Finance Charges. New purchases posted to your account during a billing cycle will not incur a finance charge for that billing cycle if you had a zero or credit balance at the beginning of that billing cycle or you paid the entire New Balance on the previous cycle's billing statement by the Payment Due Date of that statement; otherwise a finance charge will accrue from the date a purchase is posted to your account. To avoid an additional finance charge on the balance of purchases, you must pay the entire New Balance on the billing statement by the Payment Due Date of that statement. A finance charge begins to accrue on cash advances from the date you get the cash advance or from the first day of the billing cycle in which the cash advance is posted to your account, whichever is later (transaction date). The finance charge is calculated separately for purchases and cash advances. For purchases, the finance charge is computed by applying the periodic rate to the average daily balance of purchases. To get the average daily balance of purchases, we take the beginning outstanding balance of purchases each day, add any new purchases, and subtract any payments and/or credits. This gives us the daily balance of purchases. Then we add all the daily balances of purchases for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of purchases. For cash advances, the finance charge is computed by applying the periodic rate to the average daily balance of cash advances. To get the average daily balance of cash advances, we take the beginning outstanding balance of cash advances each day, add in any new cash advances, and subtract any payments and/or credits that we apply to the cash advance balance. This gives us the daily balance of cash advances. We then add all the daily balances of cash advances for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of cash advances. Balance transfers are calculated in the same manner as cash advances. The ANNUAL PERCENTAGE RATE for your Card is based on certain credit-worthiness criteria. Member's APR may be reviewed and changed twice a year based upon credit history. The monthly Periodic Rate that will apply to your VISA Platinum Card is (*see below) % that is an ANNUAL PERCENTAGE RATE of (*see below) %.
Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 1.75 (%) percent per month of the average daily Account Balance outstanding during the applicable Reconciliation Period (the "Finance Charges"). Buyer shall deduct the accrued Finance Charges from the Reserve as set forth in Section 3.5 below.
Finance Charges. In the case of any transactions under Your Account, the balances subject to the periodic Finance Charge are the average daily transactions balances outstanding during the month (including new transactions). To get the average daily balance for purchases, We take the beginning balance of purchases on Your Account each day, add any new purchases, debit adjustments or other charges and subtract any payments, credits and unpaid Finance Charges. This gives Us the daily balance for purchases. Then, We add up all these daily balances for the billing cycle and divide them by the number of days in the billing cycle. The result is the average daily balance for purchases. The Finance Charge for a billing cycle is then computed by multiplying the average daily balance subject to a Finance Charge by the Monthly Periodic Rate. Your due date is at least 25 days after the close of each billing cycle. You can avoid Finance Charges on purchases by paying the full amount of the entire balance owed each month by the due date. Otherwise, the new balance of purchases, and subsequent purchases from the date they are posted to Your Account, will be subject to a Finance Charge. To get the average daily balance for balance transfers, We take the beginning balance of balance transfers on Your Account each day, add any new balance transfers, debit adjustments or other charges and subtract any payments, credits and unpaid Finance Charges. This gives Us the daily balance for balance transfers. Then, We add up all these daily balances for the billing cycle and divide them by the number of days in the billing cycle. The result is the average daily balance for balance transfers. The Finance Charge for a billing cycle is then computed by multiplying the average daily balance subject to a Finance Charge by the Monthly Periodic Rate. Balance transfers are always subject to a Finance Charge from the later of the date they are posted to Your Account or from the first day of the billing cycle in which the balance transfer is posted to Your Account. To get the average daily balance for cash advances, We take the beginning balance of cash advances on Your Account each day, add any new cash advances, debit adjustments or other charges and subtract any payments, credits and unpaid Finance Charges. This gives Us the daily balance for cash advances. Then, We add up all these daily balances for the billing cycle and divide them by the number of days in the billing cycle. The result is the average dail...
Finance Charges. Lender may, but is not required to, deduct the amount of accrued Finance Charge from Collections received by Lender. The accrued and unpaid Finance Charge shall be due and payable within 10 calendar days after each Month End during the term hereof.
Finance Charges. We will impose Finance Charges (a fee representing the cost of credit and the cost of borrowing on your Account) by applying the Monthly Periodic Rate as described below.
Finance Charges. You can avoid FINANCE CHARGES on purchases by paying the full amount of the New Balance of Purchases each month within 25 days of your statement closing date. Otherwise, the New Balance of Purchases will be subject to FINANCE CHARGE. The Finance charge for a billing cycle is computed by applying the monthly Periodic Rate, which is an Annual Percentage Rate, to a periodic daily rate on the average daily balance. The average daily principle balance of purchases is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the billing cycle. Each daily balance of Credit Purchases is determined by subtracting from the previous balance of credit purchases any payments received and credits as posted to your account, but excluding any unpaid FINANCE CHARGES. On Cash Advances: A monthly Finance Charge will be imposed on Cash Advances from the date each Cash Advance is made or from the first day of the billing cycle in which each Cash Advance is posted to your account, whichever is later. This monthly Finance Charge will continue to accrue on the unpaid average daily balance of such Cash Advances until (i) the date of payment if paid during the same billing cycle, (ii) the closing date of the billing cycle preceding the date on which the entire New Balance is paid in full or (iii) the date of payment if more than twenty-five (25) days after the closing date The Finance charge for a billing cycle is computed by applying the monthly Periodic Rate, which is an Annual Percentage Rate, to the average daily balance of Cash Advances, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the billing cycle. Each daily balance of Cash Advances is determined by adding any new Cash Advances posted to your account during the billing cycle to the outstanding unpaid balance of Cash Advances at the beginning of the billing cycle, and subtracting any payments received or credits posted to your account during the billing cycle.
Finance Charges. A finance charge is the cost you pay for credit. We will charge Interest Charges and Fees to your account as described to you in your statements and other Truth in Lending Disclosures. The fol- lowing describes how the finance charge will be calculated on the Account. FINANCE CHARGES will be calculated on your Account purchases and balance transfers based on a variable Monthly Periodic Rate and a corresponding variable ANNUAL PERCENTAGE RATE that are determined by the Credit Union as follows: Credit Union starts with an independent index (the “Index”), which is The Wall Street Journal Prime Rate; when a range of rates has been published, the highest rate will be used. To determine the Monthly Periodic Rate that will apply to your Account, Credit Union adds a Margin of to the value of the Index. Your Margin is based on your creditworthiness; your specific Margin, ANNUAL PERCENTAGE RATE and corre- sponding Monthly Periodic Rate will be disclosed to you in other Truth-in-Lending disclosures. Credit Union then divides this sum by the number of months in a year (12). Credit Union then multiplies the Monthly Periodic Rate by the number of months in a year (12); the result is the ANNUAL PERCENTAGE RATE. The Monthly Pe- riodic Rate and ANNUAL PERCENTAGE RATE can change each year based on changes in the Index; the Credit Union will select the date of each year to choose the new Index value in Credit Union’s sole discretion. All changes in the Monthly Periodic Rate and AN- NUAL PERCENTAGE RATE will be based on application of the Margin and the Index. All changes to the Monthly Periodic Rate and ANNUAL PERCENTAGE RATE will be effective on the first day of the first billing cycle following Credit Union’s changes to the Monthly Periodic Rate and ANNUAL PERCENTAGE RATE. There is no limit on the amount by which the Monthly Periodic Rate and ANNUAL PERCENTAGE RATE can change during any period or the term of your Account. The maximum ANNUAL PERCENTAGE RATE that can apply is 18.00% or the maximum permitted by law, whichever is less. FINANCE CHARGES will be calculated on your Account cash ad- vances based on the ANNUAL PERCENTAGE RATE disclosed to you in other Truth-in-Lending disclosures and the corresponding Monthly Periodic Rate. You have a 25-day grace (no finance charge) period on your pur- chase balance and for new purchases if you paid the entire New Balance on your last statement by the end of the grace period. You also have a 25-day grace period for new purchases if...
Finance Charges. A FINANCE CHARGE will be imposed on all outstanding balances in your Account from the time they are posted to your Account; however, you can avoid FINANCE CHARGES on Purchases by paying the full amount of the New Balance of Purchases each month within 25 days of your statement closing date. Otherwise, the New Balance of Purchases will be subject to a FINANCE CHARGE. Cash Advances and Balance Transfers are always subject to FINANCE CHARGE from the date that they are posted to your Account. The periodic rate applicable to your account as of March 24, 2020 was .025% (corresponding ANNUAL PERCENTAGE RATE 9.15%). The periodic rate that will be applied to the balances in your Account is a variable rate based on the value of an index. The index is the highest “Prime Rate” as published in the Wall Street Journal, Eastern Daily Edition. Your ANNUAL PERCENTAGE RATE will be such prime rate plus 5.9%. Your daily periodic rate will be such ANNUAL PERCENTAGE RATE divided by the number of days in the year. Any change in the periodic rate will be effective the first day of the first complete billing cycle immediately following a published change in the index. The interest rate applied to your Account will increase if the Prime Rate increases. Any increase in the periodic rate may increase the number of payments required to pay your Account balance in full, and may cause your minimum payment to increase. Your daily periodic rate will not exceed .049315% (18% ANNUAL PERCENTAGE RATE). Your FINANCE CHARGE is based upon the average daily balance in your Account for the number of days in the billing cycle. The average daily balance in your Account is determined by taking the beginning balance in your Account each day, adding any new Purchases, Balance Transfers, and Cash Advances and subtracting any payment or credits. This gives us the daily balance. Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the “average daily balance”. The FINANCE CHARGE is determined by multiplying the average daily balance by the daily periodic rate, and then by multiplying that product by the number of days in the billing cycle.
Finance Charges. The FINANCE CHARGE is the amount of money that you pay for the money you borrow. You can avoid FINANCE CHARGES (interest) on your New Purchases balance by paying the entire account balance (shown as the Total New Balance) by the Account Statement’s “Payment Due” date. FINANCE CHARGES on New Purchase and Balance Transfer balances are calculated at the periodic rate between 0.67917% and 0.76250%, which corresponds to an ANNUAL PERCENTAGE RATE between 8.15% and 9.15%. FINANCE CHARGES on the average daily balances of Cash Advances are calculated at the periodic rate between 1.34583% and 1.42917% per month, which corresponds to an ANNUAL PERCENTAGE RATE between 16.15% and 17.15%.
Finance Charges. Lender may, but is not required to, deduct the amount of accrued Finance Charge from Collections received by Lender. On each Month End Borrower shall pay to Lender any accrued and unpaid Finance Charge as of such Month End. Lender may deduct the accrued Finance Charges in calculating the Refundable Reserve.
