Common use of HOW WE APPLY PAYMENTS Clause in Contracts

HOW WE APPLY PAYMENTS. We will apply payments on the Account first towards your Minimum Payment in the following order: • first, to any interest that appears on your statement; • second, to any fees that appear on your statement; • third, to any Transactions that appear on your statement, including any amount that exceeds your Credit Limit or any past due amounts; • 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:

HOW WE APPLY PAYMENTS. ‌ We will apply payments on the Account first towards your Minimum Payment in the following order: • first, to any interest that appears on your statement; • second, to any fees that appear on your statement; • third, to any Transactions that appear on your statement, including any amount that exceeds your Credit Limit or any past due amounts; • 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: