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What is Finance Charge?

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What is Finance Charge?

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Finance charge is a fee charged (interest) by the issuer of a credit card beyond the grace period. It is charged if you choose to pay for purchases or cash advances over time. It is important to know what method the issuer uses to calculate your finance charge. This can make a big difference in how much of a finance charge you’ll pay over time. Finance charges are regulated by state and Federal law. The lower the finance charge, the less you will ultimately pay for a purchase over time.

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