WACHOVIA CREDIT CARD RATE FALLS TO 10.4 PERCENT
WACHOVIA CREDIT CARD RATE FALLS TO 10.4 PERCENT ATLANTA, Nov. 15 /PRNewswire/ -- The interest rate on Wachovia's
Prime Plus credit card fell today to 10.4 percent, one of the lowest credit card interest rates in the country and the lowest rate offered by a major national card issuer.
Prime Plus, available on Visa and MasterCard regular and gold cards, was introduced in March at a rate of 11.9 percent. The rate has fallen since then in tandem with the prime rate. The Prime Plus credit card rate is calculated by adding 2.9 percent to the prime rate. The annual fee for this card option is $39 for the regular card and $49 for the gold card. "We have been pleased with consumer reaction to this variable-rate alternative to bank card financing," said Jerry D. Craft, head of Wachovia Bank Card Services in Atlanta. "It offers consumers a convenient and flexible method of reducing credit card expenses, particularly for those individuals who regularly carry a balance on their credit card accounts." New Wachovia customers may choose Prime Plus or one of two other credit card rate/fee options that also offer competitive interest rates and pricing: 14.98 percent with a $25 annual fee or 17.98 percent with a $15 annual fee. Current credit card customers can switch to the Prime Plus option at any time. There is a $15 conversion fee when changing to another option if the new interest rate is lower than the rate on the current option. The Prime Plus interest rate is set at 2.9 percent above the prime rate as published in The Wall Street Journal on the 15th day of each month (or the next business day if the 15th falls on a weekend or holiday). The Prime Plus credit card is available through Wachovia Bank offices in Georgia and North Carolina and nationally through Wachovia Bank Card Services, Wilmington, Del. -0- 11/15/91 /CONTACT: Donald C. Guthrie, Wachovia Bank of Georgia, 404-332-4237/ (WB) CO: Wachovia Corporation; Wachovia Bank of Georgia: Wachovia Bank Card Services ST: Georgia, North Carolina IN: FIN SU: DF -- CH007 -- 1619 11/15/91 14:31 EST
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|Date:||Nov 15, 1991|
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