how credit card interest works. Specially when you continue to use the card.

Question

If someone keeps using the card without the entire balance being paid off, is interest calculated on the whole amount?

In: Mathematics

Answer 1

interest is applied to whatever balance exists at the end of the billing cycle…..

so if you put $10/day on the card and pay off 10/day you wont have any interest applied

if you put 10/day on the card and pay off everything on the last day of the cycle you wont have any interest applied

if you 10/day on the card and only pay 1/2 on the last day……youll be charged interest on the balance…….and next month you start with **what you didnt pay + interest**