Credit Card

[Jonners]

Has someone got sometime to explain this whole credit card business to me please.

Say I borrow £275 and pay £40 a month until the balance is cleared how much interest will I owe if it's set at 15.9% I believe this is APR rate.

The card in question is the Halifax ONE Credit Card.


Thanks for your help

 

[Moley]

If you repay £41.25 over seven months you will pay back £288.78 for a total interest repayment of £13.78.

http://lmgtfy.com/?q=apr+calculator