Standard Revolving Account

Receive one statement monthly that covers all transactions made during that period. A minimum payment of 10% (revolving) of the account balance plus interest is due each payment cycle, or pay in full without interest charges. Rental charges are due in full by the due date. As with all statement billing methods, payments are applied to the oldest outstanding balance.

 

Is a Standard Revolving account right for my business?

As with all statement billing methods payments are applied to the oldest outstanding balance. This option allows one statement, one account with flexible terms, no matter where you do your Caterpillar business.

  • A payment is due 25 days after billing cycle date
  • Customer has the option to make a minimum payment
  • Minimum payment is 10% of outstanding balance
  • The remaining balance is carried forward until the next statement, interest is charged at Prime plus 8%
  • Pay in full each payment period and have no interest charged
  • Rentals are due in full each statement period

 

Your monthly statement also shows a breakdown of any special financing offers you have transacted (see example).

The date the transaction occurred (1) the original amount (2) the current balance (3) the installment number (4) and the installment amount due (5) is listed. This makes it easy to track and know when your special financing terms will expire.

 

Breakdown of special financing offers

 

Our monthly statement has a payment coupon at the bottom of page one to make it easy to mail in your minimum payment or more. Just detach and include with your check to the address printed on the coupon. You are also able to make your payment online.

 

Monthly statement coupon

 

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