Credit Disclosures
| Interest Rates and Interest Charges | VISA® Business Credit Card | |
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| Annual Percentage Rate (APR) for Purchases | 11.99% (Fixed) | |
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| APR for Balance Transfers | 11.99% (Fixed) | |
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| APR for Cash Advances | 11.99% (Fixed) | |
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| Penalty APR and When it Applies | 24.00% | |
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| Annual Membership Fee | $35.00 waived if used four (4) or more times per year | |
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| Late Payment Fee | Up to $30.00 | |
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| Over The Limit Fee | Up to $30.00 | |
| Transaction Fee for Cash | 1.5% of the amount advanced | |
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| Balance Transfer | NONE | |
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| The information about the costs of the cards described above is accurate as of August 2011. This information is subject to change. To receive the most up to date information, write us at Mainstreet Bank, PO Box 373, Herndon, VA 20170. | ||
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| Grace Period for re-payment of balances for purchases | 0 Days* | |
| Method of Computing the Balance for Purchases | Average Daily Balance Including New Purchases* | |
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| *A finance charge will be imposed on Credit Purchases only if you elect not to pay the entire new balance shown on your monthly statement for the previous billing cycle within 25 days from the closing date of that statement. If you elect not to pay the entire ne balance shown on your previous monthly statement within that 25-day period, a finance charge will be imposed on the unpaid average daily balance of such Credit Purchases from the previous statement closing date and on new Credit Purchases from the date of posting to your account during the current billing cycle, and will continue to accrue until the closing date of the billing cycle preceding the date on witch the entire new balance is paid in full or untill the date of payment if more then 25 days from the closing date. The finance charge for billing cycle is computed by applying the monthly periodic rate to the average daily balance of Credit Purchases, which is determined by dividind the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily balance of Cridit purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases posted to your account, and subtracting any payments as received or credits as posted to your account, but excluding any unpaid finance charges. A finance charge will be imposed on Cash Advances from the date made or from the first day of the billing cycle in which the Cash Advance is posted to your account, whichever is later, and will continue to accrue on the unpaid average daily balance of such Cash Advances untill the date on which the entire new balance is paid during the same billing cycle, or until the closing date of the billing cycle preceding the date on which the entire new balance is paid in full or until the date of the payment if more then 25 days from the closing date. if the new balance shown on your monthly statement for the prior billing cycle is paid in full within 25 days of the closing date of the statement, no finance charge will be imposed during the current billing cycle for Cash Advances posted to your account during previous billing cycles. | ||
