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Minimum repayment credit card calculator

Use our calculator and find out how long it will take to clear your balance when only making the minimum repayments.


Just enter your outstanding balance and the minimum payment amount or percentage. The calculator will show you how long you will be making payments before the balance is cleared.

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Minimum Repayment Credit Card Calculator

Credit card debt

Minimum repayment

Can you clear the balance more quickly?

Results
If you only pay the minimum
If you pay a fixed amount

Compare the best 0% balance transfer cards

Compare all the best 0% balance transfer credit cards available in the UK right now. Compare key features of each credit card including:

  • Number of interest-free months
  • Balance transfer fee
  • Total interest costs for your outstanding balance
  • Time to payback your outstanding balance

How much is the minimum monthly repayment on a credit card?

Credit card firms must ensure the minimum monthly payment is equal to at least the amount that repays the interest, fees and charges that have been applied to the customer’s account plus one percentage of the amount outstanding.

How much do I need to pay every month on my credit card?

When you take out a credit card you will need to make a payment every month to repay any interest, fees and clear part or all of the outstanding balance. Credit card companies usually have a minimum repayment set as a pounds and pence figure and/or a percentage of the balance. For example, this could be at least £25 or 1% of the outstanding balance. You will need to pay as a minimum the higher value of the two. A £1,000 balance would have a minimum repayment of £1 based on 1%, but as this is below £25, then your minimum payment will be £25. (Assuming no interest or other fees to pay).

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