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.
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
Sorry, folks, but if you're an investor hoping America's political internecine wars will improve in the near future, just don't invest. The war between Congress with it's abysmal 10% approval rating and the president, the war between the Dems, GOP and the tea party, is going to get even worse, upsetting markets and the economy even more.
The total amount of remittances, which is estimated to reach $450 billion in 2017, has risen by more than 50 percent in the past decade, IFAD said.
Recognize me?: image via blog.discoverymagazine.com
Skin has the thankless job of coating and protecting your whole body, making it your most easily damaged organ. When you burn or rip off a stretch of skin, your main option right now is to graft some back on from elsewhere on your body. But an effective synthetic replacement skin may not be that far off, thanks to research from Stanford scientists.
1)Thank You: Common courtesy? Sure. But tell me this: When was the last time you forgot (or rejected) gratitude? Whether given in private or public, a sincere ‘thanks’ creates goodwill. Don’t forget your mother’s advice: “Say please.” People are always happier doing a favor than taking an order.
Now Chinese investment in western economies is back on track to break a further record this year: during the first six weeks this year Chinese groups have announced $70bn in potential deals, although the number is highly provisional and not all such acquisitions will be completed.
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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5. Fan Bingbing - $17 million
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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May the beauty and joy of New Year remain with you throughout the new year!
加拿大学校继续失利。今年的上榜学校只有3所，而去年为5所，而且这3所学校的排名都下降了6个位次左右。多伦多大学(University of Toronto)罗特曼商学院(Rotman School of Management)排名最高，为第65位，而加拿大女王大学(Queen’s University)史密斯商学院(Smith School of Business)在今年的榜单中垫底，排名第100。
The data was released to encourage the adoption of stronger passwords. Mr Slain added:"As always, we hope that with more publicity about how risky it is to use weak passwords, more people will start taking simple steps to protect themselves by using stronger passwords and using different passwords for different websites."
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2. The 'Dad bod' is so hot right now
“Given the unfavourable reaction to the August depreciation, we think any further depreciation will not take place soon,” said Louis Kuijs, an economist at Oxford Economics based in Hong Kong. “In our view the October trade data keep pressure on [the government] for more domestic easing.”
New Year should be a time of banked-up fines, the scent of flowers and wine, good talk, good memories and loyalties renewed. But if all else is lacking - love will do.新年是这样美好的时光：炉火熊熊，花儿芬芳，醇酒飘香，殷殷祝福，美好回忆，恩爱日新。即便没有一切，只要有爱便足矣。
Tesla:In an effort to blunt criticism about slow refueling times for battery-powered cars, Tesla TSLA -1.54% starts to roll out of a network of battery-swap stations. CEO Elon Musk must hope he can outdo Shai Agassi’s Better Place, which tried to build a whole company around battery-swaps before going bankrupt in 2013.
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.
在苹果今年6月举行的全球开发者大会(Worldwide Developer Conference)上，库克被应用开发者团团围住，要求与他自拍合影。到了10月的iPad发布会，他甚至自己讲起了笑话。他还是一贯的着装，简单朴实：黑衬衫，牛仔裤，衬衫下摆散着。他说，Apple Watch得到了“深谙时尚与风格——比我还懂的人”的热烈好评，一边说，一边心照不宣地指着轻声发笑的观众。
Her mother Stephanie Boyden, 32, says Bobbi is a 'diva' who runs to the stage when her name is called - and screams when she has to leave.
Students were then asked to move the dispenser to the teachers' office where teachers then called the police.
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Complying with the law may prove challenging, even if improvements ultimately reduce long-term costs. In addition, 2015 is the deadline for buildings to convert from No. 6 heating oil to No. 4 oil, which is less polluting.
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
华特迪士尼公司(Walt Disney)首席执行官、自2011年起成为苹果董事会成员的鲍勃?伊格尔(Bob Iger)说：“人们说他外表冷淡，但他是个非常有激情的男人，而且勇于站出来捍卫自己的信仰。无论对个人生活还是对苹果，他都是如此。”
Song “I Love You China”(Wang Feng)
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Honda hopes NSX will burnish its reputational halo for technical expertise. The automaker also wants NSX to help boost Acura’s brand image as a maker of premium cars and trucks. Last year, Honda’s U.S. sales rose 1% against a market that increased by 5.9% – resulting a loss of market share, most importantly, lost ground against its two main rivals, Toyota and Nissan.
Graduates of Tsinghua University make more money, on average, than those from any other college in China, results of a recent survey showed.