Pricing Information Addendum 

Interest Rates and Interest Charges 

Annual Percentage Rate (APR) 
for Purchases  

Prime Rate plus 9.99% to Prime Rate plus 18.99%. 

This APR will vary with the market based on the Prime Rate. 

APR for Balance Transfers 

Prime Rate plus 9.99% to Prime Rate plus 18.99%. 

This APR will vary with the market based on the Prime Rate. 

APR for Cash Advances 

Prime Rate plus 19.99%. 

Penalty APR and When it 
Applies 

Paying Interest 

This APR will vary with the market based on the Prime Rate. 

Prime Rate plus 23.99%. 

This APR will vary with the market based on the Prime Rate. 

This APR may be applied to your account if you  

1) Make a late payment; or 

2) Make a payment that is returned. 

How Long Will the Penalty APR Apply?: If your APRs are increased, the 
Penalty APR will apply until you make six consecutive minimum payments 
when due. 

Your due date is at least 22 days after the close of each billing cycle. We will not 
charge you any interest on purchases if you pay your entire balance by the due date 
each month.  We will begin charging interest on cash advances and balance 
transfers on the transaction date. 

Minimum Interest Charge 

If you are charged interest on purchases, the charge will be no less than $0.50.  

Fees 

Annual Fee 

Transaction Fees 

  Balance Transfer 

  Cash Advance 

None 

Either $5 or 4% of the amount of each Balance Transfer, whichever is greater. 

Either $10 or 4% of the amount of each Cash Advance, whichever is greater. 

 

International Transaction 

3% of each transaction in U.S. dollars. 

Penalty Fees 

  Late Payment 

  Returned Payment 

Up to $35 

Up to $35 

How We Will Calculate Your Balance: We use a method called "daily balance (including new transactions).”  

 
 
 
 
 
 
 
 
 
 
 
 
CARDHOLDER AGREEMENT 

Retail Instalment Credit Agreement 
1. YOUR MINI VISA® CARD AGREEMENT: This is the Cardholder Agreement (the “Agreement”) that establishes the 
terms of your Cardholder Account (“Account”) with BMW Bank of North America, P.O. Box 9210,Old Bethpage, NY 11804. 
Please read it carefully and keep it for your records. The application or pre-approved acceptance you signed or otherwise 
submitted (including the accompanying federal and state notices), your Card, the Card Carrier we send with your Card, the 
Summary of Terms we provide on or with your Card Carrier and your signature (including any digital or electronic signature) 
on the application or pre-approved acceptance, your Card, and any sales slip or other evidence of indebtedness are part of 
and are incorporated into this Agreement. Any use of your Card or Account constitutes your acceptance of the terms and 
conditions of this Agreement. This Agreement begins on the earlier of (a) the date you sign or otherwise submit an 
application or pre-approved acceptance that is approved by us or (b) the first date that you or someone authorized by you 
uses the Account in a transaction that we approve (in NY, the first date that you or someone authorized by you signs a sales 
slip or memorandum or the first date that another document is issued to you or someone authorized by you as evidence of a 
transaction on your Account that we approve). 

2. CERTAIN DEFINITIONS: In this Agreement, the words “you” and “your” refer to each person (jointly and severally if 
more than one) who has applied for the Account and any other person who has agreed to be responsible for the Account. 
The words “we”, “us” and “our” refer to BMW Bank of North America, its agents, successors or assigns. “Card” refers to 
each Visa Card that is issued by us for your Account. The term “Check” refers to a convenience check, a written Credit 
Device that we may issue to you. The term “Credit Device” refers to a Check, payee-designated check, draft, order, or other 
instrument or transaction that accesses the Account, other than a Card.  Any Card or Credit Device must be destroyed or 
returned to us immediately upon our request. 

3. USING YOUR ACCOUNT: You may use your Card or Account to purchase or lease goods or services or pay amounts 
you owe (collectively, “Purchases”) wherever the Card is honored. From time to time we may offer you the opportunity to 
use your Account or a Credit Device to pay amounts you owe under accounts with other creditors (“Balance Transfers”). 
You may also use your Card or a Check to obtain cash loans (“Cash Advances”) from any financial institution that accepts 
the Card.   

You may obtain a Cash Advance by writing a Check.  Checks will not be subject to any stop payment order and will not be 
returned to you.  Each Check may be used only by the person(s) whose name(s) is/are printed on it.  Each Check must be 
completed and signed by you (or either of you) in the same manner as a regular personal check.  You may not use any 
Check we issue to you to pay any amount you owe under your Cardholder Agreement or under any other credit agreement 
or account you may have with us. In addition to Check transactions, the following transactions will be treated as Cash 
Advances:   

–  obtaining cash from participating Automated Teller Machines (“ATM”) 
–  obtaining cash from participating financial institutions nationwide that have agreed with Visa to allow you to use 

your Card to obtain cash;   

–  obtaining money orders, wire transfers, casino or gaming chips, travelers’ checks, foreign currency, vouchers 

redeemable for cash or similar items.  

You may not use your Card or Account for online or internet gambling or for any illegal purpose. 

4. OBLIGATIONS ON YOUR ACCOUNT: You authorize us to pay and charge your Account for all Purchases, Balance 
Transfers and Cash Advances made or obtained by you or anyone you authorize or by anyone who has apparent authority to 
use your Card or Account. You promise to pay us for all of these Purchases, Balance Transfers and Cash Advances, plus 
any interest assessed on your Account and any other charges and fees you may owe under the terms of this Agreement. 
You will be obligated to pay authorized charges to your Account whether resulting from (a) actual use of your Card or a 
Credit Device, (b) mail order or telephone, internet or other electronic Purchases made without presenting the Card or (c) any 
other circumstance where you authorize a charge, or authorize someone else to make a charge, to your Account.  

5. JOINT ACCOUNTS: If this is a joint Account, each of you has the right to use the Account as provided for in this 
Agreement and is individually responsible to pay the entire balance due. Either of you may give us notices required or make 
requests permitted under this Agreement. If each of you gives us notices or makes requests, and those notices or requests 
are conflicting, we may honor or refuse to honor either request at our option. We can do so without notice to any person(s). 
We will not be liable for honoring or refusing to honor any conflicting request. We may require that you pay the full amount 
owed without our first asking the other person(s) to pay. 

6. CREDIT LIMIT: Your maximum amount of credit we will extend to you (“Credit Limit”) is initially shown on the Card 
Carrier containing your Card. We may designate that only a portion of your Credit Limit is available for Cash Advances 
(“Cash Advance Credit Limit”) and you agree not to exceed that limit.  Therefore, since we may change any applicable 
Credit Limit from time to time, your latest Credit Limit(s) will appear on your Monthly Statement. You agree not to make a 

 
 
 
 
 
 
 
 
Purchase or obtain a Balance Transfer or a Cash Advance that would cause the unpaid balance of your Account (including 
interest, fees and other charges) to exceed any applicable Credit Limit.  We may honor Purchases, Balance Transfers and 
Cash Advances in excess of any applicable Credit Limit at our sole discretion. If we do, this Agreement also applies to that 
excess and you agree to pay that excess immediately upon request.  The fact that we may at any time honor a Purchase, 
Balance Transfer or Cash Advance in excess of the applicable Credit Limit does not obligate us to do so again. 

Subject to any restrictions under applicable law, you agree that we may change or cancel any applicable Credit Limit at any 
time without affecting your obligation to pay all amounts owed under this Agreement. For security reasons, we may limit the 
number or dollar amount of transactions that may be accomplished with your Card, Account or any Credit Device, and we 
have the right to limit authorizations to complete such transactions if we consider it necessary to verify payments received.  

7. MONTHLY STATEMENTS: We will send a statement at the end of each monthly billing cycle (“Monthly Statement”) in 
which your Account has a debit or credit balance of more than $1 or if interest has been imposed, or as required by 
applicable law. Among other things, your Monthly Statement will show your New Balance, any interest, any Credit Limit(s) 
and credit available, the minimum amount you must pay (“Minimum Payment Due”) and the date when payment is due 
(“Payment Due Date”). Interest and fees, however, will continue to accrue whether or not we send you a Monthly 
Statement. 

8. PAYMENT ON ACCOUNT: Except as otherwise provided in this Agreement or any promotional offer, you must pay at 
least the Minimum Payment Due each billing cycle that there is a balance on your Account. See your Summary of Terms for 
an explanation of how we calculate your Minimum Payment Due.  You may pay more than the Minimum Payment Due 
and may at any time pay the full amount you owe us without incurring any additional charge.  All payments must be 
made in U.S. dollars. Any payment made by check or other negotiable instrument must be drawn on a U.S. bank or a U.S. 
branch of a foreign bank. 

If we receive a payment on your Account at the address shown on your Monthly Statement before 5:00 p.m. on any 
Processing Day or if you make a payment by telephone or internet your payment will be considered made on the date 
received. The term “Processing Day” refers to any Monday through Friday, excluding federal and state banking holidays on 
which we are not open for business.  Your payment will not be considered received by us if the payment is later dishonored. 
Payments made by mail received at a location other than the payment address shown on the Monthly Statement may be 
delayed by up to five Processing Days. 

Payments posted to your Account may not immediately result in additional available credit. Subject to any restrictions of 
applicable law, we will apply your payments to the balances in your Account in whatever manner we determine.  Generally, 
payment amounts that exceed the required Minimum Payment Due will be allocated to balances with higher Annual 
Percentage Rates (“APR”) (including new transactions) before balances with lower APRs.  

9. INTEREST: When your Account has a balance subject to interest (as described in Section 11 below), we will calculate 
interest by applying a daily periodic rate to that balance. If you owe interest in any billing cycle, the charge will be no less 
than the minimum interest charge stated in the Summary of Terms. 

10.  PERIODIC RATES:  We will use one or more daily periodic rates to calculate how much interest you owe.  Your periodic 
rates and corresponding APRs will vary. The daily periodic rate is a rate equal to the APR divided by the number of days in 
that year.  Except as otherwise provided in a promotional offer, the rate for Purchases (“Purchase Rate”), the rate for Cash 
Advances (“Cash Advance Rate”), and the rate for Balance Transfers (“Balance Transfer Rate”) will be the rates shown 
in the Summary of Terms. Please see your Summary of Terms for details, including the current periodic rates and 
corresponding APRs.  

Penalty Rate - The periodic rates and corresponding APRs on all balances will increase to the “Penalty Rate” (as described 
in your Summary of Terms) if: (a) your required Minimum Payment Due is not credited to your Account within five (5) days of 
the Payment Due Date or (b) a payment on your Account is not honored by your bank or other financial institution.   If the 
Penalty Rate is applied, it will apply to your Account until you have made the Minimum Payment Due by the Payment Due 
Date for six (6) consecutive months.  

Variable Rate – Except as provided in a promotional offer, the periodic rates and corresponding APRs on your account will 
vary with the market based on the highest domestic bank “prime rate” as published in the “Money Rates” section of The Wall 
Street Journal (the “Prime Rate”).  We determine your APRs for each billing cycle by adding the “Margins” described and 
shown in the Summary of Terms to the Prime Rate published two days prior to the billing cycle closing date.  If the Prime 
Rate increases, the daily periodic rates and corresponding APRs may increase, and as a result, the interest, the Minimum 
Payment Due, and the number of payments required to repay all amounts owed on the Account also may increase.  Any new 
periodic rate will apply to the existing balance of your Account to the extent permitted by applicable law.   

11. BALANCE SUBJECT TO INTEREST RATE: We will figure interest on your Account by applying the periodic rate to the 
“daily balance” of your Account for each day in the billing cycle. To get the “daily balance”, we take the beginning balance of 

 
 
 
 
 
 
 
 
 
 
your Account each day, add any new Purchases, Cash Advances, Balance Transfers, and/or applicable fees, and subtract 
any payments and/or credits.  This gives us the “daily balance.”  This Agreement provides for the compounding of interest. 

12. WHEN INTEREST BEGINS TO ACCRUE: Except as provided below, interest on Purchases, Cash Advances and 
Balance Transfers will accrue from the date of the transaction (or, at our option, from the date they are posted to your 
Account).   

Purchases –You will not have to pay interest on Purchases if you pay your New Balance in full by the Payment Due Date 
shown on your Monthly Statement, which shall be not less than 22 days after the close of the billing cycle.  

Cash Advances and Balance Transfers – Unless otherwise disclosed in a promotional offer, there is no period in which 
credit extended may be paid without incurring interest on Cash Advances or Balance Transfers.  

13. FEES: 

Annual Fee – If applicable, you agree to pay us when billed each year (subject to applicable federal law) a non-refundable 
Annual Fee in the amount stated in the Summary of Terms.  Your payment of this fee will not affect any of our rights under 
this Agreement, including our right to terminate your Account. 

Transaction Fees — Unless otherwise disclosed in a promotional offer, we will charge a one-time transaction fee for each 
Balance Transfer and Cash Advance. The calculation of these fees is described in the Summary of Terms. The fee for a 
Balance Transfer will be added to your Balance Transfer balance. The fee for a Cash Advance will be added to your Cash 
Advance balance. 

Penalty Fees — If we do not receive a payment from you in at least the amount of your Minimum Payment Due by the 
Payment Due Date shown on your Monthly Statement, we may charge you a Late Payment Fee (as described in your 
Summary of Terms).  If your bank does not honor the payment you give us, or we must return a payment because it is 
unsigned or otherwise irregular, we may charge you a Returned Payment Fee (as described in your Summary of Terms).  
The amount of the Late Payment or Returned Payment Fee will be $25 for the first occurrence and $35 for any subsequent 
occurrence within six (6) billing cycles.  No Penalty Fee will exceed the lesser of the amount stated in the Summary of Terms 
or the amount of the Minimum Payment Due when the payment was late or returned.  We will charge only one Penalty Fee 
for any single event or transaction, even if it involves a late and returned payment in one cycle.  

Administrative Fees — You may be charged administrative fees for photocopies of sales slips, duplicate copies of Monthly 
Statements, for the expedited mailing or replacement of your Card and for any EMV or “chip” card you request. These fees 
will be disclosed to you at the time of the request. 

14. DEFAULT/COLLECTION COSTS: Subject to any restrictions of applicable law, your Account will be in default and we 
may demand immediate payment of the entire amount you owe us without giving you prior notice if: (a) in any month we do 
not receive your Minimum Payment Due by the Payment Due Date; (b) you otherwise fail to comply with this Agreement; (c) 
there is a filing for your bankruptcy; (d) you die or become incapacitated; or (e) we believe in good faith that the payment or 
performance of your obligations under this Agreement is impaired for any other reason. To the extent the state where you 
live permits the charging of such fees and costs, you agree to pay all collection expenses actually incurred by us in the 
collections of amounts you owe under this Agreement (including court costs and the fees of any collection agency to which 
we refer your Account) and, if we refer your Account after your default to an attorney who is not our regularly salaried 
employee, you agree to pay the reasonable fees of such attorney. We will not be obligated to honor any attempted use of 
your Account if default has occurred or we have determined to terminate your Account or limit your Account privileges (as 
discussed in Section 15 below). WISCONSIN RESIDENTS: We will not charge you attorneys' fees, court costs, or other 
collection costs incurred as a result of your default. 

15. TERMINATION: Subject to any restrictions of applicable law, we may terminate your privileges under this Agreement or 
limit your right to make Purchases, obtain Cash Advances or initiate Balance Transfers at any time without notice or liability. 
If we ask, you must destroy your Cards and any unused Credit Devices. You agree that you will not try to make a Purchase, 
obtain a Cash Advance or initiate a Balance Transfer after you have been notified that your privilege to use your Account has 
been terminated. You may terminate this Agreement at any time. If you do, you must destroy all Cards and Credit Devices 
previously issued on the Account. If you call us, we may require that you confirm your intent to terminate in writing. 
Termination of your Account (by you or us) will not affect your existing obligations under this Agreement or your liability for all 
amounts owed under the terms of this Agreement. 

16. NOTICES: We will send Monthly Statements and any other notices to you at the address shown in our files. If this is a 
joint Account, we can send Monthly Statements and notices to either of you, unless otherwise required by applicable law. 
You promise to inform us promptly in writing of any change in your address. We may, at our discretion, accept address 
corrections from the United States Postal Service. 

 
 
 
 
 
 
 
 
 
 
 
 
17. INTERNATIONAL TRANSACTIONS - FEE AND FOREIGN CURRENCY CONVERSION RATE: You may use your Card 
and your Account for Purchases and Cash Advances that qualify as “International Transactions” under this Agreement. For 
purposes of this Agreement, “International Transactions” include (a) Purchases and Cash Advances made in currencies 
other than U.S. Dollars from participating Visa merchants and (b) Purchases and Cash Advances made in U.S Dollars from 
participating Visa merchants located outside the U.S. For purposes of this Agreement, Purchases and Cash Advances made 
in U.S. Dollars from participating Visa merchants located in a U.S. territory, U.S. military base, U.S. embassy, or U.S. 
consulate are not deemed to be International Transactions.  

Each time you use your Card or Account to make an International Transaction, you agree to pay the International 
Transaction Fee stated in your Summary of Terms, whether the transaction is originally made in U.S. Dollars or converted to 
U.S. Dollars from a foreign currency.  

For International Transactions converted to U.S. Dollars from a foreign currency, you agree to pay the converted amount plus 
the International Transaction Fee stated in your Summary of Terms. Conversion to U.S. Dollars may occur on a date other 
than the date of the transaction; therefore, the currency conversion rate may be different from the rate in effect at the time of 
the transaction. Visa®, and not us, determines the currency conversion rate that is used. 

Transactions made in currencies other than U.S. Dollars will be converted to U.S. Dollars under the regulations established 
by Visa Inc. in effect at the time the transaction is processed by Visa®. Current Visa® regulations in effect provide that the 
currency conversion rate will be either a rate selected by Visa® from the range of rates available in wholesale currency 
markets, which rate may vary from the rate Visa itself receives, or the government-mandated rate, as applicable, in each 
instance effective one day before the applicable Central Processing Date. 

18. SKIP/PROMOTIONAL FEATURES: From time to time, we may let you skip or reduce one or more Minimum Payments 
Due during a year and/or we may temporarily reduce or eliminate interest on all or a portion of the outstanding balances on 
your Account or offer you other special terms. If we do, we will advise you of the scope and duration of the applicable skip or 
promotional feature. We will end the skip or promotional feature and apply your regular rates and terms to the extent 
permitted by applicable law.  

19. CHANGES TO THIS AGREEMENT: Subject to applicable law, we can change the terms of, add new terms to, or 
delete terms from this Agreement at any time.  We will give you notice of the change, addition or deletion as 
required by applicable law.  As permitted by applicable law, any change, addition, or deletion to this Agreement will 
become effective at the time stated in our notice.  Unless we state otherwise, the change, addition, or deletion will apply to all 
outstanding balances on your Account as well as to new transactions to the extent permitted by applicable law.  

20. CREDIT REPORTING; INACCURATE INFORMATION: You are hereby notified that a negative credit report reflecting on 
your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.  If you 
believe that we have information about you that is inaccurate or that we have reported or may report to a credit reporting 
agency information about you that is inaccurate, please notify us of the specific information that you believe is inaccurate by 
writing to us at BMW Bank of North America, P.O. Box 9210, Old Bethpage, NY 11804. 

21. TELEPHONE MONITORING AND RECORDING: In the regular course of our business we may monitor and record 
phone conversations made or received by us. You agree that we will have such right with respect to all phone conversations 
between you and us, whether initiated by you or us.  Subject to any restrictions of applicable law, you agree that we may 
contact you for any reason regarding your Account, including collection of payments, using (i) any contact information, 
including, but not limited to, an email address or cell phone number you provide at the time of application or in the future and 
(ii) an automated telephone dialing system and/or artificial or prerecorded voice message, even if you are charged for the call 
under your phone plan, unless you call us at 888-463-6464 to limit this consent. 

22. REFUSAL TO HONOR CARD: We are not responsible for refusals to honor your Card or Credit Devices. And, except as 
otherwise required by applicable law or regulation, we will not be responsible for merchandise or services purchased or 
leased through use of your Account. 

23. IRREGULAR PAYMENTS: We can accept late payments, partial payments, checks and money orders marked “Paid in 
Full” or language having the same effect without losing any of our rights under this Agreement. No payment shall operate 
as an accord and satisfaction without our prior written approval. All written communications concerning disputed 
amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in 
full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed 
amount, must be mailed or delivered to BMW Bank of North America, 2735 E. Parleys Way, Suite 301, Salt Lake City, 
UT 84109-1666. 

24. LIABILITY FOR UNAUTHORIZED USE OF YOUR CARD OR ACCOUNT: If you notice the loss or theft of your Card or 
a possible unauthorized use of your Card or Account, you should write to us immediately at MINI Card Services, P.O. Box 
9210, Old Bethpage, NY 11804 or call us (toll free) at  866-4MY-MINI or (collect) at 614-210-8730. You will not be liable for 

 
 
 
 
 
 
 
 
 
 
any such unauthorized use that occurs after you notify us. You may, however, be liable for such unauthorized use that 
occurs before you notify us. In any case, your liability for such unauthorized use will not exceed $50. 

25. ASSIGNMENT: We may at any time assign your Account, any sums due on your Account, this Agreement or our rights 
or obligations under this Agreement. The person(s) to whom we make any such assignment shall be entitled to all of our 
rights under this Agreement, to the extent assigned.  You may not assign your Account or any of your rights or obligations 
under this Agreement. 

26. NO WAIVER; ENTIRE AGREEMENT: Our failure to exercise any of our rights under this Agreement, our delay in 
enforcing any of our rights, or our waiver of our rights on any occasion shall not constitute a waiver of such rights on any 
other occasion. This Agreement, together with all documents incorporated herein, is the entire agreement between you and 
us relating to your Account.  This Agreement cannot be changed except as explained this Agreement. 

27. GOVERNING LAW: THIS AGREEMENT AND YOUR ACCOUNT, AND ANY CLAIM, DISPUTE OR CONTROVERSY 
ARISING FROM OR RELATING TO THIS AGREEMENT OR YOUR ACCOUNT, WHETHER BASED ON CONTRACT, 
TORT, FRAUD AND OTHER INTENTIONAL TORTS, STATUTE, REGULATION, CONSTITUTION, COMMON LAW 
AND/OR EQUITY, ARE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF 
UTAH (WITHOUT REGARD TO INTERNAL PRINCIPLES OF CONFLICTS OF LAW) AND APPLICABLE FEDERAL LAW. 
THE LEGALITY, ENFORCEABILITY AND INTERPRETATION OF THIS AGREEMENT AND THE AMOUNTS 
CONTRACTED FOR, CHARGED AND RECEIVED UNDER THIS AGREEMENT WILL BE GOVERNED BY SUCH LAWS. 
THIS AGREEMENT IS ENTERED INTO BETWEEN YOU AND US IN UTAH. WE MAKE DECISIONS ABOUT GRANTING 
CREDIT TO YOU FROM, EXTEND CREDIT TO YOU UNDER THIS AGREEMENT FROM, AND ACCEPT YOUR 
PAYMENTS IN, UTAH. 

28. HEADINGS; CAPTIONS: Section and paragraph headings and captions used in this Agreement are for convenience and 
reference purposes only, and do not limit or affect the meaning of the provisions in this Agreement.  Unless the context 
specifically requires otherwise, the use of the singular in this Agreement includes the plural (and vice versa). 

29. INQUIRIES OR QUESTIONS: You may address any inquiries or questions which you have about your Account to BMW 
Bank of North America, P.O. Box 9210, Old Bethpage, NY 11804, or you may call us at 866-4MY-MINI. If you contact us by 
telephone instead of writing, you may lose certain rights the law gives you to dispute billing errors (see the billing rights notice 
below). 

MARYLAND RESIDENTS: Finance charges will be imposed on the outstanding balances from month to month in amounts 
or at rates not in excess of those permitted by law. You have the right under Maryland Commercial Law Code Section 12-510 
to receive an answer to a written inquiry concerning the status of your Account. 

NEW JERSEY RESIDENTS: Because certain provisions of this Agreement are subject to applicable law, they may be void, 
unenforceable or inapplicable in some jurisdictions. None of these provisions, however, is void, unenforceable or inapplicable 
in New Jersey. 

OHIO RESIDENTS: The Ohio laws against discrimination require that all creditors make credit equally available to all credit 
worthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The 
Ohio civil rights commission administers compliance with this law. 

WISCONSIN RESIDENTS: No provision of a marital property agreement, a unilateral statement under section 766.59 or a 
court decree under section 786.70 adversely affects the interest of the creditor unless the creditor, prior to the time the credit 
is granted, is furnished a copy of the agreement, statement or decree or has actual knowledge of the adverse provision when 
the obligation to the creditor is incurred. 

NOTICE TO THE BUYER: 
1.  Do not sign this credit agreement before you read it or if it contains any blank space. 
2.  You are entitled to a completely filled in copy of the credit agreement. 

RETAIL INSTALMENT CREDIT AGREEMENT 
Your signature (including any digital or electronic signature), address and the date on the application, pre-approved 
acceptance, Card, sales slip or other evidence of indebtedness, or your acceptance of this Agreement through an electronic 
transmission to us represents your signature, address and the date on this Agreement, which are incorporated herein by 
reference. 

END OF CARDHOLDER AGREEMENT 

YOUR BILLING RIGHTS: Keep This Document For Future Use 

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act. 

 
 
 
 
 
 
 
 
 
 
 
 
 
What to Do If You Find a Mistake on Your Statement 

If you think there is an error on your statement, write to us at: 

BMW Bank of North America 
P.O. Box 9210 

  Old Bethpage, NY 11804  
In your letter, give us the following information: 
  Account information: Your name and account number. 
  Dollar amount: The dollar amount of the suspected error. 
  Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you 

believe it is a mistake. 

You must contact us: 
  Within 60 days after the error appeared on your statement. 
  At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you 

think is wrong. 

You must notify us of any potential errors in writing. You may call us, but if you do we are not required to investigate any 

potential errors and you may have to pay the amount in question. 
What Will Happen After We Receive Your Letter 

When we receive your letter, we must do two things: 
1.  Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have 

already corrected the error.  

2.  Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is 

correct. 

While we investigate whether or not there has been an error: 
  We cannot try to collect any amount in question, or report you as delinquent on that amount.  
  The charge in question may remain on your statement, and we may continue to charge you interest on that amount.  
  While you do not have to pay the amount in question, you are responsible for the remainder of your balance. 
  We can apply any unpaid amount against your credit limit. 
After we finish our investigation, one of two things will happen: 
 
amount.  
 

If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest 
and fees. We will send you a statement of the amount that you owe and the date payment is due. We may then report you as 
delinquent if you do not pay the amount we think you owe. 

If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that 

If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still 
refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We 
must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when 
the matter has been settled between us. 

If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question, even if your bill 

is correct. 
Your Rights If You Are Dissatisfied With Your Credit Card Purchases 

If  you  are  dissatisfied  with  the  goods  or  services  that  you  have  purchased  with  your  credit  card  and  you  have  tried  in 
good  faith  to  correct  the  problem  with  the  merchant,  you  may  have  the  right  not  to  pay  the  remaining  amount  due  on  the 
purchase.  

To use this right, all of the following must be true: 
1.  The purchase must have been made in your home state or within 100 miles of your current mailing address, and the 
purchase  price  must  have  been  more  than  $50.  (Note:  Neither  of  these  are  necessary  if  your  purchase  was  based  on  an 
advertisement we mailed to you, or if we own the company that sold you the goods or services.) 

2.  You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a 

check that accesses your credit card account do not qualify. 
3.  You must not yet have fully paid for the purchase. 
If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at:  

BMW Bank of North America 
P.O. Box 9210 

  Old Bethpage, NY 11804  
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, 
we  will  tell  you  our  decision.  At  that  point,  if  we  think  you  owe  an  amount  and  you  do  not  pay,  we  may  report  you  as 
delinquent. 

 
 
 
 
Summary of Terms 

Interest Rates and Interest Charges 

Annual Percentage Rate (APR) 
for Purchases  

X.XX% introductory APR for 6 months.  

After that, your APR will be XX.XX%. This APR will vary with the market 
based on the Prime Rate. 

APR for Balance Transfers 

XX.XX% 

This APR will vary with the market based on the Prime Rate. 

APR for Cash Advances 

XX.XX% 

Penalty APR and When it 
Applies 

Paying Interest 

This APR will vary with the market based on the Prime Rate. 

XX.XX% 

This APR will vary with the market based on the Prime Rate. 

This APR may be applied to your account if you  

1) Make a late payment; or 

2) Make a payment that is returned. 

How Long Will the Penalty APR Apply?: If your APRs are increased, the 
Penalty APR will apply until you make six consecutive minimum payments 
when due. 

Your due date is at least 22 days after the close of each billing cycle. We will not 
charge you any interest on purchases if you pay your entire balance by the due date 
each month.  We will begin charging interest on cash advances and balance 
transfers on the transaction date. 

Minimum Interest Charge 

If you are charged interest on purchases, the charge will be no less than $0.50.  

For Credit Card Tips from the 
Consumer Financial Protection 
Bureau 

To learn more about factors to consider when applying for or using a credit card, visit 
the website of the Consumer Financial Production Bureau at 
http://www.consumerfinance.gov/credit-cards/. 

Fees 

Annual Fee 

Transaction Fees 

  Balance Transfer 

  Cash Advance 

None 

Either $5 or 4% of the amount of each Balance Transfer, whichever is greater. 

Either $10 or 4% of the amount of each Cash Advance, whichever is greater. 

 

International Transaction 

3% of each transaction in U.S. dollars. 

Penalty Fees 

  Late Payment 

  Returned Payment 

Up to $35 

Up to $35 

How We Will Calculate Your Balance: We use a method called "daily balance (including new transactions).”  

Loss of Introductory APR: We may end your introductory APR and apply the Penalty APR if you make a late payment.  

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your 
Cardholder Agreement. 

 
 
 
 
 
 
 
 
 
 
 
 
 
Margins and Periodic Rates with Corresponding APRs: 

Introductory 
Rate 

Purchase Rate 

Balance Transfer 
Rate  

Cash Advance 
Rate 

Penalty Rate 

Margin 

[XX.XX]% 

[XX.XX]% 

[XX.XX]% 

[XX.XX]% 

[XX.XX]% 

Periodic Rate 

[X.XXXX]% 
(corresponding 
APR of [XX.XX]%) 

[X.XXXX]% 
(corresponding 
APR of [XX.XX]%) 

[X.XXXX]% 
(corresponding 
APR of [XX.XX]%) 

[X.XXXX]% 
(corresponding 
APR of [XX.XX]%) 

[X.XXXX]% 
(corresponding 
APR of [XX.XX]%) 

This “Summary of Terms” is incorporated into and made a part of your BMW Bank of North America Cardholder Agreement.