Credit Card Minimum Payment Calculator
See how many months it takes to clear a card balance paying only the minimum, and the total interest cost.
Each month's payment is the greater of the percentage or the fixed floor, matching how most issuers calculate minimums.
Months to pay off
835
About 69y 7m
Total interest$32,419.45
Total paid$36,419.45
Making only the minimum payment on a credit card can take years and cost far more than the original balance. Enter your balance, APR, and minimum payment terms to simulate the full payoff timeline and total interest. Calculated instantly in your browser.
How to use
- Enter your current balance and the card's APR.
- Set the minimum payment percentage and fixed floor amount.
- Read the months to pay off and total interest if you only ever pay the minimum.
Frequently asked questions
- Why does the minimum payment change every month?
- Most issuers set the minimum as a percentage of the current balance, so it shrinks as the balance shrinks, which is why payoff drags on.
- What is the fixed floor amount for?
- Card issuers usually require at least a small fixed minimum (like $25) even when the percentage-based amount would be smaller.
- How much can I save by paying more than the minimum?
- Paying any amount above the minimum shortens the payoff time and cuts total interest significantly, since more of each payment goes to principal.