FR833282333_BELK REWARDS MASTERCARD 
TC DC 35602E 
6/18

SYNCHRONY BANK 
SECTION I: RATES AND FEES TABLE
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT 
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

25.49%

APR for Cash Advances

29.99%

Paying Interest

Your due date is at least 23 days after the close of each billing cycle. We will not charge 
you  any  interest  on  purchases  if  you  pay  your  entire  balance  by  the  due  date  each 
month. We will begin charging interest on cash advances on the transaction date.

Minimum Interest Charge

If you are charged interest, the charge will be no less than $1.00.

Fees

Transaction Fees

• Cash Advance 

Either $10 or 5% of the amount of each cash advance, whichever is greater.

• Foreign Transaction

3% of each transaction.

Penalty Fees

• Late Payment

Up to $38.

How We Will Calculate Your Balance: We use a method called “daily balance.” See your credit card account agreement 
on the next page for more details.

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SECTION II: RATES, FEES AND PAYMENT INFORMATION 
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT

How Interest is Calculated

Your Interest Rate

We use a daily rate to calculate the interest on the balance on your account each day. The daily rate is the 
applicable APR times 1/365. Interest will be imposed in amounts or at rates not in excess of those permitted 
by applicable law.

The daily rate for purchases is .06984% (APR 25.49%)

The daily rate for cash advances is .08217% (APR 29.99%). 

When We Charge Interest 

Purchases. We charge interest on your purchases from the date you make the purchase until you pay the 
purchase in full. See exceptions below.

How We Calculate Interest

•  We will not charge you interest during a billing cycle on any purchases if:

  1. You had no balance at the start of the billing cycle; OR

  2.  You had a balance at the start of the billing cycle and you paid that balance in full by the due date in that 

billing cycle.

•  We will not charge you interest during a billing cycle on Belk Rewards Flex Pay Plan balances if you pay  

at least:

  1. The Belk Rewards Flex Pay Plan Payment;

  2. The minimum payment on your regular plan balance; and

  3. Any past due amounts by the due date in that billing cycle.

•  We will not charge you interest during a billing cycle on the Table Top/Jewelry Plans if you pay at least:

  1. The minimum payment called for under such Plan;

  2. All other minimum payments on your account; and

  3. Any past due amounts by the due date in that billing cycle.

•  We will credit, as of the start of the billing cycle, any payment you make by the due date that we allocate to 

purchases if:

  1. You had no balance at the start of the previous billing cycle; OR

  2.  You had a balance at the start of the previous billing cycle and you paid that balance in full by the due 

date in the previous billing cycle.

Cash  Advances.  We  charge  interest  on  your  cash  advances,  and  their  related  fees,  from  the  date  you 
make the transaction until you pay them in full. You cannot avoid paying interest on cash advances or their  
related fees.

We figure the interest charge on your account separately for each balance type. We do this by applying the 
daily rate to the daily balance for each day in the billing cycle. A separate daily balance is calculated for the 
following balance types, as applicable: purchases, cash advances and balances subject to different interest 
rates, plans or special promotions. See below for how this works.

1.  How to get the daily balance: We take the starting balance each day, add any new charges and fees, 

and subtract any payments or credits. This gives us the daily balance.

We apply fees to balance types as follows:

(a) late payment fees are treated as new purchases; 

(b) debt cancellation fees are added proportionately to each balance; 

(c) cash advance fees are added to the cash advance balance; and

(d) foreign transaction fees are added to the purchase balance.

2. How to get the daily interest amount: We multiply each daily balance by the daily rate that applies.

3. How to get the starting balance for the next day: We add the daily interest amount in step 2 to the 

daily balance from step 1.

4.  How to get the interest charge for the billing cycle: We add all the daily interest amounts that were 

charged during the billing cycle.

We charge a minimum of $1.00 of interest in any billing cycle in which you owe interest. This charge is added 
proportionately to each balance type. 

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How Fees Work

Cash Advance Fee

Foreign Transaction Fee

We will charge this fee for each cash advance you make. For ATM cash advances this fee is in addition to any 
fee the ATM owner may charge you for use of the ATM.

We will charge this fee for purchases or cash advances you make in currencies other than U.S. dollars and/or in a 
country other than the U.S., whether or not the transaction was in a foreign currency. 

If you make a transaction with your account in a currency other than U.S. dollars, Mastercard will convert the 
transaction  amount  into  U.S.  dollars  using  its  currency  conversion  procedure.  Under  the  currency  conversion 
procedure that Mastercard currently uses, the non-U.S. dollar transaction amount is converted into a U.S. dollar 
amount by multiplying the transaction amount in the non-U.S. dollar currency by a currency conversion rate. The 
currency conversion rate that Mastercard typically uses is either a government-mandated rate, or a wholesale rate 
provided to Mastercard. The currency conversion rate that Mastercard uses for a particular transaction is the rate 
Mastercard uses for the applicable currency when the transaction is processed. This rate may differ from the rate 
in effect when the transaction occurred or when it was posted to your account, and may be higher than the rate 
you could have gotten if you had converted U.S. dollars into the foreign currency.

Late Payment Fee

We will charge this fee if we do not receive the total minimum payment due on your account by 5 p.m. (ET) on the 
due date. This fee is equal to:

1.  $27,  if  you  have  paid  your  total  minimum  payment  due  by  the  due  date  in  each  of  the  prior  six  

billing cycles.

OR

2. $38, if you have failed to pay your total minimum payment due by the due date in any one or more of the 

prior six billing cycles.

The late payment fee will not be more than the total minimum payment that was due.

Minimum Payment Calculation

Your total minimum payment is calculated as follows.

The greater of: 

1.   $27, or $38 (which includes any past due amounts). If you have both a regular balance and a Belk Rewards Flex Pay Plan balance on your account, 

this amount will be allocated proportionately to each balance.

OR

2.  The sum of the following amounts on each of your regular balance and your Belk Rewards Flex Pay Plan balance:

a.  1% of your new balance (excluding any balance associated with a Belk special promotional purchase with a unique payment calculation, such as a 

Table Top/Jewelry Plan purchase) shown on your billing statement plus interest charged in the current billing cycle on such balance; PLUS

b.  Any past due amounts; PLUS

c.  Any late payment fees charged in the current billing cycle; PLUS

d.  Any payment due in connection with a Belk special promotional purchase with a unique payment calculation, such as a Table Top/Jewelry Plans 
purchase. For accounts with a Qualifying Purchase(s) on the Table Top/Jewelry Plans, your minimum monthly payment on such Qualifying Purchase 
will be 1/12 of the highest billed balance of Qualifying Purchases since a Qualifying Purchase was last made on your account, rounded to the next 
highest dollar. Optional credit insurance/debt cancellation charges and any applicable interest charges on Qualifying Purchases are included in the 
Qualifying Purchase balance and must be paid each month. Payments required in connection with a special promotional purchase with a unique 
payment calculation, such as a Table Top/Jewelry Plan purchase, will not be increased, but may be included in the $27 or $38 minimum amount 
otherwise due on your account.

We round up to the next highest whole dollar in figuring your total minimum payment. Your total minimum payment will never be more than your new balance.

Belk Rewards Flex Pay Plan Payment. For accounts with the Belk Rewards Flex Pay Plan, on purchases from Belk locations and on belk.com, each 
month, instead of making the minimum payment as determined above on your Belk Rewards Flex Pay Plan balance (which includes any applicable late 
payment fees), you may elect to make a Belk Rewards Flex Pay Plan Payment which will initially be the greater of $75 or 1/3 of the initial Belk Rewards 
Flex Pay Plan balance, rounded to the next highest dollar, unless and until additional purchases are charged on the Belk Rewards Flex Pay Plan. After 
any new purchases are made on the Belk Rewards Flex Pay Plan, each Belk Rewards Flex Pay Plan Payment will be the greater of $75 or 1/3 of the new 
Belk Rewards Flex Pay Plan balance after such new purchases are added, rounded to the next highest dollar. In each case, any past due amounts on 
the Belk Rewards Flex Pay Plan balance will be added to the Belk Rewards Flex Pay Plan Payment. However, the Belk Rewards Flex Pay Plan Payment 
is the Belk Rewards Flex Pay Plan balance if such balance is less than $75.

SECTION III: STANDARD PROVISIONS  
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT

ABOUT THE CREDIT CARD ACCOUNT AGREEMENT

This Agreement. This is an Agreement between you and Synchrony Bank, 170 Election Road, Suite 125, Draper, UT 84020, for your credit card 
account shown above. By opening or using your account, you agree to the terms of the entire Agreement. The entire Agreement includes the four 
sections of this document and the application you submitted to us in connection with the account. These documents replace any other agreement 
relating to your account that you or we made earlier or at the same time.

Parties To This Agreement. This Agreement applies to each accountholder approved on the account and each of you is responsible for paying the 
full amount due, no matter which one uses the account. We may treat each of you as one accountholder and may refer to each of you as “you” or “your.” 
Synchrony Bank may be referred to as “we,” “us” or “our.”

Changes To This Agreement. We may change, add or delete terms of this Agreement, including interest rates, fees and charges.

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Special Promotions. The terms of this Agreement apply to any special promotion. However, any special promotional terms that are different than the 
terms in this Agreement will be explained on promotional advertising or other disclosures provided to you.

HOW TO USE YOUR ACCOUNT/CARD

Use Of Your Account. You may use your account only for lawful personal, family or household purposes. You may use your account for purchases from  
Belk stores, Belk online locations or other places account may be used or from any merchant that accepts Mastercard credit cards. You may get cash 
advances as further explained below. You may not use your account to pay amounts you owe us on this account or any other account you have with us.

There  are  two  types  of  plan  (“Plans”)  balances  that  may  appear  on  your  account:  regular  plan  balances  (which  may  include  Special  Payment  Plan 
purchases) and Belk Rewards Flex Pay Plan balances, if the Belk Rewards Flex Pay Plan is added to your account. When the Belk Rewards Flex Pay Plan 
is added to your account, any future non-promotional purchases made on your account will automatically be included in the Belk Rewards Flex Pay Plan. 
Any purchases made prior to the Belk Rewards Flex Pay Plan being added to your account will remain in the regular plan balance until paid off. Each month 
you may elect to pay the Belk Rewards Flex Pay Plan Payment or the Belk Rewards Flex Pay Plan balance or the minimum payment otherwise required. 
The way we calculate the minimum payment and interest charges is different for each of these Plans. The other terms and conditions in this Agreement 
will apply to both Plans.

The Table Top Special Payment Plan and Fine Jewelry Special Payment Plan (together the “Table Top/Jewelry Plans”) are two Special Payment Plans that 
you may request be added to your account for Qualifying Purchases as defined herein. Currently, an eligible purchase for the Table Top Special Payment 
Plan is an initial minimum purchase of at least $300.00 of guild products (such as china, crystal, silver or table linens) and any subsequent Table Top 
purchase of $25.00 or more. An eligible purchase for the Fine Jewelry Special Payment Plan is an initial minimum purchase of $500.00 of fine jewelry and 
any subsequent fine jewelry purchase of $150.00 or more. Table Top/Jewelry Plans are available for in-store purchases only. All eligible purchases placed 
on the Table Top/Jewelry Plans at your request are referred to in this Agreement as “Qualifying Purchases.” Although Qualifying Purchases under the Table 
Top/Jewelry Plans are included in your regular balance, the way we calculate the minimum payment and interest charges is different. The other terms and 
conditions in this Agreement will apply to the Table Top/Jewelry Plans.

Cash Advances. We may offer you the opportunity to get a cash advance with convenience checks that we send you. We may not honor a convenience 
check for any reason stated on the check. You can also get cash or make a withdrawal from any institution or ATM that accepts the card or the account. 
In addition, we will treat any purchase of certain cash like items as cash advances. Cash like items include for example, money orders, cashier’s checks, 
traveler’s checks, electronic or wire transfers, foreign currency or other in bank transactions, tax payments, lottery tickets or other legalized gambling 
transactions, court costs, bail bonds and fines.

You Promise To Pay. You promise to pay us for all amounts owed to us under this Agreement. 

Your Responsibility. Each accountholder will receive a card. You may not allow anyone else to use your account. If you do, or if you ask us to send a 
card to someone else, you will be responsible for paying for all charges resulting from their transactions.

Transaction Limits. To prevent fraud, we may limit the number or dollar amount of any type of transactions you can make in any particular amount of 
time. We also may decline any particular charge on your account for any reason.

Credit Limit. You will be assigned a credit limit and cash advance limit on your account that we may increase or decrease from time to time. If we 
approve a transaction that makes you go over your credit limit or your cash advance limit, we do not give up any rights under this Agreement and we 
do not treat it as an increase in either limit. 

HOW AND WHEN TO MAKE PAYMENTS

When Payments Are Due. You must pay at least the total minimum payment due on your account by 5 p.m. (ET) on the due date of each billing cycle. 
Payments received after 5 p.m. (ET) will be credited as of the next day. You may at any time pay, in whole or in part, the total unpaid balance without 
any additional charge for prepayment. If you have a balance subject to interest, earlier payment may reduce the amount of interest you will pay. We may 
delay making credit available on your account in the amount of your payment even though we will credit your payment when we receive it.

Payment Options. You can pay by mail, online or at a Belk store. We may allow you to make payments over the phone but we will charge you a fee to 
make expedited phone payments. Your payment must be made in U.S. dollars by physical or electronic check, money order or a similar instrument from 
a bank located in the United States.

How To Make A Payment. You must follow the instructions for making payments provided on your billing statement. If you do not, credit of your 
payment may be delayed up to five days. Your billing statement also explains how information on your check is used.

Payment Allocation. We will apply the required total minimum payment to balances on your account using any method we choose. Any payment you 
make in excess of the required total minimum payment will be applied to higher APR balances before lower APR balances. Applicable law may require 
or permit us to apply excess payments in a different manner in certain situations, such as when your account has a certain type of special promotion.

INFORMATION ABOUT YOU 

Using And Sharing Your Information. When you applied for an account, you gave us and Belk, Inc. information about yourself that we could share 
with each other. Belk, Inc. will use the information in connection with the credit program and for things like creating and updating its records and offering 
you special benefits. More information about how we use and share information is set forth in the privacy policy for your account. 

Address/Phone Change. You represent that any phone number that you provide to us belongs to you and/or that you are authorized to provide that 
number. You also agree to tell us right away if you change your address or any phone number. 

Consent To Communications. You consent to us, as well as any other owner or servicer of your account, contacting you through any channel of 
communication and for any purpose, as permitted by applicable law. For informational, servicing or collection related communications, you agree that 
we may use the phone numbers that you provide to us to contact your cellular phone or wireless device with text messages, artificial or prerecorded 
voice calls, and calls made by an automatic telephone dialing system. This consent applies even if you are charged for the call under your plan. You are 
responsible for any charges that may be billed to you by your communications carrier when we contact you.

Telephone Monitoring. For quality control, you allow us to listen to and/or record telephone calls between you and us.

IMPORTANT INFORMATION ABOUT YOUR ACCOUNT 

Closing Your Account. You may close your account at any time by sending a letter to the address shown on your billing statement or calling customer 
service. We may close your account at any time, for any reason. If your account is closed, you must stop using it. You must still pay the full amount you 
owe and this Agreement will remain in effect until you do.

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Collection Costs. If we ask an attorney who is not our salaried employee to collect your account, we may charge you our collection costs. These 
include court costs and reasonable attorneys’ fees.

Credit Bureau Reporting. We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults 
on your account may be shown in your credit report. Tell us if you think we reported wrong information about you to a credit bureau. Write to us at  
P.O. Box 965028, Orlando, FL 32896-5028. Tell us what information is wrong and why you think it is wrong. If you have a copy of the credit report that 
includes the wrong information, send us a copy. 

Default. You are in default if you make a late payment, do not follow any other term of this Agreement or become bankrupt or insolvent. If you default 
or upon your death, we may (a) request payment of the full amount due right away, (b) take legal action to collect the amounts owed, and/or (c) take any 
other action allowed. 

Disputed Amounts. The billing rights summary in section IV of this Agreement describes what to do if you think there is a mistake on 
your bill. If you send us correspondence about a disputed amount or payment, you must send it to the address for billing inquiries. We 
do not give up any rights under this Agreement if we accept a payment marked “payment in full” or given with any other conditions  
or limitations.

Unauthorized Use. If your card is lost, stolen or used without your consent, call us immediately at 1-855-752-8046. You will not be liable for unauthorized 
use on your account, but you will be responsible for all use by anyone you give your card to or allow to use your account.

IMPORTANT INFORMATION ABOUT THIS AGREEMENT 

Assignment. We may sell, assign or transfer any or all of our rights or duties under this Agreement or your account, including our rights to payments. 
We  do  not  have  to  give  you  prior  notice  of  such  action.  You  may  not  sell,  assign  or  transfer  any  of  your  rights  or  duties  under  this  Agreement  or   
your account.

Enforceability. If any part of this Agreement is found to be void or unenforceable, all other parts of this Agreement will still apply.

Governing Law. Except as provided in the Resolving a Dispute with Arbitration section, this Agreement and your account are governed by federal law 
and, to the extent state law applies, the laws of Utah without regard to its conflicts of law principles. This Agreement has been accepted by us in Utah.

Waiver. We may give up some of our rights under this Agreement. If we give up any of our rights in one situation, we do not give up the same right in  
another situation.

RESOLVING A DISPUTE WITH ARBITRATION 

PLEASE READ THIS SECTION CAREFULLY. IF YOU DO NOT REJECT IT, THIS SECTION WILL APPLY TO YOUR ACCOUNT, AND MOST 
DISPUTES  BETWEEN  YOU  AND  US  WILL  BE  SUBJECT  TO  INDIVIDUAL  ARBITRATION.  THIS  MEANS  THAT:  (1)  NEITHER  A  COURT 
NOR A JURY WILL RESOLVE ANY SUCH DISPUTE; (2) YOU WILL NOT BE ABLE TO PARTICIPATE IN A CLASS ACTION OR SIMILAR 
PROCEEDING; (3) LESS INFORMATION WILL BE AVAILABLE; AND (4) APPEAL RIGHTS WILL BE LIMITED.

• What claims are subject to arbitration

1.  If either you or we make a demand for arbitration, you and we must arbitrate any dispute or claim between you or any other user of your 

account, and us, our affiliates, agents and/or Belk, Inc., if it relates to your account, except as noted below. 

2.  We will not require you to arbitrate: (1) any individual case in small claims court or your state’s equivalent court, so long as it remains an 
individual case in that court; or (2) a case we file to collect money you owe us. However, if you respond to the collection lawsuit by claiming 
any wrongdoing, we may require you to arbitrate.

3.  Notwithstanding  any  other  language  in  this  section,  only  a  court,  not  an  arbitrator,  will  decide  disputes  about  the  validity,  enforceability, 
coverage or scope of this section or any part thereof (including, without limitation, the next paragraph of this section and/or this sentence). 
However, any dispute or argument that concerns the validity or enforceability of the Agreement as a whole is for the arbitrator, not a court,  
to decide.

• No Class Actions

YOU AGREE NOT TO PARTICIPATE IN A CLASS, REPRESENTATIVE OR PRIVATE ATTORNEY GENERAL ACTION AGAINST US IN 
COURT OR ARBITRATION. ALSO, YOU MAY NOT BRING CLAIMS AGAINST US ON BEHALF OF ANY ACCOUNTHOLDER WHO IS 
NOT AN ACCOUNTHOLDER ON YOUR ACCOUNT, AND YOU AGREE THAT ONLY ACCOUNTHOLDERS ON YOUR ACCOUNT MAY 
BE JOINED IN A SINGLE ARBITRATION WITH ANY CLAIM YOU HAVE. 

If a court determines that this paragraph is not fully enforceable, only this sentence will remain in force and the remainder will be null and void, 
and the court’s determination shall be subject to appeal. This paragraph does not apply to any lawsuit or administrative proceeding filed against 
us by a state or federal government agency even when such agency is seeking relief on behalf of a class of borrowers, including you. This means 
that we will not have the right to compel arbitration of any claim brought by such an agency.

• How to start an arbitration, and the arbitration process

1.  The  party  who  wants  to  arbitrate  must  notify  the  other  party  in  writing.  This  notice  can  be  given  after  the  beginning  of  a  lawsuit  or  in 
papers filed in the lawsuit. Otherwise, your notice must be sent to Synchrony Bank, Legal Operation, P.O. Box 29110, Shawnee Mission,  
KS 66201, ATTN: ARBITRATION DEMAND. The party seeking arbitration must select an arbitration administrator, which can be either the 
American Arbitration Association (AAA), 120 Broadway, Floor 21, New York, NY 10271, www.adr.org, (800) 778-7879, or JAMS, 620 Eighth 
Avenue, 34th Floor, New York, NY 10018, www.jamsadr.com, (800) 352-5267. If neither administrator is able or willing to handle the dispute, 
then the court will appoint an arbitrator. 

2.  If a party files a lawsuit in court asserting claim(s) that are subject to arbitration and the other party files a motion with the court to compel 

arbitration, which is granted, it will be the responsibility of the party asserting the claim(s) to commence the arbitration proceeding. 

3.  The arbitration administrator will appoint the arbitrator and will tell the parties what to do next. The arbitrator must be a lawyer with at least ten 
years of legal experience. Once appointed, the arbitrator must apply the same law and legal principles, consistent with the FAA, that would 
apply in court, but may use different procedural rules. If the administrator’s rules conflict with this Agreement, this Agreement will control. 

4.  The arbitration will take place by phone or at a reasonably convenient location. If you ask us to, we will pay all the fees the administrator or 
arbitrator charges, as long as we believe you are acting in good faith. We will always pay arbitration costs, as well as your legal fees and costs, 
to the extent you prevail on claims you assert against us in an arbitration proceeding which you have commenced.

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• Governing Law for Arbitration

 This Arbitration section of your Agreement is governed by the Federal Arbitration Act (FAA). Utah law shall apply to the extent state law is relevant 
under the FAA. The arbitrator’s decision will be final and binding, except for any appeal right under the FAA. Any court with jurisdiction may enter 
judgment upon the arbitrator’s award.

• How to reject this section

 You may reject this Arbitration section of your Agreement. If you do that, only a court may be used to resolve any dispute or 
claim. To reject this section, you must send us a notice within 60 days after you open your account or we first provided you 
with your right to reject this section. The notice must include your name, address and account number, and must be mailed to 
Synchrony Bank, P.O. Box 965012, Orlando, FL 32896-5012. This is the only way you can reject this section.

SECTION IV: OTHER IMPORTANT INFORMATION 
BELK REWARDS MASTERCARD® ACCOUNT AGREEMENT

This section of the agreement includes state notices, billing rights summary and rewards terms (if applicable) and is not required to be provided as part of the 
credit card agreement posted online or provided to the CFPB.

FR833282333_BELK REWARDS MASTERCARD 
TC DC 35602E 
6/18

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