A finance charge of 1% will apply monthly to any unpaid billed balance from the previous Regular Monthly Billing Statement. It is calculated by taking the last billed balance, subtracting any credits applied, and multiplying the remainder by 1%. This finance charge will be charged each month until your account is paid in full.
This is the interest charged to a revolving credit card account, billed monthly. The monthly finance charge can be determined roughly by dividing the APR by twelve and multiply it by the debt or credit balance.
The total dollar amount that a loan will cost. This includes all interest payments during the term of the loan, interest paid at closing, if any, origination fees, and other charges paid to a lender or third party.
The dollar amount you pay to use credit (Besides interest costs, it may include other charges, such as cash advance fees that are charged against your card when you borrow cash from the lender. (You generally pay higher interest on cash advances than on purchases check your latest statement )
The amount of money you're charged for using credit. If you don't pay off your full amount when due you will have to pay this finance charge. But there are normally other charges levied such as cash advance fees. You can use your Credit Card to withdraw cash from an ATM or a bank counter and this withdrawal normally suffers an immediate interest charge as well as other charges. More information click here TOP 3 CREDIT CARD SEARCHES FROM FIND.co.uk Credit Cards Amex Blue Card MBNA Cards Reward Cards MBNA Points Card Egg Reward Card Affinity Cards Virgin Egg Card
The finance charge is the amount of the interest or cost of credit calculated at the interest rate over the life of the loan plus the pre-paid finance charges and the total amount of any required mortgage insurance charged over the life of the loan. It is the dollar version of the annual percentage rate (APR).
Your finance charge is the total of all the interest you would pay over the entire life of the loan, assuming you kept the loan to maturity, as well as all prepaid finance charges. If you pre-pay any principal during your loan, your monthly payments remain the same, but your total finance charge will be reduced.
The cost in dollars of borrowing funds from a lender. This will be determined by the interest rate applied to the amount borrowed as well as any fees added and the length of time that elapses before the loan is fully repaid.
The cost of credit as a dollar amount. It includes any charges payable by the borrower as a condition of the loan. The finance charge includes the total amount of interest, points, loan fees and other credit charges paid for the term of the loan.
The cost of credit expressed in dollars. It is the total amount of interest calculated at the interest rate over the life of the loan, plus Prepaid Finance Charges and the total amount of any required mortgage insurance charged over the life of the loan.
The finance charge is a disclosure that appears on the Truth in Lending Act Disclosure Statement. It is intended to show the cost of your loan as a dollar amount. It includes (1) interest that will be charged over the life of the loan and (2) some up front fees (prepaid finance charges). Prepaid finance charges include such items as mortgage broker fees; lender fees; points; and some closing agent fees. Any closing fees that are unreasonably high should also be included. You may also be required to pay other fees that will not be included in the finance charge.
The total amount that a loan will cost its borrower, including interest payments, origination fees, and other brokerage and lender charges; it does not include credit report, appraisal, and title search costs.
The total dollar amount your loan will cost you. It included all interest payments during the term of the loan, any interim interest paid at closing, your origination fee and any other charges paid to the lender or to a third party as a condition of the extension of credit. Certain charges like the appraisal, credit report and the title search charges are not included in the finance charge calculation.
The cost of credit as a dollar amount (i.e. total amount of interest and specific other loan charges to be paid over the term of the loan and other loan charges to be paid by the borrower at closing). Loan charges include origination fees, discount points, mortgage insurance, and other applicable charges. If the seller pays any of these charges, they cannot be included in the finance charge.
The finance charge is the cost of consumer credit expressed as a dollar amount. It includes the amount of interest you will pay during the terms of the loan, origination points and certain other items. Some closing costs are not treated as finance charges.
The total dollar amount your loan will cost you. It includes all interest payments for the life of the loan, any interest paid at closing, your origination fee and any other charges paid to the lender and/or broker. Appraisal, credit report and title search fees are not included in the finance charge calculation.
Cost of credit, including interest, paid by a member for a consumer loan. Under the Truth in Lending Act, the finance charge must be disclosed to the member on closed-end loans, along with the term of the loan, or upon request.
The cost of credit expressed as a dollar amount. This is the amount charged to the purchaser of a vehicle by the lender for use of money and allows the vehicle to be paid for over time instead of at the time of purchase.
A finance charge is any fee or charge representing the cost of borrowing money. It includes not only interest but other charges as well, such as transaction fees, balance transfer fees, and foreign currency conversion fees.
The interest you pay on money you borrow, plus certain fees for arranging the loan, is known as a finance charge. The term also refers to the interest you owe on outstanding balances on your credit cards. A finance charge is expressed as an annual percentage rate (APR) of the amount you borrow, and it can be calculated in a number of different ways. The Truth-in-Lending Law requires your lender to disclose the APR you'll be paying and the way it is calculated before you agree to the terms of the loan.
Cost of credit, including interest paid by a customer for a consumer for a consumer loan. Under the Truth in Lending Act, the finance charge must be disclosed to the customer in advance. See also Consumer Credit Protection Act of 1988.
In United States law, a finance charge is any fee representing the cost of credit, or the cost of borrowing. It includes not only interest but other charges as well, such as transaction fees. Details regarding the federal definition of finance charge are found in the Truth-in-Lending Act and Regulation Z, promulgated by the Federal Reserve Board.
A type of interest rate that is fixed and will not change in relation to other fluctuations in other indexes. If the fixed interest rate is 9.5%, it will not change for the time period agreed between the cardholder and the account issuer.