In today’s electronic economy, credit cards have become a necessity for people to make purchases and help manage expenses.
A MasterCard® from Columbus First features both a low introductory rate and low ongoing APR on your purchases and balance transfers, providing the control and cash management power you need.
Columbus First Bank customers can choose from two core program options, including our popular Standard or Preferred Points cards. Both options feature very competitive rates, and with multiple layers of security, they are the smart way to pay.
|Description||Low Rate Cards||World Card and Preferred Points Cards|
|Annual Percentage Rate (APR) for Purchases||2.90% introductory APR for six months. After that, your APR will be 10.24%. The APR will vary with the market based on the Prime Rate.b||2.90% introductory APR for six months. After that, your APR will be 15.24%. The APR will vary with the market based on the Prime Rate.a|
|APR for Balance Transfers and Cash Advances||2.90% introductory APR for six months. After that, your APR will be 10.24%. This APR will vary with the market based on the Prime Rate.b||2.90% introductory APR for six months. After that, your APR will be 15.24%. This APR will vary with the market based on the Prime Rate.a|
|Penalty APR and When It Applies||19.24% – This APR will vary with the market based on the Prime Rate.c
This APR may be applied if you allow your Account to become 60 days past due.
How Long Will the Penalty Apply? If your APR is increased for the reason stated above, the Penalty APR will apply until you make three consecutive minimum payments when due.
|How to Avoid Paying Interest on Purchases||Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.|
|— Fees —|
|Transaction Fees||Balance Transfers and Cash Advances: Either $10 or 3% of the amount of each balance transfer or each cash advance, whichever is greater.
International Transactions: 2% of each transaction in U.S. Dollars.
|Penalty Fees||Late Payment: Up to$25
Returned Payment: Up to $25
|Other Fees||Pay-by-Phone: Up to $10 for agent assisted payments.|
How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).” See your account agreement for more details.
Prime Rate: After the introductory rate, the APR will vary based on changes in the Index, the Prime Rate (the base rate on corporate loans posted by at least 70% of the ten largest U.S. banks) published in the Wall Street Journal. The Index will be adjusted on the 25th day of each month or the business day preceding the 25th day if that day falls on a weekend or a holiday recognized by the Board of Governors of the Federal Reserve System. Changes in the Index will take effect beginning with the first billing cycle in the month following a change in the Index. Increases or decreases in the Index will cause the APR and periodic rate to fluctuate, resulting in increased or decreased Interest Charges on the Account. As of September 24, 2014, the Index was 3.25%.
a We add 11.99% to the Prime Rate to determine the APR for Purchases, Balance Transfers, and Cash Advances. The Account will never have an APR over 21%.
b We add 6.99% to the Prime Rate to determine the APR for Purchases, Balance Transfers, and Cash Advances. The Account will never have an APR over 21%.
c We add 15.99% to the Prime Rate to determine the Penalty APR. The Account will never have an APR over 21%.
If you do not qualify for a World Card and you qualify for a Preferred Points Card, you will automatically be offered a Preferred Points Card. You understand and agree that the benefits for the World Card are different than those for the Preferred Points Card. If you check the box to receive a Visa Card, you understand and agree that the benefits for a Visa Card are different than for a MasterCard Card.
The issuer and administrator of the credit card program is TIB-The Independent BankersBank. The information about the Cost described in this table is accurate as of October 1, 2014. This information may change after that date. To find out what may have changed, call TIB at (800) 367-7576 or write TIB-The Independent BankersBank, P.O. Box 569120, Dallas, Texas 75356-9120.Close Panel