Minimum Interest Charge None Sample Clauses
The "Minimum Interest Charge None" clause specifies that there is no minimum amount of interest that will be charged on an account or loan, regardless of how small the calculated interest may be. In practice, this means that if the interest accrued during a billing period is very low—such as a few cents—only the actual amount will be charged, and there will be no automatic rounding up to a set minimum fee. This clause ensures that borrowers are only responsible for the true interest incurred, preventing the imposition of arbitrary minimum charges and promoting fairness in the calculation of interest.
Minimum Interest Charge None. For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at https//▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇▇▇▇ Annual Fee None. Penalty Fees 1. Late Payment Fee 2. Return Payment Fee up to $20.00 up to $10.00
Minimum Interest Charge None. For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/learnmore
Minimum Interest Charge None. For Credit Card Tips from the Consumer To learn more about factors to consider when applying for or using a credit card, visit the website
Minimum Interest Charge None. For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/learnmore • Annual Fee: None • Application Fee: None • Balance Transfer: None • Cash Advance: None • Foreign Transaction: 1% of each transaction in U.S. dollars • Late Payment: Up to $27.00 the first time your payment is late 10 days or more. If you make a subsequent late payment within the following 6 billing cycles, you will be charged up to $29.00 for each late payment. • Over-the-Credit Limit: None • Returned Payment: Up to $27.00 if your payment is returned for any reason $2.00/statement for prior calendar year. Up to $10.00 THE GRANTING OF THIS SECURITY INTEREST IS A CONDITION FOR Shares and deposits in an Individual Retirement Account or any other account that would lose special tax treatment under state or federal law if given are not subject to this security interest. If you have other loans with us, collateral securing such loans will also secure your obligations under this Agreement, unless that other collateral is your principal residence or non-purchase money household goods.
Minimum Interest Charge None. For Credit Card Tips From The Consumer Protection Bureau To learn more about the factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at: ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/ learnmore TRANSACTION FEES Cash Advance Foreign Transactions In-House Payment Balance Transfer Fee $25.00 for each transaction 1% of each transaction in U.S. dollars $3 for every payment made through the credit union 4% for each balance transferred. PENALTY FEES Late Payment Returned Check (NSF) Over Limit Fee Card Replacement Fee If your payment is not made on or before your due date you will be charged up to $25. You will be charged up to $27 for any check (or any negotiable instrument used for payment) returned unpaid None $10 How We Will Calculate Your Balance We use a method called “Average Daily Balance (including new purchases)”
Minimum Interest Charge None. For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/learnmore. Transaction Fees • Cash Advance Either $5 or 3% of the amount of each cash advance, whichever is greater, with a maximum charge of $40.00 • Late payment • Returned payment Up to $29 Up to $29 How We Will Calculate Your Balance: We use a method called “Average Daily Balance (including current transactions)” or Method G for purchases. We use a method called “Average Daily Balance (including current transactions)” or Method A for cash advances. Each method is explained below. Method G – Average Daily Balance (including current transactions). The Finance Charges for a billing cycle are computed by applying the monthly Periodic Rate to the “average daily balance” of purchases (and if applicable, cash advances). To get the average daily balance, we take the beginning balance of your account each day, add any new purchases or cash advances, and subtract any payments, credits, non- accruing fees, and unpaid finance charges. This gives us the daily balance. Then we add all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. The Finance Charge on purchases begins from the date the transaction is posted to your account. To avoid incurring an additional Finance Charge on the balance of purchases reflected on your monthly statement and, on any new purchases (and if applicable, cash advances) appearing on your next monthly statement, you must pay the New Balance, shown on your monthly statement, on or before the Payment Due Date. The grace period for the New Balance of purchases extends to the Payment Due Date. Method A – Average Daily Balance (including current transactions). The Finance Charges for a billing cycle are computed by applying the monthly Periodic Rate to the “average daily balance” of your account. To get the average daily balance, we take the beginning balance of your account each day, add any new purchases or cash advances, and subtract any payments, credits, non-accruing fees, and unpaid finance charges. This gives us the daily balance. Then we add all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. The Finance Charge on cash advances begin from the date you obtain the cash advance, or t...
Minimum Interest Charge None. For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/learnmore ¹New Accounts are defined as a credit card account which has been opened within the past 30 days. This does not include any upgrades from already established or existing credit card accounts and/or any credit limit increases. ²Introductory Rate is available only for balance transfers made within 60 days of account opening. Introductory Rate does not apply to balances transferred from other Tower Federal Credit Union credit cards or loans. Annual Fee None None None Application Fee None None None Balance Transfer None None 2.50% of the amount of each transfer Cash Advance 2.00% of the amount of each cash advance (minimum: $0.75) Cash Advance ATM: $0.75 per cash advance Cash Advance (Over-the- Counter): None 2.50% of the amount of each cash advance (minimum: $0.75) Foreign Transaction None 1.10% of each transaction in U.S. dollars if the transaction involves a currency conversion 1.00% of each transaction in U.S. dollars if the transaction involves a currency conversion Penalty Fees Late Payment Up to $25.00 if your payment is late 5 days or more Up to $20.00 if your payment is late 14 days or more Up to $25.00 if your payment is late 5 days or more Over-the-Credit Limit None None None Returned Payment Up to $20.00 if your payment is returned for any reason. None Up to $20.00 if your payment is returned for any reason.