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Minimum Credit Card Payment Calculator

See the shocking truth of minimum payments. Calculate how long it takes and how much interest you'll pay making only the minimum.

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Total Interest
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First Month Payment
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The Minimum Payment Trap

Making only minimum payments on an $8,000 balance at 22% APR takes over 30 years and costs over $15,000 in interest — nearly double the original balance. Even adding $50/month to the minimum dramatically reduces payoff time. Use our Credit Card Payoff Calculator to find a faster plan.

The Minimum Payment Trap

Credit card minimum payments are designed to keep you in debt. On a $5,000 balance at 22% APR, the minimum payment (~$100) means: 37 years to pay off and $8,900 in total interest — almost double the original balance. Paying just $50 more ($150/month) cuts payoff to 4 years and saves $6,200.

The minimum is calculated as the greater of a flat amount ($25–35) or 1–3% of the balance. As your balance drops, so does the minimum — slowing your progress. Break free with our Debt Payoff Calculator and explore balance transfers to eliminate interest.

Frequently Asked Questions

Why is the minimum so low?
Card companies profit from interest. Lower minimums = longer repayment = more interest revenue for them.
What happens if I pay only the minimum?
You pay mostly interest. On $5,000 at 22%: month 1 minimum of $100 includes $92 interest and only $8 principal. Your balance barely moves.