Credit Card Minimum Payment

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 -- that is, assuming you stop charging any more to it.

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 Line (3) and Line (4) respectively.

Enter the dollar amount charged $ (e.g. 3734.23)
Enter the annual interest rate   % (e.g. 17.9)
(3) Enter the minimum percent payment amount   % (e.g. 3.0)
(4) Enter the minimum dollar payment amount $ (e.g. 10.00)
Total interest charges you will pay    
Total number of payments you will make    
Total number of years until debt is paid off    
Estimated foregone interest earnings    
Total Estimated Opportunity Cost    
Summary