Interest Charges. We calculate a Daily Balance for your Account. We maintain separate balances for your Purchases, Cash Advances and special promotional balances (each, a “Balance Type”) and calculate a Daily Balance for each. To determine the Daily Balance for a Balance Type, each day we take the beginning balance for the Balance Type, add any new charges included in that Balance Type, and subtract any payments and credits applied to that Balance Type. We then multiply the resulting balance by the applicable Daily Periodic Rate. The resulting daily Interest Charge is included in the beginning balance of that Balance Type for the next day. Purchases and Cash Advances are included in the Daily Balance as of the later of the transaction date or the first day of the billing period in which the Purchase or Cash Advance is posted to the Account. Cash Advance Fees are included in the Daily Balance of Cash Advances, and all other fees are included in the Daily Balance of Purchases, when posted to the Account. We figure the Interest Charge on your Account for each Balance Type by multiplying your Daily Balance of each Balance Type by the applicable Daily Periodic rate for each day in the billing cycle. At the end of the billing period, we will add up the daily Interest Charges on all Balance Types for each day in the billing period to get the total Interest Charge for the billing period. Interest Charges begin to accrue on Purchases as of the day the Purchase is included in the Daily Balance. However, if you paid the New Balance that was shown on your previous billing statement by the Payment Due Date on that statement, then (1) we will not impose Interest Charges on Purchases during your current billing period if you pay the New Balance shown on your current billing statement by the Payment Due Date on that statement, and (2) we will credit any payment (to the extent the payment is applied toward Purchases) as of the first day in your current billing period if you make a payment by the Payment Due Date that is less than the current billing period’s New Balance. If a New Balance was shown on your previous billing statement and you did not pay the New Balance by the Payment Due Date on that statement, then we will not impose Interest Charges on any Purchases during the current billing period if you pay the New Balance shown on your current billing statement by the Payment Due Date on that statement. There is no time period in which you may repay a Cash Advance and avoid imposition o...
Interest Charges. You agree to pay interest at the rate(s) disclosed to you at the time you open your account and as may be changed from time to time in accordance with applicable law. Average Daily Balance including new transactions: Interest Charges will accrue on your average daily balance outstanding during the month. To get the average daily balance, we take the beginning balance each day, add any new purchases, cash advances, balance transfers or other advances, and subtract any payments, unpaid interest charges, and unpaid late charges. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide that by the number of days in the billing cycle. We then multiply that by the periodic rate corresponding to the Annual Percentage Rate on your account. If you have different rates for purchases, cash advances or balance transfers, separate average daily balances for each will be calculated and the appropriate periodic rate is then applied to each.
Interest Charges. Interest charges. Interest will be charged on your account based on the APRs and outstanding balances for each Balance Category. However, interest will not be charged on any outstanding balance that is subject to an interest-free (grace) period. Interest will be calculated separately for each Balance Category and will begin to accrue on the transaction date unless subject to an interest-free (grace) period. Interest-free (grace) period. To avoid being charged interest on new purchases, you must pay your entire statement balance (including all special offer, promotional, and introductory balances) by the due date each month. You will not be charged interest for new purchases if you (a) pay your entire outstanding balance (the “New Balance”) listed on your current statement in full by its due date; and (b) paid your entire outstanding balance (the “New Balance”) listed on your previous statement in full by its due date (or your previous statement had a zero or credit balance). Notwithstanding, you will also not be charged interest for new purchases made in your current billing cycle if the only outstanding balances on your previous statement are under any Eligible Purchases Balance Category which are all at the introductory or promotional APR at the end of your current billing cycle. This interest-free (grace) period applies only to purchases and does not apply to balance transfers, cash advances, or special offers.
1. Start with the beginning balance. (This is the ending balance of the previous day plus an amount equal to the previous day’s ending balance multiplied by the daily periodic rate for that Balance Category.)
2. Add new transactions and fees. 3. Subtract payments, credits, or credit adjustments. 4. Which equals the ending balance for that day. B. We next calculate the average daily balance for each Balance Category. To do that, we add all your daily ending balances for each Balance Category for a billing cycle and then divide it by the number of days in the billing cycle. C. We next multiply your average daily balance for each Balance Category by its daily periodic rate. After that, we multiply that result by the number of days in the billing cycle. This will be the interest charge for that Balance Category except for minor differences due to rounding. For purposes of these calculations, we treat credit balances as a zero balance. This Agreement results in the daily compounding of interest, finance charges, and fees. How this information will app...
Interest Charges. As a charge card, the balance must always be paid in full each month in which case no interest charges will apply. Payment in full means payment of the total new balance shown on your statement. The interest grace period from the closing date of the current statement to the closing date of the next statement varies and will be 28, 29, 30, or 31 days depending on the number of days in the calendar month in which the current closing date occurs. The payment due date that appears on your statement will be set 6 days before the closing date to allow for payment processing by your financial institution and weekends and holidays. Please see your statement for details. If we do not receive payment in full of any charge by the closing date of the next statement after the statement on which it first appears, all charges on that statement will be considered delinquent. A delinquent charge remains delinquent until we receive payment in full and we do not allow delinquent charges to remain outstanding. Even if we then receive payment in full of the new balance shown on your most recent statement, you will still be charged interest on all previously billed and unpaid charges up until the date that we receive payment in full of that statement. These additional interest charges will appear on your next statement. If a charge becomes delinquent, interest is charged from and including the day it is made (also called the transaction date on your statement), or from and including the first day of the billing period in which it is first charged to your account, if that date is later, until the day we receive payment in full and credit your account. Interest is calculated each day during a billing period on the daily closing balance of charges on which interest is payable (taking into account any payments or credit to your account) at the daily rate (which is the annual interest rate divided by 365 or 366 in the case of a leap year). The annual interest rate that applies is 30% and the equivalent daily rate is 0.0822% or 0.0820% in the case of a leap year. We add together the interest charges for each day and the total interest for the billing period is then charged to your account and will appear on your statement on the last day of the billing period identified as interest.
Interest Charges. (a) The Borrower shall pay interest to the Administrative Agent, for the ratable benefit of the Lenders, with respect to the outstanding amount of each Advance made or maintained by each Lender during each Settlement Period, in arrears on each applicable Settlement Date, (i) for each LIBOR Rate Advance outstanding from time to time, at the applicable LIBOR Rate as in effect from time to time during the related Settlement Period, and (ii) for each Index Rate Advance outstanding from time to time, at the applicable Index Rate as in effect from time to time during the related Settlement Period. The Borrower shall pay interest to the Administrative Agent, for the benefit of the Swing Line Lender, with respect to the outstanding amount of each Swing Line Advance, in arrears on each applicable Settlement Date, at the LIBOR Rate as in effect from time to time during the period applicable to such Settlement Date. Interest for each Advance shall be calculated based upon actual days elapsed during the applicable Settlement Period, for a 360 day year based upon actual days elapsed since the last Settlement Date. Unless a LIBOR Rate Disruption Event shall have occurred, each Advance shall be a LIBOR Rate Advance.
(b) If any Termination Event or Designated Event has occurred and is continuing, the interest rates applicable to each Advance and any other unpaid Borrower Obligation hereunder shall be increased by two percent (2.0%) per annum (such increased rate, in each case, the “Default Rate”), and all outstanding Borrower Obligations shall bear interest at the applicable Default Rate from the date of such Termination Event or Designated Event until such Termination Event or Designated Event is waived or cured.
(c) The Administrative Agent is authorized to, and at its sole election may, charge to the Borrower as Advances and cause to be paid all Fees, expenses, charges, costs, interest and principal, other than principal of the Advances, owing by the Borrower under this Agreement or any of the other Transaction Documents if and to the extent the Borrower fails to pay any such amounts as and when due, and any charges so made shall constitute part of the Outstanding Principal Amount hereunder even if such charges would cause the aggregate balance of the Outstanding Principal Amount to exceed the Borrowing Base.
Interest Charges. Daily Interest Rates and Annual Percentage Rates may be found on the Rates and Fees Table.
Interest Charges. HOW INTEREST CHARGES ARE CALCULATED HOW DAILY BALANCE IS DETERMINED
a) Any new transactions;
b) Any previous day’s periodic Interest Charges;
c) Any Finance Charges; and
d) Any fees and charges, then • Subtract any payments and/or credits. We also make any needed adjustments. For example: • If a transaction posts after, but occurs before the start of a billing cycle, we may adjust the amount above to include this transaction. It will be included as of the first day of the billing cycle in which it posts. • If your Account is subject to a grace period during the billing cycle, your payments will be subtracted from all Daily Balances in the current billing cycle. • If a transaction for a returned payment or a dispute resolved in our favor posts after the beginning of the billing cycle, we will make this adjustment: The applicable Daily Balance(s) and any related Interest Charge calculations will be adjusted to include the transaction amount as of the date of the original payment or transaction. To calculate your Average Daily Balance, we: • Add the Daily Balances for each day of the billing cycle; then • Divide this total by the number of days in the billing cycle. Your due date is at least 25 days after the close of each billing cycle. Your Account has a grace period on purchases. We will not charge you interest on new purchases if you pay your previous non-promotional balance including fees and Interest Charges, by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date, unless, under the terms of the promotional offer, no interest will accrue during the promotional offer period, provided your account remains in good standing. However, no Interest will be charged on new purchase for any billing cycle when: • You paid your entire non-promotional balance plus any fees and finance charges in the previous month on time; and • You pay your entire current month’s non-promotional balance plus any fees and finance charges on time as well.
Interest Charges. Any amount, including the below-described collection costs and expenses, that is not paid when due will bear interest until fully paid at the rate of the lesser of (i) 1.5% per month compounded monthly, or (ii) the highest rate permitted by applicable law. Licensor shall also be entitled to recover its costs and expenses, if any, incurred in collecting such amount. Licensor’s entitlement to interest shall in no way affect Licensee’s obligations to make payment in accordance with this Agreement, and Licensor’s acceptance of such interest shall not be deemed to be a waiver of any of Licensees obligations respecting payments.
Interest Charges. In order to avoid an INTEREST CHARGE on purchases made since your last statement, you must pay the “Total New Balance” shown on or before the “Statement Due Date” shown on that statement (which will not be less than 25 days from the “Statement Date”). Otherwise, the INTEREST CHARGE on purchases is calculated on the next statement period on previously billed but unpaid purchases and on new purchases from the date they are posted to your account. Balance transfers and cash advances are always subject to an INTEREST CHARGE from the date they are posted to your account. The INTEREST CHARGE (interest) on purchases, balance transfers, and cash advances is calculated at the Daily Periodic Rate. The ANNUAL PERCENTAGE RATE (APR) on purchases, balance transfers and cash advances is between 13.9% (0.03808% Daily Periodic Rate) and 17.9% (0.04904% Daily Periodic Rate). The APR you receive is determined based on your creditworthiness, and we have notified you of your initial APR in the Platinum Plus Visa Account-Opening Credit Disclosures. We reserve the right to adjust or increase your APR, as allowed by applicable law. Separate INTEREST CHARGES for purchases, balance transfers, and cash advances are determined by multiplying the Daily Periodic Rate by the separate average daily balances for purchases, balance transfers, and cash advances by the number of days in the statement period. Each average daily balance is determined by taking the beginning balance (of purchases, balance transfers, or cash advances) in your account each day, adding any new purchases, balance transfers, or cash advances (whichever is applicable), and subtracting any payments or credits. The results are the daily balances. All the daily balances for the statement period are added and the total is divided by the number of days in the statement period to arrive at the average daily balances for the period.
Interest Charges. The following interest charges will apply whether before or after default, judgment, or the closing of your Account.
10.1: Periodic Interest Charges on Purchases, Balance Transfers and Cash Advances. We will not charge periodic interest on purchases and balance transfers if you pay in full the total New Balance listed on the previous monthly statement by the payment due date. Otherwise, we will charge periodic interest on each purchase and balance transfer from the date of that purchase and balance transfer transaction. For every cash advance we charge interest from the date of that transaction. There is no grace period during which a cash advance can be repaid without incurring an interest charge.
10.2: Periodic Interest Charge Calculation(s). The interest charged on purchase transactions and balance transfers is calculated separately from the interest charged on cash advances. Those separately calculated interest amounts are then combined to determine the total interest charged for the billing period. For each category of transactions, interest is calculated as follows.
(1) First, we determine the “average daily balance” by taking each day’s beginning balance, adding any new transactions, and subtracting any payments or credits. We do not add interest incurred during the billing period. The result is the “daily balance.” We then add all the daily balances for the billing period and divide by the number of days in the billing period. The result is the “average daily balance” (also called the “balance subject to interest charge” on your monthly statement).
(2) Second, we multiply the average daily balance by the number of days in the billing period. That number is then multiplied by the daily periodic rate (DPR) for that category of transactions. The resulting number is the interest charged for that category of transactions. If you are charged interest, the minimum interest charge will be no less than $1.
