Minimum Payment Calculator
Find out how many years it takes to clear your credit card paying only the minimum — and just how much interest that costs you.
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Lowest the minimum can drop to (typically £25)
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If you paid £— instead, you'd clear the debt in — years and pay only £— interest — saving £—.
Results are estimates. Minimum payment rules vary by lender — check your card's terms.
Minimum payment scenarios — UK credit cards
Click any row to load the values into the calculator above.
| Balance | APR | Minimum % | Years to clear | Total interest |
|---|
Why minimum payments are so costly
Credit card minimum payments are typically set at a percentage of the outstanding balance — often 2% — or a small fixed amount, whichever is higher. As the balance shrinks, so does the minimum. This means the debt reduces agonisingly slowly.
At 24.9% APR, roughly 2% of a £3,000 balance (£60) is consumed by interest each month. If the minimum is also near 2%, almost nothing reduces the capital.
The single most powerful thing you can do is fix your payment at the initial minimum amount and never let it fall — this alone can cut years off your repayment.
Frequently asked questions
Most UK credit card lenders calculate the minimum as either a percentage of the outstanding balance (typically 1–3%) plus any interest and fees, or a fixed floor (often £25), whichever is greater. Some lenders use a flat percentage of the total balance including interest.
Your minimum payment falls as your balance reduces (because it's a percentage), but lenders can increase the minimum if your APR rises, if you miss payments, or if your account is reviewed. Always check statements carefully.
You'll stay in debt for a very long time and pay far more in total than the original balance. On a typical UK credit card at 24.9% APR, paying only 2% minimums on £3,000 can take over 25 years and cost more than £3,000 in interest alone.
Warning: Paying only the minimum on a credit card can take decades to repay and cost thousands in interest.