It is a good way to understand credit card terms so that you may stay one step ahead. If you are able to read a credit card application and completely understand all the terms of agreement on your card you’ll be in better form to use your cards with whole responsibility and you may also avoid falling into the credit card debt trap.
Here in this article we are presenting you a glossary of the most common credit card terms that could really help you with your credit card education:
Adjusted Balance Method
Adjusted Balance method is a formula that many card issuers use for the purpose of calculating the amount of your monthly payment. During the month the payments that you made to the credit card account is subtracted from the balance, and finance charges are added on to get the adjusted balance.