Question


Steven

Chase credit card finance charge??

I was looking at this month's statement and I noticed that Chase charged me a "FeePURCHASE *FINANCE CHARGE*(Other)" of $3.19 I usually pay in full every month but last month, I paid half but well over the minimum payment due. Can you still incur a finance charge even if you pay the minimum payment due?

1 year ago - 6 answers

Best Answer

Chosen by Asker

If you carry any balance, you will incur finance charges. They are not calculated just on the amount you did not pay. Finance charges are usually calculated based on the average daily balance -- they add each day's balance then divide by the number of days. The only way to avoid finance charges is to pay in full each month.

by bdancer222

1 year ago

Asker's Rating: 

Other Answers

Read the Terms and Conditions which came with your card.

by Dont_taze_me_bro- 1 year ago

Yes. If you still have a balance, which most likely you did from paying just over the minimum, a finance charge will be incurred based on that leftover balance.

by Matt- 1 year ago

Matt is correct. If there is a balance left on the card after the due date, interest will be charged on that balance. In order to avoid charges in the future you will need to pay off the balance in full before the due date.

by Jeremy Kitching- 1 year ago

People who borrow money get charged interest. You didn't pay in full, so you borrowed.

by Bob- 1 year ago

Yes, this happens when you "rollover" a balance. To avoid finance charges, you MUST pay your total balance in full with in your grace period to avoid them. Minimum payments doesnt stop finance charges.

by motifman2005- 1 year ago