Credit Card APR Calculator
Turn an abstract percentage into real numbers: see what your APR costs you per month and per year on your actual balance.
Last updated September 2026 · Reviewed by the CalcMyCard editorial team
APR (Annual Percentage Rate) is the yearly cost of carrying a balance, but it's applied daily. This calculator turns your APR into real dollar figures — per day, per month, and per year — based on your actual balance.
"24.99% APR" doesn't mean much until you see it in dollars. This calculator translates the percentage on your statement into what it actually costs you to carry your current balance, at a daily, monthly, and annual level.
What APR really represents
APR is the annualized version of the rate your issuer charges, but for credit cards it's applied through a daily periodic rate (APR ÷ 365), compounding against your balance every single day of the billing cycle. That's different from a mortgage, where APR is calculated once and bundles in certain fees. For a credit card, APR and "interest rate" are essentially the same number.
Why the number on your statement looks smaller than "APR"
A 24.99% APR doesn't mean you pay 24.99% of your balance today — it means that rate, divided across 365 days and applied to your balance, is what accumulates over a full year if the balance never changed. The table above shows exactly how that plays out month by month if a balance simply revolved untouched, which is a useful (if worst-case) way to see the cost of doing nothing.
Purchase APR vs. cash advance APR
Most cards list several different APRs: one for purchases, a higher one for cash advances, and sometimes a penalty APR that kicks in after a late payment. Cash advances typically start accruing interest immediately, with no grace period, which is why they're usually the most expensive way to borrow on a credit card.
Want the exact daily number?
If you want to see the precise daily periodic rate your issuer is using — and how it compounds over a real billing cycle — use the Daily Periodic Rate Calculator for a more granular breakdown.
Frequently Asked Questions
What does APR stand for and what does it mean?
APR stands for Annual Percentage Rate — the yearly cost of borrowing, expressed as a percentage. For credit cards, it's applied daily (as a daily periodic rate) rather than once a year, so the effective cost compounds throughout your billing cycle.
Is APR the same as interest rate?
For most credit cards, yes, since cards rarely charge separate upfront fees the way mortgages do — APR and interest rate are effectively the same number. On other loan types they can differ because APR bundles in certain fees.
Why do cash advances and purchases have different APRs?
Issuers price risk differently by transaction type. Cash advance APRs are almost always higher than purchase APRs, and cash advances typically have no grace period, so interest starts accruing immediately.
This calculator provides estimates for educational purposes only and is not financial, tax, or legal advice. Your card issuer's actual calculation may differ slightly based on its compounding method, fees, and grace period rules — always confirm against your official statement.