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Forum Credit Card How does interest rates work in a credit card?

Forum Credit Card How does interest rates work in a credit card?

Forum Credit Card How does interest...

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  • #1172
  • #1509
    M
    MoneySmart.sg
    Keymaster

    Posts: 156

    Joined: Mar 19, 2014

    Expert

    Hi Peter,

    Interest is charged on the outstanding balance you carry on the bill, so if you get charged that month and pay in full (before the due date or risk being charged late fees) then you don’t pay any interest.

    However, if you can’t pay the full amount on your bill, do pay what you can, over the minimum amount, so you take less time to pay off the amount and save on interest over time.

    Hope this helps!

    • #3291
      H
      Honciu Constantin
      Participant

      Posts: 33

      Joined: Oct 02, 2017

      Beginner

      My name is Honciu Constantin,I am writing to let you know about our Financial service. You might be interested in our service and would like you to know more about our offer and in ways we can benefit both parties. I would like you to propose your visualization to the most suitable solution for the requirement needed. We are eager to indicate the scope of work if possible. We look forward to your response and hope we can cooperate together as we have an offer you will most likely be interested in. For more inquiries contactbroker.honciuconstantin@gmail.com
      Best Regards,
      Honciu Constantin

  • #3280
    AD
    ankitadixit
    Participant

    Posts: 11

    Joined: Sep 16, 2017

    Beginner

    To calculate credit card interest you will require knowing your monthly credit card interest rate. To determine your monthly interest rate, you simply divide your APR by 12, the number of months in a year.

    • #3293
      H
      Honciu Constantin
      Participant

      Posts: 33

      Joined: Oct 02, 2017

      Beginner

      My name is Honciu Constantin,I am writing to let you know about our Financial service. You might be interested in our service and would like you to know more about our offer and in ways we can benefit both parties. I would like you to propose your visualization to the most suitable solution for the requirement needed. We are eager to indicate the scope of work if possible. We look forward to your response and hope we can cooperate together as we have an offer you will most likely be interested in. For more inquiries contact broker.honciuconstantin@gmail.com
      Best Regards,
      Honciu Constantin

  • #3328
    ID
    IpayDna
    Participant

    Posts: 1

    Joined: Sep 13, 2017

    Beginner

    Credit card is needed in our day-to-day lives. To calculate the interest of the credit card, you can convert your APR to a daily percentage rate. To do so, divide your APR by 365, the number of days in a year. At the end of each day, the card issuer will multiply your current balance by the daily rate to come up with the daily interest charge.If a card holder fails to pay the entire statement balance, or does not make the payment in time, the cardholder has forfeited his or her grace period, and the interest charges will typically appear on the next statement. But cardholders should always check their card member agreement for details specific to their account.To know more about interest of credit card, Our agency, Ipaydna has provided the all the informations and people get benefits by using the credit card.

    • This reply was modified 04 October 2017 by  IpayDna.
    • #3330
      H
      Honciu Constantin
      Participant

      Posts: 33

      Joined: Oct 02, 2017

      Beginner

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      DESCRIPTION OF INSTRUMENTS:
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