Minimum Payment Calculator
See how long it takes to pay off a credit card when you only pay the minimum. Then compare it to an accelerated DebtClear Snowball plan.
Most issuers set minimums around 2% to 3% of your balance.
Paying minimums on $3,000 at 24% APR takes about 37 years.
Minimum Only
DebtClear Snowball (2x minimum)
DebtClear Snowball assumes you pay double the minimum each month. That single change can shave years off your payoff timeline.
Download DebtClear Free →Why minimum payments trap you
Credit card minimums are designed to keep your account open as long as possible. In the early months, your payment mostly covers interest — not principal. That's why balances shrink painfully slowly even when you pay on time every month.
A small increase in payment makes a huge difference. Doubling the minimum often cuts the payoff timeline by more than half. Use the calculator above to see how much interest you can save by paying even $50 more each month.
Frequently Asked Questions
What is a typical credit card minimum payment?
Most issuers require 1% to 3% of your balance (plus interest) or a flat $25–$35 minimum, whichever is higher. The exact formula is on your monthly statement.
Why do minimum payments take so long?
Because most of your payment goes to interest at first. The minimum is designed to keep your balance active as long as possible, which maximizes interest paid over time.
Is paying only the minimum bad for your credit score?
It doesn’t hurt your score directly, but it keeps your utilization high and lengthens your debt timeline. Faster payoff reduces utilization and improves your financial flexibility.
How much faster if I pay double the minimum?
Doubling your minimum payment can cut your payoff time by years and save thousands in interest. This calculator compares minimum-only versus a doubled minimum to show the difference.
Track Your Payoff in the Free App
Use the DebtClear app to log payments, track your real balance, and get monthly reminders. Turn minimum-payment timelines into an accelerated payoff plan you can follow.
DebtClear App
Track your payoff plan in the DebtClear app
Free to download — iOS & Android