1. Make sure you pay off every single cent by the payment due date stated in your statement every month, which means $0.00 in your outstanding payment. Why? Because if you have balance amount that is brought over, the interest that you are paying does not only includes the interest of the remaining amount, it also include the new purchases you made during the month. It simply means that if you have outstanding balance, you will not enjoy the “Buy First Pay Later without interest” benefit.
2. Credit card interest is not only based on 24% per annum or 2% per month, it is being calculated on a daily basis which is 24% divided by 365 (days in a year) that equate to 0.0658% interest per day.
For example, If you have accumulated a total of $3,000 and have only managed to pay off $500, the remaining $2,500 will have interest charged on it. If you have noticed from the picture, the interest per day can come out to a sum of $1.65, which you might not see it as make a purchase during this period (the period which you have not cleared the payment), the amount will be added and interest will be incurred on the new total amount.