What do finance charges of a credit card mean?
What do finance charges of a credit card mean?
Loading…
I am a college student, have no credit, and am looking for a nice solid reward card that gives cash back. I was looking at the AOL Visa Rewards card, but it has a minimum $1.00 finance fee, what does that mean?What do finance charges of a credit card mean?
Random Posts:
Also, any other card recommendations?
Thanks.
Article Local Url : What do finance charges of a credit card mean?
-
No matches
Comment by shelcom
That’s the interest charge. I can’t believe you’re in college and couldn’t figure that out.
Comment by Notredame
It means for instance if you have a balance of $50.00 with an APR at 12.99%. The interest you pay for that billing cycle is .53. If you paid off that entire balance by the due date, you’ll pay no interest.
However, if you decided to pay only $15 minimum, the remain will be approximately .32 in interest. Instead of charging you ..32 interest, credit card company will raise that to a minimum finance charge of $1.00. Which means anything less than $1.00 in finance charge during that billing period will raise to at least $1.00 whether your finance charge should be .30 or .80, the minimum will be $1.00
Some company charge the minimum finance charges is $1.50
Comment by brady ewart
Discover® More Card
* 0%Intro APR* on Purchases and Balance Transfers for 12 months
* 5% Cashback Bonus� on Get More purchases in popular categories that change four times a year like home, apparel and more*
* Up to 1% Cashback Bonus on all other purchases automatically*
Apply online at: http://www.credit-card-gallery.com/Discover.html
Comment by timpoli
I found interesting information about your answer Here:
credit cards:
http://all-debt-consolidation-loan.blogspot.com/2007/07/chase-credit-cards.html
Good Luck!