The reason the interest charge came was B. You had a balance of $535.07 from the previous month and only paid $450.00 so you didn't pay off your balance in full.
What was the interest charged for ?
The interest charge of $6.31 on your credit card statement near section 8 is likely due to the fact that you carried a balance of $535.07 from the previous month and only made a payment of $450.00.
When you carry a balance on your credit card, the card issuer typically charges you interest on the unpaid balance. This interest is calculated based on the annual percentage rate (APR) of your credit card, which is the cost of borrowing money on the card.
The APR is divided by 365 to determine the daily periodic rate, and then this rate is applied to the average daily balance that you carried over from the previous month.
Options are:
a. You paid off your entire balance from the month before.
b. You had a balance of $535.07 from the previous month and only paid $450.00 so you didn't pay off your balance in full.
c. You borrowed more than your credit limit and were charged interest on the amount you borrowed over your limit.
d. The credit card company paid you interest for the purchases you made on their credit card.