Credit Card Minimum Payment Calculator
Paying only the minimum is how a few thousand dollars turns into a decades-long debt. Enter your balance, APR, and minimum to see how long it really takes — and what it costs.
Why minimum payments trap you
Most issuers set the minimum as this month's interest plus about 1% of the balance (with a small floor like $25). The problem: as the balance drops, the required minimum drops too. You pay a little less every month while interest keeps compounding, so payoff stretches across a decade or more — and the interest you pay can rival the amount you originally borrowed.
The fix is simple and powerful: pay a fixed amount instead of a shrinking percentage, and add whatever extra you can. Even $50–$100 more per month typically cuts years off the payoff and saves thousands. The highest-APR-first "avalanche" order saves the most interest.
Frequently asked questions
How long does it take to pay off a credit card with minimum payments?
Often 15–25+ years, because the minimum shrinks as the balance falls. A $6,500 balance at 22% takes roughly 20 years on minimums alone.
Why do minimum payments take so long?
The minimum is a percentage of the current balance, so it gets smaller over time while interest keeps compounding — stretching payoff over decades.
How much extra interest do they cost?
You can pay more in interest than you originally borrowed. A small fixed extra payment usually saves years and thousands — try it with our payoff calculator.
Should I only pay the minimum?
Avoid it if you can. Even a modest fixed extra each month dramatically shortens payoff. Attack the highest-APR card first to save the most.
Estimates for information only — not financial advice. Your issuer's exact minimum formula and daily-balance math may differ.