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24 January 2012

Working out interest from APR

Hello. I hope someone can help me. I don't really understand how to work out how much interest I'll be paying on my credit card. If I borrow £1500 and my APR is 23% (a lot Iknow, but far better than my 39% old card) how much interest will i have to pay each month? I'm trying to work out if it's best to borrow from my overdraft (that would cost me £30 a month) or on my credit card. Yes, i know i should try not to borrow anything at all, but with two children, i have to occasionally, i'm just looking for the cheapest option available to me. Thank you x

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