Common use of How We Calculate Interest Clause in Contracts

How We Calculate Interest. You will avoid paying interest charges on Purchases listed on your Account statement provided you pay in full the total balance indicated, at the latest, on the payment due date provided on your Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the amount you owe each day (for example, the amount in Purchases or Cash Advances) and divide that total by the number of days in your statement period (e.g., 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques are calculated on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrier. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrier; • Any promotional interest rates that we may provide to you; or • Any amendment we make to those rates. If we amend the interest rates we charge, we will provide you with a minimum of 30 days written notice of the amended rates. The amount of interest we charge you on each Account statement sent every month is calculated as follows: • We add the amount you owe each day and divide that total by the number of days in the Account statement period. This is your average daily balance; • We multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (or, 366 on a leap year). We then multiply this value by the total number of days in the statement period to determine the interest we charge you. When more than one interest rate applies to the Account, we calculate the interest charge based on the average daily balance for each rate. Your Account statement shows your annual interest rates, including any applicable promotional rates and the interest charges for each rate balance.

How We Calculate Interest. You will avoid paying If interest charges on Purchases listed on your Account statement provided you pay in full applies, we calculate interest as follows: • we add together the total balance indicated, at the latest, on the payment due date provided on your Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the interest-bearing amount you owe each day in each Transaction category (for example, the amount in of Purchases or Cash Advances) is one “Transaction category” and divide that total by the number amount of days in your statement period (e.g., 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques are calculated on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrier. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrieris a separate “Transaction category”) to get total interest-bearing amount owing in each Transaction category; • Any promotional interest rates that we may provide to you; or • Any amendment we make to those rates. If we amend divide the interest rates we charge, we will provide you with a minimum of 30 days written notice of the amended rates. The total interest-bearing amount of interest we charge you on owing in each Account statement sent every month is calculated as follows: • We add the amount you owe each day and divide that total Transaction category by the number of days in the Account statement period. This amount is your average daily balancebalance for the interest-bearing amount you owe in each Transaction category; • We we then multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (orthat applies, 366 on a leap year). We then and multiply this value that amount by the total number of days in the statement period period. If interest is charged on a Transaction, it is charged starting from the original Transaction date. The total is the amount of interest posted to determine your Visa Account at the end of your statement period. Your statement shows the interest we charge youcharges for each Transaction category. When more than one If a different daily interest rate applies to the Accounta Transaction (for example, a promotional interest rate on a Balance Transfer), we calculate use that different daily interest rate in our calculation. Here’s an Example of How We Charge Interest on Purchases If your statement period is April 1 – April 30, the end of your statement period will be April 30 and the payment due date will be May 21. • If you pay your entire Visa Account Balance by May 21, we will not charge you any interest charge based on any of the Purchases you made in April. • If you do not pay your entire Visa Account Balance by May 21, on May 22 we will start charging you interest on the Purchases you made in April. • The interest on your April Purchases will be charged starting on the Transaction date of each Purchase. Interest will be calculated on the average daily balance for each rateat the daily interest rate (which varies depending on your card type). Your • We will continue to charge interest every day on your April Purchases until your entire Visa Account statement shows Balance has been paid in full. • The 21-day grace period from May 1 – May 21 in this example applies only to new Purchases in April. If you have any Balances outstanding from Transactions from previous statements, we will continue to charge interest on those Balances every day (including May 1 – May 21) until you pay your annual entire Visa Account Balance in full. We will not charge you interest rates, including any applicable promotional rates and the interest charges for each rate balanceon unpaid interest.

How We Calculate Interest. You will avoid paying If interest charges on Purchases listed on your Account statement provided you pay in full applies, we calculate interest as follows: • we add together the total balance indicated, at the latest, on the payment due date provided on your Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the interest-bearing amount you owe each day in each Transaction category (for example, the amount in of Purchases or Cash Advances) is one “Transaction category” and divide that total by the number amount of days in your statement period (e.g., 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques are calculated on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrier. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrieris a separate “Transaction category”) to get total interest-bearing amount owing in each Transaction category; • Any promotional interest rates that we may provide to you; or • Any amendment we make to those rates. If we amend divide the interest rates we charge, we will provide you with a minimum of 30 days written notice of the amended rates. The total interest-bearing amount of interest we charge you on owing in each Account statement sent every month is calculated as follows: • We add the amount you owe each day and divide that total Transaction category by the number of days in the Account statement period. This amount is your average daily balancebalance for the interest-bearing amount you owe in each Transaction category; • We we then multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (orthat applies, 366 on a leap year). We then and multiply this value that amount by the total number of days in the statement period period. If interest is charged on a Transaction, it is charged starting from the original Transaction date. The total is the amount of interest posted to determine your Visa Account at the end of your statement period. Your statement shows the interest we charge youcharges for each Transaction category. When more than one If a different daily interest rate applies to the Accounta Transaction (for example, a promotional interest rate on a Balance Transfer), we calculate use that different daily interest rate in our calculation. We will not charge you interest on unpaid interest. Here’s an Example of How We Charge Interest on Purchases If your statement period is April 1 – April 30, the end of your statement period will be April 30 and the payment due date will be May 21. • If you pay your entire Visa Account Balance by May 21, we will not charge you any interest charge based on any of the Purchases you made in April. • If you do not pay your entire Visa Account Balance by May 21, on May 22 we will start charging you interest on the Purchases you made in April. • The interest on your April Purchases will be charged starting on the Transaction date of each Purchase. Interest will be calculated on the average daily balance for each at the daily interest rate. Your • We will continue to charge interest every day on your April Purchases until your entire Visa Account statement shows Balance has been paid in full. • The 21-day grace period from May 1 – May 21 in this example applies only to new Purchases in April. If you have any Balances outstanding from Transactions from previous statements, we will continue to charge interest on those Balances every day (including May 1 – May 21) until you pay your annual interest rates, including any applicable promotional rates and the interest charges for each rate balanceentire Visa Account Balance in full.

How We Calculate Interest. You will avoid paying interest charges on Purchases listed on your  All Purpose Account statement provided you pay in full – Interest is calculated daily. We multiply the total balance indicated, at the latest, on the payment due date provided on your Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the amount you owe each day (for example, the amount in Purchases or Cash Advances) and divide that total by the number of days in your statement period daily interest rate (e.g.0.0819% per day), 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques are calculated which is based on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrierof 29.9%. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrier; • Any promotional interest rates that we may provide to you; or • Any amendment we make to those rates. If we amend the interest rates we chargeOnce a month, we will provide you with a minimum of 30 days written notice of the amended rates. The amount of interest we charge you on each Account statement sent every month is calculated as follows: • We add the amount you owe each day and divide that total by the number of days in the Account statement period. This is your average daily balance; • We multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (or, 366 on a leap year). We then multiply this value by the total number of days in the statement period to determine the interest we charge you. When more than one interest rate applies to the Account, we calculate the interest charge based on the average daily balance for each rate. Your Account statement shows your annual interest rates, including any applicable promotional rates and together the interest charges for each day, and the total interest charges is what we charge you per month for interest. You can avoid paying any interest on the Balance that appears on your Statement if we receive payment of the Balance in full by the Payment Due Date shown on your Statement. The number of days between the Statement Date and the Payment Due Date shown on your monthly Statement is the Grace Period. The minimum Grace Period is 21 days.  Equal Payment Plan and Preferred Motorized Equal Payment Plan – Monthly equal payments are determined by dividing the total amount of your Purchase plus related interest (interest is calculated at the applicable annual interest rate over the term agreed upon with us) by the number of months of the term. Your payment schedule will be provided to you at the time of your Purchase. If additional Purchases are made with available credit on your Equal Payment Plan and you have an existing balance on your Equal Payment Plan, the amounts of the new Purchase(s) are added to your existing account balance. Your new monthly equal payments and interest are determined as follows:  Your equal monthly payments will remain the same as they were prior to your additional purchases. The amount of your monthly payment applied to interest will increase, and the amount or your monthly payment applied to the principal amount will decrease. The term during which monthly payments are due will increase. Interest is calculated at the applicable annual interest rate over the new term.  For purchases over $200.00, your new payment schedule will be provided to you at the time of your new purchase and in your monthly statement.  For purchases less than $200.00, you will be provided a new payment schedule on your next monthly statement. Except as may be provided for purchases under a Promotional Offer (see below), interest accrues on each purchase (including on any administration fees or other fees charged) from the date of the Purchase until we receive payment in full of the Purchase, except we do not charge interest on interest until default. Subject to any interest-free grace period that applies, interest is charged from the purchase date until the Purchase is paid off.

How We Calculate Interest. You and Business will avoid paying interest charges on Purchases regular purchases listed on your the Account statement provided you or, as applicable, the Authorized Offcer Cardholder pay in full the total balance indicated, at the latest, on the payment due date provided on your the Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your the Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the amount you owe each day (for example, the amount in Purchases or Cash Advances) and divide that total by the number of days in your statement period (e.g., 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques Advances are calculated on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrier. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrier; • Any promotional interest rates that we may provide to youin respect of the Account; or • Any amendment we make to those rates. If we amend the interest rates we charge, we will provide you and, as applicable, the Authorized Offcer Cardholder with a minimum of 30 days written notice of the amended rates. We calculate the daily interest rate by dividing the annual interest rate by the number of days in the year. The amount of interest we charge you the Account on each Account statement sent every month is calculated as follows: • We add the amount you owe that is owing on the Account each day and divide that total by the number of days in the Account statement period. This is your average daily balancebalance for the Account; • We multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (or, 366 on a leap year). We then multiply this value by the total number of days in the statement period to determine the interest we charge youthe Account. When more than one interest rate applies to the Account, we calculate the interest charge based on the average daily balance for each rate. Your Each Account statement shows your the annual and daily interest ratesrates for the Account, including any applicable promotional rates and the interest charges for each rate balance.

How We Calculate Interest. You will avoid paying interest charges on Purchases listed on your ⮚ All Purpose Account statement provided you pay in full – Interest is calculated daily. We multiply the total balance indicated, at the latest, on the payment due date provided on your Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the amount you owe each day (for example, the amount in Purchases or Cash Advances) and divide that total by the number of days in your statement period daily interest rate (e.g.0.0819% per day), 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques are calculated which is based on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrierof 29.9%. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrier; • Any promotional interest rates that we may provide to you; or • Any amendment we make to those rates. If we amend the interest rates we chargeOnce a month, we will provide you with a minimum of 30 days written notice of the amended rates. The amount of interest we charge you on each Account statement sent every month is calculated as follows: • We add the amount you owe each day and divide that total by the number of days in the Account statement period. This is your average daily balance; • We multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (or, 366 on a leap year). We then multiply this value by the total number of days in the statement period to determine the interest we charge you. When more than one interest rate applies to the Account, we calculate the interest charge based on the average daily balance for each rate. Your Account statement shows your annual interest rates, including any applicable promotional rates and together the interest charges for each day, and the total interest charges is what we charge you per month for interest. You can avoid paying any interest on the Balance that appears on your Statement if we receive payment of the Balance in full by the Payment Due Date shown on your Statement. The number of days between the Statement Date and the Payment Due Date shown on your monthly Statement is the Grace Period. The minimum Grace Period is 21 days. ⮚ Equal Payment Plan and Preferred Motorized Equal Payment Plan – Monthly equal payments are determined by dividing the total amount of your Purchase plus related interest (interest is calculated at the applicable annual interest rate over the term agreed upon with us) by the number of months of the term. Your payment schedule will be provided to you at the time of your Purchase. If additional Purchases are made with available credit on your Equal Payment Plan and you have an existing balance on your Equal Payment Plan, the amounts of the new Purchase(s) are added to your existing account balance. Your new monthly equal payments and interest are determined as follows: • Your equal monthly payments will remain the same as they were prior to your additional purchases. The amount of your monthly payment applied to interest will increase, and the amount or your monthly payment applied to the principal amount will decrease. The term during which monthly payments are due will increase. Interest is calculated at the applicable annual interest rate over the new term. • For purchases over $200.00, your new payment schedule will be provided to you at the time of your new purchase and in your monthly statement. • For purchases less than $200.00, you will be provided a new payment schedule on your next monthly statement. Except as may be provided for purchases under a Promotional Offer (see below), interest accrues on each purchase (including on any administration fees or other fees charged) from the date of the Purchase until we receive payment in full of the Purchase, except we do not charge interest on interest until default. Subject to any interest-free grace period that applies, interest is charged from the purchase date until the Purchase is paid off.

How We Calculate Interest. You will avoid paying interest charges on Purchases regular purchases listed on your Account statement provided you pay in full the total balance indicated, at the latest, on the payment due date provided on your Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the amount you owe each day (for example, the amount in Purchases or Cash Advances) and divide that total by the number of days in your statement period (e.g., 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques Advances are calculated on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrier. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrier; • Any promotional interest rates that we may provide to you; or • Any amendment we make to those rates. If we amend the interest rates we charge, we will provide you with a minimum of 30 days written notice of the amended rates. We calculate the daily interest rate by dividing the annual interest rate by the number of days in the year. The amount of interest we charge you on each Account statement sent every month is calculated as follows: • We add the amount you owe each day and divide that total by the number of days in the Account statement period. This is your average daily balance; • We multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (or, 366 on a leap year). We then multiply this value by the total number of days in the statement period to determine the interest we charge you. When more than one interest rate applies to the Account, we calculate the interest charge based on the average daily balance for each rate. Your Account statement shows your annual and daily interest rates, including any applicable promotional rates and the interest charges for each rate balance.

How We Calculate Interest. You and the Business will avoid paying interest charges on Purchases regular purchases listed on your the Account statement provided you or, as applicable, the Account Administrator pay in full the total balance indicated, at the latest, on the payment due date provided on your the Account statement. Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your the Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier. We obtain the average daily balance by adding the amount you owe each day (for example, the amount in Purchases or Cash Advances) and divide that total by the number of days in your statement period (e.g., 30 days). Interest charges on Cash Advances, balance transfers or Convenience Cheques Advances are calculated on the average daily balance from the date on which the transaction was made until receipt of full payment, at the prevailing annual interest rate indicated on the Card Carrier. The interest rates we charge are: • The annual interest rates for Purchases and Cash Advances as shown on the Card Carrier; • Any promotional interest rates that we may provide to youin respect of the Account; or • Any amendment we make to those the annual interest rates or promotional interest rates. If we amend the interest rates we charge, we will provide you and, as applicable, the Account Administrator with a minimum of 30 days written notice of the amended rates. We calculate the daily interest rate by dividing the annual interest rate by the number of days in the year. The amount of interest we charge you the Account on each Account statement sent every month is calculated as follows: • We add the amount you owe that is owing on the Account each day and divide that total by the number of days in the Account statement period. This is your the average daily balancebalance for the Account; • We multiply the average daily balance by the applicable daily interest rate. The daily interest rate is equal to the annual interest rate(s) divided by 365 (or, 366 on a leap year). We then multiply this value by the total number of days in the statement period to determine the interest we charge youthe Account. When more than one interest rate applies to the Account, we calculate the interest charge based on the average daily balance for each rate. Your Each Account statement shows your the annual and daily interest ratesrates for the Account, including any applicable promotional rates and the interest charges for each rate balance.