Common use of Overlimit fee Clause in Contracts

Overlimit fee. If you have opted-in for Overlimit coverage and if your New Balance exceeds your Credit Line on the Closing Date of the Billing Cycle, we will apply an Overlimit Fee to your Account in the amount shown in the accompanying Summary of Terms. Only one Overlimit Fee will be assessed in any one Billing Cycle regardless of the number of times that your Account may become Overlimit. Should any item in payment of your Account be returned to us unpaid for any reason, we will apply a Returned Payment Fee to your Account in the amount shown in the accompanying Summary of Terms.