Honest Finance's video: How Credit Cards Charge Interest The Basics

Credit card interest explained Need a new credit card? Visit creditcards.com and be responsible 😎: http://bit.ly/CashBack_HF (click "show more" to see ad disclosure) Payment Basics Video: https://youtu.be/-ExPJP0XnyU?si=ll1BKJhXg4JgpnNW Credit card terminology: https://youtube.com/playlist?list=PLOmIpJDqCR-L5uU3G6VPj1S8mqUXpMKFc&si=FdjioZnOl0-teRQV How does credit card interest work? It can be confusing to understand, but I'll explain the basic math so you can get an idea of how much you'll be paying in interest. This video will explain the average daily balance method in the simplest form ( so it's not 100% accurate), but it'll at least give you a general idea of how the math works. Credit cards can be extremally expensive, so always try and pay off the statement balance in full by the due date each month and you'll never need to worry about paying any interest. --------------- Robinhood Free Stock (Up to $200) with Sign Up: ► https://bit.ly/hf_robinhood Instagram: ► https://www.instagram.com/honestfinance/ Advertiser Disclosure: Honest Finance participates in affiliate sales networks and may receive compensation by clicking through the links (at no cost to you). This compensation may impact how and where links appear in this description. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. This channel does not include all financial companies or all available financial offers. --------------- Honest Finance covers a broad range of financial topics that'll give your life and finances more value. Subscribe today for future content and be sure to give this video a like! Disclaimer: I am not a financial advisor. These videos are for education/entertainment purposes only. Investing of any kind involves risk, so please conduct your own research.