BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a debit card
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a credit card
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a checking account
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a savings account
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Detailed explanation-1: -For most people, the interest that credit card companies charge is the largest, and sometimes the only, cost of using a credit card. Credit card companies usually calculate how much to charge you each month by using the average daily balance method.
Detailed explanation-2: -Variable, fixed, introductory and promotional interest rates are a few types of credit card interest. The APR can also vary based on the type of transaction. Paying off the balance in full each month can help cardholders save money on interest in the long run.
Detailed explanation-3: -A credit card’s interest rate is the price you pay for borrowing money. For credit cards, the interest rates are typically stated as a yearly rate. This is called the annual percentage rate (APR).