Common use of Your minimum payment Clause in Contracts

Your minimum payment. The way we calculate your Minimum Payment will depend on the type of Visa Card that you hold. Here’s how we determine your Minimum Payment: Vancity Community Investment Bank Shared Interest Classic Minimum Payment will be the sum of: • 3% of the Balance shown on your statement, or $10, whichever is higher • any amount by which your balance exceeds your Credit Limit • any previous unpaid amounts Balance: $100 $500 3% of Balance: Overlimit Amount: Past Due Amount: $3 $0 $0 $15 $0 $50 Minimum Payment: $10 $65 Vancity Community Investment Bank Shared Interest Gold Minimum Payment will be the sum of: • 3% of the Balance shown on your statement, or $50, whichever is higher • any amount by which your balance exceeds your Credit Limit • any previous unpaid amounts Balance: $1000 $5500 3% of Balance: Overlimit Amount: Past Due Amount: $30 $0 $0 $165 $500 $0 Minimum Payment: $50 $665 For Vancity Community Investment Bank Shared Interest Classic Visa Cards, if your outstanding Balance is less than $10, you must pay it in full by the Payment Due Date (in that case, your Minimum Payment is your outstanding Balance). For Vancity Community Investment Bank Shared Interest Gold Visa Cards, if your outstanding Balance is less than $50, you must pay it in full by the Payment Due Date (in that case, your Minimum Payment is your outstanding Balance).