ARE COMPUTED. Principal balances of Purchases, Cash Advances and Balance Transfers are determined each day during the statement period, beginning with the principal portion of your Previous Balances, reduced by payments you make and credits we apply during the statement period, and increased by Purchases, Cash Advances and Balance Transfers you make, and debit adjustments we make during the statement period. The Finance Charges for a billing cycle are computed by applying the Periodic Rate to the “average daily balance” of purchases (and if applicable, cash advances). To get the average daily balance, we take the beginning balance of your account each day, add any new purchases, cash advances and balance transfers, and subtract any payments, credits, non-accruing fees, and unpaid finance charges. This gives us the daily balance. Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. All Automated Teller Machine (ATM) transactions, Credit Card Checks, Overdraft Protection Advances and Cash Advances with the Card(s) (however made, including online) are considered Cash Advances.
