My credit card is charging the same amount of interest as my minimum monthly payment. What chance do I have?

well +5-5=0. you'll never pay it off and maybe they'll eventually close it. Put pen to paper and make a plan to pay down the card. Use it a bit as you pay it down to keep the activity up. Aim for 35% of the balance or lower. Think of a credit card as a woman. Nuture it, take care of it, throw money at it and be honest, and she'll stay with you forever - but give her less than what she needs to be happy she'll leave you;)

Your creditor wants to make as much money from you as possible. They love people who can only afford the minimum monthly payment because it gives them a constant stream of income for decades. If you want to become debt free you need to make bigger monthly payments.

You should pay at least double the minimum payment. You will be throwing less money away in interest and finance charges if you start paying off more of your debt.

Minimum monthly payment IS the interest. If you want to pay off the capital and reduce your interest payments, then you should pay more than the minimum monthly payments.

Of course banks don't like you doing that, they just want a regular source of income.

What you do is pay several times the minimum payment amount every month. That's the only way to get the card paid off.

A minimum payment is just that a minimum payment you must make. There is nothing stopping you from paying more than this amount to bring down your debt quicker

Sounds like your cardholder agreement allows them to change your interest rate at will. Assuming you do in fact have excellent credit, your best bet might be to start shopping for a new credit card company. Obviously, you would want the best rate you can get on a new account, but even if you get one with just a fantastic rate (no interest is best) on balance transfers, you could transfer the balance and get your existing debt paid off more quickly.

Pay more than the minimum, or switch to another card with a zero interest deal for the first few months

It is likely that the bank will raise you minimum payment. I suspect that your interest rate has been increased due to late payments and the bank has yet to raise your minimum payment.

Pay off the whole amount each month, I have done it for years, never paid interest.

You have to pay more than your minimum to pay it off. Pay a lot more!