A credit card charges interest on the balance you carry, using a daily rate that comes from the APR. Enter the average balance for the billing cycle, the APR on your statement, and the number of days in the cycle. The calculator shows the interest for that cycle and how much builds up each day.
Each row changes one number by a tenth, and keeps the rest as you entered them.
| Scenario | Interest for this billing cycle | Interest that builds up each day |
|---|
The first result for each scenario, drawn to scale.
Enter your numbers in the boxes. The results update as you type, using the same calculation as the calculator.
The scenario table shows what changes when one number moves. Use it to see which number has the most effect on your result.
The results are estimates. They use only the numbers you enter, so they can differ from what a bank, lender, or adviser calculates.
