Terms and Conditions
As of April 30, 2008
Annual Percentage Rate (APR) for Purchases: 14.99% variable
Other APRs
Promotional Balance Transfers*:
0% fixed for 12 months†
General Balance Transfers:
14.99% variable
Cash Advances:
23.99% variable
Default APR is either 28.99% (for all balances) or 19.99% (for Purchases and Balance Transfers) and 26.99% (for Cash Advances) based on conditions described below.‡
Variable Rate Information
The following APRs may vary based on Compass Bank Prime:**
Purchase and general Balance Transfer APR:
Compass Bank Prime** plus 9.99%
Cash Advance APR:
Compass Bank Prime** plus 18.99%.
Default APR is either a variable rate of Compass Bank Prime + 23.99% (for all balances) or Compass Bank Prime + 14.99%† (for Purchases and Balance Transfers) and Compass Bank Prime + 21.99%† (for Cash Advances), based on conditions described below.**
Other than special offer APRs, no Purchase APR ever will be less than 6.99% and no Cash APR will be less than 21.99%.
Default APRs
For any balance subject to a special reduced rate, if the minimum payment is not received by the payment due date, the reduced rate will increase to the APR otherwise applicable under the Credit Card Agreement and Disclosure Statement.
‡ Your APRs may increase if you are in default under the Credit Card Agreement for any of the following reasons: (1) If any payment under the Credit Card Agreement is not received when due, the APR for any balance subject to a special, reduced rate may adjust to the APR otherwise applicable under the Credit Card Agreement; (2) If, under the Credit Card Agreement or under any other agreement with us or any other creditor, any payment is not received when due, any credit limit is exceeded, or any payment is returned, the APRs for any Purchase and Balance Transfer balances may adjust to Compass Bank Prime + 14.99% and the APR for any Cash Advance balances may adjust to Compass Bank Prime + 21.99%; and (3) If we have not received the minimum payment under the Credit Card Agreement by the 30th day after the payment due date, the APR for all balances may adjust to a variable APR of Compass Bank Prime + 23.99%.
* The term "Balance Transfer" applies only to payments made to other creditors directly by Compass Bank, and does not include convenience checks that a cardholder may write to pay balances owed to another creditor.
† Promotional Balance Transfer APR applies only to Balance Transfers requested within 30 days of account opening. Reduced rate will apply and will continue for twelve (12) months from the date the account is opened, but may be increased as described under "Default APRs" above.
** Compass Bank Prime is a reference rate we have established for use in computing and adjusting interest and is subject to change (increase or decrease) at our discretion, and is only one of the reference rates or indices that we use. We may lend to others at rates of interest greater or lesser than Compass Bank Prime or rates provided herein and use indices other than Compass Bank Prime. You may call us at 1-800-239-5175 to check on the current value of Compass Bank Prime.
Grace period for repayment
of balance for purchases
25 days after the date of each statement to repay your balance in full before being charged a finance charge on new purchases
Method of computing the balance for purchases
Average Daily Balance including new transactions
Annual fee
None
Minimum finance charge
for domestic purchases: $1
Transaction fee for all Cash Advances (including use of the credit card account to obtain wire transfers, money orders , traveler's checks, lottery tickets, bets or wagers, and casino chips, or to make tax or other similar payments, and any use of convenience checks)
4% of the Cash Advance amount
($10 minimum)
Transaction Fee for Balance Transfers
4% of the Balance Transfer amount paid to another creditor by Compass - $10 minimum, and if Balance Transfer requested within 30 days from account opening, then $75 maximum
Other Fees
International Transaction fee:
Up to 3% of the transaction amount.
Other Fees
Late fee:
- $15 - if the Previous Balance is less than $100
- $29 - if the Previous Balance is $100 or more but less than $250
- $39 - if the Previous Balance is $1250 or more or
- $49 if variable default APR of Compass Bank Prime + 23.99% is in effect.
Over-the-Credit-Limit Fee: $39
Returned Check Fee:
- $30 if any payment on the account is returned unpaid to us
- $29 if we return any convenience check written on the account.
Stop Payment Fee: $29
Expedited Delivery Fee: the actual cost we pay for each delivery we arrange.
Document Fee: $5 for each item requested.
Skip Payment Fee: $35, if the minimum payment would have been $200 or more.
Payment Service Fee: $15.
Rate Reduction Fee: $75.
All terms of a Compass Bank credit card account are governed by the Credit Card Agreement sent with the card. Except as provided in any special offer, the account terms are not guaranteed for any period of time, and may change as provided in the Credit Card Agreement. You may write or call us for any changes to the above terms at:
Compass Bank
P.O. Box 2210
Decatur , AL 35609
1-800-239-5175
You must be a U.S. resident and at least 18 years old (19 if you are a resident of Alabama or Nebraska; 21 if you are a resident of Puerto Rico). This credit card program is not available in California, Iowa, Maine, New York or Wisconsin. Ohio Residents: The Ohio law against discrimination requires that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law. Utah Residents: You are hereby notified that a negative credit report reflecting on your credit card record may be submitted to one or more credit reporting agencies if you fail to fulfill the terms of your obligations. Delaware Residents: Service charges not in excess of those permitted by law will be charged on the outstanding balance from month to month. Maryland Residents: Finance charges will be imposed in amounts or at rates not in excess of those permitted by law.
