Quote:
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No more double-cycle billing: Finance charges on outstanding credit card balances would be computed based on purchases made in the current cycle rather than going back to the previous billing cycle to calculate interest charges. So-called two-cyle or double-cycle billing hurts consumers who pay off their balances, because they are hit with finance charges from the previous cycle even though they have paid the bill in full.
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So does this mean that with my card paid off every month, that if I do something like go to the store on the first day of the billing cycle it gathers interest up until the day the bill is due at the end of the month?