Common use of Payments and Interest Clause in Contracts

Payments and Interest. 17.1 You must make at least the minimum monthly payment each month, to be received by us by the payment due date shown in your statement. Payments will reduce your balance only when they are credited to your Account. Your statement will give you guidance on when to make payments by different methods so that they reach us and can be added to your Account on time. We will treat any payment you make (or part of it) as paying off any arrears on the Account first before treating it as the minimum monthly payment due on the Account.

Payments and Interest. 17.1 16.1 You must make at least the minimum monthly payment each month, to be received by us by the payment due date shown in on your statement. Payments will reduce your balance only when they are credited to your Account. Your statement will give you guidance on when to make payments by different methods so that they reach us and can be added to your Account on time. We will treat any payment you make (or part of it) as paying off any arrears on the Account first before treating it as the minimum monthly payment due on the Account.