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
With assets under management of $200bn, according to Nomura Securities, Japan’s ETF market is about $50bn larger than all other Asia-Pacific ETF markets put together. At the end of August, the market value of the BOJ’s ETF holdings was $175bn.
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With an increase of 7 percent over 2013,total spending on medicines will amount to $1.06trillion in 2014, says the report"The Global Use of Medicines: Outlook through2018" from the IMS Institute for Healthcare Informatics, releasedThursday.
本文作者为卡内基国际和平基金会(Carnegie Endowment)高级研究员、世界银行(World Bank)中国业务局前局长，译者/何黎
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 trade with the rest of the world fell sharply in October from a year earlier, with imports of raw materials particularly hard hit as slowing Chinese investment feeds through into weaker demand in the world’s biggest trader of goods.
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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The Tsinghua-Insead EMBA programme, launched in 2007, entered the FT rankings with a bang in 2012, going straight into fourth place with its very first cohort. The programme has since been ranked second, third, and finally has achieved first place in the rankings this year.
5. Geopolitical flashpoints.In the not too distant past, a small supply disruption would send oil prices skyward. In early 2014, for example, violence in Libya blocked oil exports, contributing to a rise in oil prices. In Iraq, ISIS overran parts of the country and oil prices shot up on fears of supply outages. But since then, geopolitical flashpoints have had much less of an effect on the price of crude. During the last few weeks of 2014, violence flared up again in Libya. But after a brief increase in prices, the markets shrugged off the event. Nevertheless, history has demonstrated time and again that geopolitical crises are some of the most powerful short-term movers of oil prices.
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The letter mysteriously arrived at the California University of Pennsylvania, in the north-eastern state of Pennsylvania, 10 days ago. Written to Mr Moore, the two-page letter was postmarked 20 February 1958 and signed "love forever Vonnie".
Samsung’s comment was shorter: “Media reports of the acquisition are groundless.”
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 does not want to see a trade war between the US and China. That would not make our trade fairer and cause loss for the both sides.
Will Washington's tentative truce continue?
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“LBS has broadened my profession horizons and opened international career opportunities,” said one graduate. He added: “In the three years after graduation I have worked in the US, Canada and Hong Kong, while rotating in different businesses from corporate banking to debt capitalmarkets”.
The punctuality rate of China's major airports is still far from satisfactory, according to the latest report published by local aviation statistic company VariFlight.
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For example, taxi drivers who take a detour or refuse passengers can also be fined a maximum of 2,000 yuan.
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
5. Repeats & highlights are as good as the main match, so am gonna watch them.
根据贝克?麦坚时国际律师事务所(Baker & McKenzie)和荣鼎咨询(Rhodium Group)的一份报告，2015年中国国有企业和民营企业在欧洲（包括挪威和瑞士，以及欧盟）总共投资了230亿美元，创历史新高；在美国投资了150亿美元。
Most of the cellphones sold in 2016 are smart phones installed with the Android system and 4G ready, according to the report.
The letter surfaced in a Pennsylvanian university mailroom earlier this month.
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