Credit Card Interest Calculator
See the daily, monthly, and yearly interest a credit card balance racks up at its APR when you carry it. Free credit card interest calculator.
Independently verified for accuracy
- Daily interest
- 3.01
- Monthly interest
- 91.67
- Yearly interest
- 1100
This calculator shows the interest a credit card balance accrues per day, per month, and per year at its APR when you carry it without paying. Use it to see the real cost of a revolving balance and to weigh paying it down against other priorities.
How this is calculated
Interest is figured on the current balance at the quoted APR with no payments, using APR divided by 365 for the daily figure, APR divided by 12 for the monthly figure, and the full APR for the yearly figure.
How to use
- Enter your current card balance.
- Enter the card APR as a percentage.
- Read the interest that accrues per day, month, and year.
Examples
- $5,000 at 22% APR:
$3.01/day, $91.67/mo - $1,200 at 18.99% APR:
$0.62/day, $18.99/mo
FAQ
- How is credit card interest calculated?
- Cards usually charge a daily periodic rate, the APR divided by 365, on your balance. We show that daily figure plus the equivalent monthly (APR/12) and yearly (full APR) cost at the current balance.
- How do I avoid this interest?
- Pay the statement balance in full by the due date. Most cards give an interest-free grace period on purchases when you carry no balance, so paying in full each month means no interest at all.
- Does this assume I make payments?
- No. It shows interest on a fixed balance with no payments, so it is the cost of carrying that amount. If you make payments, the balance and interest fall over time. Use a payoff calculator for that.