Credit Card Glossary: Terms and Definitions
Average daily balance
Average daily balance is a key number used in the formula that computes how much interest you have to pay on a credit card balance. An average daily balance is determined by adding each day’s balance and then dividing that total by the number of days in the billing cycle.
Terms from A-Z
Search the CreditCards.com glossary for every credit-related term from "account holder" to "zombie debt." Select a letter for alphabetized terms and definitions.