Common use of COST OF CREDIT Clause in Contracts

COST OF CREDIT. You will pay an INTEREST CHARGE for all advances made against your account. Cash advances and balance transfers will incur an INTEREST CHARGE from the date they are posted to your account. New purchases will not incur an INTEREST CHARGE on the date they are posted to your account and will have a 25-day grace period if you have paid the account in full by the Payment Due Date shown on your previous monthly statement or if there was no previous balance. Late fees, Return Check Service Charges, and third-party ATM surcharges will be added to the balance of your account and treated as new purchases. Except for cash advances and balance transfers, no additional INTEREST CHARGE will be incurred whenever you pay the account in full prior to the Payment Due Date.