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Daily Periodic Rate Calculator Help

Most credit card statements show the Daily Periodic Rate or the daily interest rate. Enter your balance and the credit card's yearly interest rate and this calculator will show you the daily periodic rate and the average amount of interest you are paying each day on the outstanding balance.

Input Fields:
Title A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Credit Card Balance Your current outstanding balance on this credit card.
Interest Rate The current annual interest rate charged for the outstanding balance on this credit card. You may actually have different interest rates for different balance amounts. This could happen if part of your balance came from a cash advance (many credit cards charge a higher interest rate and no grace period for cash advances), or if you made some purchases during a lower percentage promotion period, or maybe you transferred the balance from another credit card for a special low interest rate promotion.

Output Fields:
Daily Periodic Rate 'Interest Rate' / 365 gives the daily interest rate (also referred as Daily Periodic Rate) you pay on the 'Credit Card Balance'.
Daily Interest Amount The average amount of interest you pay each day on the 'Credit Card Balance'.

Buttons and Checkboxes:
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All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Credit Card calculators are intended only to provide comparisons that may assist you with making decisions regarding how to handle your credit. All credit card obligations need to paid each month by their individual due dates. Check all statements from credit card issuers carefully to make sure you pay at least the minimum stated on each. If you have serious credit card debt problems, please seek the advice of a qualified professional who is fully aware of your individual circumstances.
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Updated 04 Jul 2007