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
"Sydney's housing prices shot up because foreign investors are buying trophy assets, in places like Bondi," says Elliot.
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
The report notes that China's game developers have been considering subscription models since earlier this year. Among the top 10 games, four are subscription-based titles and two were commercially launched this year, including Shanda Interactive Entertainment Ltd.'s (SNDA) major new title, AION. The Cnzz.com says that a shift to the subscription model would be more likely to create a sense of equity and fairness in the games, because the top players would be those who spend the most time playing, instead of those who spend the most.
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Angela Merkel's salary as German chancellor is set at 218,400 euros a year ($242,000). The chancellor got a 2% pay rise at the beginning of March, and will get another 2% next February.
With its goal of universal healthcaresystem coverage by 2020, Chinais expected to transform the medicine market, becoming the second largest afterthe US.In the next five years, Chinaexpects per capita spending to grow by 70 percent.
Economists had likewise expected year-to-date urban fixed asset investment, a rough proxy for long-term spending, to remain at September’s level of 8.2 per cent year on year growth.
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
All those totals are higher than a year ago, with the largest growth being in market value (up 13% year-over-year). These firms employ 90 million people worldwide.
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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There is still tremendous untapped potential in China-Russia economic and trade ties and the two economies are highly complementary. The goals set for the two-way trade can be achieved.
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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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3所在这份榜单上叱咤多年的重量级学府——哈佛商学院(HBS)、伦敦商学院(LBS)和麻省理工斯隆管理学院(MIT Sloan School of Management)的排名下滑。哈佛商学院的排名下降两个位次，今年排在第四，这是这所位于波士顿的学府9年来首次跌出前三甲。伦敦商学院下滑3个位次，排在第六，为14年来最低。麻省理工斯隆管理学院的排名下滑至第13位，为10年来首次跌出前10。
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
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大多数专业顾问（包括我在内）都会对其客户大力鼓吹全球化多元投资组合的好处，然而，在12月看来，残酷的现实是2014年更像是个平局，而非大获全胜。事实上，上周摩根士丹利资本国际全球指数同比仅上涨了2％，而摩根士丹利资本新兴市场指数（MSCI Emerging Markets）和追踪美国以外发达国家市场的EAFE指数双双下跌了近5％。具有讽刺意味的是，除美国以外全球唯一一个表现上佳的市场——中国大陆股市的上证综指（上涨了45％），也是唯一一个美国投资者无法进入的市场。
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The biggest story of the festival had nothing to do with films. It was about shoes. On Tuesday trade magazine Screen reported that a group of women had been denied access to a screening of Todd Haynes' Carol because their footwear – flat shoes with rhinestones – was unsuitable for the red carpet. Further tales came tumbling forth, social media erupted in indignation and soon enough we were soon dealing with a fully fledgedscandale. The Cannes press office rushed out a garbled statement: “Rules have not changed throughout the years (Tuxedo, formal dress for Gala screenings) and there is no specific mention about the height of the women's heels as well as for men's. Thus, in order to make sure that this rule is respected, the festival's hosts and hostesses were reminded of it.” Well, that cleared that up. Perhaps wisely, press screenings are exempt from any dress code: scruffy journalists are free to ascend the Palais' steps in flip flops and trainers.