Everyday
Minimum Payment Payoff Calculator
Estimate credit card payoff time when the payment is the greater of a percentage of balance or a fixed minimum.
- Free to use
- Runs in your browser
- Level A · Standard formula
- Last reviewed 2026-08-16
Calculator guide
How to use the Minimum Payment Payoff Calculator
Estimate credit card payoff time when the payment is the greater of a percentage of balance or a fixed minimum. Enter the requested values and select Calculate. The result and supporting values are produced locally in your browser.
Formula
Worked example
A $5,000 balance at 20% APR with a 2% minimum and $35 floor can take many years to retire because the payment falls as the balance falls.
What to keep in mind
- Real card issuers use different minimum-payment formulas; enter the rule that best approximates your account.
- The estimate assumes no new purchases or fees.
Methodology
This calculator uses deterministic arithmetic and performs the calculation locally in your browser. Verify assumptions, units, and source values for your specific use case.
Review standard: Level A · Standard formula. How calculator reviews work.
Frequently asked questions
What does this calculator calculate?
Estimate credit card payoff time when the payment is the greater of a percentage of balance or a fixed minimum.
How is the result calculated?
Monthly Payment = max(Balance × Minimum %, Fixed Minimum), capped at the balance due.
Can I use the result for an important decision?
Use the result as a calculation aid and verify the inputs, assumptions, and applicable professional or regulatory requirements before relying on it for an important decision.
Does CalculateMeasure store the values I enter?
The calculator performs its arithmetic in your browser. The calculator itself does not need to send your entered values to a server to produce the result.