Quarter-point interest rate calculator


Now that the Federal Reserve has pushed up interest rates, banks will almost certainly follow suit by raising their prime rates.

If you carry a balance on a variable rate credit card, your interest cost will go up as a result.

To see how much a quarter-point increase in rates will cost, find your card balance, to within $100, using the slider bar on the chart below (up to $10,000.) Select the colored bar representing your balance to display the added interest costs on a monthly and annual basis.

See related: Fed raises interest rates for first time since 2006

Published: December 16, 2015

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Updated: 10-23-2016

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