FR833282333_BELK REWARDS MASTERCARD 
T&C DC PDF WF307391J
3/19

SYNCHRONY BANK 
SECTION I: RATES AND FEES TABLE 
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT 
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

25.49%

APR for Cash Advances

29.99%

Paying Interest

Your due date is at least 23 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. We will 
begin charging interest on cash advances on the transaction date.

Minimum Interest Charge

If you are charged interest, the charge will be no less than $1.00.

Fees

Transaction Fees

• Cash Advance

Either $10 or 5% of the amount of each cash advance, whichever is greater.

• Foreign Transaction

3% of each transaction.

Penalty Fees

• Late Payment

Up to $39.

How We Will Calculate Your Balance: We use a method called “daily balance.” See your credit card account agreement on the next 
page for more details.

1

SECTION II: RATES, FEES AND PAYMENT INFORMATION 
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT

How Interest is Calculated

Your Interest 
Rate

We use a daily rate to calculate the interest on the balance on your account each day. The daily rate is the applicable APR times 1/365. 
Interest will be imposed in amounts or at rates not in excess of those permitted by applicable law.

The daily rate for purchases is .06984% (APR 25.49%).

The daily rate for cash advances is .08217% (APR 29.99%). 

When We 
Charge Interest 

Purchases.  We  charge  interest  on  your  purchases  from  the  date  you  make  the  purchase  until  you  pay  the  purchase  in  full.  See  
exceptions below.

•  We will not charge you interest during a billing cycle on any purchases if:

  1. You had no balance at the start of the billing cycle; OR

  2.  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 will not charge you interest during a billing cycle on Belk Rewards Flex Pay Plan balances if you pay at least:

  1. The Belk Rewards Flex Pay Plan Payment;

  2. The minimum payment on your regular plan balance; and

  3. Any past due amounts by the due date in that billing cycle.

•  We will not charge you interest during a billing cycle on the Table Top/Jewelry Plans if you pay at least:

  1. The minimum payment called for under such Plan;

  2. All other minimum payments on your account; and

  3. Any past due amounts by the due date in that billing cycle.

•  We will credit, as of the start of the billing cycle, any payment you make by the due date that we allocate to purchases if:

  1. You had no balance at the start of the previous billing cycle; OR

  2.  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.

Cash Advances. We charge interest on your cash advances, and their related fees, from the date you make the transaction until you 
pay them in full. You cannot avoid paying interest on cash advances or their related fees.

How We 
Calculate 
Interest

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 
for each day in the billing cycle. A separate daily balance is calculated for the following balance types, as applicable: purchases, cash 
advances and balances subject to different interest rates, plans or special promotions. See below for 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.

We apply fees to balance types as follows:

(a) late payment fees are treated as new purchases; 

(b) debt cancellation fees are added proportionately to each balance; 

(c) cash advance fees are added to the cash advance balance; and

(d) foreign transaction fees are added to the purchase balance.

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.

We charge a minimum of $1.00 of interest in any billing cycle in which you owe interest. This charge is added proportionately to each 
balance type. 

2

How Fees Work

Cash Advance 
Fee

Foreign 
Transaction Fee

Late Payment 
Fee

We will charge this fee for each cash advance you make. For ATM cash advances this fee is in addition to any fee the ATM owner may 
charge you for use of the ATM.

We will charge this fee for purchases or cash advances you make in currencies other than U.S. dollars and/or in a country other than the U.S., 
whether or not the transaction was in a foreign currency. 

If you make a transaction with your account in a currency other than U.S. dollars, Mastercard will convert the transaction amount into U.S. 
dollars  using  its  currency  conversion  procedure.  Under  the  currency  conversion  procedure  that  Mastercard  currently  uses,  the  non-U.S. 
dollar transaction amount is converted into a U.S. dollar amount by multiplying the transaction amount in the non-U.S. dollar currency by a 
currency conversion rate. The currency conversion rate that Mastercard typically uses is either a government-mandated rate, or a wholesale 
rate provided to Mastercard. The currency conversion rate that Mastercard uses for a particular transaction is the rate Mastercard uses for the 
applicable currency when the transaction is processed. This rate may differ from the rate in effect when the transaction occurred or when it 
was posted to your account, and may be higher than the rate you could have gotten if you had converted U.S. dollars into the foreign currency.

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 equal to:

1. $28, if you have paid your total minimum payment due by the due date in each of the prior six billing cycles.

OR

2. $39, 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.

Minimum Payment Calculation

Your total minimum payment is calculated as follows.

The greater of: 

1.   $28, or $39 (which includes any past due amounts). If you have both a regular balance and a Belk Rewards Flex Pay Plan balance on your account, this amount will 

be allocated proportionately to each balance.

OR

2.  The sum of the following amounts on each of your regular balance and your Belk Rewards Flex Pay Plan balance:

a.  1% of your new balance (excluding any balance associated with a Belk special promotional purchase with a unique payment calculation, such as a Table Top/

Jewelry Plan purchase) shown on your billing statement plus interest charged in the current billing cycle on such balance; PLUS

b.  Any past due amounts; PLUS

c.  Any late payment fees charged in the current billing cycle; PLUS

d.  Any payment due in connection with a Belk special promotional purchase with a unique payment calculation, such as a Table Top/Jewelry Plans purchase. 
For  accounts  with  a  Qualifying  Purchase(s)  on  the  Table  Top/Jewelry  Plans,  your  minimum  monthly  payment  on  such  Qualifying  Purchase  will  be  1/12  of 
the highest billed balance of Qualifying Purchases since a Qualifying Purchase was last made on your account, rounded to the next  highest dollar. Optional  
credit insurance/debt cancellation charges and any applicable interest charges on Qualifying Purchases are included in the Qualifying Purchase balance and must 
be paid each month. Payments required in connection with a special promotional purchase with a unique payment calculation, such as a Table Top/Jewelry Plan 
purchase, will not be increased, but may be included in the $28 or $39 minimum amount otherwise due on your account.

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.

Belk Rewards Flex Pay Plan Payment. For accounts with the Belk Rewards Flex Pay Plan, on purchases from Belk locations and on belk.com, each month, instead 
of making the minimum payment as determined above on your Belk Rewards Flex Pay Plan balance (which includes any applicable late payment fees), you may elect 
to make a Belk Rewards Flex Pay Plan Payment which will initially be the greater of $75 or 1/3 of the initial Belk Rewards Flex Pay Plan balance, rounded to the next 
highest dollar, unless and until additional purchases are charged on the Belk Rewards Flex Pay Plan. After any new purchases are made on the Belk Rewards Flex Pay 
Plan, each Belk Rewards Flex Pay Plan Payment will be the greater of $75 or 1/3 of the new Belk Rewards Flex Pay Plan balance after such new purchases are added, 
rounded to the next highest dollar. In each case, any past due amounts on the Belk Rewards Flex Pay Plan balance will be added to the Belk Rewards Flex Pay Plan 
Payment. However, the Belk Rewards Flex Pay Plan Payment is the Belk Rewards Flex Pay Plan balance if such balance is less than $75.

SECTION III: STANDARD PROVISIONS  
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT

ABOUT THE CREDIT CARD ACCOUNT AGREEMENT

This Agreement. This is an Agreement between you and Synchrony Bank, 170 Election Road, Suite 125, Draper, UT 84020, for your credit card account shown 
above. By opening or using your account, you agree to the terms of the entire Agreement. The entire Agreement includes the four sections of this document and 
the application you submitted to us in connection with the account. These documents replace any other agreement relating to your account that you or we made 
earlier or at the same time.

Parties To This Agreement. This Agreement applies to each accountholder approved on the account and each of you is responsible for paying the full amount 
due, no matter which one uses the account. We may treat each of you as one accountholder and may refer to each of you as “you” or “your.” Synchrony Bank 
may be referred to as “we,” “us” or “our.”

Changes To This Agreement. We may change, add or delete terms of this Agreement, including interest rates, fees and charges.

Special Promotions. The terms of this Agreement apply to any special promotion. 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.

3

HOW TO USE YOUR ACCOUNT/CARD

Use  Of  Your  Account.  You  may  use  your  account  only  for  lawful  personal,  family  or  household  purposes.  You  may  use  your  account  for  purchases  from   
Belk stores, Belk online locations or other places account may be used or from any merchant that accepts Mastercard credit cards. You may get cash advances 
as further explained below. You may not use your account to pay amounts you owe us on this account or any other account you have with us.

There are two types of plan (“Plans”) balances that may appear on your account: regular plan balances (which may include Special Payment Plan purchases) and 
Belk Rewards Flex Pay Plan balances, if the Belk Rewards Flex Pay Plan is added to your account. When the Belk Rewards Flex Pay Plan is added to your account, 
any future non-promotional purchases made on your account will automatically be included in the Belk Rewards Flex Pay Plan. Any purchases made prior to the Belk 
Rewards Flex Pay Plan being added to your account will remain in the regular plan balance until paid off. Each month you may elect to pay the Belk Rewards Flex 
Pay Plan Payment or the Belk Rewards Flex Pay Plan balance or the minimum payment otherwise required. The way we calculate the minimum payment and interest 
charges is different for each of these Plans. The other terms and conditions in this Agreement will apply to both Plans.

The Table Top Special Payment Plan and Fine Jewelry Special Payment Plan (together the “Table Top/Jewelry Plans”) are two Special Payment Plans that you may 
request be added to your account for Qualifying Purchases as defined herein. Currently, an eligible purchase for the Table Top Special Payment Plan is an initial 
minimum purchase of at least $300.00 of guild products (such as china, crystal, silver or table linens) and any subsequent Table Top purchase of $25.00 or more. 
An eligible purchase for the Fine Jewelry Special Payment Plan is an initial minimum purchase of $500.00 of fine jewelry and any subsequent fine jewelry purchase of 
$150.00 or more. Table Top/Jewelry Plans are available for in-store purchases only. All eligible purchases placed on the Table Top/Jewelry Plans at your request are 
referred to in this Agreement as “Qualifying Purchases.” Although Qualifying Purchases under the Table Top/Jewelry Plans are included in your regular balance, the 
way we calculate the minimum payment and interest charges is different. The other terms and conditions in this Agreement will apply to the Table Top/Jewelry Plans.

Cash Advances. We may offer you the opportunity to get a cash advance with convenience checks that we send you. We may not honor a convenience check 
for any reason stated on the check. You can also get cash or make a withdrawal from any institution or ATM that accepts the card or the account. In addition, 
we will treat any purchase of certain cash like items as cash advances. Cash like items include for example, money orders, cashier’s checks, traveler’s checks, 
electronic or wire transfers, foreign currency or other in bank transactions, tax payments, lottery tickets or other legalized gambling transactions, court costs, bail 
bonds and fines.

You Promise To Pay. You promise to pay us for all amounts owed to us under this Agreement. 

Your Responsibility. Each accountholder will receive a card. You may not allow anyone else to use your account. If you do, or if you ask us to send a card to 
someone else, you will be responsible for paying for all charges resulting from their transactions.

Transaction Limits. To prevent fraud, we may limit the number or dollar amount of any type of transactions you can make in any particular amount of time. We 
also may decline any particular charge on your account for any reason.

Credit Limit. You will be assigned a credit limit and cash advance limit on your account that we may increase or decrease from time to time. If we approve a 
transaction that makes you go over your credit limit or your cash advance limit, we do not give up any rights under this Agreement and we do not treat it as an 
increase in either limit. 

HOW AND WHEN TO MAKE PAYMENTS

When Payments Are Due. You must pay at least the total minimum payment due on your account by 5 p.m. (ET) on the due date of each billing cycle. Payments 
received after 5 p.m. (ET) will be credited as of the next day. You may at any time pay, in whole or in part, the total unpaid balance without any additional charge 
for prepayment. If you have a balance subject to interest, earlier payment may reduce the amount of interest you will pay. We may delay making credit available 
on your account in the amount of your payment even though we will credit your payment when we receive it.

Payment Options. You can pay by mail, online or at a Belk store. We may allow you to make payments over the phone but we will charge you a fee to make 
expedited phone payments. Your payment must be made in U.S. dollars by physical or electronic check, money order or a similar instrument from a bank located 
in the United States.

How To Make A Payment. You must follow the instructions for making payments provided on your billing statement. If you do not, credit of your payment may 
be delayed up to five days. Your billing statement also explains how information on your check is used.

Payment Allocation. We will apply the required total minimum payment to balances on your account using any method we choose. Any payment you make in 
excess of the required total minimum payment will be applied to higher APR balances before lower APR balances. Applicable law may require or permit us to apply 
excess payments in a different manner in certain situations, such as when your account has a certain type of special promotion.

INFORMATION ABOUT YOU 

Using And Sharing Your Information. When you applied for an account, you gave us and Belk, Inc. information about yourself that we could share with each 
other. Belk, Inc. will use the information in connection with the credit program and for things like creating and updating its records and offering you special benefits. 
More information about how we use and share information is set forth in the privacy policy for your account. 

Address/Phone Change. You represent that any phone number that you provide to us belongs to you and/or that you are authorized to provide that number. 
You also agree to tell us right away if you change your address or any phone number. 

Consent To Communications. You consent to us, as well as any other owner or servicer of your account, contacting you through any channel of communication 
and for any purpose, as permitted by applicable law. For informational, servicing, fraud, or collection related communications, you agree that we may use the 
phone numbers that you provide to us to contact your cellular phone or wireless device with text messages, artificial or prerecorded voice calls, and calls made by 
an automatic telephone dialing system. Text frequency may vary and may be recurring. This consent applies even if you are charged for the call under your plan. 
You are responsible for any charges that may be billed to you by your communications carrier when we contact you. Message and data rates may vary. We and 
any carrier are not liable for delayed or undelivered messages. If you have questions, please call the number on the back of your card.

Telephone Monitoring. For quality control, you allow us to listen to and/or record telephone calls between you and us.

IMPORTANT INFORMATION ABOUT YOUR ACCOUNT 

Closing Your Account. You may close your account at any time by sending a letter to the address shown on your billing statement or calling customer service. 
We may close your account at any time, for any reason. If your account is closed, you must stop using it. You must still pay the full amount you owe and this 
Agreement will remain in effect until you do.

Collection Costs. If we ask an attorney who is not our salaried employee to collect your account, we may charge you our collection costs. These include court 
costs and reasonable attorneys’ fees.

Credit  Bureau  Reporting.  We  may  report  information  about  your  account  to  credit  bureaus.  Late  payments,  missed  payments,  or  other  defaults  on  your 
account may be shown in your credit report. Tell us if you think we reported wrong information about you to a credit bureau. Write to us at P.O. Box 965028, 
Orlando, FL 32896-5028. Tell us what information is wrong and why you think it is wrong. If you have a copy of the credit report that includes the wrong information, 
send us a copy. 

4

Default. You are in default if you make a late payment, do not follow any other term of this Agreement or become bankrupt or insolvent. If you default or upon your 
death, we may (a) request payment of the full amount due right away, (b) take legal action to collect the amounts owed, and/or (c) take any other action allowed. 

Disputed Amounts. The billing rights summary in section IV of this Agreement describes what to do if you think there is a mistake on your bill. If 
you send us correspondence about a disputed amount or payment, you must send it to the address for billing inquiries. We do not give up any 
rights under this Agreement if we accept a payment marked “payment in full” or given with any other conditions or limitations.

Unauthorized Use. If your card is lost, stolen or used without your consent, call us immediately at 1-855-752-8046. You will not be liable for unauthorized use 
on your account, but you will be responsible for all use by anyone you give your card to or allow to use your account.

IMPORTANT INFORMATION ABOUT THIS AGREEMENT 

Assignment. We may sell, assign or transfer any or all of our rights or duties under this Agreement or your account, including our rights to payments. We do not 
have to give you prior notice of such action. You may not sell, assign or transfer any of your rights or duties under this Agreement or your account.

Enforceability. If any part of this Agreement is found to be void or unenforceable, all other parts of this Agreement will still apply.

Governing Law. Except as provided in the Resolving a Dispute with Arbitration section, this Agreement and your account are governed by federal law and, to the 
extent state law applies, the laws of Utah without regard to its conflicts of law principles. This Agreement has been accepted by us in Utah.

Waiver.  We  may  give  up  some  of  our  rights  under  this  Agreement.  If  we  give  up  any  of  our  rights  in  one  situation,  we  do  not  give  up  the  same  right  in   
another situation.

RESOLVING A DISPUTE WITH ARBITRATION 

PLEASE READ THIS SECTION CAREFULLY. IF YOU DO NOT REJECT IT, THIS SECTION WILL APPLY TO YOUR ACCOUNT, AND MOST DISPUTES 
BETWEEN YOU AND US WILL BE SUBJECT TO INDIVIDUAL ARBITRATION. THIS MEANS THAT: (1) NEITHER A COURT NOR A JURY WILL RESOLVE 
ANY SUCH DISPUTE; (2) YOU WILL NOT BE ABLE TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING; (3) LESS INFORMATION 
WILL BE AVAILABLE; AND (4) APPEAL RIGHTS WILL BE LIMITED.

• What claims are subject to arbitration

1.  If either you or we make a demand for arbitration, you and we must arbitrate any dispute or claim between you or any other user of your account, and 

us, our affiliates, agents and/or Belk, Inc., if it relates to your account, except as noted below. 

2.  We will not require you to arbitrate: (1) any individual case in small claims court or your state’s equivalent court, so long as it remains an individual case 
in that court; or (2) a case we file to collect money you owe us. However, if you respond to the collection lawsuit by claiming any wrongdoing, we may 
require you to arbitrate.

3.  Notwithstanding any other language in this section, only a court, not an arbitrator, will decide disputes about the validity, enforceability, coverage or 
scope of this section or any part thereof (including, without limitation, the next paragraph of this section and/or this sentence). However, any dispute or 
argument that concerns the validity or enforceability of the Agreement as a whole is for the arbitrator, not a court, to decide.

• No Class Actions

YOU AGREE NOT TO PARTICIPATE IN A CLASS, REPRESENTATIVE OR PRIVATE ATTORNEY GENERAL ACTION AGAINST US IN COURT 
OR  ARBITRATION.  ALSO,  YOU  MAY  NOT  BRING  CLAIMS  AGAINST  US  ON  BEHALF  OF  ANY  ACCOUNTHOLDER  WHO  IS  NOT  AN 
ACCOUNTHOLDER ON YOUR ACCOUNT, AND YOU AGREE THAT ONLY ACCOUNTHOLDERS ON YOUR ACCOUNT MAY BE JOINED IN A 
SINGLE ARBITRATION WITH ANY CLAIM YOU HAVE. 

If a court determines that this paragraph is not fully enforceable, only this sentence will remain in force and the remainder will be null and void, and the 
court’s determination shall be subject to appeal. This paragraph does not apply to any lawsuit or administrative proceeding filed against us by a state or 
federal government agency even when such agency is seeking relief on behalf of a class of borrowers, including you. This means that we will not have the 
right to compel arbitration of any claim brought by such an agency.

• How to start an arbitration, and the arbitration process

1.  The  party  who  wants  to  arbitrate  must  notify  the  other  party  in  writing.  This  notice  can  be  given  after  the  beginning  of  a  lawsuit  or  in  papers  filed 
in  the  lawsuit.  Otherwise,  your  notice  must  be  sent  to  Synchrony  Bank,  Legal  Operation,  P.O.  Box  29110,  Shawnee  Mission,  KS  66201,  ATTN: 
ARBITRATION DEMAND. The party seeking arbitration must select an arbitration administrator, which can be either the American Arbitration Association 
(AAA), 120 Broadway, Floor 21, New York, NY 10271, www.adr.org, (800) 778-7879, or JAMS, 620 Eighth Avenue, 34th Floor, New York, NY 10018, 
www.jamsadr.com, (800) 352-5267. If neither administrator is able or willing to handle the dispute, then the court will appoint an arbitrator. 

2.  If a party files a lawsuit in court asserting claim(s) that are subject to arbitration and the other party files a motion with the court to compel arbitration, 

which is granted, it will be the responsibility of the party asserting the claim(s) to commence the arbitration proceeding. 

3.  The arbitration administrator will appoint the arbitrator and will tell the parties what to do next. The arbitrator must be a lawyer with at least ten years of 
legal experience. Once appointed, the arbitrator must apply the same law and legal principles, consistent with the FAA, that would apply in court, but 
may use different procedural rules. If the administrator’s rules conflict with this Agreement, this Agreement will control. 

4.  The arbitration will take place by phone or at a reasonably convenient location. If you ask us to, we will pay all the fees the administrator or arbitrator 
charges, as long as we believe you are acting in good faith. We will always pay arbitration costs, as well as your legal fees and costs, to the extent you 
prevail on claims you assert against us in an arbitration proceeding which you have commenced.

• Governing Law for Arbitration

 This Arbitration section of your Agreement is governed by the Federal Arbitration Act (FAA). Utah law shall apply to the extent state law is relevant under 
the FAA. The arbitrator’s decision will be final and binding, except for any appeal right under the FAA. Any court with jurisdiction may enter judgment upon 
the arbitrator’s award.

• How to reject this section

 You may reject this Arbitration section of your Agreement. If you do that, only a court may be used to resolve any dispute or claim. To 
reject this section, you must send us a notice within 60 days after you open your account or we first provided you with your right to reject 
this section. The notice must include your name, address and account number, and must be mailed to Synchrony Bank, P.O. Box 965012, 
Orlando, FL 32896-5012. This is the only way you can reject this section.

5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
SECTION IV: OTHER IMPORTANT INFORMATION 
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT

This section of the agreement includes state notices, billing rights summary and rewards terms (if applicable) and is not required to be provided as part of the credit 
card agreement posted online or provided to the CFPB.

FR833282333_BELK REWARDS MASTERCARD 
T&C DC PDF WF307391J
3/19

6