Examples of Balance Transfer in a sentence
In connection with Cash Advances and Balance Transfers, the first monthly billing statement after you receive a Cash Advance or Balance Transfer will include an Interest Charge from the date the transaction is posted to your Account.
If the Cash Advance and Balance Transfer portion of the New Balance and the Interest Charge applicable thereto are not paid in full and credited to the Account by the “Payment Due Date” shown on the first monthly billing statement to which the Cash Advance and Balance Transfer is billed, any balance remaining becomes a part of the “Previous Balance” on Cardholder’s next periodic statement and is computed as part of the Average Daily Balance for Purchases.
Balance Transfer transactions are subject to a Balance Transfer Fee FINANCE CHARGE of two percent (2.00%) of the amount of the Balance Transfer that is posted to the Account during the billing cycle.
The second (2nd) component of the FINANCE CHARGE is the Balance Transfer Fee.
However, Balance Transfer Fee shall not be less than $5.00 or greater than $50.00 for each Balance Transfer.