Visa, Inc
Small-Print 3% Fee on Checks Advertised at 1.99% APR

Visa, Inc. sent a letter from Elan Cardmember Service on Comerica Bank letterhead offering 1.99% in bold black type through March. The letter stated in bold, "You'll receive a low 1.99% APR (again in bold) through March with these checks. After March, the remaining balance you have will be charged 7.99% for purchases." This was the end of the letter, and it was signed by Michael J. Aust, Director, National Retail Banking.

At the bottom of these checks, in small print, they would charge a Promotional Discount Transaction Fee (Finance Charge) of 3%. I used a check and only then realized a 3% charge was added when I received my bill. Why did they attempt to disguise the 3% charge by having it at the very bottom, not in the letter itself, and in small print, not in bold black like the 1.99% on top?

Also, I am a senior citizen and trusted this offer when it came on Comerica Bank letterhead.

Company: Visa, Inc
Country: USA

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