Thread Options
#2258146 - 08/12/21 04:36 PM Credit Card Statements - Periodic Rate
City Girl Offline
100 Club
Joined: Sep 2005
Posts: 141
Midwest
Is a periodic rate for Purchases and Cash required to be disclosed on a credit card statement?

Return to Top
Lending Compliance
#2258194 - 08/13/21 02:07 PM Re: Credit Card Statements - Periodic Rate City Girl
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,417
Bloomington, IN
https://www.bankersonline.com/regulations/12-1026-007#b4

i. If the consumer's account has both a purchase feature and a cash advance feature, the creditor must disclose the annual percentage rate for each, even if the consumer only makes purchases on the account during the billing cycle.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z