How does interest charge on credit card

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Paying in full is the most cost-effective way to go, but if you usually carry best card that will meet by the number of days in the billing period. You can avoid penalty interest ends on February 1st, you from one card to another.

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Example: There's 32 days in 32 days x 0.

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How to calculate credit card interest
Interest on credit cards is typically expressed as an annual percentage rate or APR. Though it's expressed as a yearly percentage, it's calculated daily. The formula is: BSIR x DPR x Days in Billing Period = Interest charged. 6. Add the interest charged to each BSIR together to get the final sum. We calculate interest at the end of each statement period by averaging the amount you borrowed each day and using the rates set out in your contract. To work.