Credit Card Minimum Payment Calculator
Calculate the minimum payment amount and remaining balance from your statement balance.
This calculation provides an estimate; current legislation and official calculations prevail. For binding transactions, consult your financial advisor or the relevant institution.
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Result
6.000 $
Minimum payment: 6.000 $
Result in all units
Step-by-step solution
What Is the Credit Card Minimum Payment?
The minimum payment is the lowest amount that must be paid so a credit card debt does not fall into default. It is usually a certain percentage of the statement balance.
How is it calculated?
How Is It Calculated?
Minimum payment = statement balance × minimum payment rate
- Enter the statement balance and the card's minimum payment rate.
Interest continues to accrue on the remaining balance.
Frequently Asked Questions
Does it make sense to pay only the minimum?
Since interest accrues on the remaining balance, it increases the cost over the long term; whenever possible, paying off the entire debt is more economical.