Credit Card Minimum Payment Calculator

Inputs

Currency symbol

Current balance

APR (annual %)

Extra payment per month

Minimum payment rule

Percentage of balance (%)

Floor minimum amount

Fixed minimum amount

Max months to simulate

Assumes monthly compounding from APR. Real statements typically apply a daily periodic rate on average daily balance.

Example Scenarios

Click Apply to load the scenario into the form.

Balance	APR %	Rule	Percent / Floor / Fixed
$1,200	19.99	Percent or floor	2.5% / 25 / 35
$3,500	24.99	Interest + percent	1% / 35 / 35
$6,500	29.99	Percent or floor	3% / 30 / 40
$800	17.49	Fixed only	2% / 25 / 50
$2,500	21.99	Interest + percent	1.5% / 25 / 35

Key Results

Months to payoff

Total interest

Total paid

Exports include the amortization schedule shown below.

Amortization Schedule

Month	Starting Balance	Interest	Payment	Principal	Ending Balance

Formulas Used

Let B be the starting balance for the month. APR is converted to a monthly rate r = APR / 12 / 100. Interest for the month is I = B × r.

Greater of percent or floor: M = max(p × B, F) where p is percent/100 and F is the floor amount.
Interest plus percent: M = I + p × B, then apply M = max(M, F) if a floor is used.
Fixed only: M = A where A is the fixed amount.

If an extra payment E is provided, the actual payment is Pay = min(B + I, M + E). Principal paid is PP = Pay - I. Ending balance is B' = B + I - Pay.

This model uses monthly compounding from APR. Actual issuers commonly apply a daily periodic rate to the average daily balance; results will be close but not exact to your statement.

How to Use This Calculator

Enter your current balance, APR, and optional extra payment.
Choose the minimum payment rule that matches your card disclosures.
Adjust percentage, floor, or fixed fields as required by your issuer.
Press Calculate to generate the schedule and chart.
Use Download CSV or Download PDF to export results.
Try Example Scenarios to explore outcomes under different assumptions.

FAQs

1) Why does my statement show a different minimum?
Issuers often compute interest daily on the average daily balance and may include fees or past due amounts. This tool uses a monthly approximation.

2) What percent should I pick for the minimum?
Many cards use 1%–3% of balance with a dollar floor. Check your card agreement or the minimum payment disclosure on your statement.

3) What happens if the minimum is less than the monthly interest?
The calculator safeguards against negative amortization by raising the payment at least to interest due so the balance declines.

4) Can I add extra payments to finish sooner?
Yes. Enter an amount in “Extra payment per month” to see the reduced payoff time and interest savings.

5) Does this include annual fees or late fees?
No. Add such costs to your balance manually or increase the extra payment to approximate their effect.

6) Is the payoff timeline guaranteed?
No. It is an estimate based on your inputs. Changes in APR, fees, or spending will change the outcome.