U.S. · credit cards
Credit card minimum payment calculator.
Enter your balance, APR and your card's minimum formula to see how long the minimum takes and what a 36-month payment would save.
On a $5,000 balance at 24.99% with a minimum of 1% of the balance plus interest (never under $25), paying only the minimum takes 19 years 8 months and costs $9,278.01 in interest. A level payment of $198.77 clears it in 36 months with $2,155.82 of interest.
Your numbers
Result
How this is calculated
Each month the interest on the running balance (APR divided by 12) is added, then the minimum payment is taken off. The minimum is your percent of the balance, plus that month's interest if you tick the box, but never less than the floor and never more than what you owe. The loop runs until the balance reaches zero. The 36-month figure is the standard level-payment formula, payment = balance × r ÷ (1 − (1 + r)−36), where r is the monthly rate.
Federal rules require every credit card statement to include a minimum payment warning and to show an estimated monthly payment for paying off the balance in 36 months, plus the total cost and savings estimates for doing so (12 CFR 1026.7(b)(12)). The issuer's own number follows the Regulation Z appendix and may differ slightly from this page. If your minimum is a percentage of the balance with no interest added and that percentage is lower than your monthly interest rate, the balance never falls, and the page says so.
Worked example
$5,000 at 24.99%, minimum = 1% of balance plus interest, $25 floor. Month one: interest is $5,000 × 24.99% ÷ 12 = $104.13, 1% of the balance is $50, so the minimum is $154.13. Because the payment is mostly interest, it shrinks as the balance shrinks, and the card is cleared after 236 payments (19 years 8 months). Interest paid: $9,278.01, on top of the $5,000 you borrowed.
The same balance paid at a level $198.77 a month finishes in 3 years with $2,155.82 of interest, $7,122.19 less.
Limits of this estimate
The result depends on the formula you enter and ignores new purchases, late fees, penalty rates and changes to the APR. Cards with a variable APR can change the numbers when the index moves.
Sources
Primary sources opened and checked on October 26, 2026. Figures are as published on that date and are not a prediction of your own terms.
Common mix-ups
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Often assumedThe 36-month payment on my statement is the amount I now have to pay.
What the source saysIt is a disclosure. 12 CFR 1026.7(b)(12) requires the statement to show an estimated monthly payment for repayment in 36 months, plus the total cost and savings estimates, but the amount due is still the minimum payment shown on the statement. [1]
Checked against these sources on .
Frequently asked questions
How is a credit card minimum payment calculated?
Each issuer sets its own formula in the card agreement. Common versions are a percentage of the balance (often 1% to 3%) or 1% of the balance plus that month's interest and fees, with a dollar floor. Enter your formula to see your result.
How long does it take to pay off a card making only minimum payments?
It depends on the balance, the APR and the formula. On $5,000 at 24.99% with 1% plus interest, it is 236 payments, a little under 20 years. A lower percentage or a higher APR makes it longer, and in some cases the balance never falls.
What is the 36-month payment on my statement?
Federal rules require statements to show an estimated monthly payment for repaying the balance in 36 months, along with a total cost estimate and a savings estimate (12 CFR 1026.7(b)(12)). It is a disclosure, not an amount you are required to pay.
Why does my minimum payment go down every month?
When the minimum includes a percentage of the balance, it falls as the balance falls. That keeps the payment small and stretches the payoff out for years.
Does paying a little over the minimum make a big difference?
Yes, because extra dollars go to principal and stop accruing interest. Change the percentage or add a fixed extra amount to the floor to see the effect.
Not financial advice
This page is general information, not financial, legal or tax advice. Your loan, card or plan terms control and may differ from the examples. Confirm anything that matters with your lender, bank, insurer or a qualified adviser before you act. Everything runs in your browser; nothing you enter is sent anywhere.