finance charge

finance charge definition - finance
The cost of obtaining and using credit; typically applied to credit cards or other consumer loans, such as car loans. Finance charges typically include interest due on outstanding balances as well as fees for special services, such as cash advances. The federal Truth in Lending Act requires that the finance charges must be disclosed to customers before issuing credit.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.