Common use of Applying Your Payments Clause in Contracts

Applying Your Payments. Your payment will be applied in a manner we determine. Subject to applicable law, we will apply your payment amounts in excess of your minimum payment (to the extent sufficient) to pay balances with higher interest charges before applying it to balances with lower interest charges. Subject to applicable law, we may adjust from time to time the date we use to determine the applicable interest rates and balances for applying your payment amounts in excess of your minimum payment. Notwithstanding the foregoing, if a balance on your account is subject to deferred interest or a similar program under which you are not obligated to pay interest on that balance if you pay that balance in full within a specified period, we will apply your payment amounts in excess of your minimum payment during the two billing cycles immediately preceding the expiration of that specified period (to the extent sufficient) to pay that balance. Subject to applicable law, we reserve the right to change the order in which we apply payments. The sooner you pay the New Balance, the less you will pay in interest charges.

Applying Your Payments. Your payment will be applied in a manner we determinedetermine . Subject to applicable law, we will apply your payment amounts in excess of your minimum payment (to the extent sufficient) to pay balances with higher interest charges before applying it to balances with lower interest chargescharges . Subject to applicable law, we may adjust from time to time the date we use to determine the applicable interest rates and balances for applying your payment amounts in excess of your minimum paymentpayment . Notwithstanding the foregoing, if a balance on your account is subject to deferred interest or a similar program under which you are not obligated to pay interest on that balance if you pay that balance in full within a specified period, we will apply your payment amounts in excess of your minimum payment during the two billing cycles immediately preceding the expiration of that specified period (to the extent sufficient) to pay that balancebalance . Subject to applicable law, we reserve the right to change the order in which we apply paymentspayments . The sooner you pay the New Balance, the less you will pay in interest chargescharges .