ALLOCATION OF YOUR PAYMENTS. How do we allocate your minimum payment? Your account may have balances in categories of charges with different interest rates. For example, purchases may have a lower interest rate than funds advances. If your account has balances in categories with different interest rates, we will generally apply your payments up to and including the minimum payment to balances with the lowest interest rate and then to balances with higher interest rates. For example, we could allocate any payment amount up to and including the minimum payment, generally to balances with the lowest interest rate to balances with the highest interest rate within a category in the following order: • monthly installment fees, • interest charges, • fees, • credit insurance premiums, • taxes that appear as a separate item on your statement, • monthly installments (principal amount), • balances in other categories of charges that appear on your statement (including purchases, Amex cheques and balance transfers and funds advances), and • charges which have not yet appeared on your statement but are posted to your account. If you only pay the minimum payment required each month, the monthly installment and associated fee will always be paid in full. This could result in the full balance of one or more categories of fees not being paid in full. In addition, we may not pay the full balance in each category of charges if you make more than one payment to cover your minimum payment or if you have a special rate offer on your account. How do we allocate your payment greater than the minimum payment? Any payments over the minimum payment amount will be applied proportionally across categories of charges with different interest rates. A proportional payment is applied based on the percentage that the balance in each category represents of the total balance owing for the billing period. Examples of categories are: • balances on your statement (including purchases, Amex cheques and balance transfers and funds advances), • credit insurance premiums, • taxes that appear as a separate item on your statement, • interest charges and fees. Balances within a category that are (or originally were) subject to different interest rates can also be considered separate categories of balances. When applying payments to each category of charges, we will round down and not include any fraction of each payment amount that is less than one cent. We will separately apply the total of any remaining fractions as a payment t...
ALLOCATION OF YOUR PAYMENTS. Your account may have balances in categories of charges with different interest rates or where interest does not apply. For example, due in full balances may be subject to a higher interest rate than balances within the flexible payment option limit. We will generally apply your payments up to and including the minimum payment to balances that are due in full that billing period. We will normally apply payments to your account in the following order: • first, to interest on all charges (where applicable), • second, to dishonoured payment fees, • third, to fees for services provided by us that appear as a separate item on a statement, • fourth, to insurance premiums that are optional services offered through us, • fifth, to any taxes charged by us that appear as a separate item on a statement, • sixth, to any due in full purchase balances and funds advances that have appeared on a statement, • seventh, to any flexible payment option balances that have appeared on your statement, • and last, to transactions that have not yet appeared on a statement but are posted to your account. If you only pay the minimum payment required each month, due in full balances will always be paid in full. If you pay an amount in excess of the minimum payment amount but less than the new balance, your minimum payment amount (including due in full balances) will normally be paid first. The first six categories of balances will normally form part of your minimum payment. The seventh category of balances will always be part of the flexible payment option balance except for small amounts allocated to your minimum payment as per the section titled Minimum Payment (specifically, $10 for cardmembers outside Quebec and the applicable percentage of the balance for Cardmembers within Quebec). The final category of balances are not yet due and would only be paid once all balances due that billing period have been paid in full.
ALLOCATION OF YOUR PAYMENTS. We will normally apply payments to your account in the following order: • first, to interest on all charges (except for annual card membership fees and interest), • second, to purchases and funds advances that have appeared on a statement, • third, to any taxes charged by us that appear as a separate item on a statement, • fourth, to insurance premiums that are optional services offered through us, • fifth, to fees for services provided by us that appear as a separate item on a statement, • sixth, to dishonoured payment fees, • seventh, to annual card membership fees (if payable), • and last, to purchases that have not yet appeared on a statement.
ALLOCATION OF YOUR PAYMENTS. We will normally apply payments to your account in the following order: • first, to applicable delinquency charges, linked Credit Card account minimum dues, if any, purchases, in that order; • second, to fees; • third, to other fees charged by us that appear as a separate item on your monthly statement, for example statement reprint fees; and • fourth, to charges, other than those above.
ALLOCATION OF YOUR PAYMENTS. When utilising the FPO facility on your Linked account, we will normally apply payments received from you in the following order: • first, to Interest Charges; • second, to Account Fees; • third, to any Overdue balance; • fourth, to any balance on your statement exceeding your FPO Limit; • fifth, to any balance on your statement within your FPO Limit; • sixth, to any charges that have not yet appeared on your statement. Within any category of items, we apply payments first to the item with the lowest interest rate or, for items on the same interest rate, first to the oldest item.
ALLOCATION OF YOUR PAYMENTS. We will apply payments to your account in the following order: – overdue amounts collections then recovery fees; – interest; – late, over-limit then dishonoured payment fees; – annual membership fees (if payable); – other fees for services provided by us that appear as a separate item on your monthly statement, for example, statement reprint fees; – consumer credit insurance premiums; – balance transfers; – other amounts that have appeared on your monthly statement; and – any amounts that have not yet appeared on your monthly statement. Within any category of items, we apply payments first to the item with the lowest interest rate or, for items on the same interest rate, first to the oldest item.
ALLOCATION OF YOUR PAYMENTS. When utilising the FPO facility on your Linked Charge Card Account, we will apply payments received from you toward the closing balance on your latest statement in the following order: first, to any amounts in excess of your FPO limit, then to other amounts on your statement and thereafter, to amounts that have not yet appeared on your statement. If within a category, there are amounts with different interest rates, then we will allocate payments to the amount with the highest interest rates first.
ALLOCATION OF YOUR PAYMENTS. 14.1 We will apply payments to balances bearing the highest interest rate first. In applying this principle, we will first apply payments to amounts that have appeared on your monthly statement, and we may secondly, apply payments to amounts that have not yet appeared on your monthly statement.
ALLOCATION OF YOUR PAYMENTS. We will normally apply payments to your account in the following order: • first, to applicable delinquency charges, linked credit Card account minimum dues, if any, purchases, in that order; • second, to annual Card Membership fees, fees; • third, to other fees charged by us that appear as a separate item on your monthly statement, for example and statement reprint fees; and • fourth, to charges, other than those above. However, for servicing, administrative, systems or other business reasons, we may apply payments to your account in some other order or manner that we may determine in our discretion. You agree that we may do so in a way that is favourable or convenient to us.
ALLOCATION OF YOUR PAYMENTS. We will normally apply payments to your account in the following order: • first, to applicable delinquency charges, linked credit card account minimum dues, if any, purchases, in that order; • second, to fees; • third, to other fees charged by us that appear as a separate item on your monthly statement, for example statement reprint fees; and • fourth, to charges, other than those above.
