What happens if I don't pay the statement balance on my credit card?

Last Updated: May 24, 2013 11:31PM UTC

If you don't pay the statement balance on your credit card, you will typically be assessed interest charges based on your card's APR. Typically interest is assessed based on the average daily balance during the billing cycle, not just the amount of the balance left unpaid.

If you don't pay at least the minimum amount due by the date listed on your statement, you'll typically be charged interest as well as a late fee.

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