How Do You Calculate Credit Card Interest
How does credit card interest work? When you use your credit card, you’re borrowing money from the credit card company with the option of repaying the entire borrowed amount by the due date on your statement or paying a minimum monthly payment with interest, which is added to the balance for as long as it remains unpaid. For every month that you don’t pay the total balance due, you must pay the minimum monthly payment, including the interest charge....