Common use of Minimum Balance Due Clause in Contracts

Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The “Minimum Balance Due” for each Statement is set out in the Rate and Fee Schedule. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit of any lower annual interest and/or credit rate promotional offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. As described in the Rate and Fee Schedule, the applicable annual interest and/or credit rates that apply to the Card Account (for Purchases and Cash Advances) may increase from a preferred rate to a default rate (if applicable), or from a standard rate to a default rate, if you do not pay at least the Minimum Balance Due by the Payment Due Date shown on your Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable and other credit charges will continue to apply. All amounts owed to Neo under this Agreement must be paid in Canadian currency.

Minimum Balance Due. The Primary Cardholder(s) must make a minimum monthly payment by the Payment Due Date for each Statement in an amount at least equal to the Minimum Balance Due. The “"Minimum Balance Due” " for each Statement is set out in the Rate and Fee Schedule. Any amounts which exceed the Credit Limit must be paid immediately (whether or not a Statement disclosing the excess has been provided). You may lose the benefit benefit of any lower annual interest and/or credit rate promotional offers offers in which you are participating if you do not pay the Minimum Balance Due by the Payment Due Date for any Statement. As described in the Rate and Fee Schedule, the applicable annual interest and/or credit rates that apply to the Card Account (for Purchases and Cash Advances) may increase from a preferred rate to a default rate (if applicable), or from a standard rate to a default rate, if you do not pay at least the Minimum Balance Due by the Payment Due Date shown on your Statement. From time to time, we may advise the Primary Cardholder(s) that the requirement to pay the Minimum Balance Due is waived. In that case even though the Primary Cardholder(s) are not required to make a payment for that Billing Period, interest at the annual interest rate(s) applicable and other credit charges will continue to apply. All amounts owed to Neo under this Agreement must be paid in Canadian currency.