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UK Calculators

Credit Card Repayment Calculator

Estimate how long a fixed monthly payment takes to clear your credit card balance.

Last reviewed

Credit Card Repayment Calculator

Time to clear balance

26 months

Total paid£3,792.64
Total interest£792.64

Reading the result

No further spending, fees or rate changes. Pay the same amount every month rather than a falling minimum payment.

How it works

The annual effective rate is converted to a monthly rate. Interest is added, then your fixed payment is deducted, with a smaller final payment where needed.

Worked examples

Worked example

Card balance (£): 3000; Annual effective interest rate (%): 24.9; Fixed monthly payment (£): 150

  1. The annual effective rate is converted to a monthly rate. Interest is added, then your fixed payment is deducted, with a smaller final payment where needed.
  2. Total paid: £3,792.64
  3. Total interest: £792.64

Time to clear balance: 26 months

Assumptions

The result depends on the following. If any of them do not match your situation, treat the figure as indicative only.

  • No further spending, fees or rate changes. Pay the same amount every month rather than a falling minimum payment.

What this calculator does not do

  • Promotional rates, multiple balance types, daily interest and issuer minimum-payment rules are not included. Plans longer than 100 years are rejected.

Methodology

The annual effective rate is converted to a monthly rate. Interest is added, then your fixed payment is deducted, with a smaller final payment where needed.

Inputs are processed locally. Displayed amounts are rounded; the calculation retains precision.

Frequently asked questions

Why is my payment rejected?

A payment that does not cover monthly interest cannot clear the balance. Increase it until the debt reduces.

Does this calculate minimum payments?

No. It models a fixed payment you choose; your provider’s required minimum may differ.

Please note: Results are estimates for general information only and are not financial, tax or legal advice. Figures depend on the assumptions listed on each page and on your personal circumstances.

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