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Home Minimum Payment Credit-Card Interest Calculator

Minimum Payment Credit-Card 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--that is, assuming you stop charging any more to it. After seeing the shocking figures this calculator will generate, I doubt you'll want to continue allowing the credit card companies to build your swimming pool in their backyards. And remember, it's not just the interest you're losing, you're also losing the interest you could be earning on that interest if you were investing it rather than paying it to the credit card companies!

This calculator will also tell you how many minimum payments you will make before your balance is paid off (up to a maximum of 600 payments).

Note: 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 Row #3 and Row #4 respectively. Use only numbers and decimal points

Enter the dollar amount charged:
Enter the annual interest rate:
(3) Enter the minimum payment percent:
(4) Enter the minimum minimum payment:
Interest Charges:
Number of Payments:
Number of Years:

Note: These calculators are provided for your convenience. The accuracy of these calculators and their applicability to your circumstances is not guaranteed. It is not intended as an advertisement, a disclosure statement under any consumer law, or an offer of tax, legal, financial or investment advice. It is not a guarantee of the availability of any particular loan product or interest rate, or an offer to make a loan. You should evaluate the merits and risks associated with relying on any information provided, and consult your own professional advisors prior to taking any action based upon this information..

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