Finance charge


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Finance charge

The total cost of credit a customer must pay on a consumer loan, including interest.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Finance Charge

The cost of obtaining financing, especially through debt. Often it refers to the interest one must pay, expressed as the annual percentage rate. See also: Cost of capital.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Finance charge.

The finance charge, or total dollar amount you pay to borrow, includes the interest you pay plus any fees for arranging the loan.

A finance charge is expressed as an annual percentage rate (APR) of the amount you owe, which allows you to compare the costs of different loans.

The Truth-in-Lending Law requires your lender to disclose the APR you'll be paying and the way it is calculated before you agree to the terms of the loan.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

finance charge

The total of all direct and indirect costs associated with obtaining credit.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
However, I'm still not satisfied with their explanation on how they calculate the finance charges on the second month.
Although the focus of the hearings was HOEPA, there was also discussion of TILA's finance charge and the APR.
Thus the Duo enables Fifth Third to move at least some of its debit transactions authorized by signature outside the Durbin cap and allow it to preserve its higher interchange, as well as build finance charges and other fee income associated with credit cards.
A third major factor that differentiates credit card lending from other types of bank lending is that the interest earned on credit card balances is substantially less than the stated rate might suggest because convenience users (those who pay their balances in full each month) generate little or no revenue from finance charges.
After paying the full amount due of Dh18,872.85, including the unjustified finance charges, as per the following statement received on February 12, well within the due date of March 9, I registered a finance charge reversal request.
"The daily periodic rate of finance charge for each billing cycle shall be a rate computed by adding a margin ('Margin For Cash Advances') to the value of the index and dividing by 365.
"Factoring good, ready source of cash, but if you rely on it totally, the finance charge could slowly eat into your profits."
For the full year, we are updating our guidance for improvements in the finance charge and taxation.
Moola also failed to disclose the finance charges in terms of pesos and centavos and the percentage that the finance charge bears to the total amount to be financed.
A number of factors contributed to the decline of SEC net earnings in 2018 4Q, mainly the debt cancellation of Municipal fees, implementing of International Financial Reporting Standard No.15 (IFRS 15) and the rise of finance charge. --SPA 15:02 LOCAL TIME 12:02 GMT 0011 www.spa.gov.sa/1882663
Cohen pleaded guilty to the campaign finance charge in August and to making false statements in November.

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