Credit Card Minimum Payment
See how long a credit card takes to clear if you only pay the minimum, and what it costs.
The true cost of the minimum
Paying only the minimum on a credit card feels manageable but is one of the most expensive habits in personal finance. This shows how long a balance takes to clear at the minimum payment and the staggering total interest, so the real cost of that easy option becomes impossible to ignore.
Enter your balance and rate to see the minimum-payment outcome.
Why the minimum is designed to trap
The minimum payment is deliberately set as a small percentage of the balance, which means it barely exceeds the interest charged — so paying only the minimum, a balance can take many years, sometimes decades, to clear, and the total interest can exceed the original amount borrowed. As the balance falls the minimum falls too, stretching it out further. This is not an accident; it is how the product profits. The escape is paying more than the minimum, because every extra amount attacks the balance that interest feeds on. Seeing the years and the total cost of minimum-only payments laid out is often the wake-up call that prompts someone to pay it down aggressively, which is almost always the right move.
Credit Card Minimum Payment FAQ
Why does paying the minimum cost so much?
The minimum is set just above the interest charged, so the balance barely falls — it can take years or decades to clear and cost more than the original debt.
What is the way out?
Paying more than the minimum — every extra amount reduces the balance that interest feeds on, cutting both the time and the total cost dramatically.
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