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Credit Card Interest Rate Calculator for Calculating Weighted Average APR

Calculator Preferences
Credit Card Interest Rate Calculator

This calculator will calculate the credit card average APR for all of your cards that have balances on them, using a weighted average formula. Also calculates the current month finance charge for each card. Includes a 60-month minimum payment interest cost schedule and a printer friendly listing of your cards. The Learn tab includes:

  • What is a weighted average?
  • Why is knowing average APR important?
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
Enter Credit Cards

Enter Credit Cards:

To add a credit card, enter the name, balance, and interest rate. When you're satisfied with the entries, tap the + button (may also appear as "Add" or "Add Card" depending on the width of your device).

To edit a credit card in the list, tap the radio button in the Edit column. This will load the card into the form for editing. When you're satisfied with the changes you've made, tap the S button (may also appear as "Save" or "Save Changes" depending on the width of your device).

To delete a credit card from the list, tap the radio button in the Edit column. This will load the card into the form for deleting. Tap the button (may also appear as "Delete" depending on the width of your device).

To clear the form to create a new credit card entry, tap the C button (may also appear as "Clr" or "Clear" depending on the width of your device).

To add a credit card to your credit card interest rate analysis, click the Add Credit Card Row button. Then complete the row of entries for the card you are adding.

To remove a credit card from your credit card interest rate analysis, click the X button in the left-hand column of the row you wish to remove.

Important! The entered credit cards are saved in your device's random memory (temporary storage), which means that if you surf to another calculator or close this browser window you will need to re-enter your cards.

Cost percentage:

The number in this column represents the percentage of total interest charges for the month that each card cost represents.

Tab out of each changed entry field to recalculate the percentage.

X
Card
Name

Credit card name:

Enter the name of the credit card as you want it to appear on the printed report. Note that if the card statement lists more than one interest rate (1 for purchases, 1 for cash advances, etc.), I suggest you enter the balances as separate cards (Visa purchases, Visa cash, etc.).


Statement
Balance ($)

Statement balance:

Enter the statement balance of the credit card, without any dollar sign or commas.


Interest
Rate (%)

Annual interest rate:

Enter the annual interest rate of the credit card. Enter as a percentage without the percent sign (for .06 or 6%, enter 6). If this credit card has more than one interest rate (1 for purchases, 1 for cash advances, etc.), enter the individual rate balances as separate cards (Visa purchase, Visa cash, etc.).


Interest
Cost

Current month interest cost:

Based on your statement balance and interest rate, this is how much interest you will be charged on the balance for the current month.

Tab out of each changed entry field to recalculate the interest cost.


% of
Cost

Percent of total cost:

Based on your balance and interest rate, this column will show the percentage of the total current month interest that each card represents.

Totals: 
Card name:Card name:Credit card name:Credit card name:

Credit card name:

Enter the name of the credit card as you want it to appear on the printed report. Note that if the card statement lists more than one interest rate (1 for purchases, 1 for cash advances, etc.), I suggest you enter the balances as separate cards (Visa purchases, Visa cash, etc.).

Balance:Balance:Statement balance:Statement balance:

Statement balance:

Enter the statement balance of the credit card, without any dollar sign or commas.

Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate of the credit card. Enter as a percentage without the percent sign (for .06 or 6%, enter 6). If this credit card has more than one interest rate (1 for purchases, 1 for cash advances, etc.), enter the individual rate balances as separate cards (Visa purchase, Visa cash, etc.).

Interest:Interest cost:Current month interest cost:Current month interest cost:

Current month interest cost:

Based on your statement balance and interest rate, this is how much interest you will be charged on the balance for the current month.

Avg APR:Average APR:Credit card average APR:Credit card weighted average APR:

Credit card average APR:

This is the weighted average APR of all of your entered credit cards.

Cost / 1%:Cost per 1%:Monthly cost per 1%:Monthly cost per 1% of average APR:

Monthly cost per 1% of average APR:

This is how much each 1% of the weighted average APR is costing you. In other words, for each 1% you are able to lower your average APR, this is how much you will save each month if the balances stay the same.

If you would like to save the current entries to the secure online 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

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.