How To Win Against Credit Card Interest Charges [Infographic]
In any financial articles talking about getting credit from financial institutions, you will come across the importance of interest rate as one of the considerations. The interest rate is the annual cost of borrowing money, usually on a credit card or loan. Interest rates are also known as an annual percentage rate or APR.
For example, credit cards in Malaysia charge at least 8.88% per annum. Sounds simple enough?
Unfortunately there are various other considerations and conditions when it comes to credit card interest rates. It is not at all simple or straightforward for the uninitiated.
There’s much to know and understand about interest rates if you ever plan to use a credit card or loan.
This infographic explains what interest rate is, and what it means to your credit card outstanding balance. However, trust us to also include ways you can get away from paying interest on your credit card balance.
If you keep to these golden rules, you will not need to fall into the credit card trap that everyone else talks about.