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
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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
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He added that “almost every major Korean company, including Hyundai Motor and AmorePacific, relies heavily on Chinese sales”.
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
adj. 被识别的；经鉴定的；被认同者 v. 鉴定（id
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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Three leading energy agencies recently said production from outside the Organization of the Petroleum Exporting Countries would increase this year, much of it from U.S. shale. Added to that is the possible return to market of millions of Middle East barrels as Iran, Iraq and Libya potentially ramp up production. All of that is set to press on prices.
Housing is finally recovering. Home values are up 7% nationally through the first nine months of 2012, according to the S&P/Case-Shiller index. Meanwhile, home-building is gaining traction, which means more jobs for construction workers, contractors and builders. Some 29,000 new construction jobs have been added since May. There's 'a significant thawing in labor conditions in the construction market,' notes Andrew Wilkinson, economist at Miller Tabak & Co. It's not just construction crews. Retailers who cater to Americans furnishing, repairing and improving their homes also will need to hire.[qh]
The report said."It is important to balance economic measures of societal progress with measures of subjective well-being to ensure that economic progress leads to broad improvements across life domains, not just greater economic capacity," the report said.
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.
For the fourth year in a row, the top five places continue to be dominated by the same five intercontinental EMBAs. Tiemba came top this year not by spectacularly outperforming its rivals but thanks to a strong performance across most indicators. In particular, the alumni have the second highest salary on average ($324,000) behind alumni from the Kellogg/HKUST programme ($408,000). Tiemba is also ranked second for career progression and fourth for work experience.
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All employees receive a $25 monthly credit to the DreamWorks PrintCenters at the Glendale and Redwood City campuses. Charged only for supplies, the studio is able to offer inexpensive services that range from printing photographs to creating greeting cards and personalized calendars.
Yunge from the Desert is based on an online novel with the same title by Tong Hua. It is about love triangle of a girl named Yunge, a nobleman, and the emperor in the Han (206BC-220AD). Nearly premiering in the same month as Nirvana in Fire, Yunge was much outflanked by the latter. It was criticized for its poor knowledge of history. To some audiences, charming Angela Baby herself became the only appeal of the adaptation.
For now, D'Aloisio isn't touching the money. 'I'm too young to appreciate the value of it,' he insists. 'I don't have a mortgage, I'm 17. To me, a hundred pounds is a lot. Take that as a benchmark.' Though he's not allowed to comment on Summly's sale price, when pressed he allows that he might one day like to deploy his newfound riches as an angel investor. No one around him seems to think there's a danger that the money will ruin him or that he'll be tempted to spend the rest of his life dissipating on a beach. 'He's pretty well grounded. You wouldn't believe how frugal he is,' says Diane. 'He's got a great engine,' says Lou. 'He won't stop at this.'
New employees at the company's Tulsa headquarters have little time to be shy: on their first days, they're seated at desks with a tub of candy. Colleagues often stop by and introduce themselves while grabbing a snack.
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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
Employment is crucial to ensuring people’s well-being. We will focus our efforts on facilitating employment to see that through their hard work, people can create wealth and realize their full potential.
Summly and Yahoo refused to comment on the deal’s terms.
陆金所是最大的一家。它是中国平安保险(Ping An Insurance)的子公司，平安也是陆金所最大的股东。
A report from the ministry showed that employers recruited 5.2 million workers through public employment service agencies in the first quarter, dropping 229,000, or 4.5 percent, from the previous year.
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