VISA® Credit Cards
Credit Card Act of 2009, changes effective
02-22-2010:
Regulatory changes covered under the Credit Card Act of 2009, with the effective date of 02-22-2010 are in place now on your Platte Valley Bank VISA Credit Card account. To learn more about factors to consider when applying for or using a credit card, visit the website of the Federal Reserve Board at... http://www.federalreserve.gov/creditcard. A brief summary of the changes are as follows:
Overdraft fees are not applicable to Platte Valley Bank's Credit and Debit Cards, and never has been. Consumers now have 21 days to make their payments instead of 14, and you will have 45 days notice if the terms change, instead of 15 days. The 45 day change in terms notice will include an opt out option. This option does not release the credit card holder from paying off their debt. A change in terms notice will not be provided if the initial promotional rate expires and / or if the Variable Wall Street Journal Prime Rate changes ( the Wall Street Journal Prime rate as quoted in the Wall Street Journal ).
Your VISA credit card statement will make clear how long it will take you to pay off the balance and how much interest you will pay if you only pay the minimum amount every month. As it relates to offering college students a credit card, it has been Platte Valley Bank's policy never to offer someone under 21 without a co-signer or proof of proper income. This has always been our policy before the new 2009 Credit Card Act came out. Nor do we increase the limit on the card unless both the co-signer and the student agree. If your child does need a card, consider adding him or her as an authorized user on your own credit card. Being an authorized user will help teach them to live within their means and also help them build up their credit history, and could improve their credit score if payments are made on time.
The media has talked about credit card companies pre-emptively raising certain fees and interest rates. Platte Valley Bank has not done this. Our rates (listed below) have stayed the same since December 16, 2008. These rates have been and will continue to be tied to the Wall Street Journal Prime Rate.
Ask about our new...CA$H BACK REWARD$!
Earn a cash back reward just by using your Platte Valley Bank Check & Cash Debit Card or Business Check Card.
- No enrollment process!
- No enrollment fee or annual fee!
- No minimum purchase or maximum purchase to qualify!
- No minimum or maximum cash back reward limits!
Check below under Credit Card Choices for details on our VISA® Check and Cash Debit Card. Platte Valley Bank has the right card for YOU!
For more details contact us at 308-632-7004 or Toll Free at 1-888-632-7004 or contact one of our Consumer Bankers or contact Frances Morales, Manager of our Platte Valley Bank Credit Card Division.
Frances Morales
Manager
Credit Card Division
VISA® Credit Card Choices
VISA® Check & Cash "Debit" Card*
It is the debit card that works like a check. You don't have to write a check to make purchases with the money in your checking account. Hand your card to the cashier. Use as a "CREDIT" and get Cash Back Rewards. No PIN # needed. Just sign! All purchases are detailed on your monthly checking account statement.
No hassle purchasing power. The card, that works like a check. Your business wins when you save time and money. PLUS, there are many other benefits.
No annual fee. Worldwide acceptance. You have 24/7 cash! Other benefits:
- Auto Rental Insurance
- 25-Day Grace Period
- Toll Free Assistance Number
Low annual fee. Enjoy the benefits of having a VISAŽ card, even if you have a limited credit history or have had credit problems.
- 25-day Grace Period
- Acceptance at millions of merchant locations worldwide
- Toll Free Assistance Number
- Low annual fee of $18.00.
No annual fee. Travel and emergency assistance services. Lost / stolen card reporting. Purchase security / extended protection. Other benefits:
- 25-day Grace Period
- Auto Rental Insurance
- Travel Accident Insurance
Right color. Right size-every time!
- $5.95 cost per card
- Card can be loaded with a minimum of $25-up to a maximum of $500
- There will be a specified expiration date upon date of purchase
- "Not" re-loadable
- No embossing of cardholder's name
- Will come with a gift card carrier
- Gift card envelope
- Terms and conditions that explain any fees that may be applicable to the Cardholder, which could be:
- Dormant fee of $2.50 per month after 6 months
- Balance transfer fee $15.00 for a reissue of card after expiration
- Telephone service fee $ .50 per call after two calls to a live operator
- Lost/stolen fee of $15 for existing balance to new card
- (Any applicable fees will be auto charged to the card account balance)
- Toll free automated number to check balance & last five transactions
- Allows cardholder to dispute exception processing through a live operator and
- live customer service 24/7 365 days
How We Calculate Your Balance:
We use a method called "average daily balance (including current transactions)".
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in the Cardholder Agreement.
Prime rate as of 12-16-08 is 3.25%
- Prime plus 4.25% APR for VISA® Gold
- Prime plus 5.25% APR for VISA® Classic.
- Prime plus 11.25% APR For MERIT VISA®.
Rates may change. Cash Advance Fee - 2% of advance not to exceed $10.00. Late payment fee - $20.00. Returned check fee - $20.00. Low minimum monthly payments. 3% of the outstanding balance ($10,000.00).
Subject to final review of your financial information. Ask for terms and disclosures.
*Subject to Credit Approval. Call Bank for Terms & Agreements.
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