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Credit card minimum payment calculator
Issuers typically calculate a credit card minimum payment as a percentage of the statement balance or as cycle interest and fees plus a percentage of principal, subject to a dollar floor. Read how card minimum payments are calculated for the detailed explanation; your cardholder agreement and statement determine the real amount due.
Compare minimum-payment formulas
What this calculator answers: how two common minimum-payment formulas compare when you enter the balance, cycle interest, included fees, percentages, and floor from an agreement.
Use the assumptions from your agreement, then calculate.
- Balance-percentage formula
- Interest-plus-principal formula
The calculator applies the floor, then caps the result at the statement balance. It does not choose which formula your issuer uses.
Worked example: two formulas on a $3,000 balance
Using the calculator's default assumptions: a $3,000 statement balance, 2% balance formula, $55 cycle interest, 1% principal, $0 included fees, and a $25 floor.
| Formula | Arithmetic | Estimate |
|---|---|---|
| Balance percentage | $3,000 × 2% = $60 | $60 |
| Interest plus principal | $55 + $0 + ($3,000 × 1%) = $85 | $85 |
Neither estimate is the amount due unless it matches the formula in your card agreement and the minimum shown on your statement.
Minimum payment estimate versus payoff plan
This calculator estimates one billing cycle from the assumptions you enter. A payoff plan asks a different question: what happens when you choose a payment amount and keep updating the plan as balances, rates, and required minimums change. Use the debt payoff calculator to compare payoff timing and interest without assuming an issuer minimum stays fixed.
Formulas and assumptions
Balance percentage: statement balance × balance percentage. Interest plus principal: interest charged + included fees + (statement balance × principal percentage). For each comparison, the calculator applies the editable dollar floor and never returns more than the statement balance.
- Enter the interest charge and any fees from the current statement instead of estimating them from APR. Billing-cycle timing and average daily balance calculations can change those figures.
- Some agreements use different percentages, floors, past-due amounts, or special rules. Copy the formula from your own agreement.
- A calculated estimate is not the amount due. Pay the statement's listed minimum by its due date.
Source check: the Consumer Financial Protection Bureau's Regulation Z commentary gives examples using fees and interest plus a percentage of the amount owed, compared with a dollar floor. The exact formula remains account-specific.
Read how card issuers calculate minimum payments for the step-by-step explanation.
Credit card minimum payment calculator questions
Why do the two minimum-payment estimates differ?
One formula uses a percentage of the statement balance. The other adds the cycle interest, included fees, and a percentage of principal. Your card agreement determines which formula and floor apply.
What happens when the balance is below the minimum floor?
The calculator caps either estimate at the statement balance, so it will not show a minimum payment larger than the balance you entered. Your statement remains the source for the actual amount due.
Does this calculator replace my credit card statement?
No. It compares two editable formula structures for planning. Pay the minimum amount shown on your current statement by its due date unless your issuer gives you different instructions.
Turn the estimate into a payoff plan
Debtless does not price a new loan or set a card issuer's minimum. Once you know the real balance, APR, and required payment, use the debt payoff calculator to compare payoff orders and extra-payment scenarios, or keep the plan in the free iPhone app.
