Common use of Balances Subject to Interest Charge Clause in Contracts

Balances Subject to Interest Charge. (i) For each Balance Type, the Balance Subject to Interest Charges is the Average Daily Balance for such Balance Type. The Average Daily Balance for a Billing Cycle equals the sum of the daily Purchases or Cash Advances balances, as applicable, for each day of the Billing Cycle, divided by the number of days in the Billing Cycle. (ii) The Purchases balance for each day in the Billing Cycle is computed as follows: (A) For each day (including the first day of the Billing Cycle), we start with the prior day’s closing balance of Purchases, if any. (B) For the first day of the Billing cycle, we add any unpaid Interest Charges on Purchases that accrued during the prior Billing Cycle. (This results in the monthly compounding of Interest Charges.) (C) For each day in the Billing Cycle (including the first day of the Billing Cycle), we add any new Purchases posted to your Account and subtract any payments or credits applied to Purchases. However, we do not subtract a second time any payments or credits that have already been subtracted in step (B) above. (D) We treat any negative daily balance as $0. (iii) To get the daily balance of Cash Advances each day: (i) we take the previous day’s balance of Cash Advances (if any); (ii) we add any new Cash Advances; and (iii) we subtract any new payments or credits applied to Cash Advances. For the first day of each Billing Cycle, we also add any unpaid Interest Charges on Cash Advances that accrued during the prior Billing Cycle. (This results in the monthly compounding of Interest Charges.) If a Cash Advance obtained in a Billing Cycle is not posted in that Billing Cycle, we add the Cash Advance to the daily balance on the first day of the next Billing Cycle instead of the day it was obtained. We treat any negative daily balance as $0.

Balances Subject to Interest Charge. (i) For each Balance Type, the Balance Subject to Interest Charges is the Average Daily Balance for such Balance Type. The Average Daily Balance for a Billing Cycle equals the sum of the daily Purchases or Cash Advances balances, as applicable, for each day of the Billing Cycle, divided by the number of days in the Billing Cycle. (ii) The Purchases balance for each day in the Billing Cycle is computed as follows: (A) For each day (including the first day of the Billing Cycle), we start with the prior day’s closing balance of Purchases, if any. (B) For the first day of the Billing cycle, we add any unpaid Interest Charges on Purchases that accrued during the prior Billing Cycle. (This results in the monthly compounding of Interest Charges.) (C) For each day in the Billing Cycle (including the first day of the Billing Cycle), we add any new Purchases posted to your Account and subtract any payments or credits applied to Purchases. However, we do not subtract a second time any payments or credits that have already been subtracted in step (B) above. (D) We treat any negative daily balance as $0. (iii) To get the daily balance of Cash Advances (including Balance Transfers) each day: (i) we take the previous day’s balance of Cash Advances (if any); (ii) we add any new Cash Advances; and (iii) we subtract any new payments or credits applied to Cash Advances. For the first day of each Billing Cycle, we also add any unpaid Interest Charges on Cash Advances that accrued during the prior Billing Cycle. (This results in the monthly compounding of Interest Charges.) If a Cash Advance obtained in a Billing Cycle is not posted in that Billing Cycle, we add the Cash Advance to the daily balance on the first day of the next Billing Cycle instead of the day it was obtained. We treat any negative daily balance as $0.

Balances Subject to Interest Charge. (i) For each Balance Type, the Balance Subject to Interest Charges is the Average Daily Balance for such Balance Type. The Average Daily Balance for a Billing Cycle equals the sum of the daily Purchases or Cash Advances balances, as applicable, for each day of the Billing Cycle, divided by the number of days in the Billing Cycle. (ii) The Purchases balance for each day in the Billing Cycle is computed as follows: (A) For each day (including the first day of the Billing Cycle), we start with the prior day’s closing balance of Purchases, if any. (B) For the first day of the Billing cycleCycle, we add any unpaid Interest Charges on Purchases that accrued during the prior Billing Cycle. (This results in the monthly compounding of Interest Charges.) (C) For each day in the Billing Cycle (including the first day of the Billing Cycle), we add any new Purchases posted to your Account and subtract any payments or credits applied to Purchases. However, we do not subtract a second time any payments or credits that have already been subtracted in step (B) above. (D) We treat any negative daily balance as $0. (iii) To get the daily balance of Cash Advances each day: (i) we take the previous day’s balance of Cash Advances (if any); (ii) we add any new Cash Advances; and (iii) we subtract any new payments or credits applied to Cash Advances. For the first day of each Billing Cycle, we also add any unpaid Interest Charges on Cash Advances that accrued during the prior Billing Cycle. (This results in the monthly compounding of Interest Charges.) If a Cash Advance obtained in a Billing Cycle is not posted in that Billing Cycle, we add the Cash Advance to the daily balance on the first day of the next Billing Cycle instead of the day it was obtained. We treat any negative daily balance as $0.