Credit Card Interest Calculator for United Kingdom
Calculate how long to pay off credit card debt and total interest charged.
Region: United Kingdom (GBP)
Loading tool…
Quick Tip
Enter the purchase rate from your statement and compare paying the minimum with a fixed higher amount.
About This Tool
Why use Credit Card Interest Calculator?
UK credit cards advertise a representative APR, and interest is charged on balances you do not clear in full by the payment date. Paying the full statement balance every month normally means you pay no interest on purchases.
0% balance transfer and purchase cards can cut costs, but they usually charge a transfer fee and revert to the standard rate when the offer ends. If you pay more in interest and charges than you repay over a long period, FCA persistent debt rules require your card provider to contact you and help you repay faster.
Key Benefits
Clear-by date
See how many months a fixed monthly payment takes to clear the balance.
Interest in pounds
Understand the true cost of carrying a balance at your card's APR.
0% offer planning
Work out the monthly payment needed to clear a balance before a promotional period ends.
How to use Credit Card Interest Calculator
- 1
Enter the purchase rate from your statement and compare paying the minimum with a fixed higher amount.
- 2
Enter your current card balance.
- 3
Add the card's APR from your statement.
- 4
Enter the fixed amount you plan to pay each month.
- 5
Review the payoff time, total paid and total interest, then try a higher payment.
Best use cases
Find the monthly payment that clears your card by a date you choose.
Compare the cost of paying the minimum with a fixed, higher payment.
Judge a balance transfer offer by running the same balance at both APRs.
Decide which card to pay off first when you carry balances on several.
Credit Card Interest Calculator FAQs
How is interest charged on a UK credit card?
If you do not clear the balance in full, interest is charged at your card's rate, usually calculated daily and added monthly. Cash withdrawals often attract a higher rate and interest from the day you take the cash.
Is a 0% balance transfer card worth it?
It can save a lot of interest if you can repay most of the balance within the 0% period. Factor in the transfer fee and set a monthly payment that clears the debt before the offer ends.
What are persistent debt rules?
They are FCA rules for customers who pay more in interest, fees and charges than they repay over an extended period. Providers must contact you and suggest ways to repay faster.
Which currency does this credit card interest use?
Amounts are shown in British Pounds (GBP). The formulas are the same everywhere, so you can switch to another country version if you need a different currency.
Related Finance Tools
More free finance tools that work well alongside the Credit Card Interest Calculator.