Credit Card FAQs

 

These are the commonly asked questions regarding Bank Iowa's credit card program.

 

Security & Fraud:

How do I report my card lost or stolen?
If you have lost your card or believe your card to be stolen, please call 866-820-0091.

 

How do I request a new credit card if my card is damaged or broken?
  • Please log into your Bank Iowa online or mobile banking app and go to Services / Credit Card then choose Card Details. Choose the Order Replacement and follow the prompts.
  • If you do not use online banking or mobile banking, please call 866-820-0091 to order a replacement card. You may also call or visit your local bank office to order a replacement card.

 

What happens when my card is going to expire?
Before your credit card expires, we will have already sent you a new card. All you need to do is activate the new card and correctly dispose of your old credit card.

 

How do I report fraudulent transactions on my credit card?
 To report fraud on your credit card, please call 866-820-0091. 

 

How do I submit a disputed transaction on my credit card?
If you want to make a dispute on your credit card, please call 866-820-0091.

 

How do I temporarily disable or re-enable my credit card?
  • Please log into your Bank Iowa online or mobile banking app and go to Services / Credit Card. A disable/enable slide button appears under your card image.
  • If you do not use online banking or mobile banking, please call 866-820-0091 to temporarily disable or re-enable your card. You may also call or visit your local bank office to do so.

 

How can I set alerts about my credit card transaction activity?
  • Through Bank Iowa online or mobile banking, cardholders can establish customized alerts. Please log into your Bank Iowa online or mobile banking app and go to Services / Credit Card then choose Card Details. Choose the Alerts option and follow the prompts.
  • If you do not use online banking or mobile banking, please call 866-820-0091 to get your credit card transaction history.

 

How many card pre-authorizations can I have per day?
The max number of authorizations allowed in one day is 15.

 

How many PIN attempts do I have per day?
 The max number of PIN attempts allowed in one day is 4.

 

What is my daily limit for ATM cash advances?
The max amount of cash you are allowed to advance on at an ATM per day is $310.

 

How much cash can I get over the counter in a day?
Over the counter cash is maxed out at 10% of your credit limit in one day.

 

What is my over the credit limit amount?
You are allowed to reach 110% of your credit limit.

 

 

Prime Rate & APRs:

What is the prime rate?
The prime rate is the interest rate that Bank Iowa uses, as most other banks use, to set the rate on products such as credit cards. The prime rate changes with the Federal Reserve’s Fed Funds Rate. The Wall Street Journal is where you can find the current prime rate and where you can see any changes to it.

 

What is the annual percentage rate (APR)?
The annual percentage rate (APR) is the rate of interest charged to your account annually. There is a purchase APR and a cash advance APR.

 

What is a balance transfer?
 A balance transfer is the move of some or all the balance (what you owe) from one credit card to another.

 

What is a cash advance?
A cash advance is the withdrawal of cash at an ATM. To do so you must have your PIN set up and ready. A cash advance has a separate APR from your purchase APR. Your cardmember agreement will detail out your rates.

 

Where can I find the current APR for my credit card?

Your current APR can be found on the second page of your monthly statement.

 

 

Digital Wallets & Contactless Payments:

What is a digital wallet?
A digital wallet is where you can add your credit card information on your mobile device to use in stores, online or in apps without needing the physical card.

 

What is the benefit of using a digital wallet?
Using a digital wallet lets you make purchases quickly and conveniently online, in stores, and in apps using your computer, mobile phone or smartwatch without the physical card in-hand.

 

Which digital wallets does Bank Iowa support?
Your Bank Iowa credit card can be used with the following wallets:
- Apple Pay
- Google Pay (also Fitbit Pay)
- Samsung Pay
- Garmin Pay

 

What are contactless payments? Tap to pay?
Contactless payments use a near-field communication (NFC) antenna to create a secure connection between the credit card and checkout terminal. Tap to pay is when you touch your credit card to a contactless enabled checkout terminal, this creates a secure payment that is sent for authorization.

 

Does my card have contactless payments?
Yes! Your Bank Iowa credit card is contactless enabled. Your card also has the contactless indicator that looks like a Wi-Fi symbol printed on the front.

 

Are there any benefits to using contactless payments instead of chip/swipe?
Contactless payments are secure, fast, and easy to use. Contactless payments send a onetime security code to securely authorize and complete your payment. These payments are easy and fast to make since all you have to do is tap your card to the checkout terminal to complete your checkout.

 

Are contactless payments safe?
Contactless payments are completely safe and secure. Tap to pay uses a onetime security code to securely transmit your payment information. You must be within 1-2 inches of the checkout terminal to complete the payment, meaning you can’t accidentally make a payment.

 

What is the difference between contactless and digital wallets?
Digital wallets and contactless payments both use near-field communication (NFC) to complete payments. The difference is that with digital wallets you don’t even need your physical credit card to make payments, all you need is your mobile device. Digital wallets can also help make payments to online merchants much easier than having to type every digit of your card number in.

 

 

About My Account:

How do I activate my card?
Please call the number (866-820-0091) on the sticker that is on the front of your new card.

 

What is a cardmember agreement?
The cardmember agreement contains information regarding your credit line, interest rates, minimum payments, fees, and lots of other important information. This agreement is a legal document that binds you and Bank Iowa. Your cardmember agreement can be found in the welcome packet that you receive after accepting the Bank Iowa credit card.

 

What is a credit limit?
The credit limit is the amount of money that Bank Iowa has agreed to loan you. This is the maximum amount you are allowed to advance on in a given statement period.

 

What does available credit mean?
The available credit is the amount you have left to advance on in a given statement period. This is your maximum credit line amount minus what you have advanced on currently this period.

 

Where can I find my current purchase APR and cash advance APR?
You can find both APRs on your monthly statement. These variable APRs are based on your creditworthiness and will vary with the market based on the prime rate.

 

Can I use my Bank Iowa credit card for overdraft protection?
You do not have the ability to use your Bank Iowa credit card for overdraft protection.

 

How do I find and redeem my rewards? How do I earn rewards?
  • You earn rewards by simply using your credit card. You will receive 2 points per dollar spent. Redeeming your rewards is just as easy. Login to your Bank Iowa Platinum Rewards to view earned rewards and decide how to use them.
  • Rewards will expire 2 years from the end of the calendar year they were earned.
  • Example: If you earn 50 points on 4/1/2024, they will expire on 12/31/2026.

 

How do I set up or change my PIN? What do I do if I forget my PIN?
  • You will be prompted to set up a 4 digit PIN while activating your new Bank Iowa credit card.
  • You can call 866-820-0091 and select the PIN # option to reset your PIN.

 

How do I make a payment on my statement?
  • Online banking
  • Mobile banking
  • Pay by phone – You can call 866-820-0091 to make a payment by phone. There is a $6 charge for this service.
  • Mailed check – You can remit payment via check to:
    Bank Iowa
    P.O. Box 660493
    Dallas, TX 75266-0493

 

How do I sign up for eStatements?
Login to your Bank Iowa online or mobile banking account. Under the settings menu, select statement delivery. Select the eStatement option under the delivery type column. Read and accept Bank Iowa’s eStatement Agreement. Enter or edit both a primary and alternative email address under the address column.

 

How do I set up automatic payments?
You can set up automatic and recurring payments through the online or mobile banking app.

 

Do you pull my credit report?
Yes, a report is pulled to determine credit eligibility.

 

How do I set a travel notice?

Bank Iowa offers 2 options for travel.

  • Using a travel notification, you provide us with your travel dates and a traveling phone number in the event that we need to contact you during your travel time.
  • Using card controls/location, you can provide the location and set up a geofence up to 250 miles around the location. We suggest establishing regions for your home and then add in any travel or vacation destinations.

 

 

Fees:

What is the fee for a cash advance?
The cash advance fee is 3% of the cash advance or $10, whichever is greater.

 

What is the fee for a rush plastic?
The rush plastic fee is $50 per plastic.

 

What is the paper statement fee?
The paper statement fee is a $3 fee that will be added to your statement. To avoid this fee you must enroll in eStatements. View instructions for enrolling in online and mobile banking.

 

What is the fee for a return check for payments?
For every returned check for a payment on your balance is $25.

 

What is the foreign transactions fee on my account?
The foreign transaction fee is 1% of the amount of each cross-border transaction. The fee is applied to the amount after conversion to U.S. dollars.

 

What is the pay by phone fee?
The pay by phone fee is $6 per call in payment on your statement.