|
APR |
| The Annual
Percentage Rate is a measure of the cost of credit
expressed as a yearly rate including interest balance
transfer and cash advance fees. When you open a credit
card account, you agree to pay a percentage of the
outstanding balance each month as a finance charge. |
|
Available
Credit |
| Available
credit, as displayed on the billing statement, is your
credit limited minus your current balance and any
authorized charges that have not been billed. It is the
unused portion of your credit line. |
|
Available Daily
Balance |
| The average
daily balance is a common way for card issuers to
calculate finance charges. The card company finds the
balance each day of the billing period, adds the daily
balances together and divides by the number of days in the
period. The calculation includes new purchases and
payments. You should refer to your credit card issuer’s
Card member Agreement for specific information and details
regarding the calculations of the Average Daily Balance. |
|
Billing Errors
and Merchant Disputes |
| If you believe a billing
error has occurred, call Customer Service or complete the
Notification of Disputed Item form. Print the form, sign,
and mail it. If you have a dispute with a merchant
regarding the property of services purchases with the
credit card, contact the merchant and try to resolve the
issue. If an agreement cannot be reached to your
satisfaction, call Customer Service or complete the
Notification of disputed Item Form. |
|
Cash Advances |
| A cash withdrawal at an
automated teller machine, bank teller, or by use of a
convenience check.. This cash is an instant loan from your
credit card account. The card company will apply finance
charges from the day you take the advance until the day
you pay it off. A transaction fee may also be charged
based on the amount of your withdrawal. Other
transactions, which may be considered cash advances,
include gaming activities and some balance transfers.
Check with your issuer. |
|
Credit Line |
| The maximum amount you
can borrow at any time. You can request a change in your
credit line and may be eligible for an increase if you
make timely payments and do not exceed your available
credit. |
|
Customer
Service Phone Numbers |
| General
Information/Balances 800-542-5004
Lost/Stolen Card 800-423-7503 |
|
Daily Periodic
Rate |
| The interest
rate factor used to calculate the interest charges on a
daily basis. The factor is computed by dividing the yearly
rate by 365 days. (Some creditors may use 360 days.) |
|
Finance Charges |
| The cost of
consumer credit expressed as a dollar amount. It includes
any charges, such as interest and fees, paid by the
consumer to the creditor for obtaining a loan. |
|
Grace Period |
| The date by
which, or the period within which, any credit extended for
purchases may be repaid without incurring a finance
charge. Please see the Card member Agreement for details.
Cash Advances, Convenience Check transactions, and balance
transfers are charged interest from the date of the
transaction until the date it is repaid in full. |
|
Methods of
Payment |
| Payments on
First Bremen bank credit cards can be made by mail, in
person, by ACH transfer, or online at mycardstatement.com. |
|
Minimum Payment |
| You must
make a Minimum Payment in each Billing Cycle in which you
have a new balance on your account. Classic Card is 2.5%
of the outstanding balance or $10, whichever is greater.
The Gold Card is 1.5% of the outstanding balance or $50,
whichever is greater. |
|
Past Due Date |
| Any unpaid
Minimum Payment from prior statements. |
|
Payment Due
Date |
| The date
your Payment must reach the lender to avoid late fee
charges. Please refer to the back of your billing
statement for "Important Instructions for Making
Payments." |
| |
