Finance · Debt payoff
See what the minimum payment really costs.
Compare a fixed payment with a percentage-based minimum, then see the payoff date, total interest and month-by-month balance.
Your card balance
Model a fixed payment or a percentage-based minimum.
Time to pay off
26 months
Total interest
$1,358.22
Total paid
$6,358.22
First payment
$250.00
Payments
26
Minimum payments often stretch a balance for years. This model assumes no new charges, no fees and a fixed APR. It is not debt advice.
Payoff schedule
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $250.00 | $95.42 | $154.58 | $4,845.42 |
| 2 | $250.00 | $92.47 | $157.53 | $4,687.88 |
| 3 | $250.00 | $89.46 | $160.54 | $4,527.34 |
| 4 | $250.00 | $86.40 | $163.60 | $4,363.74 |
| 5 | $250.00 | $83.27 | $166.73 | $4,197.02 |
| 6 | $250.00 | $80.09 | $169.91 | $4,027.11 |
| 7 | $250.00 | $76.85 | $173.15 | $3,853.96 |
| 8 | $250.00 | $73.55 | $176.45 | $3,677.51 |
| 9 | $250.00 | $70.18 | $179.82 | $3,497.68 |
| 10 | $250.00 | $66.75 | $183.25 | $3,314.43 |
| 11 | $250.00 | $63.25 | $186.75 | $3,127.68 |
| 12 | $250.00 | $59.69 | $190.31 | $2,937.37 |
| 13 | $250.00 | $56.05 | $193.95 | $2,743.42 |
| 14 | $250.00 | $52.35 | $197.65 | $2,545.78 |
| 15 | $250.00 | $48.58 | $201.42 | $2,344.36 |
| 16 | $250.00 | $44.74 | $205.26 | $2,139.10 |
| 17 | $250.00 | $40.82 | $209.18 | $1,929.92 |
| 18 | $250.00 | $36.83 | $213.17 | $1,716.75 |
| 19 | $250.00 | $32.76 | $217.24 | $1,499.51 |
| 20 | $250.00 | $28.62 | $221.38 | $1,278.12 |
| 21 | $250.00 | $24.39 | $225.61 | $1,052.52 |
| 22 | $250.00 | $20.09 | $229.91 | $822.60 |
| 23 | $250.00 | $15.70 | $234.30 | $588.30 |
| 24 | $250.00 | $11.23 | $238.77 | $349.53 |
| 25 | $250.00 | $6.67 | $243.33 | $106.20 |
| 26 | $108.22 | $2.03 | $106.20 | $0.00 |
Good to know
The result is a guide, not a guarantee.
This calculator runs entirely in your browser. Check the assumptions, keep the inputs realistic, and use the result as a starting point for a decision.
US dollar estimate with a fixed APR and no new charges. This is not debt counselling or a repayment plan.
How does the calculator model minimum payments?
The minimum payment is the larger of a percentage of the current balance and a fixed floor, typically 2–3% and $25. As the balance falls, the minimum payment falls too, which is why payoff can take much longer.
Why does the calculator say the balance never falls?
If the monthly payment is smaller than the monthly interest charge, the balance grows. Increase the payment or lower the APR until the payment clears at least the interest.
What is not included?
The model assumes no new purchases, no annual fees, no late fees and a fixed APR. Real statements can include promotional rates, deferred interest and changing minimum formulas.
Should I pay the minimum or a fixed amount?
A fixed payment you can sustain usually clears the balance faster and costs less interest. Compare both modes here, then check your statement terms before changing a payment.