Finance Charge Reversal definition

Finance Charge Reversal. CSR will process a finance charge reversal if: • It is the only amount on a closed Account; or • A payment was posted late due to an error, the determination of error being in the reasonable discretion of the CSR; or • CH accidentally paid the incorrect amount. CH’s word shall be acceptable. Late Fee Reversal: CSR will process a late fee reversal if: • On a customer relations basis one-time only, which is determined by a memo retained on Account masterfile record; or • Fee incurred due to a processing error outside of CH’s control, the determination of error being in the reasonable discretion of the CSR; or • It is the only amount on a closed Account. Overlimit Fee Reversal: CSR will process an Overlimit fee reversal if: • On a customer relations basis one-time only, which is determined by memo retained on Account masterfile record; or • Fee incurred due to a processing error outside of CH’s control, the determination of error being in the reasonable discretion of the CSR; or • CH is not aware of an outstanding authorization, which takes away available credit. CH’s word shall be acceptable; or • It is the only amount on a closed Account.
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Finance Charge Reversal means, for any calendar month, the amount of any interest previously billed on a Retained Economics Loan (whether or not immediately payable) that is reversed during such month pursuant to the terms of a promotional offering.
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Examples of Finance Charge Reversal in a sentence

  • Each Year-End Settlement Statement shall set forth a calculation of the applicable Finance Charge Reversal Percentage and Late Fee Reversal Percentage for the preceding Fiscal Year and such other calculations as are necessary to calculate the payment in respect thereof to be made by the Parties pursuant to this Section 4.10.

  • If the Finance Charge Reversal Percentage with respect to the Private Label Accounts for such Fiscal Year is less than the applicable Low Collar, Bank shall pay the NMG Companies an amount equal to (A) the applicable Low Collar minus the Finance Charge Reversal Percentage with respect to the Private Label Accounts, multiplied by (B) the aggregate amount of all finance charges assessed on the Private Label Accounts during such preceding Fiscal Year.

  • If, with respect to any anniversary of the Closing Date, the Finance Charge Reversal Percentage is greater than the applicable High Collar, the Company shall pay Household Bank an amount equal to (i) the Finance Charge Reversal Percentage minus the applicable High Collar, multiplied by (ii) the aggregate amount of all finance charges assessed on the Accounts during the twelve month period ending with the month containing such anniversary of the Closing Date.