Minimum payment calculator
Most issuers set the minimum payment as the greater of a flat floor - often $25 to $35 - or a small percentage of the balance, typically 1% to 3%, plus that cycle's interest and fees. Because the percentage shrinks along with the balance, paying only the minimum gets slower the longer it goes on.
Free, no sign-up, nothing leaves your browser. Change any number and the whole cycle recalculates.
How the number is worked out
The minimum is recalculated every cycle against the new balance, so it falls as you pay - which is exactly why the payoff stretches out.
When the percentage minimum drops below the interest charged, the balance stops falling and begins to grow. CardLab flags this as negative amortization instead of reporting a payoff date that will never arrive.
A fixed payment behaves differently: it stays flat while the interest portion shrinks every month, so more of each payment reaches the principal.
Common questions
How is the minimum payment on a credit card calculated?
Most US issuers charge the greater of a flat floor, commonly $25 to $35, or 1% to 3% of the balance, plus the cycle's interest and fees. On $5,000.00 at 24.99% APR with a 2% or $35 rule, the first minimum is about $100.00.
What happens if I only ever pay the minimum?
You stay current and avoid late fees, but you lose the grace period and most of each payment goes to interest. On $5,000.00 at 24.99% APR the balance never clears at all - the minimum barely covers the interest charged each month.
Does paying the minimum hurt your credit score?
Paying the minimum on time keeps your payment history clean, which is the largest scoring factor. The indirect damage is utilization: a balance that barely moves stays reported month after month, and high utilization is the second largest factor in most scoring models.