Just trying to make sure I'm not going crazy -
We can still use the term finance charge when describing our HELOC balance computation method right? For example, this model language is still accurate for HELOCS?
(f) Daily balance method (including current transactions)
We figure [a portion of] the finance charge on your account by applying the periodic rate to the “daily balance” of your account for each day in the billing cycle. To get the “daily balance” we take the beginning balance of your account each day, add any new [purchases/advances/fees], and subtract [any unpaid finance charges and] any payments or credits. This gives us the daily balance.