Credit Card Terms and Conditions

 

CONNECT Classic

CONNECT Select

Annual Percentage Rate (APR)

16.99%

14.99%

Penalty APR

21.00%*

21.00%*

Annual Fee

none

none

Grace Period

25 days
(to avoid periodic finance charges on purchases, the total payoff amount must be received by the payment due date)

none

Credit Lines up to

$10,000

$10,000

Balance Transfer Fee

none

none

Minimum Finance Charge

none

none

Method of Calculating Balance

Average Daily Balance (including new transactions)

Average Daily Balance (including new transactions)

Monthly Payment

Minimum 5% of new balance but not less than $25.00

Minimum 5% of new balance but not less than $25.00

Cash Advance Fee

2% of the amount of the cash advance; $10.00 maximum**

2% of the amount of the cash advance; $10.00 maximum**

Late Payment Fee

$17.50

$17.50

Over-the-Limit Fee

$25.00

$25.00

Returned Check Charge

$25.00

$25.00

Term

Open-end, reviewed in twelve (12) months

Open-end, reviewed in twelve (12) months
 

Both cards give you the option to use our online banking, mobile banking, and telephone banking systems to get payment information and transaction detail. To help you plan, manage, and budget your personal finances, First IB also offers FinanceWorks at no cost through the online banking site.

If you have a First IB checking account, your CONNECT card will be fully integrated. You will be able to:

View your card information along with your other accounts – no separate login required!

Make a real-time credit card payment by transferring funds from your checking account – no need to mail a check or worry about late fees!

Advance funds from your card to your checking account 24 hours a day – and the funds are available for immediate withdrawal at any PLUS® ATM!

*If you fail to make two (2) minimum monthly payments by the payment due date in any six (6) month period, exceed your credit limit twice in a six (6) month period, or make a payment to us that is not honored, we may increase your annual percentage rate to the penalty rate of 21%.  The rate increase will remain in effect until six (6) consecutive payments have been received by the payment due date and you do not exceed your credit limit during that time.

**Internet transactions are exempt from the cash advance fee.

Rates last updated 12/18/2009. Rates are subject to change on any day and will be updated by 10 AM Eastern. Please be sure to check this page after 10 AM Eastern for the rate that will be honored today. Information in this disclosure effective 08/20/09 and subject to change.

Government regulations require that we make the above disclosures available to you before you apply for a credit card. If you are unable to print this disclosure and accompanying credit card agreement, First IB will supply you with a printed copy of each upon request. You may call us toll-free at (888) 873-3424 during normal business hours. Write to us at:

First Internet Bank 
PO Box 80508
Indianapolis, IN 46280