Credit Card Minimum Payment Calculator
How long will it actually take to pay off your card? See the real cost of minimum payments.
Your Card Details
Total amount you owe right now
Your card's annual interest rate
Usually 2% — check your statement
The flat-dollar minimum (typically $25)
The fixed amount you'll actually pay each month
The Verdict
Minimum Only
Months:
Total Interest:
Total Paid:
2× Minimum
Months:
Total Interest:
Total Paid:
Your Fixed Payment
Months:
Total Interest:
Total Paid:
💡 Key Insights
Time Saved (Fixed vs Min)
Interest Saved (Fixed vs Min)
Years Until Payoff (Min)
Months to Payoff (Fixed)
📅 First 12 Months on Minimum Payments
| Month | Payment | Interest | Principal | Balance |
|---|
💡 Smart Move:
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📈 Debt Consolidation Guide
When consolidation makes sense, how to qualify for a 0% balance transfer, and the math behind paying off 5+ cards at once.
📌 5 Tips to Escape the Minimum Payment Trap
- ✓ Pay any amount above the minimum. Even $25 more per month on a $3,500 balance at 20% APR cuts 3+ years off your payoff and saves $1,500+ in interest.
- ✓ Aim for the 2-3% rule. Multiply your balance by 0.025 — that's the minimum payment that hits the principal meaningfully. Below that, you're mostly paying interest.
- ✓ Use the avalanche method. Pay the minimum on all cards, then throw every extra dollar at the highest-APR card. Mathematically optimal.
- ✓ Call and ask for a lower rate. Card companies will often reduce your APR by 2-5% if you have a good payment history. One 10-minute call can save hundreds.
- ✓ Stop using the card while paying it down. Adding new charges to a card you're trying to pay off is like bailing water with a hole in the boat. Freeze it in a block of ice if you have to.
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Disclaimer: This calculator provides estimates for educational purposes only. Actual credit card terms vary by issuer — your minimum payment formula, interest calculation method (average daily balance vs adjusted balance vs previous balance), and grace period may differ. Not financial, credit counseling, or legal advice. If you're struggling with credit card debt, contact a nonprofit credit counselor at nfcc.org or call 1-800-388-2226.