Credit Card Payoff Calculator
How long to clear a credit card balance paying the minimum vs a fixed higher payment.
Data stays on your deviceFY 2026-27 updatedFree · No sign-up
Details
A$3,000
A$
20%
%
2%
%
Result
Time to Clear
28.9 yrs
Total Paid
A$12,409
Total Interest
A$9,409
Interest as % of Balance
314%
Australian credit card interest
Standard cards charge 19-22% p.a.; low-rate cards 8-14%. If you only pay the minimum, a $3,000 balance at 21% takes 20+ years to clear and costs ~$5,500 in interest — almost double the original debt.
Your options
- Balance transfer card: 0% for 6-24 months. Watch for the revert rate and transfer fee.
- Personal loan consolidation: 8-14% fixed over 3-5 years.
- Snowball vs avalanche: smallest balance first (motivation) vs highest rate first (math-optimal).
Frequently Asked Questions
Everything you need to know, in one place.
What is the average Australian credit card rate?
Around 19-22% p.a. for standard cards, 8-14% for low-rate cards. Balance transfer 0% offers (6-24 months) can save significant interest if paid off during the promo period.
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