Minimum Payment Calculator

Use this calculator to check how long it will take to pay off your debt and how much interest you will pay when only making minimum monthly payments

Credit Card Balance


Credit Card Interest Rate


Percentage of Balance

Minimum Payment Floor

Your Results

Total Interest Paid


Total Principal Paid


Months To Pay Off


Total Amount Paid


Understanding Your Minimum Payment

Your minimum payment is based on a percentage of your total current balance.  Issuers may also set a minimum payment floor which your minimum payment cannot be less than. 

Components of your minimum payment:

  • Percentage of current balance

  • Fixed dollar amount that the minimum payment does not become less than

For example, on your credit card agreement or statement you may see, "Minimum payment is 3% of your credit card balance or $20.00, whichever is greater."  

Find out how much you can save with a personalized Debt Resolution Program by enrolling with us today.

Call today for a free consultation

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© 2019 Start New Financial.  All rights reserved.

5366 Plainfield Ave NE Suite B, Grand Rapids, MI 49525

Monday- Friday: 8am - 6pm​​

Saturday-Sunday: CLOSED

Tel: 800-320-9083




Results and outcomes reported on this site relate to individual clients that abided by the terms of the Program and Program-related recommendations from Start New Financial. Results may vary depending on individual circumstances, especially for those clients that withdraw from the Program before Program completion. Please DO NOT rely on information or testimonials on this site as a promise or guarantee of similar results. Information is presented solely to demonstrate that Start New Financial and its clients have achieved success in the past. In all cases, the service agreement between you and Start New Financial will supersede any materials set forth on this website.

Clients who make all monthly Program deposits into their respective settlement accounts typically pay Start New Financial between 20% and 25% of the total amount of debt the client enrolls into the Program, depending on the state in which the client resides. Start New Financial does not charge its clients any fees until one or more of the enrolled debts are successfully settled. In the event Start New Financial settles one or more—but less than all—of a client’s enrolled debts, Start New Financial only charges the client a fee based on the amount of enrolled debt actually settled.


The average client’s Program length is between 24 and 50 months, although in some cases Program lengths may extend beyond 50 months. Not all clients are able to complete Start New Financial’s Program for various reasons, including a client’s ability to save sufficient funds. Start New Financial’s Program length estimates are based on Start New Financial’s past experiences with clients, creditors, and debt collectors. Everyone’s circumstances are different; the characteristics of a client’s individual Program may vary from what is typical.


Start New Financial does not assume its clients’ debts, make monthly payments to creditors on clients’ behalf, or give clients tax, bankruptcy, accounting, or legal advice. We do not provide credit repair services. Start New Financial’s services are not available in all states. Please contact a tax professional to discuss potential tax consequences associated with settling debts for less than the full balance. Please read and understand all of Start New Financial’s Program requirements and Start New Financial’s service agreement before enrolling into Start New Financial’s Program.


The use of debt settlement services will likely adversely affect your creditworthiness. Utilizing debt settlement services also may result in (a) the balances of your enrolled debts increasing due to the accrual of legal fees and interest on your accounts and (b) you being subject to collections actions or lawsuits brought by your creditors.