Master Card Rates Disclosure

ERIE METRO FCU – Disclosure Table of Credit Card Interest Rates, Charges and Fees

Annual Percentage Rate (APR) for Purchase

8.99 % - 11.99%

Standard APR based on your creditworthiness.

APR for Balance Transfers

8.99 % - 11.99%

Standard APR based on your creditworthiness.

APR for Cash Advances

8.99 %- 11.99%

Standard APR based on your creditworthiness.

Penalty APR and When it Applies

 

17.90 %

The credit account will be considered in default when a 3rd late payment of at least 30 days occurs within 1 consecutive 6-month period. If in default, the interest rate will be 18.00%. You will continue to be billed at the default rate until your monthly payments have been made on time 6 consecutive months. Should that occur, you must contact the credit union to request your rate be re-set to 8.99%.

How to Avoid Paying Interest on Purchases

Your due date is at least 25 days after close of each billing cycle. We will not charge you interest on purchases if you pay entire balance by the due date each month.

Minimum Interest Charge

If you are charged periodic interest, the charge will be no less than 3.50% or $10.00 whichever is greater.

For Credit Card Tips from the Consumer Financial Protection Bureau

To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore

FEES

Annual Fees

N/A

Transaction Fees

•     Balance Transfer

•     Cash Advance

•     Foreign Fees

 

•     Additional Cards

 

N/A

N/A

0.8% of transaction amount on foreign transactions in U.S. dollars, plus the exchange rate adjustment as discussed in your Credit Card Agreement and Disclosures.

$10.00 for each additional card requested.

Penalty Fees

•     Late Payment

•     Over-the-Credit-Line

•     Returned Payment

 

Up to $27.50

N/A

Up to $27.50

 

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases)”. An explanation of this method is provided in your account agreement.

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

Others: Your APR was determined based on credit history. To meet the criteria for the APR of 8.99%, there can be no more than 3 late payments of at least 30 days each or a single late payment of 60 days within 1 consecutive 6-month period. The credit account will be considered in default when a 3rd late payment of 30 days occurs within 1 consecutive 6-month period. If in default, the interest rate will be 18.00%. You will continue to be billed at the default rate until your monthly payments have been made on time 6 consecutive months. Should that occur, you must contact the credit union to request your rate be re-set to 8.99%.

Erie Metro FCU- Credit Card Agreement and Disclosures