Credit card interest Q

sazzles01234

Hi!
My brain is having issues trying to figure this out... I have a 0% interest ending 7th June, and I’m not able to pay the full amount off until I get paid on the 25th... it’s changing to 18.33%...  I just wanted to work out what interest will be added in that time.. there will be £460 left. 

My other option is to move it with a 2.9% fee which would be £13.34.... I just can’t figure out which is cheaper.

thanks in advance 

JGB1955

Assuming you will be paying the 18.33% for 18 days, the interest works out at £4.16  (£460*18.33%*18/365) - roughly 23p per day.

sazzles01234

That’s is amazing! Thank you so so much!!

zagfles

It's a bit cheaper, assuming the 18.33% is the APR, it takes account of monthly compounding so the monthly rate will be 1.1833^(1/12) - 1 and the daily rate is that times 12/365 so times 18 days times £460 it's about £3.84

sazzles01234

Oh even better! Thank you so much!