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.
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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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To start with, a year before the first iPhone was released, LG had introduced a full touchscreen phone. Even that was not the first, though. The world's first touchscreen phone was IBM's Simon, which was released in 1992. And touchscreen technology even predates the Simon. The first touchscreen device was a tablet made by E.A. Johnson in 1965 that was used by air traffic controllers until 1995. Bent Stumpe and Frank Beck made the first capacitive touchscreen in the early '70s. Unlike Johnson's tablet, it could not be pressed with the fingers. Instead, it required a stylus. In 1971, Samuel Hurst developed the first resistive touchscreen, which he called the "elograph." It responded to the fingers as well as a stylus. In 1985, HP invented the world's first touchscreen computer, called the HP-150. In 1993, Apple also released its first touchscreen device—the Newton Personal Digital Assistant. The product was a flop, recording low sales.
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To Anita Eerland and Rolf Zwaan [THE NETHERLANDS] and Tulio Guadalupe [PERU, RUSSIA, and THE NETHERLANDS] for their study "Leaning to the Left Makes the Eiffel Tower Seem Smaller."
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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
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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My fellow trainer, Sylvia Guinan, made me aware of these rules that a husband has laid out for his wife to follow during the 2014 World Cup.
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《速度与激情6》帮助其另外两位男演员在我们榜单中获得较高的排名：范·迪塞尔（Vin Diesel）和已故的保罗·沃克（Paul Walker）。迪塞尔以8.87亿美元位居我们榜单第四。《速度与激情6》在全球斩获7.89亿美元的票房。仅仅几个月之前，他出演的《星际传奇3》（Riddick）在各大影院上映，仅收入9,800万美元票房，不过，这也足以使迪塞尔的排名领先于他的搭档沃克。
All-cash buyers. Skittish lenders. Skyrocketing prices. Anemic listings. These realities haunt buyers, turning the house hunt into a demoralizing slog. Unfortunately, buyers will probably have to soldier through another year of a market that favors sellers.
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德系三巨头：由于奔驰的几款低价产品不可避免地会损害它“要么最好，要么什么都不是”(the best or nothing)的商誉，该公司也开始陷入低迷。而即将推出的新7系轿车则会进一步巩固宝马在美国富人圈中的地位。另外，起价30,795美元的奥迪A3，很可能会使奥迪的销量较2014年增长15%，新款Q7也将进一步提高奥迪的利润。
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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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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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《初来乍到》(Fresh off the Boat)，ABC，2月4日播出。这部喜剧是根据大厨与美食、旅游真人秀主持人黄颐铭的回忆录改编的，讲述20世纪90年代中期的佛罗里达，一个华裔美国家庭克服文化冲突，努力适应美国生活的故事。哈德逊·杨(Hudson Yang)饰演迷恋嘻哈乐的11岁男孩艾迪，在《采访》(The Interview)中饰演金正恩的兰道尔·朴(Randall Park)饰演他的父亲，一位郊区牛排餐厅骄傲的店主。
Less than an hour ago the official manufacturing PMI for November came in at 49.6, the fourth consecutive month of contraction and below the 49.8 reading economists were looking for. Analysts at ANZ said, in relation to that PMI series:“With soft growth momentum and deflation pressures creeping up, we expect the authorities to further ease monetary policy and continue to implement an expansionary fiscal policy in order to prevent further slowdown of the economy in 2016.”
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