32 Credit Card Mistakes That Any American Does

NOT UNDERSTANDING INTEREST

“You can’t just take your balance and multiply it by 14.99 percent and get your extra payment for the month,” says Brooklyn Lowery, editor at CardRatings.com. Annual percentage rates are for the year and not a monthly fee. Sites such as CardRatings provide rate calculators to show cardholders how much interest they’ll pay each month.

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