Credit Card Minimum Trap Calculator
Show how long minimum payments take and total interest paid.
Paying only the minimum on a credit card extends payoff for years and costs thousands in interest. Minimum is typically 1–2% of balance or $25, whichever is higher. This calculator shows months to payoff and total interest when paying only the minimum, so you can see the true cost of the minimum-payment trap.
Inputs
Results
Months to payoff: —
Total interest paid: —
Total amount paid: —
Insights
Formula
Min payment = max(balance * minPct/100, floor) Interest = balance * (APR/12) New balance = balance + interest - payment
Input Definitions
What does each input mean?
- Balance
- Current amount owed on the credit card. Principal that accrues interest each month.
- APR %
- Annual percentage rate. Monthly interest = balance × (APR ÷ 12).
- Minimum % of balance
- How the card calculates minimum payment—typically 1–2% of the balance.
- Floor minimum
- Dollar floor (e.g. $25) when the percentage-based minimum would be lower.
Related Calculators
How Long Until This Debt Is Actually Paid Off?
Credit card minimum payments are deliberately designed to extend your repayment timeline and maximize interest paid over time. What feels like a manageable monthly payment can mean years of repayment and a final cost that’s double the original balance. This calculator shows you exactly how long it will take to pay off a balance using only minimums — and how much interest you’ll pay in total.
It’s built for anyone who has ever wondered whether they’re making real progress on a balance, needs to compare the cost of minimum payments versus a fixed accelerated payoff plan, or wants to understand why their balance barely moves despite consistent payments. Run these numbers before deciding how to allocate extra cash — the interest savings from accelerating payoff are often larger than expected.