Common use of Applying Your Payments Clause in Contracts

Applying Your Payments. In general, payments will be applied in the following order: unpaid interest, unpaid fees and other charges; and then principal balance. Payments on an account over the Minimum Payment due will be applied to the highest interest rate balance before being applied to other balances. Making payments over your Minimum Payment due does not pre-pay your future minimum payments.

Appears in 4 contracts

Sources: Cardholder Agreement, Cardholder Agreement, Cardholder Agreement