Credit Card Questions (Experienced Only)

[15-PSI]

Everybody's answers to my questions are looked at and greatly appreciated! Love the information, please give me as much as you guys can it's really helping me and I really understand how this whole process works. Also just to confirm Annual APR of 22.9% = Cut up into 12 months(obviously) but that cut up % is at the end of each billing statement along with anything balance you have or fees ect..

[Scupra]

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@15-PSI wrote:

Everybody's answers to my questions are looked at and greatly appreciated! Love the information, please give me as much as you guys can it's really helping me and I really understand how this whole process works. Also just to confirm Annual APR of 22.9% = Cut up into 12 months(obviously) but that cut up % is at the end of each billing statement along with anything balance you have or fees ect..

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Someone please step in if I am wrong but..credit card companies usually are charging a daily interest based off your balance. So it would actually be more like APR / 365 = daily interest

[09Lexie]

Please refer to your T&Cs for how your interest is calculated. If your card has not arrived yet and you want to gather the information beforehand, I would suggest reviewing those terms online for the card in question.

Most lenders charge interest on your daily balance , if you never 'carry' a balance then you will not be charged interest.