Data as of July 18, 2026. Simulations run month by month with the same engine as our minimum payment calculator; method and sources at the bottom. Journalists: cite any figure with attribution, or ask us for your exact scenario (hello@moneycrunchlab.com) — usually answered within the hour.
The landscape in three numbers
- $1,344.2 billion — U.S. revolving consumer credit outstanding, May 2026 (Federal Reserve G.19, seasonally adjusted).
- 22.15% — average APR on credit card accounts actually assessed interest, May 2026 (G.19). Across all accounts: 20.94%.
- 163% — interest paid as a share of the original $5,000 balance when repaying at the minimum (our simulation, formula below).
Minimum-only payoff, by balance
APR: 22.15% (G.19 average, May 2026). Minimum modeled as the most common issuer formula — monthly interest + 1% of the balance, $25 floor — with no new charges.
| Balance | First minimum payment | Time to pay off | Total interest | Interest as % of balance |
|---|---|---|---|---|
| $1,000 | $28 | 5 yrs 11 mos | $775 | 78% |
| $2,000 | $57 | 11 yrs 8 mos | $2,621 | 131% |
| $5,000 | $142 | 19 yrs 3 mos | $8,159 | 163% |
| $10,000 | $285 | 25 yrs 0 mos | $17,388 | 174% |
| $15,000 | $427 | 28 yrs 4 mos | $26,617 | 177% |
The pattern journalists usually highlight: the payoff time grows much faster than the balance, because the minimum payment shrinks as the balance shrinks — the formula is designed to keep the account revolving, not to retire the debt.
The same $5,000, by APR
| APR | Time to pay off (minimum only) | Total interest |
|---|---|---|
| 18.00% | 18 yrs 6 mos | $6,539 |
| 20.00% | 18 yrs 10 mos | $7,317 |
| 22.15% (average) | 19 yrs 3 mos | $8,159 |
| 24.99% | 19 yrs 8 mos | $9,278 |
| 29.99% | 20 yrs 5 mos | $11,264 |
What a fixed payment changes
Freezing the payment instead of letting the minimum slide is the single cheapest fix in consumer finance. On $5,000 at 22.15%:
| Strategy | Time to debt-free | Total interest |
|---|---|---|
| Minimum only | 19 yrs 3 mos | $8,159 |
| Fixed $200/month | 2 yrs 10 mos | $1,768 |
| Fixed $250/month | 2 yrs 2 mos | $1,298 |
The fixed $200 payment saves $6,391 in interest and 16 years 5 months versus the minimum. Run your own balance and APR in the minimum payment calculator, or compare payoff strategies across several cards with the snowball vs. avalanche calculator.
Methodology & sources
- Simulation: month-by-month, minimum = monthly interest + 1% of the current balance with a $25 floor (the most common U.S. issuer formula), no new charges, no fees. Same engine as our public calculator; totals rounded to the nearest dollar.
- Average APRs and revolving credit: Federal Reserve, Consumer Credit — G.19, release of July 8, 2026 (revolving credit and card rates: May 2026).
- Actual issuer minimums vary (some use flat 2–3% of the balance); a higher minimum formula shortens the timelines above. Individual results depend on the exact APR, formula, and any new spending.
- Page last reviewed: July 18, 2026. Figures re-checked at each G.19 release.
Cite as: “MoneyCrunchLab simulation at the Federal Reserve G.19 average credit card APR, July 2026.”