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# REPO R T OF TERMS OF CREDIT CARD PLANS

— INSTRUCTIONS FR 2572

Public reporting burden for this collection of information is estimated to aver

age 15 minutes per response, including the time to gather and maintain data

in the required form and to review instructions and complete the information

collection. Send comments regarding this burden estimate or any other aspect

of this collection of information, including suggestions for reducing this burden,

to Consumer Financial Protection Bureau (Attention: PRA Office), 1700 G

Street, NW, Washington, DC 20552 and to the Office of Management and

Budget, Paperwork Reduction Project ( 3170

- 0001 ), W ashington, DC

20503.

The C onsumer Financial Protection Bureau may not conduct or sponso r

, and an organization (or a person) is not required to respond to, a

collection of information unless it displays a currently valid OMB control

numbe r

.

PURPOSE OF THE REPORT

This report collects information needed by the Consumer Financial

Protection Bureau to prepare a semiannual publication on the terms of

credit card plans as man

- dated by the Fair Credit and Charge Card

Disclosure Act of 1988.

GENERAL INSTRUCTIONS

Report information on the pricing and terms of only one consumer credit card

plan o f fered by your institution. The plan must be a third

- party plan, such as

V isa, MasterCard, Discove r

, or Optima. Do not report information on a specific

retail store card plan. Use the third

- party plan that had the largest number of

cards outstanding AND that was available to new customers as of the report

date. If your largest plan is an aff i nity group plan, you may report information

on that plan, OR you may report on the largest plan made available to the

general public (such as V isa or MasterCard that does not require an a f finity

relationship).

The information request in this report is virtually identical to the information

that must be shown in credit card applications and solicitations as a result of

amendments to the Federal Reserve Board's Regulation Z ( T ruth in Lending)

adopted March 30, 1989, and e f fective April 3, 1989.

Data must be reported twice a yea r

, as of January 31 and July 31. Completed

report forms must be sent to the Consumer Financial Protection Bureau no

later than ten business days following the report date. Information from

this survey will be made available to the public. Rates reported should be annual percentage rates as shown in your credit card

disclosures and as specified by Regulation Z. All rates should be reported as

percentages rounded to two decimal places; for example, report 10 percent as

10.00, report 10

- 1/2 percent as 10.50 and report 10

- 7/8 percent as 10.88.

Dollar amounts should be reported as dollars and cents; for example, enter

ten dollars as 10.00, and enter fifty cents as 0.50.

Ancillary fees described in Lines 56 through Lines 58 should be reported

only as minimum charges. See examples of how to determine minimum fees

following instructions for Line 58.

Print the name of your financial institution on the top left hand portion of each

page of this report.

Questions regarding how to complete this form should be directed to the

Consumer Financial Protection Bureau

.

SPECIFIC INSTRUCTIONS

Line 1. Name of credit card plan . Report the name of the third party credit

card plan (such as V isa, MasterCard, Discove r , Optima) with the largest

number of outstanding cards. (Limit to 36 characters.)

Line 2. A vailability of credit card plan

. Indicate, using the appropriate code,

whether the credit card plan is o f fered to consumers either nationally (all 50

states and the District of Columbia), regionally (more than one state but not

nationally), or only in one state.

Lines 3

– 55. Credit card plan information by state . If identical terms are

o f fered nationally (all 50 states and the District of Columbia), enter terms

on Line 3 onl y

. If the card is o f fered nationally

, but with di f ferent terms in a

few states, enter the “most common terms” in Line 3 and enter the specific

terms by state where they di f fer from the “most common.” If identical terms

are o f fered regionally

, enter terms on Line 4 and put an “X” to the right of the

names of all states in which the plan is o f fered. If the card is regional but with

di f ferent terms in a few states, enter the “most common terms” in Line 4, put

an “X” to the right of the names of the states where those terms appl y

, and

enter the specific terms by state where they di f fer from the “most common.”

If the plan is o f fered only in one state, indicate terms on the appropriate

state line.

Columns A

– C. Annual percentage rate (APR)

. Report the periodic rate, expressed as an annual rate, that is used to compute finance charges for

purchases. If the credit card has a variable rate, indicate the rate in e f fect as

of the report date in Column A and complete Columns M

– O as applicable.

If only one APR applies to the entire outstanding balance, regardless of the

size of the balance, complete only Column A and do not complete Columns

B

– L.

If the credit card plan has tiered rates (that is, if di f ferent APRs apply to dif

ferent levels of outstanding balance), indicate the APR for the first tier (the

lowest balance tier) in Column A and report the corresponding balance range

in Columns B and C, showing dollars and cents.

If the credit card plan has more than one APR because customers are seg

mented by their payment or usage practices, report the rate a new customer

would be o f fered. When a range of APRs exist for new customers the mid

point of the highest and lowest range should be reported. For example, if a

bank's APRs for new customers range from 16.99% to 28.99%, Column A

would be reported as 22.99%.

If the credit card plan has an introductory interest rate that is only available

for a limited time, you may report the fact that you o f fer such an introductory

rate as a feature of your plan on line 60. Do not report the introductory rate

itself. Instead, report in column A the APR that would have been applied us

ing the current index value for variable rate plans or the usual APR for fixed

rate plans.

Columns D

– F

. T

erms for second tier of outstanding balance

. If the credit

card plan has tiered rates, indicate the APR for the second tier in Column D

and report the corresponding balance range in Columns E and F

, showing

dollars and cents. If there is no third tie r , do not complete Column F

.

Columns G

– I. T erms for third tier of outstanding balance

. If the plan has

a separate APR for a third balance tie r

, indicate the APR in Column G and

report the corresponding balance range in Columns H and I, showing dollars

and cents. If there is no fourth tie r , do not complete Column I.

Column s J

– L

. T erm s fo r fourt h tie r o f outstandin g balanc e

. If the

plan has a separate APR for the fourth balance tie r

, indicate the

APR in Column J and report the corresponding balance range in

Columns K and L, showing dollars and cents. If there is no fifth tie r

, do

not complete Column L.

NOTE: Do not report information on fifth or higher balance tiers.

# REPO R T OF TERMS OF CREDIT CARD PLANS

— INSTRUCTIONS

— Continued FR 2572

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Column M. V ariable rate index

. If the credit card plan has a variable rate,

enter the corresponding number below of the index used to set the rate:

1 = Prime

2 = One

- month T

- bill

3

= Three

- month T

- bill

4 = Six

- month T

- bill

5 = One

- year T

- bill

6 = Fed funds

7 = Cost of Funds

8 = Federal Reserve Discount Rate

9 = Other

Column N. V ariable rate margin

. Indicate the margin or spread in percent

age points used to determine the finance rate. Percentage points should be

rounded to two decimal places. When a range of margins exist the midpoint

of that range should be reported. For example, if a bank's rate margins range

from 5.99% to 12.99%, Column N would be reported as 9.49%.

Column O. V ariable rate multiple

. If the finance rate is derived from a multiple

of the index, report the multiple used. Multiple fractions should be rounded to

two decimal places; for example, report a multiple of 1

- 1/2 as 1.50.

Note: If both a margin and a multiple of the index are used to determine the

finance rate, report both.

Column P

. Annual fee (membership fee)

. The annual charge or other pe

riodic fee, expressed as an annualized amount, that may be imposed for the

issuance or availability of the credit card, including any fee based on account

activity or inactivit y

.

Column Q. Grace period . The period of time from the end of the billing

cycle in which credit extended for purchases during that billing cycle may

b e repai d withou t incurrin g a financ e charge

. I f n o grac e period

exists, enter zero. A one

- month grace period should be reported

as

30 days.

Columns R

– S. T ransaction fee for purchases . Report the transaction fee

imposed for each use of the card for purchases. If the fee is a dollar amount,

indicate the amount in Column R. If it is a percentage of the purchase price,

indicate the percentage (rounded to two decimal places) in Column S. If both,

report both. Columns T

– U. Minimum finance charge

. Report the minimum or

fixed finance charge that could be imposed during a billing cycle. If the

charge is a dollar amount, indicate the amount in Column T

. If the charge is a

percentage of the balance, indicate the percentage (rounded to two

decimal places) in Column U. If both, report both.

Note: For most institutions, the minimum finance charge is a dollar amount

onl y

, usually less than $1.00, and there is no additional percentage charge.

In such a case, report the dollar amount, rounded to the nearest cent (for

example, report fifty cents as 0.50), and do not enter anything in Column U.

Do not report the APR in Column U.

Ancillary Fees

Line 56. T ransaction fee for cash advances . Report the transaction fee

imposed for an extension of credit for a cash advance. If this fee is uniform

over the plan's region, report on Lines 56.A and 56.B

. If the fee is a fixed dollar

amount, report the minimum amount showing dollars and cents on Line 56.A.

If it is a percentage of the cash advanced, indicate the percentage (rounded to

two decimal places) on Line 56.B. If both, report the minimum dollar amount

and the percentage of the cash advance on Lines 56.A and 56.B.

If this fee varies over the plan's region, report the range of fees (minimum

and maximum values) charged on Lines 56.C and 56.E and Lines 56.D and

56. F , in the same manner as described above.

Line 57. Late payment fee

. Report the fee imposed for a late payment. If

this fee is uniform over the plan's region, report on Lines 57.A and 57.B. If the

fee is a fixed dollar amount, report the minimum amount showing dollars and

cents on Line 57.A. If it is a percentage of the outstanding amount, indicate

the percentage (rounded to two decimal places) on Line 57.B. If both, report

the minimum dollar amount and the percentage of the delinquent balance on

Lines 57.A and 57.B.

If this fee varies over the plan's region, report the range of fees (minimum

and maximum values) charged on Lines 57.C and 57.E and Lines 57.D and

57. F , in the same manner as described above.

Line 58. Over the credit limit fee . Report the fee imposed for exceeding a

credit limit. If this fee is uniform over the plan's region, report on Lines 58.A

and 58.B. If the fee is a fixed dollar amount, report the minimum amount

showing dollars and cents on Line 58.A. If it is a percentage of the amount

over the credit limit, indicate the percentage (rounded to two decimal places) on Line 58.B. If both, report the minimum dollar amount and the percentage

over the credit limit on Lines 58.A and 58.B.

If this fee varies over the plan's region, report the range of fees (minimum

and maximum values) charged on Lines 58.C and 58.E and Lines 58.D and

58. F , in the same manner as described above.

Examples of how to report ancillary fees:

• For each cash advance transaction, the institution charges a fee of $5

plus 5 percent of the advance, or a minimum of $10, whichever is greate r

. The fee is uniform across the plan ’ s region. Report the minimum, $10, on

Line 56 A.

• For each late payment, the institution charges a fee of 5 percent of the

outstanding amount, or a minimum of $2, whichever is greate r

. The fee is

uniform across the plan ’ s region. Report the minimum, $2, on Line 57 A.

• For each transaction that exceeds the credit limit, the institution charges

a fee of $5 plus 5 percent of the amount exceeding the limit, up to a maxi

mum of 10 dollars. The fee is uniform across the plan ’ s region. Report the

minimum, $5 plus 5 percent on Line 58 A and Line 58 B, respectivel y

.

• For each cash advance transaction, an institution charges a fee of 2 per

cent of the advance, up to a maximum of $10, but no minimum fee exists.

The fee is uniform across the plan ’ s region. Report as the minimum fee,

2 percent, on Line 56 A.

Line 59. Balance computation method. Report the computation method

used to determine the balance on which the finance charge is computed for

purchases. The following are names and descriptions of the most common

balance computation methods. If your financial institution uses one of these

methods, simply enter the appropriate code numbe r

. Otherwise, provide a

short explanation of the method used.

Code Name of Balance Computation

1. A verage daily balance including new purchases

. Calculated by adding

the outstanding balance (including new purchases and deducting payments

and credits) for each day in the billing cycle, and then dividing by the number

of days in the billing cycle.

2. A verage daily balance excluding new purchases

. Calculated as

in Method 1, except new purchases are excluded.

# REPO R T OF TERMS OF CREDIT CARD PLANS

— INSTRUCTIONS

— Continued FR 2572

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3. T wo

- cycle average daily balance including new purchases

. The sum

of the average daily balances for two billing cycles. The first balance is for

the current billing cycle, and is figured by adding the outstanding balance

(including new purchases and deducting payments and credits) for

each day in the billing cycle, and then dividing by the number of days in the

billing cycle. The second balance is for the preceding billing cycle and is

figured in the same way as the first balance.

4. T wo

- cycle average daily balance excluding new purchase s

. Calculated

as in Method 3, except new purchases are excluded.

5. Adjusted balance

. Calculated by deducting payments and credits made

during the billing cycle from the outstanding balance at the beginning of the

billing cycle.

6. Previous balance

. The outstanding balance at the beginning of the billing

cycle.

7. Other

. If “other” is selected, provide a brief explanation of the method

used. (Limit to 752 characters).

Line 60. Credit card plan enhancements

. (The reporting of this item is

optional). Indicate by ’X” each of the credit card plan enhancements listed

that are automatically provided to card holders “free of charge,” that is,

without any explicit charge to the consume r

. If the credit card plan o f fers

enhancements “free of charge” that are not listed, indicate by ”X” in the

“other” line, but do not specify what these are.

Line 61. Name and address to obtain credit card application

. Provide the

nam e o f th e f inancia l institutio n an d th e mailin g addres s a consume r woul d use

to obtain a credit card application. (Limit to 288 characters).

Line 62. T elephone number for consumers with questions about credit

card rates and terms

. Indicate the telephone number consumers may call

with questions about your credit card plan. A toll

- free number is requested

if available . (Limit to 1 0 characters , enter only numbers ).