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Archive for February, 2009

Hurray for Discover!

February 16th, 2009 at 08:08 pm

"We are eliminating the Two-Cycle Average Daily Balance (including new transactions) method and will now use the Average Daily Balance (including new transactions) method to calculate the balances upon which we impose Periodic Finance Charges. This means that when you switch from paying your balance in full each month to carrying a balance, you will only be charged Periodic Finance Charges on your Average Daily Balance in the current billing period, as opposed to the Average Daily Balance in both the current and previous billing periods."

In an age where every day credit card companies are slashing limits and raising interest rates, it's nice that a company I've been loyal to for many years is doing something right by consumers. Hurray for the end of double cycle billing.

They also continue to offer 25 day grace periods from the closing date of the statement.