See the real cost of paying only the minimum on a credit card balance — and how much faster you'd be debt-free with a fixed higher payment.
Real-world credit card minimum payments are typically the greater of a percentage of your balance (often 1–3%) or a fixed floor amount (often $20–35). Because the minimum shrinks as your balance shrinks, paying only the minimum can take a very long time and cost far more in interest than the original balance.
This is a month-by-month simulation using the numbers you enter — no external credit card data is used, so it works for any card, currency, or country. Not financial advice.