Credit card interest calculator

How much could it cost in interest when you borrow using a credit card? Figure it out using our handy credit card interest calculator.

How this interest calculator could help

Provide just a few details and our credit card interest calculator can show you:

  • an estimate of your borrowing costs
  • the benefits of making higher payments
  • how long it might take to repay your balance.

Let’s do some basic sums

Just so you know, our calculator gives a basic illustration only. The true cost of borrowing might vary, based on the way you use and manage your credit card.



Total interest: ##interest##

Total to repay: ##total_paid##

Time to repay: ##years## year(s) and ##months## months


Have a play. Even small changes could make a difference to your overall interest costs.

This calculator is a guide only, calculated using approximate minimum payment rates that may vary by product or lender. We assume your interest rates always stay the same, and interest and payments are processed at the same time each month.


Repay more and save

Now you’ve had a play around with our interest calculator, you’ll notice that higher repayments can reduce your overall borrowing costs.

It could be worthwhile looking at your household budget to see if you could put more money towards reducing your credit card balance each month.

Managing your money

Managing your borrowing costs

Interest explained

In return for flexible credit card borrowing, you might be charged interest. This is normally a percentage of the total borrowing amount.

More on interest

Other account costs

Additional fees and charges might also apply to some transaction types, if you go over your agreed credit limit, or you miss a payment.

More on fees and charges

Do more than the minimum

Your monthly statement includes a minimum payment amount. That’s the least you need to pay to meet your account terms and conditions – not a recommended payment amount.

Pay as much as you can afford, as often as you can. That will help you to minimise your borrowing costs.

Minimum payments

Ways to pay

You might like to use a few payment options. For example, you could set up automated payments by Direct Debit, and use a debit card to pay extra when you can.

Whatever you choose, just make sure your monthly payments will reach your account on time.

See all ways to pay

Know where you stand

If you want to apply for new credit, it’s worth checking your credit score first. A good score can help you access the best interest rates.

Are you a Halifax customer? If so, sign up to see ‘Your Credit Score’ with TransUnion. It’s free to check and won’t harm your score.

Your Credit Score

Frequently asked questions

  • APR stands for Annual Percentage Rate. It gives you a rough idea about how much your borrowing could cost each year, shown as a percentage.

    It’s also a quick and easy way to compare credit products you’re considering.

    More on APR

  • Aside from limiting what you use your credit card for:

    • You’ll get up to 56 days interest free on purchases if you pay off your balance in full every month.
    • Interest won’t apply if a 0% interest rate applies to your full balance. When that ends, interest will apply, so make sure you’re aware of any expiry dates.

    If you’re already paying interest on some or all of your credit card balance:

    • Aim to repay as much as you can each month, over and above the minimum. To minimise your costs, payments are allocated to your highest interest balances first.
    • Think about other borrowing options you could use to consolidate your balances.
    • You might consider a balance transfer to a credit card with a lower interest rate. Just remember to account for any transfer fees.
  • Interest is charged to your credit card statement when it’s produced each month.

    More on interest

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Download the statement of responsibilities (PDF 60KB)