Credit Card Application Disclosures for Popular Bank Rewards Mastercard issued by Banco Popular de Puerto 
Rico 
Interest Rates and Interest Charges 

Annual Percentage Rate (APR) 
for Purchases 

0% introductory APR for the first 12 months.  
After that, your APR will be from 13.24% to 26.24%, based on your 
creditworthiness.  

This APR will vary with the market based on the Prime Rate. 1 

APR for Balance Transfers 

0% introductory APR and 0 payment for the first 12 months. Applies to transfers 
made within the first 90 days from account opening. 

APR for Cash Advances 

Penalty APR and When it 
Applies 

Paying Interest 

APR will be from 13.24% to 26.24%, based on your creditworthiness. This APR will 
vary with the market based on the Prime Rate. 1 
24.24% to 28.24%, based on your creditworthiness. 

This APR will vary with the market based on the Prime Rate. 1 
29.99% 
This APR may be applied to your account if you miss a required Minimum 
Payment for a period of sixty (60) consecutive days from its Payment Due Date. 

How Long Will the Penalty APR Apply? If your APR is increased for this 
reason, the Penalty Rate will remain in effect until the account becomes current and 
six (6) consecutive required Minimum Payments are received on or before the 
Payment Due Date. 

Your payment due date is at least 25 days after the close of each billing cycle.  You 
will not be charged interest from the time you purchased goods or services, if you 
pay your full account balance by the Payment Due Date. In the event you don’t pay 
the full account balance, while in Grace Period, you will not pay interest on the 
amount paid for that cycle.  On subsequent cycles you will not have grace period 
until you pay your full account balance on time for two cycles in a row. Amounts 
related to certain offers will not be taken into consideration in determining the Grace 
Period, please refer to the offer terms and conditions. There is no grace period for 
Balance Transfers, Convenience Checks or Cash Advances and begin to accrue 
interest on the date they are posted and remain subject to Interest Charges until 
paid in full.  

For Credit Card Tips from the  
Consumer Financial Protection 
Bureau 

To learn more about factors to consider when applying for or using a credit card, 
visit the website of the Consumer Financial Protection Bureau at 
http://www.consumerfinance.gov/learnmore 

Fees 

Annual Fee 

Transaction Fees 

   •  Cash Advances and  
       Convenience Checks 
   •  Balance Transfers 

$25 Annual Fee 
$0 Additional Card Fee (if applicable) 

2% of the amount of each transaction (minimum $2; maximum $10) 

2% of the amount of each transfer (minimum $2; maximum $10) 

   •  Foreign Transaction 

1.4% of each transaction in U.S. dollars for MasterCard  

Penalty Fees 
   •  Returned Payment 

   •  Late Payment 

Up to $10 

Up to $38 

How We Will Calculate Your Balance:  We use a method called "average daily balance (including new transactions)”. 
Please refer to your Agreement for more details. 
Loss of Introductory APR:  We may end your introductory APR and apply the corresponding transaction APR if you 
close your account or if you miss a payment. 
Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your 
Credit Card Agreement.  

 
 
 
 
  
 
 
 
 
 
 
 
 
 
The information on card costs described is correct as February 29, 2020. 
This information may have varied after this date. To verify what may have changed in this information  
call 1-888-333-8930 or write to the following address: 

Popular Credit Services  
PO Box 363228 
San Juan, Puerto Rico 00936-3228 

IMPORTANT NOTICE USA PATRIOT ACT  

Section 326 of the USA PATRIOT Act was effective on October 1, 2003. This law requires financial institutions to obtain, 
verify, and record the information that identifies persons opening accounts. The USA government created this law as a 
measure to fight terrorism and money laundering. 

When you open an account: 

•  We will ask your name, home or street address, date of birth, social security number, and any other information 

deemed necessary to allow us to positively identify you. 

•  We will ask to see your valid driver's license or other valid identification with photo issued by the government. 

Thanks for allowing us to serve you. Confidentiality of the information gathered by Popular, Inc. will be maintained as 
required under the Privacy Act. 

1 For each billing period, the Interest Charge and APR will be determined by adding the Prime Rate, as published by The 
Wall Street Journal, to a margin. The variable rates illustrated are based on a Prime Rate of 3.25% in effect March 16, 
2020. 

APPLICATION TERMS 

The words “you” and “your” apply to each person who submits the application. You represent that you (1) have read the 
accompanying  application,  and  you  affirm  that  everything  you  have  stated  is  true  and  complete.  (2)  that  you  are  a 
permanent resident of the United States and that you comply with the state minimum age requirement to enter into an 
agreement. You understand that you will not be able to make any changes to the terms of this application or to the Credit 
Card Agreement.  

By submitting this application, you authorize Banco Popular de Puerto Rico (hereinafter “us” or “our”) to (1) obtain  your 
credit report(s), employment history and any other information in order to approve or decline this application, service your 
account, and manage our relationship with you; (2) share information about you and your account with the organization, if 
any, endorsing this credit card program; (3) share with others, to the extent permitted by law, such information and our 
credit experience with you; (4) directly or through any of our affiliates, or our marketing associates, monitor and/or record 
any of your phone conversations with us or any of our representatives and (5) contact you at any number you have provided 
to us, from which you call us, or which we obtain and believe we can reach you at, by calling or texting you including 
through an automated dialer or pre-recorded messages. We may call or email you on a mobile, wireless, or similar device, 
even if you are charged for it by your provider. 

If we approve your application for an Account, you agree to (1) be subject to the terms of this application and the Credit 
Card Agreement, as it may be amended; (2) pay and/or to be held jointly and severally liable for all charges incurred under 
such terms.    

Additional Disclosures for Residents of Specific States: 

California Residents: As required by law, you are hereby notified that a negative credit report reflecting on your 
credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. 

Credit application for the obtainment of money, goods, labor or services shall clearly specify that the applicant, if 
married, may apply for a separate account.  

Delaware Residents: Service charges not in excess of those permitted by law will be charged on the outstanding 
balances from month to month.   

New York Residents: New York residents may  contact  the  New  York  State  Department  of  Financial Services  
by  telephone (1-800-342-3736)  or  visit  its  website (www.dfs.ny.gov) for free information on comparative credit 
card rates, fees  and  grace  periods.  

 
 
 
 
 
 
  
  
 
 
 
 
 
 
 
Consumer reports may be requested in connection with your application and any resulting account and, upon 
request, you will be informed whether or not a consumer report was requested, and if such report was requested, 
informed of the name and address of the consumer reporting agency that furnished the report.  

Oregon Residents: A service charge will be computed on the outstanding balance for each month (which need 
not be calendar month) or other regular period agreed upon, the schedule or rate by which the service charge will 
be computed, and that the buyer may at any time pay the total unpaid balance.  

Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to 
all credit worthy customers, and that credit reporting agencies maintain separate credit histories on each individual 
upon request. The Ohio Civil Rights Commission administers compliance with this law.  

Rhode  Island Residents: A  consumer credit  report may  be  ordered  in  connection  with  the  processing of an 
application, or subsequently for purposes of review or collection of the account, increasing the credit line on the 
account, or other legitimate purposes associated with the account.  

Utah Residents: As required by Utah law, you are hereby notified that a negative credit report reflecting on your 
credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.  

Vermont Residents: We may obtain credit reports or other information about you in connection with evaluating your loan 
application.    We  may also obtain  additional credit  reports or other information  about  you  in  connection  with  the  same 
transaction or extension of credit, for the purpose of reviewing your account, increasing the credit line on your account, for 
the purpose of taking collection action on your account, or for other legitimate purposes associated with your account.  

Wisconsin Residents: No provision of a marital property agreement, a unilateral statement under Section 766.59 of the 
Wisconsin Statutes, or a court decree under Section 766.70 of the Wisconsin Statutes, adversely affects the interest of the 
creditor unless the creditor, prior to the time the credit is granted, is furnished a copy of the agreement, statement or decree 
or has actual knowledge of the adverse provision when the obligation to the creditor is incurred.  We may give notice of 
the opening of any credit account to your spouse and married Wisconsin residents must provide their spouse’s name and 
address  to  us  at:  Popular  Credit  Services  PO  Box  363228  San  Juan,  Puerto  Rico  00936-3228.  If  you  are  a  married 
Wisconsin resident, credit extended under this account will be incurred in the interest of your marriage or family.