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.
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.