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Minimum Payment Calculator

U.S. only tools

Enter a credit card balance, the APR your card charges and how the minimum is set, and the page works out how long paying only the minimum takes — and how much of what you pay is interest. The minimum on a card is usually a small percentage of the balance plus that month’s interest, so it keeps falling as the balance falls, which is precisely why only-minimum plans run for years.

Minimum Payment Calculator - Danfio

https://danfio.com/tools/minimum-payment-calculator/ - printed from this page

Currency: USD ($) - display only, nothing was converted

$

The credit card balance you are carrying right now.

The annual rate your card quotes, charged monthly.

Most US cards take 1% of the balance plus that month’s interest.

$

The flat minimum even when a percentage of a small balance is less.

Results update as you type. Nothing leaves your device.

Currency symbol

Symbol only - nothing is converted and no exchange rate is used. Figures quoted in the explanation text stay as the sources publish them.

Time to pay it off with only minimums

19 years 5 months

A $5,000 balance at 22.5% APR, paid at 1% of the balance plus $25.00 each month.

Total interest paid
$8,296
Total you pay
$13,296
First payment
$143.75
Last payment
$0.01

How the balance unwinds, month by month

MonthPaymentInterestPrincipalBalance
1$143.75$93.75$50.00$4,950.00
2$142.31$92.81$49.50$4,900.50
3$140.89$91.88$49.01$4,851.50
4$139.48$90.97$48.51$4,802.98
5$138.09$90.06$48.03$4,754.95
6$136.70$89.16$47.55$4,707.40
7$135.34$88.26$47.07$4,660.33
8$133.98$87.38$46.60$4,613.72
9$132.64$86.51$46.14$4,567.59
10$131.32$85.64$45.68$4,521.91
11$130.00$84.79$45.22$4,476.69
12$128.70$83.94$44.77$4,431.92
13$127.42$83.10$44.32$4,387.61
14$126.14$82.27$43.88$4,343.73
15$124.88$81.44$43.44$4,300.29
16$123.63$80.63$43.00$4,257.29
17$122.40$79.82$42.57$4,214.72
18$121.17$79.03$42.15$4,172.57
19$119.96$78.24$41.73$4,130.84
20$118.76$77.45$41.31$4,089.53
21$117.57$76.68$40.90$4,048.64
22$116.40$75.91$40.49$4,008.15
23$115.23$75.15$40.08$3,968.07
24$114.08$74.40$39.68$3,928.39
25$112.94$73.66$39.28$3,889.11
26$111.81$72.92$38.89$3,850.22
27$110.69$72.19$38.50$3,811.71
28$109.59$71.47$38.12$3,773.60
29$108.49$70.75$37.74$3,735.86
30$107.41$70.05$37.36$3,698.50
31$106.33$69.35$36.99$3,661.52
32$105.27$68.65$36.62$3,624.90
33$104.22$67.97$36.25$3,588.65
34$103.17$67.29$35.89$3,552.77
35$102.14$66.61$35.53$3,517.24
36$101.12$65.95$35.17$3,482.07
37$100.11$65.29$34.82$3,447.25
38$99.11$64.64$34.47$3,412.77
39$98.12$63.99$34.13$3,378.65
40$97.14$63.35$33.79$3,344.86
41$96.16$62.72$33.45$3,311.41
42$95.20$62.09$33.11$3,278.30
43$94.25$61.47$32.78$3,245.51
44$93.31$60.85$32.46$3,213.06
45$92.38$60.24$32.13$3,180.93
46$91.45$59.64$31.81$3,149.12
47$90.54$59.05$31.49$3,117.63
48$89.63$58.46$31.18$3,086.45
49$88.74$57.87$30.86$3,055.59
50$87.85$57.29$30.56$3,025.03
51$86.97$56.72$30.25$2,994.78
52$86.10$56.15$29.95$2,964.83
53$85.24$55.59$29.65$2,935.18
54$84.39$55.03$29.35$2,905.83
55$83.54$54.48$29.06$2,876.77
56$82.71$53.94$28.77$2,848.01
57$81.88$53.40$28.48$2,819.53
58$81.06$52.87$28.20$2,791.33
59$80.25$52.34$27.91$2,763.42
60$79.45$51.81$27.63$2,735.78
61$78.65$51.30$27.36$2,708.43
62$77.87$50.78$27.08$2,681.34
63$77.09$50.28$26.81$2,654.53
64$76.32$49.77$26.55$2,627.98
65$75.55$49.27$26.28$2,601.70
66$74.80$48.78$26.02$2,575.69
67$74.05$48.29$25.76$2,549.93
68$73.31$47.81$25.50$2,524.43
69$72.58$47.33$25.24$2,499.19
70$71.85$46.86$24.99$2,474.19
71$71.13$46.39$24.74$2,449.45
72$70.42$45.93$24.49$2,424.96
73$69.72$45.47$24.25$2,400.71
74$69.02$45.01$24.01$2,376.70
75$68.33$44.56$23.77$2,352.93
76$67.65$44.12$23.53$2,329.40
77$66.97$43.68$23.29$2,306.11
78$66.30$43.24$23.06$2,283.05
79$65.64$42.81$22.83$2,260.22
80$64.98$42.38$22.60$2,237.62
81$64.33$41.96$22.38$2,215.24
82$63.69$41.54$22.15$2,193.09
83$63.05$41.12$21.93$2,171.16
84$62.42$40.71$21.71$2,149.45
85$61.80$40.30$21.49$2,127.95
86$61.18$39.90$21.28$2,106.67
87$60.57$39.50$21.07$2,085.60
88$59.96$39.11$20.86$2,064.75
89$59.36$38.71$20.65$2,044.10
90$58.77$38.33$20.44$2,023.66
91$58.18$37.94$20.24$2,003.42
92$57.60$37.56$20.03$1,983.39
93$57.02$37.19$19.83$1,963.56
94$56.45$36.82$19.64$1,943.92
95$55.89$36.45$19.44$1,924.48
96$55.33$36.08$19.24$1,905.24
97$54.78$35.72$19.05$1,886.18
98$54.23$35.37$18.86$1,867.32
99$53.69$35.01$18.67$1,848.65
100$53.15$34.66$18.49$1,830.16
101$52.62$34.32$18.30$1,811.86
102$52.09$33.97$18.12$1,793.74
103$51.57$33.63$17.94$1,775.80
104$51.05$33.30$17.76$1,758.05
105$50.54$32.96$17.58$1,740.47
106$50.04$32.63$17.40$1,723.06
107$49.54$32.31$17.23$1,705.83
108$49.04$31.98$17.06$1,688.77
109$48.55$31.66$16.89$1,671.88
110$48.07$31.35$16.72$1,655.17
111$47.59$31.03$16.55$1,638.61
112$47.11$30.72$16.39$1,622.23
113$46.64$30.42$16.22$1,606.01
114$46.17$30.11$16.06$1,589.95
115$45.71$29.81$15.90$1,574.05
116$45.25$29.51$15.74$1,558.31
117$44.80$29.22$15.58$1,542.72
118$44.35$28.93$15.43$1,527.30
119$43.91$28.64$15.27$1,512.02
120$43.47$28.35$15.12$1,496.90
121$43.04$28.07$14.97$1,481.93
122$42.61$27.79$14.82$1,467.11
123$42.18$27.51$14.67$1,452.44
124$41.76$27.23$14.52$1,437.92
125$41.34$26.96$14.38$1,423.54
126$40.93$26.69$14.24$1,409.30
127$40.52$26.42$14.09$1,395.21
128$40.11$26.16$13.95$1,381.26
129$39.71$25.90$13.81$1,367.45
130$39.31$25.64$13.67$1,353.77
131$38.92$25.38$13.54$1,340.23
132$38.53$25.13$13.40$1,326.83
133$38.15$24.88$13.27$1,313.56
134$37.76$24.63$13.14$1,300.43
135$37.39$24.38$13.00$1,287.42
136$37.01$24.14$12.87$1,274.55
137$36.64$23.90$12.75$1,261.80
138$36.28$23.66$12.62$1,249.19
139$35.91$23.42$12.49$1,236.69
140$35.55$23.19$12.37$1,224.33
141$35.20$22.96$12.24$1,212.08
142$34.85$22.73$12.12$1,199.96
143$34.50$22.50$12.00$1,187.96
144$34.15$22.27$11.88$1,176.08
145$33.81$22.05$11.76$1,164.32
146$33.47$21.83$11.64$1,152.68
147$33.14$21.61$11.53$1,141.15
148$32.81$21.40$11.41$1,129.74
149$32.48$21.18$11.30$1,118.44
150$32.16$20.97$11.18$1,107.26
151$31.83$20.76$11.07$1,096.19
152$31.52$20.55$10.96$1,085.22
153$31.20$20.35$10.85$1,074.37
154$30.89$20.14$10.74$1,063.63
155$30.58$19.94$10.64$1,052.99
156$30.27$19.74$10.53$1,042.46
157$29.97$19.55$10.42$1,032.04
158$29.67$19.35$10.32$1,021.72
159$29.37$19.16$10.22$1,011.50
160$29.08$18.97$10.12$1,001.39
161$28.79$18.78$10.01$991.37
162$28.50$18.59$9.91$981.46
163$28.22$18.40$9.81$971.64
164$27.93$18.22$9.72$961.93
165$27.66$18.04$9.62$952.31
166$27.38$17.86$9.52$942.78
167$27.11$17.68$9.43$933.36
168$26.83$17.50$9.33$924.02
169$26.57$17.33$9.24$914.78
170$26.30$17.15$9.15$905.63
171$26.04$16.98$9.06$896.58
172$25.78$16.81$8.97$887.61
173$25.52$16.64$8.88$878.74
174$25.26$16.48$8.79$869.95
175$25.01$16.31$8.70$861.25
176$25.00$16.15$8.85$852.40
177$25.00$15.98$9.02$843.38
178$25.00$15.81$9.19$834.19
179$25.00$15.64$9.36$824.84
180$25.00$15.47$9.53$815.30
181$25.00$15.29$9.71$805.59
182$25.00$15.10$9.90$795.69
183$25.00$14.92$10.08$785.61
184$25.00$14.73$10.27$775.34
185$25.00$14.54$10.46$764.88
186$25.00$14.34$10.66$754.22
187$25.00$14.14$10.86$743.36
188$25.00$13.94$11.06$732.30
189$25.00$13.73$11.27$721.03
190$25.00$13.52$11.48$709.55
191$25.00$13.30$11.70$697.85
192$25.00$13.08$11.92$685.94
193$25.00$12.86$12.14$673.80
194$25.00$12.63$12.37$661.43
195$25.00$12.40$12.60$648.84
196$25.00$12.17$12.83$636.00
197$25.00$11.93$13.07$622.93
198$25.00$11.68$13.32$609.61
199$25.00$11.43$13.57$596.04
200$25.00$11.18$13.82$582.21
201$25.00$10.92$14.08$568.13
202$25.00$10.65$14.35$553.78
203$25.00$10.38$14.62$539.17
204$25.00$10.11$14.89$524.27
205$25.00$9.83$15.17$509.10
206$25.00$9.55$15.45$493.65
207$25.00$9.26$15.74$477.91
208$25.00$8.96$16.04$461.87
209$25.00$8.66$16.34$445.53
210$25.00$8.35$16.65$428.88
211$25.00$8.04$16.96$411.92
212$25.00$7.72$17.28$394.65
213$25.00$7.40$17.60$377.05
214$25.00$7.07$17.93$359.12
215$25.00$6.73$18.27$340.85
216$25.00$6.39$18.61$322.24
217$25.00$6.04$18.96$303.28
218$25.00$5.69$19.31$283.97
219$25.00$5.32$19.68$264.29
220$25.00$4.96$20.04$244.25
221$25.00$4.58$20.42$223.83
222$25.00$4.20$20.80$203.02
223$25.00$3.81$21.19$181.83
224$25.00$3.41$21.59$160.24
225$25.00$3.00$22.00$138.24
226$25.00$2.59$22.41$115.84
227$25.00$2.17$22.83$93.01
228$25.00$1.74$23.26$69.75
229$25.00$1.31$23.69$46.06
230$25.00$0.86$24.14$21.92
231$21.92$0.41$21.51$0.41
232$0.41$0.01$0.40$0.01
233$0.01$0.00$0.01$0.00

Each month the minimum is recomputed on the balance that is left, so it keeps shrinking as the balance does — which is exactly why minimum-only plans stretch into years instead of months.

Only the minimums turn a $5,000 balance into $13,296 of payments of which $8,296 is interest. Paying even a fixed amount above that floor — the same money every month instead of a shrinking percentage — typically cuts both the time and the interest far more than the numbers above suggest.

The headline is the length of the plan and the interest bill behind it. Because the minimum is recomputed on the shrinking balance, the page walks the whole schedule month by month rather than quoting a single formula — and if the minimum you set never clears the interest, it says that plainly instead of inventing a payoff date that will never arrive.

About this minimum payment calculator

Paying only the minimum is the slowest path off a credit card, and the reason is built into how the minimum is set: a small percentage of the balance plus that month’s interest, so the payment shrinks as the balance does. The schedule is walked here month by month, so the payoff time and the interest behind it are laid out rather than guessed at.

The percentage and the flat floor - commonly 1% plus interest, never under $25 - are both inputs, so the run can match the wording on a real statement, month by month until the balance clears. The whole calculation runs locally, which means the balance, APR and minimum you enter stay on your own device.

Compare a fixed payment against the minimum before deciding a plan, because the same money clears the card years sooner when it does not shrink. New charges and a rate change sit outside the model, and a payment that never covers the interest has no payoff date at all. An estimate, not financial advice; your lender's Loan Estimate overrides it.

How this minimum payment calculator works

How the minimum is actually calculated

Most US cards set the minimum as a percentage of the balance plus that month’s interest — commonly 1% of the balance plus the interest — but never less than a flat floor, typically $25. So on a $5,000 balance at 22.5% APR, the first month’s interest is about $93.75 and the minimum comes to roughly $143.75.

The floor matters when the balance is small: 1% of $1,000 plus interest is well under the $25 floor, so the floor becomes the payment until 1% plus interest climbs past it again. Both knobs are on this page so you can match what your own statement says.

Why the plan runs so long

Because each payment is a percentage of what is left, the payment shrinks every month as the balance falls — a shrinking payment against a fixed interest rate. Very little of the early payments is principal, so the balance falls slowly at first, and the interest compounds on what is left each month.

The result is a balance that is cleared in years rather than months. Paying the same fixed amount every month instead of a shrinking percentage is the lever that turns a multi-year slog into a much shorter one, because every dollar above the minimum goes straight to principal.

What happens if the minimum never covers the interest

If the percentage plus floor is so small that it never exceeds that month’s interest, the balance grows instead of shrinking and there is no payoff date at all. The page refuses to invent one: it stops and explains that the payment has to rise above the monthly interest before the debt starts to fall.

That is the one genuinely open-ended case on the page, and it is handled honestly rather than with a made-up number — a balance that only grows does not have a time-to-payoff.

Reading the schedule line by line

The page walks every month of the plan, so the five columns — month, payment, interest, principal and balance — are the whole story with nothing hidden. On the default $5,000 balance at 22.5% APR, the first payment is $143.75: $93.75 of interest and $50 of principal. Month by month the payment inches down because it is 1% of a shrinking balance, until the last payment is measured in pennies.

The schedule is also where you can see the slowdown for yourself: the balance falls by roughly $50 in the first month and stays near that for a long time, because almost every early payment is interest. It is the clearest possible picture of why minimum-only plans stretch into years.

Why a 1% minimum takes about 38 years at any APR

Set the minimum at 1% of the balance plus that month’s interest and something surprising falls out: the principal goes down by very close to 1% of the balance every month, whatever the APR is. The interest is paid in full before the percentage is applied, so the rate changes the size of the payment, not the share of the balance it removes. Left on that setting, a balance shrinks by a fixed fraction of itself each month, which puts the payoff around 458 months — roughly 38 years — at 12% APR and at 29% APR alike. The rate decides how much you pay along the way; the percentage decides how long you stay.

The flat floor is the second half of the story, and it works in your favor at the end. Once the balance is small, 1% of it plus interest drops below the floor and the floor takes over, which is why the final stretch of the schedule clears a stubborn residual balance faster than the percentage would. Read the table month by month: the payment falls from $143.75 toward a few dollars while the interest line shrinks with it, and the fixed-payment comparison shows how much of those 38 years is bought purely by letting the payment shrink.

Worked examples

Each example below was run through the calculator on this page when the site was built, so the numbers match what you see when you enter the same inputs.

The classic 1% minimum

Current balance: $5,000.00 · Annual interest rate (APR): 22.5% · Minimum as a % of balance: 1% · Minimum floor: $25.00

Time to pay it off with only minimums

19 years 5 months

A $5,000 balance at 22.5% APR, paid at 1% of the balance plus $25.00 each month.

Total interest paid: $8,296 · Total you pay: $13,296 · First payment: $143.75 · Last payment: $0.01

The default: a $5,000 balance at 22.5% APR paid at 1% of the balance plus $25.

A higher minimum

Current balance: $5,000.00 · Annual interest rate (APR): 22.5% · Minimum as a % of balance: 2% · Minimum floor: $25.00

Time to pay it off with only minimums

11 years 7 months

A $5,000 balance at 22.5% APR, paid at 2% of the balance plus $25.00 each month.

Total interest paid: $4,328 · Total you pay: $9,328 · First payment: $193.75 · Last payment: $0.01

Doubling the percentage cuts the time to pay off far more than it doubles your monthly payment.

A very small balance

Current balance: $600.00 · Annual interest rate (APR): 19.99% · Minimum as a % of balance: 1% · Minimum floor: $25.00

Time to pay it off with only minimums

2 years 9 months

A $600 balance at 19.99% APR, paid at 1% of the balance plus $25.00 each month.

Total interest paid: $173 · Total you pay: $773 · First payment: $25.00 · Last payment: $0.01

The $25 floor dominates 1% of a small balance, so this pays off faster than the ratio alone suggests.

A floor of zero on a high APR

Current balance: $3,000.00 · Annual interest rate (APR): 29% · Minimum as a % of balance: 0% · Minimum floor: $0.00

The balance never gets paid off

0 months

At 0% of the balance plus $0.00 a month, the payment never clears the 29% APR interest, so the balance grows instead of shrinking. The payment has to rise above the monthly interest before the debt starts to fall.

Pay nothing at all and the balance grows forever — you can see the refusal on this page.

Frequently asked questions

Why does paying only the minimum take so long?

Because the minimum is a percentage of the balance, it shrinks every month as the balance falls — a shrinking payment measured against a fixed monthly interest charge. Most of the early payments just covers the interest, so the principal falls slowly and the balance compounds over years.

What is the floor on my minimum?

Most US cards set a flat floor — commonly $25 — that applies when a percentage of the balance is even smaller. It matters most on small balances, where the floor becomes the actual payment until the percentage plus interest climbs past it.

How much faster is a fixed payment than the minimum?

Usually dramatically. A fixed amount every month — even just a little above the minimum — sends every extra dollar straight to principal, whereas the minimum keeps shrinking. On the default here, paying a steady fixed amount typically cuts both the time and the total interest by well over half.

Could my balance grow instead of shrink?

Yes, if the minimum never covers that month’s interest. The page detects that and refuses to print a payoff date rather than inventing one: when the interest outruns the payment, there is no time-to-payoff to compute.

Are the results exact for my card?

They match the common billing method — a percentage of the balance plus that month’s interest, floored at a flat amount, with interest charged monthly on the balance. Check the two minimum knobs against your own statement; cards differ in the exact formula, and daily rather than monthly interest is not modeled here.

Assumptions and sources

  • US Consumer Financial Protection Bureau, consumer guidance on credit card minimum payments and how prolonged minimum payments increase interest costs.
  • Common US issuer minimum-payment terms: a percentage of the balance plus that month’s interest, subject to a flat floor.
  • This is an estimate tool, not debt, financial or credit advice. It promises neither a forgiven balance nor approval — your actual rates, fees and terms are set by your issuer or lender, not by arithmetic.

Last reviewed 2026-09-28. An estimate, not financial advice; your lender's Loan Estimate overrides it. Read the full disclaimer.

Where a figure on this page comes from an official agency — HUD, IRS, FICO or a state body — the site keeps a dated snapshot of the source page in its sources library, and a scheduled job re-checks that snapshot, so the number can be traced back to the document it came from.

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