By: Mark Stevenson

april-
I am curious. Do you do cash advances? If so the interest is compounded daily meaning your cash advance balance daily periodic rate is about .08% meaning your balance compounded interest every day since the statement date. No, I don’t work for Merrick or any other bank but I have been using credit cards for roughly 25 years and have done a few cash advances along the way and learned that if I do a cash advance I need to slightly overpay on the balance to avoid that problem.
-mark