Credit Card Payment Calculator

Businesses should consider using a business credit card. This financing option provides them with flexible capital for monthly costs in addition to perks like points and cash back. 

Before applying for a business credit card, utilize the Lendzero Business Credit Card payment calculator to see your monthly payments. Insert the information below:

• Requested credit card balance: The cap is at $100K.
• Interest rate: Rates for working capital loans provided by Lendzero’s partners begin at 1.00% but can be as high as 34.00%.
• Percentage of balance to be paid: For each payment, you’ll need to pay a portion of your credit card balance in addition to the interest that is owed. The portion will vary between 1-5%.

Use our Business Credit Card payment calculator to calculate the cost of your credit card.

Sample of How to Utilize the Business Credit Card Payment Calculator

For example, Tom’s Bakery wants a $100K credit card balance. Tom applies for the business credit card and receives approval for the $100K balance at an interest rate of 10% with 2% of balance to be paid.

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By entering Tom’s $100K credit card balance, 10% interest rate and 2% of balance to be paid into the Business Credit Card payment calculator, we can see Tom would need to pay the following minimum payment if he used up his full $100K balance:

• Amount per month: $2K
• Time period: 482 months
• Total interest paid: $71,117.14

If you like, you can change the settings from “Minimum payment” to “Fixed payment.” This will increase the monthly payment, however, it will reduce the time it will take to pay off the business credit card and the total amount of interest you will have paid to the credit card company.

The Business Credit Card payment calculator will show you the exact amount you’ll need to pay each month at minimum and provide you with the flexibility to see how long it would take you to pay off the credit card if you make higher payments than the minimum. 

The components of the Business Credit Card Calculator are below.

• Credit card balance: Total amount of debt you can owe to the credit card company.
• Interest rate: Proportion of the outstanding debt that is charged as interest to you shown as an annual percentage.
• Payment Calculation Method: This is the way your credit card payment is calculated
  Minimum Payment: Select this option to see the result of the payment calculation as a minimum payment
  Fixed Payment: Select this option to see your payment as a fixed monthly payment, then those chose your fixed payment by user the slider.