Common use of Interest and Grace Periods Clause in Contracts

Interest and Grace Periods. 9.1. Interestaccrues on purchasesfromandincluding thedate of eachpurchase and on fees from and including the transaction date shown on your statement, however, you canavoidinterestbeingcharged on yourpurchases and fees by payingthetotalnew Balance in full by thepaymentduedate shown on yourstatement.Thepaymentdue date will be at least 21 days after the last day of the statement period.This period of time is referred to as an interest-free grace period. If you pay the total new Balance in full by the payment due date on your current statement, we will not charge interest on purchases, fees, or interest that appear for the first time on your current statement.There isno interest- freegraceperiodforCashAdvances,BalanceTransfers, Cash-like Transactions and Convenience Cheques nor any associated fees. Interest willalwaysaccrue on these transactionsand theirassociated fees fromthe transaction date shown on your statement.