credit card payoff calculator

21.5% Avg Credit Card APR (2025) $6,380 Avg Balance Per Cardholder 22+ yrs Minimums-Only Payoff Time $8,100 Avg Interest Paid on $6k Balance The Minimum Payment Trap — By the Numbers Credit card minimum payments are deliberately designed to be small. The typical formula — 1% of balance plus interest, or $25, whichever is greater…