📈 Interest
Credit Card Interest
Calculator
See exactly what your credit card balance is costing you every day, every month, and every year in interest charges.
💳 Your Credit Card Balance
Monthly Interest Charge
$0
$0/day · $0/year
Daily Interest
$0
Every single day
Monthly Interest
$0
This month
Annual Interest
$0
If balance stays same
Interest at Different Balances
$1,000 balance—
$2,500 balance—
$5,000 balance—
$10,000 balance—
Your balance—
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Frequently Asked Questions
How is credit card interest calculated daily? ▾
Credit cards use daily periodic rate = APR ÷ 365. This rate is applied to your average daily balance each day. The daily charges accumulate throughout your billing cycle. At the end of the cycle, all accrued interest is added to your balance. If you pay your statement balance in full by the due date each month, you pay no interest — this is the grace period. If you carry any balance, interest begins accruing immediately on new purchases.
What's the difference between APR and APY for credit cards? ▾
APR (Annual Percentage Rate) is the stated annual interest rate. APY (Annual Percentage Yield) accounts for compounding — because credit card interest compounds daily, your effective annual rate is slightly higher than the APR. A 22.99% APR compounds to approximately 25.85% APY. The difference is real but rarely discussed. Always compare cards using APR since that's the standard disclosed rate.
Does paying before the due date reduce interest? ▾
Yes — paying earlier in the billing cycle reduces your average daily balance, which reduces interest. Paying your balance in full by the due date eliminates all interest. If you can't pay in full, paying as much as possible as early as possible reduces the daily accrual. Some banks allow you to pay multiple times per month, which can meaningfully reduce interest charges on high balances.