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Why is the interest rate one of the biggest factors when calculating the financial charges on credit cards?
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Why is the interest rate one of the biggest factors when calculating the financial charges on credit cards?

User Zahid Rasheed
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Answer:

  • Interest rate is one of the biggest factors in calculating finance charges because the interest rate adds a percentage of money not already spent to pay towards the credit cards if not paid in full each month.
User Fishtoprecords
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the interest rate adds a percentage of money not already spent to pay towards the credit cards if not paid in full each month.
User Naftsen
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