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Question:
How much interest am I paying when I revolve balances?
If
you don't pay off your credit card balance each month, you're
paying more than you should in interest. But how much? Enter
your credit card balance, your interest rate, and an average
monthly payment, then choose a time period to see how much
interest you'd actually pay over that span.
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Enter your current credit card
balance
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$
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Enter
your credit card's interest rate (shown as APR on your
credit card statement)
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%
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Enter your average monthly payment,
in dollars. (If you leave this blank, the calculator
will use 3% of the balance in this calculation)
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$
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Over what time period would you
like to calculate your interest charges?
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You will pay $
in interest charges over that
time period.
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