Credit Card Payoff Calculator Ireland
See exactly how long it takes to clear your Irish credit card debt — AIB, Bank of Ireland, Revolut and more. Includes the €30 Government Stamp Duty automatically. Get AI debt advice powered by Gemini.
⚠ Ireland charges a €30 Government Stamp Duty on every credit card every April. We include this automatically — no other Irish calculator does this.
Understanding your numbers
This is the amount you pay AIB, Bank of Ireland, or Revolut just for the privilege of carrying a balance. With Irish cards at 17–23% APR, you can easily pay more in interest than the original purchase cost — especially if you only pay the minimum.
Unique to Ireland: every credit card holder pays €30 to the government every year, charged automatically in April. If you spend 5 years paying off a card, that's €150 extra on top of all your interest. We add this automatically — no other Irish payoff calculator does this.
Irish banks set minimum payments at just 2.5% of your balance (minimum €5). This is deliberately low — it maximises the interest you pay over time. Paying even €30 more per month than the minimum can cut years off your debt and save hundreds in interest.
This is your finish line. Our calculation assumes you make no new purchases on the card. If you keep spending, the date will keep moving. Consider freezing your card (literally — in a block of ice) while you pay it down.
Three ways to escape faster
Knowledge is only half the battle. Action is the other half.
The Plus Payment Rule
"Small extra payments have a disproportionate impact because they reduce the principal balance, preventing future interest from compounding on that amount."
The 0% Balance Transfer
"An Post Money Flex (16.8% APR) and Revolut (17.99% APR) are among Ireland's lowest rates. Transferring from a 22.9% card and paying the same amount can cut your debt-free date significantly."
The Debt Avalanche
"Mathematically optimal. Attack your highest-APR card first (usually 22.9% AIB/An Post) while paying minimums on others. Saves the most total interest across multiple cards."
How Does Credit Card Interest Work in Ireland?
Irish credit cards charge interest — expressed as APR (Annual Percentage Rate) — on any balance you do not repay in full by your statement due date. Most Irish cards sit between 16.8% and 22.9% APR. Interest accrues daily: your bank divides the APR by 365 to get a daily rate, then applies it to your outstanding balance every day of the billing cycle.
This is why carrying even a modest balance for months leads to surprisingly large interest charges. Our credit card true cost calculator shows you the full picture across all five countries we support.
What Is the €30 Government Stamp Duty on Irish Credit Cards?
Every Irish credit card holder pays a €30 Government Stamp Duty per card per calendar year. Your bank deducts this automatically — typically in April — and you cannot opt out. If you carry a balance over multiple years, this additional charge compounds meaningfully on top of your interest. We apply it automatically to every April in the amortisation schedule — no other Irish payoff calculator does this.
What Is the Difference Between the Snowball and Avalanche Method?
The Debt Snowball clears your smallest balance first for quick psychological wins. The Debt Avalanche targets your highest-APR card first, minimising total interest paid. Mathematically, the Avalanche saves more money — but research shows the Snowball keeps more people motivated to completion. Use the strategy scenarios above to model both on your Irish cards.
Does Credit Card Debt Affect My Mortgage Application in Ireland?
Yes — significantly. Irish mortgage lenders, regulated by the Central Bank of Ireland, count 5% of your credit card limit as a monthly outgoing in their stress tests, even if you clear the balance monthly. A €5,000 credit card limit could reduce your maximum mortgage by roughly €50,000–€80,000 depending on the lender. Clearing card debt before applying is one of the highest-impact actions you can take. Use our reverse VAT calculator for Irish freelancers if you're self-employed and building your affordability case.
What Is the Central Credit Register (CCR)?
The Central Credit Register (CCR) is Ireland's national credit database, operated by the Central Bank of Ireland under the Credit Reporting Act 2013. It records all credit agreements over €500 — credit cards, personal loans, mortgages, and overdrafts. Every regulated lender must check the CCR before granting credit. You are entitled to one free report per year at centralcreditregister.ie. Check it before any major credit application — errors do occur and can be corrected.
When Should I Contact MABS?
MABS — the Money Advice and Budgeting Service — is Ireland's free, confidential, impartial debt advice service, funded by the Citizens Information Board. Contact MABS if you are unable to make minimum payments, receiving debt collection letters, using one card to pay another, or feeling overwhelmed by debt. They are not debt collectors — they sit on your side and negotiate with creditors on your behalf. There is no shame in asking for help.
- Cannot meet minimum credit card payments
- Receiving letters from lenders or debt collection agencies
- Using one card to pay off another
- Behind on mortgage or rent
- Feeling overwhelmed or anxious about money
🆘 Free Debt Advice: For free, impartial debt advice contact MABS at 0818 07 2000 or visit mabs.ie. Lines open Monday–Friday 9am–8pm. No fees. No judgement.
📋 Check Your Credit Report: Check your Central Credit Register report free at centralcreditregister.ie — one free report per year.