How Do You Calculate Daily Interest On Credit Card?
Hi there, What is the formula to how to figure out daily interest on credit card. For example, balance $484.00. Interest rate 8.99 A.P.R. Thanks.
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asked 2 years ago
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Number of days since last payment*Principle balance outstanding*interest rate factor=interest per day
If you want to calculate daily payment then you will have one number of days, the principal balance outstanding is the amount on which you are paying interest and the interest rate factor is the interest rate applicable on your credit card.
https://www.dlssonline.com/borrower/QctrHelpPage.do?cmd=initializeContext&APageID=QctrCintA002
If you want to calculate daily payment then you will have one number of days, the principal balance outstanding is the amount on which you are paying interest and the interest rate factor is the interest rate applicable on your credit card.
https://www.dlssonline.com/borrower/QctrHelpPage.do?cmd=initializeContext&APageID=QctrCintA002
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You must first look at what kind of credit you have...Have you ever declared bankruptcy? Ever been to debt counseling? These are some major factors that will effect a score.
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