If you’re like 189 million Americans suffering from credit card debt, you’re probably very familiar with minimum credit card payments. Credit card companies can often make it seem as if paying the minimums is fine. The minimum payment amount is often the first number you notice while looking at your monthly statement. But the truth is that, depending on the amount you owe, paying only the minimums can result in years of extra payments plus paying more than you originally owed in interest. In some severe cases, the interest paid over the course of many years could equal or surpass your original balance.

If you’ve plugged in all of your numbers above, you’re one step closer to regaining control over your debt. Play around with the numbers a bit. Are you able to increase your monthly payment? Try adding a higher minimum payment percentage and see what that does to your overall debt payoff timeline and your interest. What if you had a lower interest rate? Refinancing at a lower rate could make a huge difference in the long-term. And of course, any extra income, bonuses, or cash gifts that you’re able to put towards your credit card debt will result in paying off that balance quicker and with less interest.