What Is a Finance Charge, and How Do I Avoid Paying One?
If you're savvy, you can avoid credit card finance charges entirely.
If you pay off your statement balance completely during a grace period, you could dodge interest charges altogether. (Getty Images)
Borrowing money typically costs money, and credit cards are no exception. One of the advantages of having a credit card is that you don't have to pay off your balance each month. But that perk comes at a price, called a finance charge.
Here's what you need to know about credit card finance charges, how they're calculated and what you can do to avoid them.
How Credit Card Finance Charges Work
Carrying a balance. If you don't pay your balance in full by the due date each month and there is no promotional 0% APR period, you will incur a finance charge based on your card's APR and the remaining balance.
Read:“两材”重组再下一城 水泥业务整合先行？ ]
Generally, credit cards require relatively low minimum payments compared with balances. While some credit card issuers include interest charges in the minimum payment, others just charge a flat percentage. "If this minimum is less than the accrued interest," says James Philpot, certified financial planner and associate professor in the department of finance and general business at Missouri State University, "you will effectively be borrowing more money from your card issuer in order to pay interest."
Transferring a balance. If you transfer a balance from one card to another, you may incur a finance charge in the form of a balance transfer fee. You may also pay interest on the balance unless the card has an introductory 0% APR balance transfer promotion. Check the card's terms before you submit your request.
Requesting a cash advance. If you use your credit card to get cash from an ATM, interest will start accruing immediately from the date of the transaction, with no grace period. The APR for credit card cash advances is often higher than the APR for purchases.
Making a foreign transaction. A foreign transaction on your credit card, whether in a foreign country or currency, can incur a foreign transaction fee. This fee is typically about 3 percent of the transaction.
How Credit Card Companies Calculate Finance Charges
1.The Military Parade
"Based on experience from previous years, the number of applicants could sharply increase as the application window closes, especially during the last three days of application," an unidentified official with the Ministry of Human Resource and Social Security said on the ministry's website.
1.Provide strong leadership and a clear vision
She had recently emerged as the right hand of her father, the former Prime Minister Nawaz Sharif. But corruption charges are clouding her rapid rise.
美国的麻省理工斯隆管理学院(MIT Sloan School of Management)位居第五，从而阻止了法国商学院囊括前五名。
However, before starting their EMBAs, there is already a wide gap in salaries, with women earning on average 15 per cent less than men, at $111,000 and $128,000 respectively.
Note, however, that some credit card issuers compound interest on a daily basis, so your calculation may be even more complicated than this one.
How to Avoid Paying Credit Card Finance Charges
Once you grow your hair slightly longish, be sure to play with it at every opportunity.
There is a natural human tendency to idealize and whitewash days of yore, to cast them in the rosy glow of the mind’s eye.
Take advantage of your grace period. Most credit cards offer a grace period on purchases. If your credit card has one, it typically runs from the end of your billing cycle to your payment due date. By law, you must receive your credit card bill at least 21 days before it is due.
Read:文化消费成家居营销新热点 卖场各出奇招 ]
Effective email marketing involves more than occasionally blasting out a newsletter. To build an effective email marketing strategy, you need a tool packed with functionality. MailChimp seems to be the best system out there, offering elegant, intuitive newsletter templates, advanced list segmentation features and marketing automation capabilities.
An odd assortment of S&P sectors led the market higher this year, with some strange bedfellows atop the leaderboard. Even if a manager had foreseen that the healthcare sector would gain 27% this year, would they have guessed that utilities would be in the No. 2 slot, with gains of 23%? Unlikely.
As for China, lack or stopped development represents the biggest risk for this country. So it is essential that we maintain steady medium-high growth of our economy and that in itself is China’s contribution to global stability.
Global pharmaceutical spending will surpassthe trillion dollar threshold in 2014, with high prices for innovativehepatitis C and cancer drugs in the US, a new study says. By 2018spending is expected to increase by another 30 percent.
Dachis says: Starbucks is a perennial top-performer in social and 2012 was no exception. The company’s social savvy earned it 19 million new fans and followers in 2012 and its push into at-home and on-the-go products gave all those people something fun to talk about.
The only things in the way are his staff, Republicans in Congress and the limits of his power. And those are important. Campaign promises of 45 per cent tariffs on Chinese goods have turned into investigations into Beijing’s intellectual property regime.
11. Arctic and Antarctic sea ice volumes both fall to an all-time low
Use a 0% APR promotion. Some credit cards offer an introductory 0% APR promotion to new cardholders, waiving interest charges on purchases, balance transfers or both transactions for a set period.
Nearly all the entrepreneurs (93 per cent) rated their new skills as important or very important in their decision. “I understand the value of my skills without the ‘fear’ of not being employed,” said one.
Gross shifts, makes no sense: Just four months ago he warned the Fed is blowing a Credit Supernova, a new monetary bubble that would implode Bernanke's arrogant risky experiment putting America's future at great risk by bankrolling a Wall Street Ponzi Scheme and blowing a huge financial bubble.
It was last above 50 - the threshold separating contraction from expansion - in February.
Justin Bieber's split from Selena Gomez was the most enquired-about relationship bust-up while Victoria Pendleton beat Georgia Salpa as the most searched-for participant in a reality television show.
You`d love to know the balance of forces that shape and move your ponytail, right? That`s why Joseph Keller, Raymond Goldstein, Patrick Warren and Robin Ball received this igNOMINIOUS prize!
This quiet, intense Israeli film unfolds like a psychological thriller. A poetry-loving teacher discovers that one of her young pupils is a literary prodigy, and takes increasingly extreme measures to protect his gift from an indifferent world. As the story unfolds, it becomes clear that Mr. Lapid is engaged in a stealthy, ferocious critique of a society that has sacrificed its spiritual values and its cultural inheritance on the altar of power and materialism.
Victoria's Secret angel Candice Swanepoel comes 4th amongst 10 most beautiful women of 2015. This South African beauty came in 10th on the Forbes top-earning models list last year. She was voted No. 61 in 2010, No. 62 in 2011, and No. 75 in 2013 in FHM's annual “100 Sexiest Women in the World” poll and No. 1 in 2014 Maxim's "Hot 100 List".
Read:Best Rewards Credit Cards. ]
Some smart beds will promise you better sleep and posture, but this one in particular will turn you into a private investigator looking to catch a cheating spouse in the act. Regardless of knowing if it's comfortable, the Smarttress alerts you "whenever someone is using your bed in a questionable way."
Forgo certain activities. Because many cards charge fees for balance transfers, cash advances and foreign purchases, consider refraining from these activities, or try to find a card that waives these fees.
Some balance transfer credit cards, for instance, will waive the balance transfer fee for new cardholders for a short period. Also, many travel credit cards don't charge a foreign transaction fee.
Always Read the Fine Print
Are Some Molds Dangerous?
Song “Taste of China” (Phoenix Legend)
Revenge epic The Revenant was named best drama picture and DiCaprio and Inarritu walked to the stage to collect it together.
Tags: credit cards
Taylor Swift, 'Reputation'
Captain America: Civil War will hit theatres May 6, 2016. Who's side are you on?