Definition of Terms

Please note this document is intended to be a reference guide to help you understand your statement. For full terms and conditions, please consult your Cardholder Agreement or call us at the number listed on the back of your Card.

Below are the terms commonly used in your account statement – in alphabetical order. Click on the term; or, click view a sample statement to see where you can find the term on your statement.

Account Activity
A list of any new purchases, fees, credits, payments or interest charges made to your account during the Statement Period.

Your Account Activity is included in your New Balance.
Annual Interest Rate
A percentage rate we charge to transactions that are not paid in full.
You could have more than one Annual Interest Rate listed on your statement if you have balances under financing plans. You would find this in the Interest Charge Schedule.
Average Daily Balance
Also called Balance Subject to Interest
The amount we use to calculate how much interest we can charge on your account. This amount is listed in the Interest Charge Schedule section of your statement.

This amount is calculated at the end of your Statement Period by adding together the balances at the end of each day. We then divide that total by the number of days in the Statement Period.

For example:
  • Your initial balance = $0
  • Your Statement Period this month (e.g., 01/01/2013 -01/31/2013) = 31 days
  • You buy $100 of merchandise on Day 5 and $250 on Day 15
  • Your Average Daily Balance = $224.19

Day 1-4
(4 days
of zero
balance)
+ Day 5-14
(10 days of $100
balance)
+ Day 15-31
(17 days of
$350
($250+$100)
balance)
÷ # of billing
days
ADB
$0.00x4 + $100x10 + $350x17 ÷ 31 $224.19
Balance Transfer
The act of using fund available on your Credit Card to pay off a debt from another creditor or financial institution.
New Balance Transfers are shown in the Account Activity section; after the first month, Balance Transfers are included in the Previous Balance and Interest Charge Schedule.
Interest accumulates daily starting the date we post the transaction.

Note: Not a feature on all Cards. If not listed on your statement, you are not able to transfer a balance.
Base Payment
The amount you need to pay to maintain the current account standing or from falling further delinquent. This is an amount equal to whichever is greater:
  • $10 or
  • 1% of your New Balance amount on your account statement
PLUS any over limit fees and/or new interest charges
Cash Advance
Includes:
  • Cash from an ATM or a Financial Institution
  • Convenience Cheques (no longer issued)
  • Balance transfers
  • Cash equivalent transactions (including casino gaming chips, bail bonds, etc.)
New Cash Advances are shown in the Account Activity section. After the first month Cash Advances are included in the Previous Balance and Interest Charge Schedule.
Interest accumulates daily starting the date we post the transaction.

Note: Not a feature on all Cards. If not listed on your statement, you are not able to access cash.
Cash Available
The amount you have available to use for cash transactions. This includes:
  • Cash from an ATM or a Financial Institution
  • Convenience Cheques (no longer issued)
  • Balance transfers
  • Cash equivalent transactions (including casino gaming chips, bail bonds, etc.)
Cash Available is included in your Credit Available.

Note: Not a feature on all Cards. If not listed on your statement, you are not eligible for cash transactions.
Credit Available
The unused amount of your credit you can use for new transactions.
Your Credit Available = Your Credit Limit minus any transactions you have made that you haven't paid for yet.

For example:
Credit Limit    $5,000
New Balance − $   300
Promotion Plan Balance − $1,000


Your Credit Available    $3,700
Credit Limit
The amount of funds you have been approved to use. If you spend more than this limit, over limit fees may apply.
Credit
Any refund you receive in the current Statement Period. Credits and Payments also show as a (-) amount in the Account Activity section, they reduces the amount of money you owe.
Daily Interest Rate
An amount equal to your Annual Interest Rate divided by 365 days.
Debit
Amounts showing as a (+), they increase the amount of money you owe. For example, when you make a purchase.
Important News
Displays any important information related to your account.
Interest
The total amount of interest we charged on your current statement.
Interest Charge Schedule
A list of Average Daily Balances and their applicable interest rates.
Interest Charges per Category
The total interest charges on your account in your current Statement Period organized by their specific interest charge category. Categories include Purchases, Cash and Optional Financing Programs and can be subdivided within those categories by the Annual Interest Rate.
Minimum Payment Due
The amount you need to pay to reduce your balance. Includes your "Base Payment"-PLUS the following amounts, as applicable:
  • Insurance premiums
  • Past due amounts
  • Amounts over your Credit Limit
New Balance
The total amount you currently owe on your account.

If you have a positive credit balance, it means you may have overpaid your account or had an amount refunded larger than the amount you owe. It will show with a minus sign in front of it, e.g., -$120.00.

This does not include any Equal Payment No Interest plans or any recent transactions billed after your statement date.
Optional Financing Programs Summary
A list of all optional financing plans and promotions. This section outlines:
  • the date of the purchase or transaction
  • description of the plan
  • amount unpaid
  • promotional end date
The following promotional plans that can appear here include:
  • Equal Payment No Interest
  • No Payment Waived Interest
  • Same as Cash
  • Same as Cash with Minimum Pay
  • No Interest with Minimum Pay
Past Due Amount
Includes missed or incomplete base payments. Will only display if you are past due.
Payment Due Date
The date we need to receive your payment by.
Payments
Any amounts you paid in the current Statement Period. Credits and Payments also show as a (-) amount in the Account Activity section, they reduce the amount of money you owe.
Previous Balance
The New Balance from your previous statement.
Promotion End Date
The date that your promotional financing plan expires.
Purchases and Charges
Transactions applied to your account within your Statement Period.
These transactions (including Equal Payment installments) are listed in the "Account Activity" section.
Statement Date
The date we print your statement.
Statement Period
The time period covered by your monthly account statement, depending on the number of days during the month. Normally between 28 and 33 days.
Unpaid Balance
Refers to remaining amount owing on a purchase made under the specific financing terms of a promotional plan.
Please see Optional Financing Programs section for more information on the different types of promotional plans.

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