The reason a higher amount of credit card debt will take longer to pay off by paying the minimum monthly payment is because most credit card companies require a monthly payment of 2-3% OR $xx, whichever is HIGHER. The lower debt will hit the $xx threshold earlier, thus accelerating the payment. For example, $2,000 debt, 3% or $10 minimum payment (whichever is higher) at 19.99% APR will take 182.x months to pay. $5,000 debt, 3% or $10 minimum payment (whichever is higher) at 19.99% APR will take 250.x months to pay. $10,000 with the same conditions will take 302.x months to pay.
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