Credit Card Minimum Payment Calculator
Why the minimum takes decades — and when it never clears.
Work out Credit Card Minimum Payment. Why the minimum takes decades — and when it never clears. Says what the result leaves out.
Time to clear at the minimum
40.5 years
18,500 of interest on a 5,000 balance
The minimum is a percentage of the balance, so it falls as the balance does. That is exactly why it takes so long: the payment shrinks just as fast as the debt, and the last stretch is paid off at a trickle. Fixing the payment at today's minimum instead of letting it fall usually cuts the term by more than half, and costs nothing extra in month one. It is the single highest-value change available on a card balance. This assumes no further spending on the card. Adding new purchases while paying the minimum extends the term indefinitely.
How the Credit Card Minimum Payment Calculator works
Enter a balance, APR and minimum payment terms for the time to clear and the total interest. Where the minimum does not cover the interest the page reports that the balance never clears, rather than returning an enormous number.
Also known as: how long to pay off a credit card · minimum payment trap calculator · credit card interest calculator · card payoff calculator
Not financial advice. This calculator is for planning and illustration, not financial advice. Real products carry fees, taxes, and terms it does not model. Confirm figures with your lender or a qualified adviser before committing.
Frequently asked questions
Why does paying the minimum take so long?
Because the minimum is a percentage of the balance, so it falls as the balance does. The payment shrinks just as fast as the debt, and the final stretch is repaid at a trickle.
What is the single best change I can make?
Fix the payment at today's minimum instead of letting it fall. It costs nothing extra in month one and typically more than halves the term, because the whole of each reduction now goes to principal.
Can a balance ever grow while I pay the minimum?
Yes, if the minimum percentage is below the monthly interest rate. Real agreements set minimums above it precisely to prevent this — if yours looks otherwise, check the terms carefully.
Does this include new spending?
No, it assumes you stop using the card. Continuing to spend while paying the minimum extends the term indefinitely, which is the mechanism behind most persistent card debt.
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