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Credit Card Minimum Payment & True Cost Calculator
Unmask the minimum payment trap: see how paying only the minimum can extend debt for decades and double your costs.
Credit Card Details
Time to Pay Off with Minimum Payments
17.5 Years
Total Interest Paid
$6,840.00
Total Amount Paid
$11,840.00
Fix It Faster: Paying a fixed payment of just $150/month instead of the declining minimum pays this debt off in under 4 years and saves over $4,500 in predatory interest!
Why Minimum Payments Are a Trap
Because minimum payments decrease as your balance declines, you pay less principal each month. At 25% APR, paying only the minimum ensures that over 70% of each dollar paid goes towards interest charges rather than paying down the balance.