Fixed interest rate: Fixed interest is a type of rate that remains the same for the amount of time you carry a credit card balance or loan. Fixed rates will not increase due to changes to the prime index or inflation. The cost of a fixed interest rate may be higher than a vari...
Interest is calculated daily and charged to your credit card statement when it’s produced each month. To see when interest is not charged, please see your Terms & Conditions. What is a variable interest rate?expandable section A variable interest rate is an interest rate that can change over...
Credit card fees Loan interest payments (if you’re on a variable rate) Direct costs vs. indirect costs Direct costs are directly related to the production of a product. Examples include the cost of raw materials, shipping, transaction fees, and inventory storage costs. These are necessary to...
Installment credit refers to loans that are paid back by making equal regular payments—typically on a month-to-month basis and often at a fixed interest rate. This type of credit is closed-end. This means the loan is for a specific amount of money with the expectation that it will be p...
(If one pound of material is used for each unit, then this direct cost is variable.) However, the product’s indirect manufacturing costs are likely a combination of fixed costs and variable costs. For instance, if the managers within the manufacturing facility but not on the assembly line ...
2. Variable Recurring Payments: These payments vary based on usage or consumption. For example, a mobile phone plan where the customer is charged based on the number of minutes or data used. Most SaaS and other subscription businesses offer both fixed and variable recurring payment options in th...
Both TFSAs and RRSPs have contribution limits, or a maximum amount you can contribute each year. If you contribute more than these limits, you’ll face penalties and fees. For a TFSA, there is a set annualcontribution limit— in 2025, it’s $7,000 — that is added to any unused con...
About 2 weeks before your Fixed Rate Saver matures, we’ll get in touch to ask you what you want to do with your money. You'll have the following options: 1. Reinvest your savings for another fixed term 2. Open a different type of savings account with us 3. Withdraw your money and...
your credit card’s credit limit. These fees can be a fixed amount or a percentage of the amount by which you went over your limit. It’s crucial to monitor your credit card usage and stay within your credit limit to avoid overlimit fees and potential negative effects on your credit ...
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