Credit Card Minimum Payment Calculator

Your details

The outstanding balance on your credit card statement.
Your card's annual percentage rate. Check your statement for the exact figure.
%
Issuers use one of two methods. "Flat %" takes a fixed percentage of your balance. "% + interest" takes a smaller percentage of principal and adds that month's interest on top.
Most cards use 1% to 3%. For "flat %" cards the typical rate is 2%; for "% + interest" cards the principal portion is often 1%.
%
The smallest amount your issuer will ever charge as a minimum payment, regardless of the percentage calculation. Typically $25-$35.
Enter a fixed monthly amount to see how the payoff timeline and total interest compare against minimum payments. Leave at 0 to skip the comparison.
Currency
First minimum paymentVery costly - pay more now
$70.00

The minimum payment due this month based on your balance and method

Months to pay off (minimum payments)360
Total paid (minimum payments)$21,748.11
Total interest (minimum payments)$20,832.88
Months to pay off (fixed payment)32
Total interest (fixed payment)$1,183.10
Interest saved by paying more$19,649.78
Months saved by paying more328
Interest (min payments)$20,832.88
Interest (fixed payment)$1,183.10
Minimum payments$43,010.99
Fixed payment$21,192.88

Difference: $21,818.11 (Minimum payments higher)

  • First payment
  • Months to payoff
  • Total interest
  • Total paid

At minimum payments only, this balance takes 30 years and 0 months to pay off.

  • You will pay 20832.88 in interest on a 3500.00 balance - that is 595% of your original debt added in interest charges alone.
  • Total amount paid over 30 years and 0 months: 21748.11 (principal plus all interest).
  • Paying a fixed 150.00/month instead saves you 19649.78 in interest and cuts 328 months off the payoff timeline.

Next stepEven a small increase above the minimum each month dramatically reduces the total interest paid because more of each payment goes to principal.

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