Interest first
Every month, the bank computes interest on your average daily balance and that's the first thing your payment covers. Anything left over reduces the balance — but only that leftover.
Actually. · Credit card calculator
What this card actually costs you.
U.S. households paid $253 billion to credit card companies in interest in 2025 — about $1,900 per family. The average individual carries $6,580 in card debt at ~22% APR. Enter yours below.
Card details
$
%
$
What if you paid more?
What this card is really costing
$0
You owe $0. The bank collects $0 on top at 22.00% APR. At your current payment: —.
— of your first — goes straight to the bank.
Month 1: — to interest, — to principal. By the time the balance is gone — at this payment — you'll have paid more interest than principal. The minimum is engineered to last.
Time to pay off
—
Lifetime interest
$0
Interest this month
$0
Total you'll pay
$0
This won't pay off at the current payment
Your payment barely covers the interest. The interest charge each month is bigger than what you're paying, so the balance grows. Bumping the payment by even a little flips the math.
What that extra does
Time saved
—
Interest saved
$0
What's actually happening each month
The minimum payment is engineered to be slow.
Minimums are set just above interest
Card minimum payments are typically calculated as a small percentage of the balance plus the monthly interest. That leaves a thin slice for principal — which is why a $6,580 balance at 22% takes a decade-plus to clear at the minimum.
One extra payment a month works
Anything above the minimum goes entirely to principal. Even $25 a month extra on a typical card can knock years off the payoff date and save thousands. Move the slider to see your numbers.
Common questions
A few things people ask.
Why does my balance barely move when I pay the minimum?
On a typical card at 20%+ APR, the minimum payment is set just above the monthly interest charge. That leaves a small amount each month to reduce the principal — so the balance shrinks slowly and the lifetime interest is high.
Does paying twice the minimum cut the time in half?
More than half, usually. Doubling the payment doubles the principal portion of every payment after interest, which compounds — total payoff time often drops to a third or less of the minimum-payment timeline. Move the slider to see the exact number for your card.
Does this calculator save my data?
No. Every calculation runs in your browser. Nothing is sent to a server. Refresh and the inputs reset.
What if my payment is less than the interest?
The balance grows month over month — the calculator flags this case. Bumping the payment by even a little above the monthly interest charge starts moving the balance the other way.
Carrying more than one card?
Actually. tracks every card — plus mortgage, auto, subscriptions — and rolls each freed minimum into the next debt automatically. Numbers live in your own Google Drive — durable storage you control. Free forever.
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