Minimum Payment Calculator
See the true cost of making only minimum payments on credit card debt. Years to pay off and total interest will shock you.
Part of our Finance Calculators collection.
Minimum Payment Calculator
Free online calculator
$
%
Annual Percentage Rate from your statement
Results update automatically as you type
How to Use This Calculator
- 1
Enter your debt details.
- 2
See results instantly.
- 3
Adjust to compare strategies.
How This is Calculated
Minimum payment = max(Balance × 2%, $25) Each month: interest accrues, minimum decreases as balance drops Result: takes many years to pay off
Example Calculation
See live result
Inputs
Result
Enter values above
Results appear as you type.
Frequently Asked Questions
Is this calculator accurate?
These are estimates based on the information provided. Actual rates and terms vary by lender.
Should I seek professional advice?
For significant financial decisions, consider consulting a financial advisor or credit counselor.