Compare Inputs
Example Data Table
| Example card | Purchase APR | Intro APR | Intro months | Annual fee | Foreign fee | Rewards |
|---|---|---|---|---|---|---|
| Low-fee Cashback | 22.99% | 0% | 12 | $0 | 3% | 1.5% |
| Travel Rewards | 20.99% | 0% | 15 | $95 | 0% | 2.0% |
| Balance Transfer Focus | 26.99% | 0% | 0 | $0 | 3% | 1.0% |
Formula Used
- Monthly rate: r = (APR ÷ 100) ÷ 12
- Monthly interest: interest = balance × r
- Balance update: new balance = old balance + purchases + fees + interest − payment
- Rewards: rewards = purchases × (rewards rate ÷ 100)
- Net cost: net cost = total interest + total fees − total rewards
How to Use This Calculator
- Enter your comparison period, spending, and any existing balance.
- Choose a payment mode that matches your real behavior.
- Fill each card’s APR, fees, and rewards from disclosures.
- Optional: add a balance transfer amount and month.
- Press “Compare Cards” to view totals and a recommendation.
- Use the download buttons to save results as CSV or PDF.
FAQs
1) What does net cost represent?
Net cost combines modeled interest and fees, then subtracts rewards earned on purchases. A lower net cost means the card is cheaper under your inputs.
2) Why can rewards be larger than costs?
If you pay in full or carry little balance, interest can be near zero while rewards still accrue. In that case, the model can show a negative net cost.
3) How is interest calculated here?
Each month uses a simple rate: APR divided by 12. Interest is applied to the current balance in each bucket (purchase promo, regular purchases, transfers).
4) What if I always pay the statement balance?
Enable “Pay in full each month.” The model clears balances monthly and shows fees and rewards only. This is best for comparing annual fees and reward rates.
5) How does the calculator apply payments?
It pays the highest APR balance first, then lower APR buckets. This approach generally reduces interest compared with paying lower APR balances first.
6) Does it include approval odds or credit score impact?
No. It compares costs using the terms you enter. Approval, credit limits, and score impacts depend on the issuer and your credit profile.
7) Can I model balance transfer offers?
Yes. Enter a transfer amount, the month it happens, the transfer promo APR, duration, and transfer fee. After promo months, transfers revert to the purchase APR in this model.
8) Why might my statement totals differ?
Real statements can include daily compounding, grace period loss when carrying balance, category‑based rewards, and timing differences. Use this as a planning estimate, not an exact bill forecast.