UK Credit Card Payoff Calculator
Minimum payments can keep you in debt for decades. Enter your balance, APR and monthly payment to see the real payoff time — and what a little extra each month saves you.
How to use this calculator
- Enter current balance.
- Enter card APR.
- Enter monthly payment.
- Enter extra payment on top.
- Your results appear instantly below and update as you change the numbers.
How this calculator works
Credit card interest accrues daily on the outstanding balance and is added monthly. Your payment reduces the balance after interest is charged, so a payment close to the monthly interest barely moves the debt. The calculator runs the full amortisation for your current payment and for the boosted payment, showing both payoff dates and total interest. Worked example: £3,000 at 24.9% APR with £100 a month takes 4 years 7 months and costs £2,479 in interest. Adding £50 a month clears it in 1 year 10 months and cuts interest to £1,022 — saving £1,457.
Frequently asked questions
How much is the minimum payment on a UK credit card?
Typically 1–3% of the balance plus interest, whichever is higher, with a £5 minimum. At that pace, a £3,000 balance at 24.9% takes more than 20 years and costs more than double the original amount — one reason 0% balance transfers are so popular.
Should I do a 0% balance transfer?
If you can get a 0% purchase or balance transfer card, every month of 0% interest goes 100% to your debt. A £3,000 balance moved to a 24-month 0% deal and paid at £125 a month clears with zero interest — saving the £1,400+ shown in the example.
What is the UK credit card 'debt snowball' order?
Pay the minimum on everything, then throw every spare pound at the highest-APR card first (avalanche method) — mathematically the cheapest. Or pay off the smallest balance first (snowball) for psychological wins. Both beat minimum payments; the calculator shows the compounding cost of doing nothing.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect the current tax year and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: GOV.UK income tax rates · National Insurance · Stamp Duty Land Tax.