The average daily balance method is one of several methods used by credit card companies to calculate interest when a cardholder carries a balance. Cardholders too can use the formula as a way to ...

Evan Zimmer has been writing about finance for years. After graduating with a journalism degree from SUNY Oswego, he wrote credit card content for Credit Card Insider (now Money Tips) before moving to ...

Knowing exactly how much money you have to spend is the foundation of personal finance. It helps you avoid overspending and keeps your budget in check. With online banking and mobile apps, monitoring ...

When you receive your credit card bill, you'll notice two different balances: the statement balance and the current balance. Conventional wisdom says that you should always pay off your statement ...

Toni is a points and miles enthusiast who has been leveraging loyalty programs to travel around the world (for nearly free) with her husband and their four young children. She’s passionate about ...

Learn how the previous balance method calculates credit card interest, its implications for cardholders, and why it might not be the best choice for you.

The statement balance is the amount owed at the end of your billing cycle, while the current balance is the amount you owe at any particular moment. Your statement balance can differ from your current ...

The statement balance tells you how much you owe after a single billing cycle. For a more up-to-date account of your credit card debt, check the current balance. Many or all of the products on this ...