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richmond,#2UPDATE Employee
Sat, September 14, 2002
The overall apr that you stated came from any interest( which on a cash advance is usually 19.8, and there is no grace period on cash advances with any credit card)and any fees on the acct that statement, ex: amf, cash advance fee 3% or min 5 dollars, overlimt or even past due fees. The Federal government requires that we reflect these fees as finace charges, therefore the overall apr will usually be very high if you do a small amount of cash, or many small amounts, if you look at the total finance charge you were being charged on that statement it was probably less than one dollar, which as we all can figure out was no way 150 some percent. Hope this helps.