Which method for calculating credit card balances is best for the customer who made a large purchase in the current month but has not made any payments yet?

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asked Dec 21, 2018 123k views

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Robert Fraser · Answer 1 · 2018-12-28T12:14:43+0000

Option:

A) Average daily balance method

B) average monthly balance method

C) adjusted balance method

D) previous balance method

Answer: . D) prevail balance method

Explanation:

The previous balance method is one that excludes payments, credits, and new purchases that happened during the current billing cycle, for calculating finance charges.

Which method for calculating credit card balances is best for the customer who made a large purchase in the current month but has not made any payments yet?

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