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Topic Blended interest rate Go to previous topic Go to next topic Go to higher level

By sparky On 07/28/02  

How do credit card compantes calculate the blended interest rate when you have multiple rates on one card.
Ex.
3.9% on a balance transfer
10.9% on existing balance and a special rate of
0.0% on all purchases for the next 90 days.



By colin On 08/01/02  

Credit Card companies have the technology to separate out transactions based on dates and type of transaction. If you call and request a balance transfer, that transaction will be flagged as such and may carry a different interest rate. If you are making purchases during an introductory period those transactions are flagged and assigned a different rate. So basically your balance isn't "blended" together, which might make the calculation complicated. Thanks. Colin



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