Credit card minimum payment calculator

Each month the calculator charges interest on the opening balance at the APR divided by 12: interest = round(balance × APR ÷ 12), rounded half-up to the currency’s smallest unit. The interest is added to the balance to give the statement balance, and the minimum for that month is worked out from the rule you chose:

• Fixed amount: minimum = fixed, the same every month.
• Percent of balance: minimum = max(statement balance × pct%, floor).
• Percent of balance plus interest: minimum = max(opening balance × pct% + interest, floor).

The payment is capped at the statement balance, so the final month never overpays. The balance after payment becomes the next month’s opening balance, and the loop runs until the balance is zero or 100 years have passed. Total interest is the sum of every month’s interest charge; total paid is the sum of every minimum.

Two checks run alongside the simulation. If the first minimum is no more than the first month’s interest, the calculator flags that the balance never falls at the minimum. If the balance is not cleared within 100 years, it reports that instead of a month count. The month-by-month rules are the same as the ones behind the debt payoff calculator, so a card entered in both tools gives matching figures.

Full method, rounding and tests on the methodology page

Card agreements describe the minimum payment in one of three broad ways, and the choice makes a large difference to how long a balance lasts.

A fixed amount. Some cards, and many people’s own repayment habits, use a flat sum such as 150 a month. Because the amount does not fall as the balance falls, a growing share of each payment goes to the balance over time, and the card clears far sooner than under a percentage rule. In the example above a fixed 150 clears 6,000 at 24% in 82 months.

A percentage of the balance. The classic rule, common in the US, is a percentage of the statement balance, often between 1% and 3%, with a floor of around 25 to 35 that applies when the percentage would be smaller. The percentage is applied to the balance after interest has been added. The payment shrinks every month, which is why the same card takes 406 months under a 2.5% rule.

A percentage plus interest. Many UK cards, and a growing number elsewhere, set the minimum as interest and fees for the month plus a slice of the balance, typically 1%, again with a floor. Cards opened in the UK since 2011 are generally set up this way, so that every minimum reduces the balance by at least that slice. It starts higher than a plain percentage rule and finishes sooner, though the balance still lasts for decades on a large debt.

Whatever the rule, the balance left after one month of minimums goes on to attract interest again, which is why the total interest can exceed the original balance. Our guide to credit card minimum payments explained walks through each rule with more examples, and how credit card interest works covers the daily-balance method most issuers actually use.

In the United States, the Credit CARD Act of 2009 and Regulation Z, at 12 CFR §1026.7(b)(12), require each periodic statement to carry a minimum-payment repayment estimate: a warning that paying only the minimum will take longer and cost more, the estimated number of years and the total cost of clearing the balance at the minimum, and the monthly amount that would clear it in 36 months with no further purchases. Issuers calculate these figures from the balance and APR on the statement, using assumptions set out in the regulation, so they will not match this calculator exactly, but they answer the same question.

In the United Kingdom, the Financial Conduct Authority’s persistent-debt rules in CONC 6.7 require a card provider to contact a customer who has paid more in interest, fees and charges than towards the balance over 18 months, and to step in after 36 months. The rules exist because a minimum that only just covers interest can keep a balance on the books for years.

Neither disclosure tells you what to pay. This calculator lets you test any payment against the minimum: enter the same balance as a fixed amount, then compare it with your issuer’s percentage rule, or run a higher fixed payment to see how many months it removes. If you have several cards or loans, the debt payoff calculator handles them together, and the debt consolidation calculator prices a single replacement loan against keeping the cards as they are.

Your numbers stay in your browser. DebtWren works out your results on your device. We don’t send the balances, rates or payments you type to our servers or store them. If you allow analytics, we record only broad ranges (for example “£2,000–£5,000 of debt”) to understand how the calculators are used. Like any website with ads, this page also loads advertising scripts; see our Privacy Policy.

The calculator is plain code running in this tab. It makes no network requests with your figures, and nothing is saved when you leave unless you choose to keep it. Read the privacy policy for how ads and analytics work on this site.

• CFPB — A box on my credit card bill says that I will pay off the balance in three years if I pay a certain amount. What does that mean?
• eCFR — 12 CFR §1026.7(b)(12): Periodic statement, repayment disclosures (Regulation Z)
• FCA Handbook — CONC 6.7: Post-contract business practices (persistent credit card debt)
• Federal Reserve Board — Credit cards: consumer information

Estimates for general information only — not financial, credit or legal advice. Your actual figures depend on your lender’s or card issuer’s exact terms, fees, minimum-payment rules, interest calculation method and any changes they make. Check your statements and speak to a qualified adviser before making decisions. Minimum-payment formulas differ by issuer and can change; always confirm the amount on your statement.

Page reviewed October 9, 2026 by the DebtWren team · Methodology · Changelog · Report an error