Hey there, guys.
As I'm sure some of you remember, my mother is now injured and jobless, which led me to having to over-extend myself and pay for some of her bills. Unfortunately, I'm also coming to the end of my intro APR (Dec 6th) for my Freedom, and I've got about 1200 left to pay off. I can currently make $200 payments at most, and I've already stopped using the card altogether to pay things down, so I've come to terms with the fact that I'll be paying interest. I'm trying to understand how interest will be calculated after my 0% ends.
From my understanding, the way in which interest is calculated is often on the statements. My recent statement says that the introductory APR (0%) applies to my full balance. It then says that my APR (22.99%) applies to $0. It doesn't say anything about needing to pay interest from my very first charge, and I haven't been able to find this in my cardmember agreement. However, it's my understanding that some cards do this.
Chase now does Blueprint with Freedom as well, so if they do do such a thing, I could pay off certain larger, older charges so that I don't need to pay interest on those, if that is the case. If you've ever held a balance beyond the 0% on the Freedom, I would love to know what happened. Did the non-introductory APR begin applying on the date after the 0% ran out, or did it apply to the date in which your card was opened? Any help with this wold be heavily appreciated. Thank you.
