Interest on the Aven card accrues daily based on balance type: purchases incur no interest if paid in full by the due date; balance transfers and cash outs accrue interest from transaction completion; fixed monthly payment plans accrue interest at a set daily rate. No interest accrues if the cycle balance is zero.
Interest calculation on the Aven card depends on the type of balance.
- For purchases, interest accrues daily. Cardholders are not charged interest on new purchases if they pay the full purchase balance by the statement due date.
- For balance transfers and cash outs on revolving plans, interest accrues daily at the daily interest rate, starting when the cash out or balance transfer transaction is completed.
- Any balances in a fixed monthly payment plan accrue interest daily at the daily interest rate of the plan. The rate is set and disclosed at the time of plan creation.
If an account has zero balance in any cycle, no interest will accrue for that cycle.