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Minimum Payment Calculator

Estimate the minimum monthly payment on a credit card balance.

Introduction

Minimum Payment Calculator — Estimate the minimum monthly payment on a credit card balance. Enter Balance, APR (%), % of balance to get an instant, accurate result.

Formula

Minimum payment = the greatest of: a flat percentage of the balance (default 2%), interest owed for the month plus 1% of the balance, or a $25 floor — whichever is largest (capped at the full balance).

Step-by-step

  1. Enter the Balance.
  2. Enter the APR (%).
  3. Enter the % of balance.
  4. Click Calculate to see your result instantly.

Real-world example

Example: With Balance = 3000, APR (%) = 22, % of balance = 2, the Minimum Payment Calculator gives Minimum Payment: 85, Interest Portion: 55.

Frequently Asked Questions

Why is the minimum payment based on multiple rules?
Card issuers typically use a similar "greater of" structure so the minimum stays meaningful even for low balances (via the flat floor) and covers accruing interest on larger ones.
What happens if I only ever pay the minimum?
The payment shrinks as your balance shrinks, dramatically extending payoff time and total interest — see the credit card payoff calculator for a full timeline.
What inputs does the Minimum Payment Calculator need?
You'll need to provide: Balance, APR (%), % of balance. All fields use sensible defaults, so you can see a working example immediately and then adjust the values to match your own numbers.
How accurate is the Minimum Payment Calculator?
The Minimum Payment Calculator applies the formula exactly as calculated — Minimum payment = the greatest of: a flat percentage of the balance (default 2%), interest owed for the month plus 1% of the balance, or a $25 floor — whichever is largest (capped at the full balance). — so results are precise for the inputs you provide. Accuracy depends on entering correct, realistic input values.
Are these results guaranteed?
No. The Minimum Payment Calculator gives an estimate based on the numbers you enter and standard financial formulas — actual rates, fees, taxes, and terms vary by lender, institution, and jurisdiction, and can change over time. This is not financial advice; consult a qualified financial professional for decisions specific to your situation.
Is the Minimum Payment Calculator free to use?
Yes, the Minimum Payment Calculator is completely free, requires no signup, and runs instantly in your browser.

About the Minimum Payment Calculator

The Minimum Payment Calculator uses a real, verifiable formula — Minimum payment = the greatest of: a flat percentage of the balance (default 2%), interest owed for the month plus 1% of the balance, or a $25 floor — whichever is largest (capped at the full balance). — so results are accurate every time, not an approximation.