Variable Rate Information: Your APR may increase or decrease. Rates are determined and adjusted monthly on the day following your statement closing date by adding a Margin to the highest U.S. Prime Rate as of the 15th of the previous month. The Margin is determined based on an evaluation of each Member's credit history. The margin will range from 3.74% to 14.74% based on product type. Your maximum APR will not exceed 18%.
How We Calculate Your Minimum Payment: Your minimum payment will be 2% of your balance or $25.00 whichever is greater, if your balance is less than $25.00 your minimum payment will be equal to your balance.
Balance Transfers: The introductory APR for balance transfers is good for 12 billing cycles from date of completed transfer on balances transferred within the first 90 days of account opening. After the 12 billing cycles, your rate will be the standard purchases APR. Balances transferred from existing First Tech Federal Credit Union accounts are not eligible for the introductory APR. Interest will start to accrue on the day the balance transfer is posted to your account, unless your balance transfer is subject to a promotional APR of 0.00%. In this case, no interest will accrue on the balance transferred until your 0% APR introductory period ends. If you take advantage of the introductory balance transfer offer, you will be charged interest on purchases unless your purchase APR is at a promotional 0.00%. To avoid interest on new purchases after you transfer a balance, you must pay your entire account balance on your account, including any balances you transfer under the introductory APR, purchases or cash advances, in full, by the end of your current cycle.
Change in Terms: We can change the terms of your account as permitted by law. When required, we will send you notice before doing so.
Loss of Introductory APR: We may end your introductory APR and apply the rate appropriate to your account, 11.49% to 18.00% for Balance Transfers APR, if you make a late payment during the introductory period. This APR will vary with the market based on the Prime Rate.