Credit Card Minimum Payment Calculator
Apply your card's minimum payment rate to your statement balance to estimate the minimum payment due.
- Free
- No sign-up
Enter the balance and minimum rate to see the minimum payment.
Worked example
With these example inputs:
- Statement balance$5,000
- Minimum payment rate2%
Minimum payment: $100.00
- Months to pay off600
- Total interest$34,784
- Still owed after 50 years$1,838
- Of the first payment, interest$91.67
- Of the first payment, debt actually reduced$8.33
Frequently asked questions
How is a minimum payment calculated?
Many issuers charge a set percentage of the balance, often 1% to 3%, plus interest and fees. A 2% minimum on a $5,000 balance is $100.
Why pay more than the minimum?
Paying only the minimum stretches the balance over years and piles on interest. Paying extra each month clears the debt far faster and cheaper.