Credit Card Payoff Calculator
Find out exactly how long it will take to clear your credit card balance and how much interest you’ll pay along the way. Enter your details below for an instant, personalised payoff plan.
Plan Your Debt-Free Date
Enter your current balance, interest rate, and monthly payment to see how many months it will take to pay off your card, the total interest you’ll pay, and the overall cost of the debt.
Balance & Payment Details
Enter your card balance, APR, and planned payment
Payoff Evaluation
Estimated timeline and total cost of your debt
Payoff Time by Monthly Payment
Estimated months and total interest to clear a £4,000 balance at 24.9% APR, based on different fixed monthly payments.
| Monthly Payment | Payment as % of Balance | Time to Pay Off | Total Interest Paid |
|---|---|---|---|
| £80 (min. only) | 2% | 7+ years | £3,650+ |
| £100 | 2.5% | 4 yrs 8 mo | £1,660 |
| £150 | 3.75% | 2 yrs 8 mo | £930 |
| £200 | 5% | 1 yr 11 mo | £660 |
| £300 | 7.5% | 1 yr 3 mo | £410 |
| £400 | 10% | 11 months | £290 |
| £500 | 12.5% | 9 months | £220 |
Credit Card Payoff FAQ
Everything you need to know about paying down credit card debt and using this calculator.
The calculator applies your card’s monthly interest rate (APR divided by 12) to your remaining balance each month, subtracts your fixed monthly payment, and repeats this until the balance reaches zero. This shows the number of months and total interest required to clear the debt.
Minimum payments are typically calculated as a small percentage of your balance, so as your balance falls, your required payment falls too. Because interest is charged on the remaining balance every month, a shrinking minimum payment can stretch repayment out for many years and dramatically increase the total interest paid.
Even modest additional payments above the minimum go directly towards reducing your principal balance, which reduces the interest charged in every subsequent month. Small increases in your monthly payment can cut years off your repayment time and save a substantial amount in interest.
This estimator assumes a fixed APR applied consistently across the repayment period and does not account for balance transfer fees, promotional 0% periods, late fees, or new spending. For cards with introductory rates, check when your promotional period ends and recalculate using the standard APR from that date.