Average Daily Balance

This is the term for how most credit card companies calculate your credit card payment. The average daily balance  is typically calculated by totaling each day’s credit card balance and then dividing by the number of days in the credit card billing cycle.

Click for the full glossary of credit card terms.

Similar Articles:

Credit Cards

Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!