I am thinking of getting a paypal credit card, but the terms mean nothing to me. please help me with the rates and stuff so i can see if i want one or not.
Which bank, which credit card, which country, all have their own Terms and Conditions. You may want to give us some figures to comment?
THE KEY CREDIT TERMS PAYPAL PLUS CREDIT CARD Annual Percentage Rate (APR) for Purchases 14.24% 17.24% 20.24% 23.24% Delinquency Rate* 32.24% Cash APR 26.24% Variable Rate Information The Annual Percentage Rate for Purchases may vary and will equal the prime rate plus (i) 5.99%, but not less than 12.24% for Account Type 1; (ii) 8.99%, but not less than 15.24% for Account Type 2; (iii) 11.99%, but not less than 18.24% for Account Type 3; or (iv) 14.99%, but not less than 21.24% for Account Type 4. The Annual Percentage Rate for Cash Advances may vary and will equal the prime rate plus 17.99%, but not less than 20.99%. The Delinquency Rate may vary and will equal the prime rate plus 23.99%, but not less than 26.99%. The "prime rate" for a billing period is the highest bank prime loan rate as published in The Wall Street Journal in its Money Rates section on any business day of the three calendar months preceding the first day of the billing period. Grace Period for Repayment of the Balance for Purchases At least 20 days, if there is no previous balance or balance is paid in full, otherwise none. Method of Computing the Balance for Purchases Average Daily Balance (including New Purchases) Minimum Finance Charge $1.50 USD Transaction Fee for Convenience Checks or Cash Advances The greater of $5.00 USD or 3.0% of the amount of the Convenience Check or Cash Advance Transaction Fee for Balance Transfers The greater of $5.00 USD or 3.0% of the amount of the Balance Transfer, but no more than $75.00 USD Foreign Transaction Fee 3.0% of the Transaction Late Payment Fee: The Late Payment Fee will be $19.00 USD for a Balance of $200.00 USD or under and $39.00 USD for a Balance over $200.00 USD. (Balance means the Account balance at the time the Late Payment Fee is posted to your Account.) Returned Check Fee: $35.00 USD; Overlimit Fee: $35.00 USD