How to avoid credit card interest
Credit card APRs are usually high -- much higher than what you'd find with a mortgage APR or auto loan APR. Because of that, the smartest option is to avoid credit card interest entirely.
Fortunately, there's an easy way to do this. Only use your credit card for purchases, and pay the statement balance in full every time you make your monthly payment. Credit card companies don't charge you interest on purchases right away. They charge interest on your remaining statement balance if you don't pay it all off by the due date.
Keep in mind that this only applies to purchases. For other types of transactions, such as cash advances, the card issuer can start charging you interest immediately.
There's one other way to avoid interest charges on your credit card balance -- take advantage of 0% intro APR offers. If you have purchases you won't be able to pay off in full, open a card with a 0% intro APR offer on purchases. If you have credit card debt that's costing you money every month, look for a balance transfer card with a 0% intro APR on balances you bring over.
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