What happens when I make a purchase on my credit card’s payment date?
For example, if my credit card payment is due today but I make a purchase, does go onto next months billing cycle?
How to calculate the Finance Charge of credit card using average daily balance?
Could you be so kind to help me with that:
Most of credit card issuers use average daily balance (ADB) to calculate Finance Charge (FC). There are two ways:
1)average daily balance method, including new purchases;
2)average daily balance method, excluding new purchases;
The question is how to calculate the Finance Charge using both ways described above.
Specifications of the [...]
