Credit Card Payoff Calculator UK: Find Your Debt-Free Date

Last updated: 2 October 2026

How the payoff calculator works

Enter three numbers: your current balance, the card’s representative APR and what you pay each month. The calculator applies interest monthly (APR divided by 12), subtracts your payment, and repeats until the balance hits zero.

It then shows:

• Months to clear and your approximate debt-free date
• Total interest you will pay along the way
• A comparison: what happens if you pay £50 more each month

The figures assume no new spending, no fees and the same payment every month. Real cards add charges and your minimum payment usually shrinks as the balance falls, so treat the result as a guide. If you are unsure about the APR, use the representative APR from your statement or summary box. Our APR explained guide shows what the number really means.

Why minimum payments keep you in debt

Minimum payments are designed to keep the account open, not to clear it. Try this in the calculator: a £1,000 balance at 39.9% APR (typical for a credit-builder card).

• Pay £100 a month and you clear it in about 13 months, paying roughly £236 in interest.
• Pay £25 a month and you never clear it, because the first month’s interest alone is about £33. The balance grows while you pay.

That gap is why lenders love minimums. If your credit history is thin, our guide to credit cards for bad credit explains how builder cards work and how to use one without falling into this trap.

Three ways to clear the balance faster

1. Pay a fixed amount, not the minimum. Pick the highest fixed payment you can sustain and set it as a standing order the day after payday. The calculator shows how much interest each extra £50 saves.

2. Move the debt to 0%. A 0% balance transfer card pauses interest for 12 to 36 months, so every penny of your payment cuts the balance. Watch the transfer fee (usually 3% to 3.5%) and have a plan to clear it before the 0% ends.

3. Stop new spending on the card. The calculator assumes you add nothing. Every new purchase restarts the interest clock, so move daily spending to a debit card while you pay the balance down.

Spending abroad on a credit card? Foreign transaction fees land on your balance before you start paying it down. A typical card adds 2.99% to everything you spend overseas, while the cards in our guide to the best credit card for travel charge nothing at all.

FAQs

Will paying off my card in full hurt my credit score?

No. Clearing the balance lowers your credit utilisation, which helps your score. What matters is the history of on-time payments, which you keep either way. See how to check your credit score for free.

Should I pay the minimum or a fixed amount each month?

A fixed amount, always. Minimums shrink as the balance falls, stretching the debt out for years and multiplying the interest. Use the calculator above to compare.

Is a 0% balance transfer better than just overpaying?

Often yes, because 100% of your payment then reduces the debt. But factor in the transfer fee and be realistic about clearing it before the 0% period ends, or the remaining balance jumps to the standard rate.

Does the calculator include fees and charges?

No. It covers balance, APR and payments only. Late fees, cash-advance fees and the balance-transfer fee itself are not included, so the real cost can be a little higher.

What APR should I enter if I have an introductory 0% deal?

Enter 0 for the months the 0% lasts, or simpler: divide the balance by the number of interest-free months to get the payment that clears it in time, then use the calculator with your standard APR to see the cost of missing that target.

UKMT tools are illustrative and not financial advice. If you are struggling with debt, free help is available from Citizens Advice, StepChange and the MoneyHelper service.