Reading Your Statement
Your statement has been revised to help make managing your Visa account easier. This guide is provided to assist you in locating the new information on your statement. If you have any questions, please call (360) 662-2000 or (800) 442-5852 to speak with a credit union representative.
Account Activity During Statement Period
We have categorized your transactions for easy viewing as follows:
- Fees charged (credit union and transaction fees, if applicable).
- Interest charges will be displayed by balance type and include the total interest charge for the statement period.
- Payments and other credits.
- Purchases, cash advances, balance transfers.
Managing Your Credit Card Balance
If you carry a balance from month to month, you will now have information provided about how long it will take for you to pay off the ending balance. This calculation uses a few assumptions that will not change in the calculation, such as: the ending balance on this statement, the rate of interest reflected on this statement, that no further transactions will be added, and you will make at least the minimum monthly payment each month. The amounts reflected are estimates only and are based on the above assumptions.
The new information includes:
- The length of time it will take for you to pay off your current ending balance if you make only the minimum payment required each month.
- The payment that you would need to make each month if you wanted to pay off your ending balance in 36 months.
- The potential savings you may expect if you were to pay the ending balance off in 36 months.
Year-to-date Fees and Interest
A summary reflecting year-to-date fees and interest charges is included on your statement. This summary takes into account all of the fees and interest charges and credits applied to your account cumulative through the calendar year.
Other Changes That Will Affect Your Account
The following will also make managing your account easier:
- We have expanded the timeframe for receipt of payments that will be credited to your account on the day of receipt. If we receive your check payment at the address shown on your statement or in one of our branches by 6 p.m. local time or if you initiate an electronic payment by 6 p.m. PT, your payment will be credited on that same day.
- You will now have the same payment due date every month. Your payment will always be due on the 27th of each month.
- Effective March 28, 2010, all nonpurchase transactions on your Visa account will be considered Cash Advances and as such are subject to interest charges from the date the transaction posts to the account. This includes, but is not limited to overdraft transfers, transfers made in person, transfers completed on-line or over the phone, and withdrawals made in person or at an ATM.
Your monthly statement has been revised to make managing your account easier.
- More balance pay down information.
- Interest savings calculations.
- Year-to-date totals for interest and fees.