# How much will I be charged if a make an online payment of \$223 via a credit card?

Consider any bank and give an average rate of interest

How much will I be charged if a make an online payment of \$223 via a credit card?

## 4 Replies to “How much will I be charged if a make an online payment of \$223 via a credit card?”

1. satish says:

when you transact, check the time and date and go on http://www.xe.com it provides currency conversion rate info of any currency and check out that howmuch you will have to pay.

2. gramarmy says:

Lets say right now you have \$0 balance on your card, and you pay something that is \$223. If you pay the \$223 off the next bill, you wont pay ANY interest. If you want to just make small payments. This is how it works. (avg % rate on US credit cards is 20%-30%) lets say 20% to make it easy.
223+20% = 267.60 (new balance) your minimum payment will be about \$50.
so 267.60 – 50 = 217.60(after payment balance)
Your next bill will be 217.60 + 20% = 261.12 (new balance for the next pay period)
261.12 – \$50 payment = 211.12 (new balance)
DO YOU SEE WHY PEOPLE GET IN TROUBLE WITH CREDIT CARDS? YOUR \$50 MINIMUM PAYMENT IS ACTUALLY ONLY DECREASING YOUR \$223 DEBT, BY ABOUT \$5 every month.
I know this doesnt seem right, and thats why people tell you to pay off the entire amount the same month you spent it on.

3. rahul says:

Your bank will charge you a little higher than the current market rate for that currency as banks charge some xyz amount when you do cross currency payment via your credit card. For how much they charge particularly, please call your banks helpline.

4. Zarg222 says:

you get charged \$223. – how much you wind up actually paying back depends on the interest rate, how much you pay each month and how long you take to pay it – answer could be anywhere from \$223 if you pay it in full before the due date of the first statement you receive with that charge on it … to \$600 or more if you make only minimum monthly payment and it takes you years to pay it off