Effective August 1, GE MONEY BANK has launched a new credit card, VISA Global, with a low effective interest rate, a grace period and no monthly fee, the bank’s press service has reported. The card cost is contingent on behaviour based pricing. Clients who regularly use the card within the first year and make timely payments will automatically receive an offer to cancel the annual fee for account keeping. The VISA Global card is a revolver credit card, based on the VISA Classic card. The revolving credit limit is from R20,000 to R150,000. The grace period applies to cashless payments and lasts up to 55 calendar days. The annual rate is 28%. The annual cost of account keeping — R975.
Source: WWW.NOVECON.RU, August 28, 2007
