Credit Card Minimum Payment Calculator

Our credit card minimum payment calculator is designed to help you calculate exactly how long it will take to pay your credit card balance if you only make your minimum payment each month. You can also use it to determine how much interest you will pay on a monthly basis and the total amount of interest paid throughout the course of your loan.

Credit Card Minimum Payment Calculator

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Minimum Monthly Payment ($):
Months to Payoff:
Total Interest:
Total Payments:


Amortization Schedule

Payment Interest Principal Balance
- - -

Remaining Loan Balance

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By using this calculator you agree to terms and conditions. These calculators are designed to be informational and educational tools only, and when used alone, do not constitute investment or financial advice. We strongly recommend that you seek the advice of a financial services professional before making any type of investment or deciding on your financial matters. This model is provided as a rough approximation of future financial performance. The results presented by this calculator are hypothetical and may not reflect the actual growth of your own investments. We can't take into account potential lender fees, payoff schedule can be longer than in the estimation. Financialfreedom and its affiliates are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Financialfreedom is not responsible for any human or mechanical errors or omissions.

How to Use This Credit Card Minimum Payment Calculator

You can use this calculator by entering the following information into the appropriate fields:

  • Your current credit card balance.
  • The interest rate associated with your credit card.
  • Your monthly minimum payment, expressed as a percentage – you can find this information in your contract.

You can also alter these numbers using the sliding scales below the appropriate fields. All results will be updated in real time as you make changes.


Let’s say your credit card balance is $, its APR is , and your monthly minimum payment in percentage is . You will need to pay  for the first time. Note that the monthly payment will change over time.

It will take  months to pay off your credit card in full. The total interest you’ll pay will be $. You will spend $ in total.

Understanding the Results

You can view the results from our credit card minimum payment calculator in three different ways.

The simplest option is a bar graph that charts your debt as it decreases over time. In the browser, you can hover over each month’s bar to see the total balance at that time.

Next, we have a table displaying the following information:

Months to Payoff. This is the number of months it will take to pay your balance off making only the minimum monthly payment.

Total Interest. How much you’ll spend on interest while you pay off your loan, expressed as a dollar amount.

Total Payments. The total amount of money you’ll spend to pay off your credit card debt, including interest charges.

Finally, you will be given access to an amortization schedule. This shows you a monthly breakdown of your payments. You will be able to see how much of each payment goes to interest and how much goes toward the principal. It also shows the exact balance you’ll have after your payment is made each month.

You can save your results as a .PDF file.

Final Advice

If you’re not satisfied with the amount of time you’ll spend paying off your balance with minimum payments, check out our credit card payoff calculator and compound interest calculator.

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