Minimum Payment Calculator
Estimate a revolving-account minimum payment from balance, APR, and a simple percent-or-floor rule — and see how long payoff takes at the minimum. Click any i for detail.
Your balance
Balance ($)
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Balance
Current revolving balance. |
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|---|---|
APR (%)
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APR
Purchase APR used for interest. |
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Minimum percent of balance (%)
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Min %
Common rules use about 1–3% of balance. |
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Minimum floor ($)
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Floor
Many cards also require at least $25–$40. |
How to use this calculator
- Enter balance and APR.
- Set the percent-of-balance rule and dollar floor.
- Read the first minimum and modeled payoff time.
Results explained
The headline is the first minimum payment (max of % × balance or the floor). Payoff time assumes you always pay that evolving minimum.
Quick reference: minimum payment rule
Generic rule used here (not any specific issuer).
| Rule | Formula |
|---|---|
| Minimum due | max(% × balance, floor) |
| Interest | Balance × APR ÷ 12 |
| New balance | Prior + interest − payment |
For a target payoff date with fixed payments, use a credit card payoff calculator (next batch).
How the estimate is built
Each month interest accrues, then the minimum is recalculated from the new balance until paid off.
Example scenario
A $5,500 balance at 22.9% APR with a 2% / $35 minimum often takes many years and costs a large amount of interest if you pay only the minimum.
FAQ
Why is payoff so slow?
Early payments are mostly interest when APR is high.
Promotional 0% APR?
Set APR to 0 to model a promo period — remember it usually expires.