Credit Card Interest Calculator for Multiple Rate Balances

Credit Card Interest Calculator Sign

This calculator will calculate the current interest charges for a card balance containing up to 3 different APRs.

The calculator is an alternate version of the finance charge calculator that highlights the unethical payment allocation method often used by credit card companies.

Instead of entering a fixed payment amount, this version allows you to enter the actual minimum payment percentage and smallest minimum payment dollar amount as stated on your monthly statement. The calculator then determines the minimum payment amount for you.

Additionally, instead of just showing a 60-month payment allocation comparison, this version shows the comparison until both allocation methods have paid off the balance.

Read more ...

Credit Card Interest Calculator

Calculate current credit card interest for a card having multiple rates (purchases, cash advances, introductory).

Special Instructions

Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Min pmt %:Minimum pmt %:Minimum payment percentage:Minimum payment percentage:

Minimum payment percentage:

Enter the minimum payment percentage for the card (usually somewhere between 2% and 5% of the balance). Enter as a percentage, but without the percent sign.

%
Min pmt $:Minimum pmt $:Minimum payment dollar amount:Smallest minimum payment dollar amount:

Smallest minimum payment dollar amount:

Enter the smallest payment allowed by your credit card company, but without the dollar sign. For example, if your statements reads, 2% of the balance or $15, whichever is greater, you would enter 15 as the smallest minimum payment amount.

$
Annual fee:Annual fee:Annual fee:Annual fee:

Annual fee:

If your credit card has one, enter the annual fee, but without the dollar sign. The calculator will take 1/12th of the fee and add it to your current finance charge.

$
Penalty APR:Penalty APR:Penalty annual percentage rate:Penalty annual percentage rate:

Penalty annual percentage rate:

Enter the penalty APR as stated on your credit card statement, but without the percent sign. The calculator will use this entry to show you what will happen to your monthly finance charge if you are late making a payment.

%
Intro months:Introductory months:Number of introductory months:Number of months introductory rate in effect:

Number of months introductory rate in effect:

If you will be entering a balance transfer amount below, select the number of months the introductory rate will be in effect for.

Enter Balances and RatesEnter Balances and Rates:Enter Balances and Rates:Enter Balances and Rates:

Enter Balances and Rates:

Expand the description in each of the following rows to enter the beginning balance, current charges, and interest rates for each interest rate balance.

TransTransferTransferred balanceTransferred balance (0%):
Begin balance:
$
New charges:
$
APR:
%
End Balance:

Transferred balance:

Expand the entry form in this row and enter the beginning balance, current month transfers (if any) and the interest rate for this portion of the overall balance. Leave off all dollar signs, percent signs, and commas.

$0.00
PurchPurchasesPurchases balancePurchases balance (0%):
Begin balance:
$
New charges:
$
APR:
%
End Balance:

Purchases balance:

Expand the entry form in this row and enter the purchases beginning balance, current month purchases (if any) and the interest rate for purchases. Leave off all dollar signs, percent signs, and commas.

$0.00
CashCashCash advance balanceCash advance balance (0%):
Begin balance:
$
New charges:
$
APR:
%
End Balance:

Cash advance balance:

Expand the entry form in this row and enter the cash advance beginning balance, current month cash advances (if any) and the interest rate for cash advances. Leave off all dollar signs, percent signs, and commas.

$0.00
Total bal:Total balance:Total credit card balance:Total credit card balance:

Total credit card balance:

This is the total of all sub-balances and new charges on your credit card.

$0.00
Current Billing CycleResults for Current Billing Cycle:Results for Current Billing Cycle:Results for Current Billing Cycle:
Minimum pmt:Minimum payment:Current minimum payment:Minimum payment for current billing cycle:

Minimum payment for current billing cycle:

This is your current minimum payment based on the entered minimum payment percentage. If this result does not match the actual payment, you may need to adjust the minimum payment percentage in the top section of the calculator.

Transfer int:Transfer interest:Transfer interest charges:Transfer interest charges:

Transfer interest charges:

This is the current interest charge for the low introductory rate portion of your balance.

Purchases int:Purchases interest:Purchases interest charges:Purchases interest charges:

Purchases interest charges:

This is the current interest charges for the purchases portion of your balance.

Cash int:Cash interest:Cash advance interest charges:Cash advance interest charges:

Cash advance interest charges:

This is the current interest charges for the cash advance portion of your balance.

Annual fee:Annual fee:Annual fee:Annual fee:

Annual fee:

This is 1/12th of the annual fee you are paying to have the card.

Total costs:Total costs:Total finance charges and fees:Total finance charges and fees:

Total finance charges and fees:

This is the total current finance charges plus 1/12th of the annual fee.

If penalty:If penalty APR:If penalty APR is in effect:Interest charges if penalty APR is in effect:

Interest charges if penalty APR is in effect:

This is how much your finance charges would be if you had been late making one of your past monthly payments.

Payment Allocation Comparison
Tap the text for a description of each row result.
CompareNumber of Monthly PaymentsInterest Charges
Lowest first:Lowest first:Lowest rate first:Lowest rate balance first:

Lowest rate balance first:

This row shows the number of payments and interest cost that will result if you make only the minimum monthly payments and if your credit card company applies the principal portion of your payment to reducing the lowest rate balance on your card (unethical payment allocation).

Highest first:Highest first:Highest rate first:Highest rate balance first:

Highest rate balance first:

This row shows the number of payments and interest cost that will result if you make only the minimum monthly payments and if your credit card company applies the principal portion of your payment to reducing the highest rate balance on your card (ethical payment allocation). Note that if you only entered data for 1 sub-balance type, then this row will be blank.

Unethical cost:Unethical cost:Cost of unethical allocation:Cost of unethical payment allocation:

Cost of unethical payment allocation:

This row shows the additional payments and interest costs due to the unethical payment allocation by credit card companies. Note that if you only entered data for 1 sub-balance type, then this row will be blank.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Help and Tools

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.