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CARD SERVICES UNDERSTANDING INTEREST

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<strong>CARD</strong> <strong>SERVICES</strong><br />

<strong>UNDERSTANDING</strong> <strong>INTEREST</strong><br />

Card Services is a division of Macquarie Bank Limited ABN 46 008 583 542<br />

which provides and administers credit.


This guide provides an overview of the<br />

interest charges associated with your Jetstar<br />

Credit Card. For more details, please refer<br />

to your letter of offer and conditions of use<br />

booklet, or contact us on 1300 150 100.<br />

What is the interest rate on my Jetstar Credit Card?<br />

Interest is charged on borrowing money, calculated based on the balance you have<br />

outstanding on each day of the statement cycle. The interest rate, also known as the<br />

‘Annual Percentage Rate’ (APR) is included on the front page of every statement you<br />

receive. Interest is calculated based on the daily rate of interest (the APR divided by<br />

the number of days per year). This rate is also included on each monthly statement<br />

and is effective for interest calculations in that statement period.<br />

Daily percentage rate = APR/365 days<br />

Interest rates are variable and subject to change. When interest rates change, you will<br />

be notified by an advertisement in a national newspaper or in writing. If we notify you<br />

of a change by advertisement, your next statement will also include a notification of<br />

the new interest rate.<br />

The type of transactions you make and the way in which you make payments to your<br />

account will determine if interest is charged to your account.<br />

This guide is for information purposes only and does not form part of your credit contract. In the event of any<br />

inconsistencies between this guide and the Conditions Of Use, the Conditions of Use prevail.<br />

When must payment be made to my account?<br />

The “minimum monthly payment” is calculated as a percentage of your closing<br />

balance for the statement period or $20 (whichever is greater). This amount, as<br />

indicated on your statement, must be paid by the due date. You must pay the full<br />

amount of the closing balance if it is less than $20.<br />

You may always pay more than this amount and payments can be made at any<br />

time. If your balance exceeds your credit limit or you have an overdue payment<br />

outstanding, immediate payment must be made to your account.<br />

Payment must be received by the due date indicated on your statement. Please<br />

allow time for these funds to clear before they are credited and available on<br />

your account.<br />

You will not receive a statement if there is no activity, including interest charges or<br />

fees, in that statement period.<br />

2 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 3


How are payments allocated to my account?<br />

Payments are also allocated to your account in a particular order. They are allocated<br />

to an account in the following order:<br />

n interest charges<br />

n special promotions e.g. balance transfer offers<br />

n other fees and charges e.g. the annual fee<br />

n purchases<br />

n cash advances<br />

Special promotions – this includes any introductory offer or promotional rate<br />

e.g. 0% interest on balance transfers for 6 months. Transactions included in this offer<br />

will be classified as a ‘special promotion’ for this time period only. Following the expiry<br />

of this offer, any outstanding funds will be charged interest at the current purchases<br />

interest rate. This will appear on your statement as ‘special interest’.<br />

Purchases – interest is charged on transactions including retail spend, BPAY<br />

transactions, direct debit payments. These transactions may be eligible for up to<br />

55 days interest free.<br />

Cash advances – this includes withdrawals of cash from ATMs or over the counter<br />

at a bank and cash advance related fees. Interest is charged from the date of the<br />

transaction. Interest free days do not apply to cash advances.<br />

If you have multiple balance transfers, payments will be allocated to the<br />

lowest interest rate first. You are unable to pay off your annual fee before any<br />

balance transfers.<br />

How must payment be made so interest is<br />

not charged?<br />

Your Jetstar Credit Card offers up to 55 days interest free on purchases. These<br />

interest free days are only available on purchases and not other types of transactions,<br />

such as cash advances and balance transfers. You are eligible for these interest free<br />

days when the closing balance of your previous statement is continuously paid in full<br />

on or before the due date indicated on your statement. This due date is typically 25<br />

days after the end of your statement period when your statement is issued to you.<br />

In the following example, no interest is charged on the January statement since full<br />

payment was received by the due date of 27th January. As full payment is always<br />

made by the due date, interest is not charged on purchases in the subsequent<br />

statement period.<br />

Example 1: Full payment is received by the due date<br />

Account is approved on 3rd December 2007 and begins first statement period with<br />

$0.00 balance.<br />

December Statement<br />

Statement Period 3 December 2007 – 2 January 2008<br />

Summary of Charges<br />

Opening Balance $0.00<br />

Payments & Credits $0.00<br />

Purchases $89.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $89.00 Dr<br />

Payment Summary<br />

Closing Balance $89.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/01/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/12/2007 OPENING BALANCE $0.00<br />

06/12/2007 GROCERIES $56.00 $56.00<br />

24/12/2007 GIFTS $33.00 $89.00<br />

End of statement<br />

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Example 1: Full payment is received by the due date (continued)<br />

January Statement<br />

Statement Period 3 January 2008 – 2 February 2008<br />

Summary of Charges<br />

Opening Balance $89.00<br />

Payments & Credits -$89.00<br />

Purchases $80.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $80.00 Dr<br />

Payment Summary<br />

Closing Balance $80.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/02/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/01/2008 OPENING BALANCE $89.00 Dr<br />

26/01/2008 PAYMENT -$89.00 $0.00<br />

27/01/2008 PETROL $35.00 $35.00<br />

28/01/2008 ENTERTAINMENT $25.00 $60.00<br />

29/01/2008 RESTAURANT $20.00 $80.00<br />

End of statement<br />

Example 1: Full payment is received by the due date (continued)<br />

February Statement<br />

Statement Period 3 February 2008 – 2 March 2008<br />

Summary of Charges<br />

Opening Balance $80.00<br />

Payments & Credits -$80.00<br />

Purchases $75.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $75.00 Dr<br />

Payment Summary<br />

Closing Balance $75.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/03/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/02/2008 OPENING BALANCE $80.00 Dr<br />

27/02/2008 PAYMENT -$80.00 $0.00<br />

28/02/2008 INSURANCE $50.00 $50.00<br />

01/03/2008 PETROL $25.00 $75.00<br />

End of statement<br />

6 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 7


How is interest charged when full payment is not<br />

received by the due date?<br />

When full payment is not received by the due date, the daily interest rate will be<br />

charged on the outstanding balance for each day of the statement period.<br />

You can calculate how much interest has been charged to your account by<br />

performing the following three steps:<br />

n Calculate the aggregated balance for any opening balance, new transaction<br />

or payment by multiplying the amount by the number of days remaining in the<br />

statement period.<br />

n Calculate the total aggregated balance by summing all aggregated balances for<br />

the statement period.<br />

n Calculate the interest payment by multiplying the total aggregated balance by<br />

the daily interest rate.<br />

Interest will be charged to your account on the last day of the statement period.<br />

When full payment is made after the due date, an account is no longer entitled to<br />

interest free days on purchases. Interest will then be calculated from the beginning<br />

of the previous statement period (for purchases made during the previous statement<br />

period), and charged at the end of the current statement period. A late payment fee<br />

will also be incurred.<br />

Following is an example showing how interest is calculated when full payment is not<br />

received by the payment due date as indicated on your statement.<br />

Example 2: Full payment is not received by the due date<br />

Account is approved on 3rd December 2007 and begins first statement period with<br />

$0.00 balance.<br />

December Statement<br />

Statement Period 3 December 2007 – 2 January 2008<br />

Summary of Charges<br />

Opening Balance $0.00<br />

Payments & Credits $0.00<br />

Purchases $48.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance<br />

Payment Summary<br />

$48.00 Dr<br />

Closing Balance $48.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/01/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE<br />

Transaction Summary<br />

$0.00<br />

Date Detail Amount Balance<br />

03/12/2007 OPENING BALANCE $0.00 Dr<br />

06/12/2007 GROCERIES $15.00 $15.00<br />

24/12/2007 GIFTS $33.00 $48.00<br />

End of statement<br />

The above transactions are interest-free for this statement if the full closing<br />

balance for this statement is received by the payment due date.<br />

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Example 2: Full payment is not received by the due date (continued)<br />

January Statement<br />

Statement Period 3 January 2008 – 2 February 2008<br />

Summary of Charges<br />

Opening Balance $48.00<br />

Payments & Credits -$20.00<br />

Purchases $80.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $1.36<br />

Closing Balance $109.36 Dr<br />

Payment Summary<br />

Closing Balance $109.36<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/02/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/01/2008 OPENING BALANCE $48.00 Dr<br />

27/01/2008 PETROL $35.00 $83.00<br />

28/01/2008 PAYMENT -$20.00 $63.00<br />

28/01/2008 ENTERTAINMENT $25.00 $88.00<br />

29/01/2008 RESTAURANT $20.00 $108.00<br />

02/02/2008 <strong>INTEREST</strong> ON PURCHASES $1.36 $109.36<br />

End of statement<br />

Example 2: Full payment is not received by the due date (continued)<br />

Aggregated Balances for December<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

06/12/2007 GROCERIES $15.00 $15.00 28 $420.00<br />

24/12/2007 GIFTS $33.00 $48.00 10 $330.00<br />

TOTAL $750.00<br />

Interest charged = Aggregated Balance (750) X Daily Rate (0.051918%) = $0.39<br />

Full closing balance for the previous statement is not received by the due date.<br />

Interest is charged on the outstanding balance for each day of the period.<br />

Aggregated Balances for January<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

03/01/2008 OPENING<br />

BALANCE<br />

$48.00 $48.00 31 $1,488.00<br />

27/01/2008 PETROL $35.00 $83.00 7 $245.00<br />

28/01/2008 PAYMENT -$20.00 $63.00 6 -$120.00<br />

28/01/2008 ENTERTAIN-<br />

MENT<br />

$25.00 $88.00 6 $150.00<br />

29/01/2008 RESTAURANT $20.00 $108.00 5 $100.00<br />

TOTAL $1,863.00<br />

Interest charged = Aggregated Balance (1863) X Daily Rate (0.051918%) = $0.97<br />

Full closing balance is not received for the previous statement. The transactions<br />

within this statement are no longer entitled to the up to 55 days interest fee offer.<br />

* No. of Days is the number of days from the day of the transaction to the end of<br />

the statement period.<br />

** Aggregated Balance is a daily aggregate calculated by multiplying the amount<br />

by the No. of Days. This figure is totalled to determine the aggregated balance<br />

for the statement period.<br />

In this example, the interest rate is 18.95%pa<br />

10 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 11


Example 2: Full payment is not received by the due date (continued)<br />

February Statement<br />

Statement Period 3 February 2008 – 2 March 2008<br />

Summary of Charges<br />

Opening Balance $109.36<br />

Payments & Credits -$109.36<br />

Purchases $75.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $1.36<br />

Closing Balance $76.36 Dr<br />

Payment Summary<br />

Closing Balance $76.36<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/03/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/02/2008 OPENING BALANCE $109.36 Dr<br />

27/02/2008 PAYMENT -$109.36 $0.00<br />

28/02/2008 INSURANCE $50.00 $50.00<br />

01/03/2008 PETROL $25.00 $75.00<br />

02/03/2008 <strong>INTEREST</strong> ON PURCHASES $1.36 $76.36<br />

End of statement<br />

Aggregated Balances for February Statement<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

03/02/2008 OPENING $109.36 $109.36 29 $3,171.34<br />

BALANCE<br />

27/02/2008 PAYMENT -$109.36 $0.00 5 -$546.78<br />

TOTAL $2,624.56<br />

Interest charged = Aggregated Balance (2624.56) X Daily Rate (0.051918%) = $1.36<br />

Full closing balance for the previous statement is received by the payment due<br />

date. Interest is charged only on the outstanding balance up to the day before the<br />

payment is received.<br />

Example 2: Full payment is not received by the due date (continued)<br />

March Statement<br />

Statement Period 3 March 2008 – 2 April 2008<br />

Summary of Charges<br />

Opening Balance $76.36<br />

Payments & Credits -$76.36<br />

Purchases $226.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $226.00 Dr<br />

Payment Summary<br />

Closing Balance $226.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/04/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/03/2008 OPENING BALANCE $76.36 Dr<br />

23/03/2008 GROCERIES $80.00 $156.36<br />

26/03/2008 PAYMENT -$76.36 $80.00<br />

01/04/2008 RESTAURANT $90.00 $170.00<br />

01/04/2008 PETROL $56.00 $226.00<br />

End of statement<br />

Full closing balance for the previous statement is received by the payment<br />

due date. Interest is not charged to the account.<br />

12 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 13


How does my account return to<br />

interest free status?<br />

Once interest has been charged on any purchases, you are no longer eligible for<br />

interest free days until payment has been received for the full outstanding balance.<br />

When the total balance, and not the statement balance, has been cleared, you will<br />

receive up to 55 days interest free on any new purchases made.<br />

If you have unpaid balances from previous statement periods, and are making<br />

payment for the closing balance on your statement, you will not be eligible for<br />

interest-free days until you have paid your closing balance in full for two consecutive<br />

statement periods.<br />

A final interest charge will still appear on your last statement. Interest will be<br />

calculated on any outstanding balance from the beginning of the statement period<br />

until the date the full payment was received.<br />

In the previous example, full payment is made in the February statement period.<br />

There is no outstanding balance as at 27th February, so the account returns to<br />

interest free status. There is a final interest charge in February which is calculated as<br />

the outstanding balance until this payment was received. No interest is charged in the<br />

following statement period.<br />

What is an introductory offer?<br />

When you opened your credit card account, you may have received an introductory<br />

offer on a balance transfer (also known as a special promotion).<br />

As this introductory period is calculated from your account approval date, the expiry<br />

date will differ from your payment due date. Interest may be calculated on any<br />

outstanding balance from this expiry date. Please contact us if you are unsure of the<br />

expiry date of your offer.<br />

You are still required to make the minimum repayments that appear on your<br />

statement during the introductory period.<br />

Please refer to your letter of offer for more information relating to any offer you<br />

have received.<br />

When is interest charged during the<br />

introductory period?<br />

During an introductory offer of 0% interest on balance transfers, interest will be<br />

charged on the annual fee and any purchases unless the statement balance is paid<br />

in full as indicated on your statement following the balance transfer request. Any<br />

payments made during this period will repay the balance transfer amount before<br />

purchases, cash advances and other fees and charges (excluding interest), until this<br />

balance transfer has been fully repaid. Please refer to page 4 for more information<br />

about how payments are allocated.<br />

Example 3: Full payment is received prior to the end of the introductory period –<br />

0% for 4 months BT<br />

Account is approved on 3rd December 2007 and begins first statement period with<br />

$0.00 balance.<br />

December Statement<br />

Statement Period 3 December 2007 – 2 January 2008<br />

Summary of Charges<br />

Balance from previous statement $0.00<br />

Payments & Credits $0.00<br />

Balance Transfers $1,000.00 Dr<br />

Annual Fee $200.00<br />

Interest & Other Charges $0.00<br />

Closing Balance<br />

Payment Summary<br />

$1,200.00 Dr<br />

Closing Balance $1,200.00<br />

Minimum Payment Due $24.00<br />

Minimum Payment Due Date 27/01/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE<br />

Transaction Summary<br />

$0.00<br />

Date Detail Amount Balance<br />

03/12/2007 OPENING BALANCE $0.00<br />

04/12/2007 ANNUAL FEE $200.00 $200.00<br />

06/12/2007 BALANCE TRANSFER $1,000.00 $1,200.00<br />

End of statement<br />

Account approved 3rd December 2007 and requested Balance Transfer (0% for<br />

4 months) on 6th December 2007.<br />

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Example 3: Full payment is received prior to the end of the introductory period –<br />

0% for 4 months BT (continued)<br />

January Statement<br />

Statement Period 3 January 2008 – 2 February 2008<br />

Summary of Charges<br />

Balance from previous statement $1,200.00<br />

Payments & Credits -$24.00<br />

Purchases $0.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $6.34 `<br />

Closing Balance $1,182.34 Dr<br />

Payment Summary<br />

Closing Balance $1,182.34<br />

Minimum Payment Due $24.00<br />

Minimum Payment Due Date 27/02/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/01/2008 OPENING BALANCE $1,200.00 Dr<br />

26/01/2008 PAYMENT -$24.00 $1,176.00<br />

02/02/2008 <strong>INTEREST</strong> – PURCHASES $6.34 $1,182.34<br />

End of statement<br />

Minimum payment is received and account still within Introductory offer.<br />

Example 3: Full payment is received prior to the end of the introductory period –<br />

0% for 4 months BT (continued)<br />

Aggregated Balances for December<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

04/12/2007 ANNUAL FEE $200.00 $200.00 30 $6,000.00<br />

TOTAL $6,000.00<br />

Interest charged = Aggregated Balance (6000) X Daily Rate (0.051918%) = $3.12<br />

Aggregated Balances for January<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

03/01/2008 OPENING $200.00 $200.00 31 $6,200.00<br />

BALANCE<br />

TOTAL $6,200.00<br />

Interest charged = Aggregated Balance (6200) X Daily Rate (0.051918%) = $3.22<br />

The payment on $24.00 is applied to the BT balance. Interest is charged on<br />

Annual Fee for the month, December and January.<br />

* No. of Days is the number of days from the day of the transaction to the end of<br />

the statement period.<br />

** Aggregated Balance is a daily aggregate calculated by multiplying the amount<br />

by the No. of Days. This figure is totalled to determine the aggregated balance<br />

for the statement period.<br />

In this example, the interest rate is 18.95%pa<br />

16 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 17


Example 3: Full payment is received prior to the end of the introductory period –<br />

0% for 4 months BT (continued)<br />

February Statement<br />

Statement Period 3 February 2008 – 2 March 2008<br />

Summary of Charges<br />

Opening Balance $1,182.34<br />

Payments & Credits -$24.00<br />

Purchases $0.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $1,161.35 Dr<br />

Payment Summary<br />

Closing Balance $1,161.35<br />

Minimum Payment Due $24.00<br />

Minimum Payment Due Date 27/03/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/02/2008 OPENING BALANCE $1,182.34 Dr<br />

27/02/2008 PAYMENT -$24.00 $1,158.34<br />

02/03/2008 <strong>INTEREST</strong> – PURCHASES $3.01 $1,161.35<br />

End of statement<br />

Minimum payment is received and account still within Introductory offer.<br />

Aggregated Balances for February<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

03/02/2008 OPENING $200.00 $200.00 29 $5,800.00<br />

BALANCE TOTAL $5,800.00<br />

Interest charged = Aggregated Balance (5800) X Daily Rate (0.051918%) = $3.01<br />

The payment on $24.00 is applied to the BT balance. Interest is charged on<br />

Annual Fee and any associated interest until the full Balance Transfer balance is<br />

paid off.<br />

Example 3: Full payment is received prior to the end of the introductory period –<br />

0% for 4 months BT (continued)<br />

March Statement<br />

Statement Period 3 March 2008 – 2 April 2008<br />

Summary of Charges<br />

Opening Balance $1,161.35<br />

Payments & Credits -$1,161.35<br />

Purchases $162.06 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $3.22<br />

Closing Balance $165.28 Dr<br />

Payment Summary<br />

Closing Balance $165.28<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/04/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/03/2008 OPENING BALANCE $1,161.35<br />

10/03/2008 GROCERIES $53.83 $1,215.18 Dr<br />

15/03/2008 ENTERTAINMENT $108.23 $1,323.41<br />

27/03/2008 PAYMENT -$24.00 $1,299.41<br />

01/04/2008 PAYMENT -$1,137.35 $162.06<br />

02/04/2008 <strong>INTEREST</strong> – PURCHASES $3.22 $165.28<br />

End of statement<br />

Minimum payment is made on 27/03/2008 and full closing balance is received<br />

before the introductory offer end date. Offer end date is 02/04/2008 (4 months<br />

from account approval date on 3rd December 2007).<br />

Aggregated Balances for March<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

03/03/2008 OPENING $200.00 $200.00 31 $6,200.00<br />

BALANCE TOTAL $6,200.00<br />

Interest charged = Aggregated Balance (6200) X Daily Rate (0.051918%) = $3.22<br />

Payment is received for the full balance. Interest is charged only on Annual Fee<br />

and any associated interest.<br />

18 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 19


Example 3: Full payment is received prior to the end of the introductory period –<br />

0% for 4 months BT (continued)<br />

April Statement<br />

Statement Period 3 April 2008 – 2 May 2008<br />

Your Account Summary<br />

Opening Balance $165.28<br />

Payments and other credits -$165.28<br />

Purchases $138.90 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $138.90 Dr<br />

Payment Summary<br />

Closing Balance $138.90<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/05/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/04/2008 OPENING BALANCE $165.28 Dr<br />

13/04/2008 RESTAURANT $100.00 $265.28<br />

25/04/2008 PAYMENT -$165.28 $100.00<br />

01/05/2008 PETROL $38.90 $138.90<br />

End of statement<br />

Full closing balance of previous statement was received.<br />

No interest is charged.<br />

How is interest charged when the introductory<br />

offer expires?<br />

This introductory interest rate applies from the date your account was approved, as<br />

indicated on your letter of offer you received with your Card. During your introductory<br />

period, interest will be calculated at the promotional rate. Minimum payment, as<br />

indicated on your monthly statement, is still required during this period.<br />

In the previous example the account is approved on 3rd December 2007 with<br />

an introductory offer of 4 months. This offer will then expire on 2nd April 2008.<br />

Interest will be charged on the full outstanding balance from the start of the next<br />

statement cycle on the 3rd April 2008. You can find out your outstanding balance<br />

at any time by logging into MyCards, our internet banking website.<br />

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Example 4: Full payment is not received prior to the end of the introductory<br />

period – 0% for 4 months BT<br />

Account is approved on 3rd December 2007 and begins first statement period with<br />

$0.00 balance.<br />

December Statement<br />

Statement Period 3 December 2007 – 2 January 2008<br />

Summary of Charges<br />

Opening Balance $0.00<br />

Payments & Credits -$0.00<br />

Balance Transfers $1,000.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $1,000.00 Dr<br />

Payment Summary<br />

Closing Balance $1,000.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/01/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/12/2007 OPENING BALANCE $0.00<br />

06/12/2007 BALANCE TRANSFER $1,000.00 $1,000.00<br />

End of statement<br />

Account approved 3rd December 2007 and requested Balance Transfer<br />

(0% for 4 months) on 6th December 2007.<br />

Example 4: Full payment is not received prior to the end of the introductory<br />

period – 0% for 4 months BT (continued)<br />

January Statement<br />

Statement Period 3 January 2008 – 2 February 2008<br />

Summary of Charges<br />

Opening Balance $1,000.00<br />

Payments & Credits -$20.00<br />

Purchases $0.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $980.00 Dr<br />

Payment Summary<br />

Closing Balance $980.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/02/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/01/2008 OPENING BALANCE $1,000.00 Dr<br />

27/01/2008 PAYMENT -$20.00 $980.00<br />

End of statement<br />

Minimum payment is received and the account is still within an<br />

introductory offer.<br />

22 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 23


Example 4: Full payment is not received prior to the end of the introductory<br />

period – 0% for 4 months BT (continued)<br />

February Statement<br />

Statement Period 3 February 2008 – 2 March 2008<br />

Summary of Charges<br />

Opening Balance $980.00<br />

Payments & Credits -$20.00<br />

Purchases $0.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $960.00 Dr<br />

Payment Summary<br />

Closing Balance $960.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/03/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/02/2008 OPENING BALANCE $980.00 Dr<br />

27/02/2008 PAYMENT -$20.00 $960.00<br />

End of statement<br />

Minimum payment is received and the account is still within an<br />

introductory offer.<br />

Example 4: Full payment is not received prior to the end of the introductory<br />

period – 0% for 4 months BT (continued)<br />

March Statement<br />

Statement Period 3 March 2008 – 2 April 2008<br />

Summary of Charges<br />

Opening Balance $960.00<br />

Payments & Credits -$20.00<br />

Purchases $0.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $0.00<br />

Closing Balance $940.00 Dr<br />

Payment Summary<br />

Closing Balance $940.00<br />

Minimum Payment Due $20.00<br />

Minimum Payment Due Date 27/04/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/03/2008 OPENING BALANCE $960.00 Dr<br />

27/03/2008 PAYMENT -$20.00 $940.00<br />

End of statement<br />

Minimum payment is received and the account is still within an<br />

introductory offer.<br />

24 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 25


Example 4: Full payment is not received prior to the end of the introductory<br />

period – 0% for 4 months BT (continued)<br />

April Statement<br />

Statement Period 3 April 2008 – 2 May 2008<br />

Summary of Charges<br />

Opening Balance $940.00<br />

Payments & Credits -$940.00<br />

Purchases $0.00 Dr<br />

Cash Advances $0.00<br />

Interest & Other Charges $4.39<br />

Closing Balance $4.39 Dr<br />

Payment Summary<br />

Closing Balance $4.39<br />

Minimum Payment Due $4.39<br />

Minimum Payment Due Date 27/05/08<br />

Overlimit Amount NOW DUE $0.00<br />

Overdue Amount NOW DUE $0.00<br />

Transaction Summary<br />

Date Detail Amount Balance<br />

03/04/2008 OPENING BALANCE $940.00 Dr<br />

12/04/2008 PAYMENT -$940.00 $0.00<br />

02/05/2008 <strong>INTEREST</strong> $4.39 $4.39<br />

End of statement<br />

Aggregated Balances for April<br />

Date Detail Amount Balance No. of Aggregated<br />

Days* Bal**<br />

03/04/2008 OPENING $940.00 $940.00 30 $28,200.00<br />

BALANCE<br />

12/04/2008 PAYMENT -$940.00 $0.00 21 -$19,740.00<br />

TOTAL $8,460.00<br />

Interest charged = Aggregated Balance (8460) X Daily Rate (0.051918%) = $4.39<br />

Outstanding Balance Transfer amount is not paid in full by the Balance Transfer<br />

expiry date on 2nd April 2008 (4 months from the account approval date). Interest<br />

is charged to the account. In this example, the interest rate is 18.95%p.a.<br />

For details on how to return the account to an interest free state, please refer<br />

to example #2 of this brochure.<br />

Suggested tips for avoiding additional fees<br />

1. Pay your minimum payment by the due date as indicated on your statement.<br />

2. Set up a direct debit to avoid making a late payment.<br />

n To set up a direct debit facility on your account, complete a Direct Debit<br />

Request Form available on MyCards or by contacting us. You can select to<br />

either have the minimum payment, full statement balance, or a fixed amount<br />

debited from your nominated account.<br />

3. Monitor your transactions and available credit using MyCards.<br />

n Access MyCards, our internet banking website at xxxxxxxxxxx using your<br />

Access Code and internet banking password.<br />

Please contact us if you require your Access Code or internet banking password<br />

to access self service banking facilities.<br />

4. Ensure your credit card limit is manageable for your financial situation. If you have<br />

any concerns, please contact us.<br />

5. Ensure you have read your account terms and conditions.<br />

26 | <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> <strong>UNDERSTANDING</strong> <strong>INTEREST</strong> | 27


For more information, or to request a copy of<br />

your account terms and conditions, please do not<br />

hesitate to contact us on 1300 150 100.<br />

Contact us on 1300 150 100 or jetstar@cardserve.com.au<br />

BKL0269 08/09

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