The following chart reflects the interest you would pay each year based on your average daily balance at various interest rates:
| $1,000 | $2,000 | $3,000 | $4,000 | $5,000 | $10,000 | |
| 5% | $50.00 | $100.00 | $150.00 | $200.00 | $250.00 | $500.00 |
| 6% | $60.00 | $120.00 | $180.00 | $240.00 | $300.00 | $600.00 |
| 7% | $70.00 | $140.00 | $210.00 | $280.00 | $350.00 | $700.00 |
| 8% | $80.00 | $160.00 | $240.00 | $320.00 | $400.00 | $800.00 |
| 9% | $90.00 | $180.00 | $270.00 | $360.00 | $450.00 | $900.00 |
| 10% | $100.00 | $200.00 | $300.00 | $400.00 | $500.00 | $1,000.00 |
| 11% | $110.00 | $220.00 | $330.00 | $440.00 | $550.00 | $1,100.00 |
| 12% | $120.00 | $240.00 | $360.00 | $480.00 | $600.00 | $1,200.00 |
| 13% | $130.00 | $260.00 | $390.00 | $520.00 | $650.00 | $1,300.00 |
| 14% | $140.00 | $280.00 | $420.00 | $560.00 | $700.00 | $1,400.00 |
| 15% | $150.00 | $300.00 | $450.00 | $600.00 | $750.00 | $1,500.00 |
| 16% | $160.00 | $320.00 | $480.00 | $640.00 | $800.00 | $1,600.00 |
| 17% | $170.00 | $340.00 | $510.00 | $680.00 | $850.00 | $1,700.00 |
| 18% | $180.00 | $360.00 | $540.00 | $720.00 | $900.00 | $1,800.00 |
| 19% | $190.00 | $380.00 | $570.00 | $760.00 | $950.00 | $1,900.00 |
| 20% | $200.00 | $400.00 | $600.00 | $800.00 | $1000.00 | $2,000.00 |
Consider this:
If you have a $5,000.00 balance on your credit card that charges 15% interest and only make the minimum payment (typically 2% of the balance), you would pay $7,700.00 in interest and it would take you 32 years to pay the card off!