Current Payment Due definition

Current Payment Due each month is the greater of $10.00 or 3% of the “Total New Balance” rounded up to the nearest dollar. Effective August 22, 2010: the “Current Payment Due” each month changes to the greater of $25.00 or 3% of the “Total New Balance” rounded up to the nearest dollar. The “Current Payment Due” must be received by at least 5:00 PM on the “Payment Due Date” which will be on the same date every month and no less than 25 days from the end of the prior billing statement closing date. When Your Payment will be Credited to Your Account – If you make your payment in person at one of our branches, your payment will be credited on the same day you make the transaction. Payments made electronically before 5:00 PM will be credited on the same day except for Sunday and Federal Holidays. Mailed payments will be credited as of the date they are received. If your “Payment Due Date” is a Sunday or Federal Holiday, you will not be considered late for any purpose and will not incur a late payment fee if your payment is made by the next business day that we are open. Payment Allocation – You may pay more than the “Current Payment Due” and make payments to your Account at any time without penalty. If your Total Outstanding Balance is made of balances with different APRs, we will allocate funds you pay over the “Current Payment Due” to the balance with the highest APR first, and any remaining excess funds after that to the next highest APR in descending order. This will result in balances with higher APRs to be paid before any others. If your credits and payments exceed the total balance owed on the Account, your Account will show a credit balance and the funds will be applied against future purchases, transfers or cash advances. If the credit balance amount is $1.00 or more, it will be refunded upon your written request or automatically after six (6) months. Change-in-term Notice – Factors such as changes in products, market conditions, financial considerations, and other unforeseen circumstances may require us to amend the terms of your account from time to time. The law requires that we disclose certain “significant changes” in terms to you at least 45 days in advance. If we make one of these “significant changes” in the terms of your Account, we will make available to you a written change-in-terms notice at least 45 days before the change takes effect. Opt-out – Change-in-term notices that you may receive in the future will include the reason(s) for the change and a statement...
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Examples of Current Payment Due in a sentence

  • Your Minimum Payment is the total of your Current Payment Due, plus any past due payments and any amount over your credit limit.

  • Your Current Payment Due will be determined by the following schedule: Under $15 Entire Amount $15 to $500 $15 Over $500 3% of the New Balance You may pay more frequently and more than the Minimum Payment Due, but only payments made after the Periodic Statement Date will be credited to the Minimum Payment Due for that Periodic Statement.

  • The Total Amount Due shown on the statement is equal to the sum of the Current Payment Due PLUS any Past Due Amount, PLUS any payment due on promotional balances required by the terms of a promotion.

  • If there is no Past Due Amount or promotional balance, then the Total Amount Due shown on the statement will equal the Current Payment Due.

  • You, or the Individual Cardholder if the Account has Individual Billing, may pay the Total Amount Due shown on the statement or any greater amount, but Bank must receive at least the Total Amount Due shown on the statement, in immediately available U.S. funds drawn on a U.S. bank, by the Current Payment Due Date shown on the statement.

  • Each statement you receive from us will identify a Minimum Payment and Current Payment Due.

  • Your Minimum Payment and Current Payment Due will be rounded to the nearest ▇▇▇▇▇, unless doing so will cause the resulting value to exceed the New Balance.

  • The Current Payment Due Date will be at least 25 days after the Statement Closing Date.

  • The Current Payment Due is equal to the greater of 3% of the New Balance or $20.

  • Your Current Payment Due will be determined by the following schedule: New Balance Current Payment Due Under $15 Entire Amount $15 to $500 $15 Over $500 3% of the New Balance You may pay more frequently and more than the Minimum Payment Due, but only payments made after the Periodic Statement Date will be credited to the Minimum Payment Due for that Periodic Statement.