When owning a credit card, does interest always apply reguardless of when you pay your bill?

Question

For example, if i get a credit card, and i pay my bill withing lets say fifteen days, am i going to have to pay interest or is that only if i wait thirty days.

Answer 1

as long as you pay your statement in full before the due day...there is no interest.

Answer 2

If you have a balance, you will always pay interest on new purchases.

If you don't have a balance, it depends on the rules of the issuing bank if you will get charged interest or not.

Most banks give a grace period when making new purchases when you don't have a balance.  However, some banks charge interest from the minute you make the purchase.

Answer 3

If you pay the whole balance off within 30 days you will not have to pay any interest.

Answer 4

The interest goes on those 15 days, so you will always have to pay some interest on the money you spend on that credit card.

Answer 5

As long as you pay your bill by or before the due date in full, you will not be paying any interest.  That is why it is good for people to get a CC and charge minimal monthly expenses on it, pay it off in full by the due date and it will build their credit, plus if you have a Rewards card you can earn cool things meanwhile! ~ The only exception to this is Cash Advances, then you will pay a fee for that service no matter when you pay it off, plus a higher Interest rate if you don't pay it off in full.

For more specifics pertaining to your card, call the customer service line!

Good Luck!

Answer 6

Interest is only applied to any amount left on the balance after the monthly usage.