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2 years ago

What are the three methods of calculating balance charges on credit cards?.

Business

1 answer:

Rama09 [41]2 years ago

5 0

The three methods of calculating balance charges on credit cards are:

previous balance method.

average daily balance method (excluding and including newly billed purchases.

adjusted balance method.

<h3>How can we calculate a credit card balance ?</h3>

Calculation of the credit balance can be done generally by dividing the average daily balance totals by the total number of days in the billing cycle.

Then the result is then multiplied by the monthly interest rate, however all the listed method can as well be used.

Learn more aboutcredit cards at:

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