Credit card interest calculator

Work out how much interest you may pay on a credit card balance, based on your interest rate and monthly payments. You can calculate:

  • The potential cost of your borrowing
  • How long it could take to repay your balance
  • How much less interest you could pay by making higher monthly payments

Work out your interest

Try adjusting the figures to see how it affects the interest costs. This calculator provides an illustration only. Your actual borrowing costs can vary, depending on how you use and manage your credit card over time.

£
£

Results

Total interest: ##interest##

Total to repay: ##total_paid##

Time to repay: ##years## year(s) and ##months## months

This calculator is a guide only, calculated using approximate minimum payment rates that may vary by product or lender. We assume your interest rates always stay the same, and interest and payments are processed at the same time each month.

See our range of help guides

After using our credit card interest calculator, you might be wondering how you can cut your costs. If you’re paying interest and you don’t have the option to transfer your credit card balance, try to repay as much as you can afford each month.

Understanding and minimising costs

Minimum payments

To meet the conditions of your credit agreement, you need to make at least the minimum payment each month.

More on minimum payments

Payment options

We offer several payment options, including Direct Debit, bank transfer and debit card payments.

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Credit interest

When you borrow money on a credit card, you may be charged interest. 

More about credit interest

Fees and charges

In addition to interest, other account fees and charges could apply to your account.

More about fees and charges

Let’s look at the details

  • The Annual Percentage Rate (APR) helps you to estimate the cost of your credit card borrowing each year, inclusive of standard account fees. The higher the percentage, the greater the borrowing cost.

    More about APR

  • Interest is calculated daily and charged to your credit card statement when it’s produced each month.

    More about credit card interest

  • There are scenarios where you won’t be charged interest on your credit card balance:

    • You can take advantage of up to 56 days interest free on card purchases, as long as you pay off your full main balance (not including any introductory or promotional balance or money transfers) plus any instalment plan payments, or if your minimum payment is higher, you pay at least your minimum payment, and you did the same the previous statement period. 
    • If a 0% interest rate applies to your full balance. Just make sure you know when any promotional or introductory rates expire, as that’s when interest will start to apply.

    Otherwise, there are things you can do to minimise your borrowing costs:

    • Repay more than the minimum each month. Payments will be allocated to your highest interest balances first, helping to minimise the amount of interest you’ll pay overall.
    • Explore other borrowing options that could help you to consolidate your debts and manage your interest costs.
    • Consider transferring your balance to a credit card with a lower interest rate. Just be aware that transfer fees may apply.

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