Credit card interest calculator
Estimate how much interest a card charges in a billing cycle.
How it works
Most issuers divide the APR by 365 to get a daily rate, then apply it to your balance for each day in the cycle.
Issuers may compound daily and offer grace periods. Your statement shows the exact interest charge.
Example
With the sample inputs shown above (Average daily balance ($) = 3000; APR (%) = 22.9; Days in billing cycle = 30), the calculator returns: Interest this cycle: $56.47; Daily rate: 0.0627%; Per year at this balance: $687 (Simple estimate).
Things to know
Use the average daily balance from your statement and the number of days in the cycle. If you pay the full statement balance every month, you typically pay no interest on new purchases. The yearly figure shows what a balance costs if it never changes.