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.
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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.
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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
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The North has already warned that Park will "pay for his crimes in blood" if copies of the film make it across the border.
朱克斯提醒，我们目前正处于第四次超级大泡沫之中，它是美联储在保守经济学兴起以来的30年时间里吹起来的。他将这个泡沫称为“暂时没有名字的泡沫”(Bubble With No Name Yet)。好，大家来给这个新泡沫命名吧。但不管你叫它什么，都要快点起名，因为它马上就要爆了，就像过去30年相继破灭的亚洲泡沫、互联网泡沫和信贷泡沫一样。
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Tsinghua University holds the No. 1 spot in both computer science and engineering. The Chinese institution overtook MIT for the top computer science rank this year.
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
Song “Unforgettable” (Li Guyi, Zhang Yingxi and students from Confucius Institute)
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.
The tightening drove some enterprises seek other financing options such as bonds or listing on the National Equities Exchange and Quotations (NEEQ).
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继Facebook前员工肖恩帕克(Sean Parker)和查马斯帕里哈皮蒂亚(Chamath Palihapitiya)——二人谴责了社交媒体的成瘾性——之后，新的一年将有更多的科技行业工作者发声。
The pace of innovation has been rapid. Fitbit has released five or six distinct models since the company launched in 2008, and Samsung released three or four variants of the Galaxy Gear in a nine-month period. Sony SNE 0.77% , Pebble, Google, and Facebook’s FB 0.25% Oculus Rift are positioned to follow.
Rachel Bloom burst into tears as she won best lead in a comedy or musical TV show while Amazon show Mozart In The Jungle was another surprise victor at the awards show when it was named best TV comedy.
Russian President Vladimir Putin says he wants to develop better ties with the United States no matter who wins next year's U.S. presidential election.
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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.
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Volatility in currency markets is also likely to be a factor for agricultural commodity prices in the next 12 months, with the euro likely to depreciate as a result of French, Dutch and German elections, Rabobank reckons.
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Currency movements have had a strong impact on agricultural commodity prices this year, with the UK’s referendum on the EU leading to a sharp fall in the pound that pushed up the price of food imports and boosted agricultural exports.
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今年的英国《金融时报》和麦肯锡年度最佳商业图书奖(Financial Times and McKinsey Business Book of the Year Award)，颁给了一部描写前美联储(Fed)主席艾伦.格林斯潘(Alan Greenspan)的传记，其内容引人入胜、面面俱到。
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Discipline watchdogs have also tightened management of Party and governmental officials so that the number of newly escaped fugitives dropped from 101 in 2014 to only four last year, CCDI figures show.
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
The dollar value of China’s exports fell markedly more than expected last month and import growth more than halved, while revisions to November data erased what had appeared to be a long-hoped-for return to growth for outbound shipments.
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Whiteness, in this context, is more than just skin color. You could define it as membership in the “ethno-national majority,” but that’s a mouthful. What it really means is the privilege of not being defined as “other.”
It also said 98 percent of government-sponsored students returned to China. Government-sponsored students who study abroad have chosen to pursue disciplines most needed in China, including engineering, the pure sciences, agriculture and medical science.