Paying only the minimum on a credit card feels responsible — you're not missing a payment, after all. But minimums are calculated to keep a balance alive for as long as possible, and a card with even a modest balance can take years to clear this way, while you pay multiples of the original amount in interest.
Here's a concrete sense of the gap. A ₹50,000 balance at 36% APR, paid only at the minimum, can stretch out for several years and end up costing well over ₹1 lakh in total repayment — more than double what you borrowed. Add even a modest amount above the minimum each month, and that timeline and total cost both drop sharply, because every extra rupee goes straight at the principal rather than just covering that month's interest.
Why the extra amount matters so much: minimum payments are mostly servicing interest in the early months, barely touching what you actually owe. Anything you pay beyond the minimum skips that and attacks the principal directly — which also means next month's interest is calculated on a smaller balance, compounding the benefit forward.
The practical move: if you can find even an extra ₹1,000–₹2,000 a month beyond the minimum, put it toward your highest-interest card. Treat it like a recurring bill rather than a maybe. The earlier in the balance's life you do this, the more total interest you avoid — so the best time to start paying more than the minimum is always now, not "once things settle down."