FR833282333_JCPENNEY CREDIT CARD
T&C PLCC PDF
9/12

GE CAPITAL RETAIL BANK  
SECTION I: RATES AND FEES TABLE 
JCPENNEY CREDIT CARD ACCOUNT AGREEMENT 
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

26.99%

How to Avoid Paying Interest

Your due date is at least 23 days after the close of each billing cycle. We will not charge you 
any interest if you pay your entire balance by the due date each month.

Minimum Interest Charge

If you are charged interest, the charge will be no less than $2.00.

Fees

Penalty Fees

•	Late Payment

Up to $35

How We Will Calculate Your Balance: We use a method called “daily balance”. See your credit card account agreement below for 
more details.

SECTION II: RATES, FEES AND PAYMENT INFORMATION 
 JCPENNEY CREDIT CARD 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 for purchases is 
the APR times 1/365. The daily rate for purchases is .07395% (APR 26.99%). Interest will be imposed in amounts or 
at rates not in excess of those permitted by applicable law.

When We Charge Interest 

We charge interest on your purchases from the date you make the purchase until you pay the purchase in full. See 
exceptions below.

•	 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	 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.

How We Calculate Interest

How Fees Work 

Late Payment Fee 

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	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. Credit insurance premiums and debt cancellation fees, 
if any, are not included in the daily balance. Late payment fees are treated as new purchases.

  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  $2.00  of  interest  in  any  billing  cycle  in  which  you  owe  interest.  This  charge  is  added 
proportionately to each balance type.

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. $25, if you have paid your total minimum payment due by the due date in each of the prior six billing cycles.

  OR

  2.  $35, 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.	The	sum	of:

(a)  $25, or $35 (which includes any past due amounts) if you have failed to pay at least the total minimum payment due by the due date in any one or more of the 

prior six billing cycles; PLUS

(b) Any credit insurance premiums charged in the current billing cycle, OR

2.	The	sum	of:

(a)	The	following	amounts,	rounded	up	to	the	next	highest	whole	dollar:

(i) Any past due amounts; PLUS
(ii) 1% of your new balance shown on your billing statement; PLUS
(iii) Any late payment fees charged in the current billing cycle; PLUS
(iv) All interest charged in the current billing cycle; PLUS

(b) Any credit insurance premiums charged in the current billing cycle, OR

3.	If	your	account	balance	does	not	include	debt	cancellation	fees,	the	sum	of:

(a) Any unpaid interest; PLUS
(b) Any credit insurance premiums and other insurance premiums charged in the current billing cycle; PLUS
(c) Any past due amounts.

Your total minimum payment will never be more than your new balance.

Special Promotional Financing Offer Information 
At times, we may offer you special financing promotions for certain transactions (“special promotions”). The terms of this Agreement apply to any special promotions. 
However,  any  special  promotional  terms  that  are  different  than  the  terms  in  this  Agreement  will  be  explained  on  special  promotion  promotional  advertising  or  other 
disclosures provided to you. 

Below	is	a	description	of	certain	promotions	that	may	be	offered	at	jcpenney	stores	and	online	at	jcp.com:

No Interest if Paid in Full Within 6, 12, 18, or 24 Months

No  Interest  Until  January  1,  2013;  June  1,  2013;  or 
November 1, 2013

For each promotion, after the promotion ends, the APR that applies to your account when the promotional 
purchase is made will apply. At the time your account is opened, the Purchase APR is 26.99%.

When you make a qualifying purchase under one of these promotions, no interest will be assessed on the purchase during the promotional period, but minimum monthly 
payments	are	required.	Regular	account	terms	apply	to	non-promotional	purchases	and,	after	promotion	ends,	to	your	promotional	purchases.	Offers	are	subject	to	credit	
approval. These promotional offers may not be available at all times for all purchases. Please see any special promotion advertising or other disclosures provided to you 
for the full terms of any special promotion offered.

In	addition,	the	special	promotions	described	below	may	be	offered	at	jcpenney	stores	in	Puerto	Rico:

No Interest if Paid in Full Within 12 Months

For each promotion, if the promotional balance is not paid in full within the promotional period, interest 
will be imposed from the date of purchase at the Purchase APR that applies to your account when the 
promotional purchase is made. At the time your account is opened, the Purchase APR is 26.99%.

When you make a qualifying purchase under one of these promotions, no interest will be assessed on the purchase if you pay the following (the “promotional balance”) 
in	full	within	the	applicable	promotional	period:	(1)	the	promotional	purchase	amount,	and	(2)	any	related	optional	credit	insurance/debt	cancellation	charges.	If	you	do	
not,  interest  will  be  assessed  on  the  promotional  balance  from  the  date  of  the  purchase.  Minimum  monthly  payments  are  required.  Regular  account  terms  apply  to  
non-promotional	purchases	and,	after	promotion	ends,	to	promotional	purchases.	Offers	are	subject	to	credit	approval.	These	promotional	offers	may	not	be	available	at	
all times for all purchases. Please see any special promotion advertising or other disclosures provided to you for the full terms of any special promotion offered.

SECTION III: STANDARD PROVISIONS  
JCPENNEY CREDIT CARD ACCOUNT AGREEMENT 

ABOUT THE CREDIT CARD ACCOUNT AGREEMENT

This Agreement. This is an Agreement between you and GE Capital Retail 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, 
the application you submitted 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“. GE Capital Retail 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.

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	jcpenney	
stores,	jcp.com,	or	other	companies	authorized	to	accept	the	jcpenney	credit	card.

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.

Purchase Limits. To prevent fraud, we may limit the number or dollar amount of purchases 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 that we may increase or decrease from time to time. If we approve a purchase that makes you go over your credit 
limit, we do not give up any rights under this Agreement and we do not treat it as an increase in your credit 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	jcpenney	store.	jcpenney	stores	take	payments	that	you	make	to	them	as	a	convenience	to	you.	We	may	not	
credit	those	payments	to	your	account	until	we	receive	them.	Under	ordinary	circumstances,	any	payment	made	at	a	jcpenney	store	will	be	credited	as	of	the	day	
you make such payment in the store. We may allow you to make payments over the phone but we may 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	 authorized	 and	 directed	 us	 to	 give	 information	 about	 you	 and	 your	 account	 to	
jcpenney	and	its	affiliates	and	licensees	(the	“jcpenney	family”).	The	jcpenney	family	will	use	the	information	in	connection	with	the	credit	program	and	for	things	like	
creating and updating its records for you, assisting them in better serving you, and providing you with notices of special promotions, marketing materials and tailored 
offerings. More information about how we use and share information is set forth in the privacy policy for your account.

Address/Phone Change. You agree to tell us right away if you change your address or phone number(s). We will contact you at the address or phone number in 
our records until we update our records with your new address or phone number. 

Consent To Communications. You consent to us contacting you using all channels of communication and for all purposes. We will use the contact information 
you provide to us. You also consent to us and any other owner or servicer of your account contacting you using any communication channel. This may include text 
messages, automatic telephone dialing systems and/or an artificial or prerecorded voice. This consent applies even if you are charged for the call under your phone 
plan. You are responsible for any charges that may be billed to you by your communications carriers 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. 

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  965007,   
Orlando, FL 32896-5007 (Puerto Rico and U.S. Virgin Islands residents, write to P.O. Box 364788, San Juan, PR 00936-4788). 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 (800) 542-0800 (Puerto Rico and U.S. Virgin Islands residents, 
call	1-800-981-8400).	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 J. C. Penney Corporation, 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	GE	Capital	Retail	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),   
1633  Broadway,  10th  Floor,  New  York,  NY  10019,  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.

•	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 GE Capital Retail Bank, PO Box 965012,  
Orlando,	FL	32896-5012.	This	is	the	only	way	you	can	reject	this	section.

SECTION IV:  OTHER IMPORTANT INFORMATION OF 
JCPENNEY CREDIT CARD 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_JCPENNEY CREDIT CARD
T&C PLCC PDF
9/12