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NewsTranscript
00:00There are a number of instances where you end up paying more interest on your credit
00:19card when you're making your payments.
00:21Number one, when you make your payments late.
00:25Number two, is when you make your payments on time, but the amount that you pay is not
00:30in full.
00:31Number three, when the promotional period on your 0% interest cards end, the interest
00:37gets added.
00:38Number four is when you use a balance transfer credit card, but each transaction that you
00:43do with it, interest gets accrued.
00:46Now one thing that you have to keep in mind with a grace period is that it's valid only
00:50until only if you pay your balances in full every time.
00:55And keep in mind that with every late payment, your credit card issuer can charge a higher
01:01interest rate.