See the minimum payment, monthly interest and payoff timeline.
The minimum is a percentage of the balance with a floor, and paying only that amount is run through the monthly amortization formula to find the timeline. Paying only the minimum can stretch a card balance over a decade, so seeing the months makes the true cost vivid.
Credit Card Minimum Payment
Minimum = balance x percent (floored); payoff = amortization months at that payment
Minimum formulas vary by issuer; this is a typical guideline estimate.
Minimum = balance x percent (floored); payoff = amortization months at that payment The minimum is a percentage of the balance with a floor, and paying only that amount is run through the monthly amortization formula to find the timeline.
Paying only the minimum can stretch a card balance over a decade, so seeing the months makes the true cost vivid.
This calculator takes 3 inputs: Balance, APR, Minimum payment. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.