 Chase PerfectCardTM MasterCard®
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Balance Transfer Disclosures
You agree to allow approximately 30 days for us to process your response and transfer the balance(s) to your Chase account. Please continue to make at least the minimum payments on your other credit cards until we notify you that the balances have been transferred. Chase is not responsible for fees and finance charges incurred by you prior to your balance being transferred to Chase. Payment of the amount(s) authorized by you may or may not satisfy any outstanding balance(s) on the designated account(s). You will continue to be responsible for any balances on your other credit cards. In the event that your request(s) exceed the amount of your credit line, the bank will fulfill your requests in numeric order as listed in your response, may decline to process one or more requests and/or may complete one request in a partial amount. Chase will limit total transfer amounts to $100 less than your total credit line in order to leave part of your line available. The payment and transfer of balances is contingent upon approval by the bank and receipt of complete, legible balance transfer requests. Your balance transfer request may not be used to make payments toward amounts you owe Chase. Transfer requests to cash or to yourself cannot be processed. Balance transfers do not earn rebate rewards. Platinum MasterCard with Standard Pricing/Visa Platinum with Standard Pricing accounts are not eligible for balance transfers.
Credit Disclosures:
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Annual Percentage Rate (APR) for Purchases
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Preferred Pricing:1
13.74% for Elite Pricing, or 15.74% for Premium Pricing, or 18.99% for Standard Pricing.
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Other APRs
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Preferred Pricing1 – Balance Transfers: For Elite Pricing and Premium Pricing, fixed 0.00% introductory rate for 9 months from account opening.1 Thereafter, 13.74% for Elite Pricing, or 15.74% for Premium Pricing.
Cash Advances: 19.99% for Elite Pricing and Premium Pricing, or 23.99% for Standard Pricing.
Non-Preferred Pricing - Purchases, Balance Transfers and Cash Advances: Up to 25.99%.
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Variable Rate Information
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Your APR may vary.
Preferred Pricing1– Balance Transfers: For all purchases from account opening, and for both outstanding and new balance transfers after 9 months accounts with Elite Pricing, the rate is determined monthly by adding 9.74% (or 11.74% for accounts with Premium Pricing) to the Prime Rate.2 For all purchases from account opening for accounts with Standard Pricing, the rate is determined monthly by adding 14.99% to the Prime Rate.2
Cash Advances: The rate is determined monthly by adding 15.99% to the Prime Rate (not less than 19.99% for accounts with Elite and Premium Pricing, or not less than 23.99% for accounts with Standard Pricing).2
Non-Preferred Pricing - Purchases, Balance Transfers and Cash Advances: The rate is determined monthly and is up to the Prime Rate plus 21.99%.2
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Grace Period for Repayment of the Balance for Purchases
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Not less than 20 days |
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Method of Computing the Balance for Purchases
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Average Daily Balance (including new purchases) |
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Annual Fee
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No annual fee first year. Thereafter, the $19 annual fee will be waived if at least nine (9) purchase transactions were made in the prior year.
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Minimum Finance Charge for Purchases
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$.50 (if a finance charge is imposed) |
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Transaction Fee for Purchases in a Foreign Currency
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For Foreign Currency Transactions, 2% of the converted transaction amount. |
1Any promotional rate may change to your regular Preferred Pricing rate if any minimum payment on your Account was past due or if your Account was closed for any reason. Any promotional rate or regular Preferred Pricing rate may change to your Non-Preferred rate if any loan or account of yours with us or your other creditors was past due, your Account was overlimit or any payment on your Account was returned unpaid. All rate changes effective as of your last Statement Closing Date.
2The Prime Rate used to determine your APR is highest rate published in The Wall Street Journal on the last business day of the prior month.
Transaction Fee for Cash Advances: 3% of each cash advance ($5 minimum)
Transaction Fee for Balance Transfers: 3%, $45 maximum per transaction for balance transfers made during the introductory period. Thereafter, $75 per transaction unless otherwise disclosed to you in writing.
Late Payment Fee: $15 for a Balance up to $250.00; $35 for a Balance of $250.01 or greater ("Balance" means Previous Balance on statement that shows the late fee); and $35 when Non-Preferred rate in effect on monthly statement.
Over the Credit Limit Fee: $35.
Other fees may apply.
Chase credit cards are issued by Chase Manhattan Bank USA, National Association.
All rates disclosed in these Disclosures are accurate as of 05/01/04.
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 Apply for Chase PerfectCard MasterCard
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You’ve probably received several credit card offers in the mail, and the outside of the envelopes scream interest rates and promotional offers to try and entice you into opening it up and looking at what’s inside. Chances are, if you have an email address, you’ve even received a few credit card offers through that address- bright colors and animated graphics trying to convince you that there card has the lowest initial interest rate, or the longest transfer balance rate of all the available credit cards on the market. All of the offers will look good at first glance; after all- that’s what marketing is about, right? According to Merriam-Webster’s online dictionary, marketing is a noun used to describe “the act or process of selling or purchasing in a market, and the process or technique of promoting, selling, and distributing a product or service.” Credit card companies are in business to sell you their credit cards, and they’ll use a variety of promotional materials to get your business.
The outside of your credit card offer’s envelope might say something like, “LOW 0% Initial Interest Rate on all purchases and balance transfers”, but there is much more to how a credit card’s interest rate is calculated than that statement reveals. Initial interest rates are sometimes referred to as the card’s promotional rate, or teaser rate. In all honesty, an initial interest rate is basically the same thing for a credit card as a sale is to a retail store. Retail stores advertise their products that have a discounted price for a limited time to attempt to bring people into their establishment to buy the sale item, but also because once you are there, they hope you’ll purchase other products. Credit cards offering initial interest rates are basically putting their standard interest rates “on sale”, because for a limited time, new cardholders will receive a lower than usual rate on purchases, and sometimes also on any balance you transfer from one of your other credit cards onto this new card. What you need to understand about initial interest rates is that they really are “for a limited time”, and just as you couldn’t go to your favorite store and buy items this month for the sale price that was offered the previous month, you can’t extend a credit card’s initial interest rate beyond the terms they specify (often found in the small print!) What you’ll want to look for in the text of the materials that were sent with the initial interest rate cards promotional documents is reference to the cards ongoing annual percentage rate (APR). This is the interest rate that you will pay once the initial interest rate period has passed. (The regular price of an item after the sale has ended!)
Initial interest rates will also come with terms of agreement, in the form of a contract, which give reasons as to how or why the rate might be terminated by the credit lender. The most common reason to terminate the initial interest rate offer is for making a late payment on your card, and if you read the fine print of the credit card agreement- you’ll note that it states this very clearly. In order to keep the promotional, lower rate for the time specified by the credit card lender, you must make every payment on time. If you are late with a payment, you can expect the interest rate to jump to the ongoing APR, or in some cases, higher because you have defaulted on your contract agreements, so do everything you can to make sure your payments are made on time.
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