Frequently Asked Questions and Answers Credit Cards information

 How do I apply for a credit card?
CardsBull.com allows you to search for a credit card based on category, issuer, or credit rating so you can find the type of credit card best suited for your needs. Once you find the credit card that best suits your needs, simply click on the "Apply Now" button where you will be directed to the bank’s official application page and fill out the secure online application.

 I’ve never had a credit card before. What should I do?

Getting a credit card and using it responsibly is one of the easiest and most effective ways to build your credit score.CardsBull's Credit quality section  can help you find the right card for you. No matter which type of card you end up getting, you can build your credit by using it consistently and paying the bill on time and in full every month.

What's an annual percentage rate (APR)?

An APR is the interest charged on a credit card expressed as an annualized amount. What's an interest charge, and when does it occur? An interest charge is the sum of interest on your credit card account. It is broken down by transaction type: purchases, cash advances, and balance transfers. If you pay less than the full balance, pay after the payment due date, or if your credit card does not have a grace period, then you will pay interest on those purchases. Please note, cash advances and balance transfers have no grace period, which means they start accruing interest as soon as the transaction is made. This will result in interest due, even if your balance is paid in full.

What's a periodic rate?

A periodic rate is a rate of interest charge that may be imposed by a creditor on a balance for a day, week, month, or any subdivision of a year.

What's a prime rate?

A prime rate is the rate of interest a bank offers to its most creditworthy customers. The U.S. Prime Rate, as published daily by the Wall Street Journal, is based on a survey of the prime rates of the 10 largest banks in the United States and is often used as the index for a variable interest rate on a credit card.

Why do we ask for your country of citizenship?

As a federally regulated bank, we are required to know our customers. We ask for your country of citizenship as part of this requirement.

What should I know about direct deposits from my credit card?

You can request a direct deposit from your credit card to a checking or savings account up to your total credit available. You can do this by logging into Online Banking and going to the Customer Services tab. Under the Credit Card section you will find a link to complete a direct deposit. It may take up to five days to process. Please note that your total credit available may be affected by any outstanding checks you have written, purchases you have made or recent advance requests. Check your Credit Card Agreement for any applicable transaction fees. For your security, all direct deposits from your credit card made online require you to provide two pieces of information you can find on the credit card.

What's a cash credit line?

The total credit line is the amount of credit available for the account; however, only a portion of that is available for bank cash advances. The cash credit line is that amount you have available for bank cash advances. Generally, bank cash advances consist of ATM cash advances, over the counter (OTC) cash advances, same-day online cash advances, overdraft protection cash advances, cash equivalents, returned payments and applicable transaction fees.

What does "cash credit line available" mean?

Your cash credit line available is the amount of money on your credit card that is currently available for you to use for bank cash advance transactions. Keep in mind that any bank cash advance transactions you have made but have not yet been processed should be subtracted from your cash credit line available.

How do I know the amount of my cash credit line?

You can view your cash credit line on your statement, in Online Banking on your credit card Account details page or by calling customer service.

What happens if I go over my cash credit line?

If you exceed your cash credit line, you will not be able to make any more bank cash advance transactions until you have paid your balance below the cash credit limit. There is no account penalty if you go over your cash credit line. Exceeding the cash credit line will not result in a fee or a higher APR, but you may have declined transactions.

Will I receive a confirmation number when completing a balance transfer?

You won't receive a confirmation number, but you'll know your balance transfer request has been successfully submitted by the confirmation page that displays once you complete the form. Remember, if your request is approved, it can take up to 10 business days for an online balance transfer to post to your account. Please do not resubmit your request online. Your available credit amount may not include recent purchases, advances or transfers. Your balance transfer amount cannot exceed your available credit, so be sure to plan for applicable fees and interest charges when determining your transfer amount.

Can I use my credit card at an ATM in a foreign country?

Yes. The largest networks are the MasterCard/Cirrus, Visa/Plus and American Express networks which have ATMs worldwide in more than 100 countries. Remember these 3 important considerations when using foreign ATMs: Some foreign ATMs are only available during normal business hours Many foreign ATMs offer instruction in English, but not all of them Your PIN must be 4 digits. Some ATMs do not accept PINs longer than 4 digits. *Please note that some business card accounts may not have cash availability. Please check with your Authorized Contact or Program Administrator before you leave the country.

Is it possible to increase my credit limit on my credit card prior to going on my trip?

You may request an increase to your credit limit by signing in to Online Banking, navigating to the Information & Services tab for your account and following the instructions. You may also contact Customer Service by dialing the toll-free number on the back of your card **Note to business cardholders, You will need to contact the business owner to have your request submitted by your Authorized Contact or Program Administrator.

What are the fees for using a credit card in a foreign country?

For detailed information on fees, refer to your most recent Credit Card Agreement and any recent amendment(s) or contact us at the toll free number on the back of your card.

What are some tips for using an ATM in foreign countries?

ATMs can be used to get foreign currency while traveling and may save you money when compared to buying currency at exchange rate booths. Despite the advantages, you need to be prepared for special circumstances that can arise when using an international ATM. Here are a few tips to help you on your way: Check the network: Check your card's network. Cards in the Cirrus and Maestro networks often feature ATMs with easy-to-read instructions in English. Bank of America belongs to the Global ATM Alliance. Research the country: There are some countries where ATM transactions are blocked. Please research the country to verify whether you will be able to use your credit card. Understand the types of fees charged: Fees may be incurred for using the ATM and there may also be fees for currency conversion and cash advance. It is usually better to make fewer larger transactions instead of multiple smaller ones. Make sure your PIN is valid: Some ATMs only allow 4-digit PINs. If your current PIN is longer than 4 digits, you may need to get a new PIN before you start your trip. Have a backup plan: Some ATMs limit your access to a primary checking account, so have an alternative means of making purchases such as using foreign currency, traveler’s cheques or a debit card. Additional tips: Remember that not all foreign ATMs offer instructions in English. If you are unable to use a foreign ATM, you may be able to use your credit card to make a cash advance at a local bank. Finally please note that some business card accounts may not have cash availability; check with your Authorized Contact or Program Administrator before you leave the country. What travel benefits do I get with my credit card For information on travel benefits, contact us at the toll-free number on the back of your card and speak to an associate. For detailed information, ask the associate for a copy of your most recent Credit Card Agreement or benefits guide.

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