ECON Credit card rate

[willowlady]

Question: If you pay it off every month are you being charged any interest? I understand some of the cards these days do so from the time of purchase.....

That depends on your card. Our major-use credit card only requires you pay off the prior month's balance and no interest gets charged. So we do that, and get to use the banks money free for about four weeks (feels good), plus we get cash back on purchases. We no longer use Home Depot or Lowe's cards, since they charge interest from the date of purchase no matter what. I suspect most retail cards are like that.

 

[scooter123]

Anyone know what the Mafia charges?

 

[20Gauge]

That depends on your card. Our major-use credit card only requires you pay off the prior month's balance and no interest gets charged. So we do that, and get to use the banks money free for about four weeks (feels good), plus we get cash back on purchases. We no longer use Home Depot or Lowe's cards, since they charge interest from the date of purchase no matter what. I suspect most retail cards are like that.

That is what I thought as we pay no interest and we pay weekly