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Past Due Balance Method |
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Past Due Balance Method A method for determining charges for a loan or credit sale payment that has not been received by its due date. Generally, the method is charging a certain percentage of interest on the outstanding payment. For example, if one has a $100 balance on his/her credit card and does not pay it off by the due date, interest begins to accrue on the $100 and the card holder owes for that as well. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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