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Visa Signature Disclosures and Notes | Simmons Bank

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visa signature disclosures and notes

Visa Signature Credit Card Membership Rules
Amended August, 2017

The words “I”, “we”, “me”, “my” and “us” will mean each and all

persons making application for membership in the credit card system

operated by the Bank or persons named as members on the front of

the Card. “Card” means Visa Platinum Rewards or Visa Signature credit

card owned and issued by the Bank. “Bank” means Simmons Bank,

Pine Bluff, Arkansas, U.S.A.

Follow the Rules –

I agree to accept and comply with these membership rules. If I fail to

follow the membership rules, the Bank can cancel my membership and

may demand immediate payment of all amounts I owe. The Bank may

amend the rules from time to time. If the amendment is a significant

change in account terms, I will be given an opportunity to opt-out of

the proposed amendment in accordance with applicable law and

regulations. In the event of an amendment to the rules, I agree to

accept and comply with the amended rules, unless a right to opt out is

granted and I timely exercise such right to opt out of the proposed

amendment to the rules.

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Annual Fee –

None.

Verification of Identity, Age and Creditworthiness –

I agree that the Bank may, and acknowledge that the Bank will, request

information from me and from third parties to verify my identity and

the identity of any other persons authorized to use my Card. Further, I

agree that the Bank may obtain consumer reports about me to

determine my identity, age, eligibility for credit, renewal of credit and

future extensions of credit for as long as this Card membership exists. I

understand and acknowledge that if I am under the age of 21 certain

additional conditions and terms may be applicable to my card account

as required by applicable law and regulations. I agree that I must

maintain satisfactory creditworthiness to continue this Card

membership and any determination by the Bank of unsatisfactory

credit or filing of bankruptcy is grounds for termination of this Card

membership.

Card Usage -

I understand that my Card can be used at designated locations

throughout the world to purchase goods and services, to obtain cash

advances and to transfer funds between accounts I designate. The

Bank is not responsible for the refusal of anyone to honor my Card.

Paper transactions or electronic transactions will not be final until they

are received by the Bank. Transactions are governed by the laws of

Arkansas and the laws of the United States of America. From time to

time the operation of cards issued by the Bank may be suspended in

specified foreign countries or specific regions thereof, due to ongoing

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fraudulent activities involving credit cards. Due to the nature of such

fraudulent activities, the Bank is unable to provide advance notice or

the duration of any such suspension. If I use my Card in a check

guarantee system, I agree to allow the check to be handled as a credit

card cash advance if the check is not paid. I agree not to use my Card

for any type of Internet gambling transaction. Further, I agree not to

use my Card for any unlawful transaction and acknowledge that the

Bank may refuse to honor any transaction determined to be unlawful.

Restricted transactions, involving the acceptance of any credit, funds,

instrument, or other proceeds from another person in connection with

unlawful Internet gambling, are prohibited from being processed

through my Card account. I acknowledge my responsibility to pay for

goods and services obtained through the use of my Card, even if such

good or services were obtained in an unlawful transaction.

Responsibility for Card Use –

I understand that I am responsible for the use of all Cards issued for

use with my membership. I will not allow unauthorized persons to use

my Card.

Notification –

For my own protection and for the protection of the Bank, I agree to

promptly notify the Bank if I discover my Card has been lost or stolen,

or if I suspect the Card has been used without my authorization.

Card Ownership –

I understand as a member and Cardholder that I do not own my Card.

When requested to do so I will surrender my Card to the Bank or to a

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person designated by the Bank. I understand that any or all privileges

to use my Card may be modified or canceled by the Bank at any time

without notice to me.

Promise to Pay –

I promise to pay to the order of Simmons Bank all transactions in

which I have used Bank funds as a result of the use of my Card. If the

funds involve cash advances or extended payment privileges, I also

agree to pay the transaction fees and finance charge as described

below.

I must pay all bills or invoices, including the minimum payment shown

on my monthly statement on time (on or before payment due date)

and in U.S. Dollars. The Bank does not waive its right to collect the full

amount due if I pay late or I pay part of the bill, even if I write the

words “paid in full” (or similar words) on any correspondence to the

Bank.

Available Credit Limit –

The Bank will supply a monthly statement listing the amount and

location of all transactions posted prior to the closing date of the

statement. I agree to limit my transactions so that my balance will stay

within the available credit limit approved for me by the Bank and listed

on the statement. The Bank may refuse to honor transactions that

would cause my account balance to exceed my available credit limit.

My available credit limit will be restored to reflect a payment after the

Bank receives final payment on my check or other payment method.

The Bank may increase or decrease my available credit limit or my

available cash advance credit limit without notice. The Bank will not

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increase my available credit limit without considering my ability to

make the required payments on my Card account. The credit available

for my use may, from time to time, be less than my available credit

limit. My available credit limit will not be increased by the amount of

any credit balance.

If I am under the age of 21, any increase in the credit limit on my Card

account must be approved in writing and joint liability for such

increase assumed by all guarantors, co-signers or joint applicants who

have assumed secondary or joint liability on my Card account.

Billing –

If there is a debit or credit balance of $1.00 or more on my account,

the Bank will mail or deliver a monthly statement to me not less than

21 days prior to the payment due date specified in the statement. I am

responsible for maintaining my current mailing address on file with the

Bank. The Bank may consider me to have received any notice mailed to

me at the current address on the Bank's records.

Billing Errors –

Transactions listed on my statement will be presumed correct unless I

notify the Bank of an error in writing within 60 days of my statement

mailing date. (NOTICE: The procedures for notifying us of errors on

your monthly statement were disclosed upon the opening of your

account and at least annually thereafter. The mailing address to notify

us of a billing error is set forth on your monthly statement.)

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Posting Transactions; New Balance –

Debit transactions from purchases, cash advances, convenience checks

and balance transfers are posted the day they are received. Debit

transactions from purchases are aggregated into my Purchases

Balance. Debit transactions from cash advances and convenience

checks are aggregated into my Disbursed Cash Balance. Debit

transactions from balance transfers are aggregated into my

Transferred Balance. Applicable finance charges will be added to and

included in my Purchases Balance, my Disbursed Cash Balance and my

Transferred Balance on the last day of the statement cycle. My account

balance is the sum of my Purchases Balance, my Disbursed Cash

Balance and my Transferred Balance, which at the end of each

statement cycle is shown as my "New Balance".

Full Payment Option –

Each month I have the option of paying the “New Balance” in full

within 25 days of the cycle closing date. Payment in full (received

within 25 days) avoids additional finance charges on the Purchases

Balance included in the "New Balance" as well as new purchases (but

not on cash advances or convenience checks) made during the next

statement cycle.

Partial Payment Option -

Each month I have the option of paying part of my account balance as

long as my payment is at least equal to the minimum payment shown

on the statement. The minimum payment will be the greater of (i) 1% of

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the New Balance plus all finance charges and late fees assessed during

the billing cycle plus any past due amounts, or (ii) $10.00. I will pay the

total New Balance if it is less than $10.00.

If the Bank has not received a minimum payment by payment due date

(or the end of the next business day if the payment due date is on a

Saturday, Sunday or bank holiday), I will pay a late charge up to

$35.00.

Crediting of Payments –

An amount equal to the minimum payment from the initial payment

during any statement cycle will be applied first to my Purchases

Balance and then to my Disbursed Cash Balance. All additional

payments received during the same statement cycle will be applied to

the balances based upon the applicable interest rate on that balance,

starting with the balances with the highest interest rates. Any part of a

payment complying with the payment instructions on the periodic

statement and received within 25 days of the cycle closing date which

is credited to my Purchases Balance will be credited as of the

beginning of the statement cycle in which received. Any part of a

payment that is credited to my Disbursed Cash Balance, my

Transferred Balance or all of any Payment which is received more than

25 days after the cycle closing date will be credited as of the day

received, if received before 5 p.m. CT by the Bank, otherwise on the

next banking day, provided that any payment paid in person at a

branch of the Bank shall be credited not later than the day received.

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Payments received and accepted by the Bank which do not comply

with the payment instructions on the periodic statement may result in

a delay in crediting the payment to my account.

Electronic Transfer Authority –

Anytime I send the Bank a check for payment on my account, I

authorize the Bank to make a one-time electronic transfer debit from

my bank account for the amount of the check.

Finance Charge –

Finance Charge on cash advances and convenience checks will accrue

from the date of the transaction and continue until the Disbursed Cash

Balance is paid in full. Finance Charge on balance transfers will accrue

from the date of the transaction and continue until the Transferred

Balance is paid in full. Finance charge on purchases will accrue from

the date of the transaction if there was a "New Balance" at the start of

the current statement cycle, or from the first day of the statement

cycle next following the date of the transaction if there was not a "New

Balance" at the start of the current statement cycle.

Date of transaction will be the latter of the transaction date or the first

date of the statement cycle in which the transaction is posted.

A Finance Charge will not be imposed on (i) the Purchases Balance

included within the "New Balance", if payment in full of the “New

Balance” is received within 25 days of the prior statement cycle closing

date or (ii) that part of the Purchases Balance equal to the amount of

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any payment received within 25 days of the prior statement cycle

closing date and credited to the Purchases Balance in accordance with

these rules.

Interest Rates –

Finance charge on the Purchases Balance and the Transferred Balance

where applicable is computed by applying to my average daily balance

for the Purchases Balance and the Transferred Balance, including

unpaid finance charges (as indicated on my monthly statement) a daily

periodic rate equal to the Prime Rate plus 7.00% divided by the

number of days in the year. The Prime Rate is the prime rate published

in the Money Rates column of The Wall Street Journal in effect for the

second business day prior to the beginning of each statement cycle. If

The Wall Street Journal ceases publication or to publish the Prime Rate

as now shown in its Money Rates column, the Bank may use the

prevalent prime rate in the United States as published in any other

newspaper of general circulation, or the Bank may substitute a similar

reference rate at its sole discretion. The finance charge for the

Disbursed Cash Balance is computed by applying to my average daily

Disbursed Cash Balance including unpaid finance charges (as indicated

on the monthly statement) a daily periodic rate equal to the Prime

Rate plus 11.00% divided by the number of days in the year. If a

transaction fee is applied, the annual percentage rate (APR) may be

higher than the periodic rate disclosed above. The maximum interest

rate applicable to my Card is governed by the laws of the United

States of America and the State of Arkansas.

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Other Charges and Collection Fees –

Transaction fees for cash advances (including advances in foreign

currencies) and convenience checks will be 3% of the amount of the

cash advance or check amount (but not less than $4.00). If I request a

photocopy or the original ticket of an item appearing on my monthly

statement, I will pay the Bank the fee assessed to them by Visa U.S.A.,

Inc. for this service. I agree to reimburse the Bank any and all amounts

which it pays to any owner/operator of an automated teller machine

(ATM) or any national, regional or local ATM network used to complete

any transaction for my use of my Card at an ATM not located at an

office or branch of the Bank. I will pay a $10.00 service charge per

payment, if I utilize a service representative of the Bank to obtain

expedited service for any payment. If I request express delivery of my

Card(s) I will pay an express delivery fee equal to the actual costs

incurred by the Bank in making the express delivery. If I make my

payment with a check or other negotiable instrument and it is returned

to the Bank unpaid, I will pay a Return Check Charge of up to $35.00. I

will not be charged two or more penalty fees for a single event or

transaction. If more than one fee may be applicable due to a single

event or transaction, the Bank may impose the highest permissible fee.

If my account is placed with an attorney or another agency for

collection, I will also pay attorney fees, court costs, witness costs

(including transportation and lodging) and any other fees as allowed

by law.

Foreign Currency Transaction Fee –

If I make any purchases in foreign currencies, the Bank and/or Visa

U.S.A. will convert the foreign currencies into U.S. Dollars. Visa will use

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their applicable currency conversion procedures. Currently, the

conversion procedures utilize a rate selected by Visa from the range of

rates available in wholesale currency markets for the applicable central

processing date, which rate may vary from the rate Visa itself receives,

or the government mandated rate in effect for the applicable central

processing date, in each instance, plus or minus any adjustment

determined by the Bank. I agree to pay the Bank the sum in U.S.

Dollars as converted by Visa, plus an additional 2% of the converted

amount attributable to purchases (but not cash advances). The

currency conversion rate used on the conversion date may differ from

the rate in effect on the date I used my Card.

Telephone Monitoring and Recording –

From time to time, we may monitor and/or record telephone calls

regarding your Account with us to assure the quality of our service,

and you agree to any such monitoring or recording. We treat all

customer calls as confidential.

Communicating With You, Consent To Contact By Electronic Other

Means –

You agree that we may contact you as provided in this paragraph. We

may contact you for any lawful reason, including for the collection of

amounts owed to us and for the offering of products or services in

compliance with our Privacy Notice in effect from time to time. No

such contact will be deemed unsolicited. We may contact you at any

address or telephone number (including wireless cellular telephone or

ported landline telephone number) that you may provide to us from

time to time. We may use any means of communication, including, but

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not limited to, postal mail, electronic mail, telephone or other

technology, to reach you. You agree that we may use automatic dialing

and announcing devices which may play recorded messages. We may

also send text messages to your telephone. You may contact us at any

time to ask that we not contact you using any one or more methods or

technologies.

Closing Account –

In the event I close my account, I agree to notify the Bank in writing

and return my Card(s) cut in half. If I close my account, I remain

responsible to pay all amounts I owe to Bank according to the terms of

these card membership rules. If my account is a joint account, either

cardholders may cancel the account, but we will both remain

responsible for any amount owed to the bank.

Amendments –

These rules (including, but not limited to rates and fees) may be

amended by Bank from time to time. I will be notified of any

amendment to the rules not later than the date of my next monthly

statement, unless sooner required by applicable law or regulation. In

addition, if the amendment is a significant change in account terms, I

will be given an opportunity to opt-out of the proposed amendment in

accordance with applicable law and regulations.

If the Bank amends the interest rate specified in the rules while my

account has a promotional interest rate, the amendment will not affect

my account until my promotional interest rate expires.

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