You May also See Timesheet Calculators What Is APR?Īpr is known as annual percentage rate, which in laymen’s terms translates to the interest rate for which you shall be borrowing. Resist the temptation of borrowing on a credit card, unless it’s really a necessity. If you fail to pay back within that time, a very high interest rate would be charged. However, the catch in all these schemes lies in the fact that these schemes have a limited period of validity and might be good only for 6-7 months time period. Should I Borrow Money On A Credit Card ?Ĭredit card companies often lure customers to borrow money from their card by using schemes known as 0% interest schemes. Use a credit card calculator and make use of every available opportunity to pay off as much loan as possible.
If you are only paying the bare minimum amount, chances are high that you shall forever keep paying your interest, as the amount of interest charged is quite high. How long, it would take to repay back your credit card loans totally depends upon the interest that you are paying for your principal loan amount. Download How Long Will It Take Me To Pay Off My Credit Card Bill?
