クレジットカードの金利とその仕組み

Interesting when using a credit card is interest. If you don’t understand interest rates correctly, you may end up with higher repayments than expected.

Here, we introduce the interest rate of credit cards. At first glance, the interest rate seems complicated, but the mechanism is very simple.

Let’s deepen your understanding and use it as a reference when using a credit card.

クレジットカードの金利とその仕組み

Differences in interest, interest, and interest

Interest and interest are words that are very similar to interest rates. What are the differences between them? First, let’s keep the meaning and difference between these terms.

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・ Interest
interest is like a rental fee for money . The borrower (card loan user) pays to the lender (card loan company).

-Interest
rate is the ratio of interest to principal , and is also used in terms of interest rate and yield. Interest rates are expressed in percent (%).

・ The interest paid at a certain interest rate
when depositing money in an interest bank or postal savings is called interest.

Interest rate occurs when you choose installment payment or revolving payment

If you pay by credit card, you can easily choose a method of paying in multiple payments, such as installments and revolving payments (revolving payments).

Installments are paid monthly by dividing the price after determining the number of payments, such as “3 times payment” or “10 times payment” . If you pay 3 times, it will finish in 3 months. Revolving payment is a system that pays a fixed amount every month regardless of the amount of payment, such as “10,000 yen” or “30,000 yen” .

If you choose easy installments or revolving payments, be careful as the interest rate will be added to the amount you actually pay.

What is the interest rate?

The rate of interest varies by credit card company. Some places have a uniform 15% , others have different interest rates depending on the amount.

In addition, there is a place where the interest rate is free if it is the second revolving payment . Therefore, it is necessary to know the interest rate conditions of each credit card company before using.

Choose cash or lump sum payment

Even if you use a credit card for payment, you can simply choose “lump sum payment” and pay only for the purchase price without wasting interest.

Therefore, when using a credit card, be sure to save well in advance and make payments in a lump sum.

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