Credit Card Interest Tool
Visualize the real cost of carrying a balance. Our tool calculates your daily periodic interest rate and shows how long it takes to clear your debt at different payment levels.
The Cost of Credit
Credit card interest compounded daily. This means your "Daily Periodic Rate" (APR divided by 365) is applied to your balance every single day. Even small payments slightly above the minimum can save you years of debt and thousands in interest.
Pro Tip: The Minimum Payment Trap
If you only pay the minimum required amount, 70% to 90% of your payment may be going toward interest rather than the principal balance. This is how a $5,000 balance can take decades to pay off.