Minimum Payment Calculator
See the true cost of paying only the minimum — it might shock you.
Your debt
Enter the details of the debt you want to analyze
Typical minimums: Credit cards usually require 1-3% of balance or $25, whichever is greater. For , that's roughly .
If you only pay the minimum
years months
You'll pay in interest alone
50+ years
Your minimum payment barely covers the interest!
Your debt will never be paid off!
Your minimum payment of is less than or equal to the monthly interest of . Your balance will actually grow over time.
The numbers
Starting balance
Total interest
Total paid
Interest ratio
For every $1 of your original debt, you'll pay total.
Where your payment goes (Month 1)
What if you paid more?
/month
Paid off in months
Ready to pay it off faster?
The minimum payment trap
Credit card companies love minimum payments. They keep you in debt for years — sometimes decades — while you pay far more in interest than your original balance.
The shocking truth
A $5,000 credit card at 22% APR with a $100 minimum payment takes 9+ years to pay off and costs $6,000+ in interest — more than the original debt!
Why minimums are designed to keep you in debt
- Most of your payment goes to interest, not principal
- As your balance drops, so does the minimum — extending the payoff
- Credit card companies profit the longer you take to pay
Break free from the cycle
- Pay more than the minimum — even $20-50 extra helps dramatically
- Fix your payment amount — don't let it decrease as balance drops
- Use a payoff strategy — Snowball or Avalanche to stay motivated