Compare calculators
Both calculators run independently — change the inputs on either side to compare results.
Debt
Minimum Payment Trap Calculator
See the true cost of making only minimum payments on your credit card — including total interest paid and years to payoff — so you can compare it against a fixed higher payment.
Fill in the required fields to see your result.
Debt
Minimum Payment Calculator
Estimate a credit card's minimum monthly payment using the larger of a percent-of-balance floor or "interest plus 1% of principal" — the two common issuer formulas. Useful for predicting card payments and understanding why minimum-only payments take so long to clear a balance.
Fill in the required fields to see your result.
Key differences
| Minimum Payment Trap Calculator | Minimum Payment Calculator | |
|---|---|---|
| Category | Debt | Debt |
| Inputs required | 4 | 3 |
| Result | Total Interest Paid (Minimum Payments) ($) | Minimum Monthly Payment ($) |
| What it does | See the true cost of making only minimum payments on your credit card — including total interest paid and years to payoff — so you can compare it against a fixed higher payment. | Estimate a credit card's minimum monthly payment using the larger of a percent-of-balance floor or "interest plus 1% of principal" — the two common issuer formulas. Useful for predicting card payments and understanding why minimum-only payments take so long to clear a balance. |