Minimum Payment Interest Calculator

This calculator will show you how much interest you will end up paying if you make only the minimum required payment on your credit card bill. It will also tell you how many minimum payments you will make before your balance is paid off (up to a maximum of 600 payments).

Instructions: Somewhere in your credit card disclosure statement the card company will tell you something like "your minimum payment will be 2% of the balance or $10, whichever is higher. These are the figures you will enter in Column C and Column D respectively.

Current Balance
Annual Interest Rate (%)
Minimum Payment Percent (%)
Monthly Payment

Total Interest Charges $
Total Number of Payments
Total Number of Years

Note: This calculator is solely for information purposes and provides reasonably accurate results. The calculations are not intended to be relied upon as actual results.