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 following describes how the finance charge will be calculated on the Account. You have a 25-day grace (no finance charge) period on your purchase 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 you did not have a balance on your last statement. The grace period starts on the billing cycle closing date. If you do not pay the entire New Balance by the end of the grace period, a finance charge will be imposed on the unpaid balance from the first day of the next billing cycle and on new purchases from the date they are posted to your Account. There is no grace period for cash advances. A finance charge will be imposed on cash advances from the date the cash advance is posted to your Account. Balance transfers as permitted by Credit Union from time to time in Credit Union’s sole discretion will be treated as cash advances for the purpose of all finance charges and finance charge calculations. Finance charges on your Account are calculated by applying the applicable Monthly Periodic Rate to the average daily balances for purchases and cash advances. Separate average daily balances are calculated for purchases and cash advances. To get each average daily balance, the daily balances for purchases and cash advances for the billing cycle are added and the totals are divided by the number of days in the cycle. To get the daily balance for cash advances, new cash advances are added to the day’s beginning balance and payments and credits are subtracted. To get the daily balance for purchases, new purchases are added to the day’s beginning balance and payments and credits are subtracted; however, new purchases are not added if you paid the entire New Balance on your last statement by the end of the grace period or if you did not have a balance on your last statement. Fees and unpaid finance charges are not included in the calculation of the average daily balance. Finance charges will continue to accrue on your Account until what you owe under this Agreement is paid in full. Credit Union may offer balance transfer, introductory rate, or other special rate promotions for your Account from time to time in Credit Union’s sole discretion. The applicable Monthly P...
Finance Charges. On each Reconciliation Date Seller shall pay to Buyer a finance charge in an amount equal to 2.00 (%) 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. Lender may, but is not required to, deduct the amount of accrued Finance Charge from Collections received by Lender. Within 10 days of each Month End, Borrower shall pay to Lender any accrued and unpaid Finance Charge as of such Month End.
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, We take the beginning balance of Your Account each day, add any new purchases, balance transfers, cash advances, debit adjustments or other charges and subtract any payments, credits and unpaid Finance Charges. This gives Us the daily balance. Then, We add up all the daily balances for the billing cycle and divide them by the number of days in the billing cycle. The Finance Charge for a billing cycle is computed by multiplying the average daily balance subject to a Finance Charge by the Monthly Periodic Rate. VARIABLE RATE (EXCEPT VISA CLASSIC AND SECURED VISA CLASSIC). All
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.
Finance Charges. In the case of any transactions on 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, We take the beginning balance of Your Account each day, add any new purchases, balance transfers, cash advances, insurance premiums, debit adjustments or other charges and subtract any payments, credits and unpaid Finance
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 1.26250%, which corresponds to an ANNUAL PERCENTAGE RATE between 8.15% and 15.15%. FINANCE CHARGES on the average daily balances of Cash Advances are calculated at the periodic rate between 1.34583% and 1.52083% per month, which corresponds to an ANNUAL PERCENTAGE RATE between 16.15% and 18.25%.
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.
Finance Charges a. General Information; Annual Percentage Rates (APRs). We will not charge you interest on your Purchases if you pay your entire balance by your Payment Due Date each month and do not use your Account for Cash Advances, Balance Transfers or Convenience Checks prior to our receipt of payment. Your Payment Due Date is at least twenty-five days (25) after the close of your statement cycle. Otherwise, the New Balance and subsequent Purchases will be subject to interest from the posting date (which is the date that our credit card service processor posts the transaction to your Account). There is no grace period for Cash Advances or Balance Transfers. We will begin charging interest on Cash Advances, and Balance Transfers on the posting date. Convenience Checks, when available, will be treated like Balance Transfers for purposes of determining the interest charge. We calculate interest by applying the monthly periodic rates to the applicable Average Daily Balances of your Account, including current transactions. Periodic rates and Annual Percentage Rates (APRs) may increase or decrease every statement cycle, and are based on an index plus a margin. The margins, initial APRs and initial periodic rates are set forth in the Account Opening Disclosure for your Account. Should you choose not to accept the margins and APRs that apply to your Account, you may cancel your application prior to using the Account. For example, if the index is 5.00%, and if the margin applicable to your account is 8.40%, then we add the index and margin together to calculate the applicable APR: The index is the U.S. Prime Rate published in the Wall Street Journal. Please refer to the Account Opening Disclosure for information on how the APR will vary. The APRs applicable for a statement cycle will be set forth in the periodic statement for that statement cycle. We will not charge an APR greater than the maximum that we are permitted to charge by law (currently 18.0%). An increase in the APRs and the monthly periodic rates may result in higher interest charges and higher minimum payments, while a decrease in those rates may result in lower interest charges and lower minimum payments, assuming the same principal balance and number of days in the statement cycle. We separate (i) Purchases, (ii) Cash Advances, and (iii) Balance Transfers into three categories for purposes of determining the interest charges. We figure the interest charge for Purchases on your Account by applying the periodic r...
