How long does this card take at the minimum?
Type in a balance, the APR, and who issued the card. The Silo runs the issuer's own minimum-payment formula month by month and tells you the honest answer. For a lot of cards it's "never."
The minimum-payment formulas, issuer by issuer
This is the table the calculator runs on. Issuers publish these in the cardmember agreement, in the part nobody reads. Terms vary by product, so check your own statement when it matters.
| Issuer | Minimum | Floor | Adds the month's interest? | Also covers |
|---|---|---|---|---|
| Chase | 1% of the balance | $40 | Yes | amazon visa, aeroplan, sapphire, freedom, slate |
| Citi | 1% of the balance | $41 | Yes | citibank, costco, home depot, double cash, strata |
| Capital One | 1% of the balance | $25 | Yes | quicksilver, venture, savor, walmart, rei |
| Bank of America | 1% of the balance | $35 | Yes | bofa, alaska air, cash rewards, unlimited rewards |
| American Express | 2% of the balance | $40 | No | amex, delta skymiles, blue cash, platinum, plum |
| Discover | 2% of the balance | $35 | No | |
| Wells Fargo | 1% of the balance | $25 | Yes | one key, bilt, active cash |
| Synchrony | 1% of the balance | $35 | Yes | paypal, lowes, lowe's, sweetwater, ashley |
| Apple Card | 1% of the balance | $25 | Yes | goldman, apple |
| Barclays | 1% of the balance | $29 | Yes | barclaycard, jetblue, aviator, wyndham, hawaiian |
| US Bank | 1% of the balance | $40 | Yes | u.s. bank, elan, altitude |
| TD Bank | 1% of the balance | $30 | Yes | target, redcard, red card, nordstrom |
| Comenity | 5% of the balance | $27 | No | bread financial, victoria, torrid, ulta, wayfair |
| Typical issuer | 1% of the balance | $25 | Yes |
How it's computed: each month the balance grows by APR ÷ 12, the issuer's minimum is recomputed from the new balance, and the payment comes off. When the minimum is smaller than the month's interest, the balance grows instead of shrinking. That is the "never." Fees, promo rates and new charges aren't modeled here; The Silo's full plan handles all three.