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.
Appears in 4 contracts
Samples: Foundation Cardholder Agreement, Business Cardholder Agreement, Consumer Cardholder Agreement
