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From: hlb@loral.UUCP
Newsgroups: net.invest
Subject: Re: VISA and Mercantile Trust
Message-ID: <1010@loral.UUCP>
Date: Tue, 28-Jan-86 11:10:32 EST
Article-I.D.: loral.1010
Posted: Tue Jan 28 11:10:32 1986
Date-Received: Sat, 1-Feb-86 03:48:41 EST
References: <730@decwrl.DEC.COM>
Lines: 19

In article <730@decwrl.DEC.COM>, clayton@mary.DEC (Cluster Verification, 261-3917, NIO/B2) writes:
> 
> 
> 	They do have a finance charge, and it is based on your "average daily
> balance" for the month, so in a sense you could call it interest on your
> purchases from time of use, except it isn't considered interest (no tax
> benefit).  The amount of the charge is 1.65% (19.8 annual) for balance under
> $1,000 or .833% (10 annual) for a balance over $1,000 NOT TO EXCEED 1.50 per
> month.  So there is a ceiling of $18.00 per year.  Since I use my card for
> 
> 	Mercantile Trust Company
> 	PO Box 306
> 	St. Louis, MO  63166
> 
> Elizabeth
> ....decwrl!dec-rhea!dec-vicki!clayton	

NOT TO EXCEED 1.5 should read 1.5% thus it would not have an $18.00/yr
cap.  The $18.00/yr cap would imply $1.50 x 12 months.