Daily Periodic Rate means the APR divided by the number of days in the year (365 days, or 366 days in the case of a leap year). • Finance Charge is the cost of credit as a dollar amount. It includes the Interest Charge plus disclosed Transaction Fees. • Interest Charge is the periodic rate charge based on the applicable APR. It is a component of the Finance Charge and is defined in more detail in Section 6. Your Total Interest is a summary of the Interest Charges for each balance and associated APR.
Daily Periodic Rate or “DPR” means the applicable APR divided by 365.
Daily Periodic Rate or “DPR” means the applicable APR divided by 365 (by 366 during leap years). The DPR for Purchases and Cash Advances is 0.032876712329% (0.032786885246% in a leap year).
Examples of Daily Periodic Rate in a sentence
The Daily Periodic Rate (DPR) is 1/365th of the APR, rounded to the nearest one ten-thousandth of a percentage point.
The interest charged for a balance in a billing period, except for variations caused by rounding, equals: ● Average Daily Balance (ADB) multiplied by ● Daily Periodic Rate (DPR) multiplied by ● number of days the DPR was in effect.
The Daily Periodic Rate and the corresponding ANNUAL PERCENTAGE RATE may change (by increasing or decreasing) on the first day of each of your billing cycles that begin in March, June, September, and December.
The effect of any increase in the ANNUAL PERCENTAGE RATE and the Daily Periodic Rate for Purchases would be to increase the amount of interest you must pay and thus increase your monthly payments.
The Finance Charge for a billing cycle is computed by multiplying the average daily balance subject to a Finance Charge by the Daily Periodic Rate times the number of days in the billing cycle.
More Definitions of Daily Periodic Rate
Daily Periodic Rate or “DPR” means the applicable APR divided by 365 and “Monthly Periodic Rate” or “MPR” means applicable APR divided by 12. MPRs are used to calculate your interest charges if you are a resident of Iowa when your Account is opened. For all other persons, DPRs are used to calculate your interest.
Daily Periodic Rate. The corresponding daily periodic rate is: % - %. Minimum Payment Requirement: 2% of the outstanding balance.
Daily Periodic Rate or “DPR” means the applicable APR divided by 365 and “Monthly Periodic Rate” or “MPR” means applicable APR divided by 12.
Daily Periodic Rate. The Daily Periodic Rate will be 0.0436% with a corresponding APR of 15.90%.
Daily Periodic Rate means the rate we use to calculate the Interest Charge as described in this Business Visa® Credit Card Agreement. The Daily Periodic Rate is equal to the applicable APR divided by 365 (or 366 in a leap year).
Daily Periodic Rate means 1/365th of the Annual Percentage Rate as set forth in the Schedule of Fees and Charges. "Monthly Billing Statement" means the statement sent to you on a monthly basis reflecting all charges and credits to your Account for each Billing Cycle. "New Balance" means the total of the Previous Balance together with New Credit Purchases, Cash Advances, accrued Finance Charge and other fees and charges, less payments and credits, posted to your Account during a Billing Cycle. "New Credit Purchase(s)" means the Credit Purchase(s) posted to your Account during the Billing Cycle reflected on your most recent Monthly Billing Statement. "Payment Due Date" means the date specified on your Monthly Billing Statement as the Payment Due Date for payment to the Credit Union on your Account. "Preauthorized Charges" means Credit Purchases for which you have given your preauthorization for a merchant or other person to debit your Account at specified times. "Previous Balance" means the balance of your Account at the beginning of a Billing Cycle, which is the same amount as that shown on the "New Balance" on your Monthly Billing Statement for the immediately preceding Billing Cycle. "Schedule of Fees and Charges" means the schedule shown at the end of this Agreement, including all amendments to that schedule, which lists the costs associated with your Account. "Unauthorized Use" means the use of your Card by a person who does not have actual, implied or apparent authority to use that Card. If you receive a benefit from the use of a Card by another or if a Card is used by an Authorized User, such use will not be regarded as Unauthorized Use. 2.
Daily Periodic Rate. The Daily Periodic Rate will be 0.0192% with a corresponding APR of 7.00%. Penalty Daily Periodic Rate: The Penalty Daily Periodic Rate is 0.0329% with a corresponding APR of 12.00%. Application of Penalty APR: Your APR may be increased to the disclosed Penalty APR if You terminate employment with Us for any reason, voluntary or otherwise, unless You have accumulated 10 years of employment with the Credit Union at the time of termination. Phone Transfer: $3.00 for each transaction. Late Payment Fee: 20.00% of the interest due will be charged to Your Account if You are 10 or more day(s) late in making a payment. Returned Payment Fee: $29.50 will be charged to Your Account if Your payment is returned for any reason. Minimum Payment: $140.00 Your minimum payment is determined by Your Credit Limit. However, Your minimum payment will never exceed Your outstanding balance. If Your credit limit increases, Your minimum payment will be adjusted accordingly. CREDIT AGREEMENT