Visa Credit Cards
Visa Secured and Unsecured Credit Card Disclosure
SUMMARY OF CREDIT TERMS
|
Interest Rates and Interest Charges |
| Annual Percentage Rate (APR) for Purchases |
9.99%1
Your APR will vary with the market based on the Prime Rate.
|
| APR for Balance Transfers |
9.99%1
Your APR will vary with the market based on the Prime Rate. |
| APR for Cash Advances |
11.25%2
Your APR will vary with the market based on the Prime Rate. |
| How to Avoid Paying Interest on Purchases |
Your due date is at least 25 days after the close of each billing cycle. We will not charge your interest on purchases if you pay your entire balance by the due date each month. |
| Collateral Security |
If you receive a secured VISA card, your account will be secured by the pledge of a deposit account with the Bank having a balance equal at all times to your line of credit. |
| For Credit Card Tips from the Federal Reserve Board |
To learn more about factors to consider when applying for or using a credit card, visit the website of the Federal Reserve Board at http://www.federalreserve.gov/creditcard. |
| Fees |
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Annual Fee
|
Visa Secured: None
Visa & Visa Gold Card: None
Visa & Visa Gold Scorecard: $15 |
|
Transaction Fees
- Balance Transfer
- Cash Advance Fee
- Foreign Transaction
|
None
2% ($2 min. to $10 max.)
1.00% of the U.S. dollar amount of the transaction converted
from a foreign currency and 0.80% for foreign transactions where
a currency conversion is not performed. |
|
Penalty Fees
- Late Payment
- Over-the-Credit Limit
- Returned Payment
|
$203
$254
$25
|
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Other Fees
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$25/hour
$3/copy |
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How
We Will Calculate Your Balance: We use a method
called average daily balance (including new
purchases)5
1 Your Annual Percentage Rate (APR) may vary. For purchases and balance
transfers, the APR, adjustable quarterly, is a
variable rate based on the highest prime rate
published in the Money Rates section of The Wall
Street Journal ("Index") plus a margin of 4.00
percentage points for Visa Cards, currently 9.99%
(.027370% corresponding Daily Periodic Rate) and
rounded to the nearest hundredth divisible by
twelve. However, your APR will not be less than
9.99% or more than 18%.
2 The APR for cash advances for Visa Cards is based
on the Index plus 8.00 percentage points, adjustable
quarterly, with a 9.99% minimum and an 18% maximum.
Based on that formula, the current rate would be
11.25% (.030822% corresponding Daily Periodic Rate)
and rounded to the nearest hundredth divisible by
twelve.
3 Late Payment: If the minimum required
payment is not received within 15 days after the
Closing Date subsequent to the payment Due Date, a
late charge of $20.00 will be imposed.
4 Over-the-Credit Limit Fee: This fee is
applied when a balance is 10% or more over limit.
5 Average Daily Balance (for Purchases and Balance
Transfers). To avoid incurring an additional Finance
Charge on the balance of Purchases and Balance
Transfers reflected on your monthly statement and on
any new Purchases and Balance Transfers appearing on
your next statement, you must pay the New Balance
shown on your monthly statement on or before the
Payment Due Date. The grace period for the New
Balance of Purchases and Balance Transfers extends
to the payment due date. The finance charges for a
billing cycle are computed by applying the monthly
Periodic Rate to the "average daily balance" of
Purchases and Balance Transfers. To get an average
daily balance, we take the beginning balance of your
account each day, add new Purchases and Balance
Transfers, and subtract any payments, credits,
non-accruing fees, and unpaid finance charges that
were applied to the Purchases and Balance Transfers
portion of your account. This gives us the daily
balance. Then we add up all the daily balances for
the billing cycle and divide the total by the number
of days in the billing cycle. This gives us the
average daily balance of Purchases and Balance
Transfers.
Average Daily Balance (for Cash Advances). The
Finance Charge on Cash Advances begins from the date
you obtained the Cash Advance, or the first day of
the billing cycle in which it posted to your
account, whichever is later. There is no grace
period. The Finance Charges for a billing cycle are
computed by applying the monthly Periodic Rate to
the "average daily balance" of cash advances posted
to your account. To get the average daily balance,
we take the beginning balance of your account each
day, add any new Cash Advances, and subtract any
payments, credits, non-accruing fees, and unpaid
finance charges that were applied to the Cash
Advances portion of your account. This gives us the
daily balance. Then we add up all the daily balances
for the billing cycle and divide the total by the
number of days in the billing cycle. This gives us
the average daily balance of Cash Advances.
On the last business day of March, June, September
and December, we determine the Index for the
following quarter. This disclosure is accurate as of
April 2009. Because rates and terms are subject to
change, you may contact us for the current
information by calling us at 888.366.6622 or by
writing us at: American Bank, 4029 W. Tilghman
Street, Allentown, PA 18104.
BLC00001 - BLC00011 - BLC00001
4/09
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