This Cardholder Agreement ("Agreement") is a contract between you ("you" or "Cardholder") and Partner Bank, Member FDIC ("Issuer"), issued under license from Visa U.S.A. Inc. By using the PrestigeVisa Credit Card, you agree to the terms of this Agreement.
| INTEREST RATES AND INTEREST CHARGES | |
|---|---|
| Annual Percentage Rate (APR) for Purchases | 29.99% This APR will vary with the market based on the Prime Rate. |
| APR for Cash Advances | 29.99% This APR will vary with the market based on the Prime Rate. |
| Penalty APR and When It Applies | 39.99%. This APR may be applied to your account if you: make a late payment; make a payment that is returned; go over your credit limit; or make any of these within 60 days of opening your account. How Long Will the Penalty APR Apply? If your APRs are increased for any of these reasons, the Penalty APR may apply indefinitely. |
| How to Avoid Paying Interest on Purchases | Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. |
| Minimum Interest Charge | If you are charged interest, the charge will be no less than $1.00. |
| 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 | $75 |
| Monthly Maintenance Fee (after first year) | $6.25 per month |
| Cash Advance Fee | Either $10 or 3% of the amount of each cash advance, whichever is greater. |
| Foreign Transaction Fee | 3% of each transaction in U.S. dollars. |
| Late Payment Fee | Up to $40 |
| Over-the-Limit Fee | None |
| Returned Payment Fee | Up to $40 |
1. Credit Limit
Your initial credit limit is $1,000. Your credit limit will be shown on your billing statement and in your online account. You may not use your card in a way that would cause your balance to exceed your credit limit. We may change your credit limit at any time.
2. Minimum Payment
You must pay at least the minimum payment shown on each billing statement by the due date. The minimum payment is the greater of: (a) 2% of your statement balance; or (b) $25. We may accept late or partial payments without losing any rights.
3. How We Calculate Interest
We use the "Average Daily Balance" method (including new transactions) to calculate interest charges. Daily Periodic Rate = APR ÷ 365.
4. Default
You are in default if: you fail to make a minimum payment when due; you exceed your credit limit; you provide false information; you die, become insolvent, or file for bankruptcy; or you breach any other obligation under this Agreement.
5. Arbitration Agreement
PLEASE READ CAREFULLY. THIS AFFECTS YOUR LEGAL RIGHTS. Any dispute arising out of or related to this Agreement or your Account shall be resolved exclusively by binding arbitration, rather than in court, except for disputes that qualify for small claims court. You waive your right to a jury trial and the right to participate in any class or collective action.
6. Credit Reporting
We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report. If you believe information we have reported is inaccurate, contact us at creditreporting@prestigevisa.com.
7. Electronic Signature
Your electronic signature on this Agreement, obtained during the online application process, is legally binding pursuant to the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), 15 U.S.C. § 7001, et seq. You consent to receive this Agreement electronically.
Important Notice
The Prestige Visa® Credit Card is issued by Partner Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association. "Prestige Visa Financial, LLC" is the marketing agent for this card and not the Issuing Bank.