{"id":17134,"date":"2023-02-03T09:21:30","date_gmt":"2023-02-03T01:21:30","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=17134"},"modified":"2023-02-03T15:23:07","modified_gmt":"2023-02-03T07:23:07","slug":"how-to-win-against-credit-card-interest-charges","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/how-to-win-against-credit-card-interest-charges","title":{"rendered":"How To Win Against Credit Card Interest Charges"},"content":{"rendered":"

There are several important considerations when it comes to credit card interest rates that you should know before you start charging up your year-end shopping spree on your credit card.<\/p>\n

The interest rate is the annual cost of borrowing money, usually on a credit card or loan. Interest rates are also known as an annual percentage rate or APR.<\/p>\n

This infographic explains what interest rate is, and what it means to your credit card outstanding balance<\/a>. It is not at all simple or straightforward for the uninitiated.<\/p>\n

We have outlined these quick tips in the infographic:<\/p>\n

    \n
  1. How interest charges work<\/li>\n
  2. How to avoid interest charges<\/li>\n
  3. How banks charge for overdue or late payments<\/li>\n
  4. What happens when you just pay the minimum each month<\/li>\n<\/ol>\n

    Make sure you understand how your credit card interest charges work so don’t miss a single payment, avoid late or missing payments and don’t just pay the minimum amount each month!<\/p>\n

    If you keep to these golden rules, you will not need to fall into the credit card trap that everyone else talks about.<\/p>\n

    This article was first published in 2015 and has been updated for freshness, accuracy and comprehensiveness.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    Follow these golden rules to avoid falling into the credit card interest trap.<\/p>\n","protected":false},"author":1,"featured_media":55509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11,227,31,229],"tags":[754,341],"class_list":["post-17134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cards","category-credit-card","category-infographic","category-interest-rate","tag-credit-card","tag-credit-score"],"acf":[],"yoast_head":"\n5 Golden Rules To Avoid Falling Into The Credit Card Interest Trap<\/title>\n<meta name=\"description\" content=\"Understand how credit card interest charges work before you start charging up your year-end shopping spree on your credit card.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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