Common use of Finance Charge Clause in Contracts

Finance Charge. New purchases posted to your account during a billing cycle will not incur a finance charge for that billing cycle if you had a zero or credit balance at the beginning of that billing cycle or if you paid the entire New Balance on the previous cycle’s billing statement by the Payment Due Date of that statement; otherwise a finance charge will accrue from the date a purchase is posted to your account. To avoid an additional finance charge on the balance of purchases, you must pay the entire New Balance on the billing statement by the Payment Due Date of that statement. A finance charge begins to accrue on cash advances from the date you get the cash advance or from the first day of the billing cycle in which the cash advance is posted to your account, whichever is later. The FINANCE CHARGE (the periodic rate is * per month, ANNUAL PERCENTAGE RATE of *) is calculated separately for purchases and cash advances. For purchases, the finance charge is computed by applying the monthly periodic rate to the average daily balance of purchases. To get the average daily balance of purchases, we take the beginning outstanding balance of purchases each day, add any new purchases and subtract any payments and/or credits that we apply to the purchase balance. This gives us the daily balance of purchases. Then, we add all the daily balances of the purchases for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of purchases. For cash advances, the finance charge is computed by applying the monthly periodic rate to the average daily balance of cash advances. To get the average daily balance of cash advances, we take the beginning outstanding balance of cash advances each day, add any new cash advance balance. This gives us the daily balance of cash advances. Then, we add all the daily balances of cash advances for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of cash advances. Default APR: If at any time your account is 60 days or more past due, we may increase your rate to 17.99%. The Default APR increase will cease to apply if we receive 6 consecutive required minimum payments from you on or before the payment due date, beginning with the first payment due following the effective date of the increase.

Finance Charge. New The FINANCE CHARGE (interest) is calculated at a monthly periodic rate deter- mined by dividing the applicable ANNUAL PERCENTAGE RATE by twelve. The ANNUAL PERCENTAGE RATE is subject to change quarterly. You have a 25 day grace period on your purchase balance and for new purchases posted to your account during a billing cycle will not incur a finance charge for that billing cycle if you had a zero or credit balance at pay the beginning of that billing cycle or if you paid the entire Total New Balance on the previous cycle’s billing statement for purchases by the Payment Due Date of that on your last statement; otherwise . You also have a finance charge will accrue from the date 25 day grace period for new purchases if you did not have a purchase is posted to balance on your accountlast statement. To avoid an additional finance charge The grace period starts on the balance of purchases, statement clos- ing date. If you must do not pay the entire Total New Balance for purchases by the end of the grace period, A FINANCE CHARGE will be imposed on the billing statement by the Payment Due Date of that statement. A finance charge begins to accrue on cash advances from the date you get the cash advance or unpaid purchase balance from the first day of the next billing cycle in which and on new purchases from the cash advance is date they are posted to your account, whichever is later. The A FINANCE CHARGE (is imposed on cash advances, convenience checks, and balance transfers from the periodic rate is * per month, ANNUAL PERCENTAGE RATE of *) is date they are posted to your account. Separate average daily balances are calculated separately for purchases and cash advances. For purchases, The FINANCE CHARGE is calculated by multiply- ing the finance charge is computed average daily balances by applying the monthly periodic rate to the average daily balance of purchasesrate. To get the each average daily balance of purchasesbalance, we take the beginning outstanding balance of purchases each day, add any new purchases and subtract any payments and/or credits that we apply to the purchase balance. This gives us the daily balance of purchases. Then, we add all the daily balances of the for purchases and cash advances for the billing cycle together are added and divide the total totals are divided by the number of days in the billing cycle. This gives us the average daily balance of purchases. For cash advances, the finance charge is computed by applying the monthly periodic rate to the average daily balance of cash advances. To get the average daily balance of for cash advances, we take the beginning outstanding balance of new cash advances each are added to the day, add any new cash advance balance's beginning balance and payments and credits are subtracted. This gives us To get the daily balance of cash advances. Thenfor purchases, we add all new purchases are added to the daily balances of cash advances day's beginning balance and payments and credits are subtracted; how- ever, new purchases are not added if you paid the Total New Balance for the billing cycle together and divide the total purchases on your last statement by the number of days Payment Due Date or if you did not have a purchase balance on your last statement. Unpaid fees and finance charges from the prior month are included in the billing cycle. This gives us calculation of the average daily balance of cash advancesbalance. Default APR: If at any time A FINANCE CHARGE will continue to accrue on your account until what you owe under this Agreement is 60 days or more past due, we may increase your rate to 17.99%. The Default APR increase will cease to apply if we receive 6 consecutive required minimum payments from you on or before the payment due date, beginning with the first payment due following the effective date of the increasepaid in full.

Finance Charge. New The FINANCE CHARGE (interest) is calculated at a monthly periodic rate deter- mined by dividing the applicable ANNUAL PERCENTAGE RATE by twelve. The ANNUAL PERCENTAGE RATE is subject to change quarterly. You have a 25-day grace period on your purchase balance and for new purchases posted to your account during a billing cycle will not incur a finance charge for that billing cycle if you had a zero or credit balance at pay the beginning of that billing cycle or if you paid the entire Total New Balance on the previous cycle’s billing statement for purchases by the Payment Due Date of that on your last statement; otherwise . You also have a finance charge will accrue from the date 25-day grace period for new purchases if you did not have a purchase is posted to balance on your accountlast statement. To avoid an additional finance charge The grace period starts on the balance of purchases, statement closing date. If you must do not pay the entire Total New Balance for purchases by the end of the grace period, a FINANCE CHARGE will be imposed on the billing statement by the Payment Due Date of that statement. A finance charge begins to accrue on cash advances from the date you get the cash advance or unpaid purchase balance from the first day of the next billing cycle in which and on new purchases from the cash advance is date they are posted to your account, whichever is later. The A FINANCE CHARGE (is imposed on cash advances, convenience checks, and balance transfers from the periodic rate is * per month, ANNUAL PERCENTAGE RATE of *) is date they are posted to your account. Separate average daily balances are calculated separately for purchases and cash advances. For purchases, The FINANCE CHARGE is calculated by multiplying the finance charge is computed average daily balances by applying the monthly periodic rate to the average daily balance of purchasesrate. To get the each average daily balance of purchasesbalance, we take the beginning outstanding balance of purchases each day, add any new purchases and subtract any payments and/or credits that we apply to the purchase balance. This gives us the daily balance of purchases. Then, we add all the daily balances of the for purchases and cash advances for the billing cycle together are added and divide the total to- tals are divided by the number of days in the billing cycle. This gives us the average daily balance of purchases. For cash advances, the finance charge is computed by applying the monthly periodic rate to the average daily balance of cash advances. To get the average daily balance of for cash advances, we take the beginning outstanding balance of new cash advances each are added to the day, add any new cash advance balance's beginning balance and payments and credits are subtracted. This gives us To get the daily balance of cash advances. Thenfor purchases, we add all new purchases are added to the daily balances of cash advances day's beginning balance and payments and credits are subtracted; how- ever, new purchases are not added if you paid the Total New Balance for the billing cycle together and divide the total purchases on your last statement by the number of days Payment Due Date or if you did not have a purchase balance on your last statement. Unpaid fees and finance charges from the prior month are included in the billing cycle. This gives us calculation of the average daily balance of cash advancesbalance. Default APR: If at any time A FINANCE CHARGE will continue to accrue on your account until what you owe under this Agreement is 60 days or more past due, we may increase your rate to 17.99%paid in full. The Default APR increase will cease to apply if we receive 6 consecutive required minimum payments from you on or before OTHER CHARGES (See the payment due date, beginning with the first payment due following the effective date of the increaseVisa Disclosure for current fees.)

Finance Charge. You agree to pay the Finance Charge during any Card billing cycle in which you (a) received or had an outstanding cash advance (b) failed to pay in full the balance of Charges shown on the previous statement during the grace period or (c) received or had an outstanding balance transfer. You can avoid a Finance Charge on purchases by paying the full amount of the New Balance of Purchases each month within your billing cycle. Otherwise, the New Balance of Purchases and subsequent purchases from the date they are posted to your account during will be subject to a billing cycle will not incur a finance charge for that billing cycle if you had a zero or credit Finance Charge. Cash advances and balance at the beginning of that billing cycle or if you paid the entire New Balance on the previous cycle’s billing statement by the Payment Due Date of that statement; otherwise a finance charge will accrue transfers are always subject to Finance Charges from the date a purchase is they are posted to the account until it is paid in full. The total Finance Charge shown on your account. To avoid an additional finance charge on billing statement is the balance sum of the Finance Charges that are due for purchases, you must pay the entire New Balance on the billing statement by the Payment Due Date of that statement. A finance charge begins to accrue on cash advances from the date you get the cash advance or from the first day of the billing cycle in which the cash advance is posted to your account, whichever is later. The FINANCE CHARGE (the periodic rate is * per month, ANNUAL PERCENTAGE RATE of *) is calculated separately for purchases and cash advances, and balance transfers. For purchases, We figure the finance charge is computed Finance Charge by applying the monthly periodic rate to the “average daily balance balance” of purchasesyour account including new transactions. To get the “average daily balance of purchases, balance” we take the beginning outstanding balance of purchases your account each day, add any new purchases purchases, cash advances, and balance transfers, and subtract any payments and/or payments, credits that we apply to the purchase balanceapplied, or late payment fees due. This gives us the daily balance of purchasesbalance. Then, we add up all the daily balances of the purchases for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the “average daily balance of purchases. For cash advances, the finance charge is computed by applying the monthly periodic rate to the average daily balance of cash advances. To get the average daily balance of cash advances, we take the beginning outstanding balance of cash advances each day, add any new cash advance balance. This gives us the daily balance of cash advances. Then, we add all the daily balances of cash advances for the billing cycle together and divide the total by the number of days in the billing cycle. This gives us the average daily balance of cash advances. Default APR: If at any time your account is 60 days or more past due, we may increase your rate to 17.99%. The Default APR increase will cease to apply if we receive 6 consecutive required minimum payments from you on or before the payment due date, beginning with the first payment due following the effective date of the increase”.