How long to pay off £5,000 in credit card debt?
Starting from £5,000 on a single card at a typical interest rate, paying a fixed amount above the minimum every month.
Time to debt-free
2 years, 10 months
- Total interest paid
- £1,750
- Total paid (principal + interest)
- £6,750
- Minimum payment
- £100
- Extra payment added
- £100
Assumptions used
- £5,000 balance at 22% APR
- £100 minimum + £100 extra
Card APRs vary widely by issuer and credit profile — check your actual statement rate. Carrying multiple cards changes the math and the optimal payoff order (avalanche vs. snowball); this scenario assumes just one balance.
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