Credit card payoff calculator

Use this calculator to estimate your credit card payoff date, total interest, and the impact of adding an extra payment. It’s designed for UK-style card repayments with a fixed APR and consistent monthly payments.

Estimates only No sign-up Optional local save
What this assumes
  • APR stays fixed throughout.
  • Interest compounds monthly (APR ÷ 12).
  • Payments are made monthly and stay the same until the final payment.
  • No new spending, fees, or promotional rates.
For regulated advice, speak to a qualified professional.

Your details

Enter your current balance, APR, and what you can pay each month.

Use your statement balance (not the credit limit).
Use the card’s purchase APR unless you’re paying a balance transfer APR.
If you pay the minimum, check your statement for the typical amount.
Extra payments reduce principal faster and can materially cut interest.

Results

Time to repay
—
—
Payoff date
—
Estimated month you become debt-free
Total interest
—
Across the full payoff period
Interest saved
—
With extra payment vs none
Payment timeline —
Checkpoint Payment Interest Balance
How this calculator works
  • Updated for current UK assumptions.
  • APR stays fixed throughout.
  • Interest compounds monthly (APR ÷ 12).
  • Payments are made monthly and stay the same until the final payment.

FAQs

Common questions about credit card repayment

Why does my statement payoff differ from this calculator?

Many UK cards calculate interest daily and apply it at different times. Fees, promotional rates, and minimum payment rules can also change the result.

What if I only pay the minimum?

If the minimum barely exceeds interest, repayment can take a long time. Use your typical minimum as the monthly payment input to see an estimate.

What APR should I use?

Use the APR for the balance you’re repaying (purchase APR, cash APR, or balance transfer APR). If multiple rates apply, this tool is an estimate.

Does an extra payment always help?

Yes, if it reduces principal. Extra payments usually shorten the term and reduce interest, unless your card has fixed fees or you increase spending again.

Can I use this for 0% promotional periods?

You can enter 0% APR to estimate a payoff schedule during the promotional period. When the promo ends, rerun the calculation with the new APR.

Is it better to overpay or switch cards?

Overpaying reduces interest at your current APR. A 0% balance transfer may reduce interest faster, but check fees, eligibility, and the end date of the promotional rate.

What if my payment date is mid-month?

This tool models monthly periods. If you pay mid-month, the payoff month is still a reasonable estimate, but interest can differ slightly.

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