Infographic: Understanding Credit Card Interest
While credit cards are rarely fun once you’ve grown past your teenage years, learning about how credit cards work doesn’t necessarily have to be as dull as it seems. Check out this infographic, titled “Understanding Credit Card Interest”, which comes from the Compare Wallet blog. This piece helps to define some terms that can leave financial novices scratching their heads, such as average daily balance, periodic interest rate, and annual percentage rate.
And of course, framing this little mini-lesson as a Monopoly board doesn’t hurt.
Dig into this piece if you need credit card interest demystified; and learn how to “get out of jail free” by avoiding paying interest entirely! While managing actual credit card debt might be a little more strategic than an actual game of Monopoly, this certainly makes the subject more accessible.
Click image above to enlarge.
