Does credit card charge interest on your entire balance or single purchase?

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I've refrained from using a credit card but I caved and got one after 6 years of not having one. Anyway when credit card companies charge interest, are they charging you interest on your ENTIRE balance? For example, my balance is $500, consisting of 2 purchases: One at the beginning of the month for $300 and the other was a few days ago for $200. Tomorrow is the "Due date" or end of billing cycle. So do I have to pay back all $500 to avoid interest on the items? Or just the $300 purchase?
What's the point of a credit card if I'm going to have to pay back the purchase I made only a few days before the billing cycle ends?

I'm asking cause everything is paid off but the billing cycle is ending next week and I want to buy something that I'll be able to pay back AFTER the billing cycle ends. Do i get charged interest?
 
You have to pay off the entire balance on the statement by the due date in order to avoid interest. If you don't, you are charged interest on each purchase from the date of the purchase to the date of your next statement.
 
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