See exactly how long the card takes to clear — and what the minimum-payment trap looks like.
Type your balance and APR. Compare your current monthly payment against a 'minimum-only' baseline and an 'with extra' upside. Credit-card math punishes inertia faster than any other consumer debt.
Built and reviewed by Stephen Omukoko Okoth
Mathematical Economist · ex-Morgan Stanley FI · Equilar
Inputs
The card
Verdict
Cleared in 2y 10m.
Add an extra monthly to see the impact.
Minimum-only on this card would take 6y 1m and cost $ 4.1K in interest — that's the trap. Every additional dollar of monthly payment goes 100% to principal.
Result
The numbers
Months to clear (current)
34
Total interest (current)
$ 1.7K
Months (with extra)
34
Total interest (with extra)
$ 1.7K
Min-only payoff
6y 1m
Min-only total interest
$ 4.1K
Trajectory
Balance over time
Common questions
How does credit-card interest actually work?
Credit cards compound monthly on the average daily balance. The APR you see (e.g. 24%) divides by 12 to get the monthly periodic rate (~2%). Carry KSh 100,000 at 24% APR — pay only the minimum — and you pay roughly KSh 24,000 in interest over 12 months while barely reducing the principal.
What is the 'minimum payment trap'?
Minimums are typically 2-3% of the balance. They cover roughly the month's interest with a sliver going to principal. Paying only the minimum on a $5,000 balance at 22% can take 25+ years to clear and cost three times the original balance in interest. The calculator above shows the trap explicitly.
Should I pay off cards before saving?
Almost always yes. Credit-card APRs (18-30%) exceed any realistic risk-adjusted investment return. The only exceptions: (1) employer 401k match (free money beats anything), (2) a small emergency fund (<1 month expenses) so the next emergency doesn't go straight back on the card.
Does balance-transfer help?
Often yes — a 0% intro period (12-21 months) lets you put 100% of payments toward principal. Watch the transfer fee (3-5%) and the post-intro APR. Run the math: if the fee + interest after intro period exceeds what you'd pay sticking with current card, it doesn't help.