Total Outstanding Balance definition
Examples of Total Outstanding Balance in a sentence
In the event that the aggregate of the outstanding balance on your Card Account(s), and the total outstanding balance of your Balance Transfer(s) (the “Total Outstanding Balance”) exceeds your Credit Limit, you shall pay us on demand such amount as may be determined by us (the “Excess Amount”) to ensure that your Total Outstanding Balance is within your Credit Limit.
Where the Cardholder fails to settle the temporary Credit Limit used within the specified period, an over-the-limit fee may be imposed should the Total Outstanding Balance exceeds the combined card limit due to the temporary Credit Limit transaction.
If we receive payment of the Total Outstanding Balance (including all fees, charges, costs and expenses in connection with Card Transactions) in full on or before the Payment Due Date, you do not have to pay any finance charge or late charge on that Total Outstanding Balance.
Where the Cardmember fails to settle the temporary Credit Limit used within the specified period, an over-the-limit fee may be imposed should the Total Outstanding Balance exceeds the combined card limit due to the temporary Credit Limit transaction.
The Late Fee will be the greater of $75 or 7.99% (for monthly Billing Cycles) of the Total Outstanding Balance on the Calculation Date, not to exceed the amount allowable by applicable law.