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IberiaBank Visa Classic
No annual fee
1.99% balance transfers
Annual Percentage Rate for Purchases.
A variable APR will apply to balances attributable to purchases:
8.75%, 12.25%, or 15.25% as of 6/1/09, depending on your creditworthiness.
Annual Percentage Rate for Balance Transfers
1.99% APR for 6 billing periods from the posting date of the balance transfer check, after that 8.75%, 12.25%, or 15.25% as of 6/1/09 based on your creditworthiness*
A variable APR will apply to balances attributable to cash advances and convenience checks:
12.75%, 16.25%, or 19.25% as of 6/1/09, depending on your creditworthiness.
Default APR: 22% on all balances**.
Variable Rate Information
Your APRs may vary. The rates are determined monthly by adding the Index (described below) and the following spreads:
5.50%, 9.00%, or 12.00% per annum, depending on your credit worthiness, for the APR for credit card purchases.
9.50%, 13.00%, or 16.00% per annum, depending on your credit worthiness, for the APR for cash advances and convenience checks.
The Index for each billing cycle, is the highest ( U.S. ) “Prime Rate” published in the Money Rates table of The Wall Street Journal during the calendar month immediately preceding the calendar month in which the billing cycle ends. If the index has changed, the new variable rates will take effect as of the first day of the billing cycle.
Grace Period for Repayment of Balances for Purchases:
You have 25 days to repay your balance for purchases before a finance charge on purchases will be imposed. If the new balance is not paid in full within 25 days, a finance charge will apply to both the balance remaining (including current billing cycle transactions) and to all transactions during succeeding billing cycles until the new balance is paid in full.
Method of Computing the Balance for Purchases:
Average daily balance method (including current transactions). The finance charge for a billing cycle is computed by applying the "Monthly Periodic Rate" to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. To get the "Monthly Periodic Rate" applicable to the current billing cycle, the APR in effect is divided by 12. Each daily balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases made on your account, and subtracting any payments as received and credits as posted to your account, but excluding any unpaid Finance Charges.
Minimum Finance Charge:
Transaction Fee for Purchases:
Transaction Fee for cash advances:
All cash advances (excluding balance transfers)
5% of the amount of the advance, but not less than $5.00, no more than $100.00.
Transaction Fee for balance Transfers:
2% of the transfer amount
Late Payment Fee:
$15.00 for balances less than $100.00
$29.00 for balances of $100.00 to $1000.00
$35.00 for balances greater than $1000.00
Over-the-Credit-Limit Fee: $35.00
Insufficient Check Fee: $35.00
Foreign Transaction Fee: 2% of the transaction amount for all transactions where the merchant country is not the United States, regardless of whether a currency conversion occurs.
DID YOU KNOW?
Online lenders can get you instant approval for a vehicle loan, helping you get a car after a bankruptcy with no problem. With a consolidated loan process, financing companies can access your credit records and match you with the right lending package. To get the best rates though, do a little comparison shopping first.
Fast Shopping With Auto Loan Brokers
Car loan brokers make shopping for vehicle loans super fast. Through an electronic system, they can connect you to multiple quotes from different financing companies. You save time by not having to track down individual sites and enter your information separately.
When you look at the car loan offers, compare the APR. That way you won't get stung on unexpected fees. Also ask about any early repayment fees. Plan to leave yourself the option to refinance when your credit improves. Remember too that most fees are negotiable.
Speedy Online Car Loan Application Process
Nearly all lenders allow an online application, which makes the process go a lot quicker. In most cases, you will not need to submit copies of bank statements or other information. You will however need to give the lender permission to access such records as your credit report and verify your information.
If you have time, it is a good idea to check your credit report after a bankruptcy. Make sure that all accounts are accurate and up to date. Accounts involved with the bankruptcy should be shown as discharged. Also, make sure that your current positive credit records are also correct.
Instant Car Loan Approvals Online
Instant vehicle loans can be approved in as little as 15 minutes. Usually you will receive either an email or phone call to verify your application. Then the funds and paperwork will be processed.
You can expect a blank check and loan forms in a couple of days. After you have submitted the paperwork and signed over the check to the car seller, your loan is complete. Payments will start in a matter of weeks.
Bankruptcy doesn't have to be an obstacle to buying a car. With a careful search, you can get reasonable rates for your new set of wheels.
Debt consolidation mortgage loans can help you lower your interest rates and monthly payments. With reduced rates, you can also pay off your debt sooner. However, reducing your equity could subject you to private mortgage rates. You may also end up spending more on interest payments by delaying payments.
Saving With Mortgage Interest Rates
Mortgage interest rates are much lower than credit card or unsecured loan rates. Consolidating your debt with a refinanced mortgage or home equity will reduce your payments simply by having a lower rate. By paying the same monthly payments, you can pay off your debt rapidly.
Your interest is also tax deductible with a mortgage or home equity loan, where your credit card interest isn’t. Student loan interest is also tax deductible and shouldn’t be consolidated for a higher rate.
Reducing Your Payments
Consolidating with a loan also allows you to reduce your payments by picking longer terms. So if your income is reduced or you have other financial obligations, lengthening your payments can give you some breathing room in your budget.
Paying More In Fees And Interest
The cost of a mortgage can be more than what you are paying in interest charges if you have a small amount of debt. To refinance a mortgage, origination fees can add up to thousands. Other types of home equity loans can cost hundreds or nothing to open. You may also have to pay private mortgage insurance premiums if don’t leave 20% of your equity in tack.
Delaying payments can also add up interest payments, even with a lower rate. For example, a loan amount of $10,000 will cost $11,587.10 in interest for a 30 year loan at 6%. That same amount will cost $5,896.71 for a 5 year loan at 20%, which is what most credit card payment plans are like.
Deciding To Pay Down Debt
Consolidating your high interest credit can help pay off your debt by providing structured payments. You can also lower your interest rates, making repayment easier. However, be aware of the costs and shop around for low rates and fees. To get the most out of a consolidated loan, choose short terms to avoid making large interest payments.
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