Understanding the balance and APR...

[Anonymous]

Hello,

I am asking this question to have a better understanding of credit card balance and APR's. I am sure your replies will improve my understanding. 

I have Amazon store card, which I got 5 months ago. On last month statement, I did not carry a balance on it. Last day for minimum payment this month is 04/03/2017. Current balance is $547 and all purchases were made this month. My question is: "If I pay $100 before the last date, I will carry $447 balance on coming statement. Will this amount be subjected to APR after this month closing"? If No, when will it be subjected to APR?"

I would be grateful for your experienced replies. Thank you.

[Anonymous]

Yes after closing you should be charged interest on the amount not paid, some lenders will charge you based on your total balance which is weird but they do.

So the APR say it's 24% you'd divide that by 12 (q12 months) you'd get 2% so 2% interest per month would be about $9 in interest charges.