credit card

Credit card interest charges are waived from the time you make a purchase. In fact, you can avoid interest charges altogether by paying your bills in full each billing cycle. When you open a new credit card account, the creditor assigns you an annual percentage rate based on your credit score.However, most credit cards have variable interest rates. This means that your account rate may change if the Federal Reserve changes its benchmark rate. When the Federal Reserve raises rates, your credit card rate can almost certainly follow that upward trend, even with good credit.Interest charges only apply if you…