Wednesday October 27, 2021

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What's the Deal With Two-Cycle Billing?
Posted by CreditLearningCenter.com

Beware of credit card companies that have two-cycle billing.

Here's how it works:
Most banks normally calculate month interest charges based on the average daily balance for that particular month. With two-cycle billing, your interest is calculated based on your average daily balance for the last two billing cycles. What this means is that even if you took care of your previous month's balance in full and on time, you can still be assessed interest charges on those purchases the next month.

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