Common use of CIRCUMSTANCES UNDER WHICH A FINANCE CHARGE WILL BE IMPOSED Clause in Contracts

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.