A method of calculating payments for a revolving debt account, such as a credit card. The process estimates a monthly payment by multiplying the daily periodic rate by the average daily balance for the previous two billing cycles (typically monthly).
Related information about two-cycle billing:
- How Two-Cycle Billing Works | AllFinancialMatters
Dec 12, 2006 ... With two-cycle billing, the credit card company uses two months to calculate the average daily balance. So, using the same numbers as above ...
- How 2-cycle billing works
Sep 1, 2006 ... Dr. Don advises a reader who wonders just how two-cycle billing works and if he is getting cheated by it.
- Deceptive Credit Card Offers, Part 1: Two-Cycle Billing
Although it's common to recieve mailing from credit card companies offering credit cards with attractive terms, like 0% APR balance transfer offers or offers on ...
- What is Two Cycle Billing?
So, next time you are looking for a new credit card make sure you look at the fine print to check for what type of billing method they use for that card.
- Debtor Beware: Two-cycle Billing Credit Card Trick » My Money Blog
Jul 11, 2005 ... Wrong. Due to the beauty of two-cycle billing, you are charged interest on the average, which would be $600. In essence, your grace period for ...
- Two-cycle billing - Credit Card Terms and Glossary
Two-cycle billing definition: Two-cycle billing is the balance computation method that allows credit card issuers to apply interest ...
- Two-Cycle Billing Vs. One-Cycle Billing | Chron.com
Although credit cards are helpful to bridge gaps in small-business income, the interest charged should be an important factor in deciding when to use the card.
- What is Two Cycle Billing? - Yahoo! Voices - voices.yahoo.com
Jul 16, 2007 ... Credit card issuers have been moving towards the "two cycle billing" method of calculating interest. This is a way for the credit card company to ...