Credit Card Calculator — UK

See how long it takes to clear your UK credit card balance and how much interest you'll pay at different repayment amounts.

Details

Credit Card Balance

Annual Interest Rate (APR)

Payment Type

Monthly Payment

Minimum Payment %

Results

Enter details and click Calculate

Credit Card Payoff Calculator UK — Stop Paying More Interest Than You Need To

UK credit cards charge some of the highest interest rates of any consumer debt — typically 20%–35% APR, with some store cards and subprime cards charging over 50% APR. This calculator shows exactly how long it will take to clear your credit card balance and how much interest you'll pay under different repayment strategies. The results are often shocking — and motivating.

On a typical UK credit card balance of £3,000 at 23.9% APR, paying only the minimum (around £75/month) takes over 20 years to clear and costs nearly £4,000 in interest — more than the original debt. By paying a fixed £150/month instead, you're debt-free in under 2 years and pay under £600 in interest. Use this calculator to find a repayment amount that fits your budget and gets you debt-free fast.

How UK Credit Card Interest Works

UK credit card interest is charged daily on your outstanding balance at 1/365th of the annual rate. Interest is added to your balance monthly. If you pay your balance in full each month, you pay zero interest — the interest-free period typically runs from the statement date to the payment due date (usually 25–56 days).

UK minimum payments are typically the higher of: 1% of balance + interest, £25, or the full balance if under £25. Paying only the minimum means you're barely covering the interest.
Under FCA rules, UK credit card providers must contact customers who have been in persistent debt (paying mainly interest) for 18 months and offer a repayment plan.
Balance transfers allow you to move a credit card balance to a new card at 0% interest for an introductory period (typically 12–30 months), freezing interest and letting you repay the capital.
Purchase credit cards with 0% introductory periods allow you to make large purchases interest-free if you repay within the promotional window.

How to Use This Calculator

Enter your current Credit Card Balance in pounds (e.g., £3,000).
Enter your card's Annual Interest Rate (APR) — check your card statement or provider app (e.g., 23.9%).
Enter your planned Monthly Payment — try your current minimum payment first, then increase it to see the impact.
Click Calculate to see your payoff timeline and total interest paid.
Experiment with higher monthly payments to find the fastest affordable path to clearing your balance.

Key Terms

APR (Annual Percentage Rate): The annual interest rate on your credit card balance. UK credit card APRs typically range from 19.9%–35% for standard cards, 0%–3% for 0% purchase/balance transfer cards during the promotional period, and up to 50%+ for store cards and subprime cards. Check your card agreement for your personal rate.
Balance Transfer: Moving an existing credit card balance to a new card, usually at 0% interest for an introductory period. UK balance transfer cards typically charge a fee of 1%–3% of the transferred amount. If you can repay the balance within the 0% period, this is one of the most effective ways to clear credit card debt.
Persistent Debt: Defined by the FCA as a situation where you've paid more in interest and charges than you've repaid in capital over 18 months. UK credit card providers must contact customers in persistent debt and offer options to repay more quickly. If you receive such a letter, it's a warning sign to address your debt.
Credit Utilisation: The percentage of your available credit limit that you're using. UK credit reference agencies recommend keeping utilisation below 30% to maintain a healthy credit score. High utilisation (over 75%) can significantly reduce your credit score and limit your options.
Section 75 Protection: Under the Consumer Credit Act, UK credit card purchases between £100 and £30,000 are protected — your card provider is jointly liable with the retailer if goods are faulty, not delivered, or the retailer goes bust. This is a key advantage of paying by credit card for larger UK purchases.

Tips for UK Credit Card Holders

Set up a direct debit for the full balance each month — this guarantees you never pay interest and never miss a payment.
If you have existing debt, look at 0% balance transfer cards — deals of 20–30 months are available for good credit applicants. Use the transfer fee calculator to confirm savings.
Never use a credit card for cash withdrawals — interest starts immediately (no interest-free period), rates are typically higher, and there's usually a cash advance fee.
If you're in persistent debt (paid more interest than capital over 18 months), contact your provider — they're required by the FCA to offer you a structured repayment plan.
Section 75 protection means credit card payments over £100 have built-in consumer protection — use your card for large purchases and pay it off immediately.
Keep your credit utilisation below 30% of your limit to protect your credit score — even if you pay in full each month, a high utilisation can temporarily lower your score.

Frequently Asked Questions

The average UK credit card purchase rate is around 23%–25% APR for standard cards, according to Bank of England data. Rewards and cashback cards often sit at 20%–30% APR. Store cards and subprime cards can charge 40%–60% APR. Balance transfer and 0% purchase cards offer 0% for introductory periods, reverting to typically 20%–24% APR afterwards. Always check the rate your card reverts to after any promotional period.

Use an eligibility checker on a comparison site (MoneySuperMarket, MoneySavingExpert's eligibility calculator) to see which 0% balance transfer cards you're likely to be approved for — these use soft searches that don't affect your credit score. You'll typically need a good credit history. Once approved, transfer within 60–90 days to get the 0% rate. Pay off the full balance before the 0% period ends to avoid the revert rate.

Section 75 of the Consumer Credit Act makes your credit card provider jointly liable with the retailer for purchases between £100 and £30,000. If a retailer goes bust, doesn't deliver goods, or delivers faulty items, you can claim a full refund from your credit card provider — even if you only paid a small deposit on the card. This protection applies to UK purchases and many overseas purchases. It's one of the strongest consumer protections available.

Since 2011, UK credit card statements must show how long it will take to clear the balance paying only the minimum — often 20+ years. Paying minimums means you're mostly paying interest with very little reducing the capital. On a £2,000 balance at 23.9% APR, minimum payments can take over 15 years and cost over £2,500 in interest. Paying even a small fixed amount above the minimum dramatically accelerates payoff.

Yes — it's worth calling your provider and asking, especially if you have a good payment history. Some providers will reduce your rate to retain you as a customer, particularly if you mention you're considering a balance transfer elsewhere. Alternatively, you can accept a temporary hardship arrangement that reduces interest if you're struggling financially. Either way, it costs nothing to ask.

Closing a credit card can affect your score in two ways: it reduces your available credit (increasing your utilisation ratio) and shortens your average account age. For most UK consumers, the impact is small and temporary. However, if the card you're closing is your oldest account or carries a large limit, it may have a more noticeable short-term impact. Clearing and keeping a card open (but unused) is sometimes better for your score than closing it.