Application And Credit Card Account Agreement (Page 4 of 10) in pdf

SECTION II: RATES, FEES AND PAYMENT INFORMATION

OF THE CARECREDIT CREDIT CARD ACCOUNT AGREEMENT

How Interest Is Calculated

We use a daily rate to calculate the interest on the balance on your account each day. The daily rate for purchases is the APR times

Your Interest Rate

1/365. The daily rate for purchases is .07395% (APR 26.99%). Interest will be imposed in amounts or at rates not in excess of those

permitted by applicable law.

We charge interest on your purchases from the date you make the purchase until you pay the purchase in full. See exceptions below.

When We Charge Interest

• We will not charge you interest during a billing cycle on any non-promotional purchases if:

You had no balance at the start of the billing cycle; OR

You had a balance at the start of the billing cycle and you paid that balance in full by the due date in that billing cycle.

We always charge interest on promotional purchases and their related fees from the date you make the purchase.

• We will credit, as of the start of the billing cycle, any payment you make by the due date that we allocate to non-promotional

purchases if:

You had no balance at the start of the previous billing cycle; OR

You had a balance at the start of the previous billing cycle and you paid that balance in full by the due date in the previous billing

cycle.

We figure the interest charge on your account separately for each balance type. We do this by applying the daily rate to the daily balance

How We Calculate

for each day in the billing cycle. A separate daily balance is calculated for the following balance types, as applicable: purchases and

Interest

balances subject to different interest rates, plans or special promotions. See below for more details on how this works.

1. How to get the daily balance. We take the starting balance each day, add any new charges and fees, and subtract any payments or

credits. This gives us the daily balance. Debt cancellation fees, if any, and late payment fees are treated as new purchases.

2. How to get the daily interest amount. We multiply each daily balance by the daily rate that applies.

3. How to get the starting balance for the next day. We add the daily interest amount in step 2 to the daily balance from step 1.

4. How to get the interest charge for the billing cycle. We add all the daily interest amounts that were charged during the billing cycle

for each balance type.

We charge a minimum of $2.00 of interest in any billing cycle in which you owe interest. Interest, as calculated above, is added as

applicable to each balance type. Minimum interest charges in excess of the calculated interest are treated as new purchases.

How Fees Work

We will charge this fee if we do not receive the total minimum payment due on your account by 5 p.m. (ET) on the due date. This fee is

Late Payment Fee

equal to:

1. $25, if you have paid your total minimum payment due by the due date in each of the prior six billing cycles.

2. $35, if you have failed to pay your total minimum payment due by the due date in any one or more of the prior six billing cycles.

The late payment fee will not be more than the total minimum payment that was due.

We will charge this fee if any check, other instrument, or electronic payment authorization you provide us in payment on your account, is

Returned Payment Fee

not honored upon first presentment. We will charge this fee even if the check, instrument or electronic authorization is later honored. This

fee is equal to:

1. $25, if your payments have been honored in each of the prior six billing cycles.

2. $35, if any payment has been dishonored upon first presentment in any one or more of the prior six billing cycles.

The returned payment fee will not be more than the total minimum payment that was due.

Minimum Payment Calculation

Your total minimum payment is calculated as follows.

1. The sum of:

The greater of either:

(i)

$25; or

(ii)

3.25% of the new balance shown on your billing statement (excluding any balance attributable to any special promotional purchase with a unique payment

calculation); or

(iii )

The sum of 1% of your new balance shown on your billing statement (excluding any balance attributable to any special promotional purchase with a unique

payment calculation) plus interest, late payment fees and returned payment fees charged in the current billing cycle; PLUS

Any past due amounts; PLUS

Any payment due in connection with a special promotional purchase with a unique payment calculation.

We round up to the next highest whole dollar in figuring your total minimum payment. Your total minimum payment will never be more than your new balance.

Special Promotional Financing Offer Information

At times, we may offer you special financing promotions for certain transactions (“special promotions”). The terms of this Agreement apply to any special promotions. However,

any special promotional terms that are different than the terms in this Agreement will be explained on promotional advertising or other disclosures provided to you. Below is a

description of certain special promotions that may be offered, in addition to 14.90% APR promotions with a unique payment calculation.

No Interest if Paid in Full Within 6 Months

For each promotion, if the promotional balance is not paid in full within the

promotional period, interest will be imposed from the date of purchase at the

No Interest if Paid in Full Within 12 Months

Purchase APR that applies to your account when the promotional purchase

is made.

No Interest if Paid in Full Within 18 Months

At the time your account is opened, the Purchase APR is 26.99%.

No Interest if Paid in Full Within 24 Months

When you make a qualifying purchase under one of these promotions, no interest will be assessed on the purchase if you pay the following (the “promotional balance”) in full

within the applicable promotional period. If you do not, interest will be assessed on the promotional balance from the date of the purchase. Minimum or fixed monthly payments

are required. Regular account terms apply to non-promotional purchases and, after promotion ends, to promotional purchases. Offers are subject to credit approval. These

promotional offers may not be available at all times for all purchases. Please see any special promotion advertising or other disclosures provided to you for the full terms of any

special promotion offered.

(4)

Application And Credit Card Account Agreement Page 4

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