Credit card payoff calculator
Find out when you will pay off your credit card balance. Shows total interest cost and compares minimum vs fixed payment strategies.
- Free, no sign-up
- No data stored
- Reviewed 2026-01-15
Your details
Results
- Total interest
- £1,176.22
- Total repaid
- £4,676.22
- Interest share
- 25.2 %
- With extra 50
- 1 yr 10 mo
Saves £375.99 in interest
Schedule
| Month | Payment | Interest | Capital | Balance |
|---|---|---|---|---|
| 1 | £150.00 | £66.79 | £83.21 | £3,416.79 |
| 2 | £150.00 | £65.20 | £84.80 | £3,332.00 |
| 3 | £150.00 | £63.59 | £86.41 | £3,245.58 |
| 4 | £150.00 | £61.94 | £88.06 | £3,157.52 |
| 5 | £150.00 | £60.26 | £89.74 | £3,067.77 |
| 6 | £150.00 | £58.54 | £91.46 | £2,976.32 |
| 7 | £150.00 | £56.80 | £93.20 | £2,883.11 |
| 8 | £150.00 | £55.02 | £94.98 | £2,788.13 |
| 9 | £150.00 | £53.21 | £96.79 | £2,691.34 |
| 10 | £150.00 | £51.36 | £98.64 | £2,592.70 |
| 11 | £150.00 | £49.48 | £100.52 | £2,492.18 |
| 12 | £150.00 | £47.56 | £102.44 | £2,389.74 |
| 13 | £150.00 | £45.60 | £104.40 | £2,285.34 |
| 14 | £150.00 | £43.61 | £106.39 | £2,178.95 |
| 15 | £150.00 | £41.58 | £108.42 | £2,070.54 |
| 16 | £150.00 | £39.51 | £110.49 | £1,960.05 |
| 17 | £150.00 | £37.40 | £112.60 | £1,847.45 |
| 18 | £150.00 | £35.26 | £114.74 | £1,732.71 |
| 19 | £150.00 | £33.07 | £116.93 | £1,615.77 |
| 20 | £150.00 | £30.83 | £119.17 | £1,496.61 |
| 21 | £150.00 | £28.56 | £121.44 | £1,375.17 |
| 22 | £150.00 | £26.24 | £123.76 | £1,251.41 |
| 23 | £150.00 | £23.88 | £126.12 | £1,125.29 |
| 24 | £150.00 | £21.47 | £128.53 | £996.77 |
| 25 | £150.00 | £19.02 | £130.98 | £865.79 |
| 26 | £150.00 | £16.52 | £133.48 | £732.31 |
| 27 | £150.00 | £13.97 | £136.03 | £596.29 |
| 28 | £150.00 | £11.38 | £138.62 | £457.66 |
| 29 | £150.00 | £8.73 | £141.27 | £316.40 |
| 30 | £150.00 | £6.04 | £143.96 | £172.44 |
| 31 | £150.00 | £3.29 | £146.71 | £25.73 |
| 32 | £26.22 | £0.49 | £25.73 | £0.00 |
Schedule note
Credit card note
About the Credit Card Payoff Calculator
Enter your current balance and annual interest rate to see how long it takes to become debt-free. Compare the cost of paying only the minimum versus a fixed monthly payment.
The minimum payment strategy uses a percentage of balance (typically 2–3%) with a floor amount. A fixed payment strategy lets you see exactly when the debt disappears and how much interest you save.
How to use the Credit Card Payoff Calculator
- Enter your current card balance.
- Set the annual interest rate (APR).
- Choose a payment strategy: minimum or fixed.
- For fixed, enter your monthly payment amount.
- View the payoff date, total interest and comparison chart.
Frequently asked questions
Why does minimum payment take so long?
Minimum payments shrink as the balance reduces, so most of each payment goes to interest in later months. A fixed payment is far more efficient.
What if my payment is less than the interest?
The calculator warns you if the payment does not cover monthly interest, meaning the balance would grow indefinitely.
Does this include purchase protection or rewards?
No. This focuses purely on the debt repayment maths. Rewards and protection are separate card features.
Sources
Figures are estimates for guidance only. Always confirm with the official source or a qualified professional before acting on them.