credit card issue??

so if i get a credit card, how does it work exactly??

i was thinking if i pay what i spent on the credit card i wont have any interest to pay right?? and if i keep doing this, i wont have to pay for any hidden fees and such? am i right or no?

2 Answers

Relevance
  • 1 decade ago
    Favorite Answer

    If you use your credit card and pay the whole balance right away, you won't be charged with interest, but some companies like Bank of America still charge you interest based on your balance. Make sure you do not pay late because they will increase your APR, so you pay higher interest and they will share that info with other credit companies who will charge you higher interest. The best I can advise, is not to use credit card. Make extra money, make planning and things you want to buy, then pay cash.

  • 1 decade ago

    Yes you are right. Every month you will get billed for your spendings and if you pay your balance in full every month you wont be charged interest. Most credit cards dont have monthly or annual fees.

Still have questions? Get your answers by asking now.