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Simmons Visa Important Disclaimers | Simmons Bank

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simmons visa important disclaimers

SIMMONS BANK CREDIT CARD - IMPORTANT DISCLOSURES

I understand that in order to apply for this offer I must be able to print

a copy of the Important Disclosures provided herein and by applying I

am attesting that I have read the Important Disclosures, printed a copy

and agree to be bound as specified therein.

Instant Application Electronic Signature Agreement. By submitting

your application online, you are signing the application electronically.

You agree that your electronic signature is the legal equivalent of your

written signature on the application. By clicking “Submit” you consent

to be legally bound by the terms and conditions and important

disclosures of the application. You also agree that no certification

authority is necessary to validate your Electronic Signature and that

you are authorized to enter into this agreement and be bound by its

terms.

ACCOUNT OPENING DISCLOSURES

INTEREST RATES AND INTEREST CHARGES

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9.75% Variable APR

This APR will vary with the market based on the Prime Rate.

9.75% Variable APR

This APR will vary with the market based on the Prime Rate.

13.75% Variable APR

This APR will vary with the market based on the Prime Rate.

Annual

Percentage

Rate (APR)

for

Purchases

APR for

Balance

Transfers

APR for

Cash

Advances

and

Convenience

Checks

How to

Your due date is 25 days after the close of each billing cycle.

Avoid

We will not charge you any interest on purchases if you pay

Paying

your entire balance by the due date each month. We will begin

Interest on

charging interest on cash advances, balance transfers and

Purchases

convenience checks on the transaction date.

For Credit
Card Tips
from
Consumer
Financial
Protection
Bureau

To learn more about factors to consider when applying for or

using a credit card, visit the website of Consumer Financial

Protection Bureau at 

http://www.consumerfinance.gov/learnmore.

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FEES

Annual Fee

None

Transaction
Fees

Balance
Transfer

Cash
Advance
and
Convenience
Checks

Foreign
Purchase
Transaction

Late
Payment

Returned
Payment

Penalty
Fees

During the promotional period: either $10.00 or
3% of the amount of each balance transfer,
whichever is greater. After the promotional
period: $0.

3% of the amount of each cash advance, but not
less than $4.00.

2% of each purchase transaction in US dollars.

Up to $35.00

Up to $35.00

How We Will Calculate Your Balance: We use a method called "average

daily balance (including new purchases)." For further details, please

see Additional Disclosures, below or the Credit Card Membership Rules

that will be provided to you before you can begin using your new card.

Billing Rights: Information on your rights to dispute transactions and

how to exercise those rights is provided in the Credit Card Membership

Rules that will be provided to you before you can begin using your

new card.

ADDITIONAL DISCLOSURES

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1. Finance Charges start to accrue on cash advances, convenience checks and

balance transfers as of the date the item is posted to your account. Finance

charges for purchases generally will start to accrue from the date the item

is posted to your account, however, no finance charges will accrue on new

purchases if the entire balance in your account is paid by the due date each

month.

2. We figure the interest charge on your account by applying the periodic rate

to the "average daily balance" of your account. To get the "average daily

balance" we take the beginning balance of your account each day, add any

new purchases, advances or fees, and subtract any payments or credits.

This gives us the daily balance. Then, we add up all the daily balances for

the billing cycle and divide the total by the number of days in the billing

cycle. This gives us the "average daily balance."

3. Your account has a variable rate indexed on the Prime Rate. The rate on

your account for purchases and balance transfers is the Prime Rate plus

5.00% per annum. The rate on your account for cash advances and

convenience checks is the Prime Rate plus 9.00% per annum. Your rate will

increase if the Prime Rate increases, but will only change one time per

statement cycle. If the prime rate increases variable APRs (and

corresponding DPRs) will increase. In that case you may pay more interest

and may have a higher minimum payment due. Changes in APRs (increases

or decreases) due to changes in the Prime Rate will be effective on the first

day of your next statement cycle beginning at least two days after the

change in the Prime Rate. The Prime Rate is the prime rate published in the

Money Rates column of The Wall Street Journal in effect for the second

business day prior to the beginning of each statement cycle. Variable rate

APRs are based upon the 4.75% Prime Rate in effect on October 31, 2019.

The membership services of this application are provided by Simmons

Bank, Pine Bluff, Arkansas. The applicant(s), as an inducement to issue

card, represents and warrants information in or in connection with

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application to be complete and correct, and that applicant will by

accepting the card be bound by the Credit Card Membership Rules

supplied with the card and as amended by issuer from time to time,

and applicant authorizes Simmons Bank to verify or make inquiries

regarding such application information and to furnish same to others

in routine credit manner. All of the applicants agree to be jointly and

severally liable with applicant to the extent of use of the card and to

be bound by the Card Membership Rules as amended by issuer from

time to time.

Signature(s) required for credit lines of $25,000 and above. If you

qualify for a credit line of $25,000 or above, we will send a form to you

for your signature(s) prior to mailing the card(s). Credit lines above

$25,000 will require a financial statement.

Military Lending Act: Federal law provides important protections to

members of the Armed Forces and their dependents relating to

extensions of consumer credit. In general, the cost of consumer credit

to a member of the Armed Forces and his or her dependent may not

exceed an annual percentage rate of 36%. This rate must include, as

applicable to the credit transaction or account; the costs associated

with credit insurance premiums; fees for ancillary products sold in

connection with the credit transaction; any application fee charged

(other than certain application fees for specified credit transactions or

accounts); and any participation fee charged (other than certain

participation fees for a credit card account). The minimum payment

will be the greater of (i) 1% of the New Balance plus all finance charges

and late fees assessed during the billing cycle plus any past due

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amounts, or (ii) $10. Refer to the written material you will receive in

connection with opening the account. Federal Law requires that these

disclosures be provided to you both in writing and orally. To receive

the required oral disclosures, please call 800-272-2102 and select the

option for Military Lending Act oral disclosures. These Account

Disclosures are part of and integrated with your VISA Credit Card

Agreement with Simmons Bank. We reserve the right to amend the

VISA Credit Card Agreement as permitted by law. The above rates and

fees are effective as of 10/04/2017.

INTERNET PRIVACY

While information is the cornerstone of our ability to provide superior

service at Simmons Bank, our important asset is our customer's trust.

Keeping customer information secure, and using it only as our

customers would want us to, is top priority for all of us at Simmons

Bank. Here then, is our promise:

1. We will safeguard, according to acceptable standards of security and

confidentiality, any information our customers share with us.

2. We will limit the collection and use of customer information to the

minimum we require to deliver superior service to our customers, which

includes advising our customers about our products, services, and other

opportunities, and to administer our business. We will permit only

authorized Simmons Bank employees, who are trained in the proper

handling of customer information, to have access to that information.

3. We will always maintain control over the confidentiality of our customer

information.

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4. You can visit our website and find out about our products and services;

read our Corporate reports, or get a news update and other value-added

services without giving us any information about yourself.

5. If you do provide personal information, such as address, e-mail, telephone

and fax numbers, as well as demographics and customer identification, we

will not disclose (share, sell or divulge) it to external organizations unless

we have informed you, been authorized by you, or are required to do so by

activities and transactions, according to our usual strict security and

confidentiality standards.

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