Common use of COST OF CREDIT Clause in Contracts

COST OF CREDIT. For VISA®, you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.018904% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 6.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.024383% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 8.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.02986% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 10.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.03534% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 12.9%. Cash advances (including balance transfers) incur an INTEREST CHARGE from the date they are posted to the account. If you have paid your account in full by the due date shown on the previous monthly statement, or there is no previous balance, you have not less than 25 days to repay your account balance before an INTEREST CHARGE on new purchases will be imposed. Otherwise, there is no grace period and new purchases will incur an INTEREST CHARGE from the date they are posted to the account. The INTEREST CHARGE is figured by applying the periodic rate to the “balance subject to INTEREST CHARGE” which is the “average daily balance” of your account, including certain current transactions. The “average daily balance” is arrived at by taking the beginning balance of your account each day and adding any new cash advances (including balance transfers), and unless you pay your account in full by the due date shown on your previous monthly statement or there is no previous balance, adding in new purchases, and subtracting any payments or credits and unpaid INTEREST CHARGES. This gives us the daily balance. The daily balances for the billing cycle are then added together and divided by the number of days in the billing cycle. The result is the “average daily balance.” The INTEREST CHARGE is determined by multiplying the “average daily balance” by the number of days in the billing cycle and applying the periodic rate to the product.

COST OF CREDIT. For VISA®MasterCard Platinum and VISA Platinum, you will pay an INTEREST a FINANCE CHARGE for all advances made against your account Account at the periodic rate of 0.018904.018904 - .046301% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 6.9% – 16.9%. For Share Secured MasterCard Platinum and VISA Platinum, or you will pay an INTEREST a FINANCE CHARGE for all advances made against your account Account at the periodic rate of 0.024383.046301% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 8.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.02986% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 10.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.03534% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 12.916.9%. Cash advances (including balance transfers) incur an INTEREST a FINANCE CHARGE from the date they are posted to the accountAccount. If you have paid your account Account in full by the due date shown on the previous monthly statement, or there is no previous balance, you have not less than 25 days to repay your account Account balance before an INTEREST a FINANCE CHARGE on new purchases will be imposed. Otherwise, there is no grace period and new purchases will incur an INTEREST a FINANCE CHARGE from the date they are posted to the accountAccount. The INTEREST FINANCE CHARGE is figured by applying the periodic rate to the “balance subject to INTEREST FINANCE CHARGE” which is the “average daily balance” of your accountAccount, including certain current transactions. The “average daily balance” is arrived at by taking the beginning balance of your account Account each day and adding any new cash advances (including balance transfers)advances, and unless you pay your account Account in full by the due date shown on your previous monthly statement or there is no previous balance, adding in new purchases, and subtracting any payments or credits and unpaid INTEREST FINANCE CHARGES. This gives us the daily balance. The daily balances for the billing cycle are then added together and divided by the number of days in the billing cycle. The result is the “average daily balance.” The INTEREST FINANCE CHARGE is determined by multiplying the “average daily balance” by the number of days in the billing cycle and applying the periodic rate to the product. The official periodic statement we send to the Key Account Holder for the MasterCard Family Account will reflect a separate and a combined minimum payment for the Key Account and all linked Parent Pay Dependent Accounts. The Key Account Holder may remit separate payments for the Key Account and each Parent Pay Dependent Account or combine payment for the Accounts. If a payment sent to our physical payment address is combined, then the combined payment will be allocated among the linked Key Account and Parent Pay Dependent Accounts as follows, unless you tell us otherwise in a manner approved by us when you send the payment; Payment will first be applied to pay any delinquent amount due on the Key Account or Parent Pay Dependent Accounts. We will then apply any remaining amount to pay the remaining required minimum payment for the Key Account and each Parent Pay Dependent Account. Any remaining excess amount will be applied to the Key Account and Parent Pay Dependent Accounts according to each Account’s balance as a percentage of the Parent Pay Family Account group’s aggregate balance. If an unspecified combined payment is not adequate to pay the required minimum payment for the Key Account and each Parent Pay Dependent Account, then the payment may be applied among the Key Account and Parent Pay Dependent Accounts at our discretion. Payments made by way of the ▇▇▇▇▇▇▇▇▇▇.▇▇▇ website or by way of any other automated means will be applied entirely to the Account associated with the payment. You acknowledge and agree that, if you make payments electronically or by way of another automated means, you must make separate payments of at least the Minimum Payment due for the Key Account and each Parent Pay Dependent Account in order to satisfy your payment obligations under this Agreement and any other Parent Pay Dependent Account card agreement you have with us.

COST OF CREDIT. For VISA®MasterCard® or for Share Secured MasterCard you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.032603% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 11.9%. For Gold MasterCard, you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.0189040.028767% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 6.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.024383% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 8.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.02986% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 10.9%, or you will pay an INTEREST CHARGE for all advances made against your account at the periodic rate of 0.03534% per day, which has a corresponding ANNUAL PERCENTAGE RATE of 12.910.5%. Cash advances (including balance transfers) incur an INTEREST CHARGE from the date they are posted post to the account. If you have paid your account in full by the due date shown on the previous monthly statement, or there is no previous balance, you have not less than 25 days to repay your account balance before an INTEREST CHARGE interest charge on new purchases will be imposed. Otherwise, there is no grace period and new purchases will incur an INTEREST CHARGE from the date they are posted to the account. The INTEREST CHARGE is figured by applying the periodic rate to the “balance subject to INTEREST CHARGE” which is the “average daily balance” of your account, including certain current transactions. The “average daily balance” is arrived at by taking the beginning balance of your account each day and adding any new cash advances (including balance transfers), and unless you pay your account in full by the due date shown on your previous monthly statement or there is no previous balance, adding in new purchases, and subtracting any payments or credits and unpaid INTEREST CHARGES. This gives us the daily balance. The daily balances balance for the billing cycle are then added together and divided by the number of days in the billing cycle. The result is the “average daily balance.” The INTEREST INTERSET CHARGE is determined by multiplying the “average daily balance” by the number of days in the billing cycle and applying the periodic rate to the product.