Interest Charges
Minimum monthly payments (3% of the outstanding balance or $20, whichever is the greater) and any charges eligible for deferred payment will not apply until expiry of any Deferred Payment Plan but must be made during the Interest Free Term. If you make only the minimum monthly payment, you may not pay off your purchase before the expiry of the Interest Free Term. So, if you can, always pay more than the minimum amount due. Prevailing interest rate (which can be found on the Rates and Fees page at purplevisa.co.nz) applies to any outstanding balance on the expiry of the Interest Free Term.
Establishment Fee
A one-off establishment fee of $55 is charged when you open your Purple Visa Card Account. You will see the establishment fee charge on your first statement. Establishment fee is not charged during a Deferred Payment Plan but will be charged if you have other Transactions on your account that are not related to a Deferred Payment Plan.
Annual Account Fee
A fee of $55 is charged at the anniversary of your Purple Visa Card account and is for maintaining the account for the previous 12 months. It is then charged each subsequent year the account remains open.