How long to pay off £5,000 of credit card debt?
Paying £150 a month on a £5,000 credit card at 22% APR clears it in about 52 months. Increasing payments to £250 a month roughly halves both the time and the interest.
How this is calculated
- ·£5,000 starting balance
- ·22% representative APR
- ·Fixed monthly payment
- ·No further spending on the card
£5,000 at 22% APR — months to clear
| Monthly payment | Months to clear |
|---|---|
| £100 | 137 |
| £150 | 52 |
| £250 | 26 |
| £400 | 15 |
Frequently Asked Questions
Would a 0% balance transfer help?
Hugely. Moving the £5,000 to a 0% balance-transfer card (minus a small fee) means every pound goes to the balance, not interest — clearing it far faster.
What if I only pay the minimum?
Minimum-only payments can stretch a £5,000 debt over decades and cost more in interest than the original balance. Always pay more than the minimum if you can.
Which debt should I clear first?
Mathematically, the highest-APR debt first (avalanche). For motivation, smallest balance first (snowball).
M Singh CeMAP DipFA · 25+ Years UK Financial Services
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M Singh CeMAP DipFA · 25+ Years UK Financial Services
Important Information
This calculator is for informational purposes only and does not constitute financial advice or a personal recommendation.
Results are estimates based on the information you provide and may not reflect your actual financial position.
You should consider seeking independent professional advice tailored to your specific circumstances before making any financial decision.