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Credit card minimum payment calculator
A credit card minimum payment is the smallest amount the issuer requires for a billing cycle. This calculator compares two common formula structures with assumptions you can edit; your cardholder agreement and statement determine the real amount due.
Compare minimum-payment formulas
Use the assumptions from your agreement, then calculate.
- Balance-percentage formula
- Interest-plus-principal formula
The calculator applies the floor, then caps the result at the statement balance. It does not choose which formula your issuer uses.
Formulas and assumptions
Balance percentage: statement balance × balance percentage. Interest plus principal: interest charged + included fees + (statement balance × principal percentage). For each comparison, the calculator applies the editable dollar floor and never returns more than the statement balance.
- Enter the interest charge and any fees from the current statement instead of estimating them from APR. Billing-cycle timing and average daily balance calculations can change those figures.
- Some agreements use different percentages, floors, past-due amounts, or special rules. Copy the formula from your own agreement.
- A calculated estimate is not the amount due. Pay the statement's listed minimum by its due date.
Source check: the Consumer Financial Protection Bureau's Regulation Z commentary gives examples using fees and interest plus a percentage of the amount owed, compared with a dollar floor. The exact formula remains account-specific.
Read how card issuers calculate minimum payments for the step-by-step explanation, then use the payoff calculator to see what a fixed payment could mean for payoff timing.
Turn the estimate into a payoff plan
Debtless does not price a new loan or set a card issuer's minimum. Once you know the real balance, APR, and required payment, use the debt payoff calculator to compare payoff orders and extra-payment scenarios, or keep the plan in the free iPhone app.
