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If only the minimum payment shown in the EscrowCard statement is paid promptly, what are the finance charges?

April 26, 2017Charges escrowcard Finance minimum paid payment promptly

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If only the minimum payment shown in the EscrowCard statement is paid promptly, what are the finance charges?

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EscrowCard will charge a “Finance Charge” equal to an annual percentage rate (“APR”) of eighteen percent (18.00%) on any balances which remains unpaid after the Grace Period for Repayment. The minimum Finance Charge is fifty cents ($.50) for any balance on which a Finance Charge is due.