Common use of HOW WE APPLY PAYMENTS Clause in Contracts

HOW WE APPLY PAYMENTS. Your Account may have balances with different interest rates. For example, purchases may have a lower interest rate than Balance Transfers. If your Account has balances with different interest rates here is how we generally apply payments in a Billing Cycle.

HOW WE APPLY PAYMENTS. Your Account may have balances with different interest rates. For example, purchases may have a lower interest rate than Balance Transfers. If your Account has balances with different interest rates here is how we generally apply payments in a Billing Cycle. We apply payments at our discretion. This may result in balances at lower APRs being paid before other balances. This may also result in higher interest charges.