Revolving Retail Installment Agreement for  Banco Popular / AAdvantage® MasterCard  

Interest Rates and Interest Charges 

Annual Percentage Rate (APR) for 
Purchases 

1.99% introductory APR1 for the first 6 months.  

After that, your Standard APR will be from 11.24% to 24.24%, based on your creditworthiness. 
This APR will vary with the market based on the Prime Rate. 

APR for Balance Transfers 

0% introductory APR1 and 0 payment from the transfer date for 12 months and $0 balance transfer 
       fee. Applies to transfers made within the first 90 days from account opening. Requires 
       cancellation of the credit card from which the balance is transferred.   

After that, your Standard APR will be from 11.24% to 24.24%, based on your creditworthiness. This APR 
will vary with the market based on the Prime Rate. 

APR for Cash Advances 

18.49% to 24.24%, when you open your account based on your creditworthiness.  

    This Standard APR will vary with the market based on the Prime Rate. 

Penalty APR and When it Applies 

29.99%2 

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 due date. 

How Long Will the Penalty APR Apply?: If your APRs are increased for this reason, the 
Penalty Rate will remain in effect until the account becomes current and 6 consecutive 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.  Interest charges 
will not be imposed on purchases on those billing cycles where the New Balance is paid in full on 
or before the payment due date for two consecutive billing cycles, or if the only balance owed 
relates to offers that specify that is not required to pay the balance in full for a determined 
specific period of time.  If you do not pay the New Balance in full on or before the payment due 
date for two consecutive billing cycles, you will not obtain a grace period on purchases.  Interest 
on cash advances, balance transfers to other institutions and convenience checks will be 
calculated from the date that the transaction occurred. 

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 

$0 for the first 12 months, $50 thereafter. 
$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) 
1.4% of each transaction in U.S. dollars 

Up to $10 
Up to $35 

Paying Interest  

For Credit Card Tips from the 
Consumer Financial Protection 
Bureau 

Fees 

Annual Fee 

Transaction Fees 
   •  Cash Advances and 
      Convenience Checks 
   •  Balance Transfers 
   •  Foreign Transaction 

Penalty Fees 
   •  Returned Payment 
   •  Late Payment 

How We Will Calculate Your Balance:  We use a method called "average daily balance (including new purchases)".  Please 
refer to the account Agreement for more details. 
Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your account 
agreement. 

1 The corresponding Daily Periodic Rate for the Introductory APR is 0.0055%. 
2 The corresponding Daily Periodic Rate for the Penalty APR is 0.0822% 

ACCOUNT 
Taking into consideration the credit granted by Banco Popular of Puerto Rico (Bank) under this account, you (meaning each person 
who signs this Agreement as purchaser) bind yourself to pay to the Bank the total price of all purchases and cash advances (includes 

 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
balance transfers from other institutions and convenience checks) made on this account, as well as the INTEREST CHARGES agreed 
upon  under  the  terms  and  conditions  of  this  Agreement.  The  card  may  be  used  to  purchase  merchandise  and  services  in  those 
establishments where the Card is accepted, and to obtain cash advances from the Bank or any other bank that accepts the Cards, 
subject to the limits established from time to time by the Bank.  

CREDIT LIMIT 
You agree that the Bank, for your convenience, will establish a credit limit and that the purchases and cash advances that you charge 
to this Account, shall at no time exceed your credit limit. Upon receipt of your Card, you will be informed of your credit limit, which will 
appear in each monthly Account Statement as defined herein. You agree that the Bank may, from time to time, change your credit limit, 
taking into consideration your previous credit experience or payment history. Should you exceed your authorized credit limit; the Bank 
will have the right to cancel the Card, require its return or forfeit the Card and close the account. Any amount due, in excess of your 
authorized credit limit, shall be payable immediately. Your minimum payment shall include any excess over your authorized credit limit. 
The Bank may approve purchases or cash advances which cause the balance to exceed your credit limit without waiving any of its 
rights under this Agreement. 

INTEREST CHARGES APPLICABLE TO PUERTO RICO AND US VIRGIN ISLANDS 
The  INTEREST  CHARGES  will  be  computed  on  the  principal  balance  only.  You  will  pay  a  monthly  INTEREST  CHARGE  on  the 
balance of your account for the billing period. This INTEREST CHARGE will be variable and can change for each billing period. The 
INTEREST CHARGE for purchases, balance transfers from other institutions and convenience checks will be determined by adding the 
value  of  the  United  States  Prime  Rate,  published  in  The  Wall  Street  Journal  (Prime  Rate)  to  a  margin.  This  is  equivalent  to  the 
STADARD ANNUAL PERCENTAGE RATE (Standard APR). To determine the Daily Periodic Rate, the Standard APR must be divided 
by 365 and rounded up not exceeding the limits allowed by law. The APR for Purchases and Balance Transfers from other institutions 
will  be  from  11.24%  up  to  24.24%  with  a  corresponding  Daily  Periodic  Rate  from  0.0308  up  to  0.0664%.The  Standard  ANNUAL 
PERCENTAGE RATE for cash advances will be determined by adding the Prime Rate to a margin.  The APR for Cash Advances will 
be from 18.49% up to 24.24% with a corresponding Daily Periodic Rate from 0.0507% up to 0.0664%.  To determine the Daily Periodic 
Rate, the Standard APR must be divided by 365 and rounded up not exceeding the limits allowed by law. The margin applicable to your 
account will depend on your credit history at the time of approval of your application.  For each billing period, the INTEREST CHARGE 
and the Standard APR will be based on the Prime Rate current three business days prior to your account statement closing date. In the 
event that The Wall Street Journal is not published within any time period, the “LA TIMES” will be used as reference. An increase of the 
Prime Rate could represent an increase in the Standard APR and in the minimum monthly payment. Any change in your INTEREST 
CHARGE  will  apply  to  the  Balance  in  your  account  and  to new  transactions  during  the  billing  period.   The  INTEREST  CHARGE  is 
determined by multiplying the Average Daily Balance by the Daily Periodic Rate and by the number of days in the billing cycle. The 
Average Daily Balance is obtained by taking into account the initial balance for each day of the billing period, subtracting the payments 
and credits, and adding the purchases. Then all the daily balances within the billing period are added and the said total is divided by 
the number of days included within the billing period.  

ANNUAL FEE 
If applicable, the Annual Fee will be reflected on your first Account Statement after the first Card is issued and subsequently on each 
anniversary of the issuance of the first Card.  Please refer to the “Annual Fee” section on the table included. 

MINIMUM MONTHLY PAYMENT  
The monthly minimum payment will be determined using the Outstanding Balance. In addition, the minimum monthly payment shall 
include the total amount in excess of your authorized credit limit.  For balances from $0.01 to $24.99 the Minimum Payment will be the 
Outstanding Balance.  For Balances of $25 and over the Minimum Payment will be  2% of the Outstanding Balance or the Finance 
Charges + $10 or a fixed amount of $25, whichever is higher.   

PAYMENT APPLICATION 
If you pay the required minimum payment of the monthly Account Statement, said payment shall be applied in the following way: first to 
INTEREST  CHARGES and the remaining amount shall be applied first to the debt resulting from purchases and cash advances, with 
the lowest APR and then to the debt with the higher APR in ascending order. Consequently, the debt with the higher APR will not be 
reduced, until the debt with the lower APR is paid in full. If you pay an amount in excess of the minimum required payment the excess 
will be applied to the most onerous debt. Electronic, telephoned and mailed payments are credited on the same day if they are received 
by 5:00 p.m. Monday through Friday (excluding holidays).  Mailed payments shall be received at the address indicated on your Account 
Statement, made with a check drawn against the Bank, and accompanied with the payment stub. It will  be also processed the same 
date if the payment is made through a Banco Popular branch in Puerto Rico or Virgin Islands during business hours in cash, or by 
check  drawn  against  the  Bank.  Credit  of  other  payments  that  do  not  meet  these  requirements  may  be  delayed  five  business  days 
during which interests will not accrue. 

MONTHLY ACCOUNT STATEMENT 
The Bank shall mail to you a monthly Account Statement at the end of each billing period. In each Account Statement, the following 
entries  will  be  shown,  as  applicable:  new  balance,  minimum  payment  due,  payment  due  date,  credit  limit,  available  credit,  days  in 
billing cycle, Late Payment Warning, Minimum Payment Warning, previous balance, payments, interest charged, fees charged, other 
credits,  debits,  purchases,  balance  transfers  from  other  institutions,  convenience  checks  and  cash  advances  made  within  the  said 
period, year to date totals for fees and interest charged, interest charge calculation by balance type and the Annual Percentage Rate, 
You  must  notify  the  Bank, in writing,  of any error  in the  Account  Statement,  within  sixty (60)  days,  following  the  date on  which the 
statement was mailed. 

FEES 
Currency Conversion Fee- Transactions made in foreign currency will be billed to you in U.S. dollars.  The currency conversion fees for 
international transactions into a U.S. dollar amount will be performed by MasterCard International ( the “Association”) using: a) A rate 
selected  by  the  applicable  Association  from  the  range  of  rates  available  in  wholesale  currency  markets  for  the  applicable  central 
processing date. The rate may vary from the rate received by the applicable Association, itself, or b)The government mandated rate in 
effect for the applicable central processing date. The Association will apply a Currency Conversion Fee to the transaction amount for 
any credit card transaction made in a foreign currency.  Please refer to the “Fees” section on the table included. 

 
 
 
 
 
 
 
CREDIT LINE AVAILABILITY HOLD 
The Bank may apply the Credit Line Availability Hold to your account if your payment is returned due to insufficient funds or returned 
check.  The Hold will delay for a 10 day period the availability on the credit line for an amount equal to the payment made.  The Hold 
will be in effect on each billing cycle during the following six (6) billing cycles after the payment reversal event.  Such Hold will apply 
regardless of the payment method 

INSTALLMENT PLAN 
Installment Plan enables you to perform a cash advance from your credit line allowing you to determine the repayment period for that 
balance.  The amount requested for the Installment Plan will be subject to your credit line availability. This offer is only  available for 
repayment terms of twelve (12), twenty-four (24), thirty-six (36), forty-eight (48) or sixty (60) months.  The APR, INTEREST CHARGES 
and  Monthly  Minimum  Payment,  of  your  Installment  Plan  may  vary  for  each  billing  cycle.    The  APR  for  your  Installment  Plan  is 
equivalent to your Standard APR for purchases, which is determined by adding the Prime Rate published in the Wall Street Journal to a 
margin. The minimum monthly payment of your Installment Plan will be included in the minimum monthly payment due of your account 
during the term of your offer. You will be responsible to pay the total minimum monthly payment amount as established in your account 
statement.  The INTEREST CHARGES will be calculated based on  the Average Daily Balance.  To pay in full your Installment Plan 
please contact  the  Credit  Card  Service  Department  in  order  to  obtain  the  total  balance owed.    Installment  Plan  is  not  available  for 
accounts  under  Penalty  Rate  and  no  grace  period  applies.    If  you  do  not  comply  with  the  minimum  monthly  payments  of  your 
installment loan, the Late Fee will apply as established in the Credit Cards Agreement.  The unpaid amount of the Installment Plan in 
the  minimum  monthly  payment  requested  will  be  transferred  to  the  Balance  Transfers  section.  If  Penalty  Pricing  applies  to  your 
account, the balance pertaining to Installment Plan will remain subject to the Standard APR for Purchases and the corresponding term 
of Installment Plan will not change.  To request an Installment Plan you may contact customer service at 787-758-0505 or 1-800-981-
9505. 

SKIP A PAYMENT 
We may allow you, from time to time, to skip making the Minimum Payment for certain billing cycles, if pre-established criteria are met.  
If you receive this offer, your account statement will reflect a required Minimum Payment of $0, and you may not have to make the 
Minimum Payment for that billing cycle.  If you decide to skip a payment we will continue to accrue Interest Charges on the unpaid 
balance  of your  account  during  that  period.   However, you  can  always  make  a  payment  for  any  amount.    At  the  end  of  the skip a 
payment  period,  the  terms  of  the  Agreement  regarding  the  required  Minimum  Payment  will  automatically  resume.    If  you  have  an 
Installment Plan and/or an outstanding balance on your Ideal charge card you will have to make the corresponding payment(s), even if 
you accepted the Skip a Payment Offer. 

BENEFITS FOR WEALTH MANAGEMENT CLIENTS OF BANCO POPULAR 
If you are a Wealth Management Customer of Banco Popular, the Card will be issued at a preferential interest rate and to the extent 
applicable a preferential Annual Fee. In case you discontinue your Wealth Management service, these benefits may be eliminated. 

NONCOMPLIANCE 
You  will  be  in  default  if  you do  not  pay  an  installment  on time  or  file  for  bankruptcy.  In  the  event  of  noncompliance,  the  Bank  can 
demand immediate payment of the full balance.  If the Bank has to refer collection of the balance to an attorney, you may have to pay 
legal and attorney’s fees, plus court costs and any other fees allowed by law. 

JOINT ACCOUNTS 
You shall be jointly and severally liable for the total payment of the purchases and cash advances made with your Card. The Bank can 
require the appearance and signature of all the purchasers to process certain instructions or requests which include, but are not limited 
to, a (1) request for increase or reduction in the credit limit, (2) the issuance of additional Card, and (3) change of address to which the 
Account Statement of your Cards is mailed. You agree to release and indemnify the Bank of all responsibility due to damages, losses, 
or expenses that arise as a result of any action executed by the Bank in compliance with the instructions given by any of you. 

DENIAL OF CREDIT 
The Bank is not responsible if a purchase or cash advance on your account is not approved either by the Bank or by a third party, even 
if you have sufficient credit available. The Bank may limit the number of purchases or cash advances which may be approved in one 
day. If the Bank detects unusual or suspicious activity on your account, it may temporarily suspend your credit privileges until it can 
verify that the transaction is legitimate.  

LOST OR STOLEN CARDS 
If the Card is lost or stolen, or if you suspect that someone could be using it without your authorization, you must immediately notify the 
Bank and complete and submit those forms or reports that the Bank requires you to. In the event of loss, theft, or possible unauthorized 
use  of  the  Card,  you  will  not  be  responsible  for  these  fraudulent  transactions.  To  notify  the  Bank  of  the  loss,  theft,  or  possible 
unauthorized use of the Card, please call 787-758-0505 or 1-800-981-9505. 

AMENDMENTS 
You agree that the Bank may change the amounts charged as well as the terms of this Agreement, provided that the Bank gives you 
notice of such changes as required by applicable law or regulation.  If no prior notice is required, the changes will apply from the date of 
the notice.  If you do not agree with the amendments notified and desire to cancel the Agreement, you must notify your decision and 
will continue to pay the balances owed at the interest rate in effect at the time the changes were notified.. 

CANCELLATION 
You may cancel your account at any time by calling the Bank using the following numbers: 787-758-0505 or toll  free at 1-800-981-
9505. The Bank could require written notification and the return of the Card to the Bank, cut in half. The Card is property of the Bank 
and it reserves the right to cancel or suspend your right to use it anytime, with or without cause and without previous notice to you. You 
will  remain  responsible  for  payment  of  any  balance  owed  at  the  time  of  cancellation.  If  at  the  time  of  cancellation  you  have  an 
outstanding balance with a special offer, the regular terms in effect at the time will apply to your outstanding balance. 

 
 
 
 
 
 
 
 
 
 
MISCELLANEOUS PROVISIONS 
Failure on the part of the Bank to exercise any right under this Agreement shall not constitute a waiver of said rights. If any clause or 
part of a clause of this Agreement is declared null by a Court or is left without effect by legal or regulatory provisions, the rest of the 
provisions in this Agreement will not be affected and shall continue to be in effect. You understand and agree that the Account cannot 
be used for commercial purposes. The Bank reserves the right to convert your account, at its discretion, to any other revolving account 
of  the  Bank  at  any  moment,  subject  to  your  meeting  the  established  credit  criteria  for  the  new  account.  You  have  no  obligation  to 
accept this Card, nor will you be held responsible for any charges, unless you choose to accept it. Use of this Card shall constitute its 
acceptance. If you choose not to accept this Card, you should not use it and notify the Bank within fifteen (15) days after receiving this 
Agreement.  To  notify  that  you  do  not  wish  to  accept  this  Card,  please  call  787-758-0505  or  1-800-981-9505.  Life,  disability  or 
involuntary unemployment insurance coverage is optional and is not a requirement or condition to extend credit. This Agreement shall 
be interpreted under the Laws of the Commonwealth of Puerto Rico. 

AWARD PROGRAM INFORMATION  
You  authorize  us  to  report  to  American  Airlines,  AAdvantage®  miles  earned  with  us.  You  also  authorize  us  to  share with  American 
Airlines experiential and transactional information regarding your activity with us. 

You will earn AAdvantage miles for purchases as long as your account is current, in good standing and open the day the transaction is 
registered in your account. The miles are earned multiplying the transaction amount by the earn rate per dollar specific to your card 
product. The total amount of miles per transaction, without decimals, will be considered for the total amount of miles to be reported to 
AAdvantage every account cycle.   

The Bank will report the miles earned with your AAdvantage credit card as long as your account is current and in good standing the day 
of  your  cycle.  The  miles  earned  with  your  credit  card  that  are  not  reported  to  AAdvantage  because  your  account  was  not  in  good 
standing at cycle date, will be reported to AAdvantage in the future if your account becomes current or is re-opened. 

American Airlines reserves the right to change AAdvantage program rules, regulations, travel awards and special offers at any time 
without notice and to end the AAdvantage® program with six months notice. Any such changes may affect your ability to use the 
mileage awards or credits that you have accumulated. Members may not be able to obtain all offered awards at all times or use awards 
for all destinations or on all flights. AAdvantage® travel awards, mileage accrual and special offers are subject to government 
regulations. 
American Airlines is not responsible for products or services offered by other participating companies. For complete details about the 
AAdvantage program, visit www.aa.com/aadvantage 

American Airlines and AAdvantage are marks of American Airlines, Inc. 

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:  BANCO  POPULAR  DE  PUERTO  RICO,  División  de  Productos  de 
Tarjetas, PO Box 363228, San Juan, Puerto Rico 00936-3228 or by e-mail: custserv@bppr.com.   

In your letter, give us 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. 

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 the 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 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.  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.) 

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 at custserv@bppr.com  or in writing at: 

BANCO POPULAR DE PUERTO RICO 
División de Productos de Tarjetas 
PO BOX 363228  
San Juan, Puerto Rico 00936-3228 

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.