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.  

TABLE OF CONTENTS 

1.  Welcome to Merrick Bank and to Your Card Agreement. ............................................1 
Your Promise to Pay. .........................................................................................................1 
2. 
How to Make Payments and How We Apply Them. ......................................................2 
3. 
You Must Make Your Minimum Payments On Time. ...................................................3 
4. 
How Interest Is Calculated. ...............................................................................................3 
5. 
About Periodic Rates (APRs and DPRs). ........................................................................4 
6. 
How to Avoid Paying Interest on New Purchases ...........................................................4 
7. 
About Other Interest Charges and Fees. .........................................................................4 
8. 
About Annual Fees. ............................................................................................................5 
9. 
About the Credit Limits on the Account..........................................................................5 
10. 
About Foreign Currency Transactions. ...........................................................................6 
11. 
12.  What Purchases and Cash Advances Are Not Allowed. ................................................6 
Closing the Account. ..........................................................................................................7 
13. 
About Excess Payments and Credits. ...............................................................................7 
14. 
About Credit Reporting. ...................................................................................................7 
15. 
The Deposit Account and Security Agreement (If Applicable). ....................................7 
16. 
17. 
Additional Deposit Account and Security Agreement Disclosures. ..............................8 
18.  We Are Not Responsible for Third-Party Features, Services or Benefits. ...................9 
You Must Read Your Billing Statement Carefully as Soon as You Receive It. ...........9 
19. 
Protecting the Account From Fraud. ...............................................................................9 
20. 
21. 
Your Billing Rights Under the Fair Credit Billing Act. ...............................................10 
22.  How We May Contact You to Discuss the Account. .....................................................11 
23.  Where We Are and How You May Contact Us. ...........................................................12 
Agreement to Arbitrate Disputes and Class Action Waiver. .......................................12 
24. 
Third-Party Legal Process Against the Account or the Deposit Account. .................15 
25. 
Utah and Federal Law Apply to the Account. ...............................................................15 
26. 
27. 
Jurisdiction, Venue and Service of Process. ..................................................................15 
28.  We May Assign the Agreement but You May Not. .......................................................15 
29.  We Do Not Waive Our Rights Through Inaction or Delay. .........................................15 
Severability. ......................................................................................................................15 
30. 
31. 
The Agreement Is an Integrated Agreement. ................................................................16 
32.  Glossary and Definitions. ................................................................................................16 

 
 
 
 
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, you agree to notify the merchant 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 total credit limit and your 
available Cash Advance credit limit and are otherwise in compliance with this Agreement.  A 
Cash Advance Transaction Fee will be charged to your Account each time you obtain a Cash 
Advance. 

You must sign the back of the Card before you use it for the first time.  BY SIGNING THE 
CARD OR USING IT TO MAKE A PURCHASE OR TO OBTAIN A CASH ADVANCE, 
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, and, 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/Legal/Agreements.aspx.  If you 
are visually impaired, please call us at (800) 253-2322 for assistance. 

Your Promise to Pay. 

2. 
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.  We 
reserve the right to hold such person responsible for his or her Purchases, Cash Advances and 
associated interest charges and fees, but our doing so does not relieve you of your duty to pay.  

 
 
 
 
 
 
 
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) 253-2322 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 not to any third party 
(except if applicable law requires otherwise).  No matter where Billing Statements are sent or 
when they are received, 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.  You agree to pay reasonable attorneys’ fees even if the attorney is a 
salaried employee of the Bank or its assignee.   

How to Make Payments and How We Apply Them. 

3. 
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 with the payment coupon and received 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 posted to your Account as of that date.  If you send payments to any other 
address or fail to include the payment coupon, the payment may be lost or there may be a delay 
in posting the payment.  Either event could result in a Late Payment Fee and/or additional 
interest charges.   Please call us at (800) 253-2322 or go to www.merrickbank.com/Contact-
Merrick-Bank.aspx if you do not know where to send your payment or if you wish to confirm 
that a payment has been received. 

Payments in excess of the Minimum Payment shown on the most recent Billing Statement will 
be applied first to the highest 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. 

Merrick Bank processes electronic check conversions.  This means that if you send us a check 
we may take information from it (including without limitation the amount, your bank routing 
number, checking account number and check number) to initiate an electronic funds transfer 
(EFT).  An EFT likely will clear more quickly than a check, and your checking account even 
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 and 
your bank returns the item to us unpaid, you must pay a Returned Item 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.  If we are unable to process the 
EFT for any reason, we may submit either your original check or a copy of your original check 

 
 
 
 
 
 
to your bank for payment and processing.  If at any time you do not wish to participate in 
Merrick Bank’s check conversion program, please send a written request to remove your 
Account from this program to Merrick Bank, P.O. Box 9201, Old Bethpage, NY 11804-9002.  
We may take up to 30 days after we receive your written request to process it. Any checks we 
receive from you during that period that are to be converted into an EFT may not be covered by 
your written request. 

You Must Make Your Minimum Payments On Time. 

4. 
You may pay the New Balance in full every month, or you can pay it in monthly installments. If 
you decide to pay it in installments, then 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.  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 use the Card.  If the Minimum Payment is not received on time, 
you agree to pay a Late Payment Fee. 

If banking regulation requires that we classify your Account uncollectible and charge it off due 
to non-payment, your death or other violation of this Agreement, you will be in default and the 
Bank reserves 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 its rights under this Agreement or 
applicable law as the Bank in its sole discretion deems appropriate. 

How Interest Is Calculated. 

5. 
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 billed but unpaid interest on 
Purchases, Annual Fees (including Additional Card Fees), Late Payment Fees, Returned Item 
Fees, Over Limit Fees, Copying Charges, Currency Conversion Charges related to Purchases, 
Phone Payment Fees, Replacement Card Fees, the Account Set-up Fee and Fees for Other 
Services.  For Cash Advances, the beginning balance includes billed but unpaid interest on Cash 
Advances, Cash Advance Transaction Fees and Currency Conversion Charges related to Cash 
Advances.  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 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 posted 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 posted 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. 

 
 
 
 
 
About Periodic Rates (APRs and DPRs). 

6. 
If your Account has an Introductory APR for Purchases or Cash Advances, the Introductory APR 
and the corresponding Introductory DPR 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 the Purchase Margin and 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 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 “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 the Billing Cycle.  An increase in the 
Prime Rate may result in an increase in the amount of interest charged, the Minimum Payment or 
both. 

How to Avoid Paying Interest on New Purchases. 

7. 
  You will not be charged interest on new Purchases during a Billing Cycle if you paid the entire 
New Balance, if any, shown on the Billing Statement on or before the Payment Due Date. 

About Other Interest Charges and Fees. 

8. 
You agree to pay the following additional interest charges and fees 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. 

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 Charge.  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, except if 
the copies are produced to resolve a reported billing error under the Fair Credit Billing Act. 

e.  Currency Conversion Charge.  For each Purchase or Cash Advance made in a foreign 

currency, we add an additional interest charge of 2% of the amount of the Purchase or Cash 
Advance after its conversion into U.S. Dollars, as described in the “About Foreign Currency 
Transactions” section of this Agreement. 

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 
the Billing Cycle would otherwise be less than $1, a Minimum Interest Charge will be charged to 
your Account. 

h.  Phone Payment Fee.  If you wish expedited service for transmittal of a payment, you 

may request to make a phone payment.  Your Account will be charged $10 for each phone 
payment you request. 

i.  Replacement Card Fee.  Your Account will be charged $15 for each replacement 
Card or PIN you request, no matter what the reason, or if your Card or PIN is lost or stolen. 

j.  Returned Item Fee.  A Returned Item 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.  You authorize us to resubmit returned payments (including 
without limitation through electronic collection methods) at our discretion.   

k.  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. 

l.  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. 

About Annual Fees. 

9. 
If your Card is subject to an Annual Fee, but you have not yet used your Card to make a 
Purchase or to obtain a Cash Advance, you may cancel your Account within 90 days of receiving 
the Card by calling (800) 253-2322 or by writing to us at Merrick Bank, P.O. Box 9201, Old 
Bethpage, NY 11804-9002.  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 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 
and Additional Card 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.  However, you will still be responsible 
to pay the full Annual Fee and Additional Card Fee even if you or we close the Account and/or 
you surrender the Card and/or any additional Card in the middle of the year.  

About the Credit Limits on the Account. 

10. 
The Bank has established a total credit limit and a Cash Advance credit limit on the Account, and 
any transaction that might exceed one of these credit limits may be declined at our sole 
discretion.  These credit limits may be reduced at any time without warning or notice to you, at 

 
 
 
 
 
 
 
 
 
any time, during any Billing Cycle.  We similarly 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 creditworthiness, the Bank, in its discretion, may consider, among other 
things, the total amount of debt you are carrying compared to your resources or any other of your 
credit characteristics, regardless of your performance on the Account.  

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 in increments of $50, and without our express written approval the 
balance in the Deposit Account may not exceed an amount that together with any unsecured 
credit available to you through your account would cause your total credit limit to exceed the 
amount of $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 posted a payment 
or 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 
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. 

About Foreign Currency Transactions. 

11. 
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. For each 
Purchase or Cash Advance made in a foreign currency, we add an additional interest charge of 
2% of the amount of the Purchase or Cash Advance after its conversion into U.S. Dollars. 

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 unlawful gambling activity. 

You may not use the Account or the Card to purchase illegal items, to commit a fraud, to harm 
anyone or to 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 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 if you let someone else use the Account or the Card for a prohibited, improper or 
unlawful purpose, or at a time when use of the Account or the Card is not permitted, you still 
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 if 
your transactions or those that you let someone else make are lawful; neither the Bank nor Visa® 
nor MasterCard® is responsible for determining the legality of any transaction. 

Closing the Account. 

13. 
We may close the Account at any time for any reason (or no reason) and without prior notice. 
You may close the Account at any time.  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 if charging privileges are reduced, 
restricted or suspended. You will forfeit to us any credit balance of 99 cents or less if you do not 
make an offsetting Purchase within one Billing Cycle after the creation of the credit balance. 

About Excess Payments and Credits. 

14. 
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 that occur.  If a 
credit balance persists for five Billing Cycles, we will mail a check to you for the amount of the 
credit balance if it is $1 or more.  If we are unable to locate you, any credit balance in your 
account will be escheated pursuant to applicable law. You will forfeit to us any credit balance of 
99 cents or less if you do not make an offsetting Purchase.  

About Credit Reporting. 

15. 
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 notify the appropriate credit 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 11804-9002, and identify the specific information you believe is inaccurate.  
If you are dissatisfied with our response to your claim that inaccurate information has been 
reported, you must write us again to request that we inform consumer reporting agencies that you 
dispute our manner of reporting; if you do not do so, we will assume that you agree with our 
response and that no dispute exists.  IF YOU FAIL TO MAKE PAYMENTS ON TIME AS SET 
FORTH IN THIS AGREEMENT OR IF YOU OTHERWISE FAIL TO FULFILL THE TERMS 
OF THIS AGREEMENT, THEN NEGATIVE OR DEROGATORY INFORMATION MAY BE 
PLACED ON YOUR CREDIT FILE AND THIS COULD IMPAIR YOUR ABILITY TO 
RECEIVE FUTURE CREDIT, INSURANCE OR EMPLOYMENT AND COULD HAVE 
OTHER ADVERSE CONSEQUENCES FOR YOU. 

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 balance is 
paid in full. 

YOU HEREBY GRANT TO THE BANK A SECURITY INTEREST IN THE DEPOSIT 
ACCOUNT TO SECURE PERFORMANCE BY YOU OF ALL OF YOUR OBLIGATIONS 
WITH RESPECT TO THE ACCOUNT AND OTHERWISE 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 against all amounts owed on the Account and any other 
outstanding obligation owed to the Bank, including, without limitation, any part of your 
outstanding Account balance in connection with which any claim under a credit insurance policy 
or debt cancellation program is pending. If we elect not to, or otherwise fail to apply funds in the 
Deposit Account against amounts owed on the Account or 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 within five (5) business days after 
we receive it at Merrick Bank, P.O. Box 9201, Old Bethpage, NY 11804-9002.  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 ninety (90) days after we receive from you a written 
request to return any funds remaining in the Deposit Account.  

17. 
If you have a Deposit Account, the following shall apply: 

Additional Deposit Account and Security Agreement Disclosures. 

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 of $300, 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 made 

in increments of $50.  

d.  Transaction Limitations.  You may not withdraw or transfer funds from the Deposit 
Account, except as otherwise set forth in this Agreement. 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 Item 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.  

g.  No Joint Accounts.  We require that any Deposit Account be owned solely by one 

individual.  

18.  We Are Not Responsible for Third-Party Features, Services or Benefits. 
If your Card includes a rewards program, you acknowledge and agree that third-parties are 
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 service. The Bank is not liable for these features, 
services, and enhancements, and such features, services, and enhancements are the sole 
responsibility of the third-party provider. You agree to hold the Bank harmless from any claims, 
actions or damages resulting from your use of any of these features, services or enhancements, 
when permitted by applicable law. The Bank reserves the right to adjust, add or delete benefits 
and services at any time and without compensating you in any fashion. 

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.” 

Protecting the Account From Fraud. 

20. 
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.login.merrickbank.com are ways to help 
prevent fraud.  You will not be responsible for any unauthorized Purchases with the Card 
occurring after we receive word of its loss or theft.  Even if the Purchases occur before we 
receive word 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; (2) the transactions were processed by Visa® or 
MasterCard®; and (3) you were neither engaged in any fraud nor grossly negligent in handling 
the Account or the Card.  In all other circumstances you will be responsible for all resulting 
Purchases and Cash Advances, and we reserve the right to collect from you all amounts due or 
otherwise resulting from such Purchases and Cash Advances.  YOU ALSO WILL BE 
RESPONSIBLE FOR ANY LOSSES RELATING TO CASH ADVANCES OR RESULTING 
FROM ANY ATM OR POINT OF SALE TRANSACTION WHERE THE CORRECT 
PERSONAL IDENTIFICATION NUMBER WAS ENTERED IN CONNECTION WITH THE 
TRANSACTION.  DO NOT GIVE OUT YOUR ATM PIN NUMBER TO ANYONE AND DO 
NOT KEEP IT WITH THE CARD!  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 NOTICE FOR FUTURE USE. 

This notice contains important information about your rights and our responsibilities under the 
Fair Credit Billing Act. 

Notify Us in Case of Errors or Questions About Your Bill  

If you think your bill is wrong, or if you need more information about a transaction on your bill, 
write to us on a separate sheet of paper at Merrick Bank, P.O. Box 9201, Old Bethpage, NY 
11804-9002. Write to us as soon as possible. We must hear from you no later than 60 days after 
we sent you the first bill on which the error or problem appeared. You can telephone us, but 
doing so will not preserve your rights. 

In your letter, give us the following information:  

Your name and account number.  

The dollar amount of the suspected error.  

Describe the error and explain if you can, why you believe there is an error. If you need more 
information, describe the item you are not sure about.  

If you have authorized us to pay your credit card bill automatically from your savings or 
checking account, you can stop the payment on any amount you think is wrong. To stop the 
payment, your letter must reach us three business days before the automatic payment is 
scheduled to occur.  

Your Rights and Our Responsibilities After We Receive Your Written Notice 

We must acknowledge your letter within 30 days, unless we have corrected the error by then. 
Within 90 days we must either correct the error or explain why we believe the bill was correct. 
After we receive your letter, we cannot try to collect any amount you questioned, or report you 
as delinquent. We can continue to bill you for the amount you question, including interest 
charges, and we can apply any unpaid amount against your credit limit. You do not have to pay 
any questioned amount while we are investigating, but you are still obligated to pay the parts of 
your bill that are not in question. 

If we find that we made a mistake on your bill, you will not have to pay any interest charges 
related to any questioned amount. If we didn’t make a mistake, you may have to pay interest 
charges, and you will have to make up any missed payments on the questioned amount. In either 
case, we will send you a statement of the amount you owe and the date that it is due.  

If you fail to pay the amount that we think you owe, we may report you as delinquent. However, 
if our explanation does not satisfy you and you write to us within ten days telling us that you still 
refuse to pay, we must tell anyone we report you to that you have a question about your bill. 
And, we must tell you the name of anyone we reported you to. We must tell anyone we report 
you to that the matter has been settled between us when it finally is.  

 
 
 
 
 
 
  
 
 
 
 
 
 
  
  
 
If we don’t follow these rules, we can’t collect the first $50 of the questioned amount, even if 
your bill was correct.  

Special Rules for Credit Card Purchases  

If you have a problem with the quality of property or services that you purchased with a 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 property or services. There are two 
limitations on this right:  

a. 

You must have made the purchases in your home state or, if not within your home 

state, within 100 miles of your current mailing address; and  

b. 

The purchase price must have been more than $50. These limitations do not apply 

if we own or operate the merchant, or if we mailed you the advertisement for the property or 
services.  

22.  How We May Contact You to Discuss the Account. 
Your use of the Card or the Account, or your signature on the Card or any charge slip for any 
Purchase or Cash Advance transaction, hereby amounts to your express consent for us or our 
assignee to contact you for any purpose (including without limitation for the purpose of 
collection or servicing the Account) in any manner at any telephone number (landline or 
wireless) or physical or electronic mail address you ever provide or have provided to us.  For 
example, we or our assignee may, to the maximum degree permitted by applicable law: 

(1) 

(2) 

contact you by mail, telephone (landline or wireless), email, fax, recorded 
message, text message, short message service (SMS) and personal visit; 

contact you using an automated dialing and announcing or similar device, and to 
use artificial or prerecorded voice messages; 

(3)  modify or suppress caller ID and similar services and identify ourselves on these 

services in any manner we choose; 

(4) 

(5) 

(6) 

(7) 

(8) 

leave prerecorded and other messages on your answering machine, answering 
service, voicemail and with family members or other persons taking messages for 
you;  

contact you at your home and at your place of employment; 

contact you at any time, including weekends and holidays; 

contact you with any frequency; and 

identify ourselves, your relationship with us and our purpose for contacting you 
even if others might hear or read it. 

We may do these things whether we contact you or you contact us.   

You agree that we are not required to reimburse you for any costs or other expenses resulting 
from our communicating with you by any method described in this Agreement.  If you do not 
wish for us to use some particular manner of contacting you, you must notify us of this in 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
writing.  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, 
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) 253-2322.  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 11804-9002.  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.  Communicating with us at any other address will not 
protect your rights. 

Agreement to Arbitrate Disputes and Class Action Waiver. 

24. 
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 Agreement or your Account, except for the validity, scope or 
enforceability of this Arbitration Agreement, 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 pursuant to the code of procedures of the American Arbitration Association in effect 
at the time the Claim is filed (the “Arbitration Rules”). 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.  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. 

This agreement to arbitrate Claims 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.  

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;  

  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; and 

  Any disputes related to insurance or other services or products purchased from us in 

connection with your Account.  

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.  

The arbitrator will be required to follow relevant law and applicable judicial precedent to arrive 
at a decision and shall be empowered to grant whatever relief would be available in court. Where 
authorized by applicable law, the arbitrator’s award may include attorneys’ fees and other 
expenses. 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.  

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.  

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 American 
Arbitration Association. 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 American Arbitration Association to commence any appeal. The appeal 
panel’s decision shall be final and binding.  

In the event of a conflict between the Arbitration Rules and this Arbitration Agreement, this 
Arbitration Agreement shall govern. This Arbitration Agreement shall not apply to any Claims as 
to which the limitations herein on class actions or class-action or consolidated arbitration are not 
permitted by applicable law. If any other provision of this agreement to arbitrate should be found 
invalid or unenforceable such a determination shall not affect the enforceability of the remaining 
provisions which shall remain and continue in full force and effect.  

You may contact the American Arbitration Association 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 
335 Madison Avenue (10th Floor) 
New York, NY 10017-4605 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
Agreement.”  

or MasterCard

Cardholder 

® 

® 

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. 

Utah and Federal Law Apply to the Account. 

26. 
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. 

Jurisdiction, Venue and Service of Process. 

27. 
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 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. 

Severability. 

30. 
If any portion of this Agreement, other than the class action waiver provisions of the Arbitration 
Agreement, is deemed invalid or unenforceable, the remaining portions shall nevertheless remain 
in force.  If the class action waiver provisions of the Arbitration Agreement are deemed invalid 

  
 
 
 
 
 
 
or unenforceable, then the entire Arbitration Agreement shall be null and void but all other 
portions of this Agreement shall nevertheless remain in force. 

The Agreement Is an Integrated Agreement. 

31. 
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 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. 

“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 Billing Statement 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, 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. 

“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.  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.  If the Payment Due Date falls on a 
weekend or legal holiday, the payment will be due the following business day. 

“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 “Bonds, Rates & Yields” or the “Money Rates” section of The Wall Street Journal (or a 
comparable section or rate if The Wall Street Journal ceases publication of those sections or that 
rate). 

 
 
 
 
 
 
 
   
 
 
 
 
 
“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 and the person to whom the Card is issued. 

Equal Opportunity Lender Member FDIC  

G-13076 2/2011 

 
 
 
 
 
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  

17.45% to 29.70% when you open your account, based on 
creditworthiness. Your APR will vary with the market based on the Prime 
Rate*. 
22.45% to 34.70%.  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.  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. Based on an initial credit limit of $500, the initial 
available credit will be about $377 (based on a one-time $75 set-up fee and a 
$48 annual fee) or about $365 dollars 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 $35 
Up to $35 
Up to $35 

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 .04780% to .08136%; Daily Periodic Rate for Cash Advances .06150% to 
.09506%. 
Variable Rate Information:  Purchase Margin 14.20 to 26.45 percentage points; Cash Advance Margin 19.20 to 31.45 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. 
*The "Prime Rate" used to determine your APRs is the Prime Rate published in the  “Bonds, Rates & Yields” or the  "Money Rates" table 
of The Wall Street Journal on the last business day of each month. 
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 Item 
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 5/1/2013