FR833282333_LORD & TAYLOR CREDIT CARD 
T&C PLCC PDF
9/14

SYNCHRONY BANK
RATES AND FEES TABLE 
LORD & TAYLOR CREDIT CARD ACCOUNT AGREEMENT
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage  
Rate (APR) for Purchases

25.49%

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 $1.00.

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 
LORD & TAYLOR CREDIT CARD ACCOUNT AGREEMENT

TYPES OF CHARGES. There are two types of charges (“Plans”) under your Account: regular charges (“Regular charges”) and club charges (“Club charges” or 
“Club Plan”). If a purchase you make is identified as eligible to be charged on the Club Plan, you may elect at the time of purchase to put that charge on such 
Plan. Otherwise, all charges you make will be Regular charges. Your desire to charge purchases as a Club charge must be indicated at the time of purchase. All 
other charges are Regular charges. The way we calculate the minimum payment and interest is different for each of these Plans. The other terms and conditions 
in the Agreement will apply to all Plans.

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 .06984% (APR 25.49%). 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 not charge you interest during a billing cycle on any Club Plan if:

1. You had no Club Plan balance at the beginning of the billing cycle, OR 
2. You had such a balance and you paid at least the total minimum payment 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

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.

 We apply fees to balance types as follows:

(a) late payment fees are treated as new purchases; and 
(b) debt cancellation fees are added proportionately to each balance.

  2. How to get the daily interest amount. We multiply each daily balance by the daily rate that applies.

  3.  How to get the starting balance for the next day. We add the daily interest amount in step 2 to the daily 

balance from step 1.

  4.  How to get the interest charge for the billing cycle. We add all the daily interest amounts that were charged 

during the billing cycle.

 We charge a minimum of $1.00 of interest in any billing cycle in which you owe interest. This charge is added 
proportionately to each balance type.

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.

How Fees Work 

Late Payment Fee 

Minimum Payment Calculation
Your total minimum payment is calculated as follows.

The sum of:

(A) The greater of:

(1)  $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. If you have both a regular balance and a Club Plan balance on your account, this amount will be allocated proportionately 
to each balance;

OR
(2) The sum of:

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

(i)  1% of your new balance shown on your billing statement (excluding any balance in connection with a special promotional purchase with a unique 

payment calculation, such as a Club Plan balance) plus interest charged in the current billing cycle on such balance; PLUS

(ii) Any past due amounts; PLUS 
(iii) Any late payment fees charged in the current billing cycle; 

PLUS
(b)  Any payment due in connection with a special promotional purchase with a unique payment calculation, such as a Club Plan payment. For Accounts 
with a Club Plan balance, your minimum monthly payment on such Qualifying Purchase will be the greater of $25 or 1/12 of the highest new balance 
of your Club Plan (rounded up to the next highest whole dollar) since it last had a $0 balance. However, the Club Plan payment is the new balance 
of your Club Plan if such new balance is less than $25. Under this method, the Club Plan minimum payment will not decrease as the Club Plan 
balance decreases, but it will increase if a new Club Plan charge is added to your account and such charge increases the Club Plan balance subject 
to minimum payment above a previous high. Debt cancellation fees applicable to the Club Plan balance are included in the Club Plan balance and 
must be paid each month;

PLUS
(B) Any debt cancellation fees, except for those applicable to any Club Plan balance. 

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

SECTION III: STANDARD PROVISIONS  
LORD & TAYLOR CREDIT CARD ACCOUNT AGREEMENT

ABOUT THE CREDIT CARD ACCOUNT AGREEMENT

This Agreement. This is an Agreement between you and Synchrony Bank, 170 Election Road, Suite 125, Draper, UT 84020, for your credit card account 
shown above. By opening or using your account, you agree to the terms of the entire Agreement. The entire Agreement includes the four sections of 
this document and the application you submitted to us in connection with the account. These documents replace any other agreement relating to your 
account that you or we made earlier or at the same time.

Parties To This Agreement. This Agreement applies to each accountholder approved on the account and each of you is responsible for paying the full 
amount due, no matter which one uses the account. We may treat each of you as one accountholder and may refer to each of you as “you” or “your”. 
Synchrony Bank may be referred to as “we”, “us” or “our”.

 
 
Changes To This Agreement. We may change, add or delete terms of this Agreement, including interest rates, fees and charges.

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 
Lord & Taylor locations, including on Lord & Taylor’s website, www.lordandtaylor.com.

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 Lord & Taylor stores. We may allow you to make payments over the phone but we will charge you a 
fee to make expedited phone payments. Your payment must be made in U.S. dollars by physical or electronic check, money order or a similar instrument 
from a bank located in the United States.

How To Make A Payment. You must follow the instructions for making payments provided on your billing statement. If you do not, credit of your payment 
may be delayed up to five days. Your billing statement also explains how information on your check is used.

Payment Allocation. We will apply the required total minimum payment to balances on your account using any method we choose. Any payment you 
make in excess of the required total minimum payment will be applied to higher APR balances before lower APR balances. Applicable law may require 
or permit us to apply excess payments in a different manner in certain situations, such as when your account has a certain type of special promotion.

INFORMATION ABOUT YOU 

Using and Sharing Your Information. When you applied for an account, you gave us and Lord & Taylor, LLC information about yourself that we could 
share with each other. Lord & Taylor, LLC will use the information in connection with the credit program and for things like creating and updating its records 
and offering you special benefits. More information about how we use and share information is set forth in the privacy policy for your account.

Address/Phone Change. You 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 965015, 
Orlando, FL 32896-5015. Tell us what information is wrong and why you think it is wrong. If you have a copy of the credit report that includes the wrong 
information, send us a copy. 

Default. You are in default if you make a late payment, do not follow any other term of this Agreement or become bankrupt or insolvent. If you default 
or upon your death, we may (a) request payment of the full amount due right away, (b) take legal action to collect the amounts owed, and/or (c) take any 
other action allowed. 

Disputed Amounts. The billing rights summary in section IV of this Agreement describes what to do if you think there is a mistake on your 
bill. If you send us correspondence about a disputed amount or payment, you must send it to the address for billing inquiries. We do not 
give up any rights under this Agreement if we accept a payment marked “payment in full” or given with any other conditions or limitations.

Unauthorized Use. If your card is lost, stolen or used without your consent, call us immediately at 1-866-465-8292. 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 Lord & Taylor, LLC if it relates to your account, except as noted below. 

2.  We  will  not  require  you  to  arbitrate:  (1)  any  individual  case  in  small  claims  court  or  your  state’s  equivalent  court,  so  long  as  it  remains  an 
individual case in that court; or (2) a case we file to collect money you owe us. However, if you respond to the collection lawsuit by claiming any 
wrongdoing, we may require you to arbitrate.

3.  Notwithstanding any other language in this section, only a court, not an arbitrator, will decide disputes about the validity, enforceability, coverage 
or scope of this section or any part thereof (including, without limitation, the next paragraph of this section and/or this sentence). However, any 
dispute or argument that concerns the validity or enforceability of the Agreement as a whole is for the arbitrator, not a court, to decide.

• No Class Actions

YOU AGREE NOT TO PARTICIPATE IN A CLASS, REPRESENTATIVE OR PRIVATE ATTORNEY GENERAL ACTION AGAINST US IN 
COURT OR ARBITRATION. ALSO, YOU MAY NOT BRING CLAIMS AGAINST US ON BEHALF OF ANY ACCOUNTHOLDER WHO IS 
NOT AN ACCOUNTHOLDER ON YOUR ACCOUNT, AND YOU AGREE THAT ONLY ACCOUNTHOLDERS ON YOUR ACCOUNT MAY 
BE JOINED IN A SINGLE ARBITRATION WITH ANY CLAIM YOU HAVE. 

If a court determines that this paragraph is not fully enforceable, only this sentence will remain in force and the remainder will be null and void, and 
the court’s determination shall be subject to appeal. This paragraph does not apply to any lawsuit or administrative proceeding filed against us by 
a state or federal government agency even when such agency is seeking relief on behalf of a class of borrowers, including you. This means that 
we will not have the right to compel arbitration of any claim brought by such an agency.

• How to start an arbitration, and the arbitration process

1.  The  party  who  wants  to  arbitrate  must  notify  the  other  party  in  writing.  This  notice  can  be  given  after  the  beginning  of  a  lawsuit  or  in   
papers  filed  in  the  lawsuit.  Otherwise,  your  notice  must  be  sent  to  Synchrony  Bank,  Legal  Operation,  P.O.  Box  29110,  Shawnee  Mission, 
KS 66201-5320, 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,  1-800-778-7879,  or  JAMS,   
620 Eighth Avenue, 34th Floor, New York, NY 10018, www.jamsadr.com, 1-800-352-5267. 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 Synchrony Bank, 
P.O. Box 965012, Orlando, FL 32896-5012. This is the only way you can reject this section.

SECTION IV: OTHER IMPORTANT INFORMATION 
LORD & TAYLOR 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_LORD & TAYLOR CREDIT CARD 
T&C PLCC PDF
9/14