Asked in Credit and Debit CardsCredit
Credit and Debit Cards
Credit
Monique's previous credit card balance is 199.26 and she has a monthly finance charge of 1.5 How much will the credit card company assess in finance charges on this balance?
Answer

Wiki User
March 11, 2010 11:17PM
$2.99
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Asked in Accepting Credit Cards, Credit and Debit Cards, Credit
Sara had a previous balance of 449.13 carried over from last months credit card bill The credit card company assessed a 6.74 finance charge What is Saras new balance?

$455.87, assuming Sara has not made any additional charges on
her card since receiving the previous credit card bill.
When a credit card company assesses a finance charge, the
finance charge ($6.74) is added to the existing balance ($449.13)
to arrive at a new balance ($455.87).
As an aside, if possible, Sara should revolve (carry) her
balance on a credit card that charges a lower rate since the $6.74
finance charge represents 18% (17.7%) on an annualized basis.
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What is the best way to do a credit card balance transfer?

Before you transfer your balance, read the fine print on your
credit card agreement. Some agreements charge fees for balance
transfers. After you have read the agreement and understand the
possible charges you may face, gather all the necessary information
about the card you want to transfer the balance from, call (or
perhaps go online) the credit card company you wish to transfer
your balance to, give them all the necessary information, and
transfer your balance.