Re: Interest Rate

Posted by Paul (216.127.82.98) on July 05, 2004 at 23:48:44:

In Reply to: Interest Rate posted by Bamagal on July 05, 2004 at 20:39:22:

Are you sure it’s only 23.9% ?

Bank of America’s website says their cards’ penalty interest rate is 25.99% now.

Fixed Purchase APR applies, between 9.9% and 12.9%; to be determined when your account is opened.*†

Cash Advance APR: 19.99% (Minimum 19.99%)*
Penalty Rate: 25.99% (Minimum 25.99%)*

*If an introductory rate is applicable to this product, and we do not receive at least the minimum payment due during any billing cycle, or you go over your credit limit or close your account, any introductory rate on Purchases and Balance Transfers will terminate. If at any time (including the introductory period, if applicable), you miss two consecutive minimum payments; or within a six month billing cycle period you miss two minimum payments or are two times Over the Credit Limit; your Purchase, Cash Advance and Balance Transfer APR will be the Prime Rate plus 21.99% (minimum 25.99%).

www.bankofamerica.com

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