Minimum payment
The real cost of
The real cost of
paying the minimum.
See the years and the interest, plainly. It might shock you — that's the point.
Your debt.
Enter the details of the debt you want to analyse.
$
%
$
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
yrs mo
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).
Interest
Principal
What if you paid a bit more?
/mo
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 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
- Pay more than the minimum — even $20–50 extra helps dramatically
- Fix your payment amount — don't let it decrease as the balance drops
- Use a payoff strategy — snowball or avalanche to stay motivated