APR vs. Interest Rate
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What is a Finance Charge on a Credit Card?
5 min read
Last Updated: March 10, 2024
Key Takeaways
- Any fee you incur from using your credit card is a finance charge.
- Interest, penalty fees, annual fees, foreign transaction fees, cash advance fees, and balance transfer fees are all finance charges.
- Read your card’s terms and conditions to understand what finance charges you may incur and how your credit issuer calculates each fee.
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