Hi,
If I get a Chase freedom credit card, $0 annual fee, and I pay the credit bill in full each month, do I never pay one cent more than I actually spend, regardless of APRs?
Thanks.
2007-06-03 10:10:24 · 9 answers · asked by blcklabelx 1 in Business & Finance ➔ Credit
That's what I expect.
2007-06-03 10:14:46 · answer #1 · answered by Zeera 7 · 0⤊ 0⤋
This is common practice anymore, in fact, if your credit card company charges you a fee, or interest when and if you pay in full every month on time, get another company.
These credit card outfits make money even if you never pay interest or carrying charges, because they usually get about % 3 from the retailer for each purchase.
The "APR" is only when you make partial payments each month instead of in full.
2007-06-03 10:17:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Carrying a balance doesn't build more credit than paying in full. It just means you waste money on interest. Keep using that card and paying in full every month. That's the best way to build a good payment history, avoid interest, and stay out of debt.
2016-05-20 04:04:42 · answer #3 · answered by rene 3 · 0⤊ 0⤋
Technically you shouldn't. But make SURE that that $0 annual fee is good forever, not just the first year. Also there may be a fee associated with taking cash out against your card.
Having a credit card is a good thing, but I would make a suggestion to you. Don't carry your card around with you, just because. Take it only when you decide you are going to make a specific purchase (i.e. don't take your card to the mall to do some "shopping". Take your card to the mall because you are going to buy the $XX pair of sneakers that you need).
That way, you will never find yourself using your card for impulse purchases.
2007-06-03 10:19:42 · answer #4 · answered by joseygirl 4 · 0⤊ 0⤋
If the annual fee is $0, and if you pay it in full each month, you pay nothing.
2007-06-03 10:25:36 · answer #5 · answered by cidyah 7 · 0⤊ 0⤋
You shouldn't get charged any extra if you pay the balance in full before the next billing date.
2007-06-03 10:18:45 · answer #6 · answered by Cathy 2 · 0⤊ 0⤋
On any credit card I've ever known of, if you pay the statement balance in full by the due date, you don't pay any interest, so yes you'd just pay what you spent.
2007-06-03 10:47:39 · answer #7 · answered by Judy 7 · 0⤊ 0⤋
The APRs apply only to the people that pay only their minimums and have their balances carry forward each month.
2007-06-03 10:29:47 · answer #8 · answered by Anonymous · 0⤊ 0⤋
as long as you pay it off in full before the billing period ends
2007-06-03 10:15:10 · answer #9 · answered by rtharp8 3 · 0⤊ 0⤋