Credit Card Repayment Calculator UK
Calculate repayment time, interest costs, debt-free date and overpayment savings.
Calculator Inputs
Warning
Your payment may be too low to clear the debt.
Repayment Time
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Total Interest
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Total Cost
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Interest Saved
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Balance Reduction
Interest vs Principal
Payment Allocation
Amortisation Schedule
| Month | Start Balance | Interest | Payment | Principal | End Balance |
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Enter your card balance and APR, then choose how you’ll repay: a fixed amount each month, the card’s minimum payment, or a percentage of the balance. The calculator shows how long it will take to clear, how much interest you’ll pay, and what difference an overpayment or one-off lump sum would make. The full month-by-month schedule is above.
Your APR is on your statement. If you’re on a 0% promotional deal, use the rate it reverts to unless you’re sure you’ll clear the balance before the offer ends.
How long it takes to pay off a credit card
All of these assume 24.9% APR and no new spending. “Minimum only” means paying 1% of the balance plus that month’s interest, which is a common way UK cards set the minimum.
| Balance | Monthly payment | Time to clear | Total interest |
|---|---|---|---|
| £2,000 | Minimum only | 25 years | £3,525.01 |
| £2,000 | £50 fixed | 6 years 3 months | £1,720.22 |
| £2,000 | £100 fixed | 2 years 2 months | £528.41 |
| £5,000 | Minimum only | 32 years 7 months | £9,134.94 |
| £5,000 | £150 fixed | 4 years 5 months | £2,905.75 |
| £5,000 | £250 fixed | 2 years 2 months | £1,321.07 |
| £10,000 | Minimum only | 38 years 4 months | £18,485.77 |
| £10,000 | £250 fixed | 6 years 3 months | £8,600.60 |
| £10,000 | £400 fixed | 2 years 11 months | £3,605.73 |
The £5,000 rows say it all. Paying the minimum takes over 32 years and costs £9,134.94 in interest. Paying £250 a month clears it in just over two years and saves £7,813.87.
Why minimum payments take so long
The minimum is worked out from the current balance, so as the balance goes down, so does the payment. Most of each payment goes on interest, and the debt shrinks very slowly. The simple fix is to pick a fixed amount, ideally a bit more than your first minimum, and keep paying that even as the minimum falls. Choose “Fixed Monthly Payment” in the calculator to see the effect.
Overpayments and lump sums
On the default example of £5,000 at 24.9% with £150 a month, the card is clear in 4 years 5 months with £2,905.75 of interest. Add just £11 a month plus a £1,000 lump sum in month six, perhaps from a bonus or tax refund, and it’s done in 2 years 11 months with £1,629.75 of interest. That’s £1,276 saved.
How the interest is worked out
Each month, the calculator adds interest to the balance, takes off your payment, and repeats until the balance reaches zero. It turns APR into a monthly rate with (1 + APR)1/12 − 1, so 24.9% APR works out at about 1.87% a month, or £93.51 of interest in the first month on £5,000. Card providers calculate interest on daily balances and may charge fees, so your statements won’t match to the penny.
Persistent debt
If over 18 months you’ve paid more in interest, fees and charges than you’ve paid off the balance, you’re in what the rules call persistent debt. Your card provider has to contact you and suggest paying more if you can. If you’re still in persistent debt after 36 months, it must offer a way to clear the balance within a reasonable time, and it may suspend the card. If you get one of these letters, it’s worth taking seriously; MoneyHelper has a good guide.
Would a balance transfer help?
A 0% balance transfer card lets you move the debt and pay no interest for a set period, usually for a one-off fee of around 3%. On £5,000 that fee is £150, compared with £1,321.07 of interest clearing the same balance at 24.9% with £250 a month.
The catch is that you need to clear it before the 0% period ends, because the rate usually jumps afterwards. Divide the balance plus fee by the number of months: £5,150 over 24 months is about £215 a month. You can check this by setting the APR to 0% in the calculator. If you have several cards, the Debt Repayment Calculator helps you decide which to tackle first.
Questions people ask
How long does it take to pay off £2,000 on a credit card?
At 24.9% APR, about 2 years 2 months paying £100 a month (£528.41 interest), or 6 years 3 months at £50 a month. Paying only the minimum could take around 25 years.
How long to pay off a £5,000 credit card?
At 24.9% APR, about 2 years 2 months at £250 a month (£1,321.07 interest), or 4 years 5 months at £150 a month. Minimum payments only could take over 32 years.
How long to pay off £10,000 of credit card debt?
At 24.9% APR, about 2 years 11 months at £400 a month (£3,605.73 interest), or 6 years 3 months at £250 a month. Minimum payments only could take over 38 years.
Can I use this for more than one card?
It works on one balance at a time. For several cards, use the Debt Repayment Calculator, which compares the snowball and avalanche methods.
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