Common use of HOW TO DETERMINE THE FINANCE CHARGE Clause in Contracts

HOW TO DETERMINE THE FINANCE CHARGE. The Finance Charge is determined by multiplying Your unpaid balance at the close of each day in the billing cycle being accounted for by the applicable Daily Periodic Rate. The unpaid balance is the balance each day after payments, credits, and unpaid Finance Charges to that balance have been subtracted and any new advances, insurance premiums or other costs and charges have been added to Your unpaid balance. These daily Finance Charges are then added together and the sum is the amount of the Finance Charge owed.

HOW TO DETERMINE THE FINANCE CHARGE. The Finance Charge is determined by multiplying Your separate unpaid principal balances for purchases, balance transfers and cash advances at the close of each day in of the billing cycle being accounted for by the applicable Daily Periodic Rate. The unpaid balance is the balance each day Rate after payments, credits, credits and unpaid Finance Charges, Late Charges to that balance and Annual Cardholder Fees have been subtracted and any new advances, insurance premiums or other costs and charges have been added to Your unpaid balance. These daily Finance Charges are then added together and the sum is the amount of the Finance Charge owedowed for that billing cycle.