Periodic Rate. The percentage rate of Interest Charge imposed against a balance for a period. In this Agreement, a “Monthly” Periodic Rate is used. Special Advances: Credit we may extend to you in the form of Promotional Balance Transfers or Promotional Checks.
Periodic Rate. The interest charged on your Account is computed each billing period by multiplying the Average Daily Balance on your Account by the Applicable Daily Periodic Rate (the ANNUAL PERCENTAGE RATE divided by 360) and then multiplying this figure by the number of days in the billing period.
Periodic Rate. The Daily Periodic Rate and corresponding Interest Rate are variable rates and may change each month. The Interest Rate that applies to the Account is determined by adding a Margin to the Index, which is described below. Promotional Credit Plans. In addition to purchases that accrue Finance Charges and require monthly payments as described previously in this Credit Agreement, Promotional Credit Plans may be offered from time to time on specific purchases. Purchases made under these Promotional Credit Plans may have different Finance Charge calculations and required minimum payments. A Promotional Credit Plan is strictly limited by its terms and the terms and conditions of the promotion to which it relates. In addition, the benefits of a Promotional Credit Plan will expire and all accrued Finance Charges in these plans will be added to the Account if the Account is placed in default. During the last 2 months of any Promotional Credit Plan, payments in excess of the Total Minimum Payment Due will be applied to the remaining balance of the Promotional Credit Plan about to expire.
Periodic Rate. The “Periodic Rate” is the APR divided by 12. Subject to Section 20(b). Your APR will be the Index Rate (as defined in section 9) plus a Margin (as defined in section 10) and your periodic rate will be such APR divided by 12. The APR may change (increase or decrease) on the first day of your Billing Cycle that follows each Index Rate Adjustment (as defined in section 9) based on movements in the Index Rate. An increase in the APR means that you will be required to pay a higher percentage interest rate on your Average Daily Balance. In addition, an increase in the APR may increase your Minimum Payment.
Periodic Rate. Unless an introductory rate is in effect, the ANNUAL PERCENTAGE RATE may vary. We will determine monthly your variable ANNUAL PERCENTAGE RATE for purchases, cash advances, and balance transfers by adding 6.99% for VISA Purchasing Elite accounts or 10.99% for VISA Purchasing Premier accounts to the highest U.S. Prime Rate published in The Wall Street Journal on the 10th day (or prior business day) of the prior month. If The Wall Street Journal ceases publication or to publish the Prime Rate, we may use the Prime Rate published in any other newspaper of general circulation, or we may substitute a similar referenced rate at our sole discretion. The ANNUAL PERCENTAGE RATE shall in no event exceed 21% per annum. If there is a change in the ANNUAL PERCENTAGE RATE, that change will be effective on the first day of your next billing cycle. By way of example, the ANNUAL PERCENTAGE RATE that would have applied as of the June 2009 billing date is 10.24% for VISA Purchasing Elite accounts and 14.24% for VISA Purchasing Premier accounts which corresponds to a Periodic Rate of .08533% and 1.1867%, respectively. The Periodic Rate is the applicable ANNUAL PERCENTAGE RATE divided by 12.
Periodic Rate. On a regular basis, You will receive a statement showing all transactions on Your Account including amounts paid and borrowed since Your last statement. We will mail you a statement each month in which there is a debit or credit balance, or when a Finance Charge is imposed. We need not send You a statement if We feel Your Account is uncollectible or if We have started collection proceedings against You because You defaulted. Each statement is deemed to be a correct statement of account unless You establish a billing error pursuant to the Federal Truth-In-Lending Act. OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are under no obligation to honor Your convenience checks if: (a) by paying a convenience check, You would exceed Your credit limit; (2) Your cards or convenience checks have been reported lost or stolen; (3) Your Account has been cancelled or has expired. If a postdated convenience check is paid and, as a result, any other convenience check is returned unpaid, We are not responsible for any resulting loss or liability.
Periodic Rate. Unless an introductory rate is in effect, the ANNUAL PERCENTAGE RATE (“APR”) and Periodic Rate which will be used to determine your FINANCE CHARGE on any outstanding balance not paid by the Payment Due Date will be a variable rate that will either increase or decrease with changes in an index tied to the U.S. Prime Rate (the “Periodic Rate”). Any increase in the APR could result in an increased payment amount and/or an increase in the number of payments it will take to pay the balance due. We will determine monthly the variable APR applicable to your account for Purchases, Cash Advances and Balance Transfers as set forth on the back of the card mailer. Please see the back of the card mailer for details regarding the APR and Periodic Rate applicable to your account. The APR shall in no event exceed 21% per annum. If there is a change in the APR, that change will be effective on the first day of your next billing cycle.
Periodic Rate. The periodic rates applicable to purchases, cash advances, and balance transfers are disclosed on the Disclosure that accompanies this Agreement. Any penalty rate that may be imposed for failing to make a payment by the payment due date is also disclosed on the Disclosure. Any rate change will be made pursuant to applicable law.
Periodic Rate. The Daily Periodic Rate applicable to purchases and cash advances for the billing cycle is 1/365th of the Annual Percentage Rate effective for the billing period as disclosed below. The ANNUAL PERCENTAGE RATE is a Variable Rate and may be changed quarterly. Your APR is determined by adding a margin of 5.65% for Visa® Platinum cards to the prevailing U. S. Prime Rate. The U. S. Prime Rate used to determine your APR for each billing cycle is the highest rate appearing in The Wall Street Journal on the last day of the calendar months of March, June, September and December. If the Prime Rate has changed, the new rates will take effect with your billing period ending the following month. As of the effective date of this disclosure, the ANNUAL PERCENTAGE RATE is 8.9% for Visa® Platinum which corresponds to a daily periodic rate of 0.024% for Visa® Platinum. The Annual Percentage Rate will never be greater than 18.00%.
Periodic Rate. The periodic rate is disclosed to you in the Business Credit Card Rate Disclosure accompanying your Card, which is hereby incorporated herein by reference.
