Call Now: 1.866.297.2002

Credit Repair Blog RSS

Say Goodbye to Two Cycle Credit Card Billing

Two cycle billing, also known as double cycle billing, has become a major problem within the credit card industry. This negatively effects consumers but does a lot of financial good for the credit card companies. Fortunately, this is something that is on its way out the door. Thanks to the new Credit Card Reform Act two cycle billing will no longer be a “trick” that credit card companies can take advantage of. From a consumer point of view this is something to get excited about.

The new rule makes it illegal for credit card companies to go back to past billing cycles when calculating interest to be charged for the current billing cycle. Consumers who pay off their bill in one cycle, but maybe not the next, have been hurt time after time by this practice. In the future, credit card companies will no longer be able to take advantage of two cycle billing which will financially benefit the consumer.

Does your credit card company currently use a two cycle billing method? Chances are that you don’t know the answer to this question. At this time it is legal for companies to use two cycle billing, although many have never done so. Some companies rely on single cycle billing, and those that do will not have any problems making a change in July 2010 when the new Act goes into effect.

Two cycle billing allows a credit card company to use two months to calculate the average daily balance. In the short term two cycle billing may appear to be beneficial, but over the long haul the credit card companies are the ones that come out on top.

Once the Credit Card Reform Act becomes effects in July 2010 credit card companies will no longer be able to use the two cycle billing method. 

Free Credit Consultation

I request and grant my consent to be contacted by telephone and/or email regarding credit repair. Submitting my personal information above constitutes my electronic signature.

Easy Credit Guide

Easy Credit

Good credit scores save you thousands of dollars. We've made it easy for you to learn about good credit. Download our free Easy Credit Guide and find out how easy it can be to get good credit!


Get Our Credit Tips

Serious about improving your credit and saving money? Make it easy for yourself, and get our weekly Credit Tips newsletter delivered by email.

Free Credit Reports
(Plus Scores!)

To improve your credit score, you need to know your credit score. Get all three credit reports (plus credit scores) in this free offer.

Get it Now

Credit Success Stories

The credit repair company you matched me with was amazing. I had a string of inaccurate information hit my credit report that misrepresented my character and borrowing capacity to lenders. My business requires that I have borrowing capacity at all times. Thinking I could save time and money, I tried dealing directly with the vendors that incorrectly reported information to my file. What a mistake! It just wasted time and aggravated me. I called your company and quickly learned that paying the professionals is the best way to go. You did in 10-days what I couldn't do in nearly three months. I cannot thank you enough for what you have done! Read More