ABSA Finance Charge

[Dolby]

What does this figure actually include on the ABSA credit card?

They charge a R35.00 monthly fee and a finance charge. On the 05 October I see this was just over R450.00 and last month was R300.00 finance charge.

It can't be interest, as I think this is calculated in the monthly payment ...

 

[azbob]

No one?

Was wondering the same thing and came across this on google. WTF is the finance charge? :wtf: Will call them tomorrow to ask.

DO other credit cards charge R0.50 per sms notification? I'm exploring my options now.

 

[superskully]

It is interest.

 

[superskully]

And bank charges like garage card transactions

 

[azbob]

it can't be interest because I pay off my CC monthly. Might be some garage transactions then.

 

[superskully]

Interest on cash withdrawn which includes garage card amounts as this is considered cash, plus transaction fee.
My statement usually describes the breakdown.
I also settle my account monthly but pay like R30 finance charge.