BBVA Compass Select Credit Card Agreement
(May Not Be Available to Residents of All States)
This Agreement and the documents listed below govern the use of your BBVA Compass Select credit
card account with Compass Bank ("Account") and each BBVA Compass Select credit card issued to
access the Account (a "Card"). These other documents are part of this Agreement:
The application or solicitation ("Application") you signed or otherwise gave us to ask for the
Account; and
The folder sent with each Card ("Card Folder").
Please read and keep these documents for your records.
1.
Parties and Addresses:
(a)
Bank: In this Agreement, "we", "us" and "our" refer to Compass Bank and anyone to
whom we give or sell your Account. Unless we tell you otherwise, our mailing address is:
Compass Bank Card Center, P.O. Box 2210, Decatur, Alabama 35699-0001.
(b)
You: "You" and "your" refer to each person (1) who applied for the Account, or (2) who
agreed to be responsible for the Account. We will send bills and other notices to the
address you give us. You promise to tell us right away if that address changes.
2.
Joint Accounts: If you have a joint Account, each of you may use the Account. We may ask any
one of you to pay any balance due. Any one of you may give us any notice under this Agreement.
If you give us different notices or make different requests, we may pick which one to honor
without telling any of you. We will not owe anything to you or anyone else because we picked one
of your notices or requests.
3.
Promise to Pay: You promise to pay us for all transactions on your Account, including those by
anyone whom you allow to use the Account. You also promise to pay any interest, fees and other
amounts you owe us under this Agreement. By keeping, using or permitting others to use the
Account or any Card, you agree to the terms of this Agreement.
4.
Governing Law: This Agreement and your Account will be governed by (1) federal law, and
(2) to the extent not preempted by federal law, the laws of Alabama, without regard to its
conflicts of law provisions. We accepted this Agreement in Alabama.
5.
Changing This Agreement: We may change this Agreement unless an applicable law says we
may not. We will tell you when changes will be effective and how they will apply to your Account.
You may not change this Agreement unless we agree in writing.
6.
Using Your Account: You may use your Account to make three types of transactions:
(a)
Purchases: You may purchase or lease goods or services from any merchant that
accepts your Card or Account.
(b)
Cash Advances: You may obtain cash or other advances by using your Card or Account
in any of the following ways:
From us or any other financial institution or automated teller machine ("ATM")
that accepts your Card;
By using a convenience check ("Check") as explained in Section 16 below.
Payments you make to another creditor using a Check are Cash Advances (and
not Balance Transfers) under this Agreement;
By purchasing items that can be traded right away for cash, such as wire
transfers, money orders, traveler's checks, lottery tickets or casino chips;
By placing bets or wagers (if legal) or to make tax or other similar payments; or
By getting an advance deposited to a Compass checking account if you are
enrolled in an overdraft protection program under a separate agreement with us.
(c)
Balance Transfers: You may ask us to transfer to your Account a balance you owe to
another creditor. If we approve your request, we will pay the other creditor directly. As
noted above, payments you make to another creditor using a Check are Cash Advances
(and not Balance Transfers) under this Agreement. Balance Transfers are Cash
Advances under this Agreement, except that the APR for Purchases (and not the APR for
Cash Advances) will apply to Balance Transfers.
7.
Illegal and Online Gambling Transactions: You agree not to use your Account for any
transaction that is illegal where you live or where the transaction takes place. You must find out if
a transaction is legal before you make it. You also agree not to use your Account for any Internet
or online gambling transaction, even if it is legal. We may refuse to authorize any illegal, Internet
or online gambling transaction. If we do authorize the transaction, you agree to pay us for it
unless an applicable law says you may not.
8.
Credit Limits: We will tell you your starting credit limits on the Card Folder. Your billing
statements also will show your credit limits and available credit.
(a)
Separate Limits: We will give you a credit limit for your Account. We also may give you
different limits for different types of transactions. For example, we may tell you that you
can only use part of your credit limit for Cash Advances.
(b)
When Your Payments Increase Available Credit: We may delay increasing your available
credit for up to 10 days after you make a payment.
(c)
Authorizing Requested Transactions: Each attempt by you or any authorized user to
make a Purchase or to obtain a Cash Advance on your Account, whether with a Card or
Check or otherwise, is considered a request for credit under this Agreement in the
amount of that transaction (a "Requested Transaction"). Your Account has no pre-set
spending limit. This does not mean that you may make unlimited Purchases or obtain
unlimited Cash Advances. It means that we will evaluate each Requested Transaction
and determine, in our sole discretion, whether to authorize or make payment on that
transaction based on a variety of factors, which may include your Account history, your
relationship with us, information from consumer credit reports obtained from credit
bureaus, our understanding of your payment resources, the outstanding balance on your
Account, prior Cash Advances on your Account, safety and soundness considerations,
and whether the transaction appears to be fraudulent. In certain circumstances, we may
ask for additional information to determine whether we will authorize or make payment on
a Requested Transaction. If we authorize or make payment on any Requested
Transaction that would cause the outstanding balance on your Account to exceed your
credit limit, you will be required to pay, as part of your next Minimum Payment Due, the
full amount by which your New Balance exceeds your credit limit, as provided more fully
in Section 13 below. This Agreement will apply to any credit we have extended to you in
excess of your credit limit.
(d)
Changes to Your Credit Limit: You may request an increase in your credit limits by calling
us at 1-866-681-0484, and we might agree to your request. We may change your credit
limits at any time. For example, we may (1) increase or decrease any of your credit limits
or (2) cancel your available credit. We will tell you first or get your permission if an
applicable law requires us to. You still will have to pay all amounts you owe under this
Agreement.
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9.
Billing Statements: We will send you a bill at the end of each monthly billing cycle if applicable
law requires. Read each bill as soon as you get it. Tell us right away if you see any error or
problem. Your bill will show important information about your Account, including:
The unpaid balance at the end of the billing cycle ("New Balance");
The minimum amount of your next payment ("Minimum Payment Due");
When your next payment is due ("Payment Due Date"); and
The date of the bill ("Statement Date").
10.
Interest: Each billing cycle, we will charge interest to you on the average daily balance for each
type of transactions on your Account. By type of transactions, we mean Purchases, Cash
Advances, Balance Transfers and any transactions subject to a special offer. To calculate the
interest owed on your Account for each billing cycle, we first figure out the average daily balance
for each type of transactions. Next, we multiply the average daily balance by the applicable
interest rate. Interest rates are explained in the next section. Then, we multiply the resulting
amount by the number of days in the billing cycle. After calculating the amount of interest
owed
for each type of transactions, we add together these amounts to determine the total amount of
interest owed on your Account for the billing cycle.
(a)
Average Daily Balance: To get the average daily balance for each type of transactions,
(1) we take the beginning balance for that transaction-type, (2) we add any new
transactions, debits and fees, and (3) subtract any payments or credits. We also add an
amount of interest equal to the previous day's balance multiplied by the applicable daily
interest rate. This gives us the daily balance.
The beginning balance for Purchases will include any unpaid Purchase
transactions; any unpaid interest on those Purchases; any unpaid Late Fee,
Returned Payment Fee and Document Fee, including any Purchase subject to a
special offer APR.
The beginning balance for Cash Advances will include any unpaid Cash Advance
transactions; any unpaid interest on those Cash Advances; any unpaid Skip
Payment Fee, Expedited Payment Fee, Transfer Fee and Rate Reduction Fee;
and any unpaid Cash Advance Fee charged on a Cash Advance, including any
Cash Advance subject to a special offer APR.
The beginning balance for Balance Transfers will include any unpaid Balance
Transfer transactions; any unpaid interest on those Balance Transfers; and any
unpaid Balance Transfer Fee charged on a Balance Transfer, including any
Balance Transfer subject to a special offer APR.
The beginning balance for any transactions subject to a special offer APR will
include any unpaid balance on those transactions, and any unpaid interest on
those transactions.
Next, we add up all the daily balances for the billing cycle, and then divide this total by
the number of days in the billing cycle. This gives us the average daily balance. This
method of calculating the average daily balance results in charging interest on
unpaid interest (also known as compounding) and fees.
(b)
When Interest Charges Start on Cash Advances: We start charging interest on Cash
Advances (including Balance Transfers) on the transaction date. For Checks or Balance
Transfers, the transaction date is the later of (1) the date we get and/or pay the Check or
Balance Transfer or (2) the first day of the billing cycle in which we add the transaction to
your Account. For other Cash Advances, the transaction date is the later of (1) the date
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you get the Cash Advance or (2) the first day of the billing cycle in which we add the
transaction to your Account. There is no way to avoid interest on Cash Advances.
(c)
Avoiding Interest on Purchases (Grace Period): Your Payment Due Date is at least 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 Payment Due Date each billing cycle. Where required
by applicable law, we will not charge interest on any portion of a Purchase balance that is
repaid by the first specified due date after each Purchase was made if you paid the entire
balance for the previous billing cycle by the specified due date. Except as described
above, if you do not pay your entire balance by the Payment Due Date, we will start
charging interest on each new Purchase on the later of (1) the date you make the
Purchase, or (2) the first day of the billing cycle in which we add the Purchase to your
Account. We will pay down your Purchase balance and other balances as described in
"Payment Allocation" in Section 13(e) below.
(d)
Minimum Interest Charge for Purchases: If you are charged interest on Purchases, the
charge will be no less than $1.
11.
Interest Rates: We figure out how much interest you owe each billing cycle using daily periodic
rates. We get the daily periodic rates by dividing each annual percentage rate ("APR") below by
365. The interest rates that apply to your Account are shown on the Card Folder and each billing
statement.
(a)
APR for Purchases and Balance Transfers: The APR for Purchases will be equal to the
Prime Rate plus any margin shown on the Card Folder. The APR for Balance Transfers is
the same as the APR for Purchases.
(b)
APR for Cash Advances: The APR for Cash Advances will be equal to the Prime Rate
plus any margin shown on the Card Folder.
(c)
Discounted Introductory APR: From time to time we may offer a discounted introductory
APR. Any discounted introductory APR that applies to your Account will be shown on the
Card Folder.
(d)
Variable Rates: Except for any discounted introductory APR, your APRs will vary with the
market based on the Prime Rate. We use the Prime Rate in the Wall Street Journal two
business days before the Statement Date for each billing cycle. Your APRs may increase
if the Prime Rate increases. If your APRs increase, the amount of interest you will owe
and the Minimum Payment Due may increase.
(e)
Reevaluation of Increased Rates: If the APRs on your Account are increased, we will
reevaluate your Account as required by law to determine whether you qualify for an APR
reduction.
12.
Fees: You agree to pay the following fees, which will be charged to your Account.
(a)
Annual Fee: The amount of this fee if any is shown on the Card Folder. If you are
charged a fee, the fee will be charged to your Account shortly after the time it is opened
unless otherwise indicated in your Card Folder. For each year that your Account remains
open, the fee will be charged during the same month that it was initially charged.
(b)
Transaction Fees:
Cash Advance Fee: For each Cash Advance, a fee of $10 or 4% of the Cash
Advance, whichever is greater.
Balance Transfer Fee: For each Balance Transfer, a fee of $10 or 4% of the
Balance Transfer, whichever is greater.
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Foreign Transaction Fee: As an added benefit to your Account we will not assess
a Foreign Transaction Fee on transactions made (1) in a foreign currency, (2)
outside of the United States, or (3) with a foreign merchant. Foreign currency will
be converted to U.S. dollar amount with settlement subject to Visa Foreign
Currency Conversion procedures.
(c)
Penalty Fees: We will charge penalty fees in the amounts established by the Bureau of
Consumer Financial Protection, which currently are $25 and $35. The Bureau of
Consumer Financial Protection may adjust these amounts annually to reflect changes in
the Consumer Price Index (CPI), and we may revise any of the penalty fees below to
reflect the CPI adjustments. We will not charge more than one penalty fee for a single
event or transaction that violates multiple terms of this Agreement.
Late Fee: A fee if we do not receive at least the Minimum Payment Due by the
Payment Due Date (or the next business day if your Payment Due Date falls on
a
Saturday, Sunday or holiday). For any late payment, this fee will be:
$25 if you have had no late payment during any of the previous 6 billing
cycles, or
$35 if you have had any late payment during any of the previous 6 billing
cycles,
but never more than the full amount of the Minimum Payment Due (as shown on
your billing statement) that was due immediately before the fee is assessed
(rounded up or down to the nearest dollar).
Returned Payment Fee: A fee if a check or similar instrument or any debit for
payment on your Account is returned unpaid for any reason. The amount of this
fee will be $25 or the full amount of the Minimum Payment Due that was due
immediately before the payment was returned (rounded up or down to the
nearest dollar), whichever is less. We will charge the fee even if the check or
debit is later honored or paid.
Returned Check Fee: A fee if we return a Check for any reason. The amount of
this fee will be $25 or the amount of the Check that is returned (rounded up or
down to the nearest dollar), whichever is less.
(d)
Other Fees:
Stop Payment Fee: A fee of $29 for each stop payment request on a Check, as
described in Section 16, whether or not we actually stop payment, subject to any
restrictions of applicable law.
Expedited Delivery Fee: A fee if you request and we agree to arrange for
expedited delivery of any Card or Checks to you (for example, by an overnight
delivery service). We will disclose the amount of this fee at the time you request
this service. If you then confirm and we honor your request, we will charge the
fee disclosed at the time of the request.
Document Fees: The following fees for each copy of a sales slip, paid Check or
billing statement you request:
For copies of sales slips or Checks: $5 for each item requested
For duplicate copies of billing statements:
$7 for each statement from the previous 12 months,
$17 for each statement more than 12 months but not more than 24
months old,
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$27 for each statement more than 24 months but not more than 36
months old, and
$37 for each statement more than 36 months old.
There will be no charge for any item you request in good faith in connection with
the resolution of any disputed billing matter.
Transfer Fee: A fee of $25 (in addition to any Cash Advance Fee) if you request
us to deposit a Cash Advance directly in your checking account, and we honor
your request.
Expedited Payment Fee: A fee of $15 if you request us to expedite payment on
your Account by debiting any deposit or other account you designate, and we
honor your request.
Skip Payment Fee: A fee of $35 if we offer and you accept the option to skip any
monthly payment and your Minimum Payment Due would have been $200 or
more.
Rate Reduction Fee: A fee of $75 if a reduction in any interest rate, fee or other
charge is offered by us and accepted by you, or requested by you and honored
by us, even if this reduction is only for a temporary or limited time period. If we
intend to charge this fee, we will tell you about the fee orally or in writing at the
time we offer or agree to the reduction.
13.
Minimum Payment Due: The Minimum Payment Due each billing cycle will depend on your
APRs and New Balance.
(a)
If All APRs are 23.49% or Lower: You must pay the greater of:
$10; or
2% of either the New Balance or the amount of your credit limit, whichever is
less, rounded up or down to the nearest dollar plus (1) any unpaid Minimum
Payments Due from previous bills and (2) any amount of your New Balance that
exceeds your credit limit and is not already included as part of any unpaid
Minimum Payments Due from previous bills.
However, if the New Balance is less than $10, you must pay the New Balance.
(b)
If Any APR is Over 23.49%: If an APR greater than 23.49% applies at the end of any
billing cycle, you must pay $15 plus (1) any interest accrued for that billing cycle, (2) any
Cash Advance Fee, Rate Reduction Fee, Expedited Payment Fee, and Skip Payment
Fee that has been assessed during that billing cycle, (3) any unpaid Minimum Payments
Due from previous bills and (4) any amount of your New Balance that exceeds your credit
limit and is not already included as part of any unpaid Minimum Payments Due from
previous bills.
(c)
What Happens if You Pay More: You may pay more than the Minimum Payment Due at
any time. You will not owe us any additional charge for early payment. If you pay more
than the Minimum Payment Due in one billing cycle, you still have to pay the full Minimum
Payment Due in the next cycles. You cannot increase the amount of your credit limit by
paying more than the unpaid balance on your Account.
(d)
Skip Payment Offers: We may let you skip a payment. We will tell you when you can skip
a payment. If you do, (1) we may charge a fee in an amount we tell you at the time of the
offer, (2) you will owe interest for the skipped billing cycle, (3) you will lose any grace
period that otherwise would apply and (4) you must pay the regular Minimum Payment
Due for the next billing cycle.
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(e)
Payment Allocation: We will use your Minimum Payment Due to pay down balances on
your Account (including Purchases, Advances, Balance Transfers, interest, fees and
other amounts) in any way we choose, unless an applicable law says we may not. If you
make a payment that is larger than the Minimum Payment Due, we will apply the extra
amount first to the balance with the highest interest rate, and any remaining portion of
that extra amount to the other balances in descending order based on the applicable
interest rate.
14.
Making Payments: You must pay us in U.S. dollars. Mail your personal check or money order to
the address shown on your bill. Include the payment stub from your bill with your payment. Do not
send cash. If you do not follow these instructions, we might not credit the payment for up to five
business days after we get it.
(a)
Disputed Payments: If you dispute any amount we say you owe under this
Agreement, you must write to us at Compass Bank Card Center, P.O. Box 2101,
Decatur, Alabama 35602-2101. If you pay us with a check marked with "payment in
full" or similar words, you must send it to this address. Subject to any restrictions
of applicable law: (1) the words "payment in full" or similar words will have no
effect; and (2) we can take disputed payments without giving up any of our rights.
(b)
Paying at Branches, Online and By Telephone: If we let you pay at one of our branches,
we will credit the payment as of the day we get it. If we let you pay online or by phone, we
will tell you how to pay and when your payment will be credited.
(c)
Timing for Mailed Payments: If you mail a payment to the address shown on your bill,
your payment will not be considered late if we receive it by 5 p.m. Central Time on the
Payment Due Date (or the next business day if your Payment Due Date falls on a
Saturday, Sunday or holiday).
15.
Special Offers: We may make a special offer to you. For example, we may offer a reduced
promotional interest rate. Such offers may apply to all transactions or balances on your Account,
or only to some transactions or balances. We will tell you what terms of the special offer differ
from the terms of this Agreement. Except as we tell you in a special offer, the rest of this
Agreement will still apply to your Account.
16.
Checks: We may issue Checks. You may complete and sign a Check to make a Cash Advance.
You may not use a Check to pay any amount you owe us. We do not have to pay or certify any
Check.
(a)
Returning Checks: We do not have to pay (and may return unpaid) any Check if:
You are in default under this Agreement;
We suspended or terminated your credit privileges;
We told you not to use the Account, Card or Checks for any reason;
The Check is postdated or stale. This means the date you put on the check is a
date which is either (1) later than the date we get it, or (2) more than six months
before the date we get it; or
You did not fully complete and/or sign the Check.
If we pay a Check anyway, you still have to pay us the amount of that Check and any
applicable interest or fees. If we don't pay a Check, we may charge a Returned Check
Fee.
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(b)
Paid Checks: Your bill will show Checks we paid. We will not return Checks to you. You
may ask us for copies of paid Checks. We may charge you a Document Fee for each
copy.
(c)
Stopping Payment on a Check: You may ask us to stop payment on a Check or cancel a
stop payment request. Call us at 1-866-681-0484 or write us at the address in Section
1(a). If you call, we may ask you to put your request in writing. You must tell us: (1) your
Account number, (2) the date, number and amount of the Check and (3) the name of the
payee. We need at least four hours advance notice to be able to stop payment. We will
not owe anything to you or anyone else if we stop (or do not stop) a payment or cancel
(or do not cancel) a stop payment request. We may charge a Stop Payment Fee, whether
or not we actually stop payment.
17.
Currency Conversion: Visa will convert the amount of any transaction you make in a currency
other than U.S. dollars into U.S. dollars. Visa will use its own currency conversion procedures in
effect at that time. Visa will pick an exchange rate on the processing date using either (1) the
range of rates available in wholesale currency markets (which rate may differ from the rate Visa
could get) or (2) the rate required by the government. The exchange rate used may differ from the
exchange rate on the date you made the transaction. If you make a return or get a refund, the
same procedures apply. The amount of any return or refund credit to your Account may be
slightly different from the amount of the original transaction because the exchange rate changes
from day to day.
18.
Default: If you do or fail to do certain things, you will be in default under this Agreement. If you
are in default, we have certain rights and you have certain duties under this Agreement. In
deciding whether you are in default and in using any of our rights, we will follow applicable law.
(a)
Events of Default: We may decide you are in default if you:
Fail to make a payment on this Agreement or any other agreement with us when
due;
Make a payment that is not paid by your bank;
Fail to do anything this Agreement requires;
Do anything this Agreement prohibits;
File or have filed against you a bankruptcy petition;
Die, become legally incompetent or go to jail;
Give us false or incomplete credit information, false signatures or make any
material misrepresentation;
Lose your Card or Checks (including if they are stolen).
We also may decide you are in default if (1) we find you no longer qualify for any APR or
credit limit then in effect on your Account or (2) we believe in good faith that you will not
be able to pay what you owe for any other reason.
(b)
What Happens When You Are in Default: We may (1) suspend or terminate your credit
privileges, (2) close your Account and/or (3) ask you to pay the full amount you owe right
away. We will tell you first before doing these things if an applicable law requires us to.
You still have to pay all amounts you owe us.
19.
Collection Costs: We may charge you for costs we have to pay to collect what you owe after
default. These costs may include reasonable fees to attorneys who are not our paid employees.
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We will not charge you for our collection costs if you owe us $300 or less or an applicable law
says we may not.
20.
Closing Your Account:
(a)
We May Limit Use Of or Close Your Account: We may (1) temporarily take away your
ability to make transactions or otherwise use your Account, (2) delay reissuing your Card,
or (3) close your Account. We may do these things at any time, but will tell you first if an
applicable law requires us to. You must destroy all Cards and unused Checks if we tell
you to. You still have to pay all amounts you owe us. If you are not in default when your
Account is closed, you may pay off the balance under the terms of this Agreement that
apply at that time. We can use all the rights and remedies we have under this Agreement
until all amounts are repaid. We will not owe anything to you or anyone else if we do any
of these things.
(b)
You May Close Your Account: You may close your Account at any time by telling us in
writing. You must destroy all Cards and unused Checks if we tell you to. You still have to
pay all amounts you owe us. If you are not in default when you close your Account, you
may pay off any balance under the terms of this Agreement that apply at that time.
21.
Information About You and Your Credit: You promise that the information you gave us to open
your Account is true. You also promise to tell us right away and to stop using the Account if (1)
you plan to file for bankruptcy, or (2) are otherwise unable to pay your debts. We may look again
at your financial condition and credit standing at any time and for any reason. We may get a
current credit report or ask you for current financial information or documents. For example, we
may ask about your property and debts. We also may ask for copies of your tax returns or
verification of your employment and income. You agree to let us do this and help with any
investigation of your credit record. A negative credit report reflecting on your credit record may be
submitted to one or more credit reporting agencies if you fail to fulfill your obligations under this
Agreement.
22.
Inaccurate Information: Write to us at the address in Section 1(a) if you believe that (1) we have
information about you that is inaccurate or (2) we have reported or may report inaccurate
information about you to a credit reporting agency. Tell us exactly what information you believe is
inaccurate.
23.
Liability For Unauthorized Use: If you notice the loss or theft of your Card or a possible
unauthorized use of your Card, you should write to us immediately at Compass Bank Card
Center, P.O. Box 2210, Decatur, Alabama 35699-0001, or call us at 1-866-681-0484. You will not
be liable for any unauthorized use that occurs after you notify us. You may, however, be liable for
unauthorized use that occurs before your notice to us. In any case, your liability will not exceed
$50.
24.
Telephone Monitoring; Consent to Communication: To make sure our employees give
accurate and courteous customer service, sometimes your call may be monitored by a second
employee and/or recorded. You agree to this monitoring and recording. We may contact you
using (1) any information or phone numbers (including cell phone numbers) you provide to us on
your Application or otherwise, and (2) an automated telephone dialing system and/or artificial or
prerecorded voice message, even if you are charged for the call under your phone plan.
25.
We Do Not Give Up Our Rights by Not Using Them: Sometimes we might decide not to do
something we could do under this Agreement, like charging you a fee. Or, we might decide to do
something less than what we could do, like charging you a lower fee or wait a few days before
charging a fee. If we do this one or more times, this does not mean we have to do it again. We
can do all the things this Agreement allows in the future, even if we did something different one or
more times in the past. We also might decide, for example, to:
Accept late or partial payments;
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Give you more time to make a Minimum Payment Due;
Reduce or not charge any interest or fee you would otherwise owe;
Let one or more of you out of your promises under this Agreement without telling the
others or letting them out of their promises.
If we do any of these things, we will not lose any of our rights under this Agreement.
26.
Authorizing Transactions; Acceptance of Your Card: A merchant does not have to accept
your Card, Checks or Account. We will not owe anything to you or anyone else if (1) we decline to
authorize or make payment on any Requested Transaction, even if it would not cause the
outstanding balance on your Account to exceed any credit limit described in Section 8 above, or
(2) a merchant will not accept your Card, Checks or Account. Also, we will not owe anything to
you or anyone else for goods or services you bought or leased using your Account.
27.
Assignment; Binding Effect; Severability: We may sell or give your Account, this Agreement
and our rights or duties under this Agreement to any other person or company. We can do this at
any time without telling you first or getting your permission. You may not sell or give your Account
or any of your rights or duties under this Agreement to any other person or company. This
Agreement will be binding on your heirs and legal representatives. This means they may have to
pay if you die or become legally incompetent. If a court with proper authority finds any part of this
Agreement is not valid or cannot be enforced, the other parts still will apply.
28.
Dispute Resolution:
(a)
This subsection (a) applies if you reside outside California.
Arbitration: Either you or we may ask to settle disputes by arbitration. Arbitration is a way of
working out disputes without going to court. If you or we ask for arbitration, we would all meet with
a person called an arbitrator. An arbitrator is like a referee or a judge. The arbitrator will listen to
what you and we have to say. The arbitrator will decide who is right. The arbitrator's decision
is
called an award. The party who wins the award can take it to any court that could have heard the
dispute and get an official judgment. Please read the rest of this section carefully. It explains
how arbitration works.
Some Legal Rights May Not Be Available in Arbitration: After any party asks for arbitration
of a dispute, neither you nor we can ask a court to hear that dispute. There will be no jury
trial of that dispute. You cannot be part of any class action relating to that dispute. The
right to get information from each other and other procedures may be more limited in
arbitration than in court. With a few limited exceptions, the arbitrator's award will be final
and unchangeable. Other rights that you or we would have in a court also may not be
available in arbitration.
What Disputes Are Covered: Any dispute that arises from or relates to this Agreement,
your Account and any transaction involving the Account will be settled by arbitration
unless it is described below in "What Disputes Are Not Covered." This means that
disputes about the following are covered:
This Agreement, your Account or any transaction involving the Account;
Any advertisement, promotion or oral or written statement related to this
Agreement or your Account;
Any relationships that result from this Agreement (including, as far as applicable
law will allow, relationships with third parties who are not parties to this
Agreement or this arbitration provision);
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The validity, interpretation, scope or enforceability of this Agreement (except for
any challenge to the enforceability of this Dispute Resolution section or any
dispute about the parts of this subsection (a) about class disputes); and
Whether it is too late to settle a dispute because of any statute of limitations,
estoppel, waiver, laches or similar legal rule.
It doesn't matter whether the dispute is based on contract, fraud, tort, intentional tort,
statute, regulation, constitution, common law, equity or otherwise. It also doesn't matter
when the dispute began (whether before this Agreement, now or in the future). This
arbitration provision will continue to apply after this Agreement ends and/or after you or
we close the Account.
What Disputes Are Not Covered: This arbitration provision does not cover any dispute:
That you or we could take to a small claims court, which usually limits its cases
based on the amount of the claim; or
About the parts of this arbitration provision that prohibit class disputes.
No Class Disputes: You cannot join together in a dispute with anyone other than people
who use your Account. Even if other people have disputes similar to a dispute that you or
we ask to arbitrate, those people and their disputes cannot be part of any arbitration
between you and us. You cannot arbitrate any dispute on a class action, private attorney
general or other representative basis. Only a court, and not an arbitrator, may decide
whether this provision prohibiting class disputes can be enforced.
Who Will Arbitrate: The American Arbitration Association ("AAA") or JAMS ADR ("JAMS")
may arbitrate any dispute, or you and we may agree upon a different arbitrator. For more
information about arbitration, contact the AAA (www.adr.org or 1-800-778-7879) or JAMS
(www.jamsadr.com or 1-800-352-5267). If for any reason the AAA or JAMS is unable or
unwilling to arbitrate, or you and we cannot agree on an arbitrator, we will use another
national or regional arbitration group. The number of arbitrators will depend on the total
dollar amount of all disputes by both you and us. If the total is $250,000 or less, one
arbitrator will hear the dispute(s). If the total is over $250,000, three arbitrators will hear
the dispute(s). Each arbitrator must be an active member in good standing of the bar for
any state in the continental United States, and either: (a) actively engaged in the practice
of law for at least 5 years or (b) a retired judge.
What Rules Apply: The arbitration of any dispute will be conducted according to the rules
of the arbitrator ("Rules"). If an arbitrator other than the AAA is chosen, the Rules of the
AAA will be applied to any circumstance that is not addressed by the Rules of the chosen
arbitrator. If the total of all disputes is $250,000 or less, we will use any expedited
procedures in the Rules. If this Agreement and the Rules say something different, we will
follow this Agreement and not the Rules.
How To Start Arbitration: Either you or we may start an arbitration by giving written notice
to the other party. At a minimum, this notice must describe the subject of the dispute and
the result requested in arbitration by the party giving the notice. If you ask us to arbitrate,
you can choose the AAA or JAMS, or suggest another national or regional arbitration
group to arbitrate the dispute. If we ask you to arbitrate, we will give you 10 days to
choose the AAA or JAMS, or to suggest another national or regional arbitration group. In
either case, if you suggest an alternative to the AAA and JAMS, we will work with you to
determine if you and we can agree on a different group or arbitrator. If you and we are
unable to agree, the arbitration will be conducted by the AAA or, if the AAA is not
available, by a similar arbitration group. The party asking for arbitration must file a notice
with the arbitration group following the Rules in effect at that time.
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When a Party May Ask for Arbitration: You or we may ask for arbitration before or after a
lawsuit has been filed. You or we must ask for arbitration within the statute of limitations
that would apply to the same dispute in court. If it is too late to resolve the dispute in
court, it is also too late to resolve it in arbitration.
What the Arbitrator(s) Must and May Not Do: Each arbitrator must:
Limit discovery to information that is directly relevant to the dispute and is not
considered confidential or otherwise protected from being made public.
Discovery is the process by which you and we ask each other for information
about the dispute;
Make decisions and awards based on the evidence and applicable substantive
law and the rules of evidence used in federal courts;
Make decisions and awards only with respect to claims made by or against you
individually;
Give a brief written explanation of the basis for the award upon request of either
party; and
Make specific findings of fact and conclusions of law to support any award
greater than $25,000.
Not make any award that would require you and us to continue any relationship
we may have under this Agreement or otherwise.
Who Pays for Arbitration: There will be costs for arbitration. Contact the AAA or other
arbitration group to find out what the arbitration charges will be. You may have to pay
some of the arbitration charges unless this Agreement, an applicable law or the Rules
say we must pay. If the total dollar amount of all disputes is $50,000 or less, we will pay
that portion of the arbitration filing fee that is more than the cost of filing a lawsuit in the
federal court where you live. You can ask us to pay some or all of the other arbitration
charges you have to pay, but we don't promise to do as you ask. At the end of the
arbitration, the arbitrator(s) will decide who has to pay for any arbitration charges that are
greater than those we agreed to pay. The arbitrator(s) also may order us to pay some or
all of your attorneys, expert and witness fees. Unless ordered otherwise by the
arbitrator(s), each of us must pay for its own attorneys, expert and witness fees, no
matter who wins.
Where Will Arbitration Take Place: Any arbitration will take place in the federal judicial
district near your home. Or, you and we could agree that arbitration will take place
somewhere else.
What Law Applies: This arbitration provision is made pursuant to a transaction involving
interstate commerce. The Federal Arbitration Act will apply to the construction,
interpretation and enforceability of this arbitration provision despite any other choice of
law provision in this Agreement.
Other Rights and Remedies: Nothing in this arbitration provision will limit certain other
rights you or we may have. This means that you or we could, for example:
Get an injunction, which is a court order to stop someone from doing something;
or
File an interpleader action, which is a type of lawsuit used to decide who owns
property that more than one person claims to own.
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If you or we do any of these things or take part in any other court case, it does not affect
your or our rights under this arbitration provision.
What Happens If Part or All of This Arbitration Provision Cannot Be Enforced: Only a
court and not an arbitrator can determine if any part of this arbitration provision cannot be
enforced. If a court with proper jurisdiction says that any part of the "No Class Disputes"
subsection above (which prohibits arbitration of class disputes) cannot be enforced, then
none of the arbitration section in this Agreement will apply, and this section will be
considered deleted from the Agreement. If a court with proper jurisdiction says that any
other part of this arbitration provision cannot be enforced, then the rest of this arbitration
subsection still will apply, including the "No Class Disputes" subsection above.
Waiver Of Jury Trial: This provision limits your rights to a jury trial. You should review
this section carefully. If you and we have any dispute related to this Agreement, your
Account, or any transactions involving your Account and (i) neither you nor we seek to
compel arbitration of the dispute, or (ii) some or all of the arbitration section is
unenforceable and the dispute will be resolved in court, then you and we agree voluntarily
and knowingly to waive any right each may have to a jury trial to the fullest extent
permitted by law.
Attorneys' Fees. In any action between you and us in court, the prevailing party will be entitled
to receive from the other party an amount equal to the reasonable attorneys' fees the prevailing
party incurred in bringing or defending the court action.
(b)
This subsection (b) applies if you reside in California.
Judicial Reference: Either you or we may ask to settle disputes by judicial reference under the
provisions of the California Civil Code, Sections 638-645.1, unless the dispute is part of a class
action. This judicial reference provision limits your ability to ask a court to hear a dispute
and your right to a jury trial. By agreeing to judicial reference, you and we waive, and shall
not have, any right to a jury trial. You should review this section carefully. It explains how
judicial reference works.
Some Legal Rights May Not Be Available in Judicial Reference: Judicial reference is a
proceeding where disputes are decided by a judicial referee. The judicial referee will receive
evidence at a hearing and then issue a statement of decision upon which a judgment is based.
You and we agree that the referee will have the power to decide all issues of fact and law, to
issue a statement of decision, and to provide all legal and equitable relief appropriate based on
the evidence provided at the hearing.
What Disputes Are Covered: Any dispute that arises from or relates to this Agreement,
your Account and any transaction involving the Account will be settled by judicial
reference unless it is described below in "What Disputes Are Not Covered." This means
that disputes about the following are covered:
This Agreement, your Account or any transaction involving the Account;
Any advertisement, promotion or oral or written statement related to this
Agreement or your Account;
Any relationships that result from this Agreement (including, as far as applicable
law will allow, relationships with third parties who are not parties to this
Agreement or this judicial reference provision);
The validity, interpretation, scope or enforceability of this Agreement (except for
any challenge to the enforceability of this Dispute Resolution section or any
dispute about the parts of this subsection (b) about class disputes); and
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Whether it is too late to settle a dispute because of any statute of limitations,
estoppel, waiver, laches or similar legal rule.
It doesn't matter whether the dispute is based on contract, fraud, tort, intentional tort,
statute, regulation, constitution, common law, equity or otherwise. It also doesn't matter
when the dispute began (whether before this Agreement, now or in the future). This
judicial reference provision will continue to apply after this Agreement ends and/or after
you or we close the Account.
What Disputes Are Not Covered: This judicial reference provision does not cover any
dispute:
That you or we could take to a small claims court, which usually limits its cases
based on the amount of the claim; or
About the parts of this judicial reference provision that prohibit class disputes.
No Class Disputes: A claim by, or on behalf of, other persons will not be considered in,
joined with, or consolidated with, the judicial reference proceedings between you and us.
Any such claim will be resolved in a court of proper jurisdiction.
Who Will Serve as Referee: You and we agree that a single referee who is a retired
California state or federal court judge shall be appointed by the court under California
Code of Civil Procedure 640 and shall preside over the reference proceeding and decide
all issues of fact and law. If you and we are unable to agree upon a referee within 10
days of a written request for judicial reference by any party, then any party may ask a
court to appoint a referee under the California Code of Civil Procedure, Sections 638 and
640, and may nominate up to three retired state or federal court judges to serve as this
referee.
How To Start a Judicial Reference Proceeding: Either you or we may start a judicial
reference proceeding by giving written notice to the other party. At a minimum, this notice
must describe the subject of the dispute and the result requested in the judicial reference
proceeding by the party giving the notice.
When a Party May Ask for Judicial Reference: You or we may ask for judicial reference
before or after a lawsuit has been filed. You or we must ask for judicial reference within
the statute of limitations that would apply to the same dispute in court. If it is too late to
resolve the dispute in court, it is also too late to resolve it in judicial reference.
What the Referee Must and May Not Do: The referee must:
Make decisions and awards based on the evidence and applicable substantive
law and the rules of evidence used in federal courts;
Make decisions and awards only with respect to claims made by or against you
individually;
Provide a statement of decision indicating how each dispute was decided, along
with a concise written explanation of the basis for the award. The referee's
statement of decision must contain written findings of fact and conclusions of law.
The court shall enter judgment thereon under California Code of Civil Procedure
Sections 644(a) and 645. After this judgment is entered, the decision of the
referee shall then be appealable as if made by the court.
Not make any award that would require you and us to continue any relationship
we may have under this Agreement or otherwise.
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Other Rights and Remedies: Nothing in this judicial reference provision will limit certain
other rights you or we may have. This means that you or we could, for example:
Get an injunction, which is a court order to stop someone from doing something;
or
File an interpleader action, which is a type of lawsuit used to decide who owns
property that more than one person claims to own.
If you or we do any of these things or take part in any other court case, it does not affect
your or our rights under this judicial reference provision.
What Happens If Part or All of This Judicial Reference Provision Cannot Be Enforced: If
any portion of this judicial reference provision is not enforced other than the "No Class
Disputes" section, the remaining portions of it will remain enforceable. This judicial
reference provision shall survive termination of this Agreement and the closing of your
Account.
Attorneys' Fees. In any action between you and us, regardless of whether the action is in court
or in judicial reference, each party must pay its own attorney, expert, and witness fees, regardless
of how the dispute is resolved.
California Residents: You understand and agree that interest is compounded under the terms of this
Agreement.
Maryland Residents: You have the right under Maryland Commercial Law Code Section 12-510 to
receive an answer to a written inquiry concerning the status of your Account. Finance charges will be
imposed on the outstanding balances from month to month in amounts or at rates not in excess of those
permitted by law.
New Jersey Residents: Because certain provisions of this Agreement are subject to applicable law, they
may be void, unenforceable or inapplicable in some jurisdictions. None of these provisions, however, is
void, unenforceable or inapplicable in New Jersey.
NOTICE TO THE BUYER - DO NOT SIGN THIS CREDIT AGREEMENT BEFORE YOU READ IT OR IF
IT CONTAINS BLANK SPACES. YOU ARE ENTITLED TO A COPY OF THIS AGREEMENT. KEEP IT
TO PROTECT YOUR LEGAL RIGHTS.
Signatures:
You: Any handwritten, electronic or digital signature provided by you or any person whom you allow to
use the Account on any document in connection with opening or using your Account serves as your
signature on this Agreement.
Bank: We have signed this Agreement as follows:
/s/ A. Smith
A. Smith
Vice President
Compass Bank
Your Billing Rights: Keep This Document For Future Use
This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.
What to Do If You Find a Mistake on Your Statement
If you think there is an error on your statement, write to us at the payment address shown on your bill.
In your letter, give us the following information:
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Account information: Your name and account number.
Dollar amount: The dollar amount of the suspected error.
Description of problem: If you think there is an error on your bill, describe what you believe is wrong
and why you believe it is a mistake.
You must contact us:
Within 60 days after the error appeared on your statement.
At least 3 business days before an automated payment is scheduled, if you want to stop payment on
the amount you think is wrong.
You must notify us of any potential errors in writing. You may call us, but if you do we are not required to
investigate any potential errors and you may have to pay the amount in question.
What Will Happen After We Receive Your Letter
When we receive your letter, we must do two things:
1.
Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell
you if we have already corrected the error.
2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we
believe the bill is correct.
While we investigate whether or not there has been an error:
We cannot try to collect any amount in question, or report you as delinquent on that amount.
The charge in question may remain on your statement, and we may continue to charge you interest
on that amount.
While you do not have to pay the amount in question, you are responsible for the remainder of your
balance.
We can apply any unpaid amount against the amount available to you on your credit line.
After we finish our investigation, one of two things will happen:
If we made a mistake: You will not have to pay the amount in question or any interest or other fees
related to that amount.
If we do not believe there was a mistake: You will have to pay the amount in question, along with
applicable interest and fees. We will send you a statement of the amount that you owe and the date
payment is due. We may then report you as delinquent if you do not pay the amount we think you
owe.
If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling
us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that
you are questioning your bill. We must tell you the name of anyone to whom we reported you as
delinquent, and we must let those organizations know when the matter has been settled between us.
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If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question,
even if your bill is correct.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
If you are dissatisfied with the goods or services that you have purchased with your 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 purchase.
To use this right, all of the following must be true:
1. The purchase must have made in your home state or within 100 miles of your current mailing
address, and the purchase price must have been more than $50. (Note: Neither of these are
necessary if your purchase was based on an advertisement we mailed to you, or if we own the
company that sold you the goods or services.)
2.
You must have used your credit card for the purchase. Purchases made with cash advances from an
ATM or with a check that accesses your credit card account do not qualify.
3. You must not yet have fully paid for the purchase.
If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at
the payment address shown on your bill.
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish
our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not
pay, we may report you as delinquent.
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BBVA Compass Select Credit Card Account
Pricing Information as of September 30, 2013
This pricing information is accurate as of the date listed above, but may have changed after that date.
You can always find out the most current pricing information by contacting us at: BBVA Compass, P.O.
Box 2210, Decatur, AL 35699 or 1-866-681-0484.
Interest Rates and Interest Charges
Annual Percentage Rate (APR)
Prime + 9.99% to 13.99%, based on creditworthiness
for Purchases
This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers
Prime + 9.99% to 13.99%, based on creditworthiness
This APR will vary with the market based on the Prime Rate.
APR for Cash Advances
Prime + 18.99%
This APR will vary with the market based on the Prime Rate.
Paying Interest
Your due date is at least 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. We will begin charging interest on cash advances and balance
transfers on the transaction date.
Minimum Interest Charge
If
you are charged interest on purchases, the charge will be no less than $1.
For Credit Card Tips
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
from the Consumer
http://www.consumerfinance.gov/learnmore.
Financial Protection
Bureau
Fees
Annual Fee
$0 for the first year your account is open, then $125 each year thereafter.
Transaction Fees
Cash Advance
Either $10 or 4% of the amount of each cash advance, whichever is greater
Balance Transfer
Either $10 or 4% of the amount of each transfer, whichever is greater
Foreign Transaction
None
Penalty Fees
Late Payment
Up to $35
Returned Payment
Up to $25
How We Will Calculate Your Balance: We use a method called "average daily balance (including new
purchases)." See your account agreement for more details.
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*
For each billing cycle, we use the Prime Rate from The Wall Street Journal two business days before
the Statement Date for that billing cycle. Your APRs may increase if the Prime Rate increases. If your
APRs increase, the amount of interest you will owe and the Minimum Payment Due may increase.
BBVA Compass is a trade name of Compass Bank, a member of the BBVA Group.
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