No. of Recommendations: 0
I came across this looking on First USAs web site..

This how they calculate this. I called to make sure what I though was right was. Turns out it/I wasnt.

Here is how it was explained to me...

This only applies when you go from a zero balance to some balance you carry over to another month. Basically, they back charge you the finance charges of the grace period if you carry over a blance just once.

That is if you have a zero blance month 1 and charge 100.00. The next bill, month 2 has a balance of 100.00. IF you only pay a portion of that the following month will have the finance charges for not only for month 2 to 3 but also finance charges for month 1 - 2 (the previous grace period).

So effectively you are getting charged from Day one when you purchased that item... Unless you pay your bill completely at the end of that FIRST MONTH.



Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.