:salam2:
Although I’m not one to those who use a creadit card but I was calculating how the bank charge interest lets say in other words that how credit card bank makes pplz fool.
Bank ‘A’ issued a credit card to person ‘Z’ with a specific amount (depends on Z’s salary) and said whenever you use your credit card you have grace period of 45 days to return full amount. In that case there will be no extra chages.
Otherwise you’ll have to deposit minimum amount. If Z paid full amount than there is no chages but if he paid miminum amount than next month some percentage Z have to pay more with mimum amount.
In first para even Z paid full amount even that the bank charged some interest after passing of few. That amount is too little that Z would consider it. Well, on questioning the Bank ‘A’, I came to know that if before the issuance of monthly bill, Z pay all dues than there will be no charges which means Z have to pay with in approximately 28 days. If he use grace period of approximately 13 days than the bank will charge him.
Conclusion: There is no interest free bank 