CARDHOLDER AGREEMENT 
RETAIL INSTALMENT CREDIT AGREEMENT 
1. YOUR  BMW  VISA® CARD  AGREEMENT:  This  is  the  Cardholder  Agreement  (the  “Agreement”)  that  establishes  the terms of your 
Cardholder Account (“Account”)  with BMW  Bank  of  North  America,  P.O.  Box  9210,  Old  Bethpage,  NY  11804.  Please  read  it  carefully and 
keep it for your records. The application or pre-approved acceptance you signed or otherwise submitted (including the accompanying federal 
and state notices), your Card, the Card Carrier we send with your Card, the Summary of Terms we provide on or with your Card Carrier and 
your signature (including any digital or electronic signature) on the application or pre- approved acceptance, your Card, and any sales slip or 
other  evidence  of  indebtedness are  part  of  and  are  incorporated  into  this  Agreement.  Any  use  of  your  Card  or  Account  constitutes your 
acceptance of the terms and conditions of this Agreement. This Agreement begins on the earlier of (a) the date you sign or otherwise submit 
an application or pre-approved acceptance that is approved by us or (b) the first date that you or someone authorized by you uses the Account 
in a transaction that we approve (in NY, the first date that you or someone authorized by you signs a sales slip or memorandum or the first 
date that another document is issued to you or someone authorized by you as evidence of a transaction on your Account that we approve). 

2. CERTAIN DEFINITIONS: In this Agreement, the words “you” and “your” refer to each person (jointly and severally if more than one) who
has applied for the Account and any other person who has agreed to be responsible for the Account. The words “we”, “us” and “our” refer to 
BMW Bank of North America, its agents, successors or assigns. “Card” refers to each Visa Card that is issued by us for your Account. The 
term “Check” refers to a convenience check, a written Credit Device that we may issue to you. The term “Credit Device” refers to a Check, 
payee-designated check, draft, order, or other instrument or transaction that accesses the Account, other than a Card. Any Card or Credit 
Device must be destroyed or returned to us immediately upon our request.

3.  USING  YOUR  ACCOUNT:  You  may  use  your  Card  or  Account  to  purchase  or  lease  goods  or  services  or  pay  amounts  you  owe
(collectively, “Purchases”) wherever the Card is honored. From time to time we may offer you the opportunity to use your Account or a Credit 
Device to pay amounts you owe under accounts with other creditors (“Balance Transfers”). You may also use your Card or a Check to obtain 
cash loans (“Cash Advances”) from any financial institution that accepts the Card.

You may obtain a Cash Advance by writing a Check. Checks will not be subject to any stop payment order and will not be returned to you. 
Each Check may be used only by the person(s) whose name(s) is/are printed on it. Each Check must be completed and signed by you (or 
either of you) in the same manner as a regular personal check. You may not use any Check we issue to you to pay any amount you owe under 
your  Cardholder  Agreement  or  under  any  other credit  agreement  or  account  you may  have  with  us. In  addition  to  Check  transactions, the 
following transactions will be treated as Cash Advances:

- obtaining cash from participating Automated Teller Machines (“ATM”);
- obtaining cash from participating financial institutions nationwide that have agreed with Visa to allow you to use your Card to obtain cash;
- obtaining money orders, wire transfers, casino or gaming chips, travelers’ checks, foreign currency, vouchers redeemable for cash or
similar items.

You may not use your Card or Account for any gambling or for any illegal purpose. 

You may not use your Card or Account to make purchases of cryptocurrency or digital currency from or through vendors identified as digital 
currency marketplaces, exchanges, or brokers.

4. OBLIGATIONS ON YOUR ACCOUNT: You authorize us to pay and charge your Account for all Purchases, Balance Transfers and Cash
Advances made or obtained by you or anyone you authorize or by anyone who has apparent authority to use your Card or Account. You promise
to pay us for all of these Purchases, Balance Transfers and Cash advances, plus any interest assessed on your Account and any other charges
and fees you may owe under the terms of this Agreement. You will be obligated to pay authorized charges to your Account whether resulting
from  (a)  actual  use  of  your  Card  or  a  Credit  Device,  (b)  mail  order  or  telephone,  internet  or  other  electronic  Purchases  made  without
presenting the Card or (c) any other circumstance where you authorize a charge, or authorize someone else to make a charge, to your Account.

5. JOINT ACCOUNTS: If this is a joint Account, each of you has the right to use the Account as provided for in this Agreement and is individually
responsible to pay the entire  balance  due.  Either  of  you  may  give  us  notices  required  or  make  requests  permitted  under  this Agreement. If
each of you gives us notices or makes requests, and those notices or requests are conflicting, we may honor or refuse to honor either request at
our option. We can do so without notice to any person(s). We will not be liable for honoring or refusing to honor any conflicting request. We may
require that you pay the full amount owed without our first asking the other person(s) to pay.

6. CREDIT LIMIT: Your maximum amount of credit we will extend to you (“Credit Limit”) is initially shown on the Card Carrier containing your
Card. We may designate that only a portion of your Credit Limit is available for Cash Advances (“Cash Advance Credit Limit”) and you agree
not to exceed that limit. Therefore, since we may change any applicable Credit Limit from time to time, your latest Credit Limit(s) will appear on 
your Monthly Statement. You agree not to make a Purchase or obtain a Balance Transfer or a Cash Advance that would cause the unpaid
balance  of  your  Account  (including  interest,  fees  and  other charges) to exceed any applicable Credit Limit.  We  may  honor  Purchases,
Balance  Transfers and Cash Advances in excess of any applicable Credit Limit at our sole discretion. If we do, this Agreement also applies to
that  excess and you  agree  to  pay  that  excess  immediately  upon  request.  The  fact  that  we  may  at  any  time  honor  a  Purchase,  Balance
Transfer or Cash Advance in excess of the applicable Credit Limit does not obligate us to do so again.
Subject to any restrictions under applicable law, you agree  that  we  may  change  or  cancel  any  applicable  Credit  Limit  at  any  time  without 
affecting  your  obligation  to  pay  all  amounts owed under this Agreement. For security reasons,  we  may  limit  the  number  or  dollar  amount  of 
transactions that may be accomplished with your Card, Account or any Credit Device, and we have the right to limit authorizations to complete 
such transactions if we consider it necessary to verify payments received. 

7. MONTHLY STATEMENTS: We will send a statement at the end of each monthly billing cycle (“Monthly Statement”) in which your
Account
has  a  debit  or credit  balance of more than $1 or if interest has been imposed,  or  as  required  by  applicable  law.  Among  other  things,  your
Monthly Statement  will  show  your  New  Balance,  any interest, any Credit Limit(s) and credit available, the minimum  amount  you must  pay
(“Minimum Payment Due”) and the date when payment is due (“Payment Due Date”).
Minimum Monthly Payment: If the New Balance shown on your monthly statement is less than $20, your Minimum Monthly Payment due by the 

Payment Due Date) is your New Balance. Otherwise, the Minimum Monthly Payment for each billing cycle will be the greater of $20 or the total of 
(1) 1% of the New Balance, plus (2) any Interest Charge, plus (3) any Overlimit Fee, plus (4) any Late Fee, plus (5) any mount past due, plus (6)
if we so elect, any amount over your Credit Limit, including any Cash Advance exceeding your Cash Advance Credit Limit, at the time of billing. You
may pay more than the Minimum  Payment Due and may at any time pay the full amount you owe us without incurring any additional
charge.

8. PAYMENT ON ACCOUNT: Except as otherwise provided in this Agreement or any promotional offer, you must pay at least the Minimum
Payment Due each billing cycle that there is a balance on your Account. All payments must be made in U.S. dollars. Any payment made by check or
other negotiable instrument must be drawn on a U.S. bank or a U.S. branch of a foreign bank.

If we receive a payment on your Account at the address shown on your Monthly Statement before 5:00 p.m. ET on any Processing Day or if you 
make a payment by telephone or internet your payment will be considered made on the date received. The term “Processing Day” refers to any 
Sunday through Friday, excluding federal and state banking holidays on which we are not open for business. Your payment will not be considered 
received  by  us  if  the payment is later dishonored. Payments made by mail  received at a location other than the payment address  shown on the 
Monthly Statement may be delayed by up to five Processing Days.  

Payments posted to your Account may not immediately result in additional available credit. Subject to any restrictions of applicable law, we will 
apply your payments  to the balances in your Account in whatever manner we  determine.  Generally,  payment  amounts  that  exceed  the required 
Minimum Payment Due will be allocated to balances with higher Annual Percentage Rates (“APR”) (including new transactions) before balances with 
lower APRs.  

9. INTEREST: When your Account has a balance subject to interest (as described in Section 11 below), we will calculate interest by applying a
daily periodic rate to that balance. If you owe interest in any billing cycle, the charge will be no less than the minimum interest charge stated in the
Summary of Terms. 

10. PERIODIC  RATES:  We  will  use  one  or  more  daily  periodic rates to calculate how much interest you owe. Your  periodic rates and
corresponding APRs will vary. The daily periodic rate is a rate equal to the APR divided by the number of days in that year. Except as otherwise
provided in a promotional offer, the rate for Purchases (“Purchase Rate”), the rate for Cash Advances (“Cash Advance Rate”), and the rate
for Balance Transfers (“Balance Transfer Rate”) will be the rates shown in the Summary of Terms. Please see your Summary of Terms for details,
including the current periodic rates and corresponding APRs.

Penalty Rate - The periodic rates and corresponding APRs on all balances will increase to the “Penalty Rate” (as described in your Summary of 
Terms) if: (a) your required Minimum Payment Due is not credited to your Account within five (5) days of the Payment Due Date or (b) a payment 
on your Account is not honored by your bank or other financial institution. If the Penalty Rate is applied, it will apply to your Account until you have 
made the Minimum Payment Due by the Payment Due Date for six (6) consecutive months.  

Variable Rate – Except as provided in a promotional offer, the periodic rates and corresponding APRs on your account will vary with the market 
based  on  the  highest  domestic  bank “prime rate” as published in the “Money Rates” section  of The Wall Street Journal (the “Prime Rate”). We 
determine your APRs for each billing cycle by adding the “Margins” described and shown in the Summary of Terms to the Prime Rate published 
two days prior to the billing cycle closing date. If the Prime Rate increases, the daily periodic rates and corresponding APRs may increase, and 
as a result, the interest, the Minimum Payment Due, and the number of payments required to repay all amounts owed on the Account also may 
increase. Any new periodic rate will apply to the existing balance of your Account to the extent permitted by applicable law. 

11. WHEN INTEREST BEGINS TO ACCRUE: Except as provided below, interest on Purchases, Cash Advances and Balance Transfers will
accrue from the date of the transaction (or, at our option, from the date they are posted to your Account).

Purchases –You will not have to pay interest on Purchases if you pay your New Balance in full by the Payment Due Date shown on your Monthly 
Statement, which shall not be less than 22 days after the close of the billing cycle.  

Cash Advances and Balance Transfers – Unless otherwise disclosed in a promotional offer, there is no period in which credit extended may 
be paid without incurring interest on Cash Advances or Balance Transfers. 

12. BALANCE SUBJECT TO INTEREST RATE: We will figure interest on your Account by applying the periodic rate applicable to the “daily
balance” of your Balance Transfers, Cash Advances, and Purchases (if applicable) for each day in the billing cycle. To get the “daily balance”, we
take the beginning balance of your Balance Transfers, Cash Advances, and Purchases (if applicable) each day, add any new Purchases, Cash
Advances, Balance Transfers, and/or applicable fees, and subtract any payments and/or credits. This gives us the “daily balance.” This Agreement
provides for the compounding of interest. 

13. FEES:

Annual  Fee  –  If  applicable,  you  agree  to  pay  us  when  billed each year (subject to applicable federal law) a non-refundable Annual Fee in the 
amount stated in the Summary  of Terms. Your payment of this fee will not affect any of our  rights under this Agreement, including our right to 
terminate your Account. 

Transaction Fees — Unless otherwise disclosed in a promotional offer, we will charge a one-time transaction fee for each Balance Transfer and 
Cash Advance. The calculation of these fees is described in the Summary of Terms. The fee for a Balance Transfer will be added to your Balance 
Transfer balance. The fee for a Cash Advance will be added to your Cash Advance balance. 

Penalty Fees — If we do not receive a payment from you in at least the amount of your Minimum Payment Due by the Payment Due Date shown 
on your Monthly Statement,  we may charge you a Late Payment Fee (as described  in your Summary of Terms). If your bank does not honor  the 
payment you give us, or we must return a payment because it is unsigned or otherwise irregular, we may charge you a Returned Payment Fee (as 
described in your Summary of Terms). The amount of the Late Payment or Return Payment Fee will be $25 for the first occurrence and $35 for 
any subsequent occurrence within six (6) billing cycles. No Penalty Fee will exceed the lesser of the amount stated in the Summary of Terms or the 
amount of  the Minimum Payment Due when the payment was late  or returned. We will charge only one Penalty Fee for any  single event or 
transaction, even if it involves a late and returned payment in one cycle.  

Administrative Fees — You may be charged administrative fees for photocopies of sales slips, duplicate copies of Monthly Statements, for the 
expedited mailing or replacement of your Card and for any EMV or “chip” card you request. These fees will be disclosed to you at the time of the 
request.  

14.  DEFAULT/COLLECTION  COSTS:  Subject  to  any  restrictions of applicable law, your Account will be in default  and  we  may  demand 
immediate payment of the entire amount you owe us without giving you prior notice if: (a) in any month we do not receive your Minimum Payment 
Due by the Payment Due Date; (b) you otherwise fail to comply with this Agreement; (c) there is  a filing for your bankruptcy; (d) you die or become 
incapacitated; or (e) we believe in good faith that the payment or performance of your obligations under this Agreement is impaired for any other 
reason. To the extent the state where you live permits the charging of such fees and costs, you agree to pay all collection expenses actually 
incurred by us in the collections of amounts you owe under this Agreement (including court costs and the fees of any collection agency to which 
we refer your Account) and, if we refer your Account after your default to an attorney who is not our regularly salaried employee, you agree to pay 
the  reasonable fees of such attorney. We will not be obligated  to honor any attempted use of your Account if default has  occurred or we have 
determined to terminate your Account  or limit your Account privileges (as discussed in Section  15 below). WISCONSIN RESIDENTS: We will not 
charge you attorneys’ fees, court costs, or other collection costs incurred as a result of your default.  

15. TERMINATION:  Subject to any restrictions of applicable law, we may terminate your privileges under this Agreement or limit your right to 
make  Purchases,  obtain  Cash Advances  or  initiate Balance  Transfers  at  any  time  without notice or liability. If we ask, you must destroy your 
Cards and any unused Credit Devices. You agree that you will not try to make a Purchase, obtain a Cash Advance or initiate a Balance Transfer 
after you have been notified that your privilege to use your Account has been terminated. You may terminate this Agreement at any time. If you 
do, you must destroy all Cards and Credit Devices previously issued on the Account. If you call us, we may require that termination of your Account 
(by you or us) will not affect your existing obligations under this Agreement or your liability for all amounts owed under the terms of this Agreement. 

16. NOTICES:  We will send Monthly Statements and any other notices to you at the address shown in our filed. If this is a joint Account, we 
can send Monthly Statements and notices to either of you, unless otherwise required by applicable law. You promise to inform us promptly in writing 
of any change in your address. We may, at our discretion, accept address corrections from the United States Postal Service.  

17. INTERNATIONAL TRANSACTIONS - FEE AND FOREIGN CURRENCY CONVERSION RATE:  You may use your Card and your 
Account for Purchases  and Cash Advances that qualify as “International  Transactions” under this Agreement. For purposes of this  Agreement, 
“International  Transactions”  include  (a)  Purchases and Cash Advances made in currencies other  than U.S. Dollars from participating Visa 
merchants and (b) Purchases and Cash Advances made in U.S Dollars from participating Visa merchants located outside the U.S. For purposes 
of this Agreement, Purchases and Cash Advances made in U.S. Dollars from participating Visa merchants located in a U.S. territory, U.S. military 
base, U.S. embassy, or U.S. consulate are not deemed to be International Transactions.  

Each time you use your Card or Account to make an International Transaction, you agree to pay the International Transaction Fee stated in your 
Summary of Terms, whether the transaction is originally made in U.S. Dollars or converted to U.S. Dollars from a foreign currency. 

For International Transactions converted to U.S. Dollars from a foreign currency, you agree to pay the converted amount plus the International 
Transaction  Fee  stated  in  your Summary of Terms. Conversion to U.S. Dollars may  occur  on  a  date  other  than  the  date  of  the  transaction; 
therefore, the currency conversion rate may be different from the rate in effect at the time of the transaction. Visa®, and not us, determines the 
currency conversion rate that is used.  

Transactions made in currencies other than U.S. Dollars will be converted to U.S. Dollars under the regulations established by Visa Inc. in effect 
at the time the transaction is processed by Visa®. Current Visa® regulations in effect provide that the currency conversion rate will be either a 
rate selected by Visa® from the range of rates available in wholesale currency markets, which rate may vary from the rate Visa itself receives, or the 
government-mandated rate, as applicable, in each instance effective one day before the applicable Central Processing Date.  

18. SKIP/PROMOTIONAL FEATURES:  From time to time, we may let you skip or reduce one or more Minimum Payments Due during a year 
and/or we may temporarily reduce or eliminate interest on all or a portion of the outstanding balances on your Account or offer you other special 
terms. If we do, we will advise you of the scope and duration of the applicable skip or promotional feature. We will end the skip or promotional 
feature and apply your regular rates and terms to the extent permitted by applicable law.  

19. CHANGES  TO THIS AGREEMENT:  Subject to applicable law, we can change the terms of, add new terms to, or delete terms 
from this Agreement at any time. We will give you notice of the change, addition or deletion as required by applicable law. As permitted by 
applicable law, any change, addition, or deletion to this Agreement will become effective at the time stated in our notice. Unless we state otherwise, 
the change, addition, or deletion will apply to all outstanding balances on your Account as well as to new transactions to the extent permitted by 
applicable law. 

20. CREDIT REPORTING; INACCURATE INFORMATION: 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. If you believe that we have information about you 
that is inaccurate or that we have reported or may report to a credit reporting agency information about you that is inaccurate, please notify us on the 
specific information that you believe is inaccurate by writing to us at BMW Bank of North America, P.O. Box 9210, Old Bethpage, NY 11804. 

21. TELEPHONE MONITORING AND RECORDING: In the regular course of our business we may monitor and record phone conversations 
made or received by us. You agree that we will have such right with respect to all phone conversations between you and us, whether initiated by 
you or us. Subject to any restrictions of applicable law, you  agree  that  we  may  contact  you  for  any  reason  regarding  your  Account,  including 
collection of payments, using (i) any contact information, including, but not limited to, an email address or cell phone number you provide at the 
time of application or in the future and (ii) an automated telephone dialing system and/or artificial or prerecorded voice message, even if you are 
charged for the call under your phone plan, unless you call us at 888-269-2273 to limit this consent.  

22.  REFUSAL TO HONOR CARD:  We are not responsible  for  refusals  to  honor  your  Card  or  Credit  Devices.  And,  except  as  otherwise 
required by applicable law or regulation, we will not be responsible for merchandise or services purchased or leased through use of your Account. 

23. IRREGULAR PAYMENTS: We can accept late payments, partial payments, checks and money orders marked “Paid in Full” or language 
having the same effect without losing any of our rights under this Agreement. No payment shall operate as an accord and satisfaction without 
our  prior  written  approval.  All  written  communications  concerning  disputed  amounts,  including  any  check  or  other  payment 

 
 
 
 
 
 
 
 
 
instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions 
or limitations or as full satisfaction of a disputed amount, must be mailed or delivered to BMW Bank of North America, 2735 E. Parleys 
Way, Suite 301, Salt Lake City, UT 84109-1666. 

24. LIABILITY FOR UNAUTHORIZED USE OF YOUR CARD OR ACCOUNT: If you notice the loss or theft of your Card or a possible
unauthorized use of your Card or Account, you should write to us immediately at BMW Card Services, P.O. Box 9210, Old Bethpage, NY 11804 or
call us (toll free) at 888 BMW CARD or (collect) at 410 581 9994. You will not be liable for any such unauthorized use that occurs after you
notify us. You may, however, be liable for such unauthorized use that occurs before you notify us. In any case, your liability for such unauthorized
use will not exceed $50.

25. ASSIGNMENT: We may at any time assign your Account, any sums due on your Account, this Agreement or our rights or obligations under
this Agreement. The person(s) to  whom we make any such assignment shall be entitled to all  of our rights under this Agreement, to the extent
assigned. You may not assign your Account or any of your rights or obligations under this Agreement.

26. NO WAIVER; ENTIRE AGREEMENT: Our failure to exercise any of our rights under this Agreement, our delay in enforcing any of our
rights, or our waiver of our rights on any occasion shall not constitute a waiver of such rights on any other occasion. This Agreement, together with
all documents incorporated herein, is the entire agreement between you and us relating to your Account. This Agreement cannot be changed
except as explained in this Agreement.

27. GOVERNING LAW: THIS AGREEMENT AND YOUR ACCOUNT, AND ANY CLAIM, DISPUTE OR CONTROVERSY ARISING FROM
OR RELATING TO THIS AGREEMENT OR YOUR ACCOUNT, WHETHER BASED ON CONTRACT, TORT, FRAUD AND OTHER INTENTIONAL
TORTS,  STATUTE,  REGULATION,  CONSTITUTION,  COMMON  LAW AND/OR  EQUITY, ARE  GOVERNED  BY  AND  CONSTRUED  IN
ACCORDANCE WITH THE LAWS OF THE STATE OF UTAH (WITHOUT REGARD TO INTERNAL PRINCIPLES OF CONFLICTS OF LAW) AND
APPLICABLE FEDERAL LAW. THE LEGALITY,  ENFORCEABILITY  AND  INTERPRETATION  OF  THIS  AGREEMENT AND THE AMOUNTS
CONTRACTED FOR, CHARGED AND RECEIVED UNDER THIS AGREEMENT WILL BE GOVERNED BY SUCH LAWS. THIS AGREEMENT IS
ENTERED INTO BETWEEN YOU AND US IN UTAH. WE MAKE DECISIONS ABOUT GRANTING CREDIT TO YOU FROM, EXTEND CREDIT TO
YOU UNDER THIS AGREEMENT FROM, AND ACCEPT YOUR PAYMENTS IN, UTAH.

28. HEADINGS;  CAPTIONS:  Section  and paragraph  headings and  captions  used in this  Agreement  are for convenience and  reference
purposes only, and do not limit or affect the meaning of the provisions in this Agreement. Unless  the context specifically requires otherwise,
the use of the singular in this Agreement includes the plural (and vice versa).

29. INQUIRIES OR QUESTIONS: You may address any inquiries or questions which you have about your Account to BMW Bank of 
North America, P.O. Box 9210, Old Bethpage, NY 11804, or you may call us at 888 BMW CARD.

Covered  Borrowers  under  the  Military  Lending  Act.  Effective  October  3,  2017  for  New  Accounts:  Federal  law  provides 
important  protections to members of the Armed Forces  and their dependents relating to extensions of consumer credit.  In  general,  the  cost  of 
consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This 
rate  must  include,  as  applicable  to  the  credit  transaction  or  account:  The  costs  associated  with  credit  insurance  premiums;  fees  for 
ancillary  products  sold  in connection with the credit transaction; any application fee charged (other than certain application fees for specified 
credit transactions or accounts); and any participation  fee charged (other  than certain  participation fees  for  a  credit  card  account).  To hear 
disclosures related to the Military Lending Act, please call this toll-free number: 1-877-724-3317.  

MARYLAND RESIDENTS: 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. 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.  

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.  

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.  

WISCONSIN RESIDENTS: No provision of a marital property agreement, a unilateral statement under Wisconsin Statutes section 766.59 or 
a  court decree under section 766.70 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. 

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, contact us at 1-888-269-6464 or send a letter to: 

BMW Bank of North America 
P.O. Box 9210 
Old Bethpage, NY 11804 

In your communication please provide the following information:

• 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.

What Will Happen After We Receive Your Communication:

We must do two things: 

1. Within 30 days of notification, we must tell you that we received your communication. We will also tell you if we have already corrected the error.
2. Within 90 days of receiving your communication, 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 your credit limit.

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. 

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.

2.

The purchase must have been 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.)
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 at 1-888-269-2273 or send a letter to:

 BMW Bank of North America 
P.O. Box 9210 
Old Bethpage, NY 11804 

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.  

M-125079

4/2018

CARDHOLDER AGREEMENT 
 RETAIL INSTALMENT CREDIT AGREEMENT 

1. YOUR  BMW   VISA®  SIGNATURE  CARD  AGREEMENT: This is the Cardholder Agreement (the “Agreement”) that establishes the
terms of your Cardholder Account (“Account”) with BMW Bank of North America, P.O. Box 9210, Old Bethpage, NY 11804. Please read it carefully
and keep it for your records. The application or pre-approved acceptance you signed or otherwise submitted (including the accompanying federal
and state notices), your Card, the Card Carrier we send with your Card, the Summary of Terms we provide on or with your Card Carrier and your
signature (including any digital or electronic signature) on the application or pre- approved acceptance, your Card, and any sales slip or other
evidence of indebtedness are part of and are incorporated into this Agreement. Any use of your Card or Account constitutes your acceptance of
the terms and conditions of this Agreement. This Agreement begins on the earlier of (a) the date you sign or otherwise submit an application or
pre-approved acceptance that is approved by us or (b) the first date that you or someone authorized by you uses the Account in a transaction that
we  approve  (in  NY,  the  first  date that  you  or someone  authorized by  you  signs  a  sales slip  or memorandum  or the  first  date that  another
document is issued to you or someone authorized by you as evidence of a transaction on your Account that we approve).

2. CERTAIN DEFINITIONS: In this Agreement, the words “you” and “your” refer to each person (jointly and severally if more than one) who
has applied for the Account and any other person who has agreed to be responsible for the Account. The words “we”, “us” and “our” refer to 
BMW Bank of North America, its agents, successors or assigns. “Card” refers to each Visa Card that is issued by us for your Account. The
term “Check” refers to a convenience check, a written Credit Device that we may issue to you. The term “Credit Device” refers to a Check,
payee-designated check, draft, order, or other instrument or transaction that accesses the Account, other than a Card. Any Card or Credit
Device must be destroyed or returned to us immediately upon our request.

3. USING  YOUR  ACCOUNT:  You  may  use  your  Card  or  Account  to  purchase  or  lease  goods  or  services  or  pay  amounts  you  owe
(collectively, “Purchases”) wherever the Card is honored. From time to time we may offer you the opportunity to use your Account or a Credit
Device to pay amounts you owe under accounts with other creditors (“Balance Transfers”). You may also use your Card or a Check to obtain
cash loans (“Cash Advances”) from any financial institution that accepts the Card.

You may obtain a Cash Advance by writing a Check. Checks will not be subject to any stop payment order and will not be returned to you. 
Each Check may be used only by the person(s) whose name(s) is/are printed on it. Each Check must be completed and signed by you (or 
either of you) in the same manner as a regular personal check. You may not use any Check we issue to you to pay any amount you owe under 
your  Cardholder  Agreement  or  under  any  other credit  agreement  or  account  you may  have  with  us. In  addition  to  Check  transactions, the 
following transactions will be treated as Cash Advances:

- obtaining cash from participating Automated Teller Machines (“ATM”);
- obtaining cash from participating financial institutions nationwide that have agreed with Visa to allow you to use your Card to obtain cash;
- obtaining money orders, wire transfers, casino or gaming chips, travelers’ checks, foreign currency, vouchers redeemable for  cash or
similar items.

You may not use your Card or Account for any gambling or for any illegal purpose. 

You may not use your Card or Account to make purchases of cryptocurrency or digital currency from or through vendors identified as digital 
currency marketplaces, exchanges, or brokers.

4. OBLIGATIONS ON YOUR ACCOUNT: You authorize us to pay and charge your Account for all Purchases, Balance Transfers and Cash
Advances made or obtained by you or anyone you authorize or by anyone who has apparent authority to use your Card or Account. You promise 
to pay us for all of these Purchases, Balance Transfers and Cash advances, plus any interest assessed on your Account and any other charges 
and fees you may owe under the terms of this Agreement. You will be obligated to pay authorized charges to your Account whether resulting 
from  (a)  actual  use  of  your  Card  or  a  Credit  Device,  (b)  mail  order  or  telephone,  internet  or  other  electronic  Purchases  made  without 
presenting the Card or (c) any other circumstance where you authorize a charge, or authorize someone else to make a charge, to your Account.

5. JOINT ACCOUNTS: If this is a joint Account, each of you has the right to use the Account as provided for in this Agreement and is individually
responsible to pay the entire  balance  due.  Either  of  you  may  give  us  notices  required  or  make  requests  permitted  under  this Agreement. If 
each of you gives us notices or makes requests, and those notices or requests are conflicting, we may honor or refuse to honor either request at 
our option. We can do so without notice to any person(s). We will not be liable for honoring or refusing to honor any conflicting request. We may 
require that you pay the full amount owed without our first asking the other person(s) to pay.

6. CREDIT LIMIT: Your maximum amount of credit we will extend to you (“Credit Limit”) is initially shown on the Card Carrier containing your
Card. We may designate that only a portion of your Credit Limit is available for Cash Advances (“Cash Advance Credit Limit”) and you agree 
not to exceed that limit. Therefore, since we may change any applicable Credit Limit from time to time, your latest Credit Limit(s) will appear on 
your Monthly Statement. You agree not to make a Purchase or obtain a Balance Transfer or a Cash Advance that would cause the unpaid 
balance  of  your  Account  (including  interest,  fees  and  other charges) to exceed any applicable Credit Limit.  We  may  honor  Purchases, 
Balance  Transfers and Cash Advances in excess of any applicable Credit Limit at our sole discretion. If we do, this Agreement also applies to 
that  excess and you  agree  to  pay  that  excess  immediately  upon  request.  The  fact  that  we  may  at  any  time  honor  a  Purchase,  Balance 
Transfer or Cash Advance in excess of the applicable Credit Limit does not obligate us to do so again.
Subject to any restrictions under applicable law, you agree  that  we  may  change  or  cancel  any  applicable  Credit  Limit  at  any  time  without 
affecting  your  obligation  to  pay  all  amounts owed under this Agreement. For security reasons,  we  may  limit  the  number  or  dollar  amount  of 
transactions that may be accomplished with your Card, Account or any Credit Device, and we have the right to limit authorizations to complete 
such transactions if we consider it necessary to verify payments received. 

7. MONTHLY STATEMENTS: We will send a statement at the end of each monthly billing cycle (“Monthly Statement”) in which your 
Account
has  a  debit  or credit  balance of more than $1 or if interest has been imposed,  or  as  required  by  applicable  law.  Among  other  things,  your 
Monthly Statement  will  show  your  New  Balance,  any interest, any Credit Limit(s) and credit available, the minimum  amount  you must  pay 
(“Minimum Payment Due”) and the date when payment is due (“Payment Due Date”).
Minimum Monthly Payment: If the New Balance shown on your monthly statement is less than $20, your Minimum Monthly Payment due by the 

Payment Due Date) is your New Balance. Otherwise, the Minimum Monthly Payment for each billing cycle will be the greater of $20 or the total of 
(1) 1% of the New Balance, plus (2) any Interest Charge, plus (3) any Overlimit Fee, plus (4) any Late Fee, plus (5) any mount past due, plus (6)
if we so elect, any amount over your Credit Limit, including any Cash Advance exceeding your Cash Advance Credit Limit, at the time of billing. You
may pay more than the Minimum Payment Due and may at any time pay the full amount you owe us without incurring any additional
charge.

8. PAYMENT ON ACCOUNT: Except as otherwise provided in this Agreement or any promotional offer, you must pay at least the Minimum
Payment Due each billing cycle that there is a balance on your Account. All payments must be made in U.S. dollars. Any payment made by check or
other negotiable instrument must be drawn on a U.S. bank or a U.S. branch of a foreign bank.

If we receive a payment on your Account at the address shown on your Monthly Statement before 5:00 p.m. ET on any Processing Day or if you 
make a payment by telephone or internet your payment will be considered made on the date received. The term “Processing Day” refers to any 
Sunday through Friday, excluding federal and state banking holidays on which we are not open for business. Your payment will not be considered 
received  by  us  if  the payment is later dishonored. Payments made by mail  received at a location other than the payment address  shown on the 
Monthly Statement may be delayed by up to five Processing Days.  

Payments posted to your Account may not immediately result in additional available credit. Subject to any restrictions of applicable law, we will 
apply your payments  to the balances in your Account in whatever manner we  determine.  Generally,  payment  amounts  that  exceed  the required 
Minimum Payment Due will be allocated to balances with higher Annual Percentage Rates (“APR”) (including new transactions) before balances with 
lower APRs.  

9. INTEREST: When your Account has a balance subject to interest (as described in Section 11 below), we will calculate interest by applying a
daily periodic rate to that balance. If you owe interest in any billing cycle, the charge will be no less than the minimum interest charge stated in the
Summary of Terms. 

10. PERIODIC  RATES:  We  will  use  one  or  more  daily  periodic rates to calculate how much interest you owe. Your  periodic rates and
corresponding APRs will vary. The daily periodic rate is a rate equal to the APR divided by the number of days in that year. Except as otherwise
provided in a promotional offer, the rate for Purchases (“Purchase Rate”), the rate for Cash Advances (“Cash Advance Rate”), and the rate
for Balance Transfers (“Balance Transfer Rate”) will be the rates shown in the Summary of Terms. Please see your Summary of Terms for details,
including the current periodic rates and corresponding APRs.

Penalty Rate - The periodic rates and corresponding APRs on all balances will increase to the “Penalty Rate” (as described in your Summary of 
Terms) if: (a) your required Minimum Payment Due is not credited to your Account within five (5) days of the Payment Due Date or (b) a payment 
on your Account is not honored by your bank or other financial institution. If the Penalty Rate is applied, it will apply to your Account until you have 
made the Minimum Payment Due by the Payment Due Date for six (6) consecutive months.  

Variable Rate – Except as provided in a promotional offer, the periodic rates and corresponding APRs on your account will vary with the market 
based  on  the  highest  domestic  bank “prime rate” as published in the “Money Rates” section  of The Wall Street Journal (the “Prime Rate”). We 
determine your APRs for each billing cycle by adding the “Margins” described and shown in the Summary of Terms to the Prime Rate published 
two days prior to the billing cycle closing date. If the Prime Rate increases, the daily periodic rates and corresponding APRs may increase, and 
as a result, the interest, the Minimum Payment Due, and the number of payments required to repay all amounts owed on the Account also may 
increase. Any new periodic rate will apply to the existing balance of your Account to the extent permitted by applicable law. 

11. WHEN INTEREST BEGINS TO ACCRUE: Except as provided below, interest on Purchases, Cash Advances and Balance Transfers will
accrue from the date of the transaction (or, at our option, from the date they are posted to your Account).

Purchases –You will not have to pay interest on Purchases if you pay your New Balance in full by the Payment Due Date shown on your Monthly 
Statement, which shall not be less than 22 days after the close of the billing cycle.  

Cash Advances and Balance Transfers – Unless otherwise disclosed in a promotional offer, there is no period in which credit extended may 
be paid without incurring interest on Cash Advances or Balance Transfers. 

12. BALANCE SUBJECT TO INTEREST RATE: We will figure interest on your Account by applying the periodic rate applicable to the “daily
balance” of your Balance Transfers, Cash Advances, and Purchases (if applicable) for each day in the billing cycle. To get the “daily balance”, we
take the beginning balance of your Balance Transfers, Cash Advances, and Purchases (if applicable) each day, add any new Purchases, Cash
Advances, Balance Transfers, and/or applicable fees, and subtract any payments and/or credits. This gives us the “daily balance.” This Agreement
provides for the compounding of interest. 

13. FEES:

Annual  Fee  –  If  applicable,  you  agree  to  pay  us  when  billed each year (subject to applicable federal law) a non-refundable Annual Fee in the 
amount stated in the Summary  of Terms. Your payment of this fee will not affect any of our  rights under this Agreement, including our right to 
terminate your Account. 

Transaction Fees — Unless otherwise disclosed in a promotional offer, we will charge a one-time transaction fee for each Balance Transfer and 
Cash Advance. The calculation of these fees is described in the Summary of Terms. The fee for a Balance Transfer will be added to your Balance 
Transfer balance. The fee for a Cash Advance will be added to your Cash Advance balance. 

Penalty Fees — If we do not receive a payment from you in at least the amount of your Minimum Payment Due by the Payment Due Date shown 
on your Monthly Statement,  we may charge you a Late Payment Fee (as described  in your Summary of Terms). If your bank does not honor  the 
payment you give us, or we must return a payment because it is unsigned or otherwise irregular, we may charge you a Returned Payment Fee (as 
described in your Summary of Terms). The amount of the Late Payment or Return Payment Fee will be $25 for the first occurrence and $35 for 
any subsequent occurrence within six (6) billing cycles. No Penalty Fee will exceed the lesser of the amount stated in the Summary of Terms or the 
amount of  the Minimum Payment Due when the payment was late  or returned. We will charge only one Penalty Fee for any  single event or 
transaction, even if it involves a late and returned payment in one cycle.  

Administrative Fees — You may be charged administrative fees for photocopies of sales slips, duplicate copies of Monthly Statements, for the 
expedited mailing or replacement of your Card and for any EMV or “chip” card you request. These fees will be disclosed to you at the time of the 
request.  

14. DEFAULT/COLLECTION  COSTS:  Subject  to  any  restrictions of applicable law, your Account will be in default  and  we  may  demand
immediate payment of the entire amount you owe us without giving you prior notice if: (a) in any month we do not receive your Minimum Payment
Due by the Payment Due Date; (b) you otherwise fail to comply with this Agreement; (c) there is  a filing for your bankruptcy; (d) you die or become
incapacitated; or (e) we believe in good faith that the payment or performance of your obligations under this Agreement is impaired for any other
reason. To the extent the state where you live permits the charging of such fees and costs, you agree to pay all collection  expenses actually
incurred by us in the collections of amounts you owe under this Agreement (including court costs and the fees of any collection agency to which
we refer your Account) and, if we refer your Account after your default to an attorney who is not our regularly salaried employee, you agree to pay
the  reasonable fees of such attorney. We will not be obligated  to honor any attempted use of your Account if default has  occurred or we have
determined to terminate your Account  or limit your Account privileges (as discussed in Section  15 below). WISCONSIN RESIDENTS: We will not
charge you attorneys’ fees, court costs, or other collection costs incurred as a result of your default.

15. TERMINATION:  Subject to any restrictions of applicable law, we may terminate your privileges under this Agreement or limit your right to
make  Purchases,  obtain  Cash Advances  or  initiate Balance  Transfers  at  any  time  without notice or liability. If we ask, you must destroy your
Cards and any unused Credit Devices. You agree that you will not try to make a Purchase, obtain a Cash Advance or initiate a Balance Transfer
after you have been notified that your privilege to use your Account has been terminated. You may terminate this Agreement at any time. If you
do, you must destroy all Cards and Credit Devices previously issued on the Account. If you call us, we may require that termination of your Account
(by you or us) will not affect your existing obligations under this Agreement or your liability for all amounts owed under the terms of this Agreement.

16. NOTICES:  We will send Monthly Statements and any other notices to you at the address shown in our filed. If this is a joint Account, we
can send Monthly Statements and notices to either of you, unless otherwise required by applicable law. You promise to inform us promptly in writing
of any change in your address. We may, at our discretion, accept address corrections from the United States Postal Service.

17. INTERNATIONAL TRANSACTIONS - FEE AND FOREIGN CURRENCY CONVERSION RATE:  You may use your Card and your
Account for Purchases  and Cash Advances that qualify as “International  Transactions” under this Agreement. For purposes of this  Agreement,
“International  Transactions”  include  (a)  Purchases and Cash Advances made in currencies other  than U.S. Dollars from participating Visa
merchants and (b) Purchases and Cash Advances made in U.S Dollars from participating Visa merchants located outside the U.S. For purposes
of this Agreement, Purchases and Cash Advances made in U.S. Dollars from participating Visa merchants located in a U.S. territory, U.S. military
base, U.S. embassy, or U.S. consulate are not deemed to be International Transactions.

Each time you use your Card or Account to make an International Transaction, you agree to pay the International Transaction Fee stated in your 
Summary of Terms, whether the transaction is originally made in U.S. Dollars or converted to U.S. Dollars from a foreign currency. 

For International Transactions converted to U.S. Dollars from a foreign currency, you agree to pay the converted amount plus the International 
Transaction  Fee  stated  in  your Summary of Terms. Conversion to U.S. Dollars may  occur  on  a  date  other  than  the  date  of  the  transaction; 
therefore, the currency conversion rate may be different from the rate in effect at the time of the transaction. Visa®, and not us, determines the
currency conversion rate that is used.  

Transactions made in currencies other than U.S. Dollars will be converted to U.S. Dollars under the regulations established by Visa Inc. in effect 
at the time the transaction is processed by Visa®. Current Visa® regulations in effect provide that the currency conversion rate will be either a
rate selected by Visa® from the range of rates available in wholesale currency markets, which rate may vary from the rate Visa itself receives, or the
government-mandated rate, as applicable, in each instance effective one day before the applicable Central Processing Date.  

18. SKIP/PROMOTIONAL FEATURES:  From time to time, we may let you skip or reduce one or more Minimum Payments Due during a year
and/or we may temporarily reduce or eliminate interest on all or a portion of the outstanding balances on your Account or offer you other special
terms. If we do, we will advise you of the scope and duration of the applicable skip or promotional feature. We will end the skip or promotional
feature and apply your regular rates and terms to the extent permitted by applicable law.

19. CHANGES  TO THIS AGREEMENT:  Subject to applicable law, we can change the terms of, add new terms to, or delete terms
from this Agreement at any time. We will give you notice of the change, addition or deletion as required by applicable law. As permitted by
applicable law, any change, addition, or deletion to this Agreement will become effective at the time stated in our notice. Unless we state otherwise,
the change, addition, or deletion will apply to all outstanding balances on your Account as well as to new transactions to the extent permitted by
applicable law. 

20. CREDIT REPORTING; INACCURATE INFORMATION: 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. If you believe that we have information about you
that is inaccurate or that we have reported or may report to a credit reporting agency information about you that is inaccurate, please notify us on the
specific information that you believe is inaccurate by writing to us at BMW Bank of North America, P.O. Box 9210, Old Bethpage, NY 11804.

21. TELEPHONE MONITORING AND RECORDING: In the regular course of our business we may monitor and record phone conversations
made or received by us. You agree that we will have such right with respect to all phone conversations between you and us, whether initiated by
you or us. Subject to any restrictions of applicable law, you  agree  that  we  may  contact  you  for  any  reason  regarding  your  Account,  including
collection of payments, using (i) any contact information, including, but not limited to, an email address or cell phone number you provide at the
time of application or in the future and (ii) an automated telephone dialing system and/or artificial or prerecorded voice message, even if you are
charged for the call under your phone plan, unless you call us at 888-269-2273 to limit this consent.

22. REFUSAL TO HONOR CARD:  We are not responsible  for  refusals  to  honor  your  Card  or  Credit  Devices.  And,  except  as  otherwise
required by applicable law or regulation, we will not be responsible for merchandise or services purchased or leased through use of your Account.

23. IRREGULAR PAYMENTS: We can accept late payments, partial payments, checks and money orders marked “Paid in Full” or language
having the same effect without losing any of our rights under this Agreement. No payment shall operate as an accord and satisfaction without
our  prior  written  approval.  All  written  communications  concerning  disputed  amounts,  including  any  check  or  other  payment

instrument that indicates that the payment constitutes “payment in full” of the amount owed or that is tendered with other conditions 
or limitations or as full satisfaction of a disputed amount, must be mailed or delivered to BMW Bank of North America, 2735 E. Parleys 
Way, Suite 301, Salt Lake City, UT 84109-1666. 

24. LIABILITY FOR UNAUTHORIZED USE OF YOUR CARD OR ACCOUNT: If you notice the loss or theft of your Card or a possible
unauthorized use of your Card or Account, you should write to us immediately at BMW Card Services, P.O. Box 9210, Old Bethpage, NY 11804 or
call us (toll free) at 888 BMW CARD or (collect) at 410 581 9994. You will not be liable for any such unauthorized use that occurs after you
notify us. You may, however, be liable for such unauthorized use that occurs before you notify us. In any case, your liability for such unauthorized
use will not exceed $50.

25. ASSIGNMENT: We may at any time assign your Account, any sums due on your Account, this Agreement or our rights or obligations under
this Agreement. The person(s) to  whom we make any such assignment shall be entitled to all  of our rights under this Agreement, to the extent
assigned. You may not assign your Account or any of your rights or obligations under this Agreement.

26. NO WAIVER; ENTIRE AGREEMENT: Our failure to exercise any of our rights under this Agreement, our delay in enforcing any of our
rights, or our waiver of our rights on any occasion shall not constitute a waiver of such rights on any other occasion. This Agreement, together with
all documents incorporated herein, is the entire agreement between you and us relating to your Account. This Agreement cannot be changed
except as explained in this Agreement.

27. GOVERNING LAW: THIS AGREEMENT AND YOUR ACCOUNT, AND ANY CLAIM, DISPUTE OR CONTROVERSY ARISING FROM
OR RELATING TO THIS AGREEMENT OR YOUR ACCOUNT, WHETHER BASED ON CONTRACT, TORT, FRAUD AND OTHER INTENTIONAL
TORTS,  STATUTE,  REGULATION,  CONSTITUTION,  COMMON  LAW AND/OR  EQUITY, ARE  GOVERNED  BY  AND  CONSTRUED  IN
ACCORDANCE WITH THE LAWS OF THE STATE OF UTAH (WITHOUT REGARD TO INTERNAL PRINCIPLES OF CONFLICTS OF LAW) AND
APPLICABLE FEDERAL LAW. THE LEGALITY,  ENFORCEABILITY  AND  INTERPRETATION  OF  THIS  AGREEMENT AND THE AMOUNTS
CONTRACTED FOR, CHARGED AND RECEIVED UNDER THIS AGREEMENT WILL BE GOVERNED BY SUCH LAWS. THIS AGREEMENT IS
ENTERED INTO BETWEEN YOU AND US IN UTAH. WE MAKE DECISIONS ABOUT GRANTING CREDIT TO YOU FROM, EXTEND CREDIT TO
YOU UNDER THIS AGREEMENT FROM, AND ACCEPT YOUR PAYMENTS IN, UTAH.

28. HEADINGS;  CAPTIONS:  Section  and paragraph  headings and  captions  used in this  Agreement  are for convenience and  reference
purposes only, and do not limit or affect the meaning of the provisions in this Agreement. Unless the context specifically requires otherwise,
the use of the singular in this Agreement includes the plural (and vice versa).

29. INQUIRIES OR QUESTIONS: You may address any inquiries or questions which you have about your Account to BMW Bank of 
North America, P.O. Box 9210, Old Bethpage, NY 11804, or you may call us at 888 BMW CARD.

Covered  Borrowers  under  the  Military  Lending  Act.  Effective  October  3,  2017  for  New  Accounts:  Federal  law  provides 
important  protections to members of the Armed Forces  and their dependents relating to extensions of consumer credit.  In  general,  the  cost  of 
consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This 
rate  must  include,  as  applicable  to  the  credit  transaction  or  account:  The  costs  associated  with  credit  insurance  premiums;  fees  for 
ancillary  products  sold  in connection with the credit transaction; any application fee charged (other than certain application fees for specified 
credit transactions or accounts); and any participation  fee charged (other  than certain  participation fees  for  a  credit  card  account).  To hear 
disclosures related to the Military Lending Act, please call this toll-free number: 1-877-724-3317.  

MARYLAND RESIDENTS: 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. 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.  

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.  

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.  

WISCONSIN RESIDENTS: No provision of a marital property agreement, a unilateral statement under Wisconsin Statutes section 766.59 or 
a  court decree under section 766.70 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. 

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, contact us at 1-888-269-2273 or send a letter to: 

BMW Bank of North America 
P.O. Box 9210 
Old Bethpage, NY 11804 

In your communication please provide the following information:

• 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.

What Will Happen After We Receive Your Communication:

We must do two things:

1. Within 30 days of notification, we must tell you that we received your communication. We will also tell you if we have already corrected the error.
2. Within 90 days of receiving your communication, 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 your credit limit.

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. 

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.

2.

The purchase must have been 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.)
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 at 1-888-269-2273 or send a letter to:

 BMW Bank of North America 
P.O. Box 9210 
Old Bethpage, NY 11804 

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.  

M-125081

4/2018