Credit Plan definition
Examples of Credit Plan in a sentence
Each billing statement shows the Interest Charges, which are calculated separately for each: • Promotional Credit Plan with a unique due date or unique terms; • Regular Credit Plan The total interest charge for the billing cycle is the sum of the interest charge for each plan subject to the minimum interest charge shown in the chart.
Purchases that do not fall under one of these Plans are called Regular Credit Plan purchases.
The Interest Charge is the total of: • the applicable Daily Periodic Rate for the current cycle times the Daily Balance for each day in the current cycle; plus • the applicable Daily Periodic Rate for each prior cycle times the Daily Balances of the Credit Plan for each day during each prior cycle.
It is understood and agreed that your Credit Plan Agreement(s), your Accounts, all transactions on your Accounts, and any dispute defined herein shall involve Interstate Commerce.
A Promotional Credit Plan is strictly limited by its terms and the terms and conditions of the special promotion to which it relates.
In addition, the benefits of a Promotional Credit Plan will expire and all accrued Interest Charges in these plans will be added to your Account if you fail to pay the promotional balance by the end of the promotional period or you are in default for a period of 60 or more days during the promotional period.
Unless you are offered a Promotional Credit Plan as described below, and as not prohibited by Applicable Law, Interest Charges will begin to accrue upon delivery of the merchandise you purchase.
The Company shall retain a common fund for the Lay-Off Credit Plan which common fund shall be governed by a Trust Agreement.
The Minimum Payment Due is the total of minimum payments for Regular Revolving and Promotional Credit Plan purchases plus any Past Due amounts.
Any Claims Fund Positive Balance resulting from overall loss experience of the Group shall be available as a return of premium or to be taken into account in establishing the premium in subsequent years in accordance with a Refund or Credit Plan as adopted and amended from time to time by the Board of Directors of the Group.