Credit Card Payoff Calculator
Find out how long it will take to clear a credit card balance with fixed monthly payments.
Your result
Updates as you type. Based on 2025/26 UK figures where relevant.
How this is worked out
Each month interest is added at the APR divided by 12 and your payment is taken off. We repeat until the balance reaches zero.
Tips
- Pay off high-interest debt before saving beyond a basic emergency fund.
- Use your £20,000 ISA allowance each year where you can – it doesn't roll over.
- Check whether your savings rate beats inflation; if not, your money is losing value.
Guides for this calculator
- How to Calculate Paying Off a Credit Card in the UK: Step-by-Step Guide
- Paying Off a Credit Card: Common Mistakes, Tips and FAQs
More savings and loans calculators
Frequently asked questions
How does the credit Card Payoff Calculator work?
Each month interest is added at the APR divided by 12 and your payment is taken off. We repeat until the balance reaches zero.
Are returns guaranteed?
No. Savings and investment projections are illustrations based on the rate you enter. Investments can go down as well as up.
What rate should I use for investments?
Many people test a cautious 4–5% and a more optimistic 6–7% to see a range of outcomes.
Is my savings interest taxed?
Basic-rate taxpayers have a £1,000 Personal Savings Allowance, higher-rate taxpayers £500. Interest inside an ISA is tax-free.
This calculator gives an estimate for general information. It isn't financial, tax, legal or medical advice. Check official figures on GOV.UK or NHS.uk, or speak to a qualified adviser.