Reply
New Contributor
Cprman
Posts: 62
Registered: ‎05-04-2008
0

Minimum Finance Charge?

I was looking at the fine print. No annual fee, but what's this $1.00 minimum finance charge. Do I have a monthly fee? Or do I get charge at least 1.00 for carrying a balance. A bit confused. I figure if I have a bunch of cards that could add up.
5/5/08 EQ 696
9/13 EQ 796 Thanks myfico!
Amex Blue Cash 15K, PenFed Cash Rewards 18K, Macy's 1K, Chase Freedom 6K, Cap1 Quicksilver Visa 15K
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007
0

Re: Minimum Finance Charge?

Normally that means that IF you carry a balance and incur a finance charge, the minimum that they will charge you is $1.00

 

If you DO NOT incur a finance charge it will be zero

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}