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Credit Card Minimum Payment Calculator
Pay it off!

This calculator determines the amount of time, interest and payments required to pay off your credit card balance, assuming nothing more is added and that you pay only the minimum required payment you entered into the minimum payment field (or left at the default). It uses the APR (annual percentage rate of interest) and your entry of the minimum required payment.

  • Enter the credit card balance using only numbers and a decimal.
  • Enter the APR in whole numbers. For instance, 18% would be 18; if the APR was only 1/2%, the entry would be .005.
  • Enter your credit card's minimum payment percentage or leave the default of 3%, what most credit card companies use.
  • Enter the minimum payment YOU wish to make or leave the default.
  • Click on calculate and read the bad news!

The formatted APR is the factor used in calculations, based on your entry. The Calculated From Minimum Payment Percentage field is the amount of the minimum payment based on the percentage of balance field; in order to make headway against your balance, you should pay NO LESS than that, although your credit card company may suggest lower.

After that is calculated, you can enter that figure in the minimum payment field, click on Calculate again and see the difference in the calculations!

Required Data Entry
  Credit Card Account Balance $     
  Annual Percentage Rate (APR)      %  
  Minimum Payment Percentage      %  
  Your Minimum Payment Amount Factor $     
Calculated Results
  Formatted APR (From Your Entry)      %  
  Calculated From Minimum Payment Percentage $     
  Total Amount Of Interest $     
  Payments Required To Eliminate Debt       
  Years Required To Eliminate Debt       


Routing Number: 254075250
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