VISA Credit Cards

NOTICE:  Due to a change made by our credit card processor, the interest rate calculation for cash advances will be changing. THE INTEREST RATE METHOD FOR PURCHASES WILL NOT BE IMPACTED. Effective September 17, 2021, the following methodology will be in place:

INTEREST AND FINANCE CHARGES — We will begin charging You interest on new purchases on the first day of the following billing cycle. We will begin charging You interest on cash advances and balance transfers on the date of the transaction or the first day of the billing cycle in which the transaction is posted to Your Account, whichever is later (transaction date). However, We will not charge You any interest on new purchases if You paid the entire new balance on the previous cycle’s billing statement by the Payment Due Date of that statement.

How We Calculate Your Balance:

Interest charges on Your Account are calculated separately for purchases, balance transfers and cash advances (“Transaction Type”). We figure the interest charge for each Transaction Type by applying the periodic rate to each corresponding “average daily balance.” To get the “average daily balance” for a Transaction Type We take the beginning balance for that Transaction Type each day, add any new transactions of that type (excluding new purchases), and subtract any unpaid interest or other finance charges and any applicable payments or credits. This gives Us the daily balance for each Transaction Type. Then, for each Transaction Type, We add up all the daily balances for the billing cycle and divide each total by the number of days in the billing cycle. This gives Us the “average daily balance” for each Transaction Type.