<prompt> Human: So I just started working my internship for the summer. Im a college student, so I didnt start off with much money before starting work. After paying off all of my rent my landlord made me pay all of it up front for the summer and other expenses needed to start off the summer which isnt cheap since Im in D.C., I now have a credit card bill of 2,384.46 due July 9th. I have calculated all of my projected expenses and income, and by July 9, I will only have about 1,100 in my bank account. The thing is, on July 15, I will receive a paycheck around 1500 which would allow me to pay off my credit card bill. Still, I wont have it by the time my CC bill is due. So, Ive considered two options and was hoping to get advice on which would be the best for me:1. Pay as much as I possibly can on July 9 about 1,100 and then pay the rest once my paycheck comes in less than a week. Unfortunately, this would be the first time in my life that I wouldnt pay my CC bill in full and thus would have to deal with my APR rate. My Purchase APR is 15.99. How exactly does this APR compound? If I pay my remaining balance off within the week, is the APR interest charge less than if I were to wait until the end of the month? Or is the APR interest simply charged on a month to month basis? 2. The other option would be to get a payday loan. I really, really dont want to do this since they are such a risky business to get involved with. Also, I cant seem to find any payday service that will give me an amount up front of how much interest I would pay for this week loan.Are there any other options out there? Thanks again for the help, Ive never been in this situation before.  <response>: Your credit card is already a loan at 16, why would you consider a payday loan at 100 no idea but stupid high instead?Rough estimate, balanceAPR12 if you let it sit for one month, so 30 if you leave it all on there. If I were in your position Id pay them minimum by the due date, then the rest at the next due date, leaving a bit of a cash pad in case something came up. This requires discipline not to spend it, but sounds like you are perfectly capable of this. 