Credit Card Payoff Calculator
See how long it will take to clear your credit card, the interest it will cost, and how much you save by paying more than the minimum.
Your card
Minimum is usually 1% of the balance plus interest, at least £5. Check your own card’s terms.
No new spending on the card is assumed.
Struggling with debt? StepChange and National Debtline give free, confidential advice.
Fixed payment vs minimum payment
Minimum payments are designed to keep you paying for a long time. Setting a fixed amount and sticking to it, even as the balance falls, clears the debt far faster and saves a lot of interest.
Example: £3,000 at 24.9% APR
- Minimum payments only: about 29 years, with around £6,000 in interest.
- £150 a month: cleared in 27 months, with about £916 interest.
- £250 a month: cleared in 14 months, with about £486 interest.
Tips
- Set up a direct debit for a fixed amount, not the minimum.
- Stop using the card while you pay it off.
- Look at a 0% balance transfer if your credit score allows.
Sources
Figures are checked against these official sources. Last reviewed 7 November 2026.
Common questions
Why does paying the minimum take so long?
Minimum payments are mostly interest, so the balance falls very slowly. A £3,000 balance at 24.9% APR can take almost 30 years to clear on minimums alone.
How is credit card interest worked out?
Your APR is divided across the year and charged on the balance you carry. At 24.9% APR, a £3,000 balance costs roughly £62 in interest in the first month.
Should I use a balance transfer card?
A 0% balance transfer card can save a lot of interest if you clear the balance before the offer ends. There is usually a fee of around 3%.
Which debt should I pay off first?
Pay the minimum on everything, then put any extra towards the debt with the highest interest rate (the avalanche method). Clearing the smallest balance first (the snowball method) can help with motivation.
Where can I get free debt advice?
StepChange, National Debtline and Citizens Advice all offer free, confidential help.