I just realized I did not pay the full amount of my statement balance. I have a remaining of 477.43. Does interest only accumulate when I make a purchase with my credit card? Or how does this work. This has never happened to me before as I normally always pay it off.
Statement Balance Interest
byu/Best_Illustrator7346 inCreditCards
Posted by Best_Illustrator7346
2 Comments
If you didn’t pay of your balance in full by the due date you will be charged interest on the remaining balance. Sometimes you are still charged on the full balance, like the robinhood gold card
It’s normally charged on the average daily balance.
This interest is always calculated each month. But if you pay in full, it’s waived. Since you didn’t pay in full, it will NOT be waived.