Estimate the interest a card balance accrues over months.
Monthly interest is the balance times the APR divided by twelve, and carrying it for several months totals those charges linearly. Cards accrue daily, so even a modest balance carried for a year can cost more than people expect from the headline APR alone.
Credit Card Interest Cost
Interest = balance x APR x months / 12
Interest = balance x APR x months / 12 Monthly interest is the balance times the APR divided by twelve, and carrying it for several months totals those charges linearly.
Cards accrue daily, so even a modest balance carried for a year can cost more than people expect from the headline APR alone.
This calculator takes 3 inputs: Balance, APR, Months carried. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.