How to Calculate Credit Card Fees Into APR
- 1). Divide the credit card fees by your outstanding balance. For example, if you get charged $57 on a balance of $3,800, you would divide $57 by $3,800 to get 0.015.
- 2). Divide the result from step 1 by the number of days in your credit card billing statement. Your credit card company can tell you the number of days in the billing cycle. Continuing the example, if you had 30 days in the billing cycle, you would divide 0.015 by 30 to get 0.0005.
- 3). Multiply the result from Step 2 by 365 to calculate the APR for your credit card. Furthering the example, you would multiply 0.0005 by 365 to find your credit card APR expressed as a decimal equals 0.1825.
- 4). Multiply your APR expressed as a decimal by 100 to convert it to a percentage. Finishing the example, you would multiply 0.1825 by 100 to get 18.25 percent.