myFICO: Save Money by Understanding How Credit Card Interest Works
However, credit cards often have high interest rates, so in this article myFICO presents when and how credit cards charge interest, which can be important for managing your finances.
- However, credit cards often have high interest rates, so in this article myFICO presents when and how credit cards charge interest, which can be important for managing your finances.
- One of the most important things to remember about credit card interest is that it only accrues on your purchases when you revolve a balance.
- This might be a good strategy that helps you save money and get out of credit card debt sooner.
- The timing of credit card bills and the daily interest accrual can also lead to residual or trailing interest — when interest accrues between the arrival of your statement and your bill's due date.