Merrick Bank Visa® or MasterCard® Cardholder Agreement
THIS AGREEMENT CONTAINS AN ARBITRATION CLAUSE AND A CLASS ACTION WAIVER. PLEASE SEE THE  
“AGREEMENT TO ARBITRATE DISPUTES AND CLASS ACTION WAIVER” SECTION BELOW FOR ADDITIONAL DETAILS.

 G-17854
01/20

1.  Welcome to Merrick Bank and to Your Card Agreement 

1

17.  Additional Deposit Account and Security Agreement Disclosures 

2.  Your Promise to Pay 

1-2

18.  Third-Party Features, Service or Benefits 

3.  How to Make Payments and How We Apply Them 

4.  You Must Make Your Minimum Payments On Time 

5.  How Interest Is Calculated 

6.  About Periodic Rates (APRs and DPRs) 

7.  Paying Interest 

8.  About Other Interest Charges and Fees 

9.  About Annual Fees 

10.  About the Credit Limits on the Account 

11.  Foreign Currency Transactions 

2

2

2

19.  You Must Read Your Billing Statement Carefully as Soon as You Receive It 

20.  Protecting the Account From Fraud 

21.  Your Billing Rights Under the Fair Credit Billing Act 

2-3

22.  How We May Contact You to Discuss the Account 

3

3

3

3

3

23.  Where We Are and How You May Contact Us 

24.  Agreement to Arbitrate Disputes and Class Action Waiver 

25.  Third-Party Legal Process Against the Account or the Deposit Account 

26.  Utah and Federal Law Apply to the Account 

27.  Jurisdiction, Venue and Service of Process 

12.  What Purchases and Cash Advances Are Not Allowed 

3-4

28.  We May Assign the Agreement but You May Not 

13.  Closing the Account 

14.  About Excess Payments and Credits 

15.  About Credit Reporting 

16.  The Deposit Account and Security Agreement (If Applicable) 

4

4

4

4

29.  We Do Not Waive Our Rights Through Inaction or Delay 

30.  Severability 

31.  The Agreement Is an Integrated Agreement 

32.  Glossary and Definitions 

4

4-5

5

5

5

5-6

6

6-7

7

7

7

7

7-8

8

8

8

1. Welcome to Merrick Bank and 
to Your Card Agreement. This 
document and the Pricing Appendix 
that came with your Card are your 
Agreement with us. Please keep this 
Agreement (including the Pricing 
Appendix as well as any future 
change-in-terms notices you may 
receive) in a safe place with your 
other important papers. The words 
used in this Agreement are defined 
and explained in the “Glossary and 
Definitions” section below. You 
may make Purchases anywhere 
the Card is honored, so long as 
you do not exceed your available 
credit limit and are otherwise in 
compliance with this Agreement. 
The Bank is not responsible for 
the failure of any merchant or any 
other party to accept or honor 
your Card. Unless applicable law 
otherwise requires, if you make a 
Purchase on your Account and the 
merchant discloses a policy such 
as “no returns,” “no refund,” “no 
return or credit without receipt,” 
“as is,” “store credit only,” “all sales 
final” or similar statements, you 
will be bound by the merchant’s 
policy. You must acquaint yourself 
with the merchant’s return policies 
before you make your Purchase. 
For repeat, recurring or automatic 
Purchases, we may rely, to the 
maximum degree permitted 
by law, upon any reasonable 
proof presented to us by the 
merchant that you authorized such 
purchases and authorized being 

billed repeatedly for them. If you 
have authorized repeat, recurring or 
automatic Purchases and we replace 
your Card due to its being lost, stolen 
or at risk for fraud, we may, at our sole 
discretion, notify the recipients of your 
recurring or automatic Purchases, but 
you agree to notify the recipients of 
your recurring or automatic Purchases 
of the change in your account number.
You may obtain Cash Advances from 
many locations where the MasterCard 
or Visa logo is displayed (depending 
on whether your Card is a MasterCard 
or a Visa card) or from an ATM that 
displays such a logo, so long as 
you do not exceed your available 
credit limit or any daily Purchase 
limits, or exceed your available Cash 
Advance credit limit or any daily Cash 
Advance limits, and are otherwise in 
compliance with this Agreement.
BY USING THE CARD TO MAKE A 
PURCHASE OR TO OBTAIN A CASH 
ADVANCE, OR BY MAKING  
A PAYMENT ON THE ACCOUNT, YOU 
AGREE TO ALL OF THE TERMS AND 
CONDITIONS OF THIS AGREEMENT, 
INCLUDING THE PROVISION BELOW 
RELATING TO FUTURE CHANGES TO 
THIS AGREEMENT OR THE  
PRICING APPENDIX.
We may change the terms of this 
Agreement or the Pricing Appendix at 
any time. We may change or remove 
any of the terms and conditions 
of, or add new terms or conditions 
to, this Agreement or the Pricing 
Appendix, including without limitation 

by increasing existing fees, margins 
and rates, and adding new fees and 
charges, whether or not the Account 
has been cancelled, suspended or 
closed to new Account transactions. 
To the extent allowed by applicable 
law, any changes will apply to your 
entire Account Balance even though 
Purchases, Cash Advances or other 
transactions occurring prior to the 
date of the change may be part of the 
Account Balance.
At any time, you may request that we 
mail you a copy of this Agreement 
in its then-current form, or you may 
review it on the Internet at www.
merrickbank.com/agreements. If you 
are visually impaired, please call us at 
(800) 204-5936 for assistance.
Military Borrowers. 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). If you are 
a member of the Armed Forces, or 
a dependent of such member, you 
may call 1-833-234-0758 toll free 
to receive disclosures about your 
Account over the telephone.
2. Your Promise to Pay. You promise 
to pay, according to the terms of this 
Agreement, all amounts owing under 
your Account and this Agreement 
including, without limitation, the 
total amount of all Purchases, Cash 
Advances, interest charges and all 
other charges and fees described in 
this Agreement. If you have requested 
a Card for use by someone else, you 
will be responsible for that person’s 
transactions, including transactions 
for which you may not have intended 
to be liable. Although we will send 
you Billing Statements, if you do not 
receive a Billing Statement you still 
must pay your Minimum Payment by 
the Payment Due Date.  If you do not 
receive a Billing Statement, you must 
call us at (800) 204-5936 to find out 
your Payment Due Date and Minimum 
Payment, and to advise us of your 
correct mailing address.  We will only 
mail Billing Statements to one mailing 
address. With your authorization, 
we may also provide your Billing 
Statements via email or other 
electronic means.  You must notify us 
immediately of any change to your 
mailing or email address. We will only 
send Billing Statements to you, and 
except under certain circumstances 
determined by us, not to any third-
party. No matter where we send Billing 
1

Statements and whether or not you 
receive them, your obligation to make 
timely Minimum Payments and to 
pay all other amounts owed on the 
Account is not excused.
We may accept late or partial 
payments without losing any of our 
rights under this Agreement. You 
agree not to send us partial payments 
marked “paid in full,” “without 
recourse,” or similar language. If you 
send such a payment, we may accept 
it without losing any of our rights 
under this Agreement.
If you do not pay what you owe 
when it is due, or if you otherwise 
violate this Agreement (including in 
connection with the Deposit Account 
or the Bank’s security interest therein), 
then in addition to all charges, interest, 
fees and other amounts described in 
this Agreement you also must pay us, 
or our assignee, all collection costs, 
legal expenses or other expenses 
resulting from any and all efforts to 
collect what is owed on the Account 
or as a result of use of the Card, or 
otherwise to respond to your violation 
of this Agreement. This includes all 
attorneys’ fees and arbitration or court 
costs except as otherwise set forth 
in this Agreement. You agree to pay 
reasonable attorneys’ fees even if the 
attorney is a salaried employee of the 
Bank or its assignee.
3. How to Make Payments and How 
We Apply Them. You must pay us 
in U.S. Dollars, with a check, draft or 
money order drawn on a United States 
bank or the United States Postal 
Service, or through an automated 
clearing house acceptable to us in our 
sole discretion. 
Payments received by our payment 
processor with the payment coupon, 
from the postal or other delivery 
service by 5:00 p.m. local time at 
the payment address indicated on 
the most recent Billing Statement 
will be processed and credited to 
your Account as of that date, even if 
your payment instrument includes a 
different date. If you send payments to 
any other address or fail to include the 
payment coupon, or if there are errors 
or delays at the postal service or other 
transmission or delivery services, the 
payment may be lost or there may 
be a delay in crediting the payment. 
Either event could result in a Late 
Payment Fee and/or additional interest 
charges. Neither the postal service 
nor any other money transmitter or 
delivery service is Merrick Bank’s 
agent, and if you use the postal 
service or any other third party to 

2

deliver your payment, you assume 
the risk that those services lose your 
payment or deliver it late. Please call 
us at (800) 204-5936 or go to  
www.merrickbank.com/payments  
if you do not know where to send  
your payment.
Payments in excess of the Minimum 
Payment shown on the most recent 
Billing Statement will be applied first 
to the highest Annual Percentage Rate 
(APR) balance. In general, amounts 
up to the Minimum Payment will be 
applied in the manner most favorable 
to us, which usually will be to lower 
APR balances (including any zero APR 
balances) before higher APR balances.
We process electronic check 
conversions. When you provide a 
check as payment, you authorize us 
to use information from your check 
to make a one-time electronic funds 
transfer (EFT) from your account. 
In certain circumstances, such as 
for technical or processing reasons, 
we may process your payment as a 
check transaction. An EFT likely will 
clear more quickly than a payment 
processed as a check, and therefore 
your checking account may be debited 
the same day we receive your check. 
Please be sure you maintain sufficient 
funds in your checking account when 
you send us a check. If there are 
not sufficient funds in your checking 
account and your bank returns the 
item to us unpaid, you must pay us a 
Returned Payment Fee. With electronic 
check conversion, you will not receive 
your cancelled check back, but your 
checking account statement should 
provide sufficient information about 
the EFT.
You may use your telephone to make 
a same day payment on your Account 
through our telephone payment 
system by calling (800)-204-5936.  By 
using this system to make a payment, 
you are authorizing us to initiate, 
via the Automated Clearing House 
payment network, a single debit entry 
to your depository bank account in 
the amount specified during the call.  
For verification purposes, the last four 
digits of your social security number 
will be utilized as your PIN.
4. You Must Make Your Minimum 
Payments On Time. Each Billing 
Cycle you must pay at least the 
Minimum Payment shown on the 
Billing Statement by the Payment Due 
Date. The Minimum Payment will be 
calculated as described in the Pricing 
Appendix. You may also choose to pay 
any amount in excess of the Minimum 
Payment, up to your New Balance in 

full, in any Billing Cycle. Even if you 
pay more than the Minimum Payment 
in one Billing Cycle, you still must pay 
the full Minimum Payment in future 
Billing Cycles until the entire Account 
Balance is paid. Credits applied for 
reversals of Purchases (for example, 
merchant credits for returned or 
defective goods) or for reversals of 
fees or interest charges do not count 
toward your Minimum Payment. For 
example, if the Minimum Payment 
is $50, you still must pay us the full 
$50 by the Payment Due Date even 
if you return $50 worth of goods to a 
merchant where you used the Card. If 
the Minimum Payment is not received 
on time, you agree to pay a Late 
Payment Fee.
If you are in Default, we reserve 
the right to (1) refuse to honor any 
further Purchases or Cash Advances, 
(2) reduce your credit limit, (3) 
require payment of a portion of your 
outstanding balance greater than 
the Minimum Payment, (4) declare 
the entire balance of your Account 
immediately due and payable, and/
or (5) exercise such other and further 
of our rights under this Agreement 
or applicable law as we in our sole 
discretion deem appropriate.
5. How Interest Is Calculated. We 
use the Average Daily Balance method 
(including new transactions) to 
calculate interest on your Account.  
The Average Daily Balances for 
Purchases and Cash Advances are 
calculated separately.
To calculate the Average Daily 
Balances, we start with the beginning 
balance for each day in the Billing 
Cycle. For Purchases, the beginning 
balance includes Purchases, 
Annual Fees (including Additional 
Card Fees), Late Payment Fees, 
Returned Payment Fees, Over Limit 
Fees, Copying Charges, Currency 
Conversion Charges related to 
Purchases, Expedited Phone Payment 
Fees, the Account Set-up Fee, Fees 
for Other Services and billed but 
unpaid interest on all such amounts. 
For Cash Advances, the beginning 
balance includes Cash Advances, 
Cash Advance Transaction Fees, 
and billed but unpaid interest on all 
such amounts. We then add any new 
charges and subtract any payments 
or credits. This gives us the daily 
balance for each day, except that 
if the daily balance is negative, we 
treat it as zero. We then add up all of 
the daily balances for each balance 
and divide by the number of days in 
the Billing Cycle. This gives us the 

Average Daily Balance for each 
balance. The interest charged for 
each balance equals the Average 
Daily Balance for that balance times 
the applicable Daily Periodic Rate 
(DPR) times the number of days in 
the Billing Cycle. The results are 
then added together to determine 
the total interest charge for the 
Billing Cycle. To the extent interest 
comprises any part of your Average 
Daily Balance, compounding of 
interest will occur.
Charges are added as of the date 
of the transaction. If a transaction 
occurs in one Billing Cycle but is  
not debited or credited to your 
Account until the next Billing 
Cycle, the transaction is added 
or subtracted on the first day 
of the Billing Cycle in which the 
transaction is debited or credited 
to your Account. If the DPR for 
Purchases or Cash Advances 
changes during a Billing Cycle, the 
new DPR will take effect as of the 
first day of the Billing Cycle.
6. About Periodic Rates (APRs 
and DPRs). If your Account has an 
Introductory APR for Purchases or 
Cash Advances, the Introductory 
APR and the corresponding 
Introductory Daily Periodic Rate will 
be shown in the “Interest Rates and 
Interest Charges” section of the 
Pricing Appendix. Introductory APRs 
are fixed rates and are not based 
on movements in the Prime Rate. 
Introductory APRs will be in effect 
until the Introductory Period End 
Date shown in the “Interest Rates 
and Interest Charges” section of the 
Pricing Appendix.
If your Account does not have an 
Introductory APR for Purchases 
or Cash Advances, or after the 
Introductory Period End Date, your 
APRs and DPRs will vary. The APR 
for Purchases and the APR for Cash 
Advances will be determined by 
adding, as applicable, the Purchase 
Margin or the Cash Advance 
Margin shown in the “Variable 
Rate Information” section of the 
Pricing Appendix to the Prime 
Rate. The DPR is 1/365th of the 
corresponding APR. However, the 
APRs for Purchases and Cash 
Advances will never be greater 
than the lesser of the applicable 
Purchase or Cash Advance APR 
Cap shown in the “Variable Rate 
Information” section of the Pricing 
Appendix or the maximum rate 
permitted by applicable law. 
The “Interest Rates and Interest 
Charges” section of the Pricing 

Appendix includes the APRs and the 
“Daily Periodic Rates” section of the 
Pricing Appendix includes DPRs for 
Purchases and Cash Advances as 
of the date indicated in the Pricing 
Appendix. Any changes in your 
APRs and DPRs resulting from a 
change in the Prime Rate during a 
Billing Cycle will take effect as of 
the first day of that Billing Cycle. 
An increase in the Prime Rate may 
result in an increase in the amount 
of interest charged, the Minimum 
Payment or both.
7. Paying Interest. Your Payment 
Due Date is at least 25 days after 
the close of each Billing Cycle. We 
will not charge you any interest on 
Purchases if you pay your entire 
New Balance by the Payment Due 
Date each month. We will begin 
charging interest on Cash Advances 
on the transaction date. If you carry 
a balance from month to month you 
may see interest charged on your 
next statement even if you pay the 
New Balance in full on time and 
make no new charges. This interest 
is called “trailing interest.” Trailing 
interest is the interest charged (if 
any) on your balance from your last 
statement date to the date you paid 
in full.
8. About Other Interest Charges 
and Fees. You agree to pay the 
following additional interest  
charges and fees (if applicable to 
your Account) in the amounts set 
forth in the “Fees” section of the 
Pricing Appendix.
a. Account Set-up Fee. If applicable, 
an Account Set-up Fee will be 
charged to your Account when the 
Account is opened.
b. Annual Fee. If the Pricing 
Appendix includes an Annual Fee, 
your Account will be charged an 
Annual Fee as described in the 
“About Annual Fees” section of  
this Agreement and you agree to 
pay the Annual Fee whether or not 
you activate your Card.
c. Cash Advance Transaction Fee. A 
Cash Advance Transaction Fee will 
be charged to your Account each 
time you obtain a Cash Advance.
d. Copying Fee. Your Account will 
be charged $2 for each page of any 
copy of a Billing Statement, sales 
slip or payment copy that the Bank 
produces at your request, unless 
the copies are produced to resolve 
a reported billing error under the 
Fair Credit Billing Act.
e. Foreign Currency Transaction 
Fee. For each Purchase or Cash 

Advance made in a foreign currency, 
we add an additional fee of 2% of 
the amount of the Purchase or Cash 
Advance after its conversion into U.S. 
Dollars, as described in the “Foreign 
Currency Transactions” section of this 
Agreement; however, if the Purchase 
or Cash Advance is reversed, we do 
not reverse the Foreign Currency 
Transaction Fee charged on the 
Purchase or Cash Advance.
f. Late Payment Fee. Your Account will 
be charged a Late Payment Fee if you 
have not paid the Minimum Payment 
on a Billing Statement by the Payment 
Due Date.
g. Minimum Interest Charge. In any 
Billing Cycle in which your Account 
has a balance, you were not charged a 
Cash Advance Transaction Fee and the 
total interest charged for that Billing 
Cycle would otherwise be less than 
$1, a Minimum Interest Charge will be 
charged to your Account.
h. Expedited Phone Payment Fee. 
If you wish expedited service for 
transmittal of a payment, you 
may request to make a phone 
payment using a customer service 
representative for which you will be 
charged a fee. The amount of the fee 
will be disclosed prior to fulfilling your 
request.
i. Returned Payment Fee.  A Returned 
Payment Fee will be charged to your 
Account if for any reason a check, 
draft or similar instrument is not 
honored or cannot be processed, or if 
an EFT or electronic debit is returned 
unpaid or cannot be processed, even 
if the item is later honored or paid 
following resubmission. Subject to 
applicable law and network rules, 
you authorize us to resubmit returned 
payments (including without limitation 
through electronic collection methods) 
at our discretion.
j. Fees for Other Services. We may 
charge other fees to your Account for 
services associated with your Account 
that you request. You may decline the 
services before the fees are charged.
k. Over Limit Fee. If the law permits, 
we will charge an Over Limit Fee as 
set forth in the Pricing Appendix. We 
are not obligated to approve any over 
the limit transaction. If any amount set 
forth in the Pricing Appendix exceeds 
the maximum permitted by applicable 
law, we will follow the law as to such 
fee or charge.
9. About Annual Fees. We charge 
an Annual Fee when you open the 
Account whether or not you activate 
or use your Card. You may cancel your 

Account within 90 days of receiving 
the Card by calling (800) 204-5936 or 
by writing to us at Merrick Bank, P.O. 
Box 9201, Old Bethpage, NY 11804-
9001. If we receive your request to 
cancel within 90 days of your receipt 
of the Card, you will not be responsible 
for the Annual Fee if you have not 
previously used the Card or made a 
payment on the Account. Otherwise, 
you must pay the Annual Fee.
If you obtain an additional Card, the 
amount of the Annual Fee will be 
increased by the Additional Card Fee 
described in the Pricing Appendix. 
Both the Annual Fee and the Additional 
Card Fee must be paid for each year 
(or part thereof) when the Account 
is open, whether or not the Card is 
used during the year and whether or 
not there is a balance on the Card. 
Payment of the Annual Fee does not 
assure you of good standing on the 
Account, does not affect our right to 
change the terms of this Agreement 
and does not affect our right to decline 
authorization of any Purchase or Cash 
Advance. If the Account is closed but 
with an unpaid balance the Annual 
Fee must be paid for each year (or 
part thereof) when there is a balance 
greater than zero on the Account.
After the first year you have the Card, 
we may in our discretion choose to bill 
the Annual Fee and the Additional Card 
Fee in 12 monthly installments.
10. About the Credit Limits on the 
Account. The Bank has established a 
total credit limit and a Cash Advance 
credit limit on the Account. Your Cash 
Advance credit limit is a portion of 
your total credit limit. Any transaction 
that might exceed one of these credit 
limits may be declined at our sole 
discretion. We may also opt, in our 
sole discretion, to approve or decline 
any portion of a requested transaction. 
These credit limits may be reduced 
at any time without warning or notice 
to you, at any time, during any Billing 
Cycle. When you opened the Account, 
if you accepted an offer to increase 
your credit line, you acknowledge 
that the increase is contingent on 
your making at least your Minimum 
Payment on time each month for the 
first seven months your account is 
open and agree that if you fail to do 
so, we may not increase your  
credit line.
Subject to our review and approval, 
you may, if your Account is secured or 
partially secured, increase your credit 
limit by making additional deposits 
into the Deposit Account. Any such 
additional deposits must be at least 

$50, and without our express written 
approval, the balance in the Deposit 
Account may not exceed $5,000.
Certain transactions or combinations 
of transactions may cause your 
Account Balance or your Cash 
Advance balance to reach or 
exceed credit limits, and as a result 
authorization for certain Purchases or 
Cash Advances may be declined. For 
example, even if we have credited a 
payment or posted some other credit 
to the Account, we still may in our 
sole discretion decline to permit use 
of a portion of the credit limit equal to 
the amount of the payment or credit 
for up to eleven days from the date 
credited or posted. Additionally, certain 
merchants (such as hotels or rental 
car agencies) as a matter of policy will 
process charges in a manner resulting 
in a temporary restriction of the use 
of a portion of the credit limit that is 
substantially greater than the actual 
amount of the charge. Please inquire 
of the merchant before using the Card 
to determine whether the merchant 
follows such a policy.
11. Foreign Currency Transactions. 
Purchases and Cash Advances made 
in currencies other than U.S. Dollars 
will be converted to U.S. Dollars under 
the operating regulations or foreign 
currency conversion procedures 
established by Visa or MasterCard 
then in effect. Conversion to U.S. 
Dollars may occur several days or 
weeks after the transaction; therefore, 
the currency conversion rate may be 
significantly different from the rate in 
effect at the time of the transaction. 
We do not determine the currency 
conversion rate that is used, and it 
may be significantly less favorable to 
you than a rate you could obtain in a 
cash transaction. You agree to pay the 
converted amount.
12. What Purchases and Cash 
Advances Are Not Allowed. We 
may, in our sole discretion, deny 
authorization for any requested 
Purchase or Cash Advance. You may 
not use the Account or the Card for 
business or commercial purposes; the 
Account and the Card may be used for 
consumer purposes only.
You may not use the Account or 
the Card to make payments on the 
Account or anyone else’s account  
with us.
You may not use the Account or the 
Card for anything we deem unlawful 
gambling activity.
You may not use the Account or the 
Card to purchase illegal items, to 
commit fraud, to harm anyone or to 

3

engage in any other activity prohibited 
by law.
You may not use the Account or the 
Card to make Purchases that exceed 
your available credit limit.
You may not use the Account or the 
Card to obtain Cash Advances that 
exceed your available credit limit or 
available Cash Advance credit limit.
You may not use the Card, make 
any Purchases or request any Cash 
Advances when you or any other 
person obligated on the Account is 
insolvent or after a bankruptcy petition 
has been filed. If you use or permit 
someone else to use the Account or 
the Card for a prohibited, improper 
or unlawful purpose, or use or permit 
use of the Account or the Card at a 
time when such use is not permitted, 
you will be responsible for all charges 
relating to such use, to the maximum 
degree permissible by law. You also 
will be responsible for all additional 
amounts or expenses the Bank, Visa 
or MasterCard might pay as a result 
of such use, such as if the Bank, Visa 
or MasterCard is sued in regard to 
your use of the Account or the Card. 
It is your responsibility to determine 
whether your transactions or those 
that you permit someone else to 
make are lawful. The Bank, Visa and 
MasterCard are not responsible, either 
separately or together, for determining 
the legality of any transaction.
13. Closing the Account. We may 
close the Account at any time for any 
reason (or no reason) and without 
prior notice. We may close the Account 
for inactivity. You may close the 
Account at any time. If the Account 
is closed, we will not reopen it. 
Authorized users of the Account other 
than you may not close the Account. 
All amounts due on the Account 
pursuant to this Agreement must be 
paid, even if the Account is closed 
(no matter by whom) or charging 
privileges have been reduced, 
restricted or suspended. We may 
suspend charging privileges at any 
time and for any reason (or no reason) 
without warning or notice to you. This 
may, for example, occur if you fail 
to comply with any provision of the 
Agreement, if we in our sole discretion 
believe our likelihood of being repaid 
is diminished or impaired, or if overall 
credit market conditions make it 
infeasible or more costly to extend 
credit to you.
In determining your continuing 
creditworthiness, the Bank, in its 
discretion, may consider, among 
other things, the total amount of debt 

4

you are carrying compared to your 
resources or any other of your credit 
characteristics, regardless of your 
performance on the Account.
14. About Excess Payments and 
Credits. If payments and credits 
posted to the Account exceed what 
you owe, you will have a credit 
balance with us, which may be offset 
against future Purchases or Cash 
Advances. If a credit balance persists, 
we will refund the credit balance 
within the time frame required by 
applicable law. If we are unable to 
locate you, any credit balance in your 
Account will be escheated pursuant to 
applicable law.
15. About Credit Reporting. You 
authorize us to request consumer 
reports (also known as credit reports) 
including periodic updates about you, 
to make whatever credit investigations 
we deem appropriate, to obtain 
and exchange any information we 
may receive from consumer reports 
and other sources and to use such 
information for any purpose (including 
to reduce credit limits, to restrict or 
suspend charging privileges or to 
close the Account). You also authorize 
us to furnish information concerning 
your Account and your performance 
under this Agreement to consumer 
reporting agencies (credit bureaus) or 
to others, but you acknowledge that 
we are under no duty to do so. If you 
believe information we have furnished 
about your Account to a consumer 
reporting agency is inaccurate, 
you should contact the appropriate 
reporting agency to request that it 
investigate the possible inaccuracy. 
You may also write to us at Merrick 
Bank, P.O. Box 9201, Old Bethpage, NY 
11804-9001 and identify the specific 
information you believe is inaccurate. 
WE MAY REPORT INFORMATION 
ABOUT YOUR ACCOUNT TO CREDIT 
BUREAUS. LATE PAYMENTS, MISSED 
PAYMENTS, OR OTHER DEFAULTS  
ON YOUR ACCOUNT MAY BE 
REFLECTED IN YOUR CREDIT REPORT 
AND MAY NEGATIVELY IMPACT YOUR 
CREDIT SCORE.
16. The Deposit Account and 
Security Agreement (If Applicable). 
If the Account was approved on 
condition of its being secured or 
partially secured, the following 
rules apply: (i) you agree to create 
a Deposit Account, which you shall 
maintain with us and cause to remain 
unencumbered, except for the security 
interest granted to the Bank pursuant 
to this Agreement (for example, you 
shall not allow the Deposit Account to 
become subject to any nonconsensual 

lien, judgment, attachment or 
execution); and (ii) we do not allow 
any withdrawal from the Deposit 
Account until the Account is closed 
and any outstanding Account balance 
is paid in full.
YOU HEREBY GRANT TO THE BANK A 
FIRST PRIORITY SECURITY INTEREST 
IN THE DEPOSIT ACCOUNT, ANY 
ADDITIONS TO THE DEPOSIT ACCOUNT 
AND ANY PROCEEDS OF THE DEPOSIT 
ACCOUNT TO SECURE PERFORMANCE 
BY YOU OF ALL OF YOUR OBLIGATIONS 
WITH RESPECT TO THE ACCOUNT 
AND UNDER THIS AGREEMENT, 
INCLUDING, WITHOUT LIMITATION, THE 
OBLIGATION TO MAKE PAYMENTS TO 
THE BANK AS DESCRIBED HEREIN.
If the Account is closed by you or us 
for any reason, you authorize us to 
apply all or any part of the funds in 
the Deposit Account to reduce the 
unpaid balance on the Account and 
any other outstanding obligation 
owed to the Bank. The application of 
any funds from your Deposit Account 
will be a credit adjustment to your 
Account balance and will not be 
treated as a payment. If we elect not 
to, or otherwise fail to apply funds in 
the Deposit Account against amounts 
owed on the Account or on any other 
outstanding obligation owed to the 
Bank, you agree that: (1) we do not 
thereby waive any right we have to do 
so at any later date, and may so apply 
such funds at any time, in our sole 
discretion; and (2) you are not thereby 
excused from the performance of 
any obligation owing with respect 
to the Account or otherwise under 
this Agreement. If, however, (A) the 
Account is closed by you or by us for 
any reason, and (B) we fail to apply 
the funds in the Deposit Account 
against amounts owed on the Account 
or otherwise to us, you may request, 
in writing, that we apply the funds 
in the Deposit Account against such 
amounts. We will honor any such 
written request after we receive 
it at Merrick Bank, P.O. Box 9201, 
Old Bethpage, NY 11804-9001. If 
the amount in the Deposit Account 
exceeds the amount you owe the 
Bank, then, unless you instruct us 
otherwise, we will handle the funds 
remaining in the Deposit Account 
in accordance with the terms of the 
following paragraph.
After the Account has been closed 
and there are no amounts owing in 
connection therewith or otherwise 
under this Agreement, we can hold the 
funds in the Deposit Account until the 
earlier of the following: (1) we elect, 
in our discretion, to close the Deposit 

Account and return any remaining 
funds to you; or (2) not more than 
30 days after we receive from you a 
written request to return any funds 
remaining in the Deposit Account.
17. Additional Deposit Account 
and Security Agreement 
Disclosures. If you have a Deposit 
Account, the following shall apply:
a. Interest Rate. Interest will not be 
paid on your Deposit Account.
b. Minimum Balance to Open and 
Maintain the Deposit Account. You 
must initially deposit, and at all 
times maintain, a deposit amount 
that is defined on the application 
unless we specifically agree 
otherwise with you. If you do not, 
we either will not open the Account 
or we may terminate the Account. 
We reserve the right to refuse  
to accept any deposit into the 
Deposit Account.
c. Subsequent Deposits. 
Subsequent deposits into your 
Deposit Account must be at  
least $50.
d. Transaction Limitations. You 
may not withdraw or transfer 
funds from the Deposit Account, 
except as otherwise set forth in 
this Agreement. Funds may not be 
used to make a payment. Funds 
from a closed Deposit Account will 
be returned in accordance with the 
section above titled “The Deposit 
Account and Security Agreement.”
e. Fees. A Returned Payment Fee, 
as shown in the “Fees” section 
of the Pricing Appendix, will be 
charged for each check or other 
item submitted as a deposit to the 
Deposit Account that is returned or 
rejected for any reason, including 
insufficient funds.
f. Statements. Information about 
the Deposit Account will appear on 
each Billing Statement that we  
send you.
18. Third-Party Features, Services 
or Benefits. If your Card includes a 
rewards program, you acknowledge 
and agree that third-parties 
may be responsible to fulfill any 
merchandise, rewards or other 
redemptions, and that any such 
rewards program will be governed 
by separate terms and conditions 
provided to you prior to participation 
in the program. From time to time 
your Card may include various 
additional features, services and 
enhancements, including common 
carrier travel insurance, credit 
card registration for lost or stolen 

credit cards, and emergency cash 
services that may be provided by 
third-parties. The Bank reserves 
the right to adjust, add or delete 
benefits and services at any time.
19. You Must Read Your Billing 
Statement Carefully as Soon as 
You Receive It. You must read your 
Billing Statement as soon as you 
receive it. You must review all of 
it carefully, including information 
regarding your Deposit Account, 
if any. If there is an error on your 
Billing Statement and you do not 
advise the Bank of that error within 
60 days after the Bank mails 
the Billing Statement to you, you 
will be bound by what the Billing 
Statement shows. You should also 
read carefully the billing dispute 
information provided in the section 
below titled “Your Billing Rights 
Under the Fair Credit Billing Act.”
20. Protecting the Account From 
Fraud. Help to prevent fraud before 
it occurs. Call us immediately at 
(877) 727-6881 if you lose the Card, 
if it is stolen or if you suspect any 
fraudulent use. Reading your Billing 
Statement as soon as you receive it 
and reviewing transactions at www.
merrickbank.com/cardholdercenter 
are ways to help prevent fraud. 
You will not be responsible for any 
unauthorized Purchases with the 
Card occurring after we receive 
notice of its loss or theft. Even if the 
Purchases occur before we receive 
notice of its loss or theft, you will 
not be responsible for them so 
long as: (1) you promptly gave us 
notice of the loss or theft; and (2) 
the transactions were processed by 
Visa or MasterCard. We take Card 
theft and fraud very seriously, and 
you agree to cooperate with our 
investigation and further agree to 
assign to us any claims you may 
have against any third party related 
to theft, fraud or unauthorized use.
21. Your Billing Rights Under the 
Fair Credit Billing Act.

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:

Merrick Bank 
P.O. Box 9201 
Old Bethpage, NY 11804-9001

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 in writing at:
Merrick Bank 
P.O. Box 9201 
Old Bethpage, NY 11804-9001
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.
22. How We May Contact You to 
Discuss the Account. We may use 
automated telephone dialing, text 
messaging systems and electronic 
mail to provide messages to you 
about scheduled payments, missed 
payments and other important 
information regarding this Agreement 
or your relationship with us, and your 
consent to our contacting you using 
those means is partial consideration 
for our willingness to extend credit to 
you. The telephone messages may be 
played by a machine automatically 
when the telephone is answered, 
whether answered by you or someone 
else. These messages may also be 
recorded by your answering machine. 
You give us your permission to call or 
send a text message to any telephone 
number you have given us or you 
give to us in the future and to play 
pre-recorded messages or send text 
messages with information about the 
Agreement over the phone. You also 
give us permission to communicate 
such information to you by email. 
You understand that, when you 
receive such calls, texts, or emails, 
you may incur a charge from the 
company that provides you with 
telecommunications, wireless and/or 
internet services. You agree that we 
will not be liable to you for any fees, 
inconvenience, annoyance or loss of 
privacy in connection with such calls, 
texts, or emails. You understand that 
anyone with access to your telephone 
or email account may listen to or read 
the messages, notwithstanding our 
efforts to communicate only  
with you. If a telephone number(s) you 
have provided to us changes, or  
if you cease to be the owner, 
subscriber or primary user of such 
telephone number(s), you agree to 
immediately give us notice of such 
facts so that we may update our 
records. You agree that we may 
refuse to authorize Purchases or Cash 
Advances or close your Account if we 
are unable or unauthorized to contact 
you by telephone.
If you do not wish for us to use some 
particular manner of contacting you, 
you must notify us. However, we are 
required by law to send you Billing 
Statements even if you request that 
we stop doing so.
If you advise us that you are 
represented by an attorney, you 
must provide the attorney’s name, 

5

 
address and telephone number; if 
you do not provide the attorney’s 
contact information, we may contact 
you to confirm the representation 
and obtain the attorney’s contact 
information. If the attorney does not 
confirm in writing to us within 45 
days after we contact the attorney 
that you are his or her client, then we 
will assume that you are no longer 
represented by the attorney and we 
may communicate with you directly. 
Additionally, if any 45-day period 
passes where your attorney does not 
respond to communications from us, 
we will assume that you are no longer 
represented by the attorney and we 
may communicate with you directly.
You recognize that there is an 
established business relationship 
between you and us. Contacts with 
you about your Account are not 
unsolicited and might result from 
information we obtain from you or 
others. If you ask us to discuss your 
Account with someone else, you must 
provide us with documents that we 
ask for and that are acceptable to us 
in our sole discretion.
You agree that we may, in our 
sole discretion, monitor or record 
telephone calls with you, regardless of 
who initiates the call. We may at our 
discretion preserve records of written, 
voice and electronic communications 
with you, but we do not promise to 
maintain such records for any period 
of time.
You agree that we may, in our sole 
discretion, engage the services of an 
unrelated third party for the purpose of 
providing alternative format materials 
for persons who are visually impaired 
or providing language translation 
services.
23. Where We Are and How You 
May Contact Us. We are located 
in Utah, and the Account is opened 
and maintained there. Our customer 
service telephone number is  
(800) 204-5936. Payments should 
be sent to the payment address 
indicated on the Billing Statement. 
Any general questions about your 
Account or the Card, as well as any 
questions or disputes of any item 
on a Billing Statement, should be 
mailed to: Merrick Bank, P.O. Box 
9201, Old Bethpage, NY 11804-
9001. All communications relating 
to the Arbitration Agreement should 
be mailed to: Arbitration Manager, 
Merrick Bank, Legal Department, P.O. 
Box 5000, Draper, Utah 84020-5000. 
Communications sent to any other 
address will not be reviewed and will 
not protect your rights.

6

24. Agreement to Arbitrate Disputes 
and Class Action Waiver. 
The following “Agreement to 
Arbitrate Disputes and Class Action 
Waiver” does not apply to “Covered 
Borrowers” under the Military 
Lending Act.
This section is an agreement to 
arbitrate disputes (“Arbitration 
Agreement”) that may arise as a 
result of the Agreement or your 
Account. Read this Arbitration 
Agreement carefully. You may reject 
this Arbitration Agreement by notifying 
us in writing within 60 days using 
the procedure set forth at the end of 
this section. If a dispute arises that is 
covered by this Arbitration Agreement, 
you will be required to resolve the 
dispute through Binding Arbitration if 
you or we request Binding Arbitration 
as set forth herein. This means that 
you will not be able to have the 
dispute settled by trial or before a jury 
or to participate in a class action in 
court or a class action or consolidated 
arbitration. Other rights that you would 
have if you went to court may not be 
available or may be more limited in 
arbitration, including your right  
to appeal.
In consideration for our willingness 
to provide you with an Account as set 
forth in the Agreement, you and we 
agree as follows:
Any claim, dispute or controversy 
(“Claim”) by either you or us against 
the other arising from or relating in 
any way to the Cardholder Agreement 
or your Account, except for disputes 
concerning the validity, scope or 
enforceability of this Arbitration 
Agreement (which are for a court 
to decide), shall, at the demand of 
any party, be resolved by Binding 
Arbitration. However, we will not 
demand arbitration pursuant to this 
agreement to arbitrate in connection 
with any individual Claim that 
you properly file and pursue in a 
small-claims court of your state or 
municipality, so long as the Claim is 
pending only in that court. “Binding 
Arbitration” means an arbitration 
proceeding before the American 
Arbitration Association (“AAA”) 
pursuant to the code of procedures 
of the AAA in effect at the time the 
Claim is filed (the “Arbitration Rules”). 
If the AAA is unable or unwilling to 
serve, and we cannot agree on a 
replacement, a court with jurisdiction 
shall select the arbitrator. Any 
arbitration proceeding will take place 
at a location within the federal judicial 
district that includes the most recent 

U.S. Mail address we have on file 
for you at the time the Claim is filed 
or at any other mutually acceptable 
location. Any party to the arbitration 
proceeding may enter judgment upon 
the arbitration award in any court 
having jurisdiction over the arbitration 
award and may have that judgment 
enforced by any court having 
jurisdiction over that judgment. 
A demand for arbitration under this 
agreement to arbitrate may be made 
either before or after a lawsuit or other 
legal proceeding begins, and may be 
made in papers filed in the lawsuit (for 
example, a motion by the defendant 
to compel arbitration of claims 
asserted by the plaintiff in a lawsuit 
filed in court). However, any demand 
for arbitration that is made after a 
lawsuit or other legal proceeding has 
begun must be made within 90 days 
following the service of a complaint, 
third-party complaint, cross-claim or 
counterclaim or any answer thereto 
or any amendment to any of the 
above. If a party files a lawsuit in court 
asserting Claim(s) that are subject to 
arbitration and the other party files a 
motion to compel arbitration with the 
court which is granted, it will be the 
responsibility of the party asserting 
the Claim(s) to start the arbitration 
proceeding in accordance with the 
AAA’s rules and procedures. Even 
if all parties have opted to litigate a 
Claim in court, you or we may demand 
arbitration with respect to any Claim 
made by a new party or any Claim 
later asserted by a party in that or 
any related or unrelated lawsuit 
(including a Claim initially asserted on 
an individual basis but modified to be 
asserted on a class, representative or 
multi-party basis). Nothing in  
that litigation shall constitute a  
waiver of any rights under this 
Arbitration Agreement.
This agreement to arbitrate Claims 
shall be broadly construed and 
includes all controversies and claims 
of any kind between us. It also 
includes any disputes you have with 
our agents, contractors, employees, 
officers or assignees, any merchants 
with whom you use the Account, any 
credit reporting agencies to whom 
we report the Account or any other 
third party that has been involved 
or becomes involved with, or whose 
trademarks are used in connection 
with, any purchasing, marketing, 
soliciting, servicing or credit reporting 
activity relating to your Account. 
Moreover, it includes initial claims, 
counterclaims, cross-claims, third-
party claims and federal, state, local 

and administrative claims and 
claims which arose before the 
effective date of this Arbitration 
Agreement. It also includes 
disputes based upon contract, 
tort, consumer rights, fraud and 
other intentional torts, constitution, 
statute, regulation, ordinance, 
common law and equity and claims 
for money damages and injunctive 
or declaratory relief.
The Claims covered by this 
agreement to arbitrate include, 
without limitation:
  •  Any disputes regarding: the 
application you prepared in 
connection with the issuance of 
your Account; any solicitation 
or advertising materials you 
received in connection with 
your Account; any activities 
relating to the maintenance or 
servicing of your Account; and 
any funds held by the Bank in 
connection with your Account;
  •  Any disputes arising from the 
collection of amounts you owe 
in connection with your Account 
or the manner of collection;
  •  Any disputes concerning the 
dollar amount of payments 
made or transactions posted to 
your Account;

  •  Any disputes concerning the 
processing of items or funds 
transfers sent to the Bank  
for the purpose of posting to 
your Account;

  •   Any disputes regarding 

information obtained by us 
from, or reported by us to, 
credit bureaus or others;
  •  Any disputes related to 

insurance or other services or 
products purchased from us in 
connection with your Account;

  •  Any disputes regarding 

communications involving 
telephones, automatic 
dialing systems, artificial or 
prerecorded voice messages, 
SMS text messages or 
facsimile machines; and
  •  Any disputes concerning the 

relationships resulting from this 
Cardholder Agreement, your 
Account or any of the foregoing.

CLASS ACTION WAIVER: NO 
ARBITRATOR OR COURT MAY 
ORDER, PERMIT OR CERTIFY A 
CLASS ACTION, REPRESENTATIVE 
ACTION, PRIVATE ATTORNEY 
GENERAL LITIGATION OR 
CONSOLIDATED ARBITRATION 

IN CONNECTION WITH THIS 
AGREEMENT TO ARBITRATE. NO 
ARBITRATOR OR COURT MAY 
ORDER OR PERMIT A JOINDER OF 
PARTIES IN CONNECTION WITH 
THIS AGREEMENT TO ARBITRATE, 
EXCEPT FOR JOINDER OF ANY 
JOINT APPLICANT OR OTHER 
AUTHORIZED USER OF THE 
ACCOUNT, UNLESS BOTH YOU AND 
WE CONSENT TO SUCH JOINDER 
IN WRITING. BY ACCEPTING THIS 
ARBITRATION AGREEMENT, YOU 
AGREE TO WAIVE THE RIGHT TO 
INITIATE OR PARTICIPATE IN A 
CLASS ACTION, REPRESENTATIVE 
ACTION, PRIVATE ATTORNEY 
GENERAL LITIGATION OR 
CONSOLIDATED ARBITRATION 
RELATED TO THIS AGREEMENT 
OR YOUR ACCOUNT.
JURY TRIAL WAIVER: IF YOU 
OR WE ELECT TO ARBITRATE 
A CLAIM, YOU AND WE BOTH 
KNOWINGLY AND VOLUNTARILY 
WAIVE THE RIGHT TO HAVE  
A COURT OR JURY DECIDE  
THE CLAIM.
The arbitrator will be required 
to follow relevant substantive 
law consistent with the Federal 
Arbitration Act (“FAA”) and 
applicable judicial precedent to 
arrive at a decision and shall be 
empowered to grant whatever relief 
would be available in court in an 
action for an individual Claim. Any 
award of punitive damages shall be 
subject to the constitutional limits 
that would apply in court. Where 
authorized by applicable law, the 
arbitrator’s award may include 
attorneys’ fees and other expenses. 
The arbitrator shall follow any 
applicable statute of limitations and 
privilege rules.
You and we both agree that 
the transactions subject to this 
agreement to arbitrate involve 
interstate commerce and that this 
agreement to arbitrate shall be 
governed by and enforceable under 
the Federal Arbitration Act, 9 U.S.C. 
§§ 1 et seq.
The cost of any arbitration 
proceeding shall be divided  
as follows:
  •  If you initiate arbitration, you 
will be responsible for paying 
one half of the filing fee, or 
$125, whichever is less,  
when the demand for 
arbitration is made.

  •  If we initiate arbitration, we will 
be responsible for paying all 
arbitration costs.

  •  Regardless of who initiates 

the arbitration, you will not be 
responsible for any arbitration 
fees that exceed one half of the 
filing fee, or $125, whichever is 
less, or the fees that you would 
have incurred if the Claim had 
been brought in court.

Notwithstanding the foregoing, if you 
believe the cost of arbitration may 
be too burdensome, you may seek 
a waiver of the filing fee under the 
applicable Arbitration Rules. If you 
seek, but do not qualify for such a 
waiver, we will consider a written 
request from you to advance all 
or part of the filing fee. Each party 
is responsible for the fees of its 
attorneys, experts, and witnesses 
unless the arbitrator awards them to 
a party. We will always pay any fees 
or expenses that we are required to 
pay by law or the Arbitration Rules or 
that we are required to pay for this 
Arbitration Agreement to be enforced.
The arbitrator’s decision shall become 
final and binding after 30 days unless 
any party to the arbitration takes an 
appeal from the decision by making 
a written request to the AAA. The 
appeal panel, which will consist of 
three arbitrators, will consider all 
factual and legal issues anew, will 
conduct the appeal in the same 
manner as the initial arbitration, and 
will make decisions based on the 
vote of the majority. We will advance 
any fees and costs required by the 
AAA to commence any appeal and 
the appealing party will pay the 
arbitrator’s fee. The appeal panel’s 
decision shall be final and binding, 
except for any appeal rights provided 
by the FAA.
In the event of a conflict between the 
Arbitration Rules or the Cardholder 
Agreement, on the one hand, and this 
Arbitration Agreement on the other 
hand, this Arbitration Agreement shall 
govern. This Arbitration Agreement 
shall survive the closing or termination 
of your Account, voluntary payment 
of your Account or any part of it, 
any legal proceedings to collect 
money you owe, any bankruptcy by 
you and any sale or assignment by 
us of your Account. If any portion 
of this Arbitration Agreement is 
deemed invalid or unenforceable, the 
remaining portions shall nevertheless 
remain in force, except that: (A) If 
a determination is made that the 
Class Action Waiver is unenforceable, 
only this sentence of the Arbitration 
Agreement will remain in force and the 
remaining provisions shall be null and 
void, provided that the determination 

concerning the Class Action Waiver 
shall be subject to appeal and the 
parties acknowledge and agree that 
under no circumstances will a class 
action be arbitrated; and (B) If a Claim 
is brought seeking public injunctive 
relief and a court determines that 
the restrictions in the Class Action 
Waiver or elsewhere in this Arbitration 
Agreement prohibiting the arbitrator 
from awarding relief on behalf of third 
parties are unenforceable with respect 
to such Claim (and that determination 
becomes final after all appeals have 
been exhausted), the Claim for public 
injunctive relief will be determined 
in court and any individual Claims 
seeking monetary relief will be 
arbitrated. In such a case the parties 
will request that the court stay the 
Claim for public injunctive relief until 
the arbitration award pertaining to 
individual relief has been entered in 
court.  In no event will a Claim for 
public injunctive relief be arbitrated.
You may contact the AAA to obtain 
information about arbitration, 
arbitration procedures and fees  
by calling the telephone number or 
going to the Internet website  
indicated below:
American Arbitration Association 
120 Broadway, 11th Floor 
New York, NY 10271 
800-778-7879 
www.adr.org
RIGHT TO REJECT ARBITRATION
YOU HAVE THE RIGHT TO REJECT 
THIS AGREEMENT TO ARBITRATE, 
BUT YOU MUST EXERCISE THIS 
RIGHT PROMPTLY. If you do not 
wish to be bound by this agreement 
to arbitrate, you must notify us in 
writing within sixty (60) days after 
the date your Account is opened. 
You must send your request to: 
Arbitration Manager, Merrick Bank, 
Legal Department, P.O. Box 5000, 
Draper, Utah 84020-5000. The 
request must include your 16-digit 
Account number and a clear 
statement of your intent, such as “I 
reject the arbitration clause in the 
Merrick Bank Visa or MasterCard 
Cardholder Agreement.” Your 
election to reject arbitration will 
not affect the other terms of your 
Account, nor will we close the 
Account as a result of your election 
to reject arbitration.
25. Third-Party Legal Process 
Against the Account or the Deposit 
Account. We will comply with any 
notice of garnishment, attachment, 
tax levy, injunction, restraining order, 
subpoena or other legal process 

relating to the Account or the Deposit 
Account that, in our sole judgment, 
appears to be valid. If your Account or 
Deposit Account becomes involved or 
subject to any legal or administrative 
proceeding, and we are ordered or 
required to take any action relative  
to your Account or Deposit Account 
that is inconsistent with the terms 
of this Agreement, the terms of such 
order or requirement shall supersede 
and replace the terms of this 
Agreement. You agree to pay all of our 
costs and expenses associated with 
responding to any matter described 
in this paragraph, including our 
attorneys’ fees.
26. Utah and Federal Law Apply to 
the Account. This Agreement and 
all matters relating to the Card or 
the Account, as well as any disputes 
between us and you, shall be subject 
to and governed by federal law and 
the internal laws of the State of Utah 
without regard to rules concerning 
conflicts of law or choice of law.
27. Jurisdiction, Venue and Service 
of Process. You acknowledge that 
you applied for credit from a bank 
located in Utah and by using the card 
are borrowing money from a bank 
located in Utah. You acknowledge 
and agree that we may enforce this 
Agreement and resolve any disputes, 
for which arbitration is not demanded 
in accordance with the Arbitration 
Agreement, in courts located in Salt 
Lake County, Utah, and that such 
courts have proper jurisdiction to hear 
any matters related to this Agreement. 
You agree that we may serve process 
upon you using certified mail from the 
United States Postal Service or any 
other courier service, and you hereby 
acknowledge that the signature of 
any person found at your residence or 
other address on such mailing receipt 
will serve as satisfactory proof that 
process was served upon you and 
shall be deemed notice to you thereof.
28. We May Assign the Agreement 
but You May Not. You may not sell, 
assign, or otherwise transfer this 
Agreement, the Card, the Deposit 
Account or the Account, or any portion 
thereof, without the express written 
consent of the Bank. The Bank may 
sell, assign, or transfer this Agreement 
or the Account or the Deposit Account, 
or any portion thereof or any rights to 
collect money thereunder, at any time 
and without your prior consent.
29. We Do Not Waive Our Rights 
Through Inaction or Delay. The 
Bank’s failure to exercise (or delay in 
exercising) any of its rights under  

7

this Agreement or its waiver of its 
rights on any one or more occasions 
shall not constitute a waiver of such 
rights on any other occasion. All 
rights and remedies of the Bank are 
cumulative and may be pursued 
singularly, successively or together,  
at its sole option.
30. Severability. Except as set 
forth in the Arbitration Agreement, 
if any portion of this Agreement is 
deemed invalid or unenforceable, the 
remaining portions shall nevertheless 
remain in force.
31. The Agreement Is an Integrated 
Agreement. This document, together 
with the Pricing Appendix and any 
change-in-terms notices we send 
to you, constitute the final written 
expression of the Agreement between 
you and the Bank concerning the 
Card, the Account and the Deposit 
Account, and this Agreement may not 
be contradicted by evidence of any 
alleged oral agreement.
32. Glossary and Definitions. The 
following definitions apply throughout 
your Agreement.
“Account” means the credit card 
account governed by this Agreement. 
The Account was created in and is 
maintained within the State of Utah.
“Account Balance” means what 
you owe the Bank at a particular 
moment in time, including all billed 
and accrued interest, based upon 
transactions that have posted by 
that time. The balance information 
you receive over the telephone or 
online from us may not be your payoff 
balance due to possible delays in 
posting or calculation, or due to fees 
or interest incurred or to be incurred, 
or for other reasons.
“Annual Fee” means the annual fee, if 
any, described in the Pricing Appendix 
and elsewhere in this Agreement.
“Additional Card Fee” means the 
additional fee, described in the Pricing 
Appendix, that must be paid annually 
for each additional Card provided to 
you, a co-applicant or an authorized 
user of the Account.
“Agreement” means this document 
and the Pricing Appendix, together 
with any changes in terms.

“Annual Percentage Rate” or “APR” 
is the interest rate stated as a yearly 
rate. As set forth in the Pricing 
Appendix, different APRs will apply to 
Purchases and Cash Advances.
“Arbitration Agreement” means the 
section of this Agreement entitled 
“Agreement to Arbitrate Disputes and 
Class Action Waiver.”
“ATM” means automated  
teller machine.
“Average Daily Balance” means the 
average of the daily balances on your 
Account during a Billing Cycle.
“Bank,” “Merrick Bank,” “we,”  
“our” and “us” mean Merrick  
Bank Corporation.
“Billing Cycle” means the interval 
between the closing dates for each 
successive Billing Statement.
“Billing Statement” means the 
statement of transactions, fees  
and charges that you receive for  
your Account each month. We are 
under no obligation to send you a 
Billing Statement if your Account 
Balance is zero and if you have no 
transactions on the Account during  
the Billing Cycle.
“Card” means the plastic card(s) 
we have provided to you to make 
charges to the Account, as well as any 
additional, renewal, replacement or 
temporary card and any other device 
or technology which may be used to 
make charges to the Account or to 
evidence its existence.
“Cash Advance” means a transaction 
with the Card wherein you receive 
cash or a cash equivalent, or 
wherein we provide cash or a cash 
equivalent to someone at your 
direction. Examples of Cash Advance 
transactions include ATM transactions, 
transactions made at another bank, 
balance transfers, money transfers, 
money order purchases, tax payments, 
traveler’s check purchases, foreign 
currency purchases, casino chip 
purchases and gaming transactions. 
Even if we choose to treat a particular 
Cash Advance (or a portion of it) as 
a Purchase, we may still treat other 
Cash Advances (or portions of them) 
as Cash Advances, and we do not 
waive our right to do so.

“Cash Advance APR Cap” means the 
highest APR for Cash Advances that 
may apply to your Account.
“Cash Advance Margin” is the amount 
that is added to the Prime Rate to 
determine the APR for Cash Advances 
on your Account.
“Daily Periodic Rate” or “DPR” means 
the applicable APR divided by 365.
“Default” occurs if: (a) you fail to 
honor any obligation under this 
Agreement, including but not 
limited to, your obligation to make 
at least the Minimum Payment by 
the Payment Due Date and to keep 
the New Balance below the credit 
limit; (b) we believe that you gave 
us false information; (c) you die or 
become the subject of any insolvency 
or bankruptcy proceeding; (d) we 
believe there has been a material 
change in your financial condition or 
your willingness to pay your debts 
when due; (e) any payment you make 
is rejected, not paid, or cannot be 
processed; or (f) we believe that you 
permanently reside outside of the 
United States.
“Deposit Account” means (if the 
Account is wholly or partially secured) 
the Merrick Bank deposit account 
opened as security for the Account, as 
described in the “Deposit Account and 
Security Agreement (If Applicable)” 
section of this Agreement.
“EFT” means electronic funds transfer.
“Introductory Annual Percentage 
Rate” or “Introductory APR” (also 
“Introductory Daily Percentage Rate” 
or “Introductory DPR”) is a lower 
interest rate that applies for a limited 
amount of time after an account is 
opened. Your Account may or may not 
have Introductory rates.
“Late Payment Fee” means the 
fee you must pay if your Minimum 
Payment is not received on time. The 
amount of the Late Payment Fee is 
set forth in the Pricing Appendix and 
is in addition to any additional interest 
charges that accrue as a result of your 
paying late.
“Minimum Payment” means what you 
must pay each Billing Cycle before 
the Payment Due Date. The Minimum 
Payment is calculated as described in 
the Pricing Appendix.

“New Balance” means the total 
amount you owe to the Bank as 
of the end of the Billing Cycle 
described in the Billing Statement. 
If transactions are posted after the 
end of the Billing Cycle, the New 
Balance will not equal the Account 
Balance under most circumstances.

“Payment Due Date” means the 
date when your Minimum Payment 
must be received by the Bank, 
prior to 5 p.m. local time at the 
payment address indicated on the 
most recent Billing Statement. If 
the Minimum Payment is not timely 
received, you must pay a Late 
Payment Fee. The Payment Due 
Date will be shown on the Billing 
Statement and always will be at 
least 25 days after the last day of 
the prior Billing Cycle.

“Pricing Appendix” refers to the 
document attached to your Card 
when you first received it, setting 
forth applicable APRs, fees and 
certain other important terms of  
this Agreement.

“PIN” refers to the personal 
identification number associated 
with your Card for use in ATM and 
other electronic transactions.

“Prime Rate” means the prime 
rate of interest published on the 
last business day of each month 
in The Wall Street Journal (or a 
comparable rate if The Wall Street 
Journal ceases publication).

“Purchase” means any transaction 
with the Card between you and 
anyone else who accepts the Card 
as a means of payment. However, 
Cash Advances are not Purchases.

“Purchase APR Cap” is the highest 
APR for Purchases that may apply 
to your Account.

“Purchase Margin” is the amount 
that is added to the Prime Rate to 
determine the APR for Purchases on 
your Account.

“You” and “your” means the Card 
applicant, or if applying jointly,  
both Card applicants, and the 
person or persons to whom the 
Card is issued.

Equal Opportunity Lender  
Member FDIC  
G-17854 01/2020

8

ACCOUNT OPENING DISCLOSURES—MERRICK UNSECURED 

Interest Rates and Interest Charges 

Annual Percentage Rate (APR) for 
Purchases 

APR for Cash Advances 

Paying Interest  

Minimum Interest Charge 
For Credit Card Tips from the Consumer 
Financial Protection Bureau 

Fees 

Set-up and Maintenance Fees 

· Annual Fee 
· Account Set-up Fee  
· Additional Card Fee 

Transaction Fees 
   · Cash Advance 
   ·Foreign Transaction  

Penalty Fees 
   · Late Payment 
  ·  Over Limit 
  ·  Returned Payment 

23.45% to 28.45% when you open your account, based on 
creditworthiness. Your APR will vary with the market based on the Prime 
Rate.* 
28.45% to 33.45% when you open your account, based on creditworthiness. 
Your APR will vary with the market based on the Prime Rate.* 
Your Payment Due Date is at least 25 days after the close of each Billing 
Cycle. We will not charge you interest on Purchases if you pay your 
entire New Balance by the Payment Due Date each month.  We will begin 
charging interest on Cash Advances on the transaction date.  
If you are charged interest, the charge will be no less than $1.00 
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. 

NOTICE:  Some of these set-up and maintenance fees will be assessed 
before you begin using your card and will reduce the amount of credit you 
initially have available. For example, if your minimum credit limit is $500, 
your initial available credit limit will be only about $377 (based on a one-
time $75 set-up fee and a $48 annual fee) or about $365 if you also choose to 
have an additional card. 

You may still reject this plan, provided that you have not yet used the 
account or paid a fee after receiving a billing statement.  If you do reject the 
plan, you are not responsible for any fees or charges. 

$0 to $72 the first year.  Billed $0 to $6 per month thereafter. 
$0 to $75  (one-time fee) 
$0 to $12 per additional card issued, per year. Billed $0 to $1 per month, per 
card thereafter. 

Either $10 or 4% of the amount advanced, whichever is greater.  
2% of each transaction in U.S. Dollars. 

Up to $40 
$0 
Up to $40 

How We Will Calculate Your Balance: We use a method called "average daily balances (including new purchases)."   
See your Cardholder Agreement for more details. 
Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your  
Cardholder Agreement. 
Annual Percentage Rates: Daily Periodic Rate for Purchases .06424% to .07794%; Daily Periodic Rate for Cash Advances .07794% to 
.09164%. 
Variable Rate Information:  Purchase Margin 20.20 to 25.20 percentage points; Cash Advance Margin 25.20 to 30.20 percentage 
points.  Your APR for Purchases and Cash Advances may vary. Your APR is determined monthly by adding the appropriate margin to the 
Prime Rate*. If the Prime Rate* increases, your APR will increase accordingly, with no cap.  An increase in your APR will result in an 
increase of your minimum payment amount. 
*"Prime Rate" means the prime rate of interest published on the last business day of each month in The Wall Street Journal 
 (or a comparable rate if The Wall Street Journal ceases publication).  
Minimum Payment: All past-due amounts, any Annual Fee billed monthly, any Additional Card Fee billed monthly plus the greater of 
the following amounts: (i) 1% of your New Balance plus Late Fees, Cash Advance Transaction Fees, Over Limit Fees, Returned Payment 
Fees, and Interest Charges billed during the Billing Cycle for which the Minimum Payment is calculated, as shown on that periodic 
statement, rounded to the next-higher dollar; or (ii) $35. If the New Balance is less than $35, the Minimum Payment will be the total 
amount owed.  

Rev 12/1/2020mp35