Common use of Minimum Payment Due Clause in Contracts

Minimum Payment Due. If by the payment due date you do not pay your balance in full, you agree to pay at least the minimum billed payment amount of 2% of the New Balance (rounded up to the next whole dollar) or $20, whichever is greater. Should your New Balance be less than $20, you agree to pay the New Balance in full by the payment due date. The credit union will acquire a security interest in the property purchased with your credit card and collateral securing other loans with us may also secure this account. Also, you are giving us a security interest in your shares and other deposits in the credit union. THIS IS YOUR AGREEMENT AND DISCLOSURE STATEMENT WITH GREENVILLE FEDERAL CREDIT UNION. PLEASE READ IT CAREFULLY AND KEEP IT FOR YOUR RECORDS. IT SUPERSEDES ALL PRIOR AGREEMENTS AND DISCLOSURE STATEMENTS RELATING TO YOUR ACCOUNT. YOU DO NOT HAVE TO SIGN THIS AGREEMENT. YOUR AGREEMENT TO ALL OF THESE PROVISIONS, AS AMENDED FROM TIME TO TIME INCLUDING THE CARD ISSUED BY US, WILL BE SHOWN BY YOUR APPLICATION FOR THE CARD, YOUR ACCEPTANCE OF THE CARD, OR YOUR USE OF THE CARD, WHICHEVER OCCURS FIRST.

Minimum Payment Due. If by the payment due date you do not pay your balance in full, you agree to pay at least the minimum billed payment amount of 2% of the New Balance (rounded up to the next whole dollar) or $20, whichever is greater. Should your New Balance be less than $20, you agree to pay the New Balance in full by the payment due date. *The Credit Union, at its sole discretion, may change the APR from time to time in compliance with applicable laws and/or regulations. Any change in the APR will apply to new Purchases, Balance Transfers, and Cash Advances. The credit union will acquire a security interest in the property purchased with your credit card and collateral securing other loans with us may also secure this account. Also, you are giving us a security interest in your shares and other deposits in the credit union. THIS IS YOUR AGREEMENT AND DISCLOSURE STATEMENT WITH GREENVILLE FEDERAL CREDIT UNION. PLEASE READ IT CAREFULLY AND KEEP IT FOR YOUR RECORDS. IT SUPERSEDES ALL PRIOR AGREEMENTS AND DISCLOSURE STATEMENTS RELATING TO YOUR ACCOUNT. YOU DO NOT HAVE TO SIGN THIS AGREEMENT. YOUR AGREEMENT TO ALL OF THESE PROVISIONS, AS AMENDED FROM TIME TO TIME INCLUDING THE CARD ISSUED BY US, WILL BE SHOWN BY YOUR APPLICATION FOR THE CARD, YOUR ACCEPTANCE OF THE CARD, OR YOUR USE OF THE CARD, WHICHEVER OCCURS FIRST.