Most companies have a mathematical formula that looks like this: average daily balance x periodic daily interest rate x number of days in a billing cycle = finance charge. (debt.org)
The mathematical formula used to calculate monthly interest charges is the same for most card companies: average daily balance x periodic daily interest rate x number of days in a billing cycle. (debt.org)
Benefit from fixed daily interest rates, easy online management and more. (us.hsbc.com)