Common use of Paying Interest Clause in Contracts

Paying Interest. There is a grace period of twenty-five (25) calendar days on all credit purchases of goods and services. In order to avoid finance charges on new purchases, you must pay the entire New Balance shown on the statement by the Payment Due Date. If you do not pay in full the New Balance shown on the statement by the Payment Due Date, all new purchases will accrue finance charges at the monthly periodic rate from the date of the purchase until the closing date of the billing cycle. There is no grace period on cash advance transactions, which accrue finance charges from the transaction date.

Paying Interest. There is a grace period of twenty-five (25) calendar days on all credit purchases of goods and services. In order to avoid finance charges on new purchases, you must pay the entire New Balance new balance shown on the statement by the Payment Due Datepayment due date. If you do not pay in full the New Balance new balance shown on the statement by the Payment Due Datepayment due date, all new purchases will accrue finance charges at the monthly periodic rate from the date of the purchase until the closing date of the billing cycle. There is no grace period on cash advance transactions, which accrue finance charges from the transaction posting date.