How to use the Credit Card Interest Calculator
- 1 Enter the values requested by the calculator.
- 2 Review the result and the assumptions shown with it.
How this calculator works
Estimate credit card interest and remaining balance over a selected number of months.
Assumptions and limitations
Uses APR divided by 365 with 30 days of daily compounding each month, then applies the payment. Issuers can use different billing-cycle and balance methods; excludes new purchases and fees.
Further reading: Consumer Financial Protection Bureau: Daily periodic rate.
Frequently asked questions
How is this estimate calculated?
Estimate credit card interest and remaining balance over a selected number of months.
What should I keep in mind?
Uses APR divided by 365 with 30 days of daily compounding each month, then applies the payment. Issuers can use different billing-cycle and balance methods; excludes new purchases and fees.
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