Credit Card Interest Calculator
Calculate exactly how much interest you're paying on your credit card balance daily, monthly, and annually.
Credit Card Interest Calculator
Your Interest Charges
Daily Interest
$2.60
(0.0520% daily rate)
Monthly Interest
$79.12
Annual Interest
$949.50
💡 How it works: Credit card interest compounds daily. Your 18.99% APR = 0.0520% per day. On a $5,000 balance, that's $2.60/day or $79.12/month.
How Credit Card Interest Works
Credit cards charge compound interest daily. Your APR is divided by 365 to get a daily rate, then multiplied by your daily balance. This compounds every day, which is why credit card debt grows so quickly.
Formula:
Daily Interest = (Balance × APR ÷ 365)
Monthly Interest = Daily Interest × Days in Month