What is residual interest?

What is residual interest?

Residual interest is charged if you have a balance outstanding on a Credit Card from one month to another. Interest is then calculated daily on your credit card balance and accrues from the date on your statement until you make a full statement balance payment.

When is residual interest applied?

Residual interest is calculated on your balance in the days between your statement payment date and you making a full statement balance payment. The residual interest will appear on your next statement.

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