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Credit Card Minimum Payment Calculator

This Credit Card Minimum Payment Calculator estimates the minimum amount you need to pay each month based on either a percentage of your outstanding balance or a fixed minimum amount, whichever is greater.

Monthly Minimum Credit Card Payment Calculator

Input Fields
$
Enter your current outstanding balance
%
Enter the minimum payment percentage
$
Enter the minimum fixed payment amount
If enabled, the result will update automatically when you change any value.

Credit Card Minimum Payment Formula

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.

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