See exactly how much you'll pay in interest and how many months it takes if you only pay the minimum. Enter your balance, APR, and minimum % — get the full cost breakdown instantly.
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Paying only the minimum balance on your credit card is one of the most expensive financial decisions you can make. This calculator shows you exactly how much you'll pay in total and how many months it takes to clear your debt — so you can see the true cost before it's too late.
When to use this calculator
You want to see the real cost of paying only the minimum each month.
You're deciding whether to pay more than the minimum to save on interest.
You want to know how many months until your credit card is paid off.
You're comparing credit card financing vs a personal loan.
You need to motivate yourself to pay the full statement balance.
Months to pay off at 24% APR
At a typical 24% APR. Paying only the minimum on big balances can take years; doubling the payment more than halves the time.
Balance
$50/mo
$100/mo
$200/mo
$400/mo
$1,000
26 mo
12 mo
6 mo
3 mo
$3,000
never
47 mo
19 mo
9 mo
$5,000
never
never
36 mo
15 mo
$10,000
never
never
never
36 mo
How it works
Why minimum payment is a debt trap
The minimum payment is designed to keep you in debt as long as possible. Here's why:
Most of your payment goes to interest, not principal.
As your balance drops, your minimum payment drops too — so you never pay it off quickly.
With even a 20% APR, a $5,000 debt can cost you over 17 years and $3,000+ in interest.
Minimum payment cost comparison table
Balance
APR
Min %
Months
Total Paid
Interest
$1,000
20%
2%
99
$1,500
$500
$3,000
20%
2%
171
$5,100
$2,100
$5,000
20%
2%
207
$8,100
$3,100
$10,000
20%
2%
243
$17,000
$7,000
$5,000
25%
2%
266
$11,500
$6,500
$5,000
20%
5%
58
$6,000
$1,000
Key insight: raising your minimum % from 2% to 5% cuts your payoff time from 207 to 58 months — a 75% reduction.
How to escape the minimum payment trap
1. Pay the full statement balance: $0 interest, every time. 2. Double your minimum: even paying 4% instead of 2% cuts years off your timeline. 3. Pay a fixed amount above the minimum: consistency matters more than perfection. 4. Balance transfer to a 0% APR card: many issuers offer 12–21 month 0% intro periods. 5. Personal loan at a lower rate: if your card APR is 25%, a 10% personal loan saves thousands.
APR explained
APR (Annual Percentage Rate): the yearly interest rate your issuer charges.
Of that $100: $83 goes to interest, only $17 reduces principal.
Month 2: balance $4,983, new minimum $99.66, interest $83.05...
The debt shrinks painfully slowly because you're barely covering interest.
Paying only the 2% minimum, you'll take ~207 months (17+ years) and pay a total of ~$8,100 — $3,100 in interest alone (62% more than your original $5,000).
Disclaimer: Los resultados son orientativos y no constituyen asesoramiento financiero individualizado. Antes de tomar decisiones con impacto, consultá con un asesor financiero registrado en la CNV o contador público matriculado.
Frequently asked questions
How much interest do I pay if I only pay the minimum?
It depends on your balance and APR. With a $5,000 balance at 20% APR and 2% minimum, you'll pay $3,100 in interest over 207 months. With 25% APR, that jumps to $6,500+ in interest. Use the calculator above for your exact numbers.
How long does it take to pay off a credit card paying only the minimum?
Typically 10–20+ years with a standard 2% minimum and 20–25% APR. A $5,000 balance at 20% APR takes 207 months (17+ years). A $10,000 balance takes 243 months. Paying more than the minimum cuts this dramatically.
What is the credit card minimum payment?
Most US issuers require 1–3% of your outstanding balance or a flat dollar minimum (like $25), whichever is greater. The exact formula is in your card agreement. Common examples: 2% of balance, or 1% + monthly interest + fees.
What happens if I only pay the minimum every month?
You avoid late fees, but your debt shrinks very slowly. Most of each payment goes to interest, not principal. Your balance barely moves, and total interest paid can easily exceed 50–100% of your original debt.
Is it worth doing a balance transfer to avoid minimum payment interest?
Often yes. Many cards offer 0% APR for 12–21 months on balance transfers (with a 3–5% transfer fee). If you can pay off the balance in that window, you save all the interest. Compare the transfer fee vs your projected interest using this calculator.
How does paying more than the minimum help?
Every extra dollar above the minimum goes directly to principal, shrinking your balance faster and cutting future interest charges. Paying 5% instead of 2% can cut your payoff time by 75%. Even an extra $50/month makes a big difference.
What is the average credit card APR in 2026?
The US average APR for credit cards in 2026 is approximately 20–21% for existing accounts, according to Federal Reserve data. New offers range from 16% to 29%+ depending on creditworthiness.
Can I negotiate a lower APR with my credit card issuer?
Yes, it's worth asking. Call the number on the back of your card and request a rate reduction. Customers with a good payment history have a reasonable success rate. Some issuers also offer hardship programs with temporarily reduced rates.
How is monthly credit card interest calculated?
Monthly interest = (APR ÷ 12) × balance. Example: 20% APR on a $5,000 balance = (0.20 ÷ 12) × $5,000 = $83.33 in interest for that month. Your minimum payment must exceed this to reduce your balance at all.
Calculadora de finanzas revisada por el equipo editorial de Hacé Cuentas, contrastada con Federal Reserve — Consumer Credit Data, según nuestra política editorial y metodología.
Updates
Última revisión: June 16, 2026. Los parámetros se verifican periódicamente con las fuentes citadas.
Privacy
Calculations run 100% in your browser. We do not store or transmit your data.
Limitations
Indicative results. For critical decisions, consult a professional.
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