*Your Annual Percentage Rate may vary. The rate is determined by adding 6.74 percentage points to the Prime Rate. Take the Prime Rate as it is published in the “Money Rates” section of The Wall Street Journal on the last publication date of March, June, September, and December. The new rate will be effective on the first day of the billing cycle beginning January, April, July, and October.
Average Daily Balance on Purchases (excluding new transactions) - To avoid incurring an additional Interest Charge on the balance of purchases reflected on your monthly statement, you must pay the entire “New Balance” in full, shown on your monthly statement on or before the Payment Due Date. The Interest Charges for a billing cycle are computed by applying the Periodic Rate to the “average daily balance” of purchases. To get the average daily balance, we take the beginning balance of your account each day (excluding new transactions) and subtract payments, credits, non-accruing fees and unpaid interest charges. This gives us the daily balance. Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle.
Average Daily Balance on Cash Advances (including new transactions) - The Interest Charge on purchases begins from the date the transaction is posted to your account, and the Interest Charge on cash advances begins from the date you obtained the cash advance, or the first day of the billing cycle in which it posted to your account, whichever is later. There is no grace period.
The Interest Charges for a billing cycle are computed by applying the Periodic Rate to the “average daily balance” of your account. To get the average daily balance, we take the beginning balance of your account each day, add any new purchases or cash
advances, and subtract any payments, credits, non-accruing fees and unpaid interest charges. This gives us the daily balance. Then we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle.
**Balance Transfer Fee: On all balance transfers, there will be a 3.00% Balance Transfer Fee (with a maximum of $75.00 per balance transfer). This fee is a finance charge under federal law. It is separate from the Annual Fee.
***Penalty Rate: Any time your Account becomes two payments past due, the Penalty APR for Purchases and Cash Advances (including existing balance) will be changed to a fixed APR of 18.00% (corresponding to a daily periodic rate of 0.0493%).
Business Cash Advance Limits: Business Cash Advance Limit set to $0 unless requested by the company.
USA Patriot Act: Notice to All Customers – Important Information About Procedures for Opening a New Account. On October 26, 2001, President Bush signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001. To help the government fight the funding of terrorism and money laundering activities, the Act requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. As a financial institution we are required to do our part to protect the country from terrorist and other types of criminal activity. MidSouth Bank cannot and will not waive these requirements. Please help us to protect our country.
Annual Percentage Rate (APR) for Purchases as low as 11.99%*
Annual Percentage Rate (APR) for Balance Transfers as low as 11.99%*
Annual Percentage Rate (APR) for Cash Advances as low as 11.99%*
Rate information - Your APR is variable*
Annual Membership Fee - $20.00/$35.00 with ScoreCard Rewards
Late Payment Fee - $15.00
Over the Limit Fee - $25.00
Cash Advance Fee- 4% of amount advanced
Grace Period for repayment of the balance for purchases - Payment Due Date (No grace period)
Balance Transfer Fee**- 3.00% up to $75.00
Penalty Rate*** - 18.00%
International Transaction Fee - Up to 1.00% of the U.S. dollar amount of the transaction, whether originally made in U.S. dollars or converted from a foreign currency
For Credit Card Tips from the
Consumer Financial Protection Bureau - To learn more about factors to consider when applying for or using a credit card, visit the Consumer Financial Protection Bureau at www.consumerfinance.gov/learnmore
The information listed above is accurate as of November 2, 2018. Because rates and terms are subject to change, you may contact us for the current information by writing to: MidSouth Bank, Attn: Credit Card Department PO Box 3742, Lafayette, LA 70502-9945