Say I have a credit card, and I carry a balance of $200 from my statement at the end of the month of June. Are all transactions from the month of July immediately added to the revolving balance and included in the daily-balance (or average-daily-balance) interest calculations? Or do the balance of the July transactions also have to get carried into August and then they are added into the revolving-balance and included in APR calculations?
To state this question another way, do you start paying daily periodic rate on ALL future transactions immediately following a carried balance up until the point that you've completely paid down the revolving balance? Or do all future transactions also have to be carried past their billing cycle to be added to the revolving balance?
Once you've "fallen of the wagon," as said here: How to understand the calculation of interest for credit cards?