Finance Charge will incur if you make your payment too early.
I opened an account with CareCredit to pay for braces. It was to be an 18 month no interest account which allowed for one late payment before the finance charge would be added to the account.
I did have a payment due of about 59.00 on 9-20-09. I realized on the 21st that I was late, so I made a payment of 180.00 covering the September and October payments.
My October statement arrived with the finance charge added to the account. When I called to question the charge I was told that because I missed both Sept and Oct's payments I was in default of my contract. I explained how I made the payment on 9-21 for the late Sept payment and the current Oct payment. It was explained to me that the Oct payment was not due until after 9-28. I questioned if I was now being penalized because I made the Oct payment too early??? The answer was YES, you made the payment after the September payment was due, but before the October payment was due on the 28th.
I would not advise anyone to do business with this company. By the way, the interest rate was 29.99%