Credit Card Payoff Calculator
Calculate exactly how long it will take to pay off your credit card and how much interest you will pay. Compare your payment to the minimum payment scenario.
Quick Calculator Get a fast estimate
R
%
R
How much you pay each month. Minimum is typically 3% of balance or R75.
Time to Pay Off
2 yr 10 mo
Total Interest Paid
R 8 749
Total Amount Paid
R 33 749
Monthly Payment
R 1 000
Current Balance
R 25 000
Interest Rate
22.00%
Minimum Payment Scenario
R 750
Minimum Payment — Payoff Time
4 yr 4 mo
Minimum Payment — Total Interest
R 13 990
You Save By Paying More
R 5 241
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The True Cost of Minimum Payments (R25,000 at 22%)
| Monthly Payment | Payoff Time | Total Interest | Total Paid |
|---|---|---|---|
| Minimum only (3%) | ~16+ years | ~R31,000 | ~R56,000 |
| R750 fixed | ~5 years | ~R19,600 | ~R44,600 |
| R1,000 fixed | ~3.5 years | ~R13,400 | ~R38,400 |
| R1,500 fixed | ~2 years | ~R8,600 | ~R33,600 |
The Extended Calculator below lets you model a balance transfer scenario and the Professional Calculator helps manage multiple cards simultaneously.
Need more detail?
Extended Calculator More options, charts, and scenario comparison
R
%
R
Minimum payment (R 1 350/mo) vs Fixed (R 3 000/mo)
Save R 17 073
Min pay-off time
4.3 yrs
Fixed pay-off time
1.5 yrs
Min total interest
R 25 182
Fixed total interest
R 8 109
Time to Pay Off
How to Pay Off Credit Card Debt
- Stop using the card — cut it up or freeze it while paying it down.
- Pay at least double the minimum — this alone cuts years off the repayment.
- Consider a personal loan at a lower rate — if you can get 13% instead of 22%, the savings are significant.
- Apply any windfalls — bonuses, tax refunds, or gifts to your balance.
- Set up a debit order — automate a fixed payment above the minimum.
NCA rate cap: The National Credit Act caps credit card rates at prime + 14% (~25.75% at current prime). If your rate exceeds this, contact the NCR at 0860 627 627.
Need full precision?
Professional Calculator Complete parameters, sensitivity analysis, and detailed breakdown
Your Credit Cards
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Total Balance: R 51 000
Paid off in 1.8 years
Total interest
R 9 850
Interest saved (vs min pay)
R 42 982
Avalanche vs Snowball Comparison
| Strategy | Months | Total Interest | Payoff Order |
|---|---|---|---|
| Avalanche (highest rate) | 22 | R 9 850 | Store card → Visa (FNB) → Mastercard (Absa) |
| Snowball (lowest balance) | 22 | R 10 160 | Store card → Mastercard (Absa) → Visa (FNB) |
| Difference | 0 mo | R 310 | Avalanche wins |
Avalanche saves more interest. Snowball builds motivation by clearing debts faster. At SA rates of 20-28%, avalanche is usually optimal.
Card-by-Card Summary
| Card | Balance | Rate | Min Payment |
|---|---|---|---|
| Visa (FNB) | R 25 000 | 22.0% | R 750 |
| Mastercard (Absa) | R 18 000 | 20.0% | R 540 |
| Store card | R 8 000 | 28.0% | R 400 |
Frequently Asked Questions
South African credit card minimum payments are typically 3% of the outstanding balance or a set minimum of R75, whichever is higher. Paying only the minimum is very expensive — on a R25,000 balance at 22%, you can pay over R50,000 in interest and take more than 15 years to pay off the full amount.
The National Credit Act caps credit card interest at prime + 14% (about 22.5-25% in 2025 depending on the current prime rate). Most major bank credit cards charge 15-22% p.a. Store cards typically charge near the NCA maximum.
Stop using the card while paying it down. Pay more than the minimum — even R200 extra per month makes a big difference. Consider a balance transfer to a 0% card (if available) or consolidation loan at a lower rate. Avoid new debt while paying off existing balances.
With credit card rates of 20%+ and savings rates of 8-10%, paying off credit card debt always wins mathematically. Settling credit card debt is like getting a guaranteed 20% return on your money. Keep only a small emergency fund (1-2 months expenses) and use the rest to pay off high-interest debt.