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There is interest, so you'd still be locked in the cycle. Just a little better off because they don't charge you $30-50 for paying late. But it appears they ar
by jclardy 8y ago
There is interest, so you'd still be locked in the cycle. Just a little better off because they don't charge you $30-50 for paying late.
But it appears they are much more forward on telling you how much interest you will be paying if you don't pay off the card.
- ddoolin 8y agoNot sure how this fits in, but she did mention there's no higher interest penalty for late payments.
- sf_rob 8y agoFrom their website: Variable APRs range from 13.24% to 24.24% based on creditworthiness. Rates as of March 2019
- nailer 8y agoSo a doubling time of about 5 to 3 years, for those who don't understand compound interest (which is most humans, hence credit cards being insanely profitable).
- rubyfan 8y agowow, is 13.24% considered good?
- justusthane 8y agoFor a credit card, yes. That's lower than any of the cards listed on NerdWallet's "Low Interest Credit Cards" page.
- pcurve 8y agoAT least in the video, they do charge you late fee. If you pay balance in full, there's no fee. But if you don't, then the minimum interest they charge is around $20.