Debt
Credit Card Minimum Payment Calculator
See how long it really takes to pay off a credit card making only the minimum payment, and how much a fixed payment could save.
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Estimate only — not advice.
This tool provides a simplified, general estimate for educational purposes.
It is not financial, tax, or legal advice, and it is not affiliated with
the IRS, the Social Security Administration, or any lender. See our full
disclaimer for what this calculator does and doesn't account for.
What this estimate assumes
- The minimum payment each month is modeled as whichever is greater: the percentage you enter times the remaining balance, or the flat dollar floor — recalculated every month as the balance changes. This matches how most card issuers structure minimum payments, though your issuer's exact formula may differ slightly.
- Interest compounds monthly on the remaining balance, and assumes no new charges are added to the card while it's being paid down.
- The optional fixed-payment comparison assumes that same dollar amount is paid every month, instead of a shrinking minimum, until the balance reaches zero.
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