Credit Card Minimum Payment Calculator

Don't Fall Into the Minimum Payment Trap

The minimum payment amount written in small print at the bottom of your credit card statement may seem to keep the debt under control. But in reality, the debt doesn't melt away over years; instead, it continues to be paid for much longer due to high monthly interest. This tool helps you calculate the real cost and see how extra payments can save you.

What Is a Minimum Payment?

Banks in Turkey typically set the minimum payment at 5% of the card balance, although this rate may vary by bank and product. When the minimum payment is made, no late fees apply, but high-rate credit card interest continues to be charged on the remaining balance. For this reason, paying off debt with only minimum payments takes much longer than expected.

How to Use

Calculations are a theoretical model based on monthly compound interest; actual bank practices (minimum payment floor, late fees, etc.) may differ.

Why Is Extra Payment So Important?

Since the minimum payment shrinks with the balance each month, a large portion of early debt payments goes to interest, and the principal decreases very slowly. For example, adding ₺500 extra per month to a ₺15,000 balance can cut the payoff time in half and save thousands of lira in interest. The tool makes this difference concrete.

Tips for Reducing Credit Card Debt

1. Pay the full balance + interest each month instead of the minimum payment; this way you pay no interest at all.
2. If you have multiple cards, pay off the highest interest card first (avalanche method).
3. Consider refinancing high-interest card debt with a lower-interest consumer loan or restructuring option.
4. Track your spending and don't use your credit card beyond your cash income; balance management is the most effective measure.