Common use of Credit Limit and Available Credit Clause in Contracts

Credit Limit and Available Credit. The maximum permitted outstanding balance for your Account (including principal, accrued Interest and fees, whether billed or unbilled) is your credit limit (“Credit Limit”). Your credit available (“Available Credit”) is the Credit Limit less your outstanding balance and any amounts we at our sole discretion may add to keep your outstanding balance below your Credit Limit, such as Interest Charges and Fees incurred but not yet billed. The initial Credit Limit for your Account will be equal to the amount of the Deposit that you make with us, which must be at least $200 (see “Security Interest” above). However, if you choose to deposit more than $200, your initial deposit and corresponding Credit Limit may not exceed $2,000 and must be at least the amount specified in the solicitation or application. Your initially available credit will be equal to your initial Credit Limit, less the Annual Fee in the amount specified in the accompanying Summary of Terms, imposed after your Account is opened. For example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $49, your initially available credit would be $151. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $49.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $39, your initially available credit would be $161. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $39.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $29, your initially available credit would be $171. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $29.) Your Credit Limit may be increased only with our approval. For cardholders under the age of 21 with a co-signer, the co-signer must sign a written statement approving the increase and taking responsibility for repayment of the increase. If we approve your request to do so, your Credit Limit and Available Credit may be increased by your making an additional deposit with good funds to your Account, by mailing them to us at the address we specify at the time of approval. We may choose to increase your Credit Limit without requiring you to add to the Deposit Account. Any increases in your Credit Limit are subject to credit approval. The maximum Credit Limit you can obtain over time is $5,000. Payments you make on your Account will not increase your Available Credit until we are assured that the payment has not been dishonored. This payment hold may take up to ten (10) days (see “Credit Availability/ Payment Hold” below at Section 5). You agree not to make any Purchase or obtain any Cash Advance that would cause the unpaid principal balance of your Account to exceed your Available Credit. We are not required to allow you to make Purchases or Cash Advances that, along with billed and unbilled Finance Charges and Fees, would cause your outstanding Account balance to exceed your Credit Limit, but, if we do, you will be liable for any such amount. If you exceed your Credit Limit, we may, at our option, (i) charge you for all Purchases and Cash Advances without giving up any of our rights (ii) require that you immediately pay to us any amount in excess of your Credit Limit, or (iii) suspend or terminate your use of the Card or Account. If you request that your Credit Limit be increased either permanently or temporarily, we have no obligation to do so; however, we may make such an increase if we choose without giving up or waiving any of our rights, and without having to honor other uses which would cause your Credit Limit to be exceeded. We may permanently increase or decrease your Credit Limit as we deem appropriate with notice if required by applicable law. Changes in your Credit Limit do not affect your obligation to pay all amounts that you owe under this Agreement.

Credit Limit and Available Credit. The maximum permitted outstanding balance for your Account (including principal, accrued Interest and fees, whether billed or unbilled) is your credit limit (“Credit Limit”). Your credit available (“Available Credit”) is the Credit Limit less your outstanding balance and any amounts we at our sole discretion may add to keep your outstanding balance below your Credit Limit, such as Interest Charges and Fees incurred but not yet billed. The initial Credit Limit for your Account will be equal to the amount of the Deposit that you make with us, which must be at least $200 (see “Security Interest” above). However, if you choose to deposit more than $200, your initial deposit and corresponding Credit Limit may not exceed $2,000 and must be at least the amount specified in the solicitation or application. Your initially available credit will be equal to your initial Credit Limit, less the Annual Fee in the amount specified in the accompanying Summary of Terms, imposed after your Account is opened. For example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $49, your initially available credit would be $151. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $49.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $39, your initially available credit would be $161. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $39.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $29, your initially available credit would be $171. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $29.) Your Credit Limit may be increased only with our approval. For cardholders under the age of 21 with a co-signer, the co-signer must sign a written statement approving the increase and taking responsibility for repayment of the increase. If we approve your request to do so, your Credit Limit and Available Credit may be increased by your making an additional deposit with the good funds to your Account, by mailing them to us at the address we specify at the time of approval. We may choose to increase your Credit Limit without requiring you to add to the Deposit Account. Any increases in your Credit Limit are subject to credit approval. The maximum Credit Limit you can obtain over time is $5,000. Payments you make on your Account will not increase your Available Credit until we are assured that the payment has not been dishonored. This payment hold may take up to ten (10) days (see “Credit Availability/ Availability/Payment Hold” below at Section 5). You agree not to make any Purchase or obtain any Cash Advance that would cause the unpaid principal balance of your Account to exceed your Available Credit. We are not required to allow you to make Purchases or Cash Advances that, along with billed and unbilled Finance Charges and Fees, would cause your outstanding Account balance to exceed your Credit Limit, but, if we do, you will be liable for any such amount. If you exceed your Credit Limit, we may, at our option, (i) charge you for all Purchases and Cash Advances without giving up any of our rights (ii) require that you immediately pay to us any amount in excess of your Credit Limit, or (iii) suspend or terminate your use of the Card or Account. If you request that your Credit Limit be increased either permanently or temporarily, we have no obligation to do so; however, we may make such an increase if we choose without giving up or waiving any of our rights, and without having to honor other uses which would cause your Credit Limit to be exceeded. We may permanently increase or decrease your Credit Limit as we deem appropriate with notice if required by applicable law. Changes in your Credit Limit do not affect your obligation to pay all amounts that you owe under this Agreement.

Credit Limit and Available Credit. The maximum permitted outstanding balance for your Account (including principal, accrued Interest and fees, whether billed or unbilled) is your credit limit (“Credit Limit”). Your credit available (“Available Credit”) is the Credit Limit less your outstanding balance and any amounts we at our sole discretion may add to keep your outstanding balance below your Credit Limit, such as Interest Charges and Fees incurred but not yet billed. The initial Credit Limit for your Account will be equal to the amount of the Deposit that you make with us, which must be at least $200 100 (see “Security Interest” above). However, if you choose to deposit more than $200100, your initial deposit and corresponding Credit Limit may not exceed $2,000 and must be at least the amount specified in the solicitation or application. Your initially available credit will be equal to your initial Credit Limit, less the Annual Fee in the amount specified in the accompanying Summary of Terms, imposed after your Account is opened. For example, if your initial Credit Limit is $200 100 and if your Annual Fee specified in the accompanying Summary of Terms is $4925, your initially available credit would be $15175. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $49.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $39, your initially available credit would be $161. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $39.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $29, your initially available credit would be $171. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $2935.) Your Credit Limit may be increased only with our approval. For cardholders under the age of 21 with a co-signer, the co-signer must sign a written statement approving the increase and taking responsibility for repayment of the increase. If we approve your request to do so, your Credit Limit and Available Credit may be increased by your making an additional deposit with the good funds to your Account, by mailing them to us at the address we specify at the time of approval. We may choose to increase your Credit Limit without requiring you to add to the Deposit Account. Any increases in your Credit Limit are subject to credit approval. The maximum Credit Limit you can obtain over time is $5,000. Payments you make on your Account will not increase your Available Credit until we are assured that the payment has not been dishonored. This payment hold may take up to ten (10) days (see “Credit Availability/ Payment Hold” below at Section 5). You agree not to make any Purchase or obtain any Cash Advance that would cause the unpaid principal balance of your Account to exceed your Available Credit. We are not required to allow you to make Purchases or Cash Advances that, along with billed and unbilled Finance Charges and Fees, would cause your outstanding Account balance to exceed your Credit Limit, but, if we do, you will be liable for any such amount. If you exceed your Credit Limit, we may, at our option, (i) charge you for all Purchases and Cash Advances without giving up any of our rights (ii) require that you immediately pay to us any amount in excess of your Credit Limit, or (iii) suspend or terminate your use of the Card or Account. If you request that your Credit Limit be increased either permanently or temporarily, we have no obligation to do so; however, we may make such an increase if we choose without giving up or waiving any of our rights, and without having to honor other uses which would cause your Credit Limit to be exceeded. We may permanently increase or decrease your Credit Limit as we deem appropriate with notice if required by applicable law. Changes in your Credit Limit do not affect your obligation to pay all amounts that you owe under this Agreement.

Credit Limit and Available Credit. The maximum permitted outstanding balance for your Account (including principal, accrued Interest and fees, whether billed or unbilled) is your credit limit (“Credit Limit”). Your credit available (“Available Credit”) is the Credit Limit less your outstanding balance and any amounts we at our sole discretion may add to keep your outstanding balance below your Credit Limit, such as Interest Charges and Fees incurred but not yet billed. The initial Credit Limit for your Account will be equal to the amount of the Deposit that you make with us, which must be at least $200 (see “Security Interest” above). However, if you choose to deposit more than $200, your initial deposit and corresponding Credit Limit may not exceed $2,000 and must be at least the amount specified in the solicitation or application. Your initially initial available credit will be equal to your initial Credit Limit, less the Annual Fee in the amount specified in the accompanying Summary of Terms, imposed after your Account is opened. For example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $49, your initially initial available credit would be $151. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $49.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $39, your initially initial available credit would be $161. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $39.) Or, for example, if your initial Credit Limit is $200 and if your Annual Fee specified in the accompanying Summary of Terms is $29, your initially initial available credit would be $171. (The renewal Annual Fee, when imposed annually thereafter, would also reduce your then available credit by $29.) Your Credit Limit may be increased only with our approval. For cardholders under the age of 21 with a co-signer, the co-signer must sign a written statement approving the increase and taking responsibility for repayment of the increase. If we approve your request to do so, your Credit Limit and Available Credit may be increased by your making an additional deposit with the good funds to your Account, by mailing them to us at the address we specify at the time of approval. We may choose to increase your Credit Limit without requiring you to add to the Deposit Account. Any increases in your Credit Limit are subject to credit approval. The maximum Credit Limit you can obtain over time is $5,000. Payments you make on your Account will not increase your Available Credit until we are assured that the payment has not been dishonored. This payment hold may take up to ten (10) days (see “Credit Availability/ Payment Hold” below at Section 5). You agree not to make any Purchase or obtain any Cash Advance that would cause the unpaid principal balance of your Account to exceed your Available Credit. We are not required to allow you to make Purchases or Cash Advances that, along with billed and unbilled Finance Charges and Fees, would cause your outstanding Account balance to exceed your Credit Limit, but, if we do, you will be liable for any such amount. If you exceed your Credit Limit, we may, at our option, (i) charge you for all Purchases and Cash Advances without giving up any of our rights (ii) require that you immediately pay to us any amount in excess of your Credit Limit, or (iii) suspend or terminate your use of the Card or Account. If you request that your Credit Limit be increased either permanently or temporarily, we have no obligation to do so; however, we may make such an increase if we choose without giving up or waiving any of our rights, and without having to honor other uses which would cause your Credit Limit to be exceeded. We may permanently increase or decrease your Credit Limit as we deem appropriate with notice if required by applicable law. Changes in your Credit Limit do not affect your obligation to pay all amounts that you owe under this Agreement.