Change in terms 2025
We are making the following important updates to product terms and pricing of your credit card account, effective June 16, 2025:
| What's changing? | Before June 16, 2025 | Starting June 16, 2025 |
| Annual Card Fee - Classic Card* | Primary Card Annual Fee: $0 | Primary Card Annual Fee: $20 |
| Annual Interest Rate for Purchase & Fees - US Dollar | Annual Interest Rates for Purchases & Fees: 19.99% | Annual Interest Rates for Purchases & Fees: 20.99% |
| Overlimit fee (applied if the account balance exceeds the credit limit) | $29 | $35 |
| Balance Transfer Fee (administration fee for requested balance transfers from another issuer to your card) | Up to 2% of Balance Transfer amount | Up to 5% of Balance Transfer amount |
| Interest accrual calculation | (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
…
Interest charges on purchases are calculated based on the average daily balance from the date of entry of the transactions on the statement of account, until they are paid in full, at the prevailing annual interest rate indicated.
… | (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
…
Interest charges on purchases are calculated based on the average daily balance from the date on which the transaction was made, until they are paid in full, at the prevailing annual interest rate indicated.
… |
| New Account Maintenance Fee for Inactive Credit Balances | $0 | Accounts with a credit balance and no activity (no debits, credits, interest, or fees) for 12 consecutive billing periods will be charged a monthly Account Maintenance Fee. The fee charged will be the lesser amount of your credit balance or $10 and will be applied on your statement date until the balance reaches $0. |
| Credit Limit Decrease Terms | (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
… If we reduce the credit limit at any time, we will provide you with a minimum of 30 days written notice prior to such change, except as otherwise required by applicable law. ... | (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
… If we reduce the credit limit at any time, we will provide you with a notice prior to such change, except as otherwise required by applicable law. By using your card on or after the receipt of the credit limit decrease notice, you will be deemed to have accepted the changes to your contract indicated in this notice. ... |
*The annual fee according to the amended terms for current Classic cardholders will be charged according to the account’s statement anniversary date.
Updates to Cardholder Agreement
Interest on purchases will now be calculated from the transaction date, rather than the posting date.
Also, references to convenience cheques have been removed from the terms and conditions as Collabria does not offer convenience cheques to cardholders. Interest on cash advances and balance transfers will continue to be based on the average daily balance from the transaction date until full payment is received.
Section 6: Your Credit Limit
| Before June 16, 2025 | Starting June 16, 2025 |
| (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
…
If we reduce the credit limit at any time, we will provide you with a minimum of 30 days written notice prior to such change, except as otherwise required by applicable law.
… | (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
… If we reduce the credit limit at any time, we will provide you with a notice prior to such change, except as otherwise required by applicable law. By using your card on or after the receipt of the credit limit decrease notice, you will be deemed to have accepted the changes to your contract indicated in this notice.
… |
Section 14: Interest Charges
| Before June 16, 2025 | Starting June 16, 2025 |
| (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
…
We calculate interest charges on Purchases based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate.
… | (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
…
We calculate interest charges on Purchases based on the average daily balance from the date on which the transaction was made, until they are paid in full, at the prevailing annual interest rate.
… |
Section 16: How we calculate interest
| Before June 16, 2025 | Starting June 16, 2025 |
| (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
… Otherwise, interest charges will be calculated based on the average daily balance from the date of entry of the transactions on your Account statement, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier.
… | (For greater clarity, we’ve omitted the parts of this Section that remained unchanged.)
…
Otherwise, interest charges will be calculated based on the average daily balance from the date on which the transaction was made, until they are paid in full, at the prevailing annual interest rate indicated on the Card Carrier.
… |
Consumer Cardholder Agreement
Please use the scroll bar on the right to view the original Consumer Cardholder Agreement effective until June 16, 2025. If you are unable to view the following document, please click here.