Common use of Interest Charges Clause in Contracts

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. As a charge cardWhile you may always choose to pay your full new balance shown on your statement, the balance must always be paid in full each month in which case no interest charges will apply. Payment in apply if we do not receive your full means payment of the total new balance shown by the due date 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 Interest will not be charged on transactions and you will have an interest grace period of up to 31 days from the closing date that appears on your statement will be set 6 days before if every month we receive payment in FULL by the next statement date after the transaction first appeared on your billing statement. Payment in FULL means payment of the total new balance shown on your statement which is made up of all charges to your account (including purchases, funds advances, fees and other charges) up to the closing date to allow for payment processing by your financial institution and weekends and holidays. Please see your statement for detailsdate. If we do not receive payment in full of any charge FULL by the closing date of the next statement after the statement date, you will be charged interest on which it first appears, all charges transactions (except those that are not subject to interest) shown on that month’s statement and interest will be considered delinquentapplied to your account as described below. A delinquent charge remains delinquent until Any partial payment of your balance will have the effect of reducing the interest payable on your account. Except for Quebec residents, even if we receive payment in full and we do not allow delinquent charges to remain outstanding. Even if we then receive payment in full FULL of the new balance shown on your most recent statement, you will still be charged interest on all previously billed and unpaid charges transactions (except those that are not subject to interest), if any, up until the date that we receive payment in full FULL of that statement. These additional interest charges will appear on your next statement. If a charge becomes delinquentDue in full balances are part of the required monthly minimum payment and must be paid by the next statement date. However, interest is charged from and including only applies to due in full balances if they become delinquent. A due in full balance becomes delinquent when it remains unpaid on the day it is made (also called the transaction date on your statement), or from and including the first last 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 interestdue.

Interest Charges. As a charge cardWhile you may always choose to pay your full new balance shown on your statement, the balance must always be paid in full each month in which case no interest charges will applyapply if we do not receive your full new balance by the due date on your statement. Interest will not be charged on transactions and you will have an interest grace period for transactions of 21 days from the closing date on your statement to the payment due date (due date) if every month we receive payment in FULL by the due date. Payment in full FULL means payment of the total new balance shown on your statement. The interest grace period from the closing date statement which is made up of the current statement all charges to your account (including purchases, funds advances, fees and other charges) up 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 detailsdate. If we do not receive payment in full of any charge FULL by the closing payment due date, the grace period on your next statement will be extended to up to 25 days. The specific due date of will be shown on your statement. Subject to any interest-free grace period that may still apply, interest will be charged on any previous balances during this period. The grace period will revert to 21 days on 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 FULL. If the due date falls on a weekend or Canadian federal or applicable provincial holiday, if we receive payment in FULL by the next business day, you will still have an interest grace period for purchases as set out in this section. If we do not allow delinquent charges to remain outstanding. Even if we then receive payment in full FULL by the due date shown on your current statement, you will be charged interest on all transactions (except those that are not subject to interest) shown on that month’s statement and interest will be applied to your account as described below. Any partial payment of your balance will have the effect of reducing the interest payable on your account. Except for Quebec residents, even if we 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 transactions (except those that are not subject to interest) ,if any, up until the date that we receive payment in full FULL of that statement. These additional interest charges will appear on your next statement. If a charge becomes delinquentDue in full balances are part of the required monthly minimum payment and must be paid by the due date shown on the statement on which they first appear. However, interest is charged from and including only applies to due in full balances if they become delinquent. A due in full balance becomes delinquent when it remains unpaid on the day it is made (also called the transaction date on your statement), or from and including the first last 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 interestdue.