Credit Card Minimum Payment Calculator

Monthly Minimum Credit Card Payment Calculator

Input Fields

Outstanding Balance

$

Enter your current outstanding balance

Minimum Payment Percentage

%

Enter the minimum payment percentage

Minimum Fixed Amount

$

Enter the minimum fixed payment amount

CalculateReset

Calculate automaticallyIf enabled, the result will update automatically when you change any value.

Your Results

Minimum Payment Due

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Credit Card Minimum Payment Formula

$$\text{Minimum Payment} = \max\left(\text{Minimum Percentage} \times \text{Outstanding Balance}, \text{Minimum Fixed Amount}\right)$$

Where:

• Minimum Percentage = Percentage rate applied to the outstanding balance (as decimal)
• Outstanding Balance = Total amount owed on the credit card
• Minimum Fixed Amount = Minimum fixed dollar amount required by the card issuer
• Minimum Payment = Greater value between percentage-based payment and fixed amount

The Credit Card Minimum Payment Calculator helps you understand how much you must pay each month to keep your account in good standing. Knowing the minimum payment is important for managing debt, as only paying the minimum can lead to higher interest costs over time.