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woo,
I know from experience exactly how it works.
Once you go into interest rate mode, you pay interest on EVERYTHING you buy from that point on, until such time as you have a 0 balance for 24 hours.
In other words, say your balance is $1,500 and you make a payment of $500.00 before your due date. Now you start paying interest on the balance owing of $1,000.00.
Here's the good part......
Say you buy $250.00 worth of stuff this month.
You now pay interest on the original $1,000 owing, PLUS the $250 you put on this month as well.
Everything you buy is charged interest.
Now, even if you pay off that remaining $1,000.00 from the previous month, you will still be charged interest on everything you buy regardless until such time as you have an absolute 0 balance for 24 hours.
To get out of interest mode you have to phone the bank and ask, "As of right this second, what is my outstanding balance on this card?"
Then you have to pay everything, and not use your card for at least 24 hours.
I would even recommend calling the bank back the next day after you paid everything off and repeating the question to ensure that there is nothing you bought a couple days prior that was added to your card.
Otherwise, everything you buy will be charged their loan shark rates.
It's some scam eh.
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