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Minimum payment calculator

Compare fixed minimum payments with a steady payoff budget. Understand the time and interest difference without assuming your actual lender minimum stays the same. These are monthly estimates, based on the information you enter. No account is needed, and your financial inputs stay in your browser.

Start with your debts

Example balances are loaded. Replace them with your latest statements. All amounts are in US dollars.

$0$1,000 / month

First payment is one month after the starting month. Fixed APRs and fixed minimums; no new borrowing.

No sign-up. Your inputs stay in this page and are cleared when you reload.

Your plan starts here

What could your next chapter look like?

Replace the example balances, then calculate to see your timeline, interest, and payoff order.

How this calculator works

Avalanche targets the debt with the highest APR; the general calculator also lets you choose Snowball. Minimum payments are made first. The remaining budget goes to the priority debt and moves to the next debt if the first is paid off.

This is a fixed-minimum comparison, not a simulation of your issuer’s declining minimum formula. It can understate how long actual minimum-only repayment takes.

A worked example

A hypothetical $8,500 card at 21.9% APR takes 54 months with a fixed $250 payment. Raising the payment to $350 brings it to 33 months and reduces interest by $2,060.84.

The extra $100 remains affordable every month in this example. We assume no fees, new borrowing, or rate changes. Your budget may need a different amount.

What the estimate assumes

  • USD balances, payments at monthly intervals, and constant APRs.
  • Monthly interest rounded to the nearest cent before payments.
  • No fees, promotional APR expiry, new purchases, or missed payments.
  • A first payment one month after your chosen starting month.
  • Up to 30 debts and 600 months. Incomplete forecasts are labeled, with no invented lifetime savings.

See the complete calculation methodology, including tie-breaks, rollover, and negative amortization.

Common questions

Will this match my lender’s statement?

Not exactly. This model applies APR divided by 12 to each opening monthly balance, then applies payments. Daily accrual, fees, changing rates, and payment timing can change your lender’s figures.

What if a payment is smaller than the interest?

The unpaid interest increases the balance. Extra payments or later rollover may cover the gap. If no remaining debt is shrinking, the calculator stops and explains why it cannot give a payoff date.

What happens when a debt is paid off?

Your planned monthly budget stays the same. An unused final payment and the payments from paid-off debts go to the next priority. The fixed-minimum-only baseline does not recycle those payments.

Do you store my balances?

No. The calculator uses page memory only. Your inputs are not saved to a server, browser storage, analytics, or the page URL. Reloading clears them.

Sources and further reading

Educational information only, not personalized financial, legal, or tax advice. If minimum payments are out of reach, consider contacting your lender or a reputable nonprofit credit counselor.