LATE PAYMENT FEE: $25.00
OVER THE LIMIT FEE: $25.00
RETURNED CHECK FEE: $30.00
*SERVICE CHARGE FOR CASH ADVANCES: 2.0% finance charge of the amount of the cash advance (minimum $2)
The finance charge for a billing cycle is computed by applying the monthly Periodic Rate to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases posted to your account, and subtracting any payments as received and credits as posted to your account, but excluding any unpaid finance charges.
**A finance charge will be imposed on Cash Advances from the date made or from the first day of the billing cycle in which the Cash Advance is posted to your account, whichever is later, and will continue to accrue until the date of payment. A finance charge will be imposed on Credit Purchases only if you elect not to pay the entire New Balance shown on your previous monthly statement for the previous billing cycle within 25 days from the closing date of that statement. If you elect not to pay the entire New Balance shown on your previous monthly statement within that 25 day period, a finance charge will be imposed on the unpaid average daily balance of such Credit Purchases from the previous statement closing date and on new Credit Purchases from the date of posting to your account during the current billing cycle, and will continue to accrue until the closing date of the billing cycle preceding the date on which the entire New Balance is paid in full or until the date of payment if more than 25 days from the closing date.
***The Prime rate as stated is the current New York Prime as published in the Wall Street Journal every business day and, as a variable rate, will change as the stated index rate changes. If this index rate increases, you will pay more in finance charges on comparable balances if you do not pay your balance in full by the due date stated. There is no cap (maximum rate chargeable) associated with the variable rate card.
If your account stays in a delinquent status for 60 days, the rate will increase to 19.9% Annual Percentage Rate and the card will be frozen from any further activity. The card can be reinstated after a period of 6 months of current status, but only at the Bank’s discretion. Cardholder will be responsible for any and all legal/collection costs associated with our efforts to collect the balance.
For your protection, your new card must be activated within 30 days from the date of issuance or it will be cancelled. If your application has been approved and you have not received your card within 30 days, alert Bank of Clarke County at (540) 955-5234 or toll free (800) 650-8723.
Card payments received after 2 P.M. will be posted the next business day. To avoid a late charge, payment must be made by 2 P.M. on the due date shown on your card statement.
