If your credit card balance tends to fluctuate, you may not know how much to set aside for your minimum payment each month. The minimum payment is the lowest amount you can pay each billing cycle ...

How Credit Card Issuers Calculate Minimum Payments Your minimum is usually based on a percentage of your balance — a small percentage. If you want to get out of debt, pay more than the minimum.

The minimum payment is the lowest amount you can pay each billing cycle to keep your account in good standing. Credit card issuers have two main ways of setting minimum payments.

Find out how long it will take to pay off a credit card balance. Use Forbes Advisor’s credit card payoff calculator to meet your credit card payment goals.

How to Calculate Credit Card Interest Curious about how much interest you'd pay if you carried a balance month over month? Here are some basic steps you can follow to calculate credit card interest.