Credit Tips: Fifth Third Bank Platinum Mastercard

Posted On: October 1, 2004

Author: NightStar, Credit Expert (100+ Posts)
Joined: 07 Nov 2003
Posts: 1699
Location: Illinois
Posted: Sun Nov 16, 2003 6:18 pm
Post subject: Fifth Third Bank:

http://www.53.com/
Platinum MasterCard

Annual Percentage Rate (APR) for purchases A fixed 0%

Introductory APR for purchases during the first four billing cycles.*; Then a variable APR of WSJ Prime Rate** + 3.99% (7.99%), Prime + 6.99% (10.99%), Prime + 8.99% (12.99%), or Prime + 12.99% (16.99%) depending on our review of your application and credit history.

Other APRs Introductory Balance Transfer APR: 0% for first four billing cycles; after that, variable APR for Purchases;

Cash advance APR: 19.99% or the WSJ Prime Rate** + 10.99% (19.99% as of 11/1/03) (19.99% minimum; 24.99% maximum)

Delinquency APR: 23.99% See explanation below.

*** Variable Rate Information Your annual percentage rate may vary monthly.

The APR for Purchases and Cash Advances is based on the WSJ Prime Rate plus a margin, the rate is calculated monthly by adding the margin applicable to the account to the WSJ Prime Rate.**

Annual Fee None

Grace Period for Repayment of the Balance for Puchases A minimum of 25 days on average from the billing date (provided that the previous account balance is paid in full by its Payment Due Date).

Method of Computing the Balance for Purchases Average Daily Balance (including current transactions)

Minimum Finance Charge $1.00 (if the total of a Finance Charge being added to your account is less than $1.00 in any billing cycle)

Cash Advance Fee $5.00 or 3.5% of the total dollar amount advanced, whichever is greater

Late Payment Fee $35.00 (at the time the Minimum Amount Due is not received by the Payment Due Date and at monthly intervals thereafter as long as the Minimum Payment Due remains past due)

Overlimit Fee $35.00

Balance Transfer Fee None

Transaction Fee for Purchases None

Other Fees:

Returned Payment Fee: $35.00

Foreign Currency Transaction Fee: 2% of the gross amount provided by the relevant Card association (or its affiliate); and Ready Reserve Fee: $7.00 per transaction.

*Introductory Rate: The introductory APR for Purchases and Balance Transfers will remain in effect through the closing date of the fourth billing cycle after your Account is opened, so long as the Minimum Amount Due on Account Statements is paid by each Payment Due Date during the promotional period. If not, the introductory APR will adjust in the billing cycles following any late payment to the variable APR for Purchases and Balance Transfers then in effect.

**The WSJ Prime Rate means the highest prime rate published in The Wall Street Journal on the day the rate is determined (or the previous day on which The Wall Street Journal was published if the paper is not published on that day). The date the rate is determined is the third Friday of each month. Any increase or decrease in the WSJ Prime Rate will result in an increase or decrease in your monthly periodic rate and corresponding APR. These changes will be applied, as applicable, to your existing account balance and to subsequent transactions effective as of the first day of the billing cycle immediately following the month in which we calculate the rate.

***Delinquency APR: If you fail to pay the Minimum Amount Due on your account by the Payment Due Date or to make a payment on to any other creditor when due, we will apply the Delinquency APR to the existing balance of your account and to all subsequent transactions posted to your account as of the first day of the second consecutive billing cycle after the billing cycle in which

(i) the Payment Due Date for the Minimum Amount Due on your account occurred or

(ii) the payment due date for a payment to any other creditor occurred, as applicable.

Once you become subject to the Delinquency APR, we may change your APR back to the respective APR for your account but only if you bring your account current and then pay at least the Minimum Amount Due by the Payment Due Date for six (6) consecutive billing cycles.

Arbitration: Need to read further information at site about Arbitration.

Information contained in this Fifth Third Bank Disclosure was printed on 11/1/03 and is accurate as of that date and is subject to change thereafter. To obtain more recent information, please call us at 1-800-972-3030.

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