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See exactly how long minimum payments take — and how brutally interest piles up.
We loop month-by-month, adding interest then subtracting whatever the minimum-payment rule produces. We stop when the balance hits zero.
Because they shrink as the balance shrinks. A typical 2% minimum on a 24% APR card means you're barely beating interest each month.
Card issuers profit when you pay only the minimum — sometimes 80%+ of total payments end up as interest.
Fix a flat payment well above the minimum (e.g. $300/mo regardless of balance) until it's gone.
Yes — positively. Lower utilization helps your score.
Federal rules require it to cover at least interest plus 1% of principal so balances actually decline.
Results are estimates for educational purposes only and are not financial advice. Verify with a qualified professional before making decisions.
Last updated October 2026