While researching Balance Computation Methods on the FTC 's Facts for Consumers website I came across
this type of balane computation method. Anyone know which CCC's use this method?.
Also, is it an agreement that is used by CCC's with only certain customers?
The article I referenced also mentioned the most common balance methods such as: Avg. Daily Balance, Adj.Balance, and Previous Balance.
Do most CCC's use Avg. Daily balance and how often are the other types used in this credit climate?
Thanks in advance.
The answer is no should be using this method now due to recent legislation. See link below
The answer to your question is on the second page of the article.
Thank you, AndySoCal.
I didn't know it ended in Feb. 2010 with one of the provisions of the Credit Card Act.