Credit Card: Charge from the bank
Let's say I have a debt of .
Let's say I don't pay for my credit card debts. Next month they will charge me interest upon the money I should have paid ( + interest).
Now let's say I pay more than I should for it, for example . Then Next month they will charge me -.
Should not they owe me with the same interest they charge from me since I was the one who loaned them some money??
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A credit card is essentially a contract where they will loan you money in an on demand basis. It is not a contract for you to loan them money.
The money that you have overpaid is generally treated as if it is a payment for a charge that you have made that has not been processed yet. The bank can not treat that money as a deposit and thus leverage it make money them selves.
You can open an account and get a debit card. This would allow you to accrue interest for your deposit while using your money. But if you find one willing to pay you 25% interest please share with the rest of us :)
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