TD to start charging compound interest on all personal credit cards
If interest applies, TD currently calculates it based on a
cardholder’s average daily balance until that amount has been paid in
full. With the change, the bank will start to add any unpaid interest
charges to the cardholder’s balance at the end of each statement period.
cardholder’s average daily balance until that amount has been paid in
full. With the change, the bank will start to add any unpaid interest
charges to the cardholder’s balance at the end of each statement period.
“As a result, we charge interest on unpaid interest,” the notice reads.