Credit Card Interest Calculator

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Credit card interest is the cost charged on outstanding balances when payments are not made in full by the due date, typically calculated at a high annual percentage rate (APR). More info →

Input

Enter credit card payment details.

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How This Calculator Works

When you don't pay your card in full, the bank charges interest on what you still owe. The calculator shows one month: the interest added to your balance at the card's rate, and the balance left after your payment.

The Formulas

Interest = Balance × APR ÷ 12 ÷ 100
Closing Balance = Balance + Interest − Payment

APR = annual interest rate charged by the card

What Each Input Does

Outstanding Balance: What you currently owe on the card.
Annual Interest Rate (%): The card's yearly rate (APR). One twelfth of it is charged each month.
Minimum Required Payment (By Bank): The amount you pay this month. It must be more than zero and no more than the balance plus interest.

Step by Step

The annual rate is divided by 12 to get the monthly rate.
Interest for the month = balance × monthly rate.
Interest is added to the balance and your payment is subtracted.

Reading the Result

Paying only the minimum – most of it goes to interest, so the balance falls slowly.

Paying more – reduces next month's interest and clears the debt faster.

Quick Example

Balance 100,000, APR 36%, payment 5,000. Interest for the month is 100,000 × 3% = 3,000, so the closing balance is 100,000 + 3,000 − 5,000 = 98,000. Only 2,000 of your 5,000 actually reduced the debt.