how to calculate credit card finance charges?

Answer 1

The formula / method to calculate the interest on "anything" is as follows:

Principal balance multiplied by the apr = X

X is then divided by either 360 or 365 (days in a year) = Y
( 360 or 365 days is acceptable by the federal government )

Y is your daily interest amount

multiply Y by the number of days in the billing cycle & that is your interest / finance charge.

Hope this helps.

Answer 2

diff for diff firms..
see they have a min charge of 300/- for evry transaction period. usually extending to 50 days, after that at around 4.25% per month is levied on u.
for more information contact the banks call centers. get those no. from net

Answer 3

I found some good info here.

Answer 4

they give you the interest rate and how much you owe just do the math