What exactly is Purchase Interest on a Capital One credit card?

nicholson11

Each month I keep getting charged Purchase Interest in addition to the Cash Interest on my Capital One credit card. What exactly is Purchase Interest charged for?

Do I receive Purchase Interest for any purchases I have made on my credit card in a particular month or is it charged for all purchases I have made this year?

In other words, if I don't make any purchases during a particular month should I be charged Purchase Interest for that month?

[Deleted User]

Interest on the purchases you make until you pay them off. Doesn't apply if you clear your balance in full every month.

CLAPTON

interest is calculate on the daily balance and continues until you pay the a/c off

if you pay in full every month (and no cash tranactions ) then you pay no interest

balmk

Interest on cash advances and interest on purchases are charged at different rates, so they will be shown seperately on your statement.

If you use your card for cash advances and purchases, you will see entries for interest against both.

nicholson11

I understand now. Thanks for your responses. It would have nice if C1 had something on their website explaining that to me.