Common use of INTEREST RATES AND CALCULATION OF INTEREST Clause in Contracts

INTEREST RATES AND CALCULATION OF INTEREST. a) Regular purchases: interest shall not apply to regular purchases appearing on the account statement provided the statement’s total balance is paid in full by the due date shown on the statement. Otherwise, the regular purchases appearing on the statement shall be subject to interest based on the average daily balance from the date of each purchase until the purchases have been paid in full, at the annual interest rate in effect during the period covered by the account statement. However, if the balance indicated on a subsequent statement is paid in full by the due date shown, purchases not yet paid shall be exempt from interest for the period for which full payment has been made. Annual interest rate: 19.90% or 12.90% if the cardholder benefits from the Low Interest Rate option.

INTEREST RATES AND CALCULATION OF INTEREST. a) Regular purchases: interest shall not apply to regular purchases appearing on the account statement provided the statement’s total balance is paid in full by the due date shown on the statement. Otherwise, the regular purchases appearing on the statement shall be subject to interest based on the average daily balance from the date of each purchase until the purchases have been paid in full, at the annual interest rate in effect during the period covered by the account statement. However, if the balance indicated on a subsequent statement is paid in full by the due date shown, purchases not yet paid shall be exempt from interest for the period for which full payment has been made. Annual interest rate: 19.90% or 12.90% if the cardholder benefits from the Low Interest Rate option.19.9%