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.
After years working with large consumer product companies like Stride Rite and Keds, Pieri grew frustrated with the difficulty mom-and-pop shops had launching new products. "The more innovative a product—as opposed to mainstream and "known"—the harder it was to get distribution," she explains. In response, she launched The Grommet, a discovery platform that connects customers with inventors' stories and their products, five years ago. Pieri, whose company helped launch products including SodaStream and Fitbit, counts HP CEO Meg Whitman as a mentor and has a side-gig as an entrepreneur in residence at Harvard Business School.
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.
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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
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Yes. With the US Federal Reserve likely to raise interest rates a few times in 2018, trading is likely to be choppy in emerging markets. Sometimes it may feel a bit like a rerun of the 2013 “taper tantrum”. However, average GDP growth will rise to 5 per cent, up from a forecast 4.7 per cent this year. This will mostly be because Russia and Brazil, which have stumbled, will bounce back.
China’s commercial banks are the control centre of the financial system and supply almost 70% of the financing that feeds the real economy.
珍妮弗?劳伦斯曾于去年凭藉《乌云背后的幸福线》(Silver Linings Playbook)获得金球奖，而今年再度登台领奖的她表示，获奖感言还是让她倍感紧张。
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今年，我最喜欢的人物报道可能是Kiki Zhao对中国目前读者最多的诗人之一余秀华激动人心的描写。余秀华是一个了不起的人。她患有脑瘫，过去41年里大部分时间生活在农村，在一张矮桌子上写作。高中没毕业的她说自己“在能读它们（名著）之前，我就知道如何写作了”。现在，她受邀前往斯坦福大学等地，她不愿被比作艾米丽·迪金森(Emily Dickinson)。
While the currency exchange limit has not changed, individuals are now required to disclose specific details on how they will use the funds. Funds can only be used towards current account spending such as tourism and shopping, overseas study, foreign medical care and consulting services. Real estate and other investment spending are explicitly forbidden.
Chinese consumer prices rose in January, an encouraging sign for the world’s second largest economy in a month characterised by turbulence in its financial markets.
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Islands in China come with many restrictions on their use and just 50 years of ownership.
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
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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 report also found that nearly a quarter of people use the same password for every site they are signed up to.
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Emissions have been falling gradually in recent years in most of the developed countries, in part because of economic weakness but also because of strengthening climate policies. Emissions in the 28-nation European Union fell 1.8 percent in 2013, despite increases in coal consumption in a few countries, including Germany and Poland. Emissions decreased sharply in Britain, Italy and Spain.
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Rose McGowan accused producer Harvey Weinstein of rape this time last year, sparking an avalanche of allegations in the entertainment industry and beyond.
总部位于芝加哥的竞争对手科尔尼(AT Kearney)也在为领导层变动做准备，计划于2018年第一季度投票决定接替约翰奥利格(Johan Aurik)的人选。管理合伙人最多担任两个任期，而奥利格已经期满。预计他的继任者将专注于让科尔尼做大，摆脱中等规模参与者之列。
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You think you're so smooth – the James Bond of covert job searching. Where he used wrist-mounted dart guns and camera-implanted rings, you have deceptive "dentist appointments" and a conveniently angled computer monitor to conceal secret résumé tweaking. Unfortunately, while you smugly sip a shaken martini – uh, iced coffee – you may not realize that your cover was blown. Your boss is onto you, and it's no wonder。
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.
Change is also under way at Bain & Company, which announced in November that Manny Maceda will become its global leader in March, the first of Asian heritage, and taking the reins of the Boston-based consultancy from Bob Bechek. Experts say Mr Maceda could be instrumental in helping the firm carve out new areas of expertise and edge away from its reputation as a generalist provider.
根据世界黄金协会(World Gold Council)的数据，自2008年以来全球黄金供应每年都增长，这一增长在去年陷入停滞。作为世界最大的黄金生产国，去年中国的黄金供应创纪录地下降9%，这是自1980年来中国的黄金产出第二次下降。
Ask questions immediately if you don't understand something. If you're in the front row and have been making eye contact, your instructor probably already knows by the look on your face that you don't understand something. A polite raising of your hand is all you need to do to indicate you've got a question.
One of the more notorious incidents was when Zhu Ling, a student at the prestigious Tsinghua University, was paralyzed when her roommate allegedly poisoned her with thallium in 1994.
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You've usually stated in pastinterviews that you have connections to your characters. In Aldnoah Zero, whichis currently airing, what do you think is your connection to Inaho?
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
China’s forex reserves — the world’s largest — have long been seen as the ultimate guarantor of financial stability, since they can be used to hedge against capital flight or to bail out domestic financial institutions struggling with a rise in bad debts.
Iron ore imports fell 12.3 per cent by volume in October from the previous month and 4.9 per cent from the same month a year earlier while coal imports were down 21.4 per cent from September and 30.7 per cent from a year earlier, according to Chinese customs data.
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Now Chinese investment in western economies is back on track to break a further record this year: during the first six weeks this year Chinese groups have announced $70bn in potential deals, although the number is highly provisional and not all such acquisitions will be completed.
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