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| Name | How Credit Card Interest Works (How To Calculate) |
| Video Uploader | Video From CreditCards.com |
| Upload Date | This Video Uploaded At 20-03-2021 09:00:09 |
| Video Discription | ➡ Best Credit Cards (Right Now) - https://www.creditcards.com/best-credit-cards/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk ➡ Try CardMatch - https://www.creditcards.com/cardmatch/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk Click "Show More" For Advertising Disclosure ▮▮▮▮ RELATED ARTICLES Full Article - How Does Credit Card Interest Work? https://www.creditcards.com/credit-card-news/how-credit-card-interest-works/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk Average Credit Card Interest Rate: https://www.creditcards.com/credit-card-news/rate-report/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk What Is A Good APR For A Credit Card? https://www.creditcards.com/credit-card-news/good-apr-interest-rate/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk How Credit Scores Affect Interest Rates / APR on Credit Card: https://www.creditcards.com/credit-card-news/credit-scores-interest-rates/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk What Is An Outstanding Balance on a Credit Card? https://www.creditcards.com/credit-card-news/outstanding-balance/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk Best Low Interest Credit Cards: https://www.creditcards.com/low-interest/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk Best No Annual Fee Credit Cards: https://www.creditcards.com/no-annual-fee/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk We discuss how credit card interest works. We go through the basics of credit cards and how the interest rate (otherwise known as APR, or annual percentage rate) works. The short story is that you have several inputs for calculating your interest. You need to have your average daily balance, interest rate (or APR), compounding period (most likely 365 or 360), number of days in a billing cycle. You figure out your periodic rate by taking your interest rate and dividing it by your compounding period. You take your periodic rate and multiply it by your average daily balance and number of days in the billing cycle to calculate your interest that month. Credit cards also have multiple different APRs. They have normal purchase APR, balance transfer APR, cash advance APR, and penalty APR. How Credit Card Interest Works (How To Calculate) ▮▮▮▮ ADVERTISER DISCLOSURE At CreditCards.com, we create honest, accurate, and objective content to help you make more informed decisions. To support our work, we are paid for providing advertising services. The compensation we receive and other factors may impact what ads and links appear on this page, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, this page does not include information about every product or service that may be available to you. And your actual offer terms from an advertiser may be different (e.g., subject to additional terms) than the offer terms on this page. All information is presented without any warranty or guarantee to you. For more information, please see our website. ▮▮▮▮ FIND US HERE Website: https://www.creditcards.com/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=bU4Q1yOkIMk Facebook: https://www.facebook.com/creditcards.com Twitter: https://twitter.com/creditcardscom Instagram: https://www.instagram.com/creditcardscom/ ▮▮▮▮ TIMESTAMPS • 0:00 - Intro • 0:41 - Elements of credit card interest • 1:41 - Calculating credit card interest • 2:36 - Types of APRs • 5:11 - Outro |
| Category | Education |
| Tags | credit card | credit cards | credit card interest | credit cards interest | how does credit card interest work | how to calculate credit card interest | credit card apr | credit card interest rate | credit card interest rates |
