Average Daily Balance. To obtain the daily balance for each Balance Category we take the beginning balance each day and add new transactions applicable to each category, and subtract any payments, credits, and refunds applied to the category. To figure your Average Daily Balance for each Balance Category, we add all your daily balances and divide by the number of days in the billing period.
Appears in 6 contracts
Samples: Credit Card Agreement, Credit Card Agreement, Credit Card Agreement
Average Daily Balance. To obtain the daily balance for each Balance Category we take the beginning balance each day and add new transactions applicable to each category, and subtract any payments, credits, and refunds applied to the category. To figure your Average Daily Balance for each Balance Category, we add all your daily balances and divide by the number of days in the billing period. We calculate interest in this manner separately for Purchases, Cash Advances and each promotional rate balance.
Appears in 2 contracts
Samples: Consumer Secured Cardholder Agreement, Cardholder Agreement
