Purchase Transactions definition
Examples of Purchase Transactions in a sentence
Finance Charges, at the Annual Percentage Rate (“APR”) calculated in the manner set forth in Paragraph 8 below, begin to accrue on the Posting Date for Purchase Transactions, Balance Transfer Transactions, Cash Advance Transactions, and Convenience Check Transactions.
To calculate the “Average Daily Balance” for Purchase Transactions and Balance Transfer Transactions, we (a) take the beginning Balance of your Purchase Transactions and Balance Transfer Transactions on each day in the Billing Cycle (including the Closing Date), add new Purchase Transactions and Balance Transfer Transactions, and subtract Payments, Credit Refunds, Fees, and unpaid Finance Charge, and (b) divide the total by the number of days in the Billing Cycle.
To avoid paying Finance Charges on Purchase Transactions, the entire outstanding balance of all Purchase, Cash Advance, and Balance Transfer transactions as of the statement date and any Cash Advance or Balance Transfer transactions posted after the statement date, plus any Finance Charges and fees must be paid in full by the due date or the Finance Charge will be assessed from the date each purchase transaction posted.
To avoid paying interest on Purchase Transactions, the entire balance indicated on the monthly statement (including all Purchase, Cash Advance, and Balance Transfer transactions plus interest and fees) must be paid in full by the due date or the Finance Charge will be assessed from the date each purchase transaction posted.
If your Account is used for any Transaction not permitted by this Agreement, we will treat these Transactions as Purchase Transactions for purposes of applying interest, and you are responsible for these Transactions and any related interest or Daily Cash Adjustments.