The total of all costs a consumer must pay to obtain credit; may be called interest, service or carrying charges. see "late payment charges"
The amount you are charged to use credit. Back to Glossary Index
are all interest charges, any transaction fees, and any other fees combined. The sum of all finance charges is your cost of borrowing money from the credit card issuer. Your monthly account statement, Customer Agreement, and/or Disclosure Statement describe how finance (interest) charges are calculated by your credit card issuer.
The price paid to a lender for the use of borrowed money. Interest is charged as a percentage of your outstanding balance (purchases and charges reduced by payments or credits posted). This percentage, or interest rate, can vary from card to card.
Total cost of credit expressed in dollars which includes interest and fees charged for a loan. It may also include private mortgage Insurance premiums if required by the lender.
Certain charges that can be incurred when using a credit card. Finance charges include interest costs.
The fees charged by a lender related to a credit card or line of credit.
Clients & Profits does not automatically add finance charges to overdue client invoices. But it will calculate and print the finance charge amounts on the Client Account Aging report. Each client can have its own finance charge rate; enter it into the client Notes window.
The sum of all charges payable directly or indirectly by the borrower and imposed directly by the creditor as an incident to or as a condition of the extension of credit. Finance charges must be included on truth-in-lending disclosures and described as the total dollar amount the consumer pays for the use of credit.
The amount paid for credit - includes interest and service fees.
The total costs charged to a borrower for making a loan. The charges may include, but are not limited to, interest, points, loan fees, carrying charges and per-diem interest. Prepaid finance charges are paid separately by cash or check, or withheld from loan proceeds before the consummation of a loan transaction.
are the cost of consumer credit expressed as a dollar amount. They include any charges, such as interest and fees, paid by the consumer to the creditor for obtaining a loan.
The total cost of interest and other charges, direct or indirect, the borrower must pay to obtain credit.
The total of all costs paid to the lender by the borrower directly or indirectly as an incident to the extension of credit. 'Me Truth-in-Lending Act requires that consumers be told of the following charges: interest, finder and origination fees, discount points, service charges, credit report fees, and other such charges.
Interest charged on loans made to you. For example, the interest rate on a credit card or the interest rate on a car loan is a finance charge.
A set percentage charged to the borrower by a lender. To calculate this subtract the total of payments from the amount borrowed.