interest for a given month is based on the entire month, from the 1st to last day, inclusive
Name:
Anonymous2008-12-01 3:04
an account with a line of credit earns interest when the balance is positive (no money owed) and is charged interest when the balance is negative (money is owed). the interest rate charged on negative balances is higher.
Name:
Anonymous2008-12-01 3:04
a third interest rate, even higher, is charged on any owed amount exceeding the line of credit limit
Name:
Anonymous2008-12-01 3:04
transactions causing or adding to overdraft likely cost additional fees
Name:
Anonymous2008-12-01 3:05
there may be a minimum monthly payment required against negative balances
Name:
Anonymous2008-12-01 3:06
outstanding interest owed at the end of the month compounds