2
votes
2answers
539 views

What is the effective interest rate on a credit card that offers 0% interest with a 4% balance transfer fee?

I'm about to do a balance transfer that has a fee of 4%. It gives me 0% interest for 14 months. Is it just a straight calculation of 4% for the year or is there another calculation that I need to ...
6
votes
2answers
187 views

Help understanding credit card interest

I have a credit card with an outstanding balance and I am trying to work out when I will complete paying it off. It is a UK credit card (where I am based) and I do not spend on it. I pay 150 per ...
7
votes
3answers
966 views

Is interest of credit cards caculated based on the amount unpaid within the grace period?

From Wikipedia if a user had a $1,000 transaction and repaid it in full within this grace period, there would be no interest charged. If, however, even $1.00 of the total amount remained ...
12
votes
11answers
2k views

Should I pay off the credit cards now or do the monthly payments thing?

I have 3 credit cards with a total balance of about $36k. Two of the cards are at 2% and the last one is at 0%. With the current payment structure, I'll be debt free in 25 months. I recently came ...
4
votes
2answers
254 views

Calculating the most optimal way to pay off credit cards

I have 3 credit cards which I am slowly paying them off. Card# Balance Monthly Interest Months to pay of Minimum Payment at current rate Payment 1 ...
8
votes
2answers
852 views

Credit card interest calculator with grace period & different interest rate calculation methods?

Is there an (ideally online) credit card interest calculator that includes grace periods and lets you choose the interest calculation method (eg, "adjusted balance", "average daily balance", ...
4
votes
4answers
2k views

How to calculate credit card interest with respect to grace period transactions?

If my credit card currently has a $0 balance, and I make a transaction and pay it back within 25 days, I won't pay any interest, even if I had a balance and was paying interest previously. Is that ...