Common use of HOW PAYMENTS ARE APPLIED Clause in Contracts

HOW PAYMENTS ARE APPLIED. The Payment is applied in the following order: First, fees; second, finance charge; third, non-accruing balance (i.e. insurance premiums); fourth, old purchases; fifth, old cash advances; sixth, current cash advances (cycle to date); seventh, current purchases (cycle to date). 7.

HOW PAYMENTS ARE APPLIED. The Payment is Payments are applied in the following order: First, first to fees; second, finance charge; third, non-accruing balance (i.e. insurance premiums)balance; fourth, old purchasespurchases and advances; fifth, old cash advances; sixth, current cash purchases and advances (cycle to date); seventh, current purchases (cycle to date). 7.