Common use of Annual Percentage Rate Clause in Contracts

Annual Percentage Rate. The Annual Percentage Rate(s) (often referred to as “APR(s)”) that apply to the Account may be variable or non-variable and are identified in your Pricing Schedule. Depending on the Account, there may be different APRs for different types of transactions. For example, a Purchase may be subject to a different APR than a Cash Advance. If your APR is variable, it will vary with the market based on the Prime Rate. If the Prime Rate changes, a variable APR may increase or decrease. If a variable APR increases, you will pay more interest on your transactions and may have a higher Minimum Payment Due. Each billing period, we determine any variable APRs for the Account by adding a number of percentage points called the margin (that is shown on your Pricing Schedule) to the Prime Rate published in the Money Rates section of The Wall Street Journal (the “Prime Rate”). This sum is the APR that will apply to the applicable balances for the entire billing cycle covered by that billing statement. The Prime Rate we use for each billing cycle is determined as of the Index Date. The “Index Date” is the 15th day of the calendar month immediately prior to the statement closing date of your current billing statement. If the Prime Rate is not published on the 15th day (for example, it is a weekend or holiday), the Index Date will be the next day on which the Prime Rate is published. If the Prime Rate ceases to be published, we will choose a substitute index and margin in accordance with applicable law. The Regular APR(s) that apply to the Account are identified in your Pricing Schedule. A “Regular APR” applies to a balance that is not subject to a Promotional APR. In our sole discretion, when the Account is initially opened or from time to time after your Account is opened, we may offer you a ”Promotional APR” that is different than the Regular APR that otherwise applies to the Account. The terms of any Promotional APR that we offer to you will either be described in your Pricing Schedule or provided to you by other means, such as in a separate document.

Annual Percentage Rate. (APR). The Annual Percentage Rate(sANNUAL PERCENTAGE RATE (APR) (often referred to as “APR(s)”) that apply will be a VARIABLE rate. Variable rates are calculated by adding together a margin and an index. A margin is the percent added to the Account may be variable or non-variable and are identified in your Pricing Scheduleindex to calculate APR. Depending on The index is the Account, there may be different APRs for different types of transactions. For example, a Purchase may be subject to a different APR than a Cash Advance. If your APR is variable, it will vary with the market based on the Prime Rate. If the highest U.S. Prime Rate changes, a variable APR may increase or decrease. If a variable APR increases, you will pay more interest on your transactions and may have a higher Minimum Payment Due. Each billing period, we determine any variable APRs for the Account by adding a number of percentage points called the margin (that is shown on your Pricing Schedule) to the Prime Rate as published in the "Money Rates Rates" section of The Wall Street Journal (on the “Prime Rate”)last publication day of each month. This sum is An increase or decrease in the APR that index will apply to cause a corresponding increase or decrease in your variable rates on the applicable balances for the entire first day of your billing cycle covered by that billing statement. The Prime Rate we use for each billing cycle is determined as of begins in the Index Date. The “Index Date” is the 15th day of the calendar same month immediately prior to the statement closing date of your current billing statement. If the Prime Rate is not published on the 15th day (for example, it is a weekend or holiday), the Index Date will be the next day on in which the Prime Rate index is published. An increase in the index means that you will pay higher interest charges and have a higher Total Minimum Payment Due. If The Wall Street Journal does not publish the U.S. Prime Rate ceases to be publishedRate, or if it changes the definition of the U.S. Prime Rate, we will choose a substitute index and margin may, in accordance with applicable law. The Regular APR(s) that apply to the Account are identified in your Pricing Schedule. A “Regular APR” applies to a balance that is not subject to a Promotional APR. In our sole discretion, substitute another index. However, we may choose at our option and in our sole discretion to delay an APR increase resulting from an increase to the Prime Rate by one or more billing cycles. We do not have to give you advance notice of changes to the APR that are due to changes to the Prime Rate. Account statements will show the APRs that were in effect during the billing cycles covered by the statements. We also reserve the right to re-determine the margin that applies to your Account more frequently than and/or on dates other than those described above when the Account Prime Rate itself is initially opened subject to change. We may review your credit worthiness several times a year. Based on changes to various risk factors, including but not limited to, credit scores and other information obtained from various outside agencies, your margin (and therefore your APR) may be increased or decreased from time to time time. However, we will not increase your margin during the first year after your Account is opened. If your margin and APR are increased due to a change in any of these risk factors, we may offer your Account will be reviewed semi-annually in an effort to restore your previous margin and previous APR. We will give you a ”Promotional APR” that is different than advance written notice of the Regular APR that otherwise applies effective date for any increase to the Accountmargin and any corresponding increase to your APR, as required by applicable law. The terms An increase to your APR (whether due to an increase to your margin or an increase to the Prime Rate) will increase the Finance Charges payable on your Account until your APR decreases (whether due to a decrease to the Prime Rate or a decrease to your margin). Regardless of any Promotional APR that we offer to you the rate as determined by adding the Prime Rate and your margin, the Annual Percentage Rate will either be described in your Pricing Schedule or provided to you by other means, such as in never exceed 18% (a separate documentmonthly periodic rate of 1.5%).

Annual Percentage Rate. The Annual Percentage Rate(s) (often referred to as “APR(s)”) that apply to the Account may be variable or non-variable and are identified identifed in your Pricing Schedule. Depending on the Account, there may be different diferent APRs for different diferent types of transactions. For example, a Purchase may be subject to a different diferent APR than a Cash Advance. If your APR is variable, it will vary with the market based on the Prime Rate. If the Prime Rate changes, a variable APR may increase or decrease. If a variable APR increases, you will pay more interest on your transactions and may have a higher Minimum Payment Due. Each billing period, we determine any variable APRs for the Account by adding a number of percentage points called the margin (that is shown on your Pricing Schedule) to the Prime Rate published in the Money Rates section of The Wall Street Journal (the “Prime Rate”). This sum is the APR that will apply to the applicable balances for the entire billing cycle covered by that billing statement. The Prime Rate we use for each billing cycle is determined as of the Index Date. The “Index Date” is the 15th day of the calendar month immediately prior to the statement closing date of your current billing statement. If the Prime Rate is not published on the 15th day (for example, it is a weekend or holiday), the Index Date will be the next day on which the Prime Rate is published. If the Prime Rate ceases to be published, we will choose a substitute index and margin in accordance with applicable law. The Regular APR(s) that apply to the Account are identified identifed in your Pricing Schedule. A “Regular APR” applies to a balance that is not subject to a Promotional APR. In our sole discretion, when the Account is initially opened or from time to time after your Account is opened, we may offer ofer you a ”Promotional APR” that is different diferent than the Regular APR that otherwise applies to the Account. The terms of any Promotional APR that we offer ofer to you will either be described in your Pricing Schedule or provided to you by other means, such as in a separate document.