Minimum Payment; Application of Payments. You must pay at least the minimum payment shown on your monthly statement each billing period. If the New Balance is more than $15, the minimum payment is $15 or 2.5% of the New Balance, whichever is greater. The minimum payment will be rounded up to the nearest dollar. If the New Balance is less than $15, the total New Balance is due. Any amounts past due or in excess of your Credit Limit will also be added to the minimum payment. Payment for more than the minimum amount due will be accepted as a single payment for that month. Any amount over the minimum is not applicable to future amounts due. In accordance with applicable law, we will choose the order in which payments are applied to your Account.
Appears in 4 contracts
Samples: Retail Installment Credit Agreement, Retail Installment Credit Agreement, Retail Installment Credit Agreement
