How Do Credit Card Companies Charge Interest on Your Balance?
Posted by James Breen at 25 May 2008 1:35
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If you routinely carry credit card balances, one of the biggest drains on your wallet comes as interest charges. And as you pay down your balances, you have probably noticed that paying the minimum payment doesn't really do much in reducing how much you owe. This is because a large portion of your minimum payment actually goes to the interest charges your balance accrues. There are the three main ways that credit card companies figure your interest charges: average daily .. full article.
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