how long does it take for someone to be charged an interest on discover credit card
The term âcompound interestâ means that any interest charges are added to the principal (which is the amount you originally borrowed) so that your debt grows exponentially. If you have a $100 debt and it accrues 10% interest every month, then the first month you will be charged ten dollars (100 x 0.10).With compound interest, that ten dollars is added to your original debt, so now you have $110 of debt.f you charge the $200 to your credit card, then the amount will show up on your monthly credit card bill and you will have a 30 day grace period to pay it off, after which youâll begin to accrue interest on it.