Regions Help & Support
What is an interest charge and when does it occur?
Interest is a type of finance charge that accrues on an account as a result of carrying a balance that is subject to an interest rate. In essence, interest is the cost of borrowing money. Different interest rates may apply to your account depending on the type of transaction – ex. purchases, cash advances, balance transfers.
Interest may begin to accrue on the day of a transaction, if that type of transaction doesn't have a grace period (this is the interest free period that applies to some transactions and balances). For example, cash advances and balance transfers typically do not have a grace period. Check your cardmember agreement for details specific to your account.