Credit Card Forum
  1. #1
    vjdj4
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    Default If I pay my credit card in full every month do I pay interest?

    Hello all,

    I am new to this forum as well as to credit card terms. I am slightly confused with the term APR. If I always pay my credit card bill on time and in full every month, will I be charged interest for the purchases I make through the credit card?
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    Reply With Quote Reply With Quote     Jan 12, 12, 1:29 am
  2. #2
    jeffysdad
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    No, not as long as your card offers a grace period, usually 20-25 days, as most all of them do.
    CARDS (and why)
    FIA Card Services: Fidelity Amex (best cash back excepting 5% cards), Fidelity Visa (spare)
    Chase: Freedom (only for 5% reward categories, purchases under $10), Sapphire (not in use), Amazon Rewards (for Amazon purchases only)
    CapitalOne: No Hassle Rewards (no foreign transaction fee, my only MasterCard, not in use)
    Amex: Blue Cash Everyday (not in use)
    Discover: More (only for 5% reward categories)
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    Reply With Quote Reply With Quote     Jan 12, 12, 4:04 pm
  3. #3
    JohnB222
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    You do not pay a dime in interest, as long as you pay your balance off in full by due date.
    Amex Blue Cash Everyday - 15k CL | Chase Sapphire Preferred - 8k CL

    PenFed Platinum Rewards - 8k CL | Chase Freedom - 5k CL
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    Reply With Quote Reply With Quote     Jan 12, 12, 4:57 pm
  4. #4
    SigmaInigma
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    When you say balance is that the last statement balance or the current balance?
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    Reply With Quote Reply With Quote     Feb 14, 12, 10:35 am
  5. #5
    jeffysdad
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    It's the last statement balance. If you do not have a grace period, the amount that is above the last statement balance would be subject to interest. That is why it is important to have a grace period.
    CARDS (and why)
    FIA Card Services: Fidelity Amex (best cash back excepting 5% cards), Fidelity Visa (spare)
    Chase: Freedom (only for 5% reward categories, purchases under $10), Sapphire (not in use), Amazon Rewards (for Amazon purchases only)
    CapitalOne: No Hassle Rewards (no foreign transaction fee, my only MasterCard, not in use)
    Amex: Blue Cash Everyday (not in use)
    Discover: More (only for 5% reward categories)
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote     Feb 14, 12, 11:42 am
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