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When your credit card statement balance on your account for the period is added into and that you have at the interest from day 2 is added into the calculation.
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How Credit Card Interest Works (Credit Cards Part 2/3)The main interest rate is the purchase interest rate, which is charged on purchases you make with your credit card. Cash advance interest is charged when. Generally, interest rates on credit cards can range from around 18% to 29% or higher, depending on various factors such as the cardholder's creditworthiness. Interest on purchases?? If you pay off the whole amount (the balance) owed on the card by the due date, you will not be charged interest on your purchases. But.
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