Credit Card Agreement for Consumer Secured Cards in Capital One® Bank (USA), N.A.
There are two parts to this Credit Card Agreement: Capital One Pricing Information and the Capital One Customer 
Agreement. The Pricing Information shows a range of terms that includes both mail and online offers for new accounts 
available under this Agreement as of December 31, 2019. The combination of terms that could apply to you will differ 
depending on the specific card offer and on your creditworthiness at the time of application. The Customer Agreement 
contains important information related to consumer credit cards issued by Capital One Bank (USA), N.A. Please visit  
www.capitalone.com to view our online credit card offers. If you are a current Capital One cardholder, please log in to your 
account if you would like to request the Credit Card Agreement for your account(s).

CAPITAL ONE PRICING INFORMATION 
26.99%.
This APR will vary with the market based on the Prime Rate.

Annual Percentage Rate 
(APR) for Purchases

APR for Transfers

26.99%.

This APR will vary with the market based on the Prime Rate.

APR for Cash Advances 26.99%.

This APR will vary with the market based on the Prime Rate.

Paying Interest

Your due date is at least 25 days after the close of each billing cycle. We will not charge interest 
on new purchases, provided you have paid your previous balance in full by the due date each 
month. We will begin charging interest on cash advances and transfers on the transaction date.

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 Protection Bureau at  
http://www.consumerfinance.gov/learnmore.

Annual Fee

None.

Transaction Fees
• Transfer
• Cash Advance

Penalty Fees
• Late Payment

None.
Either $10 or 3% of the amount of each cash advance, whichever is greater. 

Up to $39. 

How Do You Calculate My Balance? We use a method called “average daily balance (including new transactions).” See “How 
Do You Calculate The Interest Charge?” section below.
What Are My Billing Rights? Information on your rights to dispute transactions and how to exercise those rights is provided 
in the “Your Billing Rights” section in the Customer Agreement.

THINGS YOU SHOULD KNOW ABOUT THIS CARD

How Do You Calculate Variable Rates? Your variable rates may change when the Prime Rate changes. We calculate 
variable rates by adding a percentage to the Prime Rate published in The Wall Street Journal on the 25th day of December, 
March, June and September. If the Journal is not published on that day, then see the immediately preceding edition. Variable 
rates on the following segment(s) will be updated quarterly and will take effect on the first day of your January, April, July and 
October billing periods: Purchase APR: Prime plus 21.99%; Transfer APR: Prime plus 21.99%; Cash Advance APR: Prime 
plus 21.99%. Any increase in the Prime Rate may increase your Interest Charges and your Minimum Payment.
What Are The Daily Periodic Rates Used To Calculate My Interest? The daily periodic rate for your Purchase APR is 
0.07395%, Transfer APR is 0.07395%, and Cash Advance APR is 0.07395%. See “How Do You Calculate The Interest 
Charge?” section below.
How Can I Avoid Paying Interest Charges? If you pay your statement’s “New Balance” in full by the date each month, we 
will not charge interest on any new transactions that post to the purchase balance. If you have been paying your account in 
full without interest charges, but fail to pay your next “New Balance” in full, we will charge interest on the unpaid balance. For 
cash advances and transfers, we will start charging interest on the transaction date. From time to time, we may give you offers 
that allow you to pay less than the total balance and avoid interest charges to new transactions that post to your purchase 
balance. If we do, we will provide details in the specific offer.
How Is The Interest Charge Determined? Interest charges accrue from the 1) date of the transaction, 2) date the transaction 
is processed or 3) first day of the billing period. Interest accrues daily on every unpaid amount until it is paid in full. Any 
interest that has accrued during a billing period will post to your account at the end of the billing period and will appear on your 
next statement. This means you may owe interest charges even if you pay the entire “New Balance” one month, but did not do 
so the previous month. For example, even if a customer pays their balance in full on a February 26th due date, interest would 
continue to accrue on the balance from February 2nd (the start of the Billing Cycle) through February 26th, and will appear 
on their next statement. Once you start accruing Interest Charges, you generally must pay your New Balance in full for two 
consecutive Billing Cycles before Interest Charges stop being posted to your Statement. Interest charges are added to the 
proper segment of your account. However, we reserve the right to not assess interest charges.
How Do You Calculate The Interest Charge? We use a method called Average Daily Balance (including new transactions). 
Under this method, we first calculate your daily balance; for each segment, 1) take the beginning balance and add in new 

transactions and the periodic interest charge on the previous day’s balance, then 2) subtract any payments and credits for that 
segment as of that day. The result is the daily balance for each segment. However, if you paid your previous month’s balance 
in full (or if your balance was zero or a credit amount), new transactions which post to your purchase or special purchase 
segments are not added to the daily balances. Also, transactions subject to a grace period are not added to the daily balances.
Next, to find your Average Daily Balance: 1) add the daily balances together for each segment, and 2) divide the sum by 
the number of days in the billing cycle.
At the end of each billing cycle, we determine your Interest Charge as follows: 1) multiply your Average Daily Balance  
by the daily periodic rate (APR divided by 365) for that segment, and 2) multiply the result by the number of days in the 
billing period. NOTE: Due to rounding or a minimum interest charge, this calculation may vary from the interest charge 
actually assessed. 
Can You Change My Account Terms? We can change the terms of your account as permitted by law. When required, 
we will send you notice before doing so.
© 2019 Capital One. Capital One is a federally registered service mark. All rights reserved. Products and services offered by 
Capital One Bank (USA), N.A. Capital One supports information privacy protection: see our website at www.capitalone.com.

Capital One® Customer Agreement

Welcome to Capital One
Thank you for opening a credit card account with us. 
This Customer Agreement including any changes to it 
(“Agreement”) contains the terms of your agreement 
with Capital One.
Definitions
The meanings of the terms you see in italics appear in 
the Glossary section at the end of this Agreement.
As used here, “you” and “your” mean each applicant 
and co-applicant for the Account; any person 
responsible for paying the Account; and any person 
responsible for complying with this Agreement. “We,” 
“us,” “our,” and “Capital One” mean Capital One Bank 
(USA), National Association; and its agents, authorized 
representatives, successors, and assignees.
Account Documents
The following documents govern your Account with us:

(1) this Agreement; 
(2) all Statements; 
(3)  any rewards program terms, conditions, and disclosures;
(4) any privacy notices; 
(5)  your Card benefits brochure which describes 

benefits provided by the Payment Card Network for 
your Account; 

(6)  all disclosures and materials provided to you before 

or when you opened your Account;

(7)  any other documents and disclosures relating to your 

Account, including those provided online; and
(8)  any future changes we make to any of the above. 

Please read these carefully and keep them for  
future reference.
New Offers
In the future, we may provide you with new offers that 
we think may interest you. The terms of these offers may 
differ from the standard terms on your Account. This 
Agreement will still apply.
Account Information
We need information about you to manage your 
Account. This includes:

(1) your legal name;
(2)  a valid U.S. mailing address and residential address 

(if different); 
(3) your date of birth;
(4)  your Social Security number or other government 

identification number;

(5) your telephone number(s); and
(6) your employment and income information. 

Credit Limits
When you open your Account, we will tell you your credit 
limits. These will also appear on your Statement. We may 
also refer to your credit limits as your credit lines. We may 
give you different credit limits for the different Segments 
of your Account. For example, you may have one credit 
limit for purchases and a different one for Cash Advances. 

You are responsible for keeping track of your Segment 
balances and your available credit. You must manage 
your Account to remain below your credit limits. We may 
honor transactions above your credit limits, but if we do 
these transactions will not increase your credit limit. You 
are responsible for paying for any transaction you make 
above your credit limits.

We may also increase, decrease, restrict or cancel your 
credit limit on any Segment at any time. This will not 
affect your obligation to pay us. 
Using Your Account
(1)  This Agreement applies whether or not you use your 
Card or Account. It will continue to apply even after 
your Account is closed, as long as you have a balance.

(2)  You must sign the Card immediately when you 

receive it.

(3)  You must return the Card to us or destroy it if we ask 

you to.

(4)  You must take reasonable steps to prevent the 

unauthorized use of your Card, Access Checks and 
Account.

(5)  We may decline to authorize a transaction for any 

reason. This may occur even if the transaction would 
not cause you to go over your credit limit or your 
Account is not in default.

(6)  We are not responsible for any losses you incur if we 

do not authorize a transaction.

(7)  We are not responsible for any losses you incur if 

anyone refuses to accept your Card for any reason.

(8)  Unless we tell you otherwise, we will bill each 
transaction to the applicable Segment of your 
Account. We will apply it against your available credit 
for that Segment.

(9)  You may obtain Cash Advances and Transfers as 

permitted for your Account. You may not use these to 
pay any amount you owe us or any other company in 
the Capital One organization.

(10)  You must not use, or try to use, the Card for any 

illegal activity. You are responsible for any charges if 
you do.

(11)  We are not liable for any losses that may result 

when our services are unavailable due to reasons 
beyond our control.

You must tell us when this information changes. We may 
ask you for additional documents to verify any changes. 
We may restrict or close your Account if we cannot verify 
your information, or if you do not provide it as requested.

Rewards
Your Account may provide you with the opportunity to 
earn rewards. If it does, we will separately provide you 
with information and terms about the rewards.

1

Access Checks
We may provide you with Access Checks. If we do, we 
will tell you at the time if we consider them purchases, 
Cash Advances or Special Transfers. 

Only the person we designate may use Access Checks. 
You may not use them to pay any amount you owe us or 
any other company in the Capital One organization. We 
may reject and not pay any Access Check if:

(1)  your Account is past due, charged off, bankrupt, lost/

stolen or closed; 
(2) we suspect fraud;
(3) your Account is over the credit limit; or
(4)  the check has expired, is damaged or cannot 

otherwise be processed.

Our liability if we do not pay an Access Check will never 
be more than (1) your actual damages or (2) the amount 
of the Access Check, whichever is less.

Use of an Access Check is not the same as using your 
Card. When you use an Access Check, you will have 
fewer rights to dispute merchant transactions than 
with uses of your Card. Please see the “Billing Rights 
Summary” on your Statement and your other Truth-in-
Lending Disclosures for more information.
Stopping Payment of Access Checks
You may request a stop payment on any Access Check 
by contacting contacting Customer Service.

We will have a reasonable amount of time after your 
stop payment request to research and complete the 
stop payment. We will not be responsible if we cannot 
complete the stop payment. Reasons include:

(1) the Access Check was already paid;
(2)  you do not give us the information we asked for; or
(3) the information you gave us was incorrect.

We do not have to release the stop payment order unless 
the account holder who made the request asks us to. 
If we re-credit your Account after a valid stop payment 
order, you give us all of your rights against the payee or 
other holder of the paid Access Check. You also agree to 
help us in any legal action we may later take against the 
payee or other holder of the check.
Using a PIN
We may give you a personal identification number (PIN). 
For security reasons, you may have to provide the PIN 
before you are able to use your Card.

Keep your PIN secure. Do not write it down, give it 
to anyone, or keep it with your Card. If you lose your 
Card or believe the confidentiality of your PIN has 
been compromised for any reason, you must contact 
Customer Service immediately.
Authorized Users
If you ask us to issue a Card to any other person, 
they are an Authorized User. We may require certain 
information about them. We may limit their ability to use 

your Card. They may have access to certain information 
about your Account. You will be responsible for their use 
of the Account and anyone else they allow to use your 
Account, even if you did not want, or agree to, that use. 
Removing an Authorized User
If you want to remove an Authorized User from your 
Account, you must contact Customer Service and request 
their removal. You also must immediately destroy all Cards 
in their possession and cancel any arrangements they may 
have set up on your Account. They will be able to use your 
Account until you have notified us that you are removing 
them from your Account. During this time, you will still be 
responsible for all amounts they charge to your Account. You 
will be responsible even if these amounts do not appear on 
your Account until later. 

Authorized Users may remove themselves from your 
Account upon request. We reserve the right to remove 
them from your Account for any reason. To remove them 
from your Account, we may close your existing Account 
and issue a new Card with a new Account number.
Your Promise to Pay
You promise to pay us all amounts due on your Account. 
This includes amounts where you did not sign a purchase 
slip or other documents for the transaction. We will treat 
transactions made without presenting your actual Card 
(such as for mail, telephone, Internet, or mobile device 
purchases) the same as if you used the Card in person. If 
you let someone else use your Card, you are responsible 
for all transactions that person makes. 
Statements
We will generally send or make available to you one 
Statement for all Cards on your Account at the end of 
each Billing Cycle. Under certain circumstances, the law 
may not require us to send or make available to you a 
Statement, or may prohibit us from doing so.
Disputed Transactions
You must inspect each Statement you receive. Tell us 
about any errors or questions you have, as described 
in the “Billing Rights Summary” on your Statement and 
other Truth-in-Lending Disclosures. If you do not notify 
us of an error, we will assume that all information on the 
Statement is correct. 

If we credit your Account for all or part of a disputed 
transaction, you give us all of your rights against others 
regarding that transaction. You will also:

(1)  give us any information about the disputed 

transaction, if we ask;

(2)  not pursue any claim or reimbursement of the 

transaction amount from the merchant or any other 
person; and

(3) help us get reimbursement from others.
No Warranties
We are not responsible for any claim you may have 
regarding the purchase of goods or services made with 

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 your Card beyond your rights described in the “Billing 
 Rights Summary” on your Statement.
 Lost or Stolen Card
 If your Card is lost or stolen or if you think someone else 
 may be using your Card or Account number without your 
 permission, you must contact Customer Service immediately. 
 You will not be responsible for transactions on your Account 
 that we find are unauthorized.
 If we reimburse you for unauthorized transactions, you 
 will help us investigate, pursue and get reimbursement 
 from the wrongdoer. Your help includes giving us 
 documents in a form that we request. 
 Interest Charges and Fees
 We will charge Interest Charges and Fees to your Account 
 as disclosed on your Statement and other Truth-in-Lending 
 Disclosures. In general, Interest Charges begin to accrue 
 from the day a transaction occurs. However, we will not 
 charge you interest on any new transactions posted to the 
 purchase Segment of your Account if you paid the total 
 balance across all Segments of your Account in full by 
 the due date on your Statement each month. From time 
 to time, we may give you offers that allow you to pay less 
 than the total balance and avoid Interest Charges on new 
 purchase Segment transactions. If we do, we will provide 
 details in the specific offer. 
 We will generally treat Fees as purchase transactions 
 unless otherwise specified below. These Fees apply to 
 your Account only if your Truth-in-Lending Disclosures 
 provide for them. We may increase your Interest Charges 
 and Fees as described in the Changes to Your Agreement 
 section or in your Truth-in-Lending Disclosures. 
 Membership Fee
 If your Account has a membership Fee, we may charge 
 the first membership Fee either on the day you activate 
 your Card or on the day when you use your Account, 
 whichever occurs first. If your Account terms include a 
 $0 introductory Fee, we may charge the first Fee when 
 the introductory period ends. If it is an annual Fee, we 
 may then charge it approximately once per year. If it is a 
 monthly Fee, we may charge it each Billing Cycle.
 Late Payment Fee
 We may charge you this Fee if we do not receive 
 your payment as instructed on your Statement by the 
 payment due date.
 Returned Payment Fee
 We may charge you this Fee each time your financial 
 institution for any reason rejects a payment you make to us.
 Stop Payment Fee
 We may charge you this Fee each time you ask us to 
 (1) stop payment on an Access Check or (2) renew an 
 existing stop payment order.
 Cash Advance Fee
 We may charge you this Fee each time you take out a 

 Cash Advance. We will treat this Fee as a Cash Advance 
 transaction. 
 Transfer Fee
 We may charge you this Fee each time you make a 
 Transfer. We will charge the Fee to the same Segment 
 where we post the Transfer. 
 Transactions Made in Foreign Currencies
 If you make a transaction in a foreign currency, the 
 Payment Card Network will convert it into a U.S. dollar 
 amount. The Payment Card Network will use its own 
 currency conversion procedures. The conversion rate 
 in effect on the processing date may differ from the rate 
 in effect on the transaction date that appears on your 
 Statement. We do not adjust the currency exchange rate 
 or charge any currency conversion Fees.
 Minimum Payment
 You must pay us at least the minimum payment amount 
 by the payment due date. Your Statement will tell you: 
 (1) the minimum payment due,
 (2) your new balance,
 (3) the payment due date, and
 (4)  an explanation of when the payment must reach us 

 for us to consider it received as of that date.

 Returns and other credits to your Account will reduce 
 your Account balance, but they will not change your 
 minimum payment amount.
 In addition to the minimum payment, you may pay 
 all or part of the total balance on your Account. But, 
 you must still pay at least the minimum payment 
 amount each month, even if you paid more than the 
 minimum payment due on the previous Statement. We 
 will continue to charge Interest Charges during Billing 
 Cycles when you carry a balance regardless of whether 
 your Statement includes a minimum payment that is 
 due. If your Account is 180 days past due, is part of a 
 bankruptcy proceeding or is otherwise charged off, the 
 total balance is immediately due and payable.
 Making Payments
 Your payment must be made in U.S. dollars from a U.S. 
 deposit account in a form acceptable to us. We do not 
 accept cash payments through the mail. You may not 
 make payments with funds from your Account or any 
 other credit account with us or any other company in 
 the Capital One organization. You must send mailed 
 payments to us as instructed on your Statement, unless 
 we tell you otherwise. 
 Other Payment Services
 We may make services available that allow you to make 
 faster or recurring payments online or by telephone. We 
 will describe the terms for using these services and any 
 applicable Fee before you use them. You do not have to 
 use these other payment services. 
 We are not responsible if your financial institution rejects 
 a payment made using our payment services.

 3

 If you ask someone else to make a payment for you, we 
 may provide that person with limited Account information 
 necessary to set up and process that payment. We may 
 also refuse to accept that payment. If we do accept it, you 
 will be responsible for that payment even if a financial 
 institution rejects it. 
 Payment Processing
 We may accept and process payments without losing 
 any of our rights. We may delay the availability of 
 credit until we confirm that your payment has cleared. 
 This may happen even if we credit your payment to 
 your Account. We may resubmit and collect returned 
 payments electronically. If necessary, we may adjust 
 your Account to correct errors, process returned and 
 reversed payments, and handle similar issues.
 When you send us an Item as payment, you authorize us to 
 make a one-time electronic fund transfer from your deposit 
 account. You also authorize us to process the payment as an 
 Item. We may withdraw the funds from your deposit account 
 as early as the same day we receive your payment. You will 
 not receive your Item back from your bank. We will provide 
 additional information about this process on your Statement. 
 We may use the information from an Item to create 
 an electronic image. We may collect and return the 
 image electronically. This electronic image may also be 
 converted to a substitute check and may be processed 
 in the same way we would process an Item. We will 
 not be responsible if an Item you provide has physical 
 features that when imaged result in it not being 
 processed as you intended. 
 How We Apply Your Payments
 Your Account may have Segments with different Annual 
 Percentage Rates (APR). For example, purchases may 
 have a lower APR than Cash Advances. If your Account 
 has Segment balances with different APRs, here is how 
 we apply payments in a Billing Cycle: 
 (1)  We generally apply credits and payments up to 

 your minimum payment first to the balance with the 
 lowest APR, and then to balances with higher APRs. 

 (2)  We apply any part of your payment exceeding your 
 minimum payment to the balance with the highest 
 APR, and then to balances with lower APRs.
 Items with Restrictive Words, Conditions, 
 or Instructions
 You must mail all Items bearing restrictive words, 
 conditions, limitations, or special instructions to:
 Capital One 
 PO Box 1330 
 Charlotte, NC 28201-1330
 This includes Items marked “Paid in Full” or similar 
 language. This also includes all accompanying 
 communications.
 If you make such a payment or send any accompanying 
 communications to any other address, we may reject it 

 and return it to you. We may also accept it and process 
 it without losing any of our rights.
 Credit Balances
 We may reject and return any payment that creates or 
 adds to a credit balance on your Account. Any credit 
 balance we allow will not be available until we confirm 
 that your payment has cleared. We may reduce the 
 amount of any credit balance by any new charges. You 
 may write to the address provided on your Statement 
 or call Customer Service to request a refund of any 
 available credit balance.
 Account Default
 You will be in default if:
 (1) you do not make any payment when it is due;
 (2)  any payment you make is rejected, not paid or 

 cannot be processed;
 (3) you exceed a credit limit;
 (4)  you file or become the subject of a bankruptcy or 

 insolvency proceeding;

 (5)  you are unable or unwilling to repay your obligations, 
 including upon death or legally declared incapacity; 
 (6)  we determine that you made a false, incomplete or 

 misleading statement to us, or you otherwise tried to 
 defraud us; 

 (7)  you do not comply with any term of this Agreement 

 or any other agreement with us;

 (8)  you permanently reside outside the United States; or
 (9)  we receive a garnishment, attachment or other levy 
 upon the Security Account, or the Security Account 
 is subject to any other legal proceeding.

 If you are in default, we may take certain actions with 
 respect to your Account. For example, depending on the 
 default, we may take the following actions, without notifying 
 you, unless the law says that we must give you notice: 
 (1)  charge you Fees, or change the APRs and Fees on 
 your Account, if provided in your Truth-in-Lending 
 Disclosures;

 (2) close or suspend your Account;
 (3) lower your credit limit(s);
 (4)  demand that you immediately pay the total balance 

 owing on your Account;

 (5)  continue to charge you Interest Charges and Fees as 
 long as your balance remains outstanding; and/or
 (6)  file a lawsuit against you, or pursue another action that 
 is not prohibited by law. If we file a lawsuit, you agree to 
 pay our court costs, expenses and attorney fees, unless 
 the law does not allow us to collect these amounts.

 Communications
 You agree that we may communicate with you by mail, 
 telephone, email, fax, prerecorded message, automated 
 voice, text message or other means allowed by law 
 regarding your Account.
 You agree that we may contact you at any telephone number 
 (including a mobile telephone number that you provide us), 
 and use an automated telephone dialing system or similar 

 4

 device to do so. You agree that we may monitor or record 
 any conversation or other communication with you. 
 Credit Reports
 We may report information about your Account to credit 
 bureaus and others. Late payments, missed payments, 
 or other defaults on your Account may be reflected in 
 your credit report. Information we provide may appear 
 on your and the Authorized Users’ credit reports.
 If you believe that we have reported inaccurate 
 information about your Account to a credit bureau or 
 other consumer reporting agency, notify us in writing at 
 PO Box 30281, Salt Lake City, UT 84130-0281. When 
 you write, tell us the specific information that you believe 
 is incorrect and why you believe it is incorrect. 
 We may obtain and use credit, income and other information 
 about you from credit bureaus and others as the law allows. 
 Closing or Suspending Your Account
 You may contact Customer Service to ask us to close 
 your Account.
 We may close or suspend your Account at any time and for 
 any reason permitted by law, even if you are not in default. 
 If we close or suspend your Account for any reason, 
 you must stop using your Card. You must also cancel all 
 billing arrangements set up on the Account. If we close 
 or permanently suspend your Account, you must return 
 or destroy all Cards. You must still pay us all amounts 
 you owe on the Account.
 Changes to Your Agreement
 At any time, we may add, delete or change any term of 
 this Agreement, unless the law prohibits us from doing 
 so. We will give you notice of any changes as required 
 by law. We may notify you of changes on your Statement 
 or in a separate notice. Our notice will tell you when and 
 how the changes will take effect. The notice will describe 
 any rights you have in connection with the changes. 
 Your variable APRs (if applicable) can go up or down as 
 the index for the rate goes up or down. If we increase 
 your APRs for any other reason, or if we change your 
 Fees or other terms of your Account, we will notify you 
 as required by law.
 The Law That Applies to Your Agreement
 We make decisions to grant credit and issue you a Card 
 from our offices in Virginia. This Agreement is governed 
 by applicable federal law and by Virginia law. If any part 
 of this Agreement is unenforceable, the remaining parts 
 will remain in effect.
 Waiver
 We will not lose any of our rights if we delay or choose 
 not to take any action for any reason. We may waive our 
 right without notifying you. For example, we may waive 
 your Interest Charges or Fees without notifying you and 
 without losing our right to charge them in the future. 

 Assignment
 This Agreement will be binding on, and benefit, any of 
 your and our successors and assigns. You may not sell, 
 assign or transfer your Account or this Agreement to 
 someone else without our written permission. 
 We may sell, assign or transfer your Account and this 
 Agreement without your permission and without prior 
 notice to you. Any assignee or assignees will take our 
 place under this Agreement. You must pay them and 
 perform all of your obligations to them and not us. If you 
 pay us after we notify you that we have transferred your 
 Account or this Agreement, we can return the payment 
 to you, forward the payment to the assignee, or handle it 
 in another way that is reasonable.
 Security Agreement
 You must provide a security deposit in U.S. dollars 
 from a U.S. deposit account (the “Funds”) to secure 
 the obligations to us that you incur in connection with 
 your Account (“Obligations”). All Funds will be held in a 
 Security Account. We will maintain separate records of 
 your Security Account. The Security Account is insured 
 by the Federal Deposit Insurance Corporation (“FDIC”) 
 to the extent permitted by law. Subject to this Security 
 Agreement, you will be the beneficial owner of the 
 Security Account for purposes of FDIC insurance. We 
 will not send statements for the Security Account.
 We may allow you to add additional Funds to the Security 
 Account in order to grant an increase of your credit limit. 
 You may not withdraw Funds from the Security Account 
 unless your Account is closed and paid to a $0 balance. 
 We will not pay interest on the Security Account, unless 
 we tell you we will in the secured credit Card offer. If 
 we do pay interest on the Security Account, it will be 
 deposited to the Security Account as proceeds of the 
 Funds to further secure the Obligations.
 You grant to us, as of the date you deliver Funds to us, a 
 security interest in the Funds, any additions to the Funds, 
 any proceeds of the Funds and any interest on any of these 
 (collectively the “Collateral”) to secure your performance 
 of the Obligations. You irrevocably and unconditionally 
 relinquish possession and control over the Collateral, and 
 you pledge and assign as security to us all of your right, title 
 and interest in it. You must take any action we request to 
 perfect or protect our first lien position security interest in 
 the Collateral. You waive the benefit of any homestead or 
 other exemptions in the Collateral.
 If (1) you are in default of any Obligation under the 
 Customer Agreement; or (2) your Account is closed for any 
 reason, you authorize us to withdraw Collateral from the 
 Security Account and apply such amounts to the Account 
 without sending you notice or demand for payment. We 
 may do this in addition to any other rights we have under 
 the law or the Agreement. The application of Funds to your 
 Account will not change your minimum payment amount. 
 You are responsible for the repayment of any Obligation 

 5

 that is not satisfied by the application of Collateral. We may 
 take up to 60 days to return any excess Collateral to you.
 Legal Proceedings. 
 (1)  You represent that (a) there are no current lawsuits 
 or bankruptcy proceedings that might affect our 
 interest in the Collateral; and (b) You have not 
 and will not attempt to transfer any interest in the 
 Collateral to any other person or offer the Collateral 
 as security for any other obligation. 

 (2)  If any other person seeks to attach the Collateral, for 

 example by legal garnishment, you agree that we may 
 deem the balance of the Account immediately payable 
 and apply the Collateral as payment of the Obligations.
 (3)  If we must hire an attorney to defend or enforce our 
 rights under this Security Agreement or to perform 
 any legal services in connection with this Security 
 Agreement, You will pay our reasonable attorneys’ 
 fees and court costs, unless the law does not allow 
 us to collect these amounts.

 If there is no activity with respect to your Account for 
 a prescribed period of time (generally five years), the 
 Collateral may be presumed to have been abandoned 
 and will escheat to and become the property of the 
 Commonwealth of Virginia or another applicable state. If 
 this happens, we will stop paying any interest on it. We 
 will notify you if required by law prior to escheating any 
 Collateral held under this Security Agreement.
 Glossary
 • “Access Check” means any check we send to you to 
 access credit from your Account. We may also refer 
 to an Access Check as a “convenience check” or a 
 “purchase check”.
 •  “Account” means your Card Account with us.
 • “Authorized User” means a person who may use the 
 Card, but is not responsible for the repayment of the 
 Account. 
 • “Balance Transfer” means a Transfer posted to the 
 purchase Segment of your Account unless otherwise 
 described in your Truth-in-Lending Disclosures.
 • “Billing Cycle” means the period of time reflected on 
 a Statement. This period may vary in length, but is 
 approximately 30 days. You will have a Billing Cycle even if 
 a Statement is not required. We will often specify a Billing 
 Cycle by the month in which its closing date occurs. For 
 example, a “March Billing Cycle” will have a closing date 
 in March. We may also refer to a Billing Cycle as a “Billing 
 Period”. If your Account balance has charged off, we may 
 switch to quarterly Billing Cycles for your Account.

 • “Card” means any Capital One credit card associated 
 with your Account. This includes all renewals and 
 substitutions. It also means any other access device 
 for your Account we give you that allows you to obtain 
 credit, including any Account number.
 • “Cash Advance” means a loan in cash or things we 
 consider cash equivalents, including wire transfers, 
 travelers’ checks, money orders, foreign currency, 
 lottery tickets, gaming chips, and wagers. We post 
 Cash Advances to the Cash Advance Segment of your 
 Account and not to your purchase Segment.
 • “Fees” means charges imposed on your Account not 
 based on the Annual Percentage Rates.
 •  “Interest Charges” means any charges to your Account 
 based on the application of Annual Percentage Rates.
 • “Item” means a check, draft, money order or other 
 negotiable instrument you use to pay your Account. 
 This includes any image of these instruments. This 
 does not include an Access Check.
 • “Payment Card Network” means the network provider 
 displayed on your Card. This may be Visa Inc., 
 MasterCard International Incorporated, or any other 
 network provider. 
 • “Segments” means the different parts of your Account we 
 may establish that are subject to unique APRs, pricing, 
 or other terms. We create these parts of your Account 
 for such things as your purchases, Balance Transfers, 
 Cash Advances and Special Transfers. The sum of your 
 Segment balances equals your total Account balance.
 • “Special Transfer” means a Transfer posted to a 
 Segment of your Account that is not your purchase 
 Segment or Cash Advance Segment.
 •    “Statement” means a document showing important 
 Account information, including all transactions billed to 
 your Account during a Billing Cycle and information about 
 what you must pay. We may also refer to your Statement 
 as a “Periodic Statement” or a “Billing Statement”. 
 • “Transfers” means amounts transferred from other 
 accounts to this Account and includes Balance 
 Transfers and Special Transfers.
 •   “Truth-in-Lending Disclosures” means disclosures that the 
 federal Truth in Lending Act and Regulation Z require for 
 any Account. This includes your application and solicitation 
 disclosures, Account opening disclosures, subsequent 
 disclosures, Statements, and change in terms notices.

BR281642    M-112859

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 COF Customer Agreement 301

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