CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED. The total outstanding balance of purchases and cash advances in the Account on the closing date of a billing cycle, including any FINANCE CHARGE will be shown on the Periodic Statement for that billing cycle as the “New Balance.”
a. Cash Advances. A FINANCE CHARGE will be imposed on cash advances from the date made or from the first day of the billing cycle in which the cash advance is posted to your account, whichever is later, and will continue to accrue until the date of payment.
CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED. The total outstanding balance of purchases and cash advances in the Account on the closing date of the billing cycle, including any Finance Charge will be shown on the Periodic Statement for that billing cycle as the “New Balance”.
CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED. The total outstanding balance of purchases and cash advances in the Account on the closing date of a billing cycle, including any FINANCE CHARGE will be shown on the Periodic Statement for that billing cycle as the “New Balance.”
CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED. The total outstanding balance of purchases, cash advances and fees in the Account on the closing date of a billing cycle, including any FINANCE CHARGE will be shown on the Periodic Statement for that billing cycle as the �New Balance.�
a. Cash Advances. A FINANCE CHARGE will be imposed on cash advances from the date each cash advance is made to the date paid. There is no time period within which to pay to avoid a periodic FINANCE CHARGE on cash advances, including ATM withdrawals and convenience check cash advances. b. Purchases. A FINANCE CHARGE will be imposed on VISA Credit Card purchases included in the new balance when the entire new balance is not paid in full on or before the 15th of the month following the statement. This �grace period� allows you to avoid a FINANCE CHARGE on purchases for a billing cycle. If you do not pay within the grace period, your FINANCE CHARGE will be applied on the 15th of the month following the statement. 9. METHOD USED TO DETERMINE THE BALANCE ON WHICH THE FINANCE CHARGE MAY BE COMPUTED AND AMOUNT OF FINANCE CHARGE. The Credit Union figures the Periodic FINANCE CHARGE on your Account by applying the Periodic Rate to the �Average Daily Balance� of purchases and previous unpaid cash advances for your Account separately. To get the �Average Daily Balance� we take the beginning purchase and cash advance balances of your Account each day, add any new purchases and subtract any payments or credits, unpaid FINANCE CHARGES and unpaid late charges and fees. This gives us the daily balance. Then we add all the daily balances for the billing cycle and divide by the number of days in the billing cycle. This gives us the Average Daily balance for both purchases and cash advances. The FINANCE CHARGE imposed during the billing cycle will be determined by multiplying the Average Daily Balance by the Periodic Rate by the number of days in the billing cycle. Cash advances made in the billing period will not be assessed the daily FINANCE CHARGE until after the 15th of the month. Also, no FINANCE CHARGE is imposed on purchases if payments and credits are made sufficient to pay the �New Balance� shown on your periodic statement on or before the 15th day of the month following the statement. The �Total FINANCE CHARGE� shown on your monthly statement consists of the periodic FINANCE CHARGE on purchases and the periodic FINANCE CHARGE on cash advances. 10. PERIODIC RATE AND CORRESPONDING ANNUAL PERCENTAGE RATE. Variable Rate. The Periodic Rate...
