https://ficoforums.myfico.com/t5/Credit-Cards/Question-about-Sears-MC-deferred-int-no-pmt-offer/m-p/229149#M77539 <DIV></DIV><DIV></DIV><DIV>How can I have accrued finance charges on a credit card balance under a deferred int promotion?<P>I recently opened a Sears MC account under a deferred interest/no payment offer until May 2001. The purchase was exactly $1000(and therefore the statement balance). The first statement indicates an average daily balance of $1007.71 in the "deferred int no pmts" row of the statement (corresponding APR of 22.40%...daily periodic rate of 0.0614%...26 days in billing period).<BR /><BR />There is also $16.08 under the accrued interest charges column in the "promotional balances" section of the statement.&nbsp; I am assuming this is the interest on the running meter for the balance that will be charged to me if I do not pay the balance by the expiration date, but I was just wondering how the ADB was calculated.<BR /><BR />I messaged the credit card company for an explanation, but who knows when I'll actually get a reply. Just though I might get a simpler explanation here that I might be able to digest.</P></DIV><BR /><BR />Message Edited by toddb on <SPAN class="date_text">05-04-2008</SPAN> <SPAN class="time_text">09:25 AM</SPAN> Sun, 04 May 2008 16:25:47 GMT Anonymous 2008-05-04T16:25:47Z https://ficoforums.myfico.com/t5/Credit-Cards/Question-about-Sears-MC-deferred-int-no-pmt-offer/m-p/229149#M77539 <DIV></DIV><DIV></DIV><DIV>How can I have accrued finance charges on a credit card balance under a deferred int promotion?<P>I recently opened a Sears MC account under a deferred interest/no payment offer until May 2001. The purchase was exactly $1000(and therefore the statement balance). The first statement indicates an average daily balance of $1007.71 in the "deferred int no pmts" row of the statement (corresponding APR of 22.40%...daily periodic rate of 0.0614%...26 days in billing period).<BR /><BR />There is also $16.08 under the accrued interest charges column in the "promotional balances" section of the statement.&nbsp; I am assuming this is the interest on the running meter for the balance that will be charged to me if I do not pay the balance by the expiration date, but I was just wondering how the ADB was calculated.<BR /><BR />I messaged the credit card company for an explanation, but who knows when I'll actually get a reply. Just though I might get a simpler explanation here that I might be able to digest.</P></DIV><BR /><BR />Message Edited by toddb on <SPAN class="date_text">05-04-2008</SPAN> <SPAN class="time_text">09:25 AM</SPAN> Sun, 04 May 2008 16:25:47 GMT https://ficoforums.myfico.com/t5/Credit-Cards/Question-about-Sears-MC-deferred-int-no-pmt-offer/m-p/229149#M77539 Anonymous 2008-05-04T16:25:47Z