CARD SERVICES UNDERSTANDING INTEREST

Example 4: Full payment is not received prior to the end of the introductory
period – 0% for 4 months BT (continued)
February Statement
Statement Period 3 February 2008 – 2 March 2008
Summary of Charges
Opening Balance $980.00
Payments & Credits -$20.00
Purchases $0.00 Dr
Cash Advances $0.00
Interest & Other Charges $0.00
Closing Balance $960.00 Dr
Payment Summary
Closing Balance $960.00
Minimum Payment Due $20.00
Minimum Payment Due Date 27/03/08
Overlimit Amount NOW DUE $0.00
Overdue Amount NOW DUE $0.00
Transaction Summary
Date Detail Amount Balance
03/02/2008 OPENING BALANCE $980.00 Dr
27/02/2008 PAYMENT -$20.00 $960.00
End of statement
Minimum payment is received and the account is still within an
introductory offer.
Example 4: Full payment is not received prior to the end of the introductory
period – 0% for 4 months BT (continued)
March Statement
Statement Period 3 March 2008 – 2 April 2008
Summary of Charges
Opening Balance $960.00
Payments & Credits -$20.00
Purchases $0.00 Dr
Cash Advances $0.00
Interest & Other Charges $0.00
Closing Balance $940.00 Dr
Payment Summary
Closing Balance $940.00
Minimum Payment Due $20.00
Minimum Payment Due Date 27/04/08
Overlimit Amount NOW DUE $0.00
Overdue Amount NOW DUE $0.00
Transaction Summary
Date Detail Amount Balance
03/03/2008 OPENING BALANCE $960.00 Dr
27/03/2008 PAYMENT -$20.00 $940.00
End of statement
Minimum payment is received and the account is still within an
introductory offer.
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