Business Visa® Platinum Rewards Credit Card

In addition to a low interest rate and no fee for balance transfers, your business purchases with this Visa® Platinum Card earn valuable merchandise, travel and vacation rewards at no extra cost. Click here for details about the ScoreCard® Rewards program. Multiple cards are available for a single account to give you and your employees more flexibility. 

Print out our business credit card application form.  When you have completed the application, fax it to 855-5998 in Albuquerque, bring it to at any of our 14 branch offices, or call 889-7755 (800-347-2838 from outside the Albuquerque area).

SUMMARY OF CREDIT CARD TERMS

Business Visa® Platinum Rewards Credit Card

Variable Annual Percentage Rate (APR) for Purchases
10.25% to 13.25%,*determined when the account is opened, based on credit history.

Variable Balance Transfer Cash Advance APR
10.25% - 13.25%, determined when account is opened.*

Fixed Penalty APR              
18.00%**

Variable Rate Information                
Your APR may vary each quarter and is determined by adding the Prime Rate published in the Wall Street Journal (the Index Rate) to a margin determined when your account is opened, ranging between 7.00% and 10.00%. 
*** The APR will never be less than 10.00% or more than 18.00%.

Grace Period for Repayment of Balances for Purchases
25 days, on average, from the date of the periodic statement (provided you have paid your previous new balance in full by the due date).

Method of Computing the Balance for Purchases
Average Daily Balance (including new purchases)

Annual Fee           
None.  $20 Inactivity Fee waived if card is not used at least four times during the year.

Minimum Finance Charge                 
$1

Other Fees
Late payment fee: $30
Over-the-credit-limit fee: $30

*The information provided above is accurate as of 4/1/09 The variable rates and terms may change after this date. For current rate and fee information, call 889-7755 (800-347-2838 from outside the Albuquerque area).

**Penalty Rate applies to new and outstanding account balances if you make 3 late payments to New Mexico Educators Federal Credit Union within any 12 consecutive billing cycles or fail to make a required payment within 25 days after its payment due date. Default Rate will remain in effect for 6 consecutive billing cycles after the billing cycle in which the entire past due payment is due.

***The Index Rate used to determine your APR is the rate published on the 5th day of the month preceding the change date.