Explanation of Variable Rates definition

Explanation of Variable Rates. If the Prime Rate increases, variable APRs (and corresponding DPRs) will increase. In that case, you may pay more interest and may have a higher Minimum Payment Due. When the Prime Rate changes, the resulting changes to variable APRs take effect as of the first day of the billing period. The Daily Periodic Rate (DPR) is 1/365th of the APR, rounded to the nearest one ten-thousandth of a percentage point. The variable penalty APR will not exceed 29.99%. ▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/learnmore How Rates and Fees Work Rates Penalty APR for new transactions The penalty APR may apply to new transactions if: If the penalty APR applies to a balance, it will • you do not pay at least the Minimum Payment apply to charges added to that balance 15 or Due by the Payment Due Date on one or more days after we send you notice. more occasions; or We will review your Account every 6 months • your payment is returned by your bank. after the penalty APR is applied. The penalty APR will continue to apply until you have made We may also consider your creditworthiness in timely payments with no returned payments determining whether or not to apply the penalty APR during the 6 months being reviewed. to your Account. Fees We add fees to a purchase balance, unless we tell you otherwise. Annual Membership This fee is on the Rates and Fees Table on page 1 of Part 1. Plan Fee Up to 1.18% of each purchase moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors. This fee is a fixed finance charge that will be charged each month that a plan is active. The dollar amount of your plan fee will be disclosed when you set up a plan. For more information, see About the Plan It feature in Part 2 of your Cardmember Agreement. Late Payment Up to $38. If we do not receive the Minimum Payment Due by its Payment Due Date, the fee is $27. If this happens again within the next 6 billing periods, the fee is $38. However, the late fee will not exceed the Minimum Payment Due. Paying late may also result in a penalty APR. See Penalty APR for new transactions and Penalty APR for existing balances above. Returned Payment Up to $38. If you make a payment that is returned unpaid the first time we present it to your bank, the fee is $27. If you do this again within the same billing period or the next 6 billing periods, the fee is $38. However, the returned payment fee will not exceed the applicable Minimum Payment Due. A returned payment may also resu...