How to Calculate the Finance Charge on a Credit Card Balance?

Answer With so many consumers using credit cards today, it is important to know exactly what you are paying in finance charges and how to calculate them. Different credit card companies use different meth... Read More »

Top Q&A For: How to Calculate the Finance Charge on a Credit...

What is a finance charge on my credit card?

A finance charge is any fee added to the charged balance of a credit card. This could include interest fees, service charges, late fees and fees incurred for balance ... Read More »

Do I have to pay a finance charge if I pay my credit card in full?

Credit-card terms are outlined in a disclosure provided in accordance with the Truth in Lending Act. Typically, a grace period of 21 to 25 days exists from the time the statement is issued. As long... Read More »

How do I calculate credit card finance charges?

Find the Periodic RateFind the annual percentage rate, or APR, for your credit card on your statement and divide by 12 to find the periodic rate, which is applied to your outstanding balance monthl... Read More »

Can a credit card company charge to transfer a balance?

Yes, a credit card company can and will charge for balance transfers. In most cases, the typical fee for a balance transfer is either 3 percent of the balance transferred or a minimum fee of $5. So... Read More »