What will i be charged each month if my credit card is 5.8% pa and my balance is 3600 pounds?
Ive got a citibank credit card and it was 5.8%pa for the life of my balance and im being charged 18.35 pounds for the first month is this right? im rubbish at mathsi wont touch the card apart from paying it off. i transferred the balance from a high interest card and wont take any cash out or spend. are the figures correct though?
Answer
The interest rate will differ. did you draw cash on the card? this will incur a higher interest rate than if you paid for nices. £3600 is a lot so yes, the interest is going to be high. you could try a balance transfer to another card
