Northeast Credit Union  
Rewards Visa Disclosure - Federal Truth in Lending Act 
Details of Rate, Fee, and Other Cost Information
As required by law, rates, fees and other costs of this credit card are disclosed here. All account terms are governed by the VISA Cardholder Agreement 
sent with the card. Use of the card constitutes acceptance of the terms of the Account and Agreement. Account and Agreement terms are not guaranteed 
for any period of time; all terms may change in accordance with the Agreement and applicable law.

INTEREST RATES AND INTEREST CHARGES

Annual Percentage Rate (APR) for Purchases

APR for Balance Transfer

APR for Cash Advance 

Minimum Payment

How to Avoid Paying Interest on Purchases

For Credit Card Tips From the Consumer Financial 
Protection Bureau

How We Calculate Your Balance

12.24% APR  
This APR will vary based on the Prime Rate.

12.24% APR 
This APR will vary based on the Prime Rate.

12.24% APR 
This APR will vary based on the Prime Rate.

2% of your balance with a minimum payment of $20 or outstanding 
balance, whichever is less.

Your due date is at least 25 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.

To learn more about factors to consider when 
applying for or using a credit card, visit the website 
at http://www.consumerfinance.gov/learnmore.

Purchases: We use a method called “Average Daily Balance” 
(including new purchases). 
Cash Advances: We use the “Average Daily Balance” with interest 
charged from the day of the cash advance.

FEES

Annual Fee

Transaction Fees
• 
• 
• 
• 

Balance Transfer
Cash Advance
Foreign Transaction
Transaction Fees for Purchases

Penalty Fees
• 

Late Payment (For all states except Maine)
(Late fee is based on balance owed, but will not exceed the  
amount of payment past due)

None

None
None
1% of each transaction in U.S. dollars
None

Less than $10 = $0
$10.00 - $5,000 = $10
$5,000.01 - $10,000.01 = $20
$10,000.01+ = $25

• 

Late Payment (Maine Residents*)
(Late fee is based on balance owed, but will not exceed the  
amount of payment past due)

Balance less than $10 = $0
Balance $10 or more = $10 or 5% of the past due amount, 
whichever is greater, not to exceed $25 and not to exceed the 
amount of the payment past due.

 
 
 
 
 
 
BILLING RIGHTS 
Information on your rights to dispute transactions and how to exercise those rights is provided in your Account 
Agreement. 

REWARDS VISA STANDARD DAILY PERIODIC RATE IS 0.033534 
Rate is in effect January 1, 2016 and is subject to change.

VARIABLE RATE INFORMATION 
Variable rate based on Wall Street Journal Prime Rate + margin of 8.74%; rate can change at the end of the 
calendar quarter. If the Prime Rate increases, variable APR’s will increase. In that case, you may pay more interest 
and have a higher Minimum Payment Due. The current Prime Rate as of 1/1/16 is 3.50%.

DEFAULT STATUS AND REWARDS 
If your credit card account is cancelled or closed for any reason, the related ScoreCard Reward Points will be 
forfeited on the date of cancellation or closure. If your credit card account is closed, becomes delinquent or 
in default, you will not continue to earn Reward Points and the Reward Points associated with your credit card 
account will not be available for redemption. Both posted and pending Reward Points may also be forfeited 
depending upon your credit card account status. 

HOW YOUR SCORECARD REWARDS PROGRAM WORKS 
You will receive one point for each dollar of qualifying purchases, net of returns (net purchases) that you charge to 
this card. Qualifying purchases do not include cash advances.1 No points are awarded for finance charges, fees, 
foreign currency conversion charges or insurance charges to your account. Unused points will expire if not used 
within 60 months.

HOW YOUR PAYMENTS ARE APPLIED 
Payments will be applied in the following order, first to any LATE CHARGES owing, then to the FINANCE CHARGE 
due, then to the outstanding principal balance (highest interest rate to the lowest interest rate). 

EXPLANATION OF PENALTY FEES  
Late Payment Fee: (All states except Maine) Any payment received more than 5 days after the due date shown on 
the most recent statement will be charged a Late Payment Fee. 
State of Maine*: Payment received more than 15 days after the due date shown on the most recent statement will 
be charged a late payment fee.

OTHER FEES (if not paid in cash, they will be charged to your savings account) 
Refer to Schedule of Fees.

1 Cash advances also include convenience checks, ATM advances for overdraft protection, advances through automated phone  
  banking, online banking or PIN-based purchase transactions.
* In accordance with Maine state law. WB5973.01.16 

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