Credit card interest and minimum payment
Date: Sun, 08/26/2007 - 22:30
I am hearing various things about credit card payments, can you help me understand about it. I have following queries:
1) What are minimum payments and total due?
2) If they say that they will charge 10%, what does that mean? Is it monthly or annualy?
3) Also I heard that they have some hidden fees and tricky interest formulas, what are these and how can I learn about it?
Thanks,
Marcus
1) What are minimum payments and total due?
2) If they say that they will charge 10%, what does that mean? Is it monthly or annualy?
3) Also I heard that they have some hidden fees and tricky interest formulas, what are these and how can I learn about it?
Thanks,
Marcus
Welcome...I am sure someone with more experience in credit card
Welcome...I am sure someone with more experience in credit card debt will be along soon...however the amount of your minumum payment and the total due will depend on what company the card is from, what interest rate they are charging and how much you owe.
