How can I calculate monthly interest payment?

simonpearce

Hi,

My credit card's interest rate is about to change to 16.9 APR and I'd like to know what that's going to cost me on my outstanding £4k.

The bank said they couldn't tell me (which I find difficult to belive but couldn't be bothered arguing with) - can anyone help me with the maths - or even better point me to an online calculator?

Cheers

Simon

Robert_Sterling

In the region of £56 per month

simonpearce

Thanks Robert - worth a £120 balance transfer fee to a new 0% card I think!

Cheers

Simon

System

Handy tool here:

http://www.whatsthecost.com/creditcard.aspx

Originally posted by never-in-doubt.

Regards
UNDERGROUND

CLAPTON

well per month it's something like

£4000 x 16.9% (per annum ) x 30 (days per month) / 365 (days per year) = £55.56 ish

never-in-doubt

UNDERGROUND wrote: »

Handy tool here:

http://www.whatsthecost.com/creditcard.aspx

Originally posted by never-in-doubt.

Regards
UNDERGROUND

Cheers mate - was looking for this link myself yesterday but cleaned all my fave's like a nuggat the other day! Cheers