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Credit Card Interest Calculator

Estimate your payments and find out how long it could take to pay off your credit card debt

Use our credit card repayment calculator to work out how long it could take to repay your balance and the interest you might pay. Enter your balance, APR, and monthly payment to get a quick result. You can also check whether a balance transfer credit card could help reduce interest and repayment time

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For guidance only. Results are illustrative and based on the details you enter. Actual interest rates, repayments, fees and minimum payments vary by provider and your individual circumstances. Promotional or introductory rates may be withdrawn if payments are missed.

CreditKnowledge is a credit broker, not a lender. We may receive a commission if you take out a product via our service. Our comparisons are based on the features and benefits of the products, not on the commission we earn. You must be 18+ and a UK resident. Credit subject to status and eligibility.
Representative 24.9% APR (variable). T&C's apply.

What Your Calculator Results Mean

After entering your balance, APR, and monthly payment, the calculator provides an illustrative estimate of:

Time to repay – how long it may take to clear your balance
Total interest – the potential interest you might pay
Total repayment – the combined balance and interest

These figures are for guidance only. Actual repayments, interest, and fees will vary depending on your credit card provider and individual circumstances.

Example: Month-by-Month Repayment Schedule

Scenario: £2,000 balance, 24.9% APR, £150 monthly payment

Month	Payment (£)	Interest (£)	Amount Paid Toward Balance (£)	Remaining Balance (£)
1	150	41.50	108.50	1,891.50
2	150	39.27	110.73	1,780.77
3	150	37.04	112.96	1,667.81
4	150	34.84	115.16	1,552.65
5	150	32.61	117.39	1,435.26
…	…	…	…	…
15	150	7.65	142.35	0

Please Note:
- Figures are illustrative only and rounded for simplicity.
- Paying only the minimum would increase repayment time and total interest.
- Missing payments may end promotional or introductory rates and increase costs.

See if You Could Save With a Balance Transfer Credit Card

Our calculator tool also includes a switch and save feature that shows the difference between staying on your current card and moving to a balance transfer option. You’ll be able to compare:

Your monthly payments.
When you’ll pay off your balance.
Total interest paid and fees.
How much you could save.

It’s a simple way to see whether switching could realistically help you pay off your credit card debt faster before you apply.

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Calculating the Minimum Payment on a Credit Card

Only paying the minimum amount each month can make your borrowing more expensive and keep you in debt for longer, unless you have a 0% interest deal on your card. Card providers have different rules for minimum payments. It will usually be a percentage of your balance, or a fixed amount, whichever is higher. Our credit card calculator can help you:

Estimate what your minimum payment might be based on your balance.
See how long it could take to clear your card if you only pay the minimum.
Compare different payment amounts to see how soon you could be debt-free.

Always check your statement for the exact figure you need to pay your provider.

Stay in Control of Your Credit Card Borrowing

Using a credit card repayment calculator is just one step towards managing your borrowing more confidently. You can also:

Check your credit score and report to see how you might appear to lenders.
Compare credit card offers that might have lower APRs or balance transfer deals.
Set a realistic payment plan based on what you can comfortably afford each month.

If you are struggling to keep up with your credit card payments, free help is available from organisations such as MoneyHelper and StepChange.

Tips to Reduce Credit Card Debt

Pay more than the minimum each month
Making payments above the minimum helps you reduce your balance faster and pay less interest over time. Even a small increase can make a big difference in how quickly your debt is cleared.
Consider a balance transfer card
If you have high-interest credit card debt, a balance transfer card with a lower or 0% introductory rate may help you save on interest. Be aware of any balance transfer fees and the length of the promotional period.
Avoid new debt while repaying existing balances
Taking on additional debt can make it harder to pay off existing balances and increase the total interest you pay. Try to limit new spending on credit cards until your current balances are under control.

Additional tips:

Track your spending and set a monthly budget.
Prioritise paying off cards with the highest interest first.
Set up alerts or automatic payments to avoid missing due dates.

These are general tips only and do not replace personalised financial advice. Your circumstances may vary.