Credit Purchases definition

Credit Purchases means extensions of credit from the Lender to you (other than Cash Advances) for Credit Purchases of merchandise or services through participating merchants, including mail or phone purchase orders of merchandise effectuated by using the account number on a Card.
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Credit Purchases. A FINANCE CHARGE will be imposed on Credit Purchases only if you elect not to pay the entire New Balance shown on your monthly statement for the previous billing cycle within 25 days from closing date of that statement. If you elect not to pay the entire New Balance shown on your previous monthly statement within that 25-day period, a FINANCE CHARGE will be imposed on the unpaid average daily balance of such Credit Purchases from the previous statement closing date and on new Credit Purchases from the date of posting to your Account during the current billing cycle, and will continue to accrue until the closing date of the billing cycle preceding the date on which the entire New Balance is paid in full or until the date of payment if more than 25 days from the closing date. The FINANCE CHARGE for a billing cycle is computed by applying the monthly Periodic Rate to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily Issuer may offer balance transfers from another loan to your Account from time to time. The Monthly Periodic Rate and ANNUAL PERCENTAGE RATE for such balance transfers will be disclosed to you before you make any such balance transfer.
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Credit Purchases means extensions of credit from the Credit Union to you (other than Cash Advances) for Credit Purchases of merchandise or services through participating merchants, including mail or phone purchase orders of merchandise effectuated by using the account number on a Card. "Credit Union" means Dort Federal Credit Union or any other person or entity to which the Credit Union assigns this Agreement or any of its rights under this Agreement. "Finance Charge" means the cost of credit extended to you on your Account as determined by the Credit Union expressed as a dollar amount. "Grace Period" means the time period in which the New Balance on a Monthly Billing Statement must be paid in full to avoid the further assessment of a Finance Charge. The Grace Period begins on the day following the Closing Date of a Billing Cycle and extends until the Payment Due Date. "Daily Periodic Rate" means 1/365th of the Annual Percentage Rate as set forth in the Schedule of Fees and Charges. "Monthly Billing Statement" means the statement sent to you on a monthly basis reflecting all charges and credits to your Account for each Billing Cycle. "New Balance" means the total of the Previous Balance together with New Credit Purchases, Cash Advances, accrued Finance Charge and other fees and charges, less payments and credits, posted to your Account during a Billing Cycle. "New Credit Purchase(s)" means the Credit Purchase(s) posted to your Account during the Billing Cycle reflected on your most recent Monthly Billing Statement. "Payment Due Date" means the date specified on your Monthly Billing Statement as the Payment Due Date for payment to the Credit Union on your Account. "Preauthorized Charges" means Credit Purchases for which you have given your preauthorization for a merchant or other person to debit your Account at specified times. "Previous Balance" means the balance of your Account at the beginning of a Billing Cycle, which is the same amount as that shown on the "New Balance" on your Monthly Billing Statement for the immediately preceding Billing Cycle. "Schedule of Fees and Charges" means the schedule shown at the end of this Agreement, including all amendments to that schedule, which lists the costs associated with your Account. "Unauthorized Use" means the use of your Card by a person who does not have actual, implied or apparent authority to use that Card. If you receive a benefit from the use of a Card by another or if a Card is used by an Authorized User, such use will...
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Examples of Credit Purchases in a sentence

  • You promise to pay for all Credit Purchases and Cash Advances made by anyone you authorize to use your account, with or without a card, and whether or not you notify us that he or she will be using it.

  • You agree to pay all charges, (including Credit Purchases and Cash Advances), to your Account that are made by you or anyone whom you authorize to use your Account.

  • For Credit Purchases – An INTEREST CHARGE will be imposed on Credit Purchases only if I elect not to pay the entire New Balance shown on my monthly statement for the previous billing cycle within twenty-five (25) days from the closing date of that statement.

  • Each daily balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases posted to your account, and subtracting any payments as received and credits as posted to your account, but excluding any unpaid Finance Charges.

  • If we do permit any such Credit Purchases, Cash Advances, or Balance Transfers, such permission will not result in any waiver of our rights under this section.

  • The FINANCE CHARGE for a billing cycle is computed by applying the monthly Periodic Rate to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle.

  • Typically, payments are applied in this order: FINANCE CHARGES; Fees; Minimum Payment - Cash Advances; Minimum Payment - Credit Purchases; Balance - Cash Advances and Balance - Credit Purchases.

  • The FINANCE CHARGE applicable to your Account for Cash Advances and Credit Purchases of goods and services that you obtain through the use of your Card is calculated in accordance with the following method.

  • You agree to pay us, when due, the total of all Credit Purchases, Cash Advances, Balance Transfers, Interest Charges, fees and collections costs arising from the use of your Account by you or any other person you permit to use your Account even if that person exceeds their permission.

  • A FINANCE CHARGE will not be imposed on Credit Purchases if you pay the entire New Balance shown on your monthly statement for the billing cycle during which such transactions are posted to your account within 25 days from the Closing Date of that statement.

Related to Credit Purchases

  • Refinancing Revolving Lender as defined in Section 2.26(a).

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Total Revolving Extensions of Credit at any time, the aggregate amount of the Revolving Extensions of Credit of the Revolving Lenders outstanding at such time.

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility