Credit Card Interest Calculator
See exactly how much money you're throwing away in interest every month — and what it would cost to only pay the minimum.
💳 Your Cards
📚 Credit Card Interest FAQ
Why does my balance keep growing even when I make payments? 😤
If your minimum payment is less than the monthly interest charge, your balance actually grows each month. This is called negative amortization. For example, on a $6,000 balance at 28% APR, the monthly interest is $140. If your minimum is only $120, your balance grows by $20 every month even while you're paying.
Does carrying a balance help my credit score? (Common myth) 🤔
No — this is completely false. Carrying a balance does nothing to improve your credit score. It only costs you money in interest. You can maintain an excellent score (750+) by using your cards regularly and paying the full balance every month. The credit bureaus see usage, not whether you carry a balance.
Which card should I pay off first? 🎯
Focus on the highest-APR card first (the avalanche method). This saves the most money in interest. Pay the minimum on all other cards and throw every extra dollar at the highest-rate card. Once it's paid off, attack the next highest. TrustyBooker automates this calculation across all your cards.