How does credit card interest rate work?
Written By: admin on December 20, 2009
One Comment
I have always paid off my credit card balances in full every month, but on the next billing statement I won’t be able to. My current balance is ,413. My credit card interest rate is 14.49%. Is it right that I will be charged interest on my full balance even if I pay half the balance? I called my credit card company and the rep said yes, but I don’t reckon she was very knowledgeable.
STOP IT WITH ALL THE SPAM YOU JERK OFFS!
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Tags: billing statement, credit card balances, credit card company, credit card interest, Credit Cards, interest rate, jerk offs, spamTags: billing statement, credit card balances, credit card company, credit card interest, interest rate, jerk offs, spam
The cc will charge you interest next month (i.e. after they learn you did not send in the full payment) for each buy from the day of buy until you paid them some money. Then they will charge you interest on the balance [ $706.50 ] for the whole month until the next billing cycle, plus interest on each new buy from time of buy until cut-off date (and then go to first line). They usually use a daily balance average and charge interest daily. So your answer is sort of yes, sort of no.