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.
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
Sam Smith, 'The Thrill of It All'
But although he foresees a “noticeable pick-up in exports” in the first quarter of 2017, the UBS man is keen to play down any euphoria. He believes year-on-year growth will weaken and maybe even turn negative by the second half of 2017 because “volume is not picking up in a big way and the base effect [of last year’s weak commodity prices] will fall off” during the course of 2017.
引人注目的是，在首次上榜的9所学校中，亚利桑那州立大学(Arizona State University)的WP凯瑞商学院(WP Carey School of Business)成为首次参与此项排名的美国学校，排在第82位。
Hunger Games star Jennifer Lawrence on Tuesday topped a Forbes magazine list of the world’s highest-paid actress for the second straight year, earning some $46 million, followed by Melissa McCarthy.
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
He admitted to having mixed emotions about the letter as he and Vonnie are now divorced.
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.
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This post is in partnership with Time. The article below was originally published at Time.com
The Cassini spacecraft has been sending home images of Saturn, its rings and its moons since arriving at the gas giant in 2004. The mission ended in September with a planned fiery crash into Saturn’s atmosphere. While it studied the planet, Cassini explored moons — Titan and Enceladus — that could be home to extraterrestrial life. The probe also gave us great insight into our solar system, and will continue to do so for years as scientists pore over the data it collected.
The two extraordinary sex toys will go on display at an upcoming exhibition at the Asian Art Museum of San Francisco in the United States.
To SKN Company in Russia for exploding old Russian ammunition and creating diamonds. Now that`s recycling!
Nobel economists like Joseph Stiglitz, environmental activists like Bill McKibben, George Soros and the Institute for New Economic Thinking, politicians like Al Gore and other modern thinkers all warn us that traditional economists (and the banks, businesses and government agencies they work for) are addicted to bad economic theories, And they're sabotaging America's future.
斯坦福大学的Zhenan Baohas 研发出了一种具备超弹性、超耐性和超敏感的材料，能够作为未来发展人工皮肤的基础。以前，人们也研究过生化皮肤，但是Baohas的材料比以前研发出来的更具敏感性。它带有有机转换物质和一层弹性材料，保证它在不被破坏情况下的延展性。另外，这种材料带有一系列的太阳能电池元件，可以自动充电。
But markets plunged following the ECB decision. Investors complained that the central bank had misled markets about the amount of extra stimulus it was prepared to inject to shore up the recovery.
The 2015 FT Global Executive MBA ranking this year is remarkable for two reasons. Not only is it the FT’s 100th ranking of business schools, but it also marks the first time thataprogramme that includes a mainland Chinese business school has occupied the top position.
Stripping out price, volumes of Chinese imports in October fell a more modest 2.6 per cent from a year earlier, according to estimates from Oxford Economics.
16. Most Ignored Truism “There’s a myth in the business that young males drive the box office,” Tom Rothman, the chairman of Sony Pictures Entertainment’s motion picture group, told The Hollywood Reporter in November. In this same interview, Alan F. Horn, the chairman of the Walt Disney Studios, tried to make it simple: “There are variables that do affect what one pays any performer. Angelina Jolie, for example, got a lot more money for ‘Maleficent’ than Daisy Ridley did for ‘Star Wars,’ but they’re both women.” (Gee, thanks, Alan!)
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.
10.Supersensitive Electronic Skin
Like any college kid, Evan Wray loved using the tiny pictograms known as emoji. But he hated that there was no emoji to express his Fighting Irish pride with fellow University of Notre Dame students. So, alongside co-founder Sean O’Brien, he built a modest business on that disconnect. TextPride, as it was called, licensed images from brands in the sports and entertainment world and sold them as sticker packs. Within a messaging app like Kik, users could buy a packet of stickers for Disney’s Frozen for $1.99, for example.
Yet when October was taken as a whole, only Shenzhen showed a real month-on-month price fall.
200911/88512.shtmlA 1936 Nobel Peace Prize discovered at a South American pawn shop has been sold at auction in Baltimore for $1.16 million.
The host list of 2014 Spring Festival Gala, including Zhu Jun, Dong Qing, Bi Fujian, Li Sisi and Zhang Guoli, are released on Wednesday. Chinese film actor and director Zhang Guoli will host the annual gala of China Central Television (CCTV) for the first time.
It is up to other institutions — notably, Congress, courts and media — and the citizens at large now to do so.
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The increase of these and other gases from human activity has caused the planet to warm by about 1.5 degrees Fahrenheit since the preindustrial era, which is causing land ice to melt all over the world. The oceans are rising at what appears to be an accelerating pace, and heat waves and torrential rains are intensifying.
These rankings use a different methodology from the overall ranking based on academic research performance in each specific subject.
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
“My manifesto with Summly was to get our technology into as many users’ hands as possible,” Mr D’Aloisio said, pointing to Yahoo’s hundreds of millions of users. “With Yahoo’s reputation as a content portal, we have an opportunity to fundamentally change the way content is consumed.”
Maddie has now appeared in three of Sia's videos - Chandelier, Elastic Heart and Big Girls Cry.
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The letter surfaced in a Pennsylvanian university mailroom earlier this month.
Transforming and upgrading the real economy through innovation
MasterCard says its index reflects the interconnectedness of major global cities and tracks the ways in which business and leisure jet-setters spend their money.