See the real cost of making only minimum payments. Enter your balance, APR, and current payment to discover your payoff timeline and total interest paid.
73 mo (6.1 yrs)
Payoff Time (current)
$12,284
Total Interest (current)
48 mo (4.0 yrs)
Payoff Time (accelerated)
$4,666
Interest Saved
Struggling with minimum payments? Explore your relief options.
Get Matched →Credit card minimum payments are typically set at 1–2% of your balance. Because a large portion of each payment goes toward interest, only a small amount reduces your principal — meaning the balance decreases very slowly.
Most issuers use a formula such as 1% of the balance plus interest, or 2% of the balance, whichever is greater. Some cards use a flat minimum like $25 if the calculated amount is lower.
Even adding $50–$100 per month above the minimum can save thousands in interest and cut years off your repayment timeline. This calculator lets you compare different payment amounts side-by-side.
If minimum payments feel unmanageable, you may benefit from debt consolidation, a credit counseling Debt Management Plan (DMP), or debt settlement. Consider taking our free quiz to explore options.