How long minimum payments really take — and what extra payments save
BalanceOFF
APROFF
Min RuleOFF
Extra PayOFF
PayoffOFF
Card Setup
Issuer terms vary — the minimum-payment percent, the dollar floor, how
interest accrues, and when the payment is applied all differ by card and network.
Every input here is editable; nothing is pulled automatically.
$
Outstanding balance you want to pay down today.
%
Minimum payment rule
%
$
Monthly minimum = the greater of the percent of the new balance
or the floor; it pays off sooner if the balance is small enough.
$
A fixed amount added on top of the minimum every month. Leave at 0 for minimums only, or compare across the ladder below.
Model: monthly compounding at APR ÷ 12. Interest is charged on the new
balance; the minimum (and extra payment) is applied after interest, capped at the
balance owed. If the minimum ever falls below the month's interest, the balance grows
forever and the card is flagged as never paying off.
Payoff Analysis
OK
Minimums only
—
With extra payment
—
Minimums-only key numbers
Payoff date
—
months from today
First minimum payment
—
after the first month's interest
Total interest paid
—
under minimums only
Total paid
—
principal + interest
Extra payment comparison
Same card, fixed extra paid on top of the minimum each month. Your entered amount is
highlighted. Rows that never pay off mean the payment still doesn't cover interest.