Farm Bureau® Member Rewards Mastercard® (converted) 

Terms & Conditions 

The information provided below in these Terms & Conditions, along with the Cardholder Agreement(s), certain 
account pricing and terms that were available to certain applicants that applied for and were approved for 
certain credit card accounts on the last business day of the calendar month that ended on May 31, 2022. These 
account terms may not be available after that date. 

These documents are being provided to you for informational purposes only. If you apply and are approved for a 
credit card account with us, your actual account terms will be based on the terms of the offer available at the 
time that you applied, what you are approved for, and your actual Cardholder Agreement will be the agreement 
sent to you when your account is first opened. 

FARM BUREAU MEMBER REWARDS MASTERCARD INTEREST RATES AND INTEREST CHARGES 

Annual Percentage Rate [APR] for 
Purchases 

11.49% to 26.49% APR 

This APR will vary with the market based on the prime rate. 

APR for Balance Transfers 

11.49% to 26.49% APR 

This APR will vary with the market based on the Prime Rate. 

APR for Cash Advances 

26.74% APR 

This APR will vary with the market based on the Prime Rate. 

Penalty APR and When It Applies 

This APR may be applied to your account if you make a late payment. 

Up to 28.74% based on your creditworthiness. This APR will vary with the 
market based on the Prime Rate. 

Paying Interest 

How Long Will the Penalty APR Apply? If your APRs are increased for this 
reason, the Penalty APR may apply indefinitely. 

Your due date is at least 23 days after the close of each billing cycle. We 
will not charge you interest on purchases if you pay your entire balance 
by the due date each month. We will begin charging interest on balance 
transfers, checks and cash advances on the transaction date. 

Minimum Interest Charge 

If you are charged interest, the charge will be no less than $2.00 ($0.50 
for residents of Iowa at the time of account opening). 

Page 1 of 2 

Converted MC Terms_2022.06.30 

 
 
 
 
Farm Bureau® Member Rewards Mastercard® (converted) 

FEES 

Annual Fee 

$0 

Transaction Fees: 

•  Balance Transfer 

Either $10 or 4% of the amount of each transfer, whichever is greater. 

We may from time to time offer you lower Transaction Fees on Balance 
Transfers and Checks. 

•  Cash Advance 

Either $10 or 5% of each transaction amount, whichever is greater. 

•  Foreign Transaction 

3% of each transaction in US dollars. 

Penalty Fees 

•  Late Payment 

Up to $35 (the amount of the fee varies by state, see below). 

•  Over-the-Credit-Line 

$0 

•  Returned Payment 

Up to $35 (the amount of the fee varies by state, see below). 

Additional Check Related Fees 

•  Check Stop Payment Fee  Up to $39.95 (the amount of the fee varies by state, see below). 

•  Returned Check Fee 

Up to $35 (the amount of the fee varies by state, see below). 

How We Will Calculate Your Balance: We use a method called “daily balance (including new purchases).” If you are a resident 
of Iowa at the time the account is opened, we use a method called “average daily balance (including new purchases).” See 
Cardholder Agreement for more information. 

Loss of Introductory APR: We may end your introductory APR and apply the Penalty APR if you make a late payment. 

Military Lending Act: Covered borrowers under Military Lending Act; Federal law provides important protections to members of 
the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a 
member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate 
must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums; fees for 
ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application 
fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for 
a credit card account). Please call our toll-free number 800.492.3276 from Monday – Friday, 7 am – 7 pm CT and Saturdays, 
8 am – 12 pm CT if you would prefer an oral disclosure of the payment obligation for this account before using the account or 
activating the card. 

FEES THAT VARY BY STATE 

Late Payment Fee: Up to $35 (Up to $15 for residents of Iowa at the time of account opening).  

Returned Payment Fee: Up to $35 (Up to $15 for residents of Iowa at time of account opening).  

Returned Check Fee: Up to $35 (Up to $20 for residents of Iowa at time of account opening). 

Check Stop Payment Fee: Up to $39.95 (Up to $29 for residents of Iowa at time of account opening). 

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in the 
cardholder agreement. 

As of 06/30/2022 the Prime Rate was 4.75%. 

Page 2 of 2 

Converted MC Terms_2022.06.30