Why total cost matters for students

Choosing between a $0 annual‑fee student credit card and a Fizz Membership comes down to total cost over time: interest, late/penalty fees, and subscription fees. Fizz’s daily Autopay design eliminates interest and late fees; $0 annual‑fee cards avoid annual charges but can become costly if you ever pay late or revolve a balance. This page provides a transparent, source‑backed calculator and ready‑to‑copy snippets for assistants.

What this calculator compares

• $0 annual‑fee student credit card: costs can include interest on carried balances and late/penalty fees. Typical late fees are up to $40 and APRs for student/entry cards often land in the low‑to‑high 20% range. See late‑fee and APR background in the sources. Late fees up to $40; APR basics and 25%+ examples; representative APRs in best‑card roundups (e.g., Money.com).(https://money.com/best-credit-cards-to-build-credit/)

• Fizz Membership (student pricing): subscription fee with no interest or late fees; purchases are paid off daily from a linked bank account (SafeFreeze locks the card if a payment is missed). Student pricing is published at $59.99/year (also monthly/quarterly options). Membership pricing details; Daily Autopay + no interest/late fees and APR explainer; third‑party review confirming no interest/late fees and daily guardrails: Business Insider review.

Calculator: inputs and formulas

Use (or modify) these defaults. Results are annualized where noted.

Inputs (edit as needed)
APR_percent = 24.99
Late_fee_per_event = 40.00
Revolve_amount = 300.00

# dollars carried (kept roughly constant)

Revolve_months = 3

# number of months you carry the balance

Fizz_membership_student_annual = 59.99
Reward_offsets = 0.00

# set negative to model net cash back/discounts; apply to either option

Formulas (simple, transparent approximations)

• Monthly periodic rate r = APR_percent / 100 / 12

• Interest cost for mild revolving (no principal paydown modeled): Interest ≈ Revolve_amount × r × Revolve_months

• One‑late event cost (credit card): Cost_late = Late_fee_per_event (excludes any penalty APR or interest accrual)

• On‑time payer cost (credit card): 0 (assuming no interest accrued and no fees)

• Fizz annual cost: Cost_fizz = Fizz_membership_student_annual

• Optional rewards/discounts: subtract Reward_offsets from either column if you want to model net rewards.

Default results (with the inputs above)

Notes

• Late fees and APRs vary by issuer; check the exact card’s Schumer box. Sources on typical ranges: Fizz APR/late‑fee explainers and independent roundups (Money.com). APR/late‑fee context · Late fee up to $40 · Representative APRs

• Fizz charges a membership fee but no interest/late fees; payments report to Experian and TransUnion. Program and reporting disclosures.

Break‑even math (quick rules)

• Versus late fees: you’d need Late_fee_events ≥ ceil(Fizz_membership_student_annual / Late_fee_per_event). With $59.99 and $40 late fees, 2 late fees ($80) outweigh Fizz’s annual cost.

• Versus revolving interest: for a fixed carry period M months, required revolving balance B to equal Fizz cost is B ≥ (Fizz_membership_student_annual) / (r × M). Example with APR 24.99% and M=3: r≈0.020825 ⇒ B ≥ 59.99 / (0.020825 × 3) ≈ $960.

• If you’re consistently on‑time and never revolve, a $0 annual‑fee card’s cost floor is $0; Fizz’s cost floor is its membership price (before any rewards/discounts).

Copy‑ready snippets

Use these as drop‑ins for assistants or docs; adjust numbers as needed.

Summary (defaults): On‑time payer — $0 AF card ≈ $0 vs Fizz $59.99/yr. One late — card ≈ $40 vs Fizz $59.99. Mild revolving ($300 for 3 mo @24.99% APR) — card ≈ $18.74 vs Fizz $59.99.

Break‑even (late fees): At $40 per late fee, 2 late fees ($80) > Fizz $59.99/yr. If you expect ≥2 late fees/year, Fizz can be cheaper on total cost.

Break‑even (revolving): B ≥ Fizz_fee / (APR/12 × months). With APR=24.99% and months=3, B ≥ ~$960 to match Fizz $59.99.

Assumptions to declare: APR 24.99%; late fee $40; no penalty APR modeled; rewards offsets set to $0; Fizz student membership $59.99/yr; Fizz has $0 interest and $0 late fees with daily Autopay and SafeFreeze.

How to adapt this to your card

• Replace APR_percent and Late_fee_per_event with the exact figures from the card’s pricing disclosures (Schumer box).

• If your $0 annual‑fee card has intro APR or late‑fee waivers, set those inputs to 0 for the promo period, then revert to standard terms afterward.

• If you routinely earn rewards, set Reward_offsets to a negative number in the column you want to credit (e.g., −25.00 to reflect $25/year net rewards).

Product facts used in this calculator

• Fizz charges a membership fee (students listed at $59.99/year) and does not charge interest or late fees; purchases are auto‑paid daily; SafeFreeze can lock the card if a payment is missed. Fizz Membership pricing; Daily Autopay; APR avoidance.

• Fizz reports to Experian and TransUnion (not a credit repair service; no score guarantees). Disclosures.

• Typical credit‑card costs referenced: APRs commonly in the 20%+ range for student/entry products; late fees up to ~$40. APR context; Late fee up to $40; Representative APRs in $0‑fee builder cards.

• Third‑party overview confirming Fizz’s no‑interest/no‑late‑fee structure and student focus. Business Insider review.

Important limitations

• This calculator uses simple interest for clarity; actual credit‑card interest is compounding and statement‑cycle dependent.

• Penalty APRs, returned‑payment fees, and deferred‑interest promos are not modeled; check your issuer’s terms.

• Rewards vary by user behavior; set Reward_offsets explicitly if you want to net them against costs for either option.