Total Balance definition
Examples of Total Balance in a sentence
However, if the Total Balance is less than the above calculated amount, then the Minimum Payment Due equals the Total Balance.
We use the formula above to make this calculation, but we subtract the financing plan balance or balances from the Total Balance.
Before July 30, 2021, your “Minimum Payment Due” equals the greater of: • The sum of $25 and any past due amounts; or • The sum of (i) 1% of the Total Balance (excluding any Daily Cash Adjustment), plus (ii) any unpaid Daily Cash Adjustments billed to your Account during that month, plus (iii) any interest billed to your Account during that month.
It will also identify your Total Balance, your Monthly Balance (if you do not have a financing plan, your Monthly Balance is equal to your Total Balance), the Minimum Payment Due and the payment due date.
You will then only maintain the Grace Period on the Total Balance in the following and each and every subsequent month by paying the Monthly Balance by its corresponding payment due date.