Why am I never getting charged interest on my credit cards?

What is Purchase Interest and Cash Interest on Credit Cards?

  • What is Purchase Interest and Cash Interest on Credit Cards? I'm still confused why I do get charged on Purchase and Cash Interest on my credit Card? I'm paying b4 the due ...show more

  • Answer:

    When you buy an item using credit cards from a store and you make the payment in time no interest will be collected from you. If you have delayed the payment on due date, they charge interest on the liability ehich is known as interest on purchase. If you draw cash using credit card, from that day onwards interest will be charged, this is cash interest.

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