Method 2: Canada Debt .ca defines Method 2

Bankruptcy Term Method 2

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Canada Debt has the definition to the bankruptcy and debt term Method 2. Finding answers to terms such as Method 2 can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Method 2 in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Method 2' is used as follows:

The method used by some credit card issuers to determine whether the interest-free period applies to your new purchases. With this method, it applies only if you pay your current month's balance in full by the due date, and you have also paid your previous month's balance in full by the due date (in other words, you're not carrying a balance from the previous month).