Double-cycle billing is the process that allows credit card companies to add interest for two consecutive months as opposed to only the previous month is known as double-cycle billing. This process will eliminate any grace period for those customers who had paid their remaining balance in the previous billing cycle. Sometimes known as two-cycle billing, this practice was banned in 2009 by the Credit Card Accountability, Responsibility and Disclosure Act.
Click for the full glossary of credit card terms.
