Credit Card Minimum Payment Calculator UK

This free UK calculator shows how long it takes to clear a credit card making only the minimum payment — and how much interest that costs. Minimum-only payments can take decades, because the minimum shrinks as your balance falls. Enter your balance and rate to see your numbers, then see how much faster a fixed payment clears the debt.

Your credit card

Current balance

The amount you owe on the card

APR (interest rate)

The purchase APR on your statement

Minimum: % of balance

Percentage of the balance, plus that month's interest

Minimum: fixed floor

The lowest the minimum can go (usually £5)

Compare: fixed payment per month

Optional — a steady amount to pay instead

Enter your balance and rate above — the results update instantly. This calculator shows how many years paying only the minimum takes, the total interest it costs, and how much faster a fixed monthly payment clears the same balance.

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Minimum-only cost

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Time to clear (minimum only)

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First minimum payment

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Total interest (minimum only)

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Total repaid (minimum only)

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Minimum only vs a fixed payment

Balance over time

Paying only the minimum Paying your fixed amount

Build a full payoff plan with the Snowball calculator

Key takeaways

The minimum payment shrinks as your balance falls, so most of it goes on interest and the debt lingers for years.
A £3,000 balance at 24.9% APR paid at the minimum takes roughly 28 years and costs about £6,000 in interest — more than doubling what you owe.
Paying a fixed amount each month — even a little more than the minimum — clears the same balance in a few years instead of decades.
A 0% balance transfer or the debt snowball method can clear it faster still.

How credit card minimum payments work in the UK

A UK credit card minimum is deliberately small — usually just enough to cover the interest plus a sliver of what you actually owe.

Under Financial Conduct Authority rules, your minimum payment must at least cover that month's interest, fees and charges, plus 1% of the outstanding balance — or a small fixed floor, commonly £5, if that works out higher. Most issuers set it as exactly that: the greater of £5 or 1% of your balance plus the interest. It sounds reasonable, but it hides a trap. Because the minimum is a percentage of the balance, it falls every month as your balance drops. Pay only the minimum and the amount you hand over keeps shrinking, so the balance barely moves and the interest keeps stacking up. This calculator models that exact behaviour month by month, which is why the timescales it shows can be startling.

How much do minimum payments really cost? (worked example — £3,000 at 24.9% APR)

Paying only the minimum on a typical UK card can keep you in debt for the best part of three decades.

Take a £3,000 balance at a fairly standard 24.9% APR, with the minimum set at 1% of the balance plus interest (never less than £5). Your first minimum payment is about £92 — but it drops the very next month, and every month after. Following that shrinking minimum all the way down, it takes roughly 28 years to clear the card and costs close to £6,000 in interest — so you repay around £9,000 in total, more than double what you borrowed. For years, the vast majority of each payment is swallowed by interest and only a few pounds come off the balance. That's not a quirk of this example; it's how minimum-only repayment behaves on almost any card. Change the figures above to your own balance and rate to see your version of the same picture.

How to escape the minimum payment trap

The fix is simple: stop letting the payment shrink. Pay a steady, fixed amount instead.

The single most powerful change is to fix your monthly payment at today's minimum — or a little above — and keep paying that same amount even as the statement minimum falls. On the £3,000 example, paying a flat £100 a month clears the card in around four years instead of twenty-eight, and cuts the interest from roughly £6,000 to under £1,800. From there you have two proven ways to go faster. A 0% balance transfer pauses the interest entirely for a promotional window, so every pound you pay reduces the balance rather than feeding the lender. And if you're juggling more than one debt, the debt snowball method — clearing your smallest balance first for a quick, motivating win, then rolling that payment onto the next — keeps you moving. Our snowball calculator turns your debts into a month-by-month plan with a real debt-free date. Whatever you choose, the principle is the same: a fixed payment beats a shrinking one every time.

If the minimum payments are already a stretch and the balance won't move, that's a sign to get help rather than borrow more. Free, impartial debt advice is available from StepChange, MoneyHelper and Citizens Advice — there's no shame in asking, and it's always free.

Frequently asked questions

How long will it take to pay off my credit card making only minimum payments?

Often far longer than people expect — a £3,000 balance at 24.9% APR paying only the minimum can take around 25–30 years and more than double in total cost. The exact figure depends on your rate and how the minimum is calculated; use the calculator to see yours.

How is a UK credit card minimum payment calculated?

Most UK cards set the minimum as the higher of a fixed amount (usually £5–£25) or a percentage of the balance — typically 1% of the balance plus that month's interest and fees. As your balance falls, the minimum falls too, which is why the debt lingers for years.

Is it bad to only pay the minimum on a credit card?

It's not harmful to your credit score if you pay on time, but it's very expensive. Paying only the minimum maximises the interest you pay and keeps you in debt for decades. Paying a fixed amount each month — even a little more — clears it far faster.

How can I pay off my credit card faster?

Pay a fixed monthly amount instead of the shrinking minimum, and put any spare money toward your smallest balance first (the debt snowball method). A 0% balance transfer can also pause interest so every pound reduces the balance.

What is the minimum payment trap?

The minimum payment trap is when your minimum payment shrinks as your balance drops, so most of what you pay goes on interest and the balance barely moves. Because the minimum keeps falling, the debt can take 20–30 years to clear. Paying a fixed amount breaks the cycle.

DebtSnowball.co.uk is not regulated by the Financial Conduct Authority (FCA) and does not provide regulated debt or credit advice. This calculator is general information only, not tailored to your circumstances, and is not a recommendation of any particular card or product. Card rates and minimum-payment rules vary and change — always check your own statement. If you're struggling with debt, free, impartial and regulated advice is available from StepChange, Citizens Advice, National Debtline and MoneyHelper.

Disclaimer: This calculator is for informational purposes only and does not constitute financial advice. Results are estimates based on the figures you enter and assume a constant APR, a fixed minimum-payment rule, no new spending and no missed payments. Your card's real minimum and interest may differ. If you are struggling with debt, contact a free UK debt advice service such as StepChange (stepchange.org). For personal advice, consult an FCA-regulated adviser.

How this calculator works

The method

It simulates your card month by month. Each month it charges interest (the APR divided by twelve on the balance), then works out that month's minimum as the greater of your fixed floor and your balance percentage plus the interest. It subtracts the part of the minimum that beats the interest from your balance, and repeats. Because the minimum shrinks as the balance falls, this takes far longer than most people expect. It then runs the same balance against the fixed monthly payment you enter, so you can see how many years and how much interest a steady payment saves.

Assumptions & limitations

The minimum is modelled as the greater of a fixed floor (default £5) or a percentage of the balance (default 1%) plus that month's interest — the pattern most UK card issuers use under FCA rules.
It assumes a constant APR, no new spending on the card and no missed payments or default fees; a real statement can differ.
The APR and minimum-payment rule come from your own card agreement — always check your statement for the exact figures.

Data sources

Every calculation runs in your browser on the balances and rates you enter, so the results reflect your own figures. Where we cite external data we use MoneyHelper — credit card minimum payments. Figures and rules change over time — always check the original source.

Built and reviewed by a UK Chartered Mechanical Engineer. More on our methodology.

Methodology & trust

Written and reviewed by a UK Chartered Mechanical Engineer — who builds and maintains these tools, pairing engineering-mathematics training with a focus on the mechanics of debt repayment. The calculators use standard amortization formulas and fixed repayment orders. Read our methodology or more about the author.

DebtSnowball is not a financial adviser and is not authorised or regulated by the FCA (Financial Conduct Authority). These tools are for education and information only, not financial advice. If you are struggling with debt, get free, impartial help from StepChange, National Debtline or Citizens Advice.

Last reviewed: August 2026 Spotted an error? Report it and we will fix it.

Credit Card Minimum Payment Calculator