Minimum payment calculator

Enter your balance and rate to see how long the minimum payment keeps you in debt, and what a fixed payment does instead.

Card balance

The amount you owe today, from your latest statement.

Interest rate (APR)

Find it on your statement under "Interest charge calculation".

Fixed monthly payment to compare: $200

Try a payment you could keep up every month.

How your card sets its minimum

Issuers differ. Check your statement; this is an estimate.

Your numbers never leave your browser. Saved data stays on this device only.

Interest with minimums only

$8,100

over 19 years 2 months

Interest with $200 a month

$1,750

over 2 years 10 months

Interest you would save

$6,350

and 16 years 4 months sooner

Your balance over time

Balance after each month, starting from $5,000 at 22% APR. No new purchases are assumed.

Year	Balance, minimums only	Balance, $200 a month
Today	$5,000	$5,000
1	$4,432	$3,561
2	$3,928	$1,771
3	$3,482	$0
4	$3,086	$0
5	$2,736	$0
6	$2,425	$0
7	$2,149	$0
8	$1,905	$0
9	$1,689	$0
10	$1,497	$0
11	$1,327	$0
12	$1,176	$0
13	$1,042	$0
14	$924	$0
15	$813	$0
16	$679	$0
17	$512	$0
18	$305	$0
19	$47	$0
20	$0	$0

How we calculate this

Interest is charged monthly at the APR divided by 12. Real statements use a daily rate, so your numbers may differ by a few dollars. Promotional rates, fees and new purchases are not included.

Why the minimum is so small

The minimum payment is set low so it feels easy. But most of it goes to interest, so the balance barely moves. As the balance shrinks, the minimum shrinks with it, and the debt drags on for years.

A fixed payment does not shrink. Every month the same amount goes further against the balance, which is why the blue line in the chart falls so much faster.

Keep going

Minimum payment calculator

Payoff plan

Your balance over time

Why the minimum is so small

Keep going