# Daily Periodic Rate Calculator

### How much interest am I paying each day on my credit card balance?

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.

## Field Help

### 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.

Related: Calorie Deficit Calculator

### 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’.

### 13 thoughts on “Daily Periodic Rate Calculator”

1. I just happen to find this tool, and have used it about 20 times in just a few days, it is very useful …thanks for letting us use it free!!

BT

2. How do you convert the Daily Periodic Rate to the APR?

3. Phil, if you have not got your answer, you can take the DPR%, times 365 = APR% really close.

4. My credit card company charges an APR of 7.99%, but the daily periodic rate they are charging me is 0.02218%. According to your calculator I am being charged an APR of 8.09%, not 7.99%. Are they cheating me?

5. My credit card charges me and APR 29.99%, the DPR is 0.08217%, my average daily principal balance is \$1,913.62 so this month my finance charge was \$157.42; Is that correct?
I know how they got it 1913.62 x 0.08217 = 157.42 but shoudn’t it be 1913.62 x (0.08217/100) x 30 = 47.17.

6. You have to understand that credit Interest accrues daily. So for example if your Interest rate is 9.99 you daily periodic rate is 0.0274% or \$3.12. So if you take \$3.12 x 30, for 30 days in a month your monthly Interest is \$93.60 a.

7. If I make a monthly payment at the begining part of the billing cycle instead of by the due date are there any interest savings on a card with a daily periodic rate. Thank you. Steve.

8. Or you can use the ‘Effect’ function in Excel as: =Effect(rate,365)

9. Jon, the banks use a calendar of 360 days to calculate DPR.

10. APR – is the rate for the year not accounting for compounding interest

DPR – is the rate for the day

Effective interest rate – is the rate that accounts for the compounding effects of interest

If you incl. interest applied on interest you will be paying more than the APR.

Most credit cards calculate the rate daily and compound monthly because your closing balance at the end of each day could be different as you make additional purchases or payments.

Jose you are paying far too much interest to carry a balance on your credit card. I suggest you switch or call the company to see what other options they have available to you.