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11 March, 17:51

Three examples of when interest rates are bad for you

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  1. 11 March, 18:04
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    Below you will find three examples of when the interest rate is bad for you:

    Credit cards interest rate Overdraft interest rate Default or late payment interest rate

    Explanation:

    1. Credit cards interest rate: When you purchase a good or service with your credit card you must pay the price of it plus an interest rate.

    2. Overdraft interest rate: When you are overdraft in your current account you must pay an interest rate for the mount overdrawn

    3. Default or late payment interest rate: When you make a late payment or fail to pay an installment in your credit you must pay a fee calculated in an additional interest rate,
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