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Credit Card Interest Calculator: Monthly and Total Cost

Enter your balance, APR and monthly payment to see this month's interest, the daily rate, and total interest until the card is paid off.

Credit card interest calculator

Example defaults: a $5,000 balance at 22.36% APR (the Federal Reserve's recent average on card accounts assessed interest) with a $150 monthly payment.

Interest this month (about)
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Interest until paid off
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Estimates only, based on the numbers you enter. Example defaults are illustrations, not offers. A lender's written Truth in Lending disclosure shows your actual APR, finance charge and payment schedule. Nothing you type here is saved or sent.

Quick answer

Enter your card balance, APR and monthly payment to estimate this month's interest, your daily periodic rate and the total interest you will pay before the balance is gone.

Card interest is easy to underestimate because it is quoted as a yearly rate but charged daily. This calculator turns your APR into dollars.

How card interest works

  • APR to daily rate. The CFPB says the daily periodic rate is usually the APR divided by 360 or 365.
  • Charged on your balance. Many issuers apply it to your average daily balance and add it to the balance, so it compounds.
  • Grace period. If you pay the full balance by the due date, you can usually avoid interest on new purchases.

Worked example

A $5,000 balance at 22.36% APR:

Amount
Interest in one month (about)$93
Interest per day (about)$3.06
Total interest at $150 a monthabout $2,886 over 53 months
Total interest at $250 a monthabout $1,315 over 26 months

Worked examples are arithmetic illustrations, not offers. 22.36% is the Federal Reserve's recent average on card accounts assessed interest.

Ways to pay less interest

Ready to see real numbers? Use the form on this page to check whether partner lenders may have an offer, with the APR and full payment schedule shown before you commit, or call (800) 236-7761.

Examples are illustrations, not offers. Approval, APR and terms depend on the lender, your state and your credit profile.

Questions about credit card interest calculator: monthly and total cost

How is credit card interest calculated?

The CFPB says many issuers calculate interest daily using a daily periodic rate, the APR divided by 360 or 365, applied to your balance. This calculator uses a monthly estimate.

How can I avoid credit card interest?

If your card has a grace period, pay the full statement balance by the due date. The CFPB notes cash advances usually have no grace period.

What is the average credit card APR?

The Federal Reserve's G.19 release reported an average of 22.36% on card accounts assessed interest in its most recent quarterly data.

Why does my balance barely move?

If most of your payment covers interest, little is left for principal. Raising the payment, even a little, helps.

Sources

  1. CFPB: How does my credit card company calculate the amount of interest I owe? (accessed 2026-10-09)
  2. CFPB: What is a daily periodic rate on a credit card? (accessed 2026-10-09)
  3. CFPB: What is a grace period for a credit card? (accessed 2026-10-09)
  4. Federal Reserve G.19 Consumer Credit (interest rates) (accessed 2026-10-09)

Last updated 2026-10-09. How we research and update pages.

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