What is credit card interest rate, can anyone tell me?
When your payment is due and you don’t pay the balance, you are charged an interest for it. It is otherwise known as Annual Percentage Rate. It is calculated daily and added monthly to your bill for carry forwarded dues.
You can avoid these charges by paying your full statement balance on time. In case you miss payments or pay partially, your outstanding debt would increase. The credit card interest generally lies around 24% per annum or more, so it is advisable to not let any dues carry forward.