Common use of Credit Purchases Clause in Contracts

Credit Purchases. A Finance Charge will be imposed on Credit Purchases at a Monthly Periodic Rate of 0.825% (corresponding to an ANNUAL PERCENTAGE RATE of 9.90%) only if you elect not to pay the entire New Balance shown on your Monthly Billing Statement within twenty-five (25) days of the statement date. If you elect not to pay the entire New Balance shown on your previous monthly statement by the Payment Due Date, a Finance Charge will be imposed on the unpaid Daily Principal Balance of such Credit Purchases from the previous statement Closing Date and on New Credit Purchases from the date of posting to your Account during the current Billing Cycle. Finance Charges will then continue to accrue until the Closing Date of the Billing Cycle preceding the date on which the entire New Balance is paid in full by the Payment Due Date or until the date of payment if after the Payment Due Date. The Finance Charge for a Billing Cycle is computed by applying the Monthly Periodic Rate to the average daily balance (including new purchases) of Credit Purchases on your Account for that billing cycle, which is the sum of the Principal Balance for each day in the billing cycle of Credit Purchases divided by the number days in the billing cycle. Each daily principal balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of each day of the Billing Cycle any New Credit Purchases posted to your Account, and subtracting any payments as received and credits as posted to your Account, but excluding any unpaid Finance Charges and other fees.

Credit Purchases. A Finance Charge will be imposed on Credit Purchases at a Monthly Periodic Rate of 0.825% (corresponding to an ANNUAL PERCENTAGE RATE of 9.90%) only if you elect not to pay the entire New Balance shown on your Monthly Billing Statement within twenty-five (25) days of the statement date. If you elect not to pay the entire New Balance shown on your previous monthly statement by the Payment Due Date, a Finance Charge will be imposed on the unpaid Daily Principal Balance of such Credit Purchases from the previous statement Closing Date and on New Credit Purchases from the date of posting to your Account during the current Billing Cycle. Finance Charges will then continue to accrue until the Closing Date of the Billing Cycle preceding the date on which the entire New Balance is paid in full by the Payment Due Date or until the date of payment if after the Payment Due Date. The Finance Charge for a Billing Cycle is computed by applying the Monthly Periodic Rate to the average daily balance (including new purchases) of Credit Purchases on your Account for that billing cycle, which is the sum of the Principal Balance for each day in the billing cycle of Credit Purchases divided by the number days in the billing cycle. Each daily principal balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of each day of the Billing Cycle any New Credit Purchases posted to your Account, and subtracting any payments as received and credits as posted to your Account, but excluding any unpaid Finance Charges and other fees.

Credit Purchases. A Finance Charge will be imposed on Credit Purchases at a Monthly Periodic Rate of 0.825% (corresponding to an ANNUAL PERCENTAGE RATE of 9.90%) only if you elect not to pay the entire New Balance shown on your Monthly Billing Statement within twenty-five (25) days of the statement date. If you elect not to pay the entire New Balance shown on your previous monthly statement by the Payment Due Date, a Finance Charge will be imposed on the unpaid Daily Principal Balance of such Credit Purchases from the previous statement Closing Date and on New Credit Purchases from the date of posting to your Account during the current Billing Cycle. Finance Charges will then continue to accrue until the Closing Date of the Billing Cycle preceding the date on which the entire New Balance is paid in full by the Payment Due Date or until the date of payment if after the Payment Due Date. The Finance Charge for a Billing Cycle is computed by applying the Monthly Periodic Rate to the average daily balance (including new purchases) of Credit Purchases on your Account for that billing cycle, which is the sum of the Monthly Daily Principal Balance for each day in the billing cycle of Credit Purchases divided by the number days in the billing cycle. Each daily principal balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of each day of of the Billing Cycle any New Credit Purchases posted to your Account, and subtracting any payments as received and credits as posted to your Account, but excluding any unpaid Finance Charges and other fees.

Credit Purchases. A Finance Charge will be imposed on Credit Purchases at a Monthly Periodic Rate of 0.825% (corresponding to an ANNUAL PERCENTAGE RATE of 9.90%) only if you elect not to pay the entire New Balance shown on your Monthly Billing Statement within twenty-five for the previous Billing Cycle by the Payment Due Date (25) days the time between the issuance of your Monthly Billing Statement and the statement datecorresponding Payment Due Date is the “Grace Period”). If you elect not to pay the entire New Balance shown on your previous monthly statement by during the Payment Due DateGrace Period, a Finance Charge will be imposed on the unpaid Daily Principal Balance of such Credit Purchases from the previous statement Closing Date and on New Credit Purchases from the date of posting to your Account during the current Billing Cycle. Finance Charges will then continue to accrue until the Closing Date of the Billing Cycle preceding the date on which the entire New Balance is paid in full by the Payment Due Date or until the date of payment if after the Payment Due Date. The Finance Charge for a Billing Cycle is computed by applying the Monthly daily Periodic Rate to the average daily balance (including new purchases) Daily Principal Balance of Credit Purchases on your Account for that billing cycle, which is the sum of the Principal Balance for each day in the billing cycle of Credit Purchases divided by the number days in the billing cyclePurchases. Each daily principal balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of each day of the Billing Cycle any New Credit Purchases posted to your Account, and subtracting any payments as received and credits as posted to your Account, but excluding any unpaid Finance Charges and other fees. 6.