Quarter-point interest rate calculator
When the Federal Reserve raises its benchmark federal funds rate, banks 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.) Then select the colored bar representing your balance to display the added interest costs on a monthly and annual basis.
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