Tuesday, January 3, 2012

Creditcard Minimum Payment?

I got a debit balance of $1300 for the month with a Minimum repayment of $35 at an interest rate of 18.25% p.a, I could pay it by the full amount but i m just wondering if i only pay the minimum amount or above minimum amount say $700, how much will I be charge on interest or late repayment fee?is it based on an daily interest charge? or only an set amount of late fee? or there will be no charge becasue i paid the minimum amount? Thank you for any answers:)

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