12-04-2009 03:29 PM - edited 12-04-2009 03:47 PM
When I opened my mailbox today, I saw a letter from US Bank Cardholder Services. I had a feeling the reason for the letter was to discuss some change(s) to my Premier Line Plus account. I currently have two tier discount rates of 4.25% (purchases over $2000) and 5.25% (purchases over $1000). Purchases, Advances and Balance Transfers are set to a 6.25% rate. Well, that is all going to change. No more tier discount rates.
CHANGES TO YOUR FINANCE CHARGES AND ACCOUNT FEES:
For your U.S. Bank Premier Line Plus account, we are streamlining the format of your pricing. Your pricing will no longer be based on the dollar amount of your Transactions.
* Variable Rate for Purchases, Advances, and Balance Transfers. We are increasing the variable Annual Percentage Rate ("APR") we will apply to your existing and future balances posting as Purchases, Advances and Balance Transfers. Your new rate will be the Index plus 5.00% (8.25% APR with a Daily Periodic Rate ("DPR") of .02260%).
* Your minimum APR will be 7.99% (DPR of 0..02189%).
For your U.S. Bank Premier Line Plus Account we will:
* Assess a $29.00 Late Payment Fee anytime your minimum payment is not received by the due date.
These changes, unless stated otherwise, will take effect for billing periods ending on or after January 18, 2010.
BLA, BLA, BLA, BLA BLA.................