Available Spend definition
Examples of Available Spend in a sentence
As is explained in Section 1.b above, when you make a purchase with your Debit Card or from the Extra Rewards Program, Extra will instruct the Issuing Bank to authorize the transaction and will advance funds for the transaction on your behalf, provided you have sufficient Available Spend Power.
In using Extra Services, including the EDPS, you acknowledge and agree that the total spending availability accessible to you at any given time for use in Debit Card or Extra Rewards Program transactions is limited to your Available Spend Power, as determined by Extra and displayed in the Extra App.
Max Spend Power is the highest amount you could access prior to Available Spend Power calculations and is assigned based on Extra’s proprietary risk model determination.
Your Available Spend Power may also be reduced by transactions you make that are not yet repaid.
The OLOC and related Extra Services provide access to spending availability to allow you to use your Debit Card or in Extra Rewards Program transactions as limited based on your Available Spend Power (as defined below in Section 1.b.iv).
We provide the Issuing Bank an authorization to approve transactions made using your Debit Card only if (i) you have sufficient Available Spend Power at the time of each transaction (ii) you have not exceeded other Transaction Limits under these Terms or the Debit Card Cardholder Agreement, and (iii) you are not otherwise in violation of these Terms or of the Debit Card Cardholder Agreement.
Max Spend Power is the highest amount you are able to access regardless of your Available Spend Power and Partner Account balance and is assigned based on Extra’s proprietary risk model determination.
We reserve the right to only authorize Extra Rewards Program purchases if (i) you have sufficient Available Spend Power at the time of each transaction (ii) you have not exceeded other Transaction Limits under these Terms or the Debit Card Cardholder Agreement, and (iii) you are not otherwise in violation of these Terms or of the Debit Card Cardholder Agreement.
If you do not have an OLOC and have a Debit Card issued by Patriot Bank or are making Extra Rewards Program purchases not covered by your OLOC, your Available Spend Power is the specific amount of funds available for use in connection with your Debit Card or for use in Extra Rewards Program transactions.
If you have selected the 14-day repayment option described above, your Available Spend Power will be restricted by the amount of each purchase until we receive an ACH or other repayment for that purchase, which can be made manually in the Extra App.