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.
Despite car and truck sales that motored past 16 million for the first time since 2007, recalls dominated the news for most of the year. General Motors GM 1.42% held center stage, dealing with cascading revelations about faulty ignition switches and recalling millions of vehicles. While GM opted for something approaching full disclosure of its missteps , publishing an report into company-wide fumbles, Japanese airbag maker Tanaka chose to stonewall. It left any remedies up to its beleaguered customers, notably Honda and Toyota. They are the ones who deal with the fallout of exploding safety devices that fatally fired shrapnel throughout the passenger compartment.
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
10. 迪皮卡-帕度柯妮 1000万美元
Total shipments of cellphones reached 560 million in 2016, up 8% year on year, the report showed.
Here are the 10 winners of the 2012 Ig Nobel Prizes given to scientists, writers, and peacemakers who make silly but thoughtful contributions to the world, or as the Annals of Improbable Research puts it, "first make people laugh, and then make them think." I can vouch for them making us laugh!
3.The End of the One-Child Policy
The artefact which has a flat base was found inside an ancient tomb in the Xuyi County in western Jiangsu in 2009. It has been kept at the Nanjing Museum the capital of Jiangsu Province.
10. China watchers inthe United States will continue to postulate China’s declining growth rate inthe face of evidence that it is stable at over 7%. China will grow fasterin 2014 than in 2013.
Shanghai Pudong International Airport reported the lowest punctuality rate last year. Only 52.4% of flights took off on time, with delays averaging 48 minutes.
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
4. Fiat. Brand love: -7% / Rank: 85
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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We learned that animals may make choices based on aesthetics.
Remedy: The tricky aspect of this regret is that it’s typically rooted in hindsight. Only after you’ve left the job and have moved on to something better, do you start beating yourself up for not making the leap sooner, even if it hadn’t been practical or possible. What you can do is to identify the factors that kept you in your former position as red flags to be aware of in the future and work to line up supports that will allow you to more quickly capitalize on other opportunities as they may present themselves. This could include reviewing and updating your resume with new accomplishments on a monthly or quarterly basis, keeping your LinkedIn account current, building up a contingency fund to allow you to feel less tethered to your current pay check and staying in the loop on industry news and gossip to be aware of where your skills and experience could be of value.
You're networking – yes! But you're networking so thoroughly within your industry that word gets back to your boss. "The world is small," says Andrea Kay, career consultant and author of "This Is How To Get Your Next Job," so this kind of thing does happen. When sharing your résumé and other job-search materials with new and old professional contacts, explicitly state that your hunt is confidential, Foss says。
Thank you to Aicha Nezzar for sharing this gem on the Facebook Group- Global English Forum.
Meme-sharing Facebook groups have become a new college tradition, Mic reported last week, with students across the country trading inside jokes and fighting battles with rival universities via screenshot and caption.
With best wishes for a happy New Year!
Consumers in many parts of the world have a preference for buying local which has helped boost the value of local brands.
"People didn't just search for the players and the teams. It was a cultural learning experience. It was the first World Cup in Africa, and people wanted to learn about post-Apartheid South Africa," she said. "People also wanted to find out what that noise was -- the vuvuzelas."
在我们有别于从前的失常状态中，她用所需要的一切使人们联想到生活的失重感。“这是一个时代的终结吗？这是美国的末日吗？”她在《When the World Was at War We Kept Dancing》（《当世界陷入战争之中，我们要继续跳舞》）这首歌中吟唱着。“不，这只是开始。”
They say that it is especially risky to use the same password for entertainment sites as for email and social networking accounts.
Album of the year: "Chief," Eric Church
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.
Everybody has heard by now that health care companies are promising hunting grounds for job seekers, and the New Year will see hiring perk up elsewhere, too.
The scientists’ analysis comes only a month after nearly 200 governments struck a new climate agreement in Paris that aims to stop global temperatures from rising more than 2C from pre-industrial levels, and ideally limit warming to 1.5C.
The approach has in some cases moved from the political fringes into the mainstream. Some leaders from Britain’s center-right, governing Conservative Party, for example, helped push a British exit, and since the referendum the new Conservative prime minister, Theresa May, has signaled sympathy with white identity politics.
When Dickens wrote about the French Revolution in A Tale of Two Cities, he did it with nearly a century of hindsight. Here, at the end of December, I don’t enjoy that luxury. As such, some of the trends I’ve written here are likely to remain in force for the foreseeable future, while others may have already begun to fade. As one of this period’s “noisiest authorities,” I insist only on your receiving this review with just one caveat in mind: Past performance does not guarantee future results.
Turkey’s president ratcheted up his diplomatic row with the Netherlands on Tuesday, claiming the country had a “rotten character” and blaming Dutch troops for the worst massacre in Europe since the second world war.
But I expect other banks to follow suit. Any effort to keep good people fresh and engaged, without paying them more, should be up for consideration.
Do you tend to hide your feelings from others?
The show started with a circus theme, complete with acrobats, a sword-swallower and a man on stilts. Justin Bieber, Rihanna and Bruno Mars performed.
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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
Recipient: Canadian Prime Minister Justin Trudeau
这些新数据是由一个叫做全球碳计划(Global Carbon Project)的追踪项目提交的，发表在了期刊《自然·地球科学》(Nature Geoscience)上。数据公布之际，正是联合国(United Nations)一次峰会召开前夕。此次峰会意在激发新的政治愿望来解决气候变化问题。科学家说，这些数据表明，如果要把长期的全球变暖问题控制在可以承受的范围内，还需要做出极大的努力。
The school is also second for its international course experience. More than four in five of its latest graduating cohort went on an internship abroad and over half studied in another country for more than a month.
Traditionally Chinese universities scored less well in international ranking tables compared to US and European incumbents in levels of teaching and research.
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Justin Bieber was the big winner of the evening at the American Music Awards last night, taking home four accolades including Favorite Pop/Rock Male Artist, Fa
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Many investors, it turns out, are siding with Mr Cook. After a tumultuous 2013, the share price has increased by around 50 per cent since that shareholder meeting, at one point taking its market capitalisation above $700bn.