Penalty APR and When it Sample Clauses
The "Penalty APR and When it" clause defines the circumstances under which a higher interest rate, known as the penalty APR, will be applied to a borrower's account. Typically, this clause outlines specific triggers such as late payments, returned payments, or exceeding the credit limit that result in the penalty APR being imposed. For example, if a cardholder misses a payment deadline, the penalty APR may replace the standard rate for future balances. The core function of this clause is to incentivize timely payments and responsible account management by imposing financial consequences for certain types of default or non-compliance.
Penalty APR and When it. Applies None Paying Interest Your due date is at least 21 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire new balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date. Minimum Interest Charge If you are charged interest, the charge will be no less than $1.75. 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 ● Monthly Fee Transaction Fees Either $10 or 5% of the amount of each transfer, whichever is greater Either $15 or 5% of the amount of each cash advance, whichever is greater Either $15 or 5% of the amount of each cash equivalent transaction, whichever is greater None or 3% of each transaction in U.S. dollars ● Balance Transfer ● Cash Advance ● Cash Equivalent ● Foreign Transaction ● Late Payment Up to $40 ● Returned Payment (Payment Dishonored) Up to $35 Index And When It Is Determined: We use the U.S. Prime Rate as published in the "Money Rates" section ofThe Wall Street Journal on the last day the rate is published in each calendar month (the determination date). The Index will be effective for the entire billing cycle that ends in the second month after the determination date. For example, if your billing cycle ends in July, we will use the Index determined on the last day the rate is published inThe Wall Street Journal in May. 24.74% to the Index (Prime Rate).
Penalty APR and When it. Applies 29.99%
Penalty APR and When it. Applies None Program Classic Secured Gold Platinum Chrome How We Will Calculate Your Balance: We use a method called “average daily balance” (including new purchases). See your account agreement for more details. Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.
Penalty APR and When it. Applies 22.9%. Your APR may increase to the Penalty APR if we fail to receive your minimum payment with in 60 days when due. You will no lon ger be eligible for the Standard Rate and all existing Promotional Credit Plans will terminate, and your entire Account balance will be subject to the Penalty Rate. If your Account becomes subject to the Penalty APR, we will provide advance notice before the new Penalty APR goes into effect. If you make the next six consecutive on time minimum payments starting with your first payment due once the Penalty APR goes into effect, your rates will return to the nonpenalty APR(s) applicable to your Account. If you do not make these six consecutive on time minimum payments, we may keep the Penalty APR on your Account indefinitely.
Penalty APR and When it. Applies None Program Classic Secured Gold Platinum Chrome
Penalty APR and When it. Applies None 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 How We Will Calculate Your Balance: We use a method called “average daily balance (including new transactions)”. See your account agreement for more details. Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in the attached account agreement.