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Minimum payment calculator
Minimum payments shrink as your balance falls, which can stretch repayment out for years. See how long it really takes and what a fixed payment saves.
Minimum payment calculator
Runs in your browser. Nothing is stored.Check your cardholder agreement if you're not sure.
Most cards never ask for less than $25 to $40.
- Total interest
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- First minimum payment
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- If you keep paying that amount
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Longest 0% balance transfer offers right now
Terms last checked September 30, 2026
These offers were last checked more than 45 days ago and may have changed. Confirm terms on the issuer's site.
| Card | Intro offer | Transfer fee | Actions |
|---|---|---|---|
| Citi Diamond Preferred CardCiti | 0% for 21 monthsTransfer within 4 months | 3% ($5 min) in the first 4 months, then 5% | Try this offerOfficial site |
| BankAmericard credit cardBank of America | 0% for 21 billing cyclesTransfer within 60 days | 5% of each transfer | Try this offerOfficial site |
| Wells Fargo Reflect CardWells Fargo | 0% for 21 monthsTransfer within 120 days | 5% ($5 min) | Try this offerOfficial site |
| U.S. Bank Shield Visa CardU.S. Bank | 0% for 21 billing cyclesTransfer within 60 days | 5% or $5, whichever is greater | Try this offerOfficial site |
| Citi Simplicity CardCiti | 0% for 18 monthsTransfer within 4 months | 3% ($5 min) in the first 4 months, then 5% | Try this offerOfficial site |
Sorted by length of the 0% period, then by fee. We don't get paid for this list. Regular APRs after the intro period depend on your credit, typically from the mid-teens to the high 20s; check each issuer's rates and fees before applying. Approval isn't guaranteed.
How minimum payments are set
Issuers don't all use the same formula. The most common is interest plus 1% of the balance, with a floor of around $25 to $40. Some use a flat percentage of the balance instead. Your cardholder agreement lists the exact rule.
minimum = max(floor, interest + 1% × balance)Because the minimum is tied to the balance, it gets smaller every month. That feels easier, but it means most of each payment keeps going to interest.
Why a fixed payment wins
If you take your first minimum payment and keep paying that same amount every month, the balance falls faster each month instead of slower. On a $3,000 balance at 24% APR with an interest-plus-1% minimum, paying only the minimum takes about 12½ years and costs about $4,440 in interest. Keeping the first payment of $90 fixed clears it in under 5 years with about $1,990 in interest, saving roughly $2,450.
Your monthly statement is required by law to show a minimum payment warning: how long payoff takes at the minimum, and what payment would clear the balance in three years.
To plan a fixed payment, use the credit card payoff calculator.
Sources
- Consumer Financial Protection Bureau
- Credit CARD Act of 2009, minimum payment warning (Regulation Z)
Frequently asked questions
What happens if I only pay the minimum on my credit card?
Your account stays in good standing, but repayment can take many years and a large share of what you pay goes to interest.
How is the minimum payment calculated?
Commonly as the month's interest plus 1% of the balance, with a minimum floor such as $35. Some issuers use a flat 2% or 3% of the balance.
Does paying the minimum hurt my credit score?
Paying on time protects your payment history. But carrying a high balance keeps your credit utilization high, which can lower your score.