Hey guys, I'm pretty new to the credit world and I'm learning a lot from this board. But I have a question. I just received my statement from Providian. When they start charging interest, is that the same as finance charges? I had $4 in finance charges, and I don't know where it came from. I'm guessing that's the interest that was charged, which is a smaller amount than I expected. Please clarify. TIA
Also, sometimes fees can post to an account as "finance charges". Do you have any kind of monthly or annual fee that would amount to $4 per month? It seems unusual that the actual interest would be such an even amount. Kat http://creditexpert.tripod.com/home.htm
Yes, the "finance charge" on your statement is the interest that is accrued during that cycle. It is displayed the same way on my statement.
