What is Two Cycle Daily Average Balance on Credit Card?
Author: Bill
Posted: Thu Jul 22, 2004 8:17 pm
Post subject: What is Two Cycle Daily Average Balance on Credit Card?
9/4/2001 3:51 pm CDT
I have a discover classic card with a $6,000 limit..I transfered $5,500 to the card and i have 2 months left at the 1.9% intrest rate..Then it goes to 16.99% fixed..I have had the account for little over 3 months now..I tried to get the apr lower last month but they couldn't and gave me 10% off my next purchase..I called them this month and they couldn't lower my apr but they gave me a 10% discount on my next purchase again and upgraded my card to platinum..I asked them if the apr will be lower and they said it should a little..I said well it should be atleast 14.99% fixed for platinum..They told me to call back when i get platinum status as i am still clasic on there computers right now..I also told them i have in hand a pre approved discover gold card app in hand with 13.99% fixed rate..They blew that off but i oughtta get some kind of decrease.If not i could put the balance on a 15.49% variable card but is that wise?
I dont understand this Two Cycles Average Daily Balance they use..Does anyone know what it would be at 14.99% fixed with the 2 cycle stuff? Any advice would be appreciated./. Thankyou
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Jul 22, 2004 8:17 pm
Post subject: What is Two Cycle Daily Average Balance on Credit Card?
9/4/2001 3:51 pm CDT
I have a discover classic card with a $6,000 limit..I transfered $5,500 to the card and i have 2 months left at the 1.9% intrest rate..Then it goes to 16.99% fixed..I have had the account for little over 3 months now..I tried to get the apr lower last month but they couldn't and gave me 10% off my next purchase..I called them this month and they couldn't lower my apr but they gave me a 10% discount on my next purchase again and upgraded my card to platinum..I asked them if the apr will be lower and they said it should a little..I said well it should be atleast 14.99% fixed for platinum..They told me to call back when i get platinum status as i am still clasic on there computers right now..I also told them i have in hand a pre approved discover gold card app in hand with 13.99% fixed rate..They blew that off but i oughtta get some kind of decrease.If not i could put the balance on a 15.49% variable card but is that wise?
I dont understand this Two Cycles Average Daily Balance they use..Does anyone know what it would be at 14.99% fixed with the 2 cycle stuff? Any advice would be appreciated./. Thankyou
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 11:32 AM
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