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
For starters, breaches like that of Bitstamp and the much larger (valued at about $400 million at the time) 2011 hack of the exchange Mt. Gox are often misconstrued as security issues with the currency itself. But they are only signs of flaws in those particular exchanges and not a sign of an issue with the underlying technology. And it is the underlying technology behind bitcoin that most excites. As we wrote in the “Shape the Future” package of our January 2015 issue, most of the vocal enthusiasts so bullish on bitcoin—from big-name entrepreneurs like Marc Andreessen to the developers and miners who spend their days refreshing the bitcoin Reddit page—are more interested in the applications that can be built on bitcoin’s “block chain,” the currency’s foundational backbone, than they are in bitcoin as a monetary system. The block chain allows the secure exchange of any form of value between two entities.
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
3. Elasticity of Demand.The cure for low prices is low prices. That cliché can be applied to both the supply and demand side of the equation. Will oil selling at fire sale prices spur renewed demand? In some countries where oil is more regulated, low prices may not trickle down to the retail level. Countries like Indonesia are scrapping subsidies, which will be a boon to state coffers but will diminish the benefits to consumers. However, in the U.S., gasoline prices are now below $2.40 per gallon, more than 35 percent down from mid-2014. That has led to an uptick in gasoline consumption. In the waning days of 2014, the U.S. consumed gasoline at the highest daily rate since 2007. Low prices could spark higher demand, which in turn could send oil prices back up.
It was the spring of hope, it was the winter of despair…
On Turkey, which recently shot down a Russian warplane, Putin said he sees no possibility of overcoming the strained ties with the current Turkish leadership. He said he was shocked to see that Turkey hadn't tried to explain its action but turned to help from NATO instead.
2. Take baby steps.
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
“The employee submitted a message through the company web site.”
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 number of candidates for the 2016 national civil service exam has surpassed last year's numbers, with more than 132,000 applicants on Tuesday－the most in a single day－deemed qualified for the exam.
The latest survey also showed the country had a narrower gap between genders in 2015. As to the structure of genders, the male-to-female ratio last year was 105.02, lower than the 2010 ratio of 105.2.
Falke的最终失利令人扼腕，但eBay的表现确实无可匹敌。我以为自己对eBay的爱将矢志不渝，因为鄙人全部的穿戴和家中物件均来自这家公司，而它却向《纽约时报》(the New York Times)表示：“我们热切希望利用我们的平台，通过营造公平的竞争环境来造福数百万人。”
In this emotional comedic drama, a selfish car dealer named Charlie Babbitt learns that he has a brother after his estranged father dies. He is upset to learn that said brother, Raymond, received his father's $3 million estate despite living with severe autism that has left him in a mental institution. Charlie learns that Raymond is a savant with outstanding capabilities for mental math and takes advantage of this skill by using Raymond to count cards in Vegas.
Now analysts believe the opportunities for profitable growth are nearly exhausted, according to Chen Long of Gavekal Dragonomics, a research group.
Adriana Lima, 35, slipped into a figure-hugging white strapless number. The Brazilian model went for a simple and chic look, tying her locks up and wearing a statement necklace, which was dripping with diamonds.
It’s ironic that in a country as populous as China, a meme about loneliness would be so popular. This seemingly irrational line has been repeated in every possible permutation, on every possible occasion, e.g. “What big brother is reading not a book, but loneliness.”
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.
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.
Mr Baweja agrees with this conclusion, noting that both South Korea and India, another net commodity importer, are exporters of refined oil products, the dollar value of which should rise this year.
Beijing has responded with increasing rancour against Seoul’s decision to deploy Thaad, the Terminal High Altitude Area Defence platform. While South Korea insists the system is for defending itself against North Korean missiles, China fears the technology will allow an ally of the US to spy on its military developments.
8.My resume is 5 pages long for a good reason. – Because I’m darn good at bullshittin’!
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*最佳综艺节目台本创作：《约翰?奥利佛上周今夜秀》(Last Week Tonight With John Oliver)
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
Fortunately for Honda, it benefits from a deep reservoir of customer goodwill and loyalty in the U.S., as well as a reputation for building high-quality vehicles that are rated highly by objective third parties for their low cost of ownership. The reservoir was drained somewhat by a product defect controversy resulting from airbag deployments that scattered shrapnel on its victims.
节目6 小品《想跳就跳》，潘长江 蔡明 郭丰周
The recovery may help allay some of the gloom around emerging market countries, many of which used strong export growth as a springboard for rapid economic advancement in the early years of this century, before the export boom turned to bust.
The Magic are the single-most mystifying team in this entire exercise. They make little sense on paper or on the court.
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This is the second time that both enterprises and institutions have adjusted basic pension, since the first simultaneous adjustment in 2016.
上述消息源还称，苹果将在明年10月发布一款12.9英寸的平板电脑，“目标消费群是北美的教育市场（和）……生产商是广达电脑（Quanta Computer）”。有报道称，三星也在研发尺寸在12至13英寸之间的平板电脑，而现在看来，“这些大尺寸平板电脑将极大地影响超极本需求”几乎是板上钉钉的事了。新款“iPad Max”，搭载整合了键盘和电池的新款外壳之后，实际上就是一台笔记本电脑，很有可能在高中生和大学生之中成为主流产品——这一人群需要比现有iPad和iPad Mini产品更好的内容创造工具。
昔日影坛风光无限米高梅公司重组计划已获得批准，电影公司将由望远镜娱乐公司( Spyglass Entertainment )掌舵再次出发。而MGM也将不会在作为电影电影发行公司，而仅仅是一个制作公司。这使得第二十三部《007詹姆斯-邦德》电影问世日期更加具体化。