Credit Card Calculator - Calculator See


Credit Card Calculator

Calculate monthly credit card interest charges, principal repayment, and minimum payment payoff timeline.

Calculator Inputs

$
Total unpaid balance.
%
Credit card purchase APR.
$
Monthly payment amount.

Calculated Results

Monthly Interest Charge
$83.33 / month (at 20% APR)
Daily Periodic Rate (DPR) 0.0548% / day
Standard Minimum Payment (3%) $150.00 / month
Principal Reduction Portion $66.67 / month
Values calculate live as you adjust inputs.

About Credit Card Calculator

Computes the cost of revolving credit card debt based on average daily balance and annual percentage rate (APR).

What is Credit Card Calculator?

Computes the cost of revolving credit card debt based on average daily balance and annual percentage rate (APR).

How to Use This Calculator

  1. Enter your current card balance.
  2. Enter purchase APR percentage.
  3. Enter planned monthly payment.
  4. View monthly interest cost and balance payoff time.

The Mathematical Formula & Variables

Monthly Interest = Balance * (APR / 12)

Step-by-Step Worked Example

Scenario: $5,000 balance at 20% APR paying $200 monthly.

  1. First month interest: $5,000 * (0.20 / 12) = $83.33.
  2. Principal paid: $200 - $83.33 = $116.67.
  3. Remaining balance = $4,883.33.

Result: $83.33 interest, $116.67 principal

Frequently Asked Questions

How do credit card companies calculate minimum payments?

Most card issuers require either 1% of the balance plus new interest and fees, or a flat 2% to 3% of the total balance, whichever is greater (often minimum $25-$35).