Higher rates are often charged for cash advances Also, if you fail to live up to any of the terms of your credit card agreement, you may then be charged interest at a much higher default rate For example, if you make a late payment, exceed your credit limit, or bounce a payment check, then the account may switch to the default rate Review the following sample credit card disclosure box. Then answer the questions that follow Interest Rates and Fees As required by law, rates, fees, and other costs of this credit card offer are disclosed here. All account terms are governed by the Credit Card Agreement sent with the card. Account terms are not guaranteed for any period of time; all terms, including the APRs and fees, may change in accordance with the Agreement and applicable law Annual Percentage Rate The introductory rate (see notes below) is 2.99% until the first billing after the six-month anniversary of opening the account. (APR) for purchases After that, your rate will be 8.99% (variable rate) Balance transfers: The introductory rate is 0% until the first billing after the six-month Other APRs (all other APRs are variable) anniversary of the opening of the account. After that, your rate will be 8.99% Cash advances: 20.99% Default rate: 27.99% (see notes below) Variable-rate information Your APRs may vary during each billing period. The rate for purchases and balance transfers is determined by adding 4.99% to the prime rate (see notes below). The rate for cash advances is determined by adding 16.99% to the prime rate, but such a rate will never be below 20.99%. The default is determined by adding no more than 23.99% to the prime rate Not less than 21 days if you pay your total new balance in full each billing period by the due Grace period for date. Payment must be received by 5:00 PM on the due date. There is no grace period for repayment of purchases balance transfers and cash advances Method of computing the Average daily balance (including new purchases balance $35 Annual fee Minimum finance charge $1.50