how much interest does credit cards charge
This is a little different from average daily balance, and more insidious. Consider: You have an annual rate of 13 percent on your credit card. Daily interest is 0.0003561 percent. Some credit cards will charge you interest at that rate each day. It may seem like a small amount, but being charged each day can add up, since the daily charges are added to your balance for the next day, and then interest is charged on the whole.