Credit Card Interest Calculator
Find how much interest a credit card balance costs at your payment, or the payment to clear it in time.
Change the values and press Calculate to work out your own figures.
Interest at a payment
Enter the balance, rate and payment.
Show the working
- interest = Σ balance × APR ÷ 12 each month
Payment for a time
Enter the amount, rate and term.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $118.27 | $2,000.00 | $0.00 |
Show the working
- payment = P × i ÷ (1 − (1 + i)^−n)
- each payment: interest = balance × i (to the cent), the rest repays principal
How to use it
Enter the balance, rate and payment. Enter the amount, rate and term.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
interest = Σ balance × APR ÷ 12 each month
Questions
How much interest does $7,500 at 18.99% cost paying $500 a month?
About $1,130 over 18 months.
Formulas
interest = Σ balance × APR ÷ 12 each month
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.