For example.. If i buy something for $25. When I recieve my bill at the end of the month, do I only have to pay the $25? OR is the interest added on already everytime i use it? OR do you get the chance to pay off the $25, THEN if you don't pay it off the interest is then added on. I'm very confused by it.
2007-02-18 13:06:25 · 4 answers · asked by kryskrys123 1 in Business & Finance ➔ Credit
As long as you pay off the full $25 when the bill is due, you only owe the $25. If you only pay part of it, then you get charged interest on the unpaid portion.
2007-02-18 13:15:02 · answer #1 · answered by Bakem 3 · 0⤊ 0⤋
That depends on credit card agreement. Some accrue interest at the time your purchases are posted, some have a minimum interest charge, and some have no interest or fees if you pay your balance in full before the due date.
2007-02-18 21:18:01 · answer #2 · answered by Ti 7 · 0⤊ 0⤋
they add your interest based on your balance at your billing cycle. you will have interest
2007-02-18 21:22:49 · answer #3 · answered by JEANNE B 3 · 0⤊ 0⤋
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2007-02-18 22:19:08 · answer #4 · answered by creditcard 1 · 0⤊ 0⤋