Personal Finance

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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