Common use of MINIMUM MONTHLY PAYMENT Clause in Contracts

MINIMUM MONTHLY PAYMENT. You agree that you will pay each month not less than the minimum monthly payment on or before the scheduled monthly due date. You may pay in full for all your purchase and cash transactions each month, or you may repay in monthly installments. The minimum payment is calculated at 2% of your outstanding balance or $25.00, whichever is greater, plus any amounts past due and/or overlimit. If your outstanding balance is less than $25, you agree to pay the balance in full. We can accept late payments or partial payments, or checks, drafts, and money orders marked “payment in full,” without prejudice to our rights under this Agreement, which are hereby explicitly reserved. Your minimum payment due will be applied first to any outstanding FINANCE CHARGES and fees, then to lower rate balances, with any excess being applied to the balance with the highest APR.

MINIMUM MONTHLY PAYMENT. You agree that you will pay each month not less than the minimum monthly payment on or before the scheduled monthly due date. The minimum monthly payment will be 2 percent of your outstanding balance (“New Balance”) or $10.00, whichever is greater. If your outstanding balance is $10.00 or less, you agree to pay the balance in full. You may pay in full for all your purchase purchases, cash advances and cash transactions balance transfers each month, or you may repay in monthly installments. The minimum payment is calculated at 2% of your outstanding balance or $25.00, whichever is greater, plus any amounts past due and/or overlimit. If your outstanding balance is less than $25, you agree to pay the balance in full. We can accept late payments or partial payments, or checks, drafts, and money orders marked “payment in full,” without prejudice to our rights under this Agreement, which are hereby explicitly reserved. Your minimum payment due will payments may be applied first allocated at the OnPoint’s discretion to any outstanding FINANCE CHARGES and fees, then to pay off lower rate balances, with any such as promotional offers, before higher rate balances, such as cash advances or purchases. Payments in excess being applied of the minimum payment will be allocated first to the balance with the highest APRhigher rate balances, as applicable.