Credit Card Payoff Calculator

See how long it will take to clear your credit card balance and how much interest you'll pay — on minimum payments only, or a fixed amount you choose each month.

Estimate only. This is an estimate — representative figures, not financial advice. Your card provider's actual minimum payment formula, interest calculation and any promotional rates may differ. Check your credit agreement or statement for the exact terms.

Your balance

Card balance

The amount currently owed on the card

APR

The purchase interest rate shown on your card statement

Payment plan

Minimum payment is the greater of 1% of the balance plus that month's interest, or £5.

Compare balance & money transfer offersBorrowing from one card to pay off another

Moving this balance to a card with a 0% or low-rate introductory offer can clear it far more cheaply than paying it down on its current card. Add each offer you're considering below to see which one genuinely costs the least.

Balance to transfer/clear

The amount you want to move to a new card — often the same as your card balance above

Monthly payment you can afford

Optional. Leave blank to see the payment needed to clear each offer within its own intro period, with no leftover interest.

Transfer type

Balance transfer moves a card balance to the new card. Money transfer pays cash into your bank account instead.

Intro rate

Intro period

Transfer fee

APR after intro ends

Transfer type

Balance transfer moves a card balance to the new card. Money transfer pays cash into your bank account instead.

Intro rate

Intro period

Transfer fee

APR after intro ends

Enter your card balance and APR

How long it takes to clear your balance, and the total interest you'll pay, appear here as you type.

Compare balance & money transfer offers

Enter a balance and at least 2 offers

Add the balance you want to move above and each offer's terms — the cheapest way to clear it appears here.

How credit card payoff is calculated

Every month, interest is added to your balance (APR ÷ 12), then your payment is applied — first to that month's interest, with the rest reducing what you owe. The minimum payment on most UK cards is the greater of 1% of the balance plus that month's interest, or £5, which is why balances paid on minimums alone can take many years to clear and cost far more in interest than a fixed higher payment. Paying more than the minimum every month, even a small amount, meaningfully cuts both the time to clear the balance and the total interest paid.