Finance Calculators

Credit Card Minimum Payment Calculator

Calculate your required minimum monthly payment on a credit card balance, and how much of it goes toward interest versus principal.

Current balance

Annual percentage rate (APR)

Minimum payment percent of balance

Minimum payment floor

Required minimum payment —

Interest portion of payment —

Principal portion of payment —

About the Credit Card Minimum Payment Calculator

Credit card issuers typically require a minimum payment equal to the greater of a small percentage of the balance or a flat dollar floor. Much of that minimum payment can go straight to interest, leaving little to reduce the actual balance.

Formula: Minimum Payment = max(Balance × Minimum %, Payment Floor) · Interest Portion = Balance × (APR ÷ 12)

Paying only the minimum each month can keep a balance alive for years and multiply the total interest paid — the credit card payoff calculator shows how a larger fixed payment shortens that timeline dramatically.