Paying only the minimum on a credit card can keep you in debt for years. Enter your balance, the APR and a fixed monthly payment to see how many months it takes to clear and how much interest you pay overall. Paying even a little more each month usually shortens the timeline dramatically.
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Frequently asked questions
Why does paying the minimum take so long?
Minimum payments are set low, so most of each payment goes on interest and the balance barely moves. Paying a fixed higher amount clears it far faster.
Would a 0% balance transfer help?
Often yes — moving the balance to a 0 percent deal means your whole payment reduces the debt, but watch for transfer fees and the end of the promotional period.