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 with one 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 payoff time grows much faster than the balance, because the minimum payment shrinks as the balance shrinks. That declining payment can keep an account revolving long after the original purchases were made.
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 (one common U.S. issuer model), 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 are account-specific: some use a flat percentage or other terms. The CFPB’s minimum-payment disclosure guidance likewise requires issuers to calculate disclosures from the formula that applies to the account. Individual results depend on the exact APR, formula, fees, 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.”