Credit Card Monthly Interest Calculator with Daily and Annual
Calculate your Average Daily Balance »
One day I was looking at my credit card monthly interest charges. Then I figured I should try calculating how much I would end up saving by transferring my balance from one credit card to another credit card with a different APR (Annual Percentage Rate) and taking into consideration the transfer fees I would have to pay. I needed to figure out whether it would be worthwhile for me to go through with the transfer. So, I found the formula to calculate credit card interest per month and decided to offer this tool to the rest of you who are in my situation.
Since I was at it, I figured I would calculate the credit card interest cost I pay per day, month, and year. This would give me a better sense of how much I’m spending on a daily basis and how it adds up if I don’t focus on paying off my credit card(s) soon.
I hope this calculator helps you out with your quest to figure out your finances! It definitely helped me.
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