What You Need to Know About Credit Card Statements
Written on July 13, 2010 – 12:28 am | by Adam Gomez
Credit card statements can leave consumers dumbfounded. The language is fuzzy and difficult to understand and the terminology is confusing. With this simple guide 
you can get one step closer to understanding what you really need to know about reading your credit card statements.
Average Daily Balance
The Average Daily Balance is a method of calculating interest on the account. Each day the transactions are tracked. The card companies add the beginning balance for each day to the charges made that day. To determine the amount of interest paid, this amount is divided by the days in the billing period.
The new set of regulations has devastated many people. Many consumers have complained that their credit rates increased with no reason at all and the credit card companies do not inform them the reason why. Others point out that the new rules have loopholes in it and don’t really protect customers; rather it increases the chances for credit card issuers to obtain profits. 
PULSE, the daughter company of Discover Financial Services, has conducted a new study which aims to show the current number of Americans who use of their debit cards in business transactions now that debit cards have stretched its capacity.