Why is the interest rate one of the biggest factors when calculating the financial charges on credit cards?

Question

asked Nov 23, 2023 60.0k views

2 Answers

Fishtoprecords · Answer 1 · 2023-11-25T09:55:24+0000

Answer:

Interest rate is one of the biggest factors in calculating finance charges because the interest rate adds a percentage of money not already spent to pay towards the credit cards if not paid in full each month.

Naftsen · Answer 2 · 2023-11-28T23:42:23+0000

the interest rate adds a percentage of money not already spent to pay towards the credit cards if not paid in full each month.