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DebtEnter your balance, APR and chosen monthly payment. The calculator shows months to clear, total interest paid, and the difference compared with paying the FCA minimum. Minimum-only payments trap you in debt for decades.
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UK credit card minimums are typically 1% of balance plus that month's interest, or £5. On a £3,000 balance at 24.9% APR, that's about £65/month. Of that, roughly £62 is interest in month one, so only £3 reduces the balance. The payment barely moves.
Paying just the minimum on a £3,000 balance takes over 25 years and costs over £5,000 in interest. Paying £150/month clears it in just over 2 years at a cost of about £750 interest.
If you can clear the balance within the 0% window and you qualify for a card with a reasonable transfer fee (typically 2-3%), it is almost always worth it. See balance transfer calculator.
You stay in debt for decades and pay several times the original balance in interest.
Yes. Interest is calculated on the remaining balance, so every extra pound paid early earns compound savings for the life of the debt.
Paying off credit card debt consistently helps your score. Only missed payments and high utilisation damage it.
Illustrative calculation. Not personalised financial advice. Rates, bands and allowances for the 2026/27 UK tax year, verified against gov.uk at time of review. For regulated advice consult an FCA-authorised adviser.