Get out of debt · UK
Credit Card Repayment Calculator
See how long it takes to clear a credit card balance and how much interest you pay, then compare paying a fixed amount each month against the minimum payment.
Minimum payment uses 1% of the balance plus interest, or £5, whichever is higher. An estimate to help you plan, not debt advice.
- Time to clear
- 2 yrs 2 mos
- Total interest
- £793
- Total you repay
- £3,793
- Interest as a share
- 21%
Why fixed payments beat the minimum
The minimum payment is designed to keep your account ticking over, not to clear it. Because it shrinks as the balance shrinks, it stays only just ahead of the interest, dragging the debt out for years or even decades. Paying a fixed amount each month means more of every payment goes on the balance, so it clears far faster and costs a fraction of the interest.
Juggling more than one card or loan? The debt payoff calculator plans the order to clear them.
Common questions
How long will it take to pay off my credit card?
It depends on your balance, the APR and how much you pay each month. Enter all three above and the calculator shows the months to clear and the total interest. As a rule, paying only the minimum can drag on for decades, while a steady fixed amount clears most balances in a few years.
How do I work out my credit card repayments?
Convert the APR to a monthly rate, add that month's interest to the balance, then subtract your payment, and repeat until it clears. The calculator does this month by month, so you can skip the maths and just read off the time and interest.
Why does paying only the minimum cost so much?
The minimum payment falls as your balance falls, so it barely outpaces the interest. That stretches the debt over many years and piles on interest. Paying a fixed amount instead, even a modest one, clears the card far sooner and for much less.
How is a credit card minimum payment worked out?
Most UK cards set the minimum at the greater of a small percentage of the balance plus that month's interest and fees, or a floor of around £5. This calculator uses 1% of the balance plus interest, or £5, whichever is higher.
What is APR on a credit card?
APR (annual percentage rate) is the yearly cost of borrowing on the card. Card interest is usually added monthly, so we convert the APR to a monthly rate. A typical UK card APR is around 20% to 30%.
Should I pay off my credit card or save?
Card interest is usually far higher than any savings rate, so clearing the card almost always wins financially. Keep a small emergency buffer, then put spare money at the card. A 0% balance transfer can also cut the interest while you clear it.
Will a balance transfer help?
A 0% balance transfer moves the debt to a card charging no interest for a set period, so every pound you pay clears the balance rather than interest. Watch the transfer fee and the date the 0% ends, when the rate jumps back up.
About this calculator
Interest is the APR converted to a monthly rate and added to the balance each month. The minimum payment uses 1% of the balance plus interest, or £5, whichever is greater, which is typical of UK cards but varies by lender. Figures are estimates to help you plan, not debt advice. If you are struggling, free help is available from MoneyHelper, StepChange and Citizens Advice. Last updated June 2026.