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
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At school, even in kindergarten, you teach us to behave in the world. You teach us: not to fight with others, to respect others, to clean up our mess, not to hurt other creatures, to share - not be greedy. 在学校，甚至在幼稚园，你们大人教我们如何处世，你们告诉我们不要打架，要尊重对方。找出答案，解决矛盾。去分享，而不是贪婪。
里尔宁援引了荷兰经济政策分析局(CPB Netherlands Bureau for Economic Policy Analysis)的最新数据，数据显示，9月至10月经季节性调整的全球贸易量下降了1.1%，他表示，去年将被证明是世界贸易自2009年以来表现最糟糕的一年。
If you have been out of work for a long time, it may be time to consider taking a job you wouldn't have looked at before.
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
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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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Lecent was with an unknown number of other youth when she was killed by a single bullet inside a home in a public-housing complex near Martin Grove Rd. and Finch Ave W.
但是，那些宣称不大可能会消失。阿拉巴马州大学亨茨维尔校区的大气科学家约翰·R·克里斯蒂(John R. Christy)以怀疑全球变暖的严重性而知名，他在一次采访中指出，2014年的记录只比以前年度的创纪录温度高出百分之几度，完全是在全球温度测量值的误差范围之内。克里斯蒂说，“自20世纪末，气温并没有太多变化，一直处于较暖的稳定水平。”
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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China produced an estimated 420.5 tonnes of gold last year, according to the World Gold Council. Over the same period, Chinese demand for gold rose by 4 per cent to 953.3 tonnes, it said.
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The Chinese mainland had a population of 1.37 billion, an increase of 33.77 million people over the census taken in 2010, meaning the annual growth rate was 0.5 percent.
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
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Two arrests have been made in connection to the shooting death of 14-year-old Lecent Ross, police said Thursday.