TopHot
Credit card interest rates are based on avg daily balances (rather than the amount not paid by due date)
Credit card interest rates are based on avg daily balances (rather than the amount not paid by due date) Maybe this is common knowledge but it’s counterintuitive to me / I just learned about it today. From the credit card statement fine print: “To figure your periodic interest charges for each billing cycle when a monthly periodic rate(s) applies, we use the average daily balance method (including new transactions).” So, in my last billing cycle, m...
Category:
