Enter your debts below and see exactly when you'll finish your debt repayment — and how much interest you'll save with a credit card repayment plan.
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Enter each debt — your balance, annual interest rate, and minimum monthly payment. Then add any extra amount you can put toward repayment. The calculator shows your debt-free date, total interest paid, and how different repayment strategies compare. It supports UK and Australian repayment formats and currency.
Credit card interest compounds monthly on your outstanding balance. At 20% APR — common for UK credit cards — a £4,000 balance paid at minimums only can take 12+ years and cost more than £3,500 in interest. Adding even £30–£50/month to your repayment dramatically shortens the timeline and cuts total interest paid.
It depends on your balance, interest rate, and how much you pay each month. On a £3,000 balance at 22% APR, paying only the minimum can take over 10 years. Paying an extra £50–£100/month can cut that down to 2–3 years and save hundreds in interest.
The debt avalanche method — paying off the highest interest rate debt first — saves the most money. The debt snowball (smallest balance first) builds momentum faster. Both beat paying minimums only. Even an extra £20–£50/month makes a significant difference.
Typically a great deal. On a £5,000 credit card at 20% APR, adding £50/month to your minimum payment can save over £1,500 in interest and cut your repayment time by 4+ years. Use the calculator above to see your exact figures.
Avalanche is mathematically optimal — you pay less interest overall. Snowball gives faster psychological wins by eliminating small debts first. If motivation is your challenge, start with snowball. If you want pure efficiency, choose avalanche. This calculator shows both.
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