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AfriTaxCalc

2 years and 1 month

Workings

Credit card repayment calculator

See how long it takes to clear a credit card on minimum payments or a fixed amount each month, what the interest comes to, and whether the rate is within the legal maximum.

Repo rate 7.25% from 25 September 2026Checked against the NCA regulations · 23 October 2026

Time to clear, paying a fixed amount

2 years and 1 month

Paying R1,000.00 a month clears R20,000.00 in 2 years and 1 month, with R4,908.42 of interest. Paying only the minimum would take 20 years and 4 months and cost R26,191.76 of interest.

Interest paid
R4,908.42
Total paid
R24,908.42
First payment
R1,000.00

Within the legal maximum for credit cards and overdrafts (21.25%: the repo rate of 7.25% plus 14%).

Your card

On your statement.

A fixed amount. 0 to see the minimum only.

Assumes you don’t spend more on the card. Nothing leaves your browser.

What people ask next

Workings

Balance todayR20,000.00
Interest in the first monthR20,000.00 × 21.25% ÷ 12R354.17
First paymentyour fixed paymentR1,000.00
Months to clear25
Interest paideach month's interest rounded to the centR4,908.42
Total paidR24,908.42

Uses the National Credit Regulations' maximum rate for credit facilities and the repo rate of 7.25% from 25 September 2026. Checked 23 October 2026; see the numbered sources. Estimates for guidance only, not tax or financial advice. We don't offer credit or arrange loans.

Why minimum payments take so long

The minimum payment is a small share of what you owe, so as the balance falls, the minimum falls with it. Most of each early payment goes on interest, and clearing the card on minimums alone can take decades. A fixed payment that doesn’t shrink clears it far sooner.

The legal maximum

A credit card is a credit facility under the National Credit Act. Its interest rate can’t be more than the repo rate plus 14% a year: 21.25% while the repo rate is 7.25%. Minimum payments aren’t set by law; each bank sets its own, so check your card’s terms.

We don’t offer credit or recommend cards. If you’re struggling with debt, the National Credit Regulator can point you to a registered debt counsellor.