Credit Card Interest Calculator
Calculate how much interest you pay on credit card balances. See daily periodic rate, monthly charges, and the true cost of minimum payments.
Monthly Interest Charge
$92
Payoff Time (min payments)
50 years
Total Interest
$34,784
Total Paid
$37,946
Daily Periodic Rate: 0.0603%
Minimum Payment: $100
How Credit Card Interest Works
Credit card interest uses the daily periodic rate (DPR) method. APR / 365 = DPR, applied to your average daily balance. Interest compounds daily.
Example: 22% APR on $5,000
DPR = 0.0603%. Daily interest: $3.01. With 2% minimum payments:
- Payoff time: 24 years
- Total interest: $8,609
Average US Credit Card APR (2025)
Approximately 20.7% to 24.6%. Rewards cards have higher rates.