How interest works

When it comes to credit cards, interest is a fee that is charged for the use of money in the form of credit.

For purchases that appear on your enviro Visa* statement for the first time, you will not be charged interest if you pay the balance in full by the payment due date, which is 21 days from your last statement period. If you don’t, interest will be charged on the full amount owing starting from the original transaction date.

The interest rates on our enviro Visa cards are:

  Regular Rate Low Interest Rate*

Annual Rate



Daily Interest Rate



Here’s an example of how we charge interest on purchases:

If your statement period is April 1-30, the end of your statement period will be April 30 and the payment due date will be May 21.

  • If you pay your entire Visa account balance by May 21, we won’t charge interest on any of the purchases you made in April.

  • If you do not pay your entire Visa account balance by May 21, on May 22, we'll start charging you interest on the purchases you made in April.

  • The interest on your April purchases will be charged starting on the transaction date of each purchase. Interest will be calculated on the average daily balance at the daily rate (which varies depending on your card type).

  • We will continue to charge interest every day on your April purchases until your entire Visa account balance has been paid in full.

  • The 21 day grace period from May 1 – May 21 in this example applies only to new purchases in April. If you have a balance outstanding from transactions on previous statements, we will continue to charge interest on those balances every day (including May 1 – May 21) until you pay your entire Visa Account balance in full.

Make Good Money™

When you choose and use an enviro Visa card, you earn great rewards, while making good things happen in your community through the enviroFund™ granting program.

Just by using your card for daily transactions, you ensure every year a portion of Vancity enviro Visa card's profits are distributed back to your local community. We call it Good Money.

™ enviro, Vancity enviroFund, Vancity Rewards and Make Good Money are trademarks of Vancouver City Savings Credit Union.
*Trademark of Visa Int., used under license.