Why does paying only the minimum take so long?

Most card minimums are a small percent of the balance (often around 2%) with a dollar floor. As the balance falls, the required minimum falls with it, so less and less goes toward principal. Combined with a high APR, that can stretch the payoff over decades and cost more in interest than the original balance. This calculator shows the exact months and interest for your numbers.

How much faster is a fixed monthly payment?

A lot. The key is that a fixed payment doesn't shrink as the balance drops, so every month a larger share goes to principal. The calculator puts the minimum-only payoff next to a fixed payment you choose, and shows the months and interest you save by refusing to let the payment fall.

What payment would clear my card by a certain date?

Enter the number of months you want to be debt-free in, and the calculator solves for the flat monthly payment that clears the balance — including any monthly fee — by then. You can apply it as your plan with one click.

Free tool · Debt payoff

Credit Card Payoff Calculator

See the minimum-payment trap in plain numbers: how many years paying only the minimum really takes, how much interest it piles on — often more than you borrowed — and how much sooner a fixed monthly payment gets you free.

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This calculator needs JavaScript. The short version: a card minimum is usually a small percent of the balance, so it shrinks as you pay — stretching the payoff over years. A fixed monthly payment that never falls clears the card far faster and for far less interest.

How the minimum-payment trap works

Each month, interest is charged on your balance at the card's APR ÷ 12. The required minimum payment is usually the larger of a small percent of the balance — often around 2% — or a dollar floor like $35. Whatever is left after interest chips away at the principal.

The trap is the word percent. Because the minimum is tied to the balance, it shrinks as you pay down the card. Less and less goes to principal every month, so the tail of the payoff drags on for years — and at a high APR, the total interest can quietly grow larger than the amount you originally charged.

The way out is simple to state and hard to feel: pick a fixed monthly payment and never let it fall. Because the payment stays put while the balance drops, a bigger slice goes to principal each month and the payoff collapses. This calculator puts the minimum-only path side by side with a fixed payment you choose, splits every dollar into principal versus interest, and shows the months and interest a small, steady bump buys back.

Common questions

Why does the minimum payment take so long?: Most minimums are a small percent of the balance with a dollar floor. As the balance falls, the minimum falls too, so less goes to principal each month. Paired with a high APR, that stretches the payoff over many years and can cost more in interest than you originally borrowed.
How much does a fixed payment save?: Often years and thousands of dollars. A flat payment doesn't shrink with the balance, so each month a larger share attacks the principal. The calculator shows your fixed-payment payoff next to the minimum-only one, with the exact months and interest saved — and a "pay just $50 more" lever that shows how a small bump collapses the timeline.
Is anything saved or sent anywhere?: No. Every number runs in your browser. Nothing you type is uploaded, stored, or shared — and you can export the full payoff schedule to CSV with one click.

Finding the fixed payment is the hard part

Taly auto-splits every paycheck across your budget — so the room to hold a steady card payment shows up on its own, instead of you hunting for it. Your paycheck does the math.

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