Does it matter how often banks charge interest?

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asked Jan 13, 2022 60.6k views

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Breakpoint · Answer 1 · 2022-01-18T07:02:51+0000

Answer:Basically no

Interest is charged on a monthly basis in the form of a finance charge on your bill. If you have a revolving balance, you will lose that 21-day interest-free grace period on purchases.

Does it matter how often banks charge interest?

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