Financial Tools
Minimum Payment Calculator
Understand how minimum payments affect your payoff time. The minimum shrinks as the balance falls, so most of each payment goes to interest for years.
Current Balance
Interest Rate (APR)
Minimum Payment Rule
Compare With a Fixed Payment
Values shown are examples. Card issuers set their own minimum payment rule, check your statement and pick the closest one.
Minimum Payment Breakdown
| First Minimum Payment | $0 |
| Time to Pay Off | n/a |
| Debt-free By | n/a |
| Total Paid | $0 |
| Total Interest at Minimum | $0 |
| With the Fixed Payment Instead | |
| Time to Pay Off | n/a |
| Total Interest | $0 |
| You Save | n/a |
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Minimum payments are a card problem, not a math problem.
Compare cards on published APR, fees and intro offers.
Questions people ask
How is my first minimum payment calculated?
It follows the rule you select: interest plus 1% of the balance, or 2% or 3% of the balance, never below $25. Card issuers set their own rule, so pick the one closest to your statement.
Why does paying only the minimum cost so much interest?
The minimum shrinks as the balance falls, so each month a large share of a smaller payment goes to interest. The balance falls slower, and interest keeps building for years.
What does the fixed payment comparison show?
It pays the same balance with a fixed amount every month instead of the minimum. You Save shows the interest and time that fixed amount saves over the minimum path.
Does this include new purchases or fees?
No. The page assumes you add no new charges and that the APR stays the same, so the result covers the current balance alone.
