The interest-free period appears withdrawn from the non-payment associated with whole charge card dues.
You are should pay the complete bill amount by the end of credit free period to avoid paying interest charges on the outstanding amount when you receive the credit card bill/statement. To pay for the charge card bill, you generally have a period that is credit-free of times through the bill/statement problem date.
You can repay the outstanding amount over a period of time if you pay only the monthly ‘minimum due amount’, which is generally about 5 percent of the total amount of the bill, to the lender/issuer. This technique is often referred to as revolving credit center. But this payment that is deferred comes at a price, as interest is levied (at a specific portion) regarding the whole outstanding quantity unless you result in the complete repayment of one’s charge card bill. Read More