Use your credit card balance and interest rate to see how much your interest charges would be for a month. Many or all of the products on this page are from partners who compensate us when you ...

The interest rate for a credit card is expressed as annual percentage rate. You can figure out the DPR by dividing the APR by 360 or 365, depending on the formula used by your credit card issuer.

Whether you regularly use a credit card or you save money in a high-yield savings account, it's important to note that the interest is compounded — meaning what you owe or earn can add up quickly.

Ben Woolsey is a full-time Associate Editorial Director at Investopedia, focusing on financial products and services. He has worked in marketing, operations, and content management roles for banks ...