VISA PLATINUM DISCLOSURE

 

KENTUCKY TELCO VISA PLATINUM
SUMMARY OF TERMS
EFFECTIVE APRIL 1, 2014

Interest Rates and Interest Charges

Annual Percentage Rate (APR) for Purchases

8.90%, 9.90%, 11.90%, 14.90%, or 17.90% based on your creditworthiness.

APR for Balance Transfers

8.90%, 9.90%, 11.90%, 14.90%, or 17.90%

APR for Cash Advances

8.90%, 9.90%, 11.90%, 14.90%, or 17.90%

Penalty APR

NONE

How to Avoid Paying Interest on Purchases

Your due date is 25 days after the close of each billing cycle.  We will not charge you interest on purchases if you pay your entire balance by the due date each month.

Minimum Interest Charge

NONE

For Credit Card Tips from the Consumer Financial Protection Bureau 

To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore.

 

Fees

Annual Fee

NONE

Transaction Fees

  • Balance Transfer
  • Cash Advance
  • Foreign Transaction

 

NONE
NONE
1% of each transaction in U.S. dollars

Penalty Fees

Late payment

 


Returned payment

 

Up to $25 if a payment is late in whole or in part will be assessed on the 10th day following the payment due.

 

Up to $25


How We Will Calculate Your Balance:  We use a method called “average daily balance (including new purchases).”  Please see Cardmember Agreement Terms and Conditions for more details.

                                                        VISA PLATINUM CARDMEMBER AGREEMENT

TERMS AND CONDITIONS

The person (Cardholder) whose name is embossed on the face of the VISA PLATINUM card (Card) enclosed herewith, and each Cardholder, in the event more than one Card is enclosed herewith bearing the same account number, by signing or using said Card, receipt of which is acknowledged, agrees with the Issuer of the Card whose name is printed on the reverse (Issuer) as follows:

  1. Goods and services (Credit Purchases) may be purchased or leased by means of such card by Cardholder from any retail business establishment (Seller) who honors same upon the execution of a sales slip evidencing such Credit Purchase and bearing the account number of Cardholder embossed on the face of such Card. Additionally VISA PLATINUM Cash Advances (Loans) may be obtained through the use of such Card (a) upon execution of a written request of Cardholder in a form furnished by any bank that is a member alone or in association with others of VISA, Inc. and (b) upon execution of a written separate agreement with issuer for a VISA PLATINUM overdraft financing agreement if offered by Issuer.
  2. Cardholder shall be liable and agrees to pay Issuer for Credit Purchases made by or for Loans extended to Cardholder or anyone else using such Card unless the use of such Card is by a person other than the Cardholder (a) who does not have actual, implied or apparent authority for such use and (b) from which the Cardholder receives no benefit. Additionally, Cardholder shall be jointly and severally liable and agrees to pay for all Credit Purchases and Loans obtained through the use of any other Card bearing Cardholder’s account number that has been issued to another person by reason of such person being a member of Cardholder’s family or otherwise issued upon Cardholder’s request (all such Cards bearing the same VISA PLATINUM account number hereinafter collectively called Related Cards.)
  3. Cardholder agrees to pay to Issuer an annual membership fee (as stated in the Disclosures on the reverse) for participation in Issuer’s credit card plan. Such annual membership fee shall be imposed whether or not Cardholder uses the card to obtain credit purchases and loans. The membership fee shall be charged to Cardholder’s account each year in the month of Issuer’s choice. The membership fee is not refundable in the event of termination of the account by either Cardholder or Issuer.
  4. Each Card is the property of Issuer, is not transferable and must be surrendered upon demand. It can be cancelled as well as repossessed by Issuer or its designee and the privileges thereof revoked at any time without prior notice.
  5. Cardholder shall not use Card or permit the use of Related Cards to obtain Credit Purchases or Loans that will increase Cardholder’s VISA PLATINUM indebtedness to Issuer to an amount in excess of the limit established by Issuer.
  6. All Credit Purchases and Loans are affected at the option of the Seller and Cash Advancing Bank respectively and Issuer shall not be responsible for refusal by any Seller or Cash Advancing Bank to honor the Card or any Related Card. Any refund adjustment or credit allowed by Seller shall not be by cash but rather by a credit advice to Issuer that shall be shown as a credit on Cardholder’s account statement with Issuer.
  7. Issuer will send to Cardholder, at monthly intervals determined by Issuer, a statement reflecting for the prior monthly period all VISA PLATINUM Card and Related Card transactions. Such statement shall be deemed correct and accepted by Cardholder and all holders of Related Cards unless Issuer is notified to the contrary in writing within 60 days of mailing of such statement. Cardholder will pay such statement by remitting to Issuer within 25 days of the closing date reflected on the statement either the full amount billed or at Cardholder’s option an installment equal to at least the required minimum payment stated in Paragraph 3 on reverse.
  8. Interest on Loans and Credit Purchases will be charged in accordance with the finance charge calculation method referred to in Paragraph 1 of the Disclosures on the reverse side. The rate of interest shall be established by Issuer from time to time but shall never exceed the maximum rate permitted by law. The current interest rate per annum is the Annual Percentage Rate set forth in Paragraph 2 of the Disclosures on the reverse side.
  9. If Card surrender is demanded by Issuer or the Cardholder defaults due to bankruptcy, insolvency, or any attachment or garnishment proceedings are indicated against Cardholder or his property, Issuer may elect to declare all amounts then owed to Issuer to be immediately due and payable without notice or demand of any kind. If Cardholder has other loans from Issuer or takes out other loans with Issuer in the future, collateral securing those loans will also secure the Cardholder’s obligations under this Agreement. However, the Cardholder’s primary dwelling will not secure Cardholder’s obligations under this Agreement, even if Issuer has, or later acquires, a mortgage on the dwelling. Cardholder agrees to pay all costs incurred by Issuer in collecting Cardholder’s indebtedness or in enforcing this Agreement, including attorney’s fees of 20% of the unpaid balance, or such greater amount as may be reasonable and just and also those costs, expenses and attorney’s fees incurred in appellate, bankruptcy, and post judgment proceedings.
  10. Issuer may amend this Agreement from time to time. Written notice will be mailed to Cardholder at Cardholder’s last known address.
  11. Except to the extent that Federal law is applicable, the validity, construction and enforcement of this Agreement and all matters arising out of the issuance and use of the Card shall be governed by the laws of the state in which the principal office of Issuer is located.
  12. A charge of up to $15.00 per copy, plus applicable state sales tax, may be assessed for copies of documents requested by Cardholder, if not prohibited by law or regulation.
  13. Cardholder may be liable for the unauthorized use of the Card or Related Cards as provided in this paragraph. The Cardholder will not be liable for any unauthorized use that occurs after Issuer is notified orally or in writing at:  KENTUCKY TELCO FEDERAL CREDIT UNION • P.O. Box 18303 • Louisville, Kentucky  40261-0303 • (800) 292-9490
  14. Replacement Card fee: If a card is replaced for any reason, a fee of $10 may be charged. If Cardholder has a consumer account or a business for which less than 10 cards have been issued, Cardholder’s liability for unauthorized use of a card will not exceed $50.00. If 10 or more cards are issued for use by employees of a single business or other organization there is no limit to Cardholder’s liability for any unauthorized use that occurs before Cardholder notifies Issuer as provided herein. The business or organization may only impose liability on its employees for unauthorized use of a card as authorized by federal law and regulation.
  15. The Cardholder authorizes Issuer to investigate Cardholder’s credit standing when opening, renewing or reviewing the Cardholder’s account, and Cardholder authorizes Issuer to disclose information regarding Cardholder’s account to credit bureaus and other creditors who inquire of Issuer about Cardholder’s credit standing, to the extent authorized in Issuer’s By-Laws, and by state and federal law.
  16. The Issuer is committed to the privacy of Cardholder’s financial records. To ensure Cardholder’s privacy, disclosure of account information will be restricted to the following:
    1. Where it is necessary for completing the requested transaction.
    2. In order to verify the existence or condition of Cardholder’s account for third parties such as a credit bureau or merchant.
    3. In order to comply with a government agency or court order.
    4. When requested by Cardholder.
  17. If this is a joint account, each person on the account must agree to all of the terms contained herein by signing the application. Each Cardholder will be individually and jointly responsible for paying all amounts owed under this Agreement. This means that the Issuer can require any of the Cardholders to repay the entire amount owed under this Agreement. Each Cardholder authorizes the other(s) to make purchases or obtain cash advances individually. Any one of the Cardholders may terminate the account and the termination will be effective as to all of the Cardholders.
  18. Security Interest: Each Cardholder grants to Issuer a security interest in any and every account and certificate, other than IRAs, currently or hereafter on deposit with Issuer. All monies owned by the Cardholder pursuant to the terms of this Agreement, and each such account deposit and certificate is hereby assigned to the Issuer to secure payment of the Cardholder’s obligations under this Agreement.
  19. The Issuer is not responsible for the refusal of any plan merchant or financial institution to honor Cardholder’s Card. The Issuer is subject to claims and defenses (other than tort claims) arising out of goods or services Cardholder purchases with the Card only if Cardholder made a good faith attempt, but Cardholder has been unable to obtain satisfaction from the plan merchant, and (a) Cardholder’s purchase was made in response to an advertisement Issuer set or participated in sending Cardholder or (b) Cardholder’s purchase cost was more than $50.00 and was made from a plan merchant in Cardholder’s state or within 100 miles of Cardholder’s home. The Cardholder must resolve any other dispute directly with the merchant.
  20. Merchants and others who honor Cardholder’s Card may give credit for returns or adjustments, and they will do so by sending the Issuer a credit slip which will be posted to Cardholder’s account. If Cardholder’s credits and payments exceed what Cardholder owes the Issuer, the amount will be applied against future purchases and cash advances. If the credit balance amount is $1.00 or more, it will be refunded upon Cardholder’s written request or automatically after six (6) months.
  21. The Issuer reserves the right to place holds or otherwise restrict access to an available credit limit created by means of credit balances or large payments. Credit balances may be restricted pending an investigation as to reason and expectancy of continued availability of the credit balance. This is generally a period of 7 business days. Payments by means other than cash may be placed on hold for a period of 10 business days or until the Issuer receives credit for the payment item, whichever is greater. A Cardholder wishing to establish a credit balance or make a large payment may contact Issuer for prior approval and initial waiver of holds.
  22. Cash advances may not exceed the lesser of the local Automatic Teller Machine (ATM) limit, or Cardholder’s credit limit. The ATM receipt may not indicate the transaction was conducted with a Card. Any ATM withdrawal conducted by a Card will be processed as a Cash Advance.
  23. The Issuer may terminate or block the usage of the Card at any ATM, at Issuer’s discretion, when Issuer reasonably believes that there is unusual activity on the account or if Cardholder is in default of this agreement.
  24. The Issuer reserves the right to limit the amount Issuer will authorize for a purchase or a cash advance. The Issuer is not responsible for refusal by an ATM to honor Cardholder’s Card.
  25. The Card may be used for any transaction permitted by law. Any unlawful use of the Card by the Cardholder or any authorized user is not permitted and will be deemed an action of default and/or a breach of the terms of this Agreement. At Issuer’s discretion, this account and related services may be terminated as a result of unlawful use of the Card. The Cardholder agrees that, should unlawful use of the Card occur, the Cardholder waives the right to sue the Issuer for such unlawful activity, directly or indirectly related to the unlawful use of the Card. The Cardholder also agrees to hold the Issuer harmless from any legal action or liability related to such unlawful use of the Card.
  26. Cardholder and Issuer agree to abide by all applicable rules and regulations of Visa U.S.A., Inc. (VISA PLATINUM), as well as all applicable laws. If there is any conflict between the provisions of this agreement and the rules and regulations of Visa, Visa’s rules and regulations will control.1
  27. This Agreement is the contract that applies to all transactions on your account even though the sales, cash advances, credit or other slips Cardholder signs or receives may contain different terms.
  28. The Issuer can delay enforcing any of its rights any number of times without losing them.
  29. Statements and notices will be mailed to Cardholder at the most recent address Cardholder has given Issuer. Notice sent to any one Cardholder will be considered notice to all Cardholders.
  30. This agreement is the final expression of the terms and conditions of this VISA PLATINUM line of credit between Cardholder and Issuer. This written agreement may not be contradicted by evidence of any alleged oral agreement.
  31. The invalidity or unenforceability of any provision of this agreement will in no way affect any of the remaining provisions.
  32. 32.The Cardholder acknowledges that Cardholder has received a copy of this agreement. 

 

Notify Us In Case of Errors or Questions About Your Bill

If you think your bill is wrong, or if you need more information about a transaction on your bill, write us (on a separate sheet) at P.O. Box 18303, Louisville KY 40261-0303. Write to us as soon as possible. We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You may telephone us, but doing so will not preserve your rights.

Your letter must include the following:

•  Your name and account number,

•  The dollar amount of the suspected error, and

•  A description of the suspected error and a full explanation, to the extent possible, of why you believe there is an error.

If you have authorized us to pay your credit card bill automatically from your savings or checking account, you can stop the payment on any amount you think is wrong. To stop the payment, your letter must reach us three business days before the automatic payment is scheduled to occur.

Your Rights and Our Responsibilities After We Receive Your Written Notice

We must acknowledge your letter within 30 days, unless we have corrected the error by then. Within 90 days, we must either correct the error or explain why we believe the bill was correct.

After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question.

 

If we find that we made a mistake on your bill, you will not have to pay any finance charges related to any questioned amount. If we did not make a mistake, you may have to pay finance charges and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.

 

If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within 10 days telling us that you still refuse to pay, we must tell anyone to whom you are reported that you have a question about your bill. Also, we must tell you the name(s) of those to whom you are reported. When the matter is settled, we must tell those to whom you have been reported. These regulations must be followed in order to collect the first $50 of the questioned amount, even if your bill was correct.

Special Rule for Credit Card Purchases

If you have a problem with the quality of property or services that you purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the property or services. There are two limitations on this right:

  1. You must have made the purchase in your home state or, if not within your home state, within 100 miles of your current mailing address; and
  2. The purchase price must have been more than $50.

These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement for the property or services.

 

DISCLOSURES REQUIRED BY FEDERAL LAW

  1. The Finance Charge on Cash Advances is calculated in accordance with Method 1 shown in this Agreement. The Finance Charge on Credit Purchases is calculated in accordance with Method 2 shown in this Agreement.
  2. The Annual Percentage Rate range consists of 8.90%, 9.90%, 11.90% 14.90%, and 17.90%. The Periodic Rate range used to compute the Finance Charge consists of .741%, .825%, .991%, 1.241% and 1.491%, respectively. Your actual Annual Percentage Rate (APR) will be based on your credit profile.  A periodic review of your account and credit history will be conducted and your APR may be adjusted accordingly with the exception of promotional or balance transfer rates.
  3. The minimum periodic payment required is the total New Balance as shown on your monthly billing statement if the amount is under $10.00. If the New Balance exceeds $10.00 the minimum periodic payment is 3.00% of that portion of the New Balance which does not exceed your credit limit plus the entire portion of the New Balance in excess of your credit limit, plus any amount past due, or $10.00 whichever is greater.
  4. When a Cardholder makes a payment in excess of the required minimum periodic payment for a credit card account, the Issuer shall allocate the excess amount first to the balance with the highest annual percentage rate and any remaining portion to the other balances in descending order based on the applicable annual percentage rate. When a balance on a credit card account is subject to a deferred interest or similar program that provides that a consumer will not be obligated to pay interest that accrues on the balance if the balance is paid in full prior to the expiration of a specified period of time 1) Issuer shall allocate any amount paid by the Cardholder in excess of the required minimum periodic payment to the balance with the highest annual percentage rate, except that, during the two billing cycles immediately preceding expiration of the specified period, the excess amount shall be allocated first to the balance subject to the deferred interest or similar program and any remaining portion allocated to any other balances consistent with the general rule above; or 2) Issuer may at its option allocate any amount paid by the consumer in excess of the required minimum periodic payment among the balances on the account in the manner requested by the Cardholder.
  5. CREDITING OF PAYMENTS: Mailed payments are credited as of the date received, if the payment is: (1) received by 5 p.m. Eastern time at the address shown on the remittance slip on the front of your monthly statement; (2) paid with a check drawn in U.S. dollars on a U.S. financial institution or a U.S. dollar money order; and (3) sent in the return envelope with only the remittance portion of your statement accompanying it. Payments received by mail after 5 p.m. Eastern time at the remittance address on any day including the Payment Due Date, but that otherwise meet the above requirements, will be credited as of the next day. Credits for any other payments may be delayed up to five days. If Issuer accepts or receives payments made on a credit card account in-person or by telephone at a branch or office of the Issuer prior to the close of business of that branch or office, such payments are considered received on the date on which the member makes the payment. If payments by mail are received and accepted by Issuer and if the Issuer does not receive or accept payments by mail on the due date for payments, a payment received the “next business day” will not be treated as late. “Next business day” is defined as the next day that the Issuer accepts or receives payments by mail. Issuer’s mailing address is P.O. Box 18303, Louisville, KY 40261-0303.
  6. In event of suit to collect unpaid balances, all costs, including attorney’s fees of 20% of the balance due, or such greater amount as may be reasonable and just, and also those costs, expenses and attorney’s fees incurred in appellate, bankruptcy and post-judgment proceedings, shall be imposed.
  7. Documentary stamp taxes as may be required by law shall be imposed on each Cash Advance at the time the loan is made.  Such tax shall be computed at the rate then in effect.
  8. A charge up to $15.00 per copy, plus applicable state sales tax, may be assessed for copies of documents that you request when the charge is not prohibited by law or regulation.
  9. If you have other loans from Issuer, or take out other loans with issuer in the future, collateral securing those loans will also secure your obligations under this agreement. However, your primary dwelling will not secure your obligations under this agreement even if issuer has or later acquires a mortgage on the dwelling.
  10. We will not impose late payment or returned check penalty fees that exceed the dollar amount associated with the violation. If a payment is late in whole or in part a fee up to $25 will be assessed on the 10th day following date payment due. A fee up to $25 will be assessed for any returned check. We will not impose multiple penalty fees based on a single event or transaction. For example, we will not charge a late payment fee and a returned payment fee based on a single payment.
  11. Foreign Transaction(s): Purchases and cash advances made in foreign countries, in a currency other than U.S. dollars, will convert into a U.S. dollar amount. The currency conversion rate used to determine the transaction in U.S. dollars for such transactions is a rate selected by Visa U.S.A., Inc. (VISA PLATINUM), from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate VISA PLATINUM itself receives, or the government-mandated rate in effect for the applicable central processing date, in each instance, plus or minus any adjustment determined by the Issuer. The International Service Assessment fee will be 1% of the transaction amount.
  12. Use of a credit card for illegal transactions, such as illegal gambling, is prohibited.   
  13. Issuer shall not open a credit card account for a consumer less than 21 years old, unless the consumer has submitted a written loan application and the card issuer has: 1) Financial information indicating that the consumer has an independent ability to make the required minimum periodic payments on the proposed extension of credit in conjunction with the account; or 2) A signed Agreement of a cosigner, guarantor, or joint applicant who is at least 21 years old to be either secondarily liable for any debt on the account incurred by the consumer before the consumer has attained the age of 21 or jointly liable with the consumer for any debt on the account, and financial information indicating such cosigner, guarantor, or joint applicant has the ability to make the required minimum periodic payment on such debts. If a credit card account has been opened for a consumer less than 21 years old, no increase in the credit limit may be made on such account before the consumer attains the age of 21 unless the cosigner, guarantor, or joint accountholder who assumed liability at account opening agrees in writing to assume liability on the increase.
  14. Issuer shall give 45 days notice before increasing the APR or changing any other significant term(s) in the Agreement. The new APR will apply to transactions that occur more than 14 days after provision of the 45-day notice. The Cardholder has the right to cancel the account. Cancellation of an account by the Cardholder will not constitute a default and shall not trigger an obligation to immediately repay the entire balance. Issuer will impose a minimum payment calculation that will not exceed twice the minimum payment calculation used before the proposed change in terms. Rejecting the change in term(s) will result in the Cardholder’s inability to use the account for future transactions.  The Cardholder will notify the Issuer of their decision to cancel within 45 days of the date on the letter received informing them of a change in term(s). Cardholder may contact Issuer at Kentucky Telco, P.O. Box 18303, Louisville KY 40261-0303 or call toll free 1-800-292-9490.
  15. The APR will not be increased in the first year after an account is opened unless 1) a promotional rate has expired after a specified period of time of no less than six months disclosed to the Cardholder at account opening or 2) the Cardholder fails to abide by the terms of a workout arrangement or 3) payments are 60 days late. If there is a 60-day delinquency, Issuer shall provide, along with the 45-day notice, a statement of the reason for the increase; the increased APR will terminate no later than 6 months if all required minimum payments are received on time during that period. The new APR will apply to transactions that occur more than 14 days after provision of the 45-day notice.
  16. Issuer will not increase the APR on an existing balance except for the following reasons: 1) the APR may be increased after the expiration of a specific time period where we have disclosed prior to the beginning of that time period both the length of the time period and the rate that would apply at the end of that time period; 2) the Cardholder fails to comply with an individual workout plan; or 3) the Cardholder fails to make a payment within 60 days of the due date. In this case involving a 60-day delinquency, Issuer will provide the Cardholder, along with the 45-day notice, a statement of the reason for the increase and that the increased APR will terminate in no later than 6 months if all required minimum payments are received on time during that period. The new APR applies to transactions that occur more than 14 days after provision of the 45-day notice.
  17. If Cardholder defaults due to death, Issuer will decline all future transactions and terminate the account upon receiving reasonable notice of the Cardholder’s death. Upon request by the estate administrator, Issuer will provide an account balance in a timely manner deemed to be no later than 30 days. Issuer will impose fees and finance charges, due to the periodic interest rate based on balances for days that precede the date on which Issuer receives a request by the estate for an account balance. Issuer will not increase the Annual Percentage Rate or impose any fees on the account after notice of death has been received. Issuer will rebate any additional finance charge due to a periodic interest rate if payment in full of the balance owed Issuer is received within 30 days after disclosure. This paragraph will not apply if a joint Cardholder remains on the account. 

 

FINANCE CHARGE CALCULATION METHOD

METHOD 1 – A Finance Charge will be imposed on Cash Advances that you obtain through the use of your Card during the current billing cycle from the date of each such Cash Advance.           

The balance of Cash Advances subject to Finance Charge is the average daily outstanding unpaid balance, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily balance of Cash Advances is determined by adding to the previous balance any new Cash Advances as of the transaction date.

To determine the monthly periodic rate, we divide the Annual Percentage Rate by 12. The Periodic Rate and Annual Percentage Rate used to compute the finance charge is based on your credit profile. The Periodic Rate and Annual Percentage Rate that will apply to your account have been disclosed on the notice that accompanies (and is part of) this Agreement. We will review your Account from time to time and may adjust your Periodic Rate and Annual Percentage Rate based on changes in your credit profile. Any change in the Periodic Rate and Annual Percentage Rate will be applied to new balances, with the exception of promotional rates. The Annual Percentage Rate on existing balances will remain at the rate that was in effect on those existing balances with the exceptions noted in Item #16 preceding.

METHOD 2 – A Finance Charge will be imposed on Credit Purchases of goods and services that you obtain through the use of your Card only if you elect not to pay the entire New Balance shown on your previous monthly statement within 25 days from the closing date of the statement. If you elect not to pay the entire New Balance shown on your previous monthly statement within 25 days from the closing date of the statement, a Finance Charge will be imposed on the unpaid balance of Credit Purchases from the statement closing date, and will continue to accrue until the closing date of the billing cycle preceding the date on which the entire New Balance is paid in full.

The balance of Credit Purchases subject to Finance Charge is the average daily outstanding unpaid balance, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle.  Each daily balance of Credit Purchases is determined by adding to the previous balance new Credit Purchases posted through that date if the previous balance was not paid in full within 25 days of the statement closing date, and subtracting each payment and credit on the date of receipt, but excluding any unpaid Finance Charges.

To determine the monthly periodic rate, we divide the Annual Percentage Rate by 12. The Periodic Rate and Annual Percentage Rate used to compute the finance charge is based on your credit profile. The Periodic Rate and Annual Percentage Rate that will apply to your account have been disclosed on the notice that accompanies (and is part of) this Agreement. We will review your Account from time to time and may adjust your Periodic Rate and Annual Percentage Rate based on changes in your credit profile. Any change in the Periodic Rate and Annual Percentage Rate will be applied to new balances, with the exception of promotional rates. The Annual Percentage Rate on existing balances will remain at the rate that was in effect on those existing balances with the exceptions noted in Item #16 preceding.

 

Revised 04/01/2014

 

The information about the cost of the card described in the application disclosure is accurate as of April 1, 2014.

 

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