cr card cash w/d problem

B

billyco100

Guest
hi,

i have taken 1,000 euro from an atm from my cr card. my cash w/d interest rate is 19.2%.
How does this work? will i have to pay eur192.00 ea month until its paid??


Any help please??

billyco
 
it would be 16€ per month and i think you have clear this interest every month as part of minimum payment to avoid additional charges... Also, if you start clearing it in parts, CC companies will first clear the amounts that are on lower interest rate....
 
If you're in a position to pay the amount off before your next Due Date and clear your balance on your last CC statement, then you'll have little or maybe even no interest to pay, depending on the company.
 
The 19% applies to the amount you owe. If you pay off your credit card before the 1st issue date of the bill no interest will apply. If however you pay it off in the minimum amount due installments to the end, it will come to the 19.2%.
 
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