PayOff Calculator

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Credit card re-payment calculator

Work out how long it will take to clear your credit card balance.

How can I clear my credit card faster?

Enter your outstanding credit card balance
Enter the current interest rate associated to your outstanding balance. This could be for example Annual Purchase rate or Balance Transfer rate.
Calculate

Your minimum payment varies every month and other card providers may calculate minimum payment differently.

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Minimum Payment

Minimum monthly repayment is calculated based on the interest charged, default charges, 1/12 of your annual fee (if any) and 1% of your remaining balance (excluding any remaining part of the annual fee) OR  £5, whichever is the greater. We do not recommend that you only ever make your minimum payment.

How can I clear my credit card faster?

You can pay off your credit card balance more quickly by simply fixing the amount you pay each month. Use the sliders below to calculate new monthly payment or a date you want to clear the balance by.

Clear your balance by
Years
Months
By
line
Fixing your monthly payment to
per month
Well done...
You have reduced your time by and

Enter an earlier date you want to clear the balance by

The minimum early payoff duration should be 1 month

Enter an earlier date you want to clear the balance by

The early payoff monthly amount exceeds the outstanding balance amount

You need to enter monthly amount greater than your current minimum payment

Specify an amount to calculate early payoff duration

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