Minimum payment27 years 11 monthsStarts at £86.66 and falls with the balance
- Interest
- £5,297.70
- Total paid
- £8,297.70
Credit card repayment calculator
How long your credit card will take to clear and what it will cost, however you pay. We’ve filled in an example: change it to yours.
FCA minimum payment rules (CONC 6.7)Last checked 6 October 2026
Time to clear
27 years 11 months
Paying only the minimum, it takes 27 years 11 months to clear, with £5,297.70 of interest: £8,297.70 in total.
First payment £86.66, falling as the balance falls. The last is £4.12.
- Interest
- £5,297.70
- Total paid
- £8,297.70
- First payment
- £86.66
Persistent debt
On this plan, more of your payments would go on interest than on reducing what you owe. After 18 months your card provider must contact you about ‘persistent debt’. If it continues to 36 months, they must offer you a way to clear the balance, usually within 3–4 years, and can suspend your card if you don’t respond. Free, confidential help: MoneyHelper (moneyhelper.org.uk).
On this plan, that first happens at month 18, and again at month 36.
What people ask next
Workings
| Balance at the start | £3,000.00 |
|---|---|
| Interest£3,000.00 × 1.8701%, the monthly rate for 24.9% APR | £56.10 |
| Statement balance | £3,056.10 |
| Your paymentThe minimum payment, worked out below | (£86.66) |
| Balance after month 1 | £2,969.44 |
| Interest | £56.10 |
|---|---|
| 1% of the statement balance[1]1% of £3,056.10, rounded to the penny | £30.56 |
| Interest + 1% | £86.66 |
| Minimum payment[1]More than the £5.00 floor | £86.66 |
| Balance at the start | £3,000.00 |
|---|---|
| Interest1.8701% a month on what’s left, rounded to the penny each month | £5,297.70 |
| Total paidFirst payment £86.66, last payment £4.12 in month 335 | £8,297.70 |
The minimum payment trap
Keeping your payment at today’s minimum of £86.66, instead of letting it fall, clears the card 23 years 2 months sooner and saves £3,422.01 in interest.
Your plan27 years 11 monthsThe minimum payment, as above
- Interest
- £5,297.70
- Total paid
- £8,297.70
Least interest
Fixed at today’s minimum4 years 9 months£86.66 every month
- Interest
- £1,875.69
- Total paid
- £4,875.69
What you’d owe, year by year
Still owed after 1 year: £2,653.12 · 5 years: £1,622.95 · 10 years: £878.01
Not covered: new spending, several balances at different rates, cash advances and fees, losing a 0% deal after a missed payment, the gap between your statement and the due date, and rate changes.
How minimum payments work
Most UK cards set the minimum as that month’s interest plus 1% of the balance, with a floor of about £5. The FCA’s rules say the minimum must cover at least the interest, any fees and 1% of the balance, so every payment takes something off what you owe. Some cards ask for more, such as interest plus 2.5%. How credit card minimum payments work.
Because the minimum shrinks as the balance shrinks, paying only the minimum is slow. £3,000 at 24.9% APR starts with a minimum of £86.66 and takes 27 years 11 months to clear, with £5,297.70 of interest. Keep paying £86.66 every month instead and it’s cleared in 4 years 9 months, with £1,875.69 of interest.
We turn the APR into a monthly rate as (1 + APR)1/12 − 1, which is how the APR is defined. 24.9% APR is 1.8701% a month, not 24.9 ÷ 12 = 2.075%. That matches card providers’ own figures, as they charge interest daily.
0% deals and balance transfers
A balance transfer fee is added to what you owe when you move the balance: 3% of £5,000 is £150, so you start at £5,150. No interest is charged during the 0% months, and whatever is left when they end is charged at the card’s standard rate. Paying £200 a month leaves £1,550 after 18 months, which takes until month 27 to clear, with £140.58 of interest. £286.12 a month clears it within the 18 months, with no interest at all. Balance transfers explained.
Missing a payment can end a 0% deal early. MoneyHelper explains what to check before you transfer a balance.
Persistent debt: what your card provider must do
If, over 18 months, you pay more in interest, fees and charges than you pay off the balance, the FCA calls it ‘persistent debt’. Your provider must contact you, explain that paying more would clear the card sooner and cost less, and tell you where to get free debt advice. If it’s still the case at 36 months, they must offer you a way to clear the balance within a reasonable time, usually 3–4 years, and can suspend your card if you don’t respond. Persistent credit card debt.
For free, confidential help with credit card debt, contact MoneyHelper.