Answers

Knowledgebase Home | Favorites | Forum Welcome to our knowledge base. To find what you're after, use the search box below or choose a category to view listed articles. Search the Knowledgebase Browse by Category [Advanced Search] -- Select Category -- Credit MythbustersLoans    - Personal Loans    - Auto Loans    - Home Loans    - Student LoansCredit CardsCredit Reports and ScoresCredit Report CardIdentity TheftDebt HelpConsumer Law Guide    - College Cost Reduction and Access Act    - Credit Card Accountability Responsibility and Disclosure Act (CARD Act)     - Credit Repair Organizations Act (CROA)    - Equal Credit Opportunity Act (ECOA)    - Fair and Accurate Credit Transactions Act (FACTA)    - Fair Credit Reporting Act (FCRA)    - Fair Debt Collection Practices Act    - Overdraft Rules for Debit and ATM CardsCustomer Support The article has been updated successfully. Knowledgebase Home > Credit Cards What is double cycle billing? Article Details Last Updated 14th of August, 2009 Would you like to... Discuss Print this page Email this page Post a comment Subscribe me Add to favorites Remove Highlighting Edit this Article Quick Edit Export to PDF User Opinions (2 votes) 50% 50% How would you rate this answer? Helpful Not helpful Help us improve. Why was this unhelpful? Thank you for rating this answer. Double-cycle, or two-cycle, billing takes the average balance from the last two months and charges you that amount in interest, even if you paid part of the previous balance. For example: You had a $1,000 balance in March and paid $500 of it.  You don't add any new charges in April, but the credit card issuer charges you interest on the full $1,000 instead of just the $500 you had remaining. Under the CARD Act that was signed into law in May 2009, double-cycle billing is banned. For in-depth articles about the CARD Act, visit Credit.com’s Learning Center. Related Articles What CARD Act changes become effective as of February 2010? Can you outline the new rights that the CARD Act provides? What is the CARD Act? What will it do? How will the regulations regarding credit card fees change with the CARD Act? What is open credit? Continue