Not exact matches
APR is the
sum of finance charges including interest,
penalty fees and membership
fees calculated as a percentage of the balance on each account.
You will incur in
penalty fees that will take your overdraft even further and you will have to pay higher interests on the whole amount (the
sum included in the limit and the
sum exceeding the limit).
There are policies now available, though they are rare, that allow for «commutation» which enables you to reverse your decision and collect a lump
sum, but this process is normally expensive and involves paying stiff
penalty fees.
A late payment could void the promotional period, possibly trigger a
penalty APR and cost you a princely
sum in late
fees.