Financial Facts Friday: Credit Cards, Part 3; Credit Card Interest, Calculating It, and Paying…

Welcome to Financial Fact Friday!
Credit Cards: Part 3; Credit Card Interest, How to Calculate, and Pay Your Bill.

This is kind of a long one so hang in there with me!

Calculating your credit card interest involves for different factors:
1. Knowing the interest rate on your credit card.
2. Calculating the average daily balance.
3. Knowing the number of days in your billing period.
4. Knowing about your grace period.

There are websites that will help you calculate your daily interest since the compound interest math can get kind of complicated.

Come back next week if you want to learn about the difference between business and personal credit cards !

#creditcards #finances #sahm #wfh #compoundinterest