I got it 2 months ago and got 2 statements already, both with a balance of negative $15 because they gave me 15 for signing up. I just sold 2 items on ebay using it and what I wanna know is, when will they charge me interest, when I get my next statement, is it gonna have due what I used, or is the interest going to be on it already? Or do they charge interest if I don't pay it off when I get the statement?
2006-11-26 07:33:36 · 2 answers · asked by psxfff123 3 in Business & Finance ➔ Credit
It depends on your account. Some have a 30 day grace period in which interest is not charged if you pay it full by the due date. If yours doesn't it's charged from the time of purchase. The interest will show up on your statement, and you will have to pay it. You will have a minimum payment you can choose to pay though if you don't want to pay in full at this time. But it's always best to either pay it off or as much as you can to avoid the interest adding up on your next bill.
2006-11-26 07:42:30 · answer #1 · answered by bartman40467 4 · 0⤊ 0⤋
There will be interest on it. How much depends on the interest rate and the way it is calculated. ie, daily @ whatever % or whatever "grace" period you've got. Check the terms of the card for exact calculation.
2006-11-26 15:37:52 · answer #2 · answered by Tweet 5 · 0⤊ 0⤋