Carrying $10,000 on a Credit Card? Here’s What a Year of Interest Can Cost

A $10,000 credit card balance can generate thousands of dollars in interest over a year at a high APR, especially when the balance stays near the original amount – Shutterstock

Carrying a $10,000 credit card balance for a year can cost thousands of dollars in interest, even if the cardholder never adds another purchase. The exact amount depends on the card’s APR, payment schedule, and how the issuer calculates interest.

That makes a $10,000 balance more than a debt of $10,000. It becomes a running expense that keeps charging for the privilege of leaving the balance unpaid. The longer the balance hangs around, the more room interest gets to work.