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.
Russia's economy is the 10th largest in the world, producing little of value beyond hydrocarbons. Corruption and rent-seeking extract an enormous economic toll. It remains burdened with Soviet era infrastructure, and its ability to meet the educational and medical needs of its population is rapidly declining.
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
Fifteen Chinese nationals have been charged with developing a fraud scheme in which they paid imposters to take entrance exams, including the SAT, and gained acceptance to elite American colleges and universities, the US Department of Justice said on Thursday. Conspirators were paid up to $6,000 each time they used counterfeit Chinese passports to trick test administrators into thinking they were the person who would benefit from the test score, a federal grand jury charged.重点单词
Around 10 gigabytes of photos have allegedly been released. Jiedaibao, a popular online peer-to-peer lending platform, is involved in the incident, the Beijing Times reported on Dec. 1.
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So with such a strong South American contingent, where will the main challenge come from ? Well, the big guns from Europe is the obvious answer. And where else could you look for a team of Champions than Spain. Having won the last World Cup, sandwiched between two European Championship triumphs, this is a team that not only knows how to play fantastic football, but that knows how to win. So whilst Messi and Ronaldo get all the annual plaudits and player of the year titles, the likes of Xavi and Iniesta go about winning all the major trophies. So will they be as string this year ? Well, worryingly for the rest of the world, yes. Not only are most of the old guard still there but talented youngsters such as Koke and Thiago Alcantara have joined the ranks. Not only that, but they've managed to grab a prolific striker, Diego Costa, from under the noses of the host nation, with the Atletico Madrid forward opting to play for Spain, rather than the nation of his birth.
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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Mr Yao, 46, is based in the southern Chinese city of Shenzhen and first made his fortune in real estate. But it was his Baoneng Group’s foray into insurance and subsequent raid on Vanke, a cross-city property rival, that fuelled the estimated ninefold increase in his net worth in the space of a year.
The data highlight the growing anxieties in some sectors of industry about what they see as unfair competition from Chinese rivals.
The University of Pittsburgh team used stem cells made from skin to make MCPs, a special kind of cell that acts as a precursor to cardiovascular tissue. They then placed these cells on a 3-D scaffold designed to support a mouse heart. Within 20 days, the new heart began beating at 40 to 50 beats per minute.
Any 'jobs recovery is years away in most cities, ' says USA Today. And in reviewing famed analyst Meredith Whitney's new book, 'The Fate of States, ' she warns that 'excessive pensions crowd out both liberal goals such as education spending and tax cuts that conservatives want.'
With U.S. e-commerce activity approaching 10% of all retail sales, more merchants are shopping around for easy-to-use platforms that get them selling online quickly.
For: A huge box office hit that could benefit from a slowly-changing Oscar voting demographic.
A fallen tree blocks a street in Washington, DC, on Tuesday.
For starters, breaches like that of Bitstamp and the much larger (valued at about $400 million at the time) 2011 hack of the exchange Mt. Gox are often misconstrued as security issues with the currency itself. But they are only signs of flaws in those particular exchanges and not a sign of an issue with the underlying technology. And it is the underlying technology behind bitcoin that most excites. As we wrote in the “Shape the Future” package of our January 2015 issue, most of the vocal enthusiasts so bullish on bitcoin—from big-name entrepreneurs like Marc Andreessen to the developers and miners who spend their days refreshing the bitcoin Reddit page—are more interested in the applications that can be built on bitcoin’s “block chain,” the currency’s foundational backbone, than they are in bitcoin as a monetary system. The block chain allows the secure exchange of any form of value between two entities.
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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That's a fraction of their earning power -- Hillary and Bill Clinton banked $10.6 million mostly from speaking fees and royalties in 2015, while Trump said he made almost $560 million.
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Let’s never spend our New Year apart.让我们永不独享新年。
The Microsoft founder's net worth is $86 billion, up from $75 billion last year.
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节目19 歌曲《一辈子朋友》，杨坤 张靓颖
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
How has your trip to the US sofar this summer?
Every year since 2003, Shanghai Ranking Consultancy has been releasing its rankings of the world top 500 universities based on third-party data.
根据中国海关总署(General Administration of Customs)发布的数据，12月份以美元计的出口额同比减少6.1%至2094.2亿美元。这一跌幅比经济学家预期的中数多了2.1个百分点，也大于11月份修正后1.6%的跌幅（修正前该数字为增长0.1%）。
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transport（n /v 运输；狂喜），trans转移，port搬运
“The steady and now record-breaking rise in average global temperatures is not an issue for another day,” Michael R. Bloomberg, the former New York mayor who is spending tens of millions of dollars of his personal fortune to battle climate change, said in a statement. “It’s a clear and present danger that poses major economic, health, environmental and geopolitical risks.”