How it works
- Each month interest is added to the balance and your payment comes off, until nothing is left.
- If the payment is below one month of interest, the debt grows forever and the result says so.
- The suggested minimum follows common country practice — check your own statement.
Good to know
- Country rates are average revolving or card rates from central banks and regulators where published.
- Annual fees, late fees and penalty rates are excluded, so real statements can cost more.
- Nothing is stored or sent anywhere.
Standards and sources
- Federal Reserve — G.19 consumer credit
- Bank of England — official interest rate statistics
- Bank of Canada — chartered bank lending rates
- Banque de France — usury rates
Last reviewed October 10, 2026
Frequently asked questions
Why does the payment sometimes never work?
If the payment is below one month of interest, the balance grows forever. Pay at least the interest plus a slice of principal.
Where do the country rates come from?
Average revolving or card rates from central banks and regulators where published, editable to your own card. Minimum-payment rules differ by lender.
Does it include fees or penalties?
No. Annual fees, late fees and penalty rates are excluded, so real statements can cost more.