Monthly bills
See what one month of a rate you type does to a balance
One turn of the balance
A balance can move in a single month when you supply the percent and the payment.
- Calculated from what you enter
- About 2 minutes
- Easy
The short version
- For someone who wants one month of arithmetic on a balance.
- It uses only the balance, percent, and payment you type.
The moment
A balance, a percent, and a payment are three numbers you can hold at once. One month is enough to see whether the payment covers the interest you typed.
After this, you can see one month of interest and the balance that follows, from numbers you type.
Your guess first
These numbers are made up. On a $200 balance at 1.5 percent for the month, what is the interest before any payment?
Made-up balance
$200
at 1.5 percent for one month
The turn
1.5 percent of the made-up $200 is $3.00. A $20 payment leaves $183. A $2 payment does not cover the $3, so the balance becomes $201.
Why the number hides
Statements are long. One month is a small slice you can check with a pencil. The percent on this page is the one you type, not a rate looked up from a card company.
Now run your own numbers
See what one month of a rate you type does to a balance
The answer there is free. Not on sale yet: one optional pass for the whole site, pay what you can, for a dispute letter, a heating-aid checklist, and cancellation scripts.
Do this next
- Read the balance you want to use.
- Type the monthly percent from your paper, or one you are trying.
- Type the payment you want to test.
- Read the interest and the balance after.
- Stop there. This is one month, not a plan.
Who this will not work for
- A full payoff date.
- A promise that a creditor will accept a payment.
- Any fee you did not type.
A pitfall
A real month can add a fee this page never saw. If the result matters, compare it with the statement or ask the creditor.
How this was calculated
Interest this month = balance times the monthly percent you type, rounded to the nearest cent. Balance after = balance plus interest minus payment.
This is arithmetic on the numbers you type. It is one month only. It is not a payoff plan and not credit advice. Questions about a balance go to the creditor, or to a nonprofit credit counselor you choose. This page does not say what you owe.