What is two cycle billing and how does it increase finance charges ? Does it mean that the interest is calculated twice during the billing period so you pay compound interest ? I was under the impression that sub prime cards compounded interest on a daily basis, does anyone know if this is correct ? Thanks.
I could be wrong, but I think the 2 cycle method means if you do not pay your balance in full one month (after a previous zero balance) & carry it over to the next, you will be charged for the interest of both billing cycles at once. If you pay your balance in full each month you don't have to worry much about it. Hope this helps!
