UK Credit Card Calculator

Find out how long it will take to clear your credit card balance and how much interest you will pay.

Time to Pay Off
0 months
at current payment rate
Total Interest Paid
£0.00
Total Amount Paid
£0.00
Monthly Rate
0.00%
Enter your balance and APR to see how long it takes to clear.
Balance Over Time

Credit Card Payoff · How Long and How Much Interest?

Based on 20% APR (UK average). Minimum payment assumed at 2% of balance or £25, whichever is higher.

Balance Min Only (months) Min Payment Interest £100/mo Fixed £100/mo Interest £200/mo Fixed £200/mo Interest
£1,00062£45111 months£615 months£24
£2,00088£1,05622 months£18510 months£73
£3,000104£1,78235 months£33316 months£135
£5,000127£3,43662 months£66327 months£256
£10,000162£8,239137 months£1,69651 months£574

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Credit Card Calculator FAQs

How long does it take to pay off a £5,000 credit card balance?
At 20% APR paying minimum only, a £5,000 balance takes approximately 127 months (over 10 years) and costs £3,436 in interest. Paying a fixed £100/month clears it in 62 months with £663 interest. Paying £200/month reduces this to 27 months and just £256 interest.
How can I pay off my credit card faster?
Fix your monthly payment at the highest amount you can afford and keep it constant · do not let it reduce as the balance falls. Even an extra £50/month makes a significant difference over time. Use the snowball or avalanche method if you have multiple cards, and consider a 0% balance transfer to pause interest accrual.
Are 0% balance transfer cards worth it in the UK in 2026?
Yes, if you have a plan to clear the balance within the 0% period. Most UK balance transfer cards charge a fee of 2–3% of the transferred amount but offer 0% interest for 12–30 months. If you can clear or significantly reduce the debt during the promotional period, the interest saving far outweighs the transfer fee.
Why is only paying the minimum on a credit card dangerous?
Minimum payments shrink as your balance falls, so you make slower and slower progress. Most of each payment covers interest rather than debt. A £5,000 balance at 20% APR on minimum payments only costs over £3,400 in interest and takes more than 10 years to clear. Always pay more than the minimum wherever possible.

For informational purposes only · Not financial advice