MasterCard Frequently Asked Questions

Fees and Charges

How is my rate determined?

Your specific rate will be dependent upon your credit rating and other factors. In order to determine if you qualify for a lower rate you may submit an application on an annual basis. Contact our Consumer Lending Department at 210-945-3300 (San Antonio), 512-833-3300 (Austin) or 1-800-580-3300 (toll free) for more details.

What is the minimum payment, and how is it determined?

The minimum payment is equal to 2% of the new balance or $25, whichever is greater.

What is a default rate?

Your APR may vary if you default under this card Agreement that you have with us, when you become 60 days past due. In such circumstances, we may increase your APR (including promotional rates) on all balances to a default rate of 15.7% APR. The penalty APR applies until you make six consecutive minimum payments when due.

How are interest charges calculated?

We calculate the INTEREST CHARGE on your account by applying the periodic rate to the “average daily balance” of your account (including current transactions). To get the “average daily balance,” we take the beginning balance of your account each day, add any new purchases, cash advances, and fees and subtract any payments or credits and exclude any unpaid Interest Charges. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the “average daily balance.”

What is the late fee?

If you do not pay your minimum payment within fifteen (15) days following your payment due date, you will be charged a late fee of up to $18.

Is there a cash advance fee?

No. There is no cash advance fee. However, please note that interest charges begin to accrue for cash advances, including convenience checks, on the date of the cash advance, or the first date of the billing cycle, in which the cash advance is posted, whichever is later. There is no grace period on cash advances.

Do I earn Cash Back or Star Points on cash advances?

No, cash advances do not qualify for Cash Back or Star Points.

What amount am I liable for if I lose my card?

Provided you meet the conditions listed below, your maximum liability for unauthorized use of your card will not exceed $50 and you will not be liable for any unauthorized use that occurs after you notify us (or our designee) at the address or telephone number below. You may be held liable for the unauthorized use of your card. You will not be held liable for unauthorized use of your card if you notify Customer Service Lost/Stolen department, PO Box 30495, Tampa, FL 33630, Telephone Number: 1-866-839-3485, orally or in writing, upon learning of the loss, theft, or unauthorized use of your card and all authorized card uses meeting the following conditions:

  1. you exercised reasonable care with the card;
  2. you have not reported two or more incidents of unauthorized card use within the previous twelve months;
  3. you have maintained your account in good standing.

The foregoing limitation does not apply in the following cases:

  1. card use from which any cardholder receives a benefit and
  2. use of the card by a person with actual, implied, or apparent authority. Additionally, the foregoing limitation does not apply to ATM cash advances.

How are foreign transactions handled and is there a fee?

The rate used to convert a foreign currency to U.S. dollars is either a government mandated rate or a wholesale rate (increased by a percentage determined by MasterCard). The currency conversion rate that MasterCard uses for a particular transaction is the rate in effect when the transaction is processed and may differ from the rate in effect on the purchase date or the statement posting date. RBFCU does not charge any fees for foreign currency transactions.