Minimum Payment Trap Calculator
Paying only the minimum keeps an account current, but it can take years and cost more in interest than the original balance. See the real timeline for your numbers.
Minimum Payment Trap Calculator
See how long minimum payments take to clear a balance, and how much interest accrues at common credit card APRs.
Want a faster payoff plan?
Run a fixed payment through the payoff calculator, compare a transfer with the balance transfer savings calculator, or take the quiz to find your match among lower-APR and balance-transfer cards.
FAQ
How is the minimum payment calculated?
Most U.S. issuers set the minimum at the greater of a percent of the balance (commonly 1–3%) or a flat dollar floor (commonly $25). This calculator uses whatever percent and floor you enter, so you can match your own card's cardholder agreement.
Why does the balance sometimes 'never' pay off?
If the minimum payment doesn't exceed the interest that accrues that month, the payment can't reduce principal — the balance stays flat or grows. That's the trap this calculator flags directly instead of looping forever.
Is this exactly what my statement will show?
No — it's a close estimate. Real card statements typically compound daily on the average daily balance; this calculator uses a monthly-periodic-rate approximation, which is usually within 1–2% of the real result.
This calculator is for general education, not financial, legal, or tax advice. Results are estimates based on the numbers you enter and standard month-by-month amortization; your actual interest depends on your issuer’s balance-calculation method, compounding, and the exact APR, fees, and terms of your card, which vary by issuer. Confirm current numbers with your card issuer before making a decision. ClearValue Cards earns compensation solely through our CardRatings partnership, paid when a reader clicks out to CardRatings from our match tool.