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Credit Card Minimum Payment

What "just pay the minimum" actually costs — and what a fixed payment does to the same balance.

The card

Minimum payment formula

Typical formula: 1% of the balance plus that month's interest, with a $25–$41 floor. It shrinks as you pay — that's why it never seems to end.

The alternative

Minimums only
Interest on minimums
Fixed payment
You save

Balance over time

Minimum payments Fixed payment