Many issuers use your card’s average daily balance to calculate credit card interest. Getting your average daily balance involves adding up the balance on your card from each day in the billing period and dividing that sum by the number of days in the billing period. Interest calculations proceed from there.

From good vs. bad rates to avoiding common pitfalls, credit card APR can significantly impact your financial health.

A secured credit card functions similarly to a debit card. However, you’re essentially relying on your cash deposit, which is what translates to your secured line of credit to make purchases.

Whether you’re looking for your first credit card or you already have several, it’s not always easy to figure out how to choose the right credit card. With so many options available, it can be overwhelming to determine which credit card suits your needs.

Credit cards offer more than just a convenient way to pay; they provide a host of benefits that can enhance your financial health. From building credit to earning rewards, understanding the advantages of using credit cards can help you make informed financial decisions.

As reported by WalletHub, credit card debt was $1.30 trillion in August 2024, setting a new record. Despite surpassing the previous peak, it’s still $99 billion shy of the all-time high set in 2007. Although the Federal Reserve recently cut interest rates,

It's helpful to know how interest is calculated so you can figure out how much you're paying in interest each month. Here's how credit card interest calculated.