If creditors give you no credit for payments made during the billing period, this is called the:

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Business

Cesar Vazquez

18 September, 17:35

If creditors give you no credit for payments made during the billing period, this is called the:

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Answers (2)

Know the Answer?

Brody Pham · Answer 1

The answer is: previous balance method.

Ishaan Ali · Answer 2

If creditors give you no credit for payments made during the billing period, this is called the "previous balance method".

The previous balance method portrays a credit card accounting strategy where intrigue charges depend on the sum owed toward the finish of the start of the charging cycle. The past equalization strategy charges intrigue dependent on the measure of obligation the shopper continues from the past charging cycle to the new charging cycle. This method can be increasingly costly for buyers who are settling obligation since installments don't quickly lessen the measure of intrigue owed.