If your Minimum Payment is not received on or before the Payment Due Date shown on your statement and before the date on which we prepare your next monthly statement twice within 12 consecutive statement periods, then:

1. The annual interest rate(s) that applies to the Account will increase to the rate set out in your Disclosure Statement; and
2. You will lose the benefit of any lower rate promotional offer on the Account (including any offer made but not yet accepted by you).

The increased rate(s) will apply starting on the first day of your next statement period after the second missed payment. You will continue to pay these higher interest rate(s) until you have paid the Minimum Payment on or before the Payment Due Date shown on your statement and before the date on which we prepare your next monthly statement for 12 consecutive statement periods. The interest rates will then decrease to your annual interest rates applicable to your Account on the first day of your next statement period after those 12 consecutive statement periods.