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.
Full marks to Prince George for giving the patronising high-five of the Canadian prime minister the eye.
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
2018年它们会拿出更多创造力，包括在非现金效益上的创造力。例如，美国银行(Bank of America)刚刚引入了一项新计划，让全球银行业务和市场部门的员工休至多6周的长假。该计划是有条件的：员工必须在该行工作至少10年，每5年可以申请一次长假，最多享受3次。但根据英国《金融时报》看到的一份内部备忘录，首席运营官汤姆蒙塔格(Tom Montag)鼓励符合条件的员工考虑该计划。
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? The failure of a backup generator forced the evacuation of the Langone Medical Center, part of NYU hospital. About 200 patients had to be moved. Officials are investigating why the backup power failed.
Trigger Mortis was released on September 8, ahead of the release of the latest Bond film Spectre which is out in cinemas on October 26.
This is second major English-language role for the French actress, who co-stars opposite Daniel Craig in Skyfall as the enigmatic Severine. The movie opens Nov. 9 in North America but already is shattering records internationally.
This compared to a decade ago when there were six Asian cities, 10 European cities and four US cities in the top 20 of the list that calculates living costs in 131 cities in 93 countries and is used by companies for costings when relocating staff.
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
China's economic performance in the past few years should suffice to put predictions of a hard landing to a full stop. China's economy will continue to enjoy medium-high growth and be upgraded to higher levels
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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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Helsinki-based developer Remedy Entertainment has blurred the line between Hollywood and games with previous incarnations Max Payne and Alan Wake. Now the studio is combining next-generation visuals with the tension and drama of scripted television. Set in the university town of Riverport, Quantum Break puts players in control of Jack Joyce and Beth Wilder, a pair of ordinary people who are given the extraordinary power to manipulate time after an accident that creates a time rift. Time will randomly break down during the game, which causes disasters in the environment that pause, stutter, rewind and freeze. Fans of Max Payne’s bullet time will see new strategies emerge with gunfights involving time-amplified combat as the player fights against the Monarch Corporation. In addition to the virtual storyline, the game features custom live action storytelling that’s personalized based on the decisions one makes.
9. You've been avoiding your boss。
Among the year’s biggest surprises was the plunge in gasoline pries. Economists differed on the economic impact—money in the pockets of consumers offset by declines in exploration and drilling activity—but everyone agreed that it was bearish for small cars and hybrids. The combination of cheap gas and a steep sticker price made the Cadillac ELR the runaway winner of the most disliked car of the year award. Only 155 of the Volt-based $80,000 cars found buyers in November.
“…said he never lets people see him sweat — but he was sweating profusely.”
The Iranian dissident filmmaker, posing as a (barely competent) Tehran cabdriver, stages a sly, pseudo-documentary inquiry into the paradoxes of cinema and the contradictions of everyday life under authoritarian rule.
This marks the first time that Google has topped the list since 2011.
About 71.9 million units were shipped in the period, which includes the key Christmas shopping season. IDC said the decline was the worst since it started tracking PC shipments.
They were discovered in the modern-day Jiangsu Province near Shanghai inside the ancient tombs belonging to the rich and powerful.
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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Matt Damon was named best actor in a comedy or musical motion picture for his role as a stranded astronaut in The Martian.
The banks' ability to return money to shareholders have declined. The slowing earning growth, high nonperforming loans and required deposits on the reserve have placed pressure on the banks in regards to capital supplement, said Guo Tianyong, director of the China Banking Research Center at the Central University of Finance and Economics.
According to the report, people living in first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen suffer much higher economic pressure, while fourth-tier and smaller cities offer fewer job opportunities and connection plays an important role in every aspect of life there.
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We will continue to encourage people to start businesses and make innovations.
“People claim he has a cool exterior but he’s a very passionate guy and he stands up for what he believes in,” says Bob Iger, Walt Disney chief executive and Apple board member since 2011. “That is in both his personal life and at Apple.”
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
Here, a quick peek at Power Women 2013:
Good health, good luck and much happiness throughout the year.
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Following the devaluation in mid-August, the renminbi rallied in September and October. Devaluation resumed in November, however, and the renminbi closed at its weakest level in three months at 6.4082 to the dollar yesterday. “Since October many countries around China have experienced some capital outflow, and China has had its share,” said Xie Yaxuan, an economist at China Merchants Securities in Shenzhen. “The strengthening dollar is bound to cause some repositioning into dollar assets.”
His first coding effort resulted in an app that played audio snippets from speeches by his idol, Steve Jobs, whose unauthorized biography he'd recently devoured. 'It was rejected by Apple for every reason,' D'Aloisio says now, laughing. 'Copyrighted audio, poor functionality, too simple.' Another early design allowed users to touch a picture of wood, producing a knocking sound. A third transformed a smartphone screen into a treadmill for your fingers. That one earned about $120 in sales on its first day.