Common use of VARIABLE RATE ACCOUNTS Clause in Contracts

VARIABLE RATE ACCOUNTS. If your Visa account has a variable rate, your interest rate is based on the Prime Rate published in the Wall Street Journal on the last business day of the month plus a margin that is based on your creditworthiness. Your interest rate will change if the Prime Rate changes. Any changes in your interest rate will affect the amount of interest you pay and your minimum payment. The interest rate will be adjusted on the first day of the billing cycle following the prime rate change. If two rates are reported in the Journal, the higher rate will be used. Your maximum percentage rate can be 18.00% (Daily periodic rate 0.04932%). Any request for a change in your account could result in a change in your rate and terms. Please contact ECU for a copy of current rate information, or see your notification of cardholder approval for your rate.

VARIABLE RATE ACCOUNTS. If your Visa account has a variable rate, your interest rate is based on the Prime Rate published in the Wall Street Journal on the last business day of the month plus a margin that is based on your creditworthiness. Your interest rate will change if the Prime Rate changes. Any changes in your interest rate will affect the amount of interest you pay and your minimum payment. The interest rate will be adjusted on the first day of the billing cycle following the prime rate change. If two rates are reported in the Journal, the higher rate will be used. Your maximum percentage rate can be 18.00% (Daily periodic rate 0.04932%). Any request for a change in your account could result in a change in your rate and terms. Please contact ECU for a copy of current rate information, information or see your notification of cardholder approval for your rate.