double-cycle billing
Definition
A method of calculating interest payments by credit card companies. By this method, the interest computed by billing the card holder not just for 30 days but for 60 days and the total bill is divided in half to calculate the interest owed. For example, if a cardholder made a $100 purchase in June and pays this on the same month, he will still be billed for the $100 in July as the interest is computed for the past 60 days.
Related Articles
- Different Types of Credits to be Aware of While Filing Taxes *
- Credit Fraud and How to Protect Yourself *
- Understanding Homeowner's Insurance Policies *
- Currency Pairs *
- "Buy Butterfly" Option Investment Strategy *
- Consumption vs Income Tax *
- Figuring out the Best Car Type for You *
- Bankruptcies: Advantages, Disadvantages and Different Types *
Related Videos
http://www.businessdictionary.com/definition/double-cycle-billing.html
