Sunday, October 5, 2008

Credit Card Debt Interest.

Anyone know what is the interest charged by the credit card company when you don't pay in full for the month bill? In Singapore, it 24% per annum.

That means if you owed them $1000 after paying the min amt, you will have to pay them a interest $19.72. It going to compound till you pay off in full. Call the credit card company up and you will get the formula, as not all company will use the same formula.

So pls use the credit card wisely. Don't spend on things you can't afford and thinking that you can sign and pay by using next month salary.

1 comment:

Mike said...

Hi friend,
It is an important suggestion by you. It help me to inquire about my credit card debt interest.


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