Common use of Balance Upon Which An Interest Charge Will Be Imposed Clause in Contracts

Balance Upon Which An Interest Charge Will Be Imposed. We figure a portion of the interest charge on the Account by applying a Monthly Periodic Rate to each of the “average daily balances” of Purchases (including current transactions), Balance Transfers, and Cash Advances and adding the results. (a) To get the “average daily balance” of Purchases, we take the beginning balance of your Account each day, add any new Purchases as of the date the transaction is posted to your Account, and subtract any payments or credits, unpaid interest charges, and other charges, as of the date of posting, and outstanding Cash Advances and Balance Transfers. This gives us the daily balance for Purchases. Then we add all these daily balances for the Billing Cycle together and divide the total by the number of days in the Billing Cycle. This gives us the “average daily balance” of Purchases. If the Previous Balance is paid in full during the first 25 days of the Billing Cycle, the “average daily balance” of Purchases will be considered to be $0. (b) To get the “average daily balance” of Balance Transfers, we take the beginning balance of your Account each day, add any new Balance Transfers as of the date the transaction is posted to your Account, and subtract any payments or credits, unpaid interest charges and other charges, as of the date of posting, and outstanding Cash Advances and Purchases. This gives us the daily balance for Balance Transfers. Then we add all of these daily balances for the Billing Cycle together and divide the total by the number of days in the Billing Cycle. This gives us the “average daily balance” of Balance Transfers. (c) To get the “average daily balance” of Cash Advances, we take the beginning balance of your Account each day, add any new Cash Advances as of the date of the transaction and subtract any payments or credits, unpaid interest charges and other charges, as of the date of posting, and outstanding Purchases and Balance Transfers. This gives us the daily balance for Cash Advances. Then, we add all of these daily balances for the Billing Cycle together and divide the total by the number of days in the Billing Cycle. This gives us the “average daily balance” of Cash Advances.

Balance Upon Which An Interest Charge Will Be Imposed. We figure a portion of the interest charge on the Account by applying a Monthly Periodic Rate to each of the “average daily balances” of Cash Advances and Purchases (including current transactions), Balance Transfers, and Cash Advances ) and adding the results. (a) To get the “average daily balance” of Cash Advances, we take the beginning balance of your Account each day, add any new Cash Advances as of the date of the transaction and subtract any payments or credits, unpaid interest charges and other charges, as of the date of posting, and outstanding Purchases and Balance Transfers. This gives us the daily balance for Cash Advances. Then, we add all of these daily balances for the Billing Cycle together and divide the total by the number of days in the Billing Cycle. This gives us the “average daily balance” of Cash Advances. (b) To get the “average daily balance” of Purchases, we take the beginning balance of your Account each day, add any new Purchases as of the date of the transaction is posted to your Accounttransaction, and subtract any payments or credits, unpaid interest charges, and other charges, as of the date of posting, and outstanding Cash Advances and Balance Transfers. This gives us the daily balance for Purchases. Then we add all these daily balances for the Billing Cycle together and divide the total by the number of days in the Billing Cycle. This gives us the “average daily balance” of Purchases. If the Previous Balance is paid in full during the first 25 days of the Billing Cycle, the “average daily balance” of Purchases will be considered to be $0. (bc) To get the “average daily balance” of Balance Transfers, we take the beginning balance of your Account each day, add any new Balance Transfers as of the date the transaction is posted to your Account, and subtract any payments or credits, unpaid interest charges and other charges, as of the date of posting, and outstanding Cash Advances and Purchases. This gives us the daily balance for Balance Transfers. Then we add all of these daily balances for the Billing Cycle together and divide the total by the number of days in the Billing Cycle. This gives us the “average daily balance” of Balance Transfers. (c) To get the “average daily balance” of Cash Advances, we take the beginning balance of your Account each day, add any new Cash Advances as of the date of the transaction and subtract any payments or credits, unpaid interest charges and other charges, as of the date of posting, and outstanding Purchases and Balance Transfers. This gives us the daily balance for Cash Advances. Then, we add all of these daily balances for the Billing Cycle together and divide the total by the number of days in the Billing Cycle. This gives us the “average daily balance” of Cash Advances.