Credit Card Interest Calculator

Credit Card Interest Calculator

In order to help you better understand the impact of interest, we built this credit card debt calculator. Enter your the details of your outstanding balances, interest rates, and the payments you’re making into the fields below. We’ll calculate for you the total interest you can expect to pay on your current obligations. If you would like to consolidate your credit card debt, or defer paying interest, consider applying for a balance transfer credit card.

balance

payment

interest (APR)

payoff time

You will pay a total of $0 in interest over this time.

Visualizing Your Debt Burden

To help you track how quickly your balance will be affected under your current payment plan, we graphed your progress over time below.

Balance
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Credit Card Debt Calculator Methodology

Credit card interest kicks in on the remainder of your unpaid balance each month. For the above calculator, we assumed you begin with a set balance, and begin to pay it off over time. The interest for each month is equal to the periodic rate multiplied by your balance after a payment is applied.

The periodic rate varies month to month, depending on the number of days in a billing period. In order to approximate this, we divide the card APR by 12, to get a monthly periodic rate.

The interest rate is then added to the balance after payment, and carries over into the next month where the process is repeated.

Citi® Diamond Preferred® Card

  • On Citibank's Secure Website

$0

14.74% - 24.74% (Variable)

Excellent

  • 0% Intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
  • Shop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi® Identity Theft Solutions.
  • The standard variable APR for Citi Flex Plan is 14.74% - 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).