Question:

First time credit card user.?

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If I pay off my balance in full each month will I get an interest charge even on a zero balance? This has happened on my boyfriend's card before and I thought it was strange. Thanks

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  1. If you pay the balance in full each month, you shouldn't have any interest.   Your boyfriend may have had a cash advance which starts accruing interest immediately.  The grace period is for purchases only, not cash advances.


  2. Depends on how quickly you pay and what the interest grace period is.

  3. There should be no interest charge when paying in full ,unless you have a card like I had once that if you pay your bill in full there is an interest fee because they feel paying it off they can't make any money.I got rid of that card real fast, check to see if your boyfriend has that kind of card.

  4. No you shouldn't be charged any interest, since you are just starting out using credit you should also read this article on building your credit, http://www.monitorbankrates.com/how-to-b...

  5. It depends on the grace period.  many now are only 20 days, which means interest will acrue before you have a chance to pay it off when you get the bill.  Some use a double billing system..it gets complicated, but they charge you interest for a two month cycle even if you pay it off in one.  Your best bet is to charge something and pay it off right after.  or, wait no longer than 20 days and pay it online for faster payments.

  6. No, you won't get an interest charge if the balance is zero.

    What your bf may have had are usage charges or some other bizarre credit card charge.

    Read the fine print very carefully before opening any credit card. If you don't understand something call the card co. and have them explain it to you in detail.

  7. No interest is only payable on outstanding balances.

    Anything paid is full doesn't attract interest.

    If your boyfriend was charged interest even after he paid in full, he should dispute that with his credit card company.

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