Store card.. do they add interest?
2010-03-08 at 09:01 pm admindoes store cards add interest.. i opened one today when i bought a top. if i pay the item in full when get bill will interest be added? and wot if i don't buy anything from the store again what happens?
Answer:Credit cards are loans and yes, they will charge interest if you do not pay in full by the due date. The same is true whenever you use the card.
Answer:With store cards if you pay the full balance BEFORE the due date no interest will be added, and as long as you carry on paying the bill in full you'll not pay for anything more then the items you buy. If you don't use the card after the initial purchase, after about 6 months to a year they will write to you telling you that they will deactivate the card unless a purchase is made. They don't make any money from you if your not using the card so it's likely your card account will be closed if you don't use it or don't rack up interest.
Answer:No you should not have any interest . Let me warn you about a industry trend especially with store issued credit cards ,Within one year of using you card if you pay off the balance off each , they eventually might close the account , because they are not making money off you . They call it " unsatisfactory account" . Another trend a store issued credit card, is they will keep raising the credit limit enticing you to spend more and hopefully carry a balance . So be careful
Answer:All credit cards will charge you interest unless you pay the bill on time and in full every month. That's how you get a good credit rating.
Answer:If you pay in full, no interest to pay.
Answer:Store cards charge much higher rates of interest than ordinary credit cards. Pay off the item in full and cut up the card.
Answer:If you pay the bill in full or don't use it you wont be charged interest.
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