5 ms·
The interest rate on my credit cards was higher then the effective 24-ish percent interest rate I was paying (2% per month).
by devoutsalsa 5y ago
The interest rate on my credit cards was higher then the effective 24-ish percent interest rate I was paying (2% per month).
- CaveTech 5y agoIf you repay your card at the end of the billing period you do not incur interest. I ask this because if you were truthfully resetting to a $0 balance, your credit card was free. This is a common misconception.
- devoutsalsa 5y agoI didn’t have enough money to pay it off and keep it paid off. That probably wasn’t clear. I’d get paid and have to choose between paying off the debt and paying rent. The reason I would take the account to zero and then overdraw again was that the account would be closed if overdrawn for longer than 30 days.