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Why has my Purchase Power Annual Percentage Rate Increased?

At Pitney Bowes, we strive to offer financial solutions that simplify managing your postage and mailing expenses, including our Line of Credit (Purchase Power). 

As with all financial products, we complete routine reviews of customer accounts. Based on review of your business account and your current business credit score, we may adjust your Line of Credit Annual Percentage Rate (APR). We will provide notification of any adjustments to your APR in writing, including your new Terms & Conditions, to the email on file for Your Account. If no email is available, we will send a letter to the address on file.

What is Purchase Power?

Purchase Power is a business Line of Credit offered by Pitney Bowes Bank. Just like all other banking and financial credit products, customers use our Line of Credit to preserve cash flow and extend payment and DPO cycles by providing one, consolidated, flexible, pay-later resources for all their postage, mailing, and shipping expenses. Learn more about our Line of Credit (Purchase Power).

Where did Pitney Bowes get my credit score? Who can answer questions about my credit score?

Your business credit risk rating was provided by the business reporting agency Dun & Bradstreet. If you have questions about your credit report information, please contact them directly. Pitney Bowes does not have any information on how they compiled your credit score: 

Dun & Bradstreet
www.dnb.com
Phone: 800-234-3867

When do I have to start paying this new rate and where can I find it?

The effective-by date and Annual Percentage Rate (APR) are included in your Terms & Conditions which you should have received via email link or by mail.

I want to keep my rate the same. What can I do?

Unfortunately, the rate increase cannot be changed; however, if you pay off the balance of your Line of Credit (Purchase Power) in full and on time every month, you will not incur finance charges (interest).

What are my options to purchase postage?
  1. Line of Credit (Purchase Power) - Send Now, Pay Later
    a. Extend your days to pay for an average of 42 days from your postage purchase date
    b. Lengthen your DPO cycle to keep your cash on-hand
    c. Similar to a credit card - Pay your monthly bill on time and in-full to avoid late fees and finance charges (interest)
    d. Consolidate your postage, mailing, and shipping purchases into a single Line of Credit
    e. Learn more about our Line of Credit (Purchase Power) or how to Request a Credit Limit Increase
  2. Deposit Account (Reserve Account) - Pay as You Go
    a. Deposit funds into an FDIC-insured account to reserve for postage, mailing, and shipping expenses
    b. Purchase postage when you need it
    c. Learn more about our Deposit Account (Reserve)
  3. USPS Trust Account  - deposit funds into the USPS Trust Account to purchase postage as you need it. Learn how to pay for postage with your USPS Trust Account
  4. Credit Card - use your preferred credit card to purchase postage as you need it. Learn how to pay for postage with a credit card.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, or age (providing the applicant has the capacity to enter into a binding contract), or because all or part of the applicant’s income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act.  The federal agency that administers compliance with this law concerning this creditor is: FDIC Consumer Response Center, 1100 Walnut St., Box #11, Kansas City, Missouri 64106.

Eligibility subject to credit approval and customer verification. This is not a commitment to lend, and this does not create, and is not intended to create a legally binding obligation on either of us. Program, rates, Terms & Conditions are subject to change.

Banking products and services are provided by The Pitney Bowes Bank, Inc., Member FDIC. Pitney Bowes, Pitney Bowes Bank, and the Corporate logo are trademarks of Pitney Bowes Inc. or a subsidiary. All other trademarks are the property of their respective owners. Pitney Bowes Bank is state chartered and located in Salt Lake City, Utah. 

 

UPDATED: December 6, 2023