Common use of Credit Purchases Clause in Contracts

Credit Purchases. To avoid incurring any additional Interest on the balance of Credit Purchases reflected on your Monthly Billing Statement, you must pay the "New Balance" in full within 25 days of your Statement closing date. The Interest for a Billing Cycle is computed by applying the Monthly Periodic Rate to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the Billing Cycle for Purchases by the number of days in the Cycle. Each daily balance is determined by adding new Credit Purchases posted to your account to the previous balance of Credit Purchases, and subtracting any payments received and credits posted to your account, but excluding any unpaid Interest.

Credit Purchases. To avoid incurring any additional Interest on the balance of Credit Purchases reflected on your Monthly Billing Statement, you must pay the "“New Balance" ” in full within 25 days of your Statement closing date. The Interest for a Billing Cycle is computed by applying the Monthly Periodic Rate to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the Billing Cycle for Purchases by the number of days in the Cycle. Each daily balance is determined by adding new Credit Purchases posted to your account to the previous balance of Credit Purchases, and subtracting any payments received and credits posted to your account, but excluding any unpaid Interest.