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)
April Statement
Statement Period 3 April 2008 – 2 May 2008
Summary of Charges
Opening Balance $940.00
Payments & Credits -$940.00
Purchases $0.00 Dr
Cash Advances $0.00
Interest & Other Charges $4.39
Closing Balance $4.39 Dr
Payment Summary
Closing Balance $4.39
Minimum Payment Due $4.39
Minimum Payment Due Date 27/05/08
Overlimit Amount NOW DUE $0.00
Overdue Amount NOW DUE $0.00
Transaction Summary
Date Detail Amount Balance
03/04/2008 OPENING BALANCE $940.00 Dr
12/04/2008 PAYMENT -$940.00 $0.00
02/05/2008 INTEREST $4.39 $4.39
End of statement
Aggregated Balances for April
Date Detail Amount Balance No. of Aggregated
Days* Bal**
03/04/2008 OPENING $940.00 $940.00 30 $28,200.00
BALANCE
12/04/2008 PAYMENT -$940.00 $0.00 21 -$19,740.00
TOTAL $8,460.00
Interest charged = Aggregated Balance (8460) X Daily Rate (0.051918%) = $4.39
Outstanding Balance Transfer amount is not paid in full by the Balance Transfer
expiry date on 2nd April 2008 (4 months from the account approval date). Interest
is charged to the account. In this example, the interest rate is 18.95%p.a.
For details on how to return the account to an interest free state, please refer
to example #2 of this brochure.
Suggested tips for avoiding additional fees
1. Pay your minimum payment by the due date as indicated on your statement.
2. Set up a direct debit to avoid making a late payment.
n To set up a direct debit facility on your account, complete a Direct Debit
Request Form available on MyCards or by contacting us. You can select to
either have the minimum payment, full statement balance, or a fixed amount
debited from your nominated account.
3. Monitor your transactions and available credit using MyCards.
n Access MyCards, our internet banking website at xxxxxxxxxxx using your
Access Code and internet banking password.
Please contact us if you require your Access Code or internet banking password
to access self service banking facilities.
4. Ensure your credit card limit is manageable for your financial situation. If you have
any concerns, please contact us.
5. Ensure you have read your account terms and conditions.
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