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  #1 (permalink)
: I got a Bank of America credit card almost a year ago for $5,000. This was my first one i have ever gotten and i planned to have it paid off by the end of the promotion period. The promotion was 0% apr for a year. In October my apr will end and if I still have for example a $2,000 balance and my apr goes up to %22..99 Will the interest of $460 be added on to the $2000 balance? Or will the interest just start showing up on my monthly payment?

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  #2 (permalink)
: No, they won't backcharge interest. Once the 0% rate expires, interest will be calculated on the average daily balance (total of each day's balance, divided by the number of days) times the monthly interest rate (APR divided by 12). That interest will show up on your statement and be added to the total balance due.
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  #3 (permalink)
: I have this card.
I paid in full each month anyway even with the promotion.
I know the trap of the 0%. Few people can pay in time.
And then "wham" you are in the jaws of the sharks.

The interest will just be on the remaining balance you have.
Not on the entire amount for the whole year.
Not like some scam furniture store financing deals out there.

Did you know carrying balances was hurting your credit score?
Anytime you carry more than 30% of your available limit, your score starts reducing.
Employers check, so do landlords, even car insurance companies.
Just letting you know all the damage this card was doing to your life !!!
Never dare a piece of plastic hurt you this way again. Ok?

I use a card for gas and pay in full each month.
This develops great credit with time and I never pay interest.
Do not be a victim to banks. Do not let them be filthy rich off your money.
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