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From: clayton@vicki.DEC (Cluster Verification, 261-3917, NIO/B2)
Newsgroups: net.invest
Subject: Re: VISA and Mercantile Trust
Message-ID: <836@decwrl.DEC.COM>
Date: Fri, 31-Jan-86 08:53:00 EST
Article-I.D.: decwrl.836
Posted: Fri Jan 31 08:53:00 1986
Date-Received: Sat, 1-Feb-86 07:36:43 EST
Sender: daemon@decwrl.DEC.COM
Organization: Digital Equipment Corporation
Lines: 25

>> 
>> 	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.
>
No, it is $1.50/month cap, or $18.00/yr ceiling.  The interest rates are as 
specified (1.65% and .833%), they do not fluctuate (of course, Mercantile 
reserves the right to change them, but they haven't yet).  I will repeat
as it has been cut out - depending on how you use your card this may or
may not be a good deal for you (it is for me).

Elizabeth