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Credit Card Finance Charge Calculator for Multiple APR Balances

Calculator Preferences
Credit Card Finance Charge Calculator Sign
Credit Card Finance Charge Calculator

This calculator will calculate the current finance charges on a credit card balance that consists of multiple interest rates. This version calculates the minimum payment percentage for you based on the minimum payment amount from your credit card statement, and includes a month-by-month payment allocation comparison for the next five years. The $ecret tab includes:

  • Jaw-dropping payment allocation method
  • Credit Card Accountability, Responsibility and Disclosure Act
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Min pmt:Minimum payment:Minimum payment amount:Minimum payment amount:

Minimum payment amount:

Enter the minimum payment amount from your most recent credit card statement. Enter as a dollar amount but without the dollar sign and any commas. The calculator will use this figure along with your statement balance to calculate your minimum payment percentage.

Annual fee:Annual fee:Annual fee:Annual fee:

Annual fee:

If your credit card has one, enter the annual fee. Enter as a dollar amount but without the dollar sign and any commas. The calculator will take 1/12th of the fee and add it to your current finance charge.

Penalty APR:Penalty APR:Penalty APR:Penalty APR:

Penalty APR:

Enter the penalty APR as stated on your credit card statement. Enter as a percentage, but without the percent sign. The calculator will use this entry to show you what will happen to your monthly finance charge if you are late making a payment.

Intro months:Introductory months:Number of introductory months:Number of months introductory rate in effect:

Number of months introductory rate in effect:

If you will be entering a balance transfer amount below, select the number of months the introductory rate will be in effect for.

Enter Balance BreakdownEnter Balance Breakdown:Enter Beginning Balances, New Charges, and Rates:Enter Beginning Balances, New Charges, and Rates:

Enter Beginning Balances, New Charges, and Rates:

Expand the description in each row to enter the beginning balance, current charges, and interest rates for each interest rate balance.

TransTransferTransferred balanceTransferred balance (0%):
Begin balance:
New charges:
APR:
End Balance:

Transferred balance:

Enter the beginning balance, current month transfers (if any) and the interest rate for this portion of the overall balance. Leave off all dollar signs, percent signs, and commas.

$0.00
PurchPurchasesPurchases balancePurchases balance (0%):
Begin balance:
New charges:
APR:
End Balance:

Purchases balance:

Enter the purchases beginning balance, current month purchases (if any) and the interest rate for purchases. Leave off all dollar signs, percent signs, and commas.

$0.00
CashCashCash advance balanceCash advance balance (0%):
Begin balance:
New charges:
APR:
End Balance:

Cash advance balance:

Enter the cash advance beginning balance, current month cash advances (if any) and the interest rate for cash advances. Leave off all dollar signs, percent signs, and commas.

$0.00
Total bal:Total balance:Total credit card balance:Total credit card balance:

Total credit card balance:

This is the total of all sub-balances and new charges on your credit card.

$0.00
Trans chg:Transfer charge:Transfer finance charges:Transfer finance charges:

Transfer finance charges:

This is the current finance charge for the low introductory rate portion of your balance.

Purch chg:Purchases charge:Purchases finance charges:Purchases finance charges:

Purchases finance charges:

This is the current finance charge for the purchases rate portion of your balance.

Cash chg:Cash charge:Cash advance finance charges:Cash advance finance charges:

Cash advance finance charges:

This is the current interest charges for the cash advance portion of your balance.

Annual fee:Annual fee:Annual fee:Annual fee:

Annual fee:

This is 1/12th of the annual fee you are paying to have the card.

Total chg:Total charges:Total finance charges and fees:Total finance charges and fees:

Total finance charges and fees:

This is the total current finance charges plus 1/12th of the annual fee.

If penalty:If penalty APR:If penalty APR is in effect:Interest charges if penalty APR is in effect:

Interest charges if penalty APR is in effect:

This is how much your finance charges would be if you had been late making one of your past monthly payments.

Payment Allocation Comparison
Tap the text for a description of each row result.
CompareNumber of Monthly PaymentsInterest Charges
Lowest first:Lowest first:Lowest rate first:Lowest rate balance first:

Lowest rate balance first:

This row shows the number of payments and interest cost that will result if you make only the minimum monthly payments and if your credit card company applies the principal portion of your payment to reducing the lowest rate balance on your card (unethical payment allocation).

Highest first:Highest first:Highest rate first:Highest rate balance first:

Highest rate balance first:

This row shows the number of payments and interest cost that will result if you make only the minimum monthly payments and if your credit card company applies the principal portion of your payment to reducing the highest rate balance on your card (ethical payment allocation). Note that if you only entered data for 1 sub-balance type, then this row will be blank.

Unethical cost:Unethical cost:Cost of unethical allocation:Cost of unethical payment allocation:

Cost of unethical payment allocation:

This row shows the additional payments and interest costs due to the unethical payment allocation by credit card companies. Note that if you only entered data for 1 sub-balance type, then this row will be blank.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

About

About the Credit Card Finance Charge Calculator

This calculator will calculate the current finance charge for a credit card containing up to 3 different interest rates.

Unlike most credit card interest calculators, this calculator will also calculate the additional payments and costs that are created by the devious method credit card companies use to apply your payments to your multiple rate balances.

This particular version asks you to enter the minimum payment amount and creates a 5-year payment allocation comparison chart.

If you would like the minimum payment amount calculated for you, and you would like to see the payment allocation comparison chart for the entire repayment term, feel free to use the alternate version to calculate credit card interest charges.

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Instructions

How to use the Credit Card Finance Charge Calculator

Step #1:

Enter the minimum payment amount from your credit card statement.

Step #2:

Enter the annual fee, if applicable.

Step #3:

Enter the penalty APR as listed on your statement.

Step #4:

If one of your balances came with an introductory rate, select the number of months remaining in the introductory period.

Step #5:

For each APR listed on your statement, tap the info icon to enter the balance at the start of billing cycle, additions during the billing cycle, and the balance's annual percentage rate.

Step #6:

Tap the "Calculate Finance Charge" button and scroll down to view the results.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

Sorry! The Save functions are bonus features reserved for those who allow ads to display on the page.

If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site.

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

Favorites

Add or remove this page to/from my favorites.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.