When Interest Charges Begin; Grace Periods for Purchases Only Sample Clauses

When Interest Charges Begin; Grace Periods for Purchases Only. We calculate Interest Charges separately for Cash Advances and Purchases. There is no grace period for Cash Advances so you will pay Interest Charges on all Cash Advances from the date they are posted to your Credit Account until paid in full. You will pay an Interest Charge on Purchases from the date they are posted to your Credit Account until paid in full, unless the Purchase is subject to a grace period. There is a grace period during which no Interest Charge will be imposed on Purchases. Each Payment Due Date will be at least 25 days from the statement closing date and is printed on each billing statement you receive. Purchase transactions appearing on your billing statement (“New Purchases”) will not be subject to an Interest Charge if: 1. you either had no balance owed reflected on your immediately prior billing statement or paid the New Balance reflected on your immediately prior billing statement in full by the Payment Due Date shown on that Billing Statement, and 2. you also pay the New Balance reflected on the current billing statement (the statement reflecting the New Purchases) in full by the Payment Due Date reflected on the current billing statement. If you do not satisfy condition 1 above, the New Purchases will be subject to an Interest Charge from the day they were posted to your Credit Account. If you satisfy condition 1 above but do not satisfy condition 2 above, New Purchases will be subject to an Interest Charge from the date posted to your Credit Account until paid in full.
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