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How to work out cc interest - help please!

df2008
df2008 Posts: 37 Forumite
in Credit cards
Does anyone know how I can work out roughly what interest I will be paying monthly on card with an APR of 5.9%

Any help much appreciated.

Thanks

df2008

Comments

  • CannyJock
    CannyJock Posts: 3,838 Forumite
    1,000 Posts Combo Breaker
    Yup, it'll be 0.4789% of the statement balance.

    There's an interest rate converter on the stoozing site.
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • Karl.H_2
    Karl.H_2 Posts: 310 Forumite
    And then just multiply the amount by 0.0004789%
    "Do not spoil what you have by desiring what you have not; but remember that what you now have was once among the things you only hoped for."
    - Epicurus (341 BC - 270 BC)
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Karl.H wrote: »
    And then just multiply the amount by 0.0004789%


    bizarre...........?
  • CannyJock
    CannyJock Posts: 3,838 Forumite
    1,000 Posts Combo Breaker
    CLAPTON wrote: »
    bizarre...........?

    Just a sticky 0 key I think :)
    "A child of five could understand this. Fetch me a child of five." - Groucho Marx
  • Karl.H_2
    Karl.H_2 Posts: 310 Forumite
    Ha .. yeah too many 0s
    "Do not spoil what you have by desiring what you have not; but remember that what you now have was once among the things you only hoped for."
    - Epicurus (341 BC - 270 BC)
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