Calculators / Credit Cards
Credit Card Minimum Payment Trap
Paying only the minimum due is how a small balance becomes a years-long debt. See the real cost.
See how long it takes and how much it costs to clear a credit card balance by paying only the minimum due.
Questions, answered
Why is the minimum payment a trap?
The minimum is set just above the monthly interest, so almost none of your payment touches the principal. A balance can take a decade to clear and cost more in interest than the original spend. Always pay the full statement, or as close to it as possible.
Free calculator from Qubera. Loading the interactive version…