Credit Card Interest Calculator
Enter your balance, APR, the days in your billing cycle and your monthly payment. You'll see this month's interest, the cost per day, and the interest until the card is paid off.
Debt-free in 3 years, 9 months · $110.75 interest this month See results
The purchase APR on your statement.
Usually 28 to 31.
Interest this month (APR ÷ 12)
$110.75
Interest this month (daily rate, 30 days)
$109.23
Interest per day
$3.64
Total interest to pay off
$2,823.31
over 3 years, 9 months
APR ÷ 12 charges one twelfth of a year, about 30.4 days. The daily-rate figure charges exactly 30 days at APR ÷ 365, so it comes out $1.52 lower. Your statement uses the real cycle length and your average daily balance.
This payment never pays it off
Month-by-month schedule at this payment
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $200.00 | $110.75 | $89.25 | $5,910.75 |
| 2 | $200.00 | $109.10 | $90.90 | $5,819.85 |
| 3 | $200.00 | $107.42 | $92.58 | $5,727.27 |
| 4 | $200.00 | $105.72 | $94.28 | $5,632.99 |
| 5 | $200.00 | $103.98 | $96.02 | $5,536.97 |
| 6 | $200.00 | $102.20 | $97.80 | $5,439.17 |
| 7 | $200.00 | $100.40 | $99.60 | $5,339.57 |
| 8 | $200.00 | $98.56 | $101.44 | $5,238.13 |
| 9 | $200.00 | $96.69 | $103.31 | $5,134.82 |
| 10 | $200.00 | $94.78 | $105.22 | $5,029.60 |
| 11 | $200.00 | $92.84 | $107.16 | $4,922.44 |
| 12 | $200.00 | $90.86 | $109.14 | $4,813.30 |
| 13 | $200.00 | $88.85 | $111.15 | $4,702.15 |
| 14 | $200.00 | $86.79 | $113.21 | $4,588.94 |
| 15 | $200.00 | $84.70 | $115.30 | $4,473.64 |
| 16 | $200.00 | $82.58 | $117.42 | $4,356.22 |
| 17 | $200.00 | $80.41 | $119.59 | $4,236.63 |
| 18 | $200.00 | $78.20 | $121.80 | $4,114.83 |
| 19 | $200.00 | $75.95 | $124.05 | $3,990.78 |
| 20 | $200.00 | $73.66 | $126.34 | $3,864.44 |
| 21 | $200.00 | $71.33 | $128.67 | $3,735.77 |
| 22 | $200.00 | $68.96 | $131.04 | $3,604.73 |
| 23 | $200.00 | $66.54 | $133.46 | $3,471.27 |
| 24 | $200.00 | $64.07 | $135.93 | $3,335.34 |
| 25 | $200.00 | $61.56 | $138.44 | $3,196.90 |
| 26 | $200.00 | $59.01 | $140.99 | $3,055.91 |
| 27 | $200.00 | $56.41 | $143.59 | $2,912.32 |
| 28 | $200.00 | $53.76 | $146.24 | $2,766.08 |
| 29 | $200.00 | $51.06 | $148.94 | $2,617.14 |
| 30 | $200.00 | $48.31 | $151.69 | $2,465.45 |
| 31 | $200.00 | $45.51 | $154.49 | $2,310.96 |
| 32 | $200.00 | $42.66 | $157.34 | $2,153.62 |
| 33 | $200.00 | $39.75 | $160.25 | $1,993.37 |
| 34 | $200.00 | $36.79 | $163.21 | $1,830.16 |
| 35 | $200.00 | $33.78 | $166.22 | $1,663.94 |
| 36 | $200.00 | $30.71 | $169.29 | $1,494.65 |
| 37 | $200.00 | $27.59 | $172.41 | $1,322.24 |
| 38 | $200.00 | $24.41 | $175.59 | $1,146.65 |
| 39 | $200.00 | $21.17 | $178.83 | $967.82 |
| 40 | $200.00 | $17.86 | $182.14 | $785.68 |
| 41 | $200.00 | $14.50 | $185.50 | $600.18 |
| 42 | $200.00 | $11.08 | $188.92 | $411.26 |
| 43 | $200.00 | $7.59 | $192.41 | $218.85 |
| 44 | $200.00 | $4.04 | $195.96 | $22.89 |
| 45 | $23.31 | $0.42 | $22.89 | $0.00 |
| Total | $8,823.31 | $2,823.31 | $6,000.00 | $0.00 |
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How we calculate thisYour numbers never leave your device.
This credit card interest calculator shows what your balance costs you this month and until it’s paid off. It works out one month of interest at your APR divided by 12, the same month using a daily rate for the days in your billing cycle, the interest per day, and total interest at your monthly payment.
How to use this calculator
- Enter your balance, the amount you carry past the due date.
- Enter your APR, the purchase rate from your statement.
- Enter the days in your billing cycle. It starts at 30. Your statement shows the cycle’s start and end dates, so you can count the real number.
- Enter your monthly payment to see the interest over the whole payoff.
What the results mean
- Interest this month (APR ÷ 12)
- Your balance times one twelfth of the APR. Our payoff calculators use this method for every month.
- Interest this month (daily rate)
- Your balance times the APR divided by 365, times the days in the cycle. This is closer to how many issuers bill. A 31-day cycle costs a little more than a 28-day one at the same balance.
- Interest per day
- What carrying the balance costs for each day. On a real statement, paying earlier in the cycle lowers the average daily balance, so less interest builds up.
- Total interest to pay off
- All the interest you pay before the balance reaches $0 at your monthly payment. If the payment doesn't cover the monthly interest, the result is "never".
How credit card interest is calculated
According to the CFPB, many issuers calculate interest daily, based on your average daily balance. The daily periodic rate is the APR divided by 360 or 365, depending on the issuer. Each day’s balance is added up, divided by the days in the cycle, and the daily rate is applied to that average for each day of the cycle. Because the daily interest is added to the balance, it compounds.
The APR divided by 12 gives almost the same monthly figure. Federal rules let issuers use either a monthly or a daily rate for the payoff estimates printed on statements. For planning, the gap is small. For matching your statement to the cent, the daily-rate line is the one to check.
If your card has a grace period and you pay the full statement balance by the due date, you usually pay no interest on purchases. Carry any balance and interest starts to add up.
Worked example
A $5,000 balance at 22.99% APR costs $95.79 in interest for one month at the APR divided by 12. At $150 a month, it takes 4 years, 6 months to pay off, and the total interest comes to $3,045.30.
The Federal Reserve’s average APR on credit card accounts that were charged interest was 22.15% as of Q2 2026 (see our sources). At that rate, the same $5,000 costs $92.29 a month.
How we calculate this
The monthly figure is balance × APR ÷ 12, rounded half-up to the cent. The daily figure is balance × APR ÷ 365 × days in the cycle, which assumes the balance stays the same for the whole cycle. The payoff total runs month by month at APR ÷ 12 until the balance is gone, with an exact final payment. See the methodology page.
Related
- How credit card interest works: average daily balance, grace periods and more.
- What is APR?: what the rate on your statement means.
- Credit card payoff calculator: find your payoff date.
FAQ
How is credit card interest calculated?
Many issuers use the average daily balance. They add up each day’s balance in the billing cycle, divide by the number of days, then charge the daily periodic rate (APR divided by 360 or 365) for each day. Interest is added to the balance daily, so it compounds. Your card agreement names the exact method.
How much interest will I pay on $5,000?
At 22.99% APR, one month of interest on $5,000 is $95.79. Over a full payoff at $150 a month, it adds up to $3,045.30. Change the balance, rate or payment above to see your own figure. Paying more each month is the fastest way to cut the total.
What is a daily periodic rate?
It is your APR divided by 365, or by 360 at some issuers. The CFPB describes it as the rate charged on the amount you owe at the end of each day. The daily figure looks tiny, but it is charged every day of the cycle, and each day’s interest is added to the balance.
Why is my interest different every month?
Billing cycles have different lengths, and your balance changes as you pay and spend. A 31-day cycle charges one more day of interest than a 30-day one. The timing of your payment matters too, because paying earlier in the cycle lowers the average daily balance the interest is charged on.
How do I stop paying interest on my credit card?
Pay the full statement balance by the due date each month. If your card has a grace period, the CFPB says that avoids interest on purchases. If you already carry a balance, interest keeps accruing until it is paid off, so a fixed payment above the minimum is the way out.