Sentences with phrase «cycle average daily balance method»

Under another method — the two - cycle average daily balance method — creditors use the average daily balances for two billing cycles to compute your finance charge.

Not exact matches

There's a few cards out there (Discover is one of them) that use the two - cycle billing method when computing your average daily balance.

The formulaic method of computing the cost of borrowing defined by multiplying the average daily balance by the daily periodic rate by the number of days in a cycle.

Under one of the most common methods - the average daily balance method — creditors add your balances for each day in the billing cycle and then divide that total by the number of days in the cycle.

However, finance charges applied use the «Two Cycles Average Daily Balance» method, which is a more costly method in applying finance charges for those who occasionally carry a balance as compared to the «Average Daily Balance» method used by most card iBalance» method, which is a more costly method in applying finance charges for those who occasionally carry a balance as compared to the «Average Daily Balance» method used by most card ibalance as compared to the «Average Daily Balance» method used by most card iBalance» method used by most card issuers.

We calculate interest charges each Billing Cycle by using the average daily balance method (including new transactions).