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420investor

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Difference between "daily balance" and average daily balance"?
Upromise World MasterCard issued by Barclays Bank Delaware ("Barclays"), (hereafter "they") will calculate a card-holder's balance using a method they call "daily balance (including new purchases)". However, they will use a method that they call "average daily balance (including new purchases)" for card-holders who are residents of Iowa at the time the account is opened.
Can someone explain how these accounts are different? Please give a detailed example. Also, why do residents of Iowa receive this alternative treatment?

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It's in the terms....

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Continue reading below that statement..... it's a requirement for credit cards to tell you 'how' they calculate terms like balance and daily balance in the terms of the credit card.

Reply by
420investor

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I read the terms and conditions, that's what prompted me to ask the question. You haven't explained anything.

The terms and conditions syas that they use a method called "daily balance", except for Iowa residents, who's account is calculated using "average daily balance". It doesn't go into anymore detail.

Can someone answer the questions in my original post?

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