They work likr this. You buy some stuff. At the end of the month they send you an invoice. If you pay it all off you pay no intrest. If you pay some of it you pay the intrest that you have agreed to pay when you applied for the card (as high as 22% with some cards). If you can get a better rate apply for the better rate then cancel your higher rate card. Often they offer an itroductory rate that is much lower than the regular rate. Unfortunaely after the introduvtory term end you get nailed with the regular rate on any ballance owing. Simple really. Just pay the thing off EVERY month and you pay nothing. Zero, Zip, Nada. Some cards will give a lower rate but charge an annual fee. I avoid those cause I'm a cheap fucker. I pay the ballance EVERY month. In 15+ years I have paid less than $100 intrest on my CC's while spending $1500+ on them each month.
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