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NFCU charges interest on your AVERAGE DAILY BALANCE??

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mfinsmi1
Established Contributor

NFCU charges interest on your AVERAGE DAILY BALANCE??

So on credit card statements theres the section which shows the APR and the balance subject to the APR... ive never had any cards before that use this techinque to charge interest. Its usually the balance left over from your last statement that is subject to interest. Is this technique specific to NFCU or does it happen elsewhere. I feel like use ADB im getting charged way more interest than other cards. (And yes please dont dont tell me i should be paying my cards in full - theres a reason why i didnt do this this past month)

Personal Cards (Over $100k):

Business Cards:

Rebuilding Starting Scores - December 2021

FICO SCORE 8/9 - Current 1/6/23

Stats: : 3/6; 8/12; 17/24 --- AAoA 3 YRS, 8 MO --- INQ: EX-6/TU-7/EQ-2
Message 1 of 4
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SouthJamaica
Mega Contributor

Re: NFCU charges interest on your AVERAGE DAILY BALANCE??


@mfinsmi1 wrote:

So on credit card statements theres the section which shows the APR and the balance subject to the APR... ive never had any cards before that use this techinque to charge interest. Its usually the balance left over from your last statement that is subject to interest. Is this technique specific to NFCU or does it happen elsewhere. I feel like use ADB im getting charged way more interest than other cards. (And yes please dont dont tell me i should be paying my cards in full - theres a reason why i didnt do this this past month)


My impression is that they all follow a formula like that.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 703 TU 704 EX 687

Message 2 of 4
805orbust
Valued Contributor

Re: NFCU charges interest on your AVERAGE DAILY BALANCE??

I also always thought that everyone does the same. 



Message 3 of 4
mfinsmi1
Established Contributor

Re: NFCU charges interest on your AVERAGE DAILY BALANCE??

i havent had interest charged in almost 2 years so maybe i forgot lol

Personal Cards (Over $100k):

Business Cards:

Rebuilding Starting Scores - December 2021

FICO SCORE 8/9 - Current 1/6/23

Stats: : 3/6; 8/12; 17/24 --- AAoA 3 YRS, 8 MO --- INQ: EX-6/TU-7/EQ-2
Message 4 of 4
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