Annual Percentage Rate for Cash Advances. The ANNUAL PERCENTAGE RATE (“APR”) is variable and may change monthly based on changes in an Index. The Index is the Prime Rate as published in The Wall Street Journal ("Index"). If the Index becomes unavailable during the term of this account, the credit union may substitute a new Index after notice to you. The interest rate will be adjusted on the first day of each billing cycle, based on the most recent Index figure available as the fifth business day of the last month immediately preceding the new billing cycle. If the 5th day falls on a Saturday, Sunday or holiday, we use the Prime Rate published on the next business day. To determine the ANNUAL PERCENTAGE RATE for cash advance transactions, we add a “Margin” of 9.75% to the Index. This gives us the new cash advance transaction APR. There is no limit on the amount the APR may increase at any one time. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate of 18%. The monthly periodic rate of FINANCE CHARGE is 1/12th of the ANNUAL PERCENTAGE RATE. The ANNUAL PERCENTAGE RATE for cash advances may change monthly. An increase in the Prime Rate may increase both the number of minimum monthly payments required to repay the Account balance and the amount of each minimum monthly payment. The Prime Rate as of February 5, 2015 was 3.25%, which results in an ANNUAL PERCENTAGE RATE OF 13.00% for cash advance transactions and a monthly periodic rate of FINANCE CHARGE OF 1.0833%. To find out the current prime rate, visit xxx.xxxxxxxx.xxx/ rates/interest-rates/wall-street-prime-rate.aspx. Finance Charges on Cash Advances. We will charge a Finance Charge on cash advances from the day you take them until the day we receive payment in full as follows: To figure the Finance Charge for a billing cycle, we will apply a monthly periodic rate of Finance Charge to the average daily balance of your cash advance transactions, including current transactions, for the billing cycle. If there is a FINANCE CHARGE due which is less than $1.00, you will be charged a minimum FINANCE CHARGE of $1.00. For each cash advance you obtain, you agree to pay a FINANCE CHARGE in the form of a cash advance transaction fee equal to 1% of the cash advance, not less than $2.00, but not more than $20.00. Effect of Change in the Annual Percentage Rate. The ANNUAL PERCENTAGE RATE (“APR”) is variable and may change monthly based on changes in an Index. The Index is the Prime Rate, as published in The Wall Street Journal ("Index"). If the Index bec...
Annual Percentage Rate for Cash Advances. The ANNUAL PERCENTAGE RATE ("APR") may change every quarter. The index we use is the Prime Rate as published in The Wall Street Journal on the 5th day of the month preceding the change dates ("Index"). If the 5th day falls on a Saturday, Sunday or holiday, we use the Prime Rate published on the next business day. To determine the ANNUAL PERCENTAGE RATE for cash advance transactions, we add a "Margin" of 10.00% to the Index. This gives us the new cash advance transaction APR. If the calculation of the variable ANNUAL PERCENTAGE RATE is less than 13.0% we will use 13.0% as the ANNUAL PERCENTAGE RATE. There is no limit on the amount the APR may increase at any one time. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate of 18%. The monthly periodic rate of FINANCE CHARGE is 1/12th of the ANNUAL PERCENTAGE RATE. The ANNUAL PERCENTAGE RATE for cash advances will be changed once every calendar quarter on these dates: January 1, April 1, July 1 and October 1 ("Change Date"). An increase in the Prime Rate may increase both the number of minimum monthly payments required to repay the Account balance and the amount of each minimum monthly payment. The Prime Rate as of May 15, 2023 was 8.25%, which results in an ANNUAL PERCENTAGE RATE of 18.00% for cash advance transactions and a monthly periodic rate of FINANCE CHARGE of 1.50%.
Annual Percentage Rate for Cash Advances. The ANNUAL PERCENTAGE RATE ("APR") may change every quarter. The index we use is the Prime Rate as published in The Wall Street Journal on the 5th day of the month preceding the change dates ("Index"). If the 5th day falls on a Saturday, Sunday or holiday, we use the Prime Rate published on the next business day. To determine the ANNUAL PERCENTAGE RATE for cash advance transactions, we add a "Margin" of 10.00% to the Index. This gives us the new cash advance transaction APR. If the calculation of the variable ANNUAL PERCENTAGE RATE is less than 13.0% we will use 13.0% as the ANNUAL PERCENTAGE RATE. There is no limit on the amount the APR may increase at any one time. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate of 18%. The monthly periodic rate of FINANCE CHARGE is 1/12th of the ANNUAL PERCENTAGE RATE. The ANNUAL PERCENTAGE RATE for cash advances will be OTHER FEES:
Annual Percentage Rate for Cash Advances. The ANNUAL PERCENTAGE RATE (“APR”) is variable and may change monthly based on changes in an Index. The Index is the Prime Rate as published in The Wall Street Journal (“Index”). If the Index becomes unavailable during the term of this account, the credit union may substitute a new Index after notice to you. The interest rate will be adjusted on the first day of each billing cycle, based on the most recent Index figure available as the fifth business day of the last month immediately preceding the new billing cycle. If the 5th day falls on a Saturday, Sunday or holiday, we use the Prime Rate published on the next business day. To determine the ANNUAL PERCENTAGE RATE for cash advance transactions, we add a “Margin” of 9.75% to the Index. This gives us the new cash advance transaction APR. There is no limit on the amount the APR may increase at any one time. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate of 18%. The monthly periodic rate of FINANCE CHARGE is 1/12th of the ANNUAL PERCENTAGE RATE.
Annual Percentage Rate for Cash Advances. The ANNUAL PERCENTAGE RATE (“APR”) is variable and may change monthly based on changes in an Index. The Index is the Prime Rate as published in The Wall Street Journal ("Index"). If the Index becomes unavailable during the term of this account, the credit union may substitute a new Index after notice to you. The interest rate will be adjusted on the first day of each billing cycle, during the term of this account, the credit union may substitute a new Index after notice to you. The interest rate will be adjusted on the first day of each billing cycle, based on the most recent Index figure available as of the fifth business day of the last month immediately preceding the new billing cycle. Any increase in APR may increase your minimum payment.
Annual Percentage Rate for Cash Advances. The ANNUAL PERCENTAGE RATE (“APR”) may change every quarter. The index we use is the Prime Rate as published in The Wall Street Journal on the 5th day of the month preceding the change dates (“Index”). If the 5th day falls on a Saturday, Sunday or holiday, we VISA® BUSINESS CREDIT CARD AGREEMENT AND DISCLOSURE (Cont.) 2 use the Prime Rate published on the next business day. To determine the ANNUAL PERCENTAGE RATE for cash advance transactions, we add a “Margin” of 7.00% to the Index. This gives us the new cash advance transaction APR. If the calculation of the variable ANNUAL PERCENTAGE RATE is less than 10.0%, we will use 10.0% as the ANNUAL PERCENTAGE RATE. There is no limit on the amount the APR may increase at any one time. The ANNUAL PERCENTAGE RATE will not exceed the maximum rate of 18%. The monthly periodic rate of FINANCE CHARGE is 1/12th of the ANNUAL PERCENTAGE RATE. The ANNUAL PERCENTAGE RATE for cash advances will be changed once every calendar quarter on these dates: January 1, April 1, July 1 and October 1 (“Change Date”). An increase in the Prime Rate may increase both the number of minimum monthly payments required to repay the Account balance and the amount of each minimum monthly payment. The Prime Rate as of November 8, 2024, was 7.75%, which results in an ANNUAL PERCENTAGE RATE of 14.75% for cash advance transactions and a monthly periodic rate of FINANCE CHARGE of 1.23%.
