Credit card repayment calculator

The calculator should only be used as a guide and the results are approximate, based on the information you enter and your current balance. 

You need to make at least your minimum payment each month – but by fixing your payment, you’ll repay your balance sooner and pay less interest. This could also help you avoid entering persistent debt. For more information, please visit our persistent debt page.

This means the fixed monthly payment amount you enter will need to be at least the amount of your minimum payment this month (if you owe less than £5, you’ll need to pay the full amount). You can see your minimum payment on your monthly statement. If you enter an amount which is less than the minimum, the calculator summary won’t show any results.

Try adjusting the fixed monthly payment amount to see how a small increase can make a difference to the time it takes to repay what you owe and the interest you pay. See our repayment table for examples. If you continue to spend on your card, you may need to increase your fixed monthly payment in the future.

You can find details of your outstanding balance and interest rates on your monthly statement. We suggest you enter the purchase rate (if you have a Premier World Elite Mastercard, make sure you use this rather than the APR).

The calculator results assume that:

• You make a fixed monthly payment in the amount entered
• You pay on time each month
• You don’t keep spending on your card
• Interest is charged at a single fixed rate
• You don’t have any other charges added to your account

If you want to set up or amend a Direct Debit to make a fixed monthly payment, you can do this by submitting a simple e-form. You’ll need to make sure your fixed amount is more than your current minimum payment; if not, we’ll collect the minimum payment.

Find out more about credit card repayment options.

Find out more about fees and the interest rate on your HSBC credit card.

If you’re struggling to make your credit card payments or there’s been an unexpected change in your circumstances, we’re here to support you. We can help find a solution tailored to your financial needs.

You may also want to consider support from external organisations for free professional advice. You can find out about free independent money advisers in your area from:

• Citizens Advice
• AdviceUK
• National Debtline
• StepChange Debt Charity