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New Balance |
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On a credit card statement, the new balance is the figure that represents the new amount that is owed by the credit card holder. It’s the outstanding balance and it is a calculated figure. Beginning with the previous balance, all payments and credits that have been made by the card holder during the previous 30-day period are subtracted. Added to that figure are all purchases, adjustments, cash advances, finance charges and other applicable fees that were posted during that same period. The resulting figure is the new balance. The new balance will become the previous balance on the forthcoming credit card statement.
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Credit Card Definitions > N - Z > New Balance
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