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Terms and Conditions
REVOLVING CREDIT AGREEMENT AND DISCLOSURE STATEMENT
This is a partial text of your Agreement with CitiFinancial Retail Services Division of
Travelers Bank & Trust, fsb, Newark, Delaware.
Please Read This Agreement And Keep It For Your Records.
Full text of the agreement will accompany the formal application which you must sign and return
as part of the application process. |
Annual Percentage Rate
(APR) for Purchases |
23.99% |
| Daily Periodic Rate |
0.065726% |
| Other APRs |
Default Rate: 26.99%
*See Explanation Below |
Grace Period For Repayment
Of Balances For Purchases |
None |
Method of Computing the
Balances For Purchases |
Average Daily Balance
(including new purchases) |
| Annual Fees |
None |
| Minimum Finance Charge |
$.50 |
Late Payment Fee: $29
Return Instrument Fee: $20 (charged once per instrument returned) |
Promise to Pay: You agree to pay use for all purchases, advances made on your Account, applicable Finance Charges and other charges or fees under this Agreement, including but not limited to, late payment fees, returned instrument fees, and credit insurance charges, if any, incurred by you or anyone you authorize to use your Account or Card, plus collection costs, including court costs and reasonable attorneys' fees if not prohibited by applicable law. If your Account is a joint Account, you or your joint Account Holder each agree to pay and are jointly and individually responsible for all amounts owed on your Account; this means that we may collect these amounts from each of you or from all of you. Payments are to be made in U.S. Dollars.
Credit Plans: In addition to purchases that accrue Finance Charges and require minimum payments as described below, the following special Credit Plans many be offered from time to time only as specified on the sales slips honoring the Card or your Account or indicated on the periodic billing statement: NO PAY (Delayed Payment) - No minimum monthly payment will be due until teh payment due date of the billing cycle following the expiration of the delayed payment period, with Finance Charges accruing from the date of purchase. NO INTEREST (Waived Finance Charges) - No Finance Charges will accrue on the purchase until the day following the expiration of the "no interest" promotional period, with minimum monthly payments due each billing cycle. NO INTEREST/NO PAYMENT (Waived Finance Charges/Delayed Payment) - No minimum monthly payments will be due and no Finance Charges will accrue on the purchase until the expiration of the deferred period. SAME AS CASH - Finance Charges will accrue on the purchase from the date of purchase and minimum monthly payments will be due each billing cycle. If, however, you pay the cash sales price of the purchase by the promotion expiration date as indicated on your billing statement, no Finance Charges will be due on the purchase. NO PAY/SAME AS CASH (Delayed Payment/Same as Cash) - Finance Charges will accrue on the purchase from the date of purchase but no minimum monthly payments will be due prior to the promotion expiration date as indicated on your billing statement, and if you pay the cash sales price of the purchase by the promotion expireation date, no Finance Charges will be due on the purchase. FREE FINANCING (Waived Finance Charges/ Payment Required) - We will not add Finance Charges on your purchase for a specific period of time assuming you make the required minimum payment and the account is paid as agreed; if a balance remains after the term of the specified period expires, Finance Charges are assessed at the rate disclosed in this Revolving Credit Agreement. REDUCED RATE - A reduced rate Finance Charge will be applied to the attributable to the purchase until the expiration if the reduced rate period or payment in full of the reduced rate balance, whichever occurs first. All purchases which do not fall under the special Credit Plans described above are referred to as Regular Plan Purchases. You can obtain more information about the availability of the Credit Plans from the merchant who honors this Account. We may cancel the availability of any of the Credit Plans at any time for any reason.
Finance Charges: The Finance Charge is part of the interest on your Account. The Finance Charge for each billing cycle is computed by multiplying the "Average Daily Balance" by the daily periodic rate of 0.065726% (corresponding 23.99% ANNUAL PERCENTAGE RATE) times the number of days in the billing cycle. We use the "Average Daily Balance" of each credit plan to calculate total Finance Charges on your account. Finance Charges are calculated on each Credit Plan, and each purchase is considered a separate Credit Plan. We start with the beginning balance of each Credit Plan. We do not include unpaid Finance Charges or fees in the beginning balance. Then we add up all the daily balances for the beginning period and divide by the total number of days in the billing period. This gives us the "Average Daily Balance" of each Credit Plan.
We then add together the Finance Charge amounts to get the total Finance Charge on the Account. In addition, if you make a purchase under a No Pay or a Reduced Rage Credit Plan, we will add the ammount of the Finance Charge that has accrued on the Average Daily Balance of the purchase from the date of purchase through and including the last day of the deferred period. We will charge you a minimum FINANCE CHARGE of $.50 for each billing cycle in which a FINANCE CHARGE is due.
Finance Charges for all purchases except special Credit Plan purchases begin to accrue on the date of sale unless delivery is more than ten (10) days after the date of sale, in which case such chareges being on the date of delivery. Finance Charges on No Pay purchases begin to accrue from the date of purchase. For No Interest purchases, the Finance Charge will accrue on the purchase as of the first day following the expiration of the "no interest" period indicated on the billing statement. On No Interest / No Payment pruchases, Finance Charges will accrue from the first day after the deferred period ends. If the Same as Cash purchase and the No Pay / Same as Cash purchase balance is not paid in full upon expiration of the deferred period, the Finance Charge will be earned and added to the balance for that month. If the Free Financing purchase balance is not paid during the deferred period as scheduled, Finance Charges will be earned and added to the balance for that month. Reduced Rate - A reduced rate Finance Charge will be applied to the balance attributable to the purchase until the expiration of the reduced rate period or payment in full of the reduced rate balance, whichever occurs first.
Late Payment Fee: For each billing period in which we fail to receive payments or credits on your Account at least equal to the Minimum Payment Due on or before the fifth (5th) day following the Payment Due Date shown on your billing statement, you agree to pay us a $29 late payment fee.
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