You can pay the balance every month, in order to avoid interest charges or you can carry a balance from one month to another, if you need to, but keep in mind that if you carry a balance beyond your grace period, interest will begin to accrue on that existing balance as well as any new purchases that you make thereafter. You will have to pay your bill in full for two consecutive months to regain your grace period and stop interest charges. You can learn more about how credit card interest works at: http://wallethub.com/edu/how-credit-card-interest-works/25789/ . Hope this helps. Best of luck!
Well yeah, as long as you have a balance on it. If you don't pay off your debt completely, it'll rollover to the next month, and you'll have a minimum amount to pay.
Moral of the story: try and not let it get to that point. Pay off your debt, and you won't need to worry about interest charges, or fees or anything.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.