Business / Taxes / Minimum Finance Charge: A minimum finance charge is a fee collected by a credit card issuer each billing period. It applies when the actual finance charge you owe isn’t equal to or larger than this minimum. For example, if the minimum finance charge is 50 cents, and you owe $5 in finance charges, the minimum would not apply. But if you had no other finance charges, you’d owe the 50 cents. Not all issuers impose a minimum finance charge, so if you regularly pay your bill in full and on time, you may prefer an issuer who does not charge this fee.
Charge Noun Synonyms: load, burden, weight, onus, impediment, care, concern, obligation
Charge Verb Synonyms: fill, imbue, load, instil, pervade, permeate, saturate, suffuse
Finance Noun Synonyms: fund, subvene, invest in, back, capitalize, underwrite, subsidize, pay for, bankroll
Finance Adverb Synonyms: resource(s), banking, accounting, economics, money (management), business, commerce, (financial) affairs, investment
Business / Accounting / Fair Credit And Charge Card Disclosure Act (1989): A part of the Truth in Lending Act that mandates a box on credit card applications that describes key features and costs (i.e., APR, grace period for purchases, minimum finance charge, balance calcula MORE
Business / Finance / Minimum Price Fluctuation: Smallest increment of price movement possible in trading a given contract. Also called point or tick. MORE