Compare the interest rate you payon other
credit cards withMchovia's new Prime-Phis rate.
? - ? ' * Y
Wachovia is introducing a new approach to credit
card interest rates that lets you save on finance
charges, and makes the Wachovia MasterCard
the one card you'll want to have.
Here's how it works. After July 1, 1983 all
new and existing MasterCard customers will
be able to benefit from a new floating interest
rate based on Wachovia's prime rate plus 5%.
The rate can vary monthly but under present
law cannot exceed an 18% annual percentage
rate (APR). So this Prime-Plus rate can mean a
substantial savings from the rates charged by
most other financial institutions.
For example, if the new Prime-Plus Master
Card rate had been applied for the month of
June, interest-paying MasterCard customers
. would have been eligible to be charged just
15V2% APR instead of the 18% in effect for a
number of years.
Even if the prime rate should go up, the
interest you pay will not exceed the current
18% APR ceiling. , v;"
Like many other bank cards, the Wachovia
MasterCard is available for an annual fee
of $18. But unlike other banks, Wachovia's
approach lets you enjoy the benefits of a
favorable prime rate environment, while
still enjoying the protection of an interest
rate ceiling.
The chart will show you how the new
Prime-Plus rate structure can offset all or
part of the fee.
Why Wachovia Prime-Plus MasterCard
is the one bank credit card to carry.
If Your
Balance
Subject
lb Finance
Charges Is:
$ 250
$ 500
$1000
$2500
And The Prime Rate Is:
12%
10%%'
You Would Be Charged This Prime-Plus Rate:
17% APR
15%% APR
13% APR
$ 2.50
5.00
10.00
25.00
Your Annual Savings Would Be:**
| $ 6.25 $ 12.50
12.50 25.00
25.00 50.00
62.50 125.00
'The Wachovia MasterCard prime rate thai would haw been in effect for June. 1983.
' 'Comparison based on the 18% APR ceiling currently permitted by North Carolina law and commonly charged for revolving
credit by North Carolina financial institutions. Other states may have different regulations and even higher rates may be
charged. For illustrative purposes, the chart assumes a constant prime rate and a fixed balance subject to finance charges.
The prime lending rate is set by Wachovia from time to time as its interest rate basis for commercial borrowers. This
rate may vary with economic conditions.
You can save even more by consolidating
all your bank cards and charge accounts into
your Wachovia MasterCard. If you now have
a Wachovia MasterCard, ask your Personal
Banker about using Prime-Plus MasterCard
to reduce or pay off those more expensive
cards and accounts. And start saving money
on interest.
If you're not now a Wachovia customer, stop
. by any Wachovia office and ask a Personal
Banker about the new Wachovia Prime-Plus
MasterCard. Or call toll-free 1-800-672-0111
for an application.
lAfnnhnifia