Precision Utility
Credit Card Payoff
Calculator
Avg UK Card APR
23.9%
Avg UK Card Debt
£2,300
See exactly how long it will take to pay off your credit card and how much interest you will pay. Enter your current balance, APR and monthly payment to get a personalised payoff timeline. The calculator also compares your chosen payment against the minimum payment so you can see how much time and money you save by paying more each month.
Payment Details
Months to Pay Off
0
Total Interest Paid
£0
Total Amount Paid
£0
Payoff Date
--
Monthly Payment
£0
Minimum Payment Comparison
Your Payment
Months: 0
Total interest: £0
Total paid: £0
Minimum Payment
Months: 0
Total interest: £0
Total paid: £0
Pay more to see your savings.
How the credit card payoff calculator works
Enter your current credit card balance — the total amount you owe today. Next, enter your card's annual percentage rate (APR), which you can find on your monthly statement or by logging into your card provider's website. Then set the monthly payment you plan to make each month.
The calculator runs a month-by-month amortisation loop. Each month, it charges interest on the remaining balance at your APR divided by 12, then subtracts your monthly payment. It counts each month until the balance reaches zero, giving you the total number of months to pay off your card and the total interest you will pay.
It also calculates what would happen if you only made minimum payments — defined as 1% of the outstanding balance plus that month's interest, or £5, whichever is greater. This reflects the typical UK minimum payment formula. By comparing the two scenarios side by side, you can see exactly how many months and pounds you save by paying more than the minimum.
If your monthly payment does not cover the monthly interest charge, the calculator warns you that the balance will never be paid off at that rate. In that case, increase your monthly payment to at least cover the interest so the principal starts shrinking.
What you need to know about credit card debt in the UK
The average UK credit card APR is approximately 23.9% as of 2025, making credit card debt one of the most expensive forms of borrowing. Even a moderate balance can generate thousands of pounds in interest if you only pay the minimum each month.
Persistent debt rules are enforced by the FCA. If you have been paying more in interest, fees and charges than you have repaid of your actual balance over 18 months, your lender must write to you. After 36 months of persistent debt, they must offer you a way to repay more affordably — which may include reducing or freezing interest altogether.
0% balance transfer cards are widely available in the UK, with promotional periods of 12 to 29 months. Moving your balance to a 0% card can save you hundreds or thousands in interest, but watch for the transfer fee (typically 1–3%) and make sure you clear the balance before the 0% period ends. Set up a direct debit for at least the minimum to avoid losing the promotional rate.
Section 75 protection is a unique benefit of UK credit cards. Under Section 75 of the Consumer Credit Act 1974, your card provider is jointly liable with the retailer for purchases between £100 and £30,000. If a seller goes bust or goods are faulty, you can claim a refund directly from your card issuer.
The single most effective strategy is simple: pay as much as you can above the minimum every month. Even an extra £50 makes a significant difference over time. Use this credit card payoff calculator to set a target payment that gets you debt-free on a timeline you can commit to.
Frequently asked questions
How long will it take to pay off my credit card?
The time depends on your balance, APR and monthly payment. Enter your numbers into the credit card payoff calculator above to get an exact month count and payoff date. For example, a £5,000 balance at 23.9% APR with £150 monthly payments takes about 48 months to pay off.
What is persistent debt?
Persistent debt is an FCA definition for when you pay more in interest, fees and charges than you repay of your actual balance over 18 months. Your lender must contact you at 18 months and again at 27 months. After 36 months they must offer you a way to repay more affordably, which may include freezing interest.
What is the average credit card interest rate in the UK?
The average UK credit card APR is approximately 23.9% as of 2025. However, rates range from 0% on promotional balance transfer deals to over 35% for store cards or borrowers with thinner credit files. Your rate depends on your credit score and the card provider.
Should I do a balance transfer to pay off my credit card faster?
A 0% balance transfer card can save you hundreds or thousands in interest if you commit to clearing the balance within the promotional period. UK providers commonly offer 0% for 12 to 29 months. Watch for the transfer fee (typically 1–3%) and set up a direct debit for at least the minimum payment to avoid losing the 0% rate.
Why does paying only the minimum take so long?
UK minimum payments are typically 1% of the balance plus that month's interest, or £5, whichever is greater. Because only 1% of the actual debt is repaid each month, the balance shrinks very slowly. A £5,000 balance at 23.9% APR with minimum-only payments could take over 25 years to clear.
What is Section 75 protection on a credit card?
Section 75 of the Consumer Credit Act 1974 makes your credit card provider jointly liable with the retailer for purchases between £100 and £30,000. If a seller goes bust or goods are faulty, you can claim a refund directly from your card issuer. This protection is unique to UK credit cards and does not apply to debit cards.
How much interest will I pay on my credit card balance?
Total interest depends on your balance, APR and how quickly you pay it off. Use the credit card payoff calculator to see the exact figure. As a rough guide, paying only the minimum on a £5,000 balance at 23.9% APR can cost you over £7,000 in interest alone.