INTEREST RATES AND INTEREST CHARGES
Annual Percentage Rate (APR) for Purchases - 1.99%, 4.99%, or 6.99% introductory APR for 6 months, based on your creditworthiness. After that, your APR will be 11.99%,14.99%, or 16.99%, depending on your creditworthiness. This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers - 1.99%, 4.99%, or 6.99% introductory APR for 6 months, based on your creditworthiness. After that, your APR will be 11.99%,14.99%, or 16.99%, depending on your creditworthiness. This APR will vary with the market based on the Prime Rate.
APR for Cash Advances - 11.99%,14.99%, or 16.99%, depending on your creditworthiness. This APR will vary with the market based on the Prime Rate.
Penalty APR and When it Applies - None.
Paying Interest - Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on the cash advances on the transaction date.
Minimum Interest Charge - None.
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 website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore
Annual Fee - None.
• Balance Transfer - 3% of the amount of each transfer (maximum fee: $75).
• Cash Advance - 4% of the amount of each cash advance.
• Foreign Transaction - Up to 1% of each transaction in U.S. dollars.
• Late Payment - Up to $15.00.
• Over-the-Credit Limit - None.
• Returned Payment - Up to $25.00.
How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).” Cash advance limits apply. Refer to the corresponding Account Agreement for more details. Please see the Billing Rights Notice within the Account Opening Agreement.
What Are Your Billing Rights? Information on your rights to dispute transactions and how to exercise those rights is provided in the “Your Billing Rights” section of these additional disclosures.
*Initial Rate: For the first six months’ billing cycle after your Account is established, your finance charge will be computed based on the fixed Annual Percentage Rate (see data card appropriate to the left) which computes to a Daily Periodic Rate which is as follows: VISA Classic 0.01915%, VISA Gold 0.01367%, or VISA Platinum 0.00545%. At the beginning of your seventh billing cycle, your Annual Percentage (“APR”) will be adjusted in accordance with the variable rate formula described below and thereafter may be adjusted every January, April, July, and October. (Initial rates do not apply to cash advances.)
**Your Annual Percentage Rate may vary. The rate is determined by adding 11.74 % to the Prime Rate for VISA Classic, 9.74% for VISA Gold, or 6.74% for VISA Platinum, which computes to a Daily Periodic Rate as follows: VISA Classic 0.04654%, VISA Gold 0.04107%, or VISA Platinum 0.03285%. All cards have a maximum rate of 18.00%. 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 in January, April, July, and October.
***Average Daily Balance (including new transactions): To avoid incurring additional Interest Charges on the balance of purchases and cash advances reflected on your monthly statement and, on any new purchases and cash advances appearing on your next monthly statement, you must pay the entire “New Balance” in full, as shown on your monthly statement, 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 and cash advances. To get the average daily balance, we take the beginning balance of your account each day, add any new purchases and 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. That gives us the average daily balance.
Balance Transfer Fee: On balance transfers, a 3.00% Balance Transfer Fee (with a maximum of $75.00 per balance transfer) will be assessed. This fee is a finance charge under federal law. There is no Annual Fee.
Cash Advance Limits: Cash advances are limited to 1/2 the amount of your card’s maximum limit.
ATM Fees: All ATM Cash Advances will incur an additional ATM terminal fee.
Late Payment or Return Item Fee: Fee imposed will be the lower of disclosed amount or required minimum payment.
USA PATRIOT ACT
Notice to All Customers – Important Information About Procedures for Opening a New Account. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or creates a new customer relationship with our bank. 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.
MILITARY LENDING ACT
Members of the armed forces and their dependents may have certain protections under the MLA. Please call 800-452-2267 and select option 6 for an important message regarding your rights.
Your MidSouth Bank Visa Credit Card provides you with options when it comes to getting more value from your card experience. You may choose to earn rewards via our Cash Back program or by earning ScoreCard Points redeemable for travel, merchandise, and more. From travel, to shopping, dining, electronics, once-in-a-lifetime experiences, sporting goods, appliances, and more - the possibilities are endless. You also enjoy personal travel booking service and round the clock access to our expert service team at 800-854-0790. With as little as 1,000 points you can start redeeming your Points and fulfilling your dreams. Visit ScoreCardRewards.com\browse and see what rewards await you. ScoreCard Points: Earn 1 point for every $1 in net purchases made with your MidSouth Bank Visa Credit Card. Simply choose the ScoreCard Points on your application. Scorecard Cash Back: Earn up to 1% Cash Back on every purchase made with your MidSouth Bank Visa Credit Card! Simply choose ScoreCard Cash Back on the application. Earnings are paid out annually. Cash Back earnings: Yearly purchases $.0 to $1000.00 Cash back .25%. Yearly purchases $1000.00 to $2000.00 Cash Back .50%, Yearly purchases $2000.00 to $3000.00 Cash Back .75%, Yearly Purchases $3000.00 > Cash Back 1.00%.
NO COST TRAVEL ACCIDENT INSURANCE
When you use your MidSouth Bank Visa Credit Card to purchase your entire travel fare on a common carrier, you are automatically provided with Travel Accident Insurance coverage. Your spouse and eligible dependent children are also covered when their travel fare is purchase with this card. Even better, this coverage is COMPLEMENTARY to you. You pay NO ADDITIONAL COST for this added peace of mind. Your MidSouth Bank VISA credit card provides you with up to $150,000 in coverage. See your description of coverage in your cardholder agreement for complete details.
24/7 ONLINE ACCESS
Stay in touch with your account 24/7 at MyCardStatement.com (accessible from MidSouthBank.com).
• Enjoy paperless statements
• View transactions
• Download transaction history to Quicken or QuickBooks
• Pay online
• Set-up and review alerts
• Review expense reports, Top 10 Purchases List, and other reports.
All MidSouth Bank Visa Credit cards include the following complimentary benefits:
• Travel Emergency Service
• Warranty Registration
• Extended Service Agreement on qualified purchases
• Extended Warranty on qualified services
What To Do If There's An Error In Your Bill.
YOUR BILLING RIGHTS - KEEP THIS NOTICE FOR FUTURE USE.
This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.
What To Do If You Find A Mistake On Your Statement
If you think there is an error on your statement, write to us at:
PO Box 3742, Lafayette LA 70502
You may also contact us on the Web: www.MidSouthBank.com
In your letter, give us the following information:
• Account information: Your name and account number.
• Dollar amount: The dollar amount of the suspected error.
• Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.
You must contact us:
• Within 60 days after the error appeared on your statement.
• At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong.
You must notify us of any potential errors in writing [or electronically]. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.
What Will Happen After We Receive Your Letter
When we receive your letter, we must do two things:
1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is correct.
While we investigate whether or not there has been an error:
• We cannot try to collect the amount in question, or report you as delinquent on that amount.
• The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
• While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
• We can apply any unpaid amount against your credit limit.
After we finish our investigation, one of two things will happen:
• If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
• If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.
If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.
If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.
Your Rights If You Are Dissatisfied with Your Credit Card Purchases
If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase. To use this right, all of the following must be true:
1. The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these are [Sic; should be "is"] necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
2. You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your credit card account do not qualify.
3. You must not yet have fully paid for the purchase.
If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing [or electronically] at:
PO Box 3742, Lafayette LA 70502www.MidSouthBank.com
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay, we may report you as delinquent.
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