Credit Card Interest Calculator


How much are you paying in interest on your credit cards if you don't pay them in full? Use this credit card calculator to find out how much you're paying in interest on your credit cards.

How much are you paying in interest?

Lower your Interest rates with better credit.


Credit Card Balance:
Interest (Annual Percentage Rate):
Monthly Payment: (at least $25 for each $100)
Months required to pay balance:
Your total payment will be:
Your total interest payments will be:


What is Credit Card Interest?

Credit card interest is the fee that credit card companies charge you for borrowing money. It is typically expressed as an annual percentage rate (APR), which is the total amount of interest you will pay on your balance over one year.


How Does Credit Card Interest Work?

When you make a purchase with your credit card, the credit card company advances you the money immediately. You then have a certain amount of time, usually 21 to 30 days, to pay back the balance in full. If you don't pay the balance in full, you will be charged interest on the remaining balance.

The amount of interest you pay will depend on your credit card's APR. The higher your APR, the more interest you will pay. Credit card interest rates can be very high, so it is important to pay your balance in full each month to avoid paying unnecessary interest.


How to Avoid Credit Card Interest

There are a few things you can do to avoid credit card interest:

  • Pay your balance in full each month. This is the best way to avoid credit card interest.
  • Choose a credit card with a low APR. If you can't pay your balance in full each month, choose a credit card with a low APR to minimize your interest charges.
  • Take advantage of 0% APR offers. Many credit cards offer 0% APR for a certain period of time, such as 12 to 18 months. This can be a great way to finance a large purchase without paying interest.
  • Make multiple payments each month. If you can't pay your balance in full, try to make multiple payments each month. This will help you reduce your interest charges.


The Dangers of Credit Card Interest

Credit card interest can add up quickly, so it is important to be aware of the dangers. If you carry a balance on your credit card, you could end up paying hundreds or even thousands of dollars in interest over time. This can make it difficult to pay off your debt and can damage your credit score.

If you are struggling to pay your credit card bill, there are resources available to help you. You can speak to a credit counselor or bankruptcy attorney to get help getting out of debt.


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