How to use this credit & debt hub
Credit tools model the mechanics of credit-card debt — which, because of how interest compounds on unpaid balances, is usually the most expensive borrowing UK consumers hold. Even a "low APR" card can cost 20%+ in effective annual interest if you carry a balance.
The Credit Card Payoff calculator shows something lenders never emphasise: how long paying just the minimum will take, and the total interest you'll pay if you do. For a £3,000 balance at 24% APR paying only the minimum, you can expect to take 20+ years to clear and pay more than the original balance in interest alone.
Debt Consolidation works in the opposite direction — collapsing multiple balances into one lower-rate personal loan. It only works if you actually stop using the original cards. Otherwise you end up paying down the loan while racking the cards back up, and your total debt grows.
Most popular calculators
Start with the tools people usually need first, then move into the grouped sections below for more specific scenarios.
Credit card debt
See exactly how long a card will take to clear at different monthly payment levels.