Credit Card Repayment Calculator

Find out when you’ll be debt-free, how much interest you’ll pay, and how much longer paying only the minimum would take.

Card balance

Interest rate

The purchase rate on your statement

Monthly repayment

This month’s minimum: £92.25

More options

Your card’s minimum repayment

At least £5, unless the balance is less

Debt-free in

2 years 3 months

Paying £150 a month on £3,000 at 24.9%

Total interest: £916
Paying only the minimum: 28 years 9 months

Balance£3,000
Interest£916

What this means

Paying only the minimum would take 28 years 9 months. Everything you pay above the minimum goes straight off the balance, which is why paying more clears it so much faster.

Card interest is usually the most expensive debt you can have, so it’s worth clearing before saving beyond an emergency fund.

Next step

Your plan against the minimum

	Your plan	Minimum only
First repayment	£150.00	£92.25
Time to clear	2 years 3 months	28 years 9 months
Total interest	£916	£5,999
Total paid	£3,916	£8,999

Paying £150 a month saves £5,083 in interest against the minimum.

To be debt-free sooner

Clear it in	Pay a month	Interest
1 year	£284.99	£420
2 years	£159.96	£839
3 years	£119.12	£1,288
5 years	£87.88	£2,273

The UK has the longest 0% balance transfer deals: often 24 months or more for a fee of about 3%, or shorter deals with no fee.

Assumptions in this estimate

Interest is added monthly at one-twelfth of the yearly rate. Card providers usually work it out daily, so your statements may differ slightly.
Assumes you don’t spend anything new on the card, the rate stays the same, and there are no fees or late charges.
The minimum repayment is 1% of the balance plus interest, or £5 if that’s more, so it falls as the balance falls.
FCA rules say the minimum must cover the interest, charges and at least 1% of the balance. If you pay more in interest and charges than off the balance for 18 months, your card provider has to contact you about paying more.
Many credit cards advertise a representative APR of about 25% to 35%. Your statement shows your card’s own rate.

Spotted a mistake? Tell us

How the calculator works

Your plan: each month, interest is added and your repayment comes off, until the balance is cleared.
Paying only the minimum: worked out with your card’s minimum repayment formula, which you can change under More options.
To be debt-free sooner: the monthly repayment that would clear the balance in 1, 2, 3 or 5 years.

Paying more makes a big difference

£3,000 at 24.9%:

Monthly repayment	Time to clear	Total interest
Minimum only	28 years 9 months	£5,999
£150	2 years 3 months	£916
£300	1 year	£398

Many credit cards advertise a representative APR of about 25% to 35%.

Tips to clear it faster

Stop using the card while you pay it off.
Pay more than the minimum, even a little.
With more than one card, pay the minimum on each and put anything extra on the one with the highest rate.

Last updated October 14, 2026

Frequently asked questions

How long will it take to pay off £3,000 on a credit card?

At 24.9%, paying £150 a month clears it in 2 years 3 months, with £916 of interest. Paying only the minimum (1% of the balance plus interest, at least £5) would take 28 years 9 months and cost £5,999 in interest.

How much should I pay to clear it in 3 years?

On £3,000 at 24.9%, £119.12 a month. To clear it in 2 years, £159.96 a month.

What is persistent debt?

If you pay more in interest and charges than off the balance over 18 months, FCA rules say your card provider must contact you about paying more. If it carries on for 36 months, they must offer you a way to clear it in a reasonable time.

Is a balance transfer worth it?

UK 0% balance transfer deals are often 24 months or more for a fee of about 3%, or shorter with no fee. It usually pays off if you can clear most of the balance before the 0% ends and don’t add new spending.