IberiaBank Visa Gold Cash Back Rewards Card
Annual Percentage Rate for Purchases.
A variable APR will apply to balances attributable to purchases:
9.75%, 13.25%, or 16.25% as of 6/1/09, depending on your creditworthiness.

Annual Percentage Rate for Balance Transfers
1.99% APR for 6 billing periods from the posting date of the balance transfer check, after that 9.75%, 13.25%, or 16.25% as of 6/1/09 based on your creditworthiness. *

Other APRs
A variable APR will apply to balances attributable to cash advances and convenience checks:
13.75%, 17.25%, or 20.25% as of 6/1/09, depending on your creditworthiness.
Default APR: 22% on all balances**.

Variable Rate Information
Your APRs may vary. The rates are determined monthly by adding the Index (described below) and the following spreads:
6.50%, 10.00%, or 13.00% per annum, depending on your credit worthiness, for the APR for credit card purchases.
10.50%, 14.00%, or 17.00% per annum, depending on your credit worthiness, for the APR for cash advances and convenience checks.
The Index for each billing cycle is the highest ( U.S. ) “Prime Rate” published in the Money Rates table of The Wall Street Journal during the calendar month immediately preceding the calendar month in which the billing cycle ends. If the index has changed, the new variable rates will take effect as of the first day of the billing cycle.

Grace Period for Repayment of Balances for Purchases:
You have 25 days to repay your balance for purchases before a finance charge on purchases will be imposed. If the new balance is not paid in full within 25 days, a finance charge will apply to both the balance remaining (including current billing cycle transactions) and to all transactions during succeeding billing cycles until the new balance is paid in full.

Method of Computing the Balance for Purchases:
Average daily balance method (including current transactions). The finance charge for a billing cycle is computed by applying the "Monthly Periodic Rate" to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. To get the "Monthly Periodic Rate" applicable to the current billing cycle, the APR in effect is divided by 12. Each daily balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases made on your account, and subtracting any payments as received and credits as posted to your account, but excluding any unpaid Finance Charges.

Annual Fees:
None.

Minimum Finance Charge:
$1.00

Transaction Fee for Purchases:
None

Transaction Fee for cash advances:
All cash advances (excluding balance transfers)
5% of the amount of the advance, but not less than $5.00, no more than $100.00.

Transaction Fee for balance Transfers:
2% of the transfer amount

Other Fees:
Late Payment Fee:
$15.00 for balances less than $100.00
$29.00 for balances of $100.00 to $1000.00
$35.00 for balances greater than $1000.00
Over-the-Credit-Limit Fee: $35.00
Insufficient Check Fee: $35.00
Foreign Transaction Fee: 2% of the transaction amount for all transactions where the merchant country is not the United States, regardless of whether a currency conversion occurs.


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What is a balance transfer?
A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%) for a set period. It does not have to be the entire amount. The card receiving the balance will an interest rate for a set term, normally 6 months, but can be 9 months or even a year. Take a look at the current balance transfer deals currently available. This will give you a flavour of the typical kind of deal available. Consider Chase Credit cards for balance transfers.

Should I apply for a balance transfer to a low apr credit card?
It is important to remember that a balance transfer does not mean that the debt has gone away. It just means you are not paying interest on it. You will still have to maintain payments.
This may seem obvious but many people do not get this straight in their mind.
The basic criteria for getting a balance transfer is when you regularly have an outstanding balance after making your monthly payments. This is the amount you should look to transfer to another card. This will mean that for the period of the offer you will pay no interest on the balance (provided you make the minimum payments).
You should be very wary of taking up a balance transfer, if your overall debt is increasing. A balance transfer is not a green light to spend more money. The money you save should be used to decrease your debt.