Borrowing
How long until this card is clear?
Shows what your current payment achieves, what the minimum payment costs you, and what one small increase changes.
Paying only the minimum would take 4 years and 10 months and cost $4,078 in interest. The minimum payment is designed to keep the balance alive, not to clear it.
Balance over time
What this does and does not account for
The minimum payment shown is a common formula - interest plus 1% of the balance, with a $25 floor. Your issuer's terms will differ slightly.
Card APRs are usually variable and priced as the prime rate plus a margin, so they move when the Federal Reserve moves.
This is a general illustration, not financial advice, and not an offer of credit. Your own terms depend on your credit, the property and the lender.
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