Finance charge question

Discussion in 'Credit Talk' started by S.D., Dec 28, 2000.

  1. S.D.

    S.D. Guest

    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
  2. Doug

    Doug Well-Known Member

    Interest is accured at time of purchases, same as cash advances, no grace period.
  3. netKat

    netKat Guest

    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.

  4. miles

    miles Well-Known Member

    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.

Share This Page