Yeah, um. I called the bank about the $1.47 interest charge and was reminded that line of credits work differently than credit cards as they do not offer a grace period. Ah well, this is how we learn. I have never had a line of credit before so I had to figure it out the hard way.
This gives me more incentive to cut out the daily coffee purchase at the cafeteria, which actually costs me $1.52 a day if I bring my own mug.