HOW WE APPLY PAYMENTS. We will apply payments on the Account first towards your Minimum Payment in the following order:
1) first to any interest that appears on your statement;
2) second to any fees that appear on your statement;
3) third to any Transactions that appear on your statement, including any amount that exceeds your Credit Limit or any past due amounts;
4) fourth to any fees and other Transactions that do not yet appear on your statement In any of the above categories 1 to 4, the amounts with the lowest interest rate(s) are paid first before those with higher interest rate(s). If you pay more than your Minimum Payment, once we have applied the payment to the Minimum Payment, we will then apply any excess amount to the remaining Balance on your statement, as follows:
i. All items that have the same interest rate(s) will be placed into the same category. For example, if your Balance is made up of Purchases and promotional Balance Transfers, then all items at your regular interest rate for Purchases are placed in one category and all promotional Balance Transfers are placed in a different category because of the different interest rates that applies to each of them.
ii. We will then apply the excess payment to the different interest rate(s) categories in section (i) above, in the percentage (%) the amount in each category represents to the remaining Balance. For example, if the amount of your Purchase category represents 70% of your remaining Balance and the amount of your promotional Balance Transfer category represents 30% of your remaining Balance, we apply 70% of your excess payment towards the amount of the Purchase category and 30% of your excess payment towards the amount of your promotional Balance Transfer category. If you pay more than your Balance on your statement, we apply the excess amount of your payment to Transactions that have not yet appeared on your statement, in the same way as we have described above for payments to the remaining Balance. We can apply late or partial payments that we receive without losing any rights we have under the Agreement or by law, to collect all amounts that are owed to us on the Account.
HOW WE APPLY PAYMENTS. All payments will be applied first to the Minimum Payment Due. Any payments made in excess of the Minimum Payment Due will be applied first to the balance with the highest interest rate then successively to each lower interest rate until payment is exhausted. For expiring deferred interest balances, the entire excess of a minimum payment will be applied during the last two Billing Cycles immediately preceding the expiration of the deferred interest period.
HOW WE APPLY PAYMENTS. Your Account may have balances with different interest rates. For example, purchases may have a lower interest rate than Balance Transfers. If your Account has balances with different interest rates here is how we generally apply payments in a Billing Cycle. We apply payments at our discretion. This may result in balances at lower APRs being paid before other balances. This may also result in higher interest charges.
HOW WE APPLY PAYMENTS. When you make a payment to your Card Account, we will apply it in a specific order, as explained in this section. For payments you make towards paying down the New Balance, first we will take the entire balance and group the Charges together into different categories (based on the interest rate that applies to them) - all items with the same interest rate (such as Purchases) will be put together in the same group. Then, starting with the category that has the highest interest rate and then to the other categories of Charges in descending order based on their interest rate (meaning that payments are applied to Charges with the highest rate first and Charges with the lowest rate last), we will distribute the payments to the different types of Charges on your Card Account in the following order:
(a) first to interest charges;
(b) then to creditor insurance;
(c) then to any fees that are payable (like annual fees, over limit fees or Cash Advance fees);
(d) then to Balance Transfers;
(e) then to other Cash Advances (including Cheques);
(f) then to Purchases; and
(g) then to disputed items. For each category of Charges with the same interest rate, if there is more than one transaction or Charge for any of the items above, then we will split the payment proportionally between the items. If you have paid more than your New Balance, we will apply the extra payment to Charges that have not yet appeared on your Statement, but which have been posted to your Card Account, in the following order (unless we tell you that we will apply the extra payment in a different way):
(a) first to Purchases;
(b) then to Balance Transfers;
(c) then to other Cash Advances (including Cheques);
(d) then to disputed items; and
(e) then to Cash Advance Fees and any other Fees. If you have a credit on your Card Account, we’ll apply the credit towards future Charges posted to the Card Account in the order that they are posted, until the credit is used up.
HOW WE APPLY PAYMENTS. When we receive a payment from you, we use that payment to pay off your Account balance in the following order: minimum payment due, then
(1) fees; (2) insurance; (3) interest; (4) amounts subject to interest; (5) amounts subject to deferred interest; and (6) non- interest bearing amounts. Amounts owing subject to a promotion will be paid in order of the highest promotional interest rate to the lowest promotional interest rate, except where an amount subject to a deferred interest promotion is expiring within the next two billing cycles, in which case such amount will take precedence.
HOW WE APPLY PAYMENTS. Subject to any terms of the Security that govern the application of payments following enforcement proceedings or otherwise received under the Security, payments will be applied in the following order:
a) to any Cash Reserve advances (if applicable) (including all interest and fees relating to it); then
b) to the Reverse Mortgage Facility, unless you tell us otherwise. Within each of the above we will then apply payments in the following order:
a) to any default interest accrued ordebited to your account;
b) to default fees and charges payable or debited to your account;
HOW WE APPLY PAYMENTS. All payments received towards the Total Minimum Payment will be applied in the following order:
(i) first, to any interest charges that appear on the monthly statement;
(ii) second, to any fees that appear on the monthly statement;
(iii) third, to any monthly installment due under any Installment Plan that appears on the monthly statement;
(iv) fourth, to any Transactions that appear on the monthly statement, including any amount that exceeds the Credit Limit or any past due amounts; and
(v) fifth, to any fees and other Transactions that do not yet appear on the monthly statement but are posted to the Business Account.
HOW WE APPLY PAYMENTS. We apply payments on your Account in the following order: (1) minimum payment due; (2) amounts that are or will become interest bearing at your AIR for Regular Credit Purchases if unpaid by the payment due date; (3) amounts subject to deferred payment promotions (in the order of earliest to latest promotional expiry date); (4) amounts subject to equal monthly payment promotions; and (5) Regular Credit Purchases that have not yet appeared on a monthly statement provided to you.
HOW WE APPLY PAYMENTS. Payments will be applied first to late charges, then to interest charges due and any other charges that might apply, then to the remaining principal (first to Cash Advances and second to purchases).
HOW WE APPLY PAYMENTS. We may credit payments that you make in whatever order we see fit, subject to applicable law.
