2/27/2017

Merchants Bank Credit Card Application

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Visa® Credit Card Disclosures

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Introductory Period Annual Percentage Rate
(APR) for purchases, balance transfers and
cash advances

Annual Percentage Rate (APR) for purchases
and balance transfers after the introductory
period

A ﬁxed 0% APR for six months from the date account is open 

(1)

Visa® Classic ScoreCard 9.99% 
Visa® Platinum ScoreCard-Merchandise 9.99% 
Visa® Platinum ScoreCard-Cash Back 9.99% 
(2,3)

(2,3) 

(2,3) 

Cash Advance APR

14.99% 

(3)

Method of Computing Balance for Purchases

Average daily balance including new purchases

How to Avoid Paying Interest on Purchases

The account balance is paid in full within 25 days after the statement
closing date 

(3,4)

Minimum Finance Charge

None 

(4)

For Credit Card Tips from the Consumer
Financial Protection Bureau

To learn more about factors to consider when applying for or using a
credit card, visit the website of the Consumer Financial Protection
Bureau at http://www.consumerﬁnance.gov/learnmore
(http://www.consumerﬁnance.gov/learnmore)

FEES

Annual Membership Fee

Transaction Fees  
• Balance Transfer  
• Cash Advance  
• Foreign Transaction

Penalty Fees  
• Late Payment  
• Over-the-Credit Limit  
• Returned Payment

Visa® ScoreCard-Merchandise: None 
Visa® ScoreCard-Cash Back: $30

None 

$3 
1% of the converted transaction amount 

$7.80 or 5%, whichever is greater  
None  

None 

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Other Fees

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Merchants Bank Credit Card Application

Replacement Card Fee: $10 if card is replaced more than once in any
12 month period  
Expedited Card Delivery Fee: $20 

These Account Terms are true as of 11/1/16. Terms are subject to change. Should you have any questions regarding changes after printing
date, please contact us.

How We Will Calculate Your Balance: We use a method called “average daily balance”, including new purchases.

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

(1) INTRODUCTORY INTEREST RATE (for new purchases, balance transfers and cash advances) — From the account-opening date, the introductory interest rate will be 0% APR FIXED
FOR SIX MONTHS. Thereafter the rate will be the APR disclosed in the above “ACCOUNT TERMS" for the type of Visa credit card you obtain, based on the terms and conditions in the
application. See full details of Account conditions and terms in the Bank Credit Card Agreement (“Agreement”) provided separately from the application and/or credit card at account
opening.

(2) Visa ®  Classic ScoreCard, Visa Platinum ScoreCard-Merchandise and Visa Platinum ScoreCard-Cash Back are subject to a F/C of .83%, which is equal to an APR of 9.99%.

(3) WHEN INTEREST RATES BEGIN TO ACCRUE. All cash advances are subject to a FINANCE CHARGE from the date of the cash advance. 

(4)  How We Will Calculate Your Balance — Purchases are subject to a ﬁnance charge from the date they are posted to the account; however, no interest is imposed on purchases if the
account balance is paid in full within 25 days after the statement closing date. If you elect not to pay the entire new balance shown on your previous monthly statement within that
25-day period, a ﬁnance charge will be imposed on the unpaid average daily balance of such Credit Purchases from the previous statement closing date and on new Credit Purchases
from the date of posting to your account during the current billing cycle, and will continue to accrue until the closing date of the billing cycle preceding the date on which the entire
new balance is paid in full or until the date of payment if more than 25 days from the closing date. The ﬁnance charge for a billing cycle is computed by applying the monthly periodic
rate to the average daily balance of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each
daily balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new Credit Purchases posted
to your account, and subtracting any payments as received or credits as posted to your account, but excluding any unpaid ﬁnance charges.

(5) ScoreCard(SM) Bonus Point Program 

Complete ScoreCard Bonus Point Program rules will be sent with your ﬁrst statement. Rewards begin to accumulate after you have received and activated your new card. Points accrued
will expire ﬁve years after they are earned. March 31 is the expiration date for points not redeemed within the previous ﬁve year period. For example, if a purchase is made November
11, 2015, the points will not expire until March 31, 2021.

Changes: We may add, change, or delete any of the terms of your account and the corresponding Credit Card Agreement (including, but not limited to, Annual Percentage Rate and
other signiﬁcant changes) in accordance with the agreement and applicable laws.  

Important Information About Opening an Account

To help the government ﬁght the funding of terrorism and money laundering activities, Federal law requires all ﬁnancial institutions to
obtain, verify and record information that identiﬁes each person who opens an account.

When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We
may ask to see your driver's license or other identifying documents. We do not pull a credit report as part of our deposit account opening
process. A credit report will only be pulled if you complete a separate application for a credit product.

* What state do you currently reside in?

Minnesota

* Which bank location do/would you frequent most?

please select

* Do you intend to apply for Individual or Joint credit?

Individual Credit 

Joint Credit

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