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Thursday, 06 March 2008 |
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By Peter Kenny
 Credit card use has many associated fees and charges like annual fees, cash advance fees, over-the-limit fees, the APR, late payment fees, returned item fees, etc. There is no way to escape most of these fees; it is just the cost of making purchases via the lines of credits offered by the many card companies operating today.
Another of the fundamental costs that is billed to your cardholder account is the finance charge. What is it? Well, the finance charge is the actual dollar amount that you are required to pay to make use the credit line attached to your card. As with many of these other fees, the finance charge will vary depending upon factors like the outstanding balance of your card account and the APR.
As for the APR, that will vary depending upon the card company's policies. Outstanding balances, on the other hands, may be determined in a number of ways depending upon the methods of a particular credit card company. It is the outstanding balance that will have the most impact upon the amounts you |
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Last Updated ( Thursday, 06 March 2008 )
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