Balance Subject to Interest Rate definition

Balance Subject to Interest Rate is the “average daily balance,” of the account (including current transactions). To get the “average daily balance,” we take the beginning balance of the account each day, add any new cash advances, credit purchases and other charges, and subtract any payments or credits, unpaid late charges, unpaid membership fees and unpaid Interest Charges. This gives us the daily balance. Then, we add up all of the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the “AVERAGE DAILY BALANCE”. Interest Charges for credit purchases begin on the date the purchase is posted to the account unless the previous Balance shown on the statement is paid in full prior to the Statement Closing Date indicated on your statement. Credit purchases made during the statement period and the Previous Balance will be excluded from the calculation of the “average daily balance” if the Previous Balance shown on the front of the statement was paid in full prior to the Closing Date of the statement. The Interest Charges for cash advances begin on the date the advance is posted to the account. Holder may avoid additional Interest Charges on an account by paying in full the New Balance shown on the account’s monthly statement within 25 days after the Closing Date for that statement.
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Balance Subject to Interest Rate is the “average daily balance” of the account, including current transactions. We figure the INTEREST CHARGE on purchases on your account by applying the monthly periodic interest rate to the “average daily balance” of purchases on your account, including current transactions. To get the “average daily balance,” we take the beginning balance of the account each day, add any new cash advances, balance transfers, credit purchases, and other charges, and subtract any payments or credits, unpaid late charges, unpaid membership fees, and unpaid INTEREST CHARGES. This gives us the daily balance. Then we add up all of the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the “AVERAGE DAILY BALANCE.” INTEREST CHARGES for credit purchases begin on the date the purchase is posted to the card unless the Previous Balance shown on the periodic statement is paid in full prior to the Statement Closing Date. Credit purchases made during the statement period and the Previous Balance will be excluded from the calculation of the “average daily balance” if the Previous Balance shown on the periodic statement was paid in full prior to the Statement Closing Date. Holder may avoid additional INTEREST CHARGES on account by paying in full the New Balance shown on the periodic statement within 25 days after Statement Closing Date. NOTICE: SEE REVERSE SIDE FOR IMPORTANT INFORMATION REGARDING YOUR RIGHTS TO DISPUTE BILLING ERRORS.
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Balance Subject to Interest Rate is the “average daily balance” of each of the Categories of the Account (including new Purchases). To get the “average daily balance,” we take the beginning balance of each of the Categories of the Account each day, add any new Cash Advances, Purchases, Balance Transfers and other charges to each of the requisite Categories, subtract any payments or credits and add any unpaid late charges, unpaid membership fees and unpaid Interest Charges to each of the requisite Categories. This gives us the daily balance for each of the Categories. Then, we add up all of the daily balances for the Billing Period and divide the total by the number of days in the Billing Period. This gives us the “Average Daily Balance” for each of the Categories. Interest Charges for Purchases begin on the date the Purchase is posted to the Account unless the Previous Balance shown on the Statement is paid in full prior to the Statement Closing Date. Purchases made during the Billing Period and the Previous Balance will be excluded from the calculation of the “average daily balance” if the Previous Balance shown on the front of the Statement was paid in full prior to the Statement Closing Date. The Interest Charges for Cash Advances begin on the date the Cash Advance is posted to the Account. Holder may avoid additional Interest Charges on an Account by paying in full the New Balance shown on the Account’s Statement within 25 days after the Closing Date for that Statement. Billed and unpaid Interest Charges and additional fees will be included in the average daily balance, and as such, will accrue interest and reduce your Credit Limit.
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Examples of Balance Subject to Interest Rate in a sentence

  • The amount of the balance to which a periodic rate was applied and an explanation of how that balance was determined, using the term Balance Subject to Interest Rate.

  • This results in daily compounding of interest charges.• At the end of each billing period, we add together each Credit Plan’s Daily Interest Charge and make other adjustments, which gives us the total interest charge.• Your Statement will show a Balance Subject to Interest Rate, which is the sum of the Daily Balances for each day in the billing period divided by the total number of days.Rates• To calculate a variable rate, for each billing period, we use an Index.

  • This gives us the “average daily balance” which is shown on your statement as the Balance Subject to Interest Rate for Cash Advances.

  • The total interest charged for a Billing Cycle is the sum of the interest charged for each Balance Subject to Interest Rate.

  • This gives us the “average daily balance” which is shown on your statement as the Balance Subject to Interest Rate for Purchases.

  • We calculate interest charges for a Billing Cycle by multiplying the Balance Subject to Interest Rate for each category of transactions by its applicable monthly periodic rate.

  • Method of Computing Balance Subject to Interest Rate: We calculate the periodic rate or interest portion of the INTEREST CHARGE by multiplying the applicable DPR by the ADB (including new transactions) of the Purchase, Advance and Balance Transfer categories subject to interest, and then adding together the resulting interest from each category.

  • Your monthly billing statement shows each “Balance Subject to Interest Rate.” To calculate interest, we first calculate a daily balance for each Balance Subject to Interest Rate.

  • We start with the balance, for that Balance Subject to Interest Rate, as of the end of the previous day.

  • We calculate interest by multiplying each Balance Subject to Interest Rate by its applicable DPR and that result is multiplied by the number of days in the billing cycle.


More Definitions of Balance Subject to Interest Rate

Balance Subject to Interest Rate means the Average Daily Balance of the Account (including all current and/or processed Transactions).
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Balance Subject to Interest Rate is the “average daily balance,” of the account (including current transaction). To get the “average daily balance,” we take the beginning balance of the account each day, add any new cash advances, credit purchases and other charges, and subtract any payments or credits, unpaid late charges, unpaid membership fees and unpaid Interest Charges. This gives us the daily balance. Then, we add up all of the daily balances for the billing cycle and
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Balance Subject to Interest Rate is the “Average Daily Balance,” of the Account
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Balance Subject to Interest Rate is the “average daily balance,” of the Account (including current transaction). To get the “average daily balance,” We take the beginning balance of the Account each day, add any new cash advances, credit purchases and other charges, and subtract any payments or credits, unpaid late charges, unpaid membership fees and unpaid Interest Charges. This gives Us the daily balance. Then, We add up all of the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives Us the “AVERAGE DAILY BALANCE.” Interest Charges for credit purchases begin on the date the purchase is posted to the Account unless the Previous Balance shown on the statement is paid in full prior to the Closing Date of the statement. Credit purchases made during the statement period and the Previous Balance will be excluded from the
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Balance Subject to Interest Rate is the “average daily balance,” of the account (including current transaction). To get the “average daily balance,” We take the beginning balance of
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Balance Subject to Interest Rate means the average of the daily balances during the Billing Cycle.
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Related to Balance Subject to Interest Rate

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Class E Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-1 Interest Rate means 0.62000% per annum (computed on the basis of the actual number of days in the related Interest Accrual Period divided by 360).

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.