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| Interest Rate and Interest Charges |
TCU* Visa® Commercial Rewards Credit Card Account |
| Annual Percentage Rate (APR) for Purchases |
18.99% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.a
|
| APR for Balance Transfers from another financial institutiond |
18.99% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.a
|
| APR for Cash Advances |
28.99% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.b
|
| Penalty APR and When It Applies |
If you haven’t made a payment sixty five (65) days or more after the due date, we may apply a penalty rate of 29.49% APR.
This penalty rate will apply to both existing and new transactions and will continue indefinitely until you make six (6) consecutive minimum payments by the due date. Once you make six (6) consecutive minimum payments by the due date, we will discontinue the penalty rate and return your rate to the current calculated rate. This current rate will apply to all existing and new transactions.
How Long Will the Penalty APR Apply?: If your APRs are increased for any of these reasons, the Penalty APR will apply until you make six consecutive minimum payments when due and do not exceed your credit limit during that time period.
|
| Paying Interest |
Your due date is at least 25 days after the close of each billing cycle. We will begin charging interest on Purchases, Balance Transfers and Cash Advances on the transaction date. To avoid incurring interest charges, for new purchase transactions, you must pay the new balance which includes purchases, balance transfers and cash advances, as shown on the Account Statement, on or before the payment due date. |
| Minimum Interest Charge |
If you are charged interest, the charge will be no less than 2.00%. |
| For Credit Card Tips from the Consumer Financial Protection Bureau |
To learn more about the factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at: Consumerfinance.gov/learnmore |
Fees
Annual Fee |
None |
| Balance Transfer Fee |
$10 or 2% per transaction, whichever is greater |
Other Fees
|
|
| Late Fees |
IN - $25.00c, MI - greater of $15.00 or 5% of the minimum payment |
| Return Payment Fee |
$25.00 |
| Expedited Delivery Fee |
Up to $26.00 |
Stop Payment Fee
(for balance transfer checks and convenience checks) |
$18.00 |
| Cash Advance Fee |
4% |
| Overlimit Fee |
$25 at 101% |
| Foreign Transaction Fee |
2% each transaction |
How We Calculate Your Balance. We use a method called “average daily balance (including new purchases).
Prime Rate. Variable APRs are based on the 8.00% Prime Rate as of 4/1/2023.
*Must be a member of Teachers Credit Union to be eligible to apply for the Credit Card. Membership fee, to open a Member Share (savings) account is $7.00 membership fee and $5.00 minimum Share deposit is required.
a. We add 10.99% based on your creditworthiness to the current Prime Rate to determine the Purchase APR or Balance Transfer APR.
b. We add 20.99% based on your creditworthiness to the current Prime Rate to determine the Cash Advance APR.
c. You will pay a $25.00 late fee or the maximum allowed by law pursuant to Indiana Code §§ 24-4.5-3-203.5 at the time you exercise your remedies under this contract if a payment is received more than 10 days after it is due. MI-greater of $15.00 or 5% of the minimum payment if a payment is received more than 10 days after it is due.
d. Balance Transfers from another Teachers Credit Union loan account, including THE Card Home Equity Loan, are not permitted on the TCU Visa® Commercial Rewards Credit Card.
Billing Rights. Information on your rights to dispute transactions and how to exercise those rights is provided in your Account Agreement.
Important Information for Rewards Cardholders. You may earn Reward points on your Net Purchase Transactions, which is the amount of your Purchase transactions, less any purchase refunds. Reward points are not earned on Cash Advance, Fees or Balance Transfer transactions. The accrued Reward points will be shown on your monthly billing statement. The Reward points will be available to redeem via by calling 800-552-4745 and follow the prompts. All Rewards will expire four (4) years from the end of the calendar year, in which they are earned on a first-in, first-out basis. Reward points may not be available to all cardholders. We may revoke your Reward points, at any time, if you exceed your credit limit, become delinquent, are in default of your Agreement, or close your Account. Teachers Credit Union reserves the right to change the Reward points program at any time.
See your TCU Visa Commercial Rewards Credit Card Disclosure for more details.
Q201909-1550
TCU Visa Business and Commercial Rewards Disclosure
| Interest Rate and Interest Charges |
TCU* Visa® Business Rewards Credit Card Account |
| Annual Percentage Rate (APR) for Purchases |
18.99% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.a
|
| APR for Balance Transfers from another financial institutiond |
18.99% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.a
|
| APR for Cash Advances |
28.99% based on your creditworthiness.
This APR will vary with the market based on a Prime Rate.b
|
| Penalty APR and When It Applies |
If you haven’t made a payment sixty five (65) days or more after the due date, we may apply a penalty rate of 29.49% APR.
This penalty rate will apply to both existing and new transactions and will continue indefinitely until you make six (6) consecutive minimum payments by the due date. Once you make six (6) consecutive minimum payments by the due date, we will discontinue the penalty rate and return your rate to the current calculated rate. This current rate will apply to all existing and new transactions.
How Long Will the Penalty APR Apply?: If your APRs are increased for any of these reasons, the Penalty APR will apply until you make six consecutive minimum payments when due and do not exceed your credit limit during that time period.
|
| Paying Interest |
Your due date is at least 25 days after the close of each billing cycle. We will begin charging interest on Purchases, Balance Transfers and Cash Advances on the transaction date. To avoid incurring interest charges, for new purchase transactions, you must pay the new balance which includes purchases, balance transfers and cash advances, as shown on the Account Statement, on or before the payment due date. |
| Minimum Interest Charge |
If you are charged interest, the charge will be no less than 2.00%. |
| For Credit Card Tips from the Consumer Financial Protection Bureau |
To learn more about the factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at: Consumerfinance.gov/learnmore |
Fees
Annual Fee |
None |
| Balance Transfer Fee |
$10 or 2% per transaction, whichever is greater |
Other Fees
|
|
| Late Fees |
IN - $25.00c, MI - greater of $15.00 or 5% of the minimum payment |
| Return Payment Fee |
$25.00 |
| Expedited Delivery Fee |
Up to $26.00 |
Stop Payment Fee
(for balance transfer checks and convenience checks) |
$18.00 |
| Cash Advance Fee |
4% |
| Overlimit Fee |
$25 at 101% |
| Foreign Transaction Fee |
2% each transaction |
How We Calculate Your Balance. We use a method called “average daily balance (including new purchases).
Prime Rate. Variable APRs are based on the 8.00% Prime Rate as of 4/1/2023.
*Must be a member of Teachers Credit Union to be eligible to apply for the Credit Card. Membership fee, to open a Member Share (savings) account is $7.00 membership fee and $5.00 minimum Share deposit is required.
a. We add 10.99% based on your creditworthiness to the current Prime Rate to determine the Purchase APR or Balance Transfer APR.
b. We add 20.99% based on your creditworthiness to the current Prime Rate to determine the Cash Advance APR.
c. You will pay a $25.00 late fee or the maximum allowed by law pursuant to Indiana Code §§ 24-4.5-3-203.5 at the time you exercise your remedies under this contract if a payment is received more than 10 days after it is due. MI-greater of $15.00 or 5% of the minimum payment if a payment is received more than 10 days after it is due.
d. Balance Transfers from another Teachers Credit Union loan account, including THE Card Home Equity Loan, are not permitted on the TCU Visa® Commercial Rewards Credit Card.
Billing Rights. Information on your rights to dispute transactions and how to exercise those rights is provided in your Account Agreement.
Important Information for Rewards Cardholders. You may earn Reward points on your Net Purchase Transactions, which is the amount of your Purchase transactions, less any purchase refunds. Reward points are not earned on Cash Advance, Fees or Balance Transfer transactions. The accrued Reward points will be shown on your monthly billing statement. The Reward points will be available to redeem via by calling 800-552-4745 and follow the prompts. All Rewards will expire four (4) years from the end of the calendar year, in which they are earned on a first-in, first-out basis. Reward points may not be available to all cardholders. We may revoke your Reward points, at any time, if you exceed your credit limit, become delinquent, are in default of your Agreement, or close your Account. Teachers Credit Union reserves the right to change the Reward points program at any time.
See your TCU Visa Business Rewards Credit Card Disclosure for more details.
TCU Visa Business and Commercial Rewards Disclosure
TCU Visa Business Rewards Credit Card Account Agreement
201909-1552