Common use of Applying Your Payments Clause in Contracts

Applying Your Payments. All payments will be credited promptly, as required by applicable law. Payments received with the return portion of your Statement by 5:00 p.m. Eastern Time at the payment address indicated on the Statement, as well as payments made by 5:00 p.m. Eastern Time either electronically by Moneygram or online by using our web site or by any other means that we promote, will be posted to your Account as of that date. Payments received at the payment address after 5:00 p.m. Eastern Time, as well as payments made after 5:00 p.m. Eastern Time either by using our web site or by any other means that we promote, will be posted to your Account as of our next business day. All other payments will be credited within five days of receipt. Subject to applicable law, we will apply and allocate payment up to the Minimum Payment Due and any credits on your Account among balances and Charges in any order and manner determined by us in our sole discretion. You agree that we have the unconditional right to exercise this discretion in a way that is most favorable or convenient to us. Generally, the amount of payments credited to your Account during a Billing Cycle will be applied first to the balance bearing the lowest APR and then to balances bearing the higher APR, until the Minimum Payment Due payable in the Billing Cycle is credited to your Account. After that, the amount of payments remaining will be applied to the balance bearing the highest APR and then to balances bearing the lower APR in descending order. In most cases, credits will be applied first to the balance from which the corresponding debitoriginated.

Applying Your Payments. All payments will be credited promptly, as required by applicable law. Payments received with the return portion of your Statement by 5:00 p.m. Eastern Time at the payment address indicated on the Statement, as well as payments made by 5:00 p.m. Eastern Time either electronically by Moneygram or online by using our web site or by any other means that we promote, will be posted to your Account as of that date. Payments received at the payment address after 5:00 p.m. Eastern Time, as well as payments made after 5:00 p.m. Eastern Time either by using our web site or by any other means that we promote, will be posted to your Account as of our next business day. All other payments will be credited within five days of receipt. Subject to applicable law, we will apply and allocate payment up to the Minimum Payment Due and any credits on your Account among balances and Charges in any order and manner determined by us in our sole discretion. You agree that we have the unconditional right to exercise this discretion in a way that is most favorable or convenient to us. Generally, the amount of payments credited to your Account during a Billing Cycle will be applied first to the balance bearing the lowest APR and then to balances bearing the higher APR, until the Minimum Payment Due payable in the Billing Cycle is credited to your Account. After that, the amount of payments remaining will be applied to the balance bearing the highest APR and then to balances bearing the lower APR in descending order. In most cases, credits will be applied first to the balance from which the corresponding debitoriginateddebit originated.