See how much interest your balance costs you

Most cards use the average daily balance method. Each day's balance is multiplied by the daily rate (APR ÷ 365), then summed and posted monthly. Interest compounds if you don't pay in full.

Annual Percentage Rate — the yearly cost of borrowing, including interest and most fees. Credit card APRs are usually 36%–48% in India, 20%–30% in the US, and 20%–25% in the UK.

Credit cards are unsecured — no collateral backs them. The lender takes on high risk of default, and offsets that risk with high rates. Cards also offer rewards, insurance, and 0% grace periods — all funded by interest from those who carry balances.

The smallest amount your card issuer requires each month. Typically 5% of the outstanding balance, or a floor like ₹500. Paying only the minimum keeps your account in good standing but can take 10+ years to clear a balance.

Because the minimum is 5% of the balance, it shrinks as you pay down the debt. Meanwhile, most of the minimum goes to interest, not principal. So a ₹50,000 balance can take a decade and cost 2–3× the original balance in total.

The interest-free period between your purchase date and the payment due date — usually 20–50 days. You only get it if you pay your previous balance in full. If you carry a balance, you lose the grace period on all purchases.

Most credit cards compound interest daily — the balance is multiplied by the daily rate every day. This makes credit card interest more expensive than monthly compounding at the same APR.

Your account stays in good standing, but you'll pay a lot of interest. On a ₹50,000 balance at 42% APR, you could pay over ₹80,000 in interest and take more than 10 years to clear the debt.

You'll be charged a late fee (usually ₹500–₹1,300 in India, $30–$40 in the US), reported to credit bureaus (damaging your credit score), and possibly charged a penalty APR (5%–10% higher) on the entire balance.

Yes. Cash advances usually have a higher APR (2%–3% more than purchases), no grace period, and often a one-time fee (2.5%–3% of the amount). Avoid them if you can.

Moving your credit card balance to another card, often with a promotional 0% or low-rate period. Can save thousands in interest — but watch for the balance transfer fee (usually 2%–3%) and the higher rate after the promo period.

Often yes. Personal loan rates (10%–18%) are much lower than credit card rates (36%–48%). A personal loan to clear the card can save substantial interest — but only if you don't run up the card again.

Most Indian credit cards charge 36%–48% APR. Premium cards may charge lower rates for high-value customers; rewards cards often charge higher.

Around 20%–25% as of recent years, with store cards and subprime cards charging much more. The average is often quoted at 21%–24% APR.

Typically 20%–25% APR, with some cards up to 30%+. Representative APRs vary by card and credit profile.

Sometimes. If you have a good payment history and credit score, call your issuer and ask for a rate reduction. Success rates vary — but it's always worth trying before applying for a new card.

Yes. Since interest is charged on the average daily balance, paying earlier in the month reduces that average — and reduces interest charged. Even small mid-month payments help.

A higher interest rate the issuer can apply if you miss payments or violate terms. Often 5%–10% higher than your normal APR, applied retroactively to the entire balance.

Yes. Issuers regularly review accounts and may reduce limits if you're carrying high balances, missing payments, or if your credit score drops. A lower limit can push your credit utilisation up, hurting your score.

Closing a card usually hurts your credit score because it reduces your total credit limit, which raises your credit utilisation. Unless the card has an annual fee you don't want to pay, keep it open.

The percentage of your available credit you're using. Card balance ÷ credit limit. Keep it below 30% (ideally below 10%) to protect your credit score.

Not directly — on-time minimum payments keep your account in good standing. But high balances (and high credit utilisation) do hurt your score. So does the eventual damage if you can't keep up.

Yes — pay your balance in full every month by the due date. You keep the interest-free grace period, earn rewards, and build credit. This is how cards should be used.

You're treated as having missed a payment. Late fees apply, your credit score is damaged, and repeated shortfalls can lead to your account being frozen or closed.

Yes. Better credit scores get lower APRs. If your credit improves, ask for a rate reduction — or apply for a new card with a lower rate (but avoid too many applications at once).

Yes — many cards offer 0% APR on purchases or balance transfers for 6–21 months. After the promo period, the rate jumps to standard. Use them strategically, and pay off before the promo ends.

It doesn't — this calculator assumes you don't make new purchases. If you keep spending on the card, you're adding to the balance and the interest charge. Stop using the card until it's paid off.

It uses the standard average daily balance method, which matches how most cards compute interest. Small differences may arise from the exact billing cycle length and rounding. Check your statement for exact figures.

Your statement reflects your actual transactions, mid-cycle payments, and exact billing days. This calculator assumes no new activity. If you've used the card during the cycle, the actual figure will differ.

Yes, and it's often one of the smartest moves. A 0% or low-rate balance transfer can save thousands in interest — just check the fee (typically 2%–3%) and the rate after the promo period.

Multiply the monthly rate by 12 to get the approximate APR, then enter that in this calculator. For example, 3.5%/month ≈ 42% APR.

No. All calculations happen in your browser. Nothing is uploaded, tracked, or stored.

Yes, completely free. And everything runs in your browser — no data is uploaded or stored.