Grace Period for Purchases definition

Grace Period for Purchases. You can avoid interest charges on new purchases when they are first billed on a monthly statement, as described below, but not on cash advances or balance transfers. If a monthly statement includes new purchases, and you make a payment that we receive by the due date for that statement, which is at least 25 days after the close of the billing cycle, we will not charge interest on any portion of the new purchases on that statement to which we allocate such payment, provided that your current statement also shows that we received payment of the New Balance for your prior month’s statement by the payment due date on that statement or that the New Balance for your prior month’s statement was zero. Foreign Transactions: Purchases and cash advances made in foreign countries and foreign currencies will be billed to you in U.S. dollars. The exchange rate for transactions in a foreign currency will be a rate selected by VISA from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA itself receives, or the government mandated rate in effect for the applicable central processing date, in either case, plus 1% of the amount of the foreign currency purchase or cash advance after its conversion into U.S. dollars. The exchange rate in effect on the central processing date may differ from the rate in effect on either the transaction date or the posting date. The exchange rate is subject to change by VISA. These foreign transaction fees are finance charges. These fees will be added to your Account balance as a purchase.
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Grace Period for Purchases. You can avoid interest charges on new purchases when they are first billed on a monthly statement, as described below, but not on cash advances or balance transfers. If a monthly statement includes new purchases, and you make a payment that we receive by the due date for that statement, which is at least 25 days after the close of the billing cycle, we will not charge interest on any portion of the new purchases on that statement to which we allocate such payment, provided that your current statement also shows that we received payment of the New Balance for your prior month’s statement by the payment due date on that statement or that the New Balance for your prior month’s statement was zero. Foreign Transactions: Purchases and cash advances made in foreign countries and foreign currencies will be billed to you in U.S. dollars. The exchange rate for transactions in a foreign currency will be a rate selected by MasterCard from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate MasterCard itself receives, or the government mandated rate in effect for the applicable central processing date, in either case, plus 1% of the amount of the foreign currency purchase or cash advance after its conversion into U.S. dollars. The exchange rate in effect on the central processing date may differ from the rate in effect on either the transaction date or the posting date. The exchange rate is subject to change by MasterCard. These foreign transaction fees are finance charges. Annual Membership Fee: If your account has an annual fee, we will xxxx it to the account each year in the anniversary month that your account is opened whether or not you use your account, and you agree to pay it when billed. We will give you at least 30 days prior notice before we xxxx the annual fee. The annual fee is non-refundable unless you notify us that you wish to close your account within 30 days after we provide you the statement on which the annual fee is billed. Even though you pay the annual fee, we may close your account and or limit your right to make transactions on your account. Cash Advance and Balance Transfer Fees. We will charge you transaction fees for balance transfers and cash advances, and you agree to pay them when billed. These fees are finance charges.
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Grace Period for Purchases. If a Purchase is made using your Card during a billing period in which there was already any outstanding balance on the Account, there will be no grace period and INTEREST CHARGES on all Purchases will accrue from the date the Purchase is posted to your Account. If a Purchase is made during a period in which you had no outstanding balance on your Account, the grace period is not less than 25 days. In such cases, if your full New Balance is not paid in full on or before the payment due date, INTEREST CHARGES, at rates provided for in the disclosure of Pricing Information, will be assessed on your outstanding balance from the first day of the billing cycle following the cycle in which the transaction was made and on future Purchases from the date the Purchases are posted on your Account until the billing period in which we receive payment in full on all outstanding balances. We will not include any portion of a balance subject to a grace period that is repaid during the grace period in the calculation of the balance subject to INTEREST CHARGES. • Grace Period for Cash Advances (including other transactions defined above): On Cash Advances there is no grace period, and INTEREST CHARGES on Cash Advances are always assessed from the day of the Cash Advance transaction or the first day of the billing cycle in which it is posted to your account, whichever is later, until the day we receive payment in full of all outstanding Cash Advances. • Calculation of Monthly Periodic Rate: The Monthly Periodic Rates for Purchases and Cash Advances are based on ANNUAL PERCENTAGE RATES for Purchases and Cash Advances, respectively. The Monthly Periodic Rate for Purchases and Cash Advances for each billing period is 1/12th of the ANNUAL PERCENTAGE RATE for Purchases and 1/12th of the ANNUAL PERCENTAGE RATE for Cash Advances respectively in effect for that billing period, rounded to the nearest one hundredth of a percentage point.
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Examples of Grace Period for Purchases in a sentence

  • Grace Period for Purchases (including Balance Transfers): Your Payment Due Date is at least 23 days after the close of each billing cycle.

  • Payments in excess of the Total Minimum Payment will be applied to balances with the highest APR first and then to lower rate balances in descending order of APRs. How to Avoid Payment of Finance Charges for Purchases: Grace Period for Purchases (including Balance Transfers): To get a grace period on purchases, you must pay the new balance in full by the due date each billing period.

  • You have a 25 day Grace Period for Purchases (including any promotional Balance Transfers or Convenience Checks that will post as Purchases), provided you have paid your Previous Balance in full by the Payment Due Date shown on your monthly Account statement.

  • You have a minimum 21‑day interest‑free Grace Period for Purchases and fees.

  • You have a minimum 21-day interest-free Grace Period for Purchases and fees.

  • How to Avoid Payment of Finance Charges for Purchases: Grace Period for Purchases (including Balance Transfers): To get a grace period on Purchases (including Balance Transfers), you must pay the New Balance in full by the Payment Due Date each billing period.

Related to Grace Period for Purchases

  • Offering Period means a 24-month period with respect to which the right to purchase Stock may be granted under the Plan, as determined pursuant to Section 3(a).

  • Grace Period means the 30-day period following expiration of a license when the license is still considered to be active. In order to renew a license during the grace period, a licensee is required to pay a late fee.

  • Blackout Period shall have the meaning set forth in Section 3(n).

  • Maximum Program Amount means Common Shares with an aggregate Sales Price of the lesser of (a) the number or dollar amount of Common Shares registered under the effective Registration Statement (defined below) pursuant to which the offering is being made, (b) the number of authorized but unissued Common Shares (less Common Shares issuable upon exercise, conversion or exchange of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) the number or dollar amount of Common Shares permitted to be sold under Form S-3 (including General Instruction I.B.6 thereof, if applicable), or (d) the number or dollar amount of Common Shares for which the Company has filed a Prospectus (defined below).

  • Registration Period shall have the meaning assigned to such term in Section 3(a).

  • Minimum Hire Period means the Minimum Hire Period as described on the invoices, quotation, authority to hire, or any other forms as provided by the Supplier to the Client.

  • Minimum Term means, in respect of this Agreement, the period of 12 months beginning on the Effective Date;