💳 Credit Card Minimum Payment Calculator
Estimate your credit card’s required minimum monthly payment based on your balance, APR, and card’s minimum payment formula.
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How credit card minimum payments work
Most issuers calculate your minimum payment as a percentage of your balance (commonly 1-3%) plus that month’s interest, or a flat dollar floor, whichever is greater. Paying only the minimum extends payoff time and interest cost significantly.
How this calculator works
We calculate the month’s interest charge, add your card’s minimum payment percentage of the balance, and compare that total to your card’s flat minimum floor, using whichever is larger (a common industry approach).
This calculator provides a general estimate for planning purposes; exact formulas vary by card issuer.
Last reviewed August 2026