Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 1856
Location: Illinois
Posted: Sun Nov 16, 2003 6:30 pm
Post subject: Capital One:
capitalone.com/indexn.php
Capital One Visa Platinum
ANNUAL PERCENTAGE RATE(APR) for purchases*
A fixed rate of 8.9% (0.02438% daily periodic rate).
Other APRs*
Balance transfer APR: Same as for purchases.
Cash advance APR: A fixed rate of 19.8% (0.05425% daily periodic rate).
Default APR: A fixed rate of 19.8% (0.05425% daily periodic rate). See explanation below.*
*All non-introductory rates will be changed to a fixed 19.8% ANNUAL PERCENTAGE RATE (0.05425% daily periodic rate) if:
(i) your account is 5 or more days past due twice within any 6-month period (in this event, the change will be effective with the beginning of the second billing period in which you were past due); or
(ii) we do not receive your minimum monthly payment as calculated by the terms of your account for 2 consecutive billing periods (in this case, the rates will change effective within two billing periods of the delinquency).
Your minimum payment will be 3% of your outstanding balance or $10, whichever is greater. If your balance is less than $10, your minimum payment will equal your balance amount. Grace period for repayment of the balance for purchases. You will have a minimum of 25 days without a finance charge on new purchases if the New Balance is paid in full each month by the following statement closing date. Method of computing the balance for purchases. Average daily balance (including new purchases).
Membership Fee None.
Minimum finance charge For each billing period that your account is subject to a finance charge, a minimum total FINANCE CHARGE of $0.50 will be imposed.
Miscellaneous Fees Cash advance fee: 3% of amount of the cash advance, but not less than $5.
Late payment fee: $29
Over-the-credit-limit fee: $29
Balance transfer fee: None
Returned check fee: $29
The minimum credit line is $500.
Payments will first be applied to finance charges and fees, then to the Purchase segment, next to the Cash Advance segment and finally to the Special Transfer segment, if applicable.
Your account must be open to receive a Year-End Purchase Summary and to use other program benefits. These program benefits cannot be added to an existing Capital One account.
FINANCE CHARGE Transactions which are not subject to a grace period are assessed finance charges
1) from the date of the transaction or
2) from the date the transaction is processed to your account or
3) from the first calendar day of the current billing period.
Additionally, if you did not pay the "New Balance" from the previous billing period in full, finance charges continue to accrue to your unpaid balance until the unpaid balance is paid in full. This means that you may still owe finance charges, even if you pay the entire New Balance indicated on the front of your statement by the next statement closing date, but did not do so for the previous month. Unpaid finance charges are added to the applicable segment of your account.
Cash advances (the cash advance segment) and special transfers (if your account includes a special transfer segment) may not avoid finance charges. Cash Advance, Purchase/Balance Transfer/Other Charges and Special Transfer or Special Purchase Segments (If Your Account Includes a Special Transfer or Special Purchase Segment).
Finance charge is calculated by multiplying the daily balance of each segment of your account (e.g., cash advance, purchase, special transfer, and special purchase) by the corresponding daily periodic rate(s) that has been previously disclosed to you. At the end of each day during the billing period, we apply the daily periodic rate for each segment of your account to the daily balance of each segment. Then at the end of the billing period, we add up the results of these daily calculations to arrive at your periodic finance charge for each segment. We add up the results from each segment to arrive at the total periodic finance charge for your account. To get the daily balance for each segment of your account, we take the beginning balance for each segment and add any new transactions and any periodic finance charge calculated on the previous day's balance for that segment. We then subtract any payments or credits posted as of that day that are allocated to that segment. This gives us the separate daily balance for each segment of your account. However, if you paid the New Balance shown on your previous statement in full (or if your new balance was zero or a credit amount), new transactions which post to your purchase or special purchase segments are not added to the daily balances. To calculate your total finance charge, multiply your average daily balance by the daily periodic rate and by the number of days in the billing period. Due to rounding on a daily basis, there may be a slight variance between this calculation and the amount of finance charge actually assessed.
Determining Daily Periodic Rates.
Divide the corresponding Annual Percentage Rate by 365 and round up to the nearest 1/100,000th of 1%, not to exceed the maximum allowed by applicable law. If the daily periodic rates and corresponding Annual Percentage Rates increase, the Finance Charge will increase and your minimum payment may be greater.
Refer to the IMPORTANT DISCLOSURES for daily periodic rates and Annual Percentage Rates.
OTHER CHARGES: Copying Charge: $3.00 for a copy of a Periodic Statement and $2.00 for a copy of a transaction (fee imposed per copy). ***
Arbitration Provision Need to visit site for additional information on Arbitration Provision.
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