Balance and minimum payment
£
%
%
£
Enter the balance, purchase APR, the 1% balance component and the floor. The minimum here already adds that month's interest, so the balance always falls.
▭Time to pay off
15 yrs 5 mo
Number of months185
Total interest5,092 £
Total paid8,092 £
UK cards set the minimum at the greater of (1% of the balance + interest + fees) and a floor (£5–£25). Paying only the minimum can take decades. FCA persistent-debt rules kick in if you pay more in interest+fees than principal over 18 months.
Time to pay off = 15 yrs 5 mo