Credit Card Payoff Calculator UK 2026

Use GlobalCalqulate’s free UK Credit Card Payoff Calculator (2026) to estimate how long it will take to pay off your credit card balance based on APR, monthly payment, and minimum payment rules. Calculate total interest cost, payoff date, and how much faster you can become debt-free with extra payments. Compare strategies like minimum payment vs fixed payment, debt snowball, and debt avalanche — ideal for UK credit card debt planning and 0% balance transfer decisions.

Last revised 13 September 2026

By Team GlobalCalqulate · About our editorial standards

Credit Card Debt

Current balance

Outstanding balance currently owed on the credit card.

APR (%)

Annual Percentage Rate charged by the card provider.

Repayment Strategy

Payment strategy

Monthly payment

Extra monthly payment

One-time lump sum payment

Balance Transfer Scenario

Financial Disclaimer: This is an illustration of how a card balance reduces under the payments you enter, not financial advice. Your card's actual terms, minimum payment rules and interest calculation may differ. If debt is becoming unmanageable, free help is available from StepChange, National Debtline or Citizens Advice. Full disclaimer.

Sources & methodology

Formula:: Monthly interest charge
Reference:: Financial Conduct Authority Handbook

Calculation type: Exact calculation. Figures are taken from Financial Conduct Authority Handbook — see sources below.

Your entries stay on this device. This calculator runs entirely in your browser — the figures you type are not sent to us or to anyone else. The page itself uses cookies for analytics and advertising, described in the privacy policy.

Formula & methodology

Formula used

Monthly interest charge

Interest = balance × (APR ÷ 12)

Interest is charged on the balance still outstanding, so it falls only as the balance falls.

Minimum payment (percentage method)

Payment = max(balance × minimum %, floor)

A minimum payment is usually a percentage of the balance, so it shrinks as the balance does — which is exactly why paying only the minimum takes so long.

Balance after a payment

New balance = balance + interest − payment

Only the part of a payment above that month's interest reduces what you owe.

Variable definitions

Symbol	Meaning	Unit
B	Balance. The amount currently outstanding on the card.	£
APR	Annual percentage rate. The yearly cost of the debt. Divided by 12 to charge each month.	% per year
Extra	Extra monthly payment. Any amount paid above the contractual minimum or fixed payment.	£/month
Lump sum	One-off payment. A single payment applied at the start, before the monthly schedule runs.	£

Step-by-step calculation

1. Apply any lump sum first
A one-off payment reduces the balance immediately, so all later interest is charged on less.
2. Charge one month of interest
Multiply the outstanding balance by the APR divided by 12.
3. Apply the payment
Either the fixed amount or the recalculated minimum, plus any extra payment.
4. Repeat until the balance clears
Iterating month by month gives the payoff time and the total interest, which a single closed-form equation cannot do once minimums shrink.

Limitations

Assumes a constant APR. Promotional 0% periods, balance-transfer fees and reversion rates are not modelled, and a card issuer can change the rate.
Assumes no further spending on the card. New purchases restart the cycle and can cancel out the effect of overpaying entirely.
Real minimum payments vary by issuer — commonly a percentage of the balance or a small fixed floor, whichever is greater — and may include that month's interest and fees.
Late or missed payments trigger charges and can remove promotional rates; none of that is modelled here.
Interest is applied monthly for clarity. Card issuers typically calculate on average daily balances, so real figures differ slightly.

This page is educational. It applies a standard formula to the figures you enter and shows the arithmetic behind the result. It is an estimate, not an offer, a quotation or financial advice: real costs depend on the provider's pricing, fees and underwriting, and on circumstances this calculator does not collect.

Sources & references

RegulationCONC 6.7 — Post contract: business practices (credit card minimum payments and persistent debt) — Financial Conduct Authority Handbook
The rules governing UK credit card minimum payments and the persistent-debt intervention — the reason paying only the minimum extends the payoff time this calculator projects.

Help & FAQs

Frequently Asked Questions

Clear answers to common questions to help you use this calculator confidently.

Does the calculator assume a fixed interest rate?

Tap to view the answer

Yes, the calculator generally assumes the interest rate remains constant. If your card has a variable rate or promotional period, actual results may vary. You can update inputs to explore different scenarios.

Are fees and penalties included?

Tap to view the answer

The calculator does not typically include late fees, over-limit charges, or annual fees. These costs may increase your actual repayment amount. Results are simplified estimates.

What happens if I increase my monthly payment?

Tap to view the answer

Increasing your payment generally shortens the payoff time and reduces total interest. You can adjust the payment input to see updated estimates. Results will change accordingly.

What if I make a one-time extra payment?

Tap to view the answer

You can reduce your balance by the extra amount and recalculate. This shows how a lump-sum payment may affect your payoff timeline. Results are indicative.

What if I stop using the card for new purchases?

Tap to view the answer

The calculator assumes no new spending is added. Adding new charges may extend the payoff timeline. Results should be treated as planning estimates.

Need more help? Contact support or email globalcalqulate@gmail.com

We typically reply within 24–48 hours.

Debt Snowball Calculator

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How to Use This Calculator

Enter Credit Card Balance

Add your current credit card balance.

Enter APR (Interest Rate)

Provide the card’s annual percentage rate (APR).

Choose Monthly Payment

Enter your planned monthly payment or use minimum payment modelling.

View Payoff Results

See payoff date, total interest, and time saved with extra payments.

Key Tips

✓
Pay More Than Minimum: Even small extra payments dramatically reduce interest and time.
✓
Avoid New Charges: Stop using the card while paying it off.
✓
Consider 0% Balance Transfer: May reduce interest if you can repay within the promo period.
✓
Use Strategy Tools: Combine with Snowball or Avalanche calculators for multiple debts.

How Credit Card Payoff Works in the UK

Minimum Payments

Minimum payments usually cover interest plus a small portion of balance, causing long payoff periods.

APR Impact

Higher APR means more interest charged each month and slower progress.

Extra Payments

Additional payments reduce principal faster and cut interest costs.

Balance Transfers

0% balance transfers can reduce interest if fees and timing are managed carefully.

Formula & methodology

Formula used

Monthly interest charge

Interest = balance × (APR ÷ 12)

Interest is charged on the balance still outstanding, so it falls only as the balance falls.

Minimum payment (percentage method)

Payment = max(balance × minimum %, floor)

A minimum payment is usually a percentage of the balance, so it shrinks as the balance does — which is exactly why paying only the minimum takes so long.

Balance after a payment

New balance = balance + interest − payment

Only the part of a payment above that month's interest reduces what you owe.

Variable definitions

Symbol	Meaning	Unit
B	Balance. The amount currently outstanding on the card.	£
APR	Annual percentage rate. The yearly cost of the debt. Divided by 12 to charge each month.	% per year
Extra	Extra monthly payment. Any amount paid above the contractual minimum or fixed payment.	£/month
Lump sum	One-off payment. A single payment applied at the start, before the monthly schedule runs.	£

Step-by-step calculation

1. Apply any lump sum first
A one-off payment reduces the balance immediately, so all later interest is charged on less.
2. Charge one month of interest
Multiply the outstanding balance by the APR divided by 12.
3. Apply the payment
Either the fixed amount or the recalculated minimum, plus any extra payment.
4. Repeat until the balance clears
Iterating month by month gives the payoff time and the total interest, which a single closed-form equation cannot do once minimums shrink.

Limitations

Assumes a constant APR. Promotional 0% periods, balance-transfer fees and reversion rates are not modelled, and a card issuer can change the rate.
Assumes no further spending on the card. New purchases restart the cycle and can cancel out the effect of overpaying entirely.
Real minimum payments vary by issuer — commonly a percentage of the balance or a small fixed floor, whichever is greater — and may include that month's interest and fees.
Late or missed payments trigger charges and can remove promotional rates; none of that is modelled here.
Interest is applied monthly for clarity. Card issuers typically calculate on average daily balances, so real figures differ slightly.

Sources & references

RegulationCONC 6.7 — Post contract: business practices (credit card minimum payments and persistent debt) — Financial Conduct Authority Handbook

The rules governing UK credit card minimum payments and the persistent-debt intervention — the reason paying only the minimum extends the payoff time this calculator projects.

Calculator inputs

Credit Card Debt

Repayment Strategy

Balance Transfer Scenario

Your results

Sources & methodology

Formula & methodology

Formula used

Monthly interest charge

Minimum payment (percentage method)

Balance after a payment

Variable definitions

Step-by-step calculation

Limitations

Sources & references

Does the calculator assume a fixed interest rate?

Are fees and penalties included?

What happens if I increase my monthly payment?

What if I make a one-time extra payment?

What if I stop using the card for new purchases?

Related calculators

More United Kingdom calculators

Calculator inputs

Credit Card Debt

Repayment Strategy

Balance Transfer Scenario

Your results

Sources & methodology

How to Use This Calculator

Example Credit Card Payoff (UK)

Understanding Your Results

Key Tips

How Credit Card Payoff Works in the UK

Minimum Payments

APR Impact

Extra Payments

Balance Transfers

Formula & methodology

Formula used

Monthly interest charge

Minimum payment (percentage method)

Balance after a payment

Variable definitions

Step-by-step calculation

Limitations

Sources & references

How to Use This Calculator

Example Credit Card Payoff (UK)

Understanding Your Results

Key Tips

How Credit Card Payoff Works in the UK

Minimum Payments

APR Impact

Extra Payments

Balance Transfers