What Is a Credit Card Overpayment Calculator?

A credit card overpayment calculator helps you understand how long it will take to pay off your card balance and how much interest you’ll pay based on your repayment habits. It also shows how paying more than the minimum can save you money and clear your debt faster.

Why Use This Calculator?

If you're making just the minimum payment, your balance could take decades to clear. Use this tool to visualise how extra monthly payments — even small ones — make a big difference to your financial future.

Example Scenario

If you owe £1,500 on a card with an 18.9% APR and pay just the minimum each month (5% or £25), it could take years to pay off and cost hundreds in interest. But by paying a fixed £100 monthly instead, you could clear it in around 18 months and save a lot in interest charges.

Common Questions

How is credit card interest calculated? It’s typically charged daily and compounded monthly. This calculator simplifies the math using monthly interest for estimation.

Should I overpay my credit card? Yes — overpaying reduces the balance faster, which reduces interest charges and shortens repayment time.

Does this calculator include fees? No, this tool focuses on interest. Always check your card terms for any additional fees or changes in rates.