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Credit Card Minimum Payment Calculator

This calculator helps you understand how a credit card issuer commonly determines a minimum payment, and lets you simulate outcomes when you pay only that minimum, pay a fixed amount, or want to meet a target payoff timeframe.

Results are estimates based on the inputs you provide. Real issuer rules vary by account terms and local regulation; use this as a planning tool, not a bill or legal statement.

Updated Nov 19, 2025

Calculates the typical issuer rule: the minimum due is the greater of a flat minimum amount or a percent of the statement balance plus accrued interest and monthly fees.

Inputs

Results

Updates as you type

Minimum payment (issuer rule)

$183.29

Months to payoff (if you only pay the minimum)

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Estimated total interest (if you only pay the minimum)

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OutputValueUnit
Minimum payment (issuer rule)$183.29USD
Months to payoff (if you only pay the minimum)——
Estimated total interest (if you only pay the minimum)—USD
Primary result$183.29

Visualization

Methodology

The tool converts annual percentage rate (APR) to a monthly periodic rate by dividing APR by 12 and by 100. Interest for a period is approximated as balance multiplied by the monthly rate.

Issuer minimums are commonly computed as the greater of a flat minimum or a percentage of the balance plus interest and fees. Time-to-payoff uses standard amortization formulas: n = -ln(1 - rB/P) / ln(1 + r) where r is monthly rate, B is balance, and P is the payment. Edge cases where payment does not cover monthly interest are reported as not converging.

This implementation follows recognized guidance for software quality and numeric processing. See cited standards on numerical representation, usability, and software assessment for the underlying best practices.

Worked examples

Example 1: $5,000 balance, 20% APR, 2% minimum or $25 flat. Percent component = $100, interest ≈ $83.33; minimum = max(25, 100 + 83.33) = $183.33.

Example 2: If you pay $100/month on the same $5,000 at 20% APR, months to payoff ≈ ceil(-ln(1 - 0.016667*5000/100)/ln(1+0.016667)) ≈ 75 months and total interest ≈ $2,500 (approximate).

Further resources

External guidance

Expert Q&A

Are these results exact for my account?

No. Values are estimates. Actual minimums and interest may differ due to daily balance methods, compounding conventions, timing of payments, promotional rates, posted fees, and issuer-specific rules. Use statements and your cardholder agreement for exact amounts.

What if my calculated payment does not cover the interest?

If a monthly payment is less than or equal to the months interest (payment less than or equal to balance times monthly rate), the model reports that payoff does not converge. In practice, issuers may change terms, add fees, or require higher minimums.

How should I interpret the months-to-payoff value?

Months-to-payoff is an estimate based on constant payments and the given APR. It is rounded up to whole months. For variable minimums (percentage-based minimum that changes as balance decreases), the model approximates using the current calculated minimum as a constant payment for projection purposes; actual behavior will vary.

What accuracy and security standards does this tool follow?

Design and numeric handling follow principles from IEEE 754 for floating point awareness, ISO/IEC software-quality guidance, and usability recommendations from ISO 9241. For operational security and data handling, we reference NIST guidance. This calculator does not store personal data by default; verify any site-level privacy policy before entering personally identifying details.

Sources & citations