Minimum Payment Calculator

Example

Let’s assume the balance on your credit card is $, your card’s APR is , and your minimum monthly payment in percentage is . Your first payment should be . Note that this number is expected to change over time.

To pay off your credit card balance in full, it will take you  months. You’ll pay the overall interest of $. Your total payment will be $.

Credit Card Minimum Payment Calculator

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Table

Minimum Monthly Payment ($):
Months to Payoff:
Total Interest:
Total Payments:

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Amortization Schedule

Payment Interest Principal Balance
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By using this calculator you agree to terms and conditions. These calculators are designed to be informational and educational tools only, and when used alone, do not constitute investment or financial advice. We strongly recommend that you seek the advice of a financial services professional before making any type of investment or deciding on your financial matters. This model is provided as a rough approximation of future financial performance. The results presented by this calculator are hypothetical and may not reflect the actual growth of your own investments. We can't take into account potential lender fees, payoff schedule can be longer than in the estimation. Mycreditcards and its affiliates are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Mycreditcards is not responsible for any human or mechanical errors or omissions.

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