If I pay off my credit card balance when it is due, is the company allowed to charge me interest for that month?
When you carry a balance on your credit card, most card companies charge you interest from your billing date until the time they receive your payment.
Different credit card companies have different rules for when they charge interest. In general, once a credit card company starts to charge interest, it keeps charging interest until it receives your payment.
Your cardholder agreement should tell you the rules for your credit card. You should be able to find a copy of the agreement on the credit card company’s website, or you can look it up by the company’s name. You can also request a copy from your credit card company.
Still have questions about credit cards?
Whether you’re shopping for a new card or getting a handle on an existing one, here are the resources you need to manage your credit cards. View our resources.