What is your finance charge?

Question

Quizplus · Accepted Answer

Finance charge refers to the total cost of borrowing on your card, which includes both interest and fees. It represents the amount you pay to use credit, and it can vary depending on the type of card, your balance, and your payment history.

Answer: A and B
 While finance charge typically refers to the total cost of borrowing, it can also refer to specific fees and interest charges that apply to credit cards. For example, interest on credit cards is a type of finance charge that accrues on your balance based on your APR. Similarly, fees on credit cards, such as annual fees, late fees, and balance transfer fees, can also be considered finance charges.

What Is Your Finance Charge