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This calculator is for general education purposes only and is not an illustration of current Navy Federal products and offers.


  • Amount you owe: The current balance on your credit card.
  • Interest rate: The annual percentage rate (APR) for your credit card. (Please note that the length of time needed to pay off your credit card may be greater than calculated if you enter a low promotional APR that is only good for a limited time.)
  • Payoff plan: This option lets you toggle the calculator between two possible goals: 
    1. Desired months to pay off: How quickly you'd like to pay off your balance.
    2. Desired monthly payment: How much you'd like to contribute toward paying off your balance every month.



How much of my credit card should I pay off every month?

It depends on your financial situation, but ideally you should pay as much as you can afford without taking on more debt. That's because credit card interest accrues each month—so the faster you pay it off, the less you'll have to pay in the long run.

Why should I pay more than the minimum payment?

Paying more than the minimum can help you eliminate debt faster and reduce the amount you pay toward interest over time. It may also lower your credit utilization ratio, which can have a positive impact on your credit score.

What is the difference between the minimum payment percentage and the minimum payment floor?

The minimum payment percentage is the percent of your credit card balance you're obligated to pay each month. For example, if you have a balance of $2,000 and the minimum payment percent is 2%, your minimum payment will be $40.

The minimum payment floor is the lowest minimum payment you can be charged, regardless of your overall balance. For example, if you only have a balance of $100 and the minimum payment floor is $25, your minimum payment for the month will be $25. (If your balance is lower than the minimum payment floor, you'll only need to pay the balance.)

Resources for Paying Off Your Cards

How to Do a Balance Transfer

Learn how you can move your current credit card balance to a Navy Federal card to consolidate debt and potentially lower payments.

Making Credit Card Payments

Pay off your credit card balance with confidence. Understand how to read your monthly credit card statements and make one-time or automatic payments.

Should I Save First or Pay Off Debt?

Wondering whether to put extra money in savings or use it to pay off debt? These tips can make your decision easier.


This content is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.