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.
My grandmother’s favorite poem was Invictus by William Ernest Henley. My father hung a copy of it on our kitchen wall, so I grew up reading it every day: “I am the master of my fate; I am the captain of my soul.” I think the best advice I can give anyone – especially someone just starting out in business – is to embrace your role as master of your own fate. Recognize opportunities when they arise and get comfortable saying “Yes.”
It was all work, work, work for the BBC Culture team and parties, alas, were few and far between. But the rest of Cannes was painting the town red. In 2013 we tried to calculate the amount of champagne consumed at the festival by contacting Piper Heidsieck, “the official drink” of the festival, but they declined to comment – though judging by the merry faces and staggering gaits of some on the Croisette, it's safe to assume a colossal quantity. At the party for Matteo Garrone's Tale of Tales on the first weekend, the champers flowed freely and the revellers stayed on until the early hours. When the BBC's Rebecca Laurence spoke to one of its stars the following morning and asked how many hours sleep he'd had before their interview, he simply narrowed his bleary eyes and held up two fingers.
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
Unfortunately for May, the big drop in the pound since the Brexit vote means her salary has plunged in dollar terms.
Compared with an average age of 45, 52-year-old Jack Ma is the oldest among the top 10 IT tycoons.
People who are skeptical about this argument just need look at smartphones and personal computers, which have served as the technological driving force of the past century.
Bubloons are a hybrid between bubbles and balloons.
《火线警探》，FX，1月20日。副警长瑞兰·吉文斯（Raylan Givens，蒂莫西·奥利芬特[Timothy Olyphant]饰）与他的朋友兼天敌博伊德·克劳达（Boyd Crowder，沃尔顿·戈金斯[Walton Goggins]饰）之间爱恨交织的关系贯穿了整部剧，不管怎样，这个问题将在第六季，也就是最终季中得到最终解决。
HEC Paris and London Business School have tightened their grip on the top of the Financial Times rankings of pre-experience and post-experience Masters in Finance programmes respectively, having dominated the finance rankings since they were first published in 2011.
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
Data also showed that the average salary for the top 100 colleges on the rankings increased by 1,818 yuan over last year, up 22.8 percent.
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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LBS moves back to the top place, thanks in part to the highest salary, at $167,000, and being second best in value-for-money terms. The school is first for international course experience and second for alumni mobility.
Helu came in fourth in Forbes' 2016 list of 1,810 billionaires, behind Gates, Zara's Amancio Ortega and business mogul Warren Buffett, respectively.
Morgan Stanley CEO James Gorman will do an about-face on the bank's 'lower risk' corporate strategy.
If a child on the street who has nothing, is willing to share, why are we who have everyting still so greedy? 如果一个孩子在自己一无所有的时候都能愿意分享，为什么拥有一切的大人却如此贪婪？
'People in the community are affected by what I write, ' he says.
But many foresee an economic collapse, arguing that a prolonged eurozone crisis coupled with a property bubble could render vast swaths of Chinese industry unprofitable. This would reveal hidden financial vulnerabilities and feed a downward spiral. Others believe that Beijing has ample resources to avoid a crisis, but argue that, with a growth model based on infrastructure and land sales, and with exchange and interest rates rigidly controlled, it may not have all the necessary tools at its disposal.
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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The details of her character are being kept under wraps.
Theresa May is still facing resistance from within her own party. Vince Cable, the Liberal Democrats’ sage and leader, still thinks Brexit may not really happen.
阿方索?卡隆(Alfonso Cuaron)凭藉广受好评的全球热门太空科幻影片《地心引力》(Gravity)赢得最佳导演奖。《地心引力》、《美国骗局》和《为奴十二年》均有可能成为今年奥斯卡奖(Academy Awards)的夺奖热门，本周四将公布今年奥斯卡奖提名名单。（与金球奖不同，奥斯卡奖还设置技术类奖项。）
By contrast, the strengthening of the Brazilian real helped the surge in coffee and sugar prices as the country is the largest producer of both.
Final predictions: Weak economic growth will continue into 2010. By spring, the Obama White House will be forced to the political center and U.S. businesses will finally believe in a modest recovery.
1. What big brother is eating isn’t noodles, but loneliness.
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Luckily, the singles are only half the story with Reputation. On "Dress," she's high on the rush of a new romantic thrill; on "New Year's Day," she's trying to figure out what she has after the party's over.
Benmosche's abrasive morale-building exercise at AIG will take hold. The U.S. pay czar will give Benmosche leeway on pay. And a continuing rebound in the markets will give AIG a shot at repaying a good chunk of taxpayer money.
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.
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The advantages for schools seem clear: they enjoy the benefits of bright graduates who would otherwise have gone straight into consulting.
由美国演员Jared Leto领衔的“火星三十秒”拿到了最佳另类音乐奖，同时还有Lana Del Rey，Lorde，The XX和Imanine Dragons等人提名。
China’s commercial aerospace ambition has long been known, but a few recent milestones are bringing it closer to realization.
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两周后，伯恩海默等几十位著名的早期绘画大师作品交易商出席伦敦的夜间拍卖会。过去，他们通常会在这些拍卖会上购买一些作品，以备在第二年3月的荷兰马斯特里赫特欧洲美术博览会(Maastricht European Fine Art Fair)上展示。但是由于卖家们鼓励苏富比和佳士得报出更高的估价来争夺自己的拍品，所以拍卖行只针对少数富豪进行宣传，现场竞价十分冷清。
Not because I am happy to see the end of what was one of television’s smartest series, a pioneer of what is now generally accepted as the current golden age of small-screen serials.