Calculating Interest. Interest shall be calculated over the daily balance. It will be reflected at the end of the period, as a total, based on a three hundred and sixty (360) day calendar year. Interest will start accruing: a) On the date of the transaction with the Card; b) On the date of the cash withdrawal. Interest due and unpaid shall be capitalized at MMG’s option in which case they shall accrue interest at the annual percentage rate in place by MMG.
Appears in 2 contracts
Sources: Credit Card Agreement, Credit Card Agreement