Dow Credit Union is providing the following information to you pursuant to federal law. Please review prior to your application. This page may be printed and retained for future reference.
Rewards, Rebate Eligible, and Low Rate Visa® Credit Card Disclosures
INTEREST RATES AND INTEREST CHARGES | Rewards VISA | Rebate Eligible VISA | Low Rate |
Annual Percentage Rate
| 14.49% After that, your APR will vary with the market based on the Prime Rate. | 13.49% After that, your APR will vary with the market based on the Prime Rate. | 11.49% After that, your APR will vary with the market based on the Prime Rate. |
APR for Balance Transfers | 14.49% After that, your APR will vary with the market based on the Prime Rate. | *3.90% Introductory APR for the first 15 billing cycles after account opening, on transfers initiated within 90 days of card opening.
After the introductory APR expires, a variable APR applies to unpaid promotional balances, new purchases and new balance transfers. The APR will vary with the market based on the Prime Rate.
| ** 0.00% Introductory APR for the first 15 billing cycles after account opening, on transfers initiated within 90 days of card opening. After the introductory APR expires, a variable APR applies to unpaid promotional balances, new purchases and new balance transfers. The APR will vary with the market based on the Prime Rate. |
APR for Cash Advances | 14.49% After that, your APR will vary with the market based on the Prime Rate. | 13.49% After that, your APR will vary with the market based on the Prime Rate. | 11.49% After that, 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 you any interest on purchases if you pay your entire balance by the due date each month. | ||
Minimum Interest Charge | None | ||
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 Fee | None |
Balance Transfer Fees | Rewards Visa: None *Rebate Eligible Visa: None **Low Rate Visa: Introductory Balance Transfers (transfers made within the first 90 days of account opening) have a Balance Transfer fee of the greater of $25 or 3% of the amount of the balance transfer. |
Transaction Fees • Cash Advance • International Transaction |
None None |
Penalty Fees • Late Payment • Over-the-Credit-Limit • Returned Payment Charge |
Up to $25.00 None Up to $25.00 |
Other Fees • Statement Copy Fee • 2-Day Rush Card Fee • Instant Reissue Card • Payment by Phone Fee |
$ 0.20 per page $30.00 $ 5.00 $ 5.00 |
How We Will Calculate Your Balance: We use a method called "Average Daily Balance (excluding new purchases)".
How Do You Calculate My Variable Rates? Variable Rates are calculated by adding an index and a margin. The index is the highest U.S. Prime Rate (hereafter Prime) published in the Wall Street Journal "Money Rates" section on the 13th day of each month. If the Wall Street Journal is not published on that day, then we will use the immediately preceding edition. Any increase in the Prime Rate may increase your Interest Charges and your Minimum Payment. The rate on any transaction type will not exceed 24.99% APR. Variable rates on the following transaction types will be updated monthly and will take effect on the first day of your monthly billing periods:
- Purchase APR: Prime plus 3.74% for Low Rate Visa, Prime plus 5.74% for Rebate Eligible Visa, or Prime plus 6.74% for Rewards Visa;
- Non-Introductory Transfer APR: Prime plus 3.74% for Low Rate Visa, Prime plus 5.74% for Rebate Eligible Visa, or Prime plus 6.74% for Rewards Visa;
- Cash Advance APR: Prime plus 3.74% for Low Rate Visa, Prime plus 5.74% for Rebate Eligible Visa, or Prime plus 6.74% for Rewards Visa.
How Do You Determine My Credit Line? We will determine your credit line after a review of your application and your ability to pay.
Military Lending Act Disclosures
Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums, fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account).