FR833282333_JCPENNEY_CREDIT CARD
T&C PLCC
9/14

SYNCHRONY BANK  
RATES AND FEES TABLE 
JCPENNEY CREDIT CARD ACCOUNT AGREEMENT
PRICING INFORMATION

Interest Rates and Interest Charges

Annual Percentage Rate (APR)  
for Purchases

26.99%

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 on purchases 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 $2.00.

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 agreement below for 
more details.

SECTION II: RATES, FEES AND PAYMENT INFORMATION 
JCPENNEY CREDIT CARD ACCOUNT AGREEMENT

How Interest is Calculated

Your Interest Rate

When We Charge Interest 

How We Calculate Interest

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 .07395% (APR 26.99%). Interest will be 
imposed in amounts or at rates not in excess of those permitted by applicable law.

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 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.

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, 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. Insurance premiums, if any, are not 
included in the daily balance subject to interest charge. Late payment fees and debt cancellation fees are 
treated as new purchases.

  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 $2.00 of interest in any billing cycle in which you owe interest. This charge is added 
proportionately to each balance type.

How Fees Work 

Late Payment Fee 

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.

Minimum Payment Calculation

Your total minimum payment is calculated as follows.

The greater of:

  1.  (a) $25, or $35 (which includes any past due amounts) if you have failed to pay the total minimum payment due by the due date in any one or more 

of the prior six billing cycles. PLUS
(b) Any credit insurance premiums charged in the current billing cycle,

  OR

  2. The sum of:

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

 (i) Any past due amounts; PLUS
(ii) 1% of your new balance shown on your billing statement; PLUS
(iii) Any late payment fees charged in the current billing cycle; PLUS
(iv) All interest charged in the current billing cycle; PLUS

(b) Any credit insurance premiums charged in the current billing cycle

  OR

  3. If your account balance does not include debt cancellation fees, the sum of:

(a) Any unpaid interest; PLUS
(b) Any credit insurance premiums and other insurance premiums charged in the current billing cycle; PLUS
(c) Any past due amounts.

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

Special  Promotional  Financing  Offer  Information.  At  times,  we  may  offer  you  special  financing  promotions  for  certain  transactions  (“special 
promotions”). The terms of this Agreement apply to any special promotions. 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.

Below is a description of certain promotions that may be offered at JCPenney Stores and online at jcp.com: 

No Interest For 6, 12, 18, 24 or 36 Months

For each promotion, after the promotion ends, the APR that applies to your account when the 
promotional purchase is made will apply. At the time your account is opened, the Purchase 
APR is 26.99%.

When you make a qualifying purchase under one of these promotions, no interest will be assessed on the purchase during the promotional period, but 
minimum monthly payments are required. Regular account terms apply to non-promotional purchases and, after promotion ends, to your promotional 
purchases. Offers are subject to credit approval. These promotional offers may not be available at all times for all purchases. Please see any special 
promotion advertising or other disclosures provided to you for the full terms of any special promotion offered.

In addition, the special promotions described below may be offered at JCPenney Stores and online at jcp.com:

No Interest if Paid in Full Within 6, 12, 18, 24  
or 36 Months

For each promotion, if the promotional balance is not paid in full within the promotional period, 
interest will be imposed from the date of purchase at the Purchase APR that applies to your 
account when the promotional purchase is made. At the time your account is opened, the 
Purchase APR is 26.99%.

When you make a qualifying purchase under one of these promotions, no interest will be assessed on the purchase if you pay the promotional purchase 
amount in full within the applicable promotional period. If you do not, interest will be assessed on the promotional purchase from the date of the purchase. 
Minimum  monthly  payments  are  required.  Regular  account  terms  apply  to  non-promotional  purchases  and,  after  promotion  ends,  to  promotional 
purchases. Offers are subject to credit approval. These promotional offers may not be available at all times for all purchases. Please see any special 
promotion advertising or other disclosures provided to you for the full terms of any special promotion offered. 

SECTION III: STANDARD PROVISIONS  
JCPENNEY 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, the application you submitted 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 
JCPenney Stores, jcp.com, or other companies authorized to accept the JCPenney Credit Card.

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 a JCPenney Store. JCPenney Stores take payments that you make to them as a convenience to you.
We may not credit those payments to your account until we receive them. Under ordinary circumstances, any payment made at a JCPenney Store will be 
credited as of the day you make such payment in the store. We may allow you to make payments over the phone but we may 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 authorized and directed us to give information about you and your account 
to JCPenney and its affiliates and licensees (the “JCPenney family”). The JCPenney family will use the information in connection with the credit program and 
for things like creating and updating its records for you, assisting them in better serving you, and providing you with notices of special promotions, marketing 
materials and tailored offerings. 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 965007, 
Orlando, FL 32896-5007 (Puerto Rico and U.S. Virgin Islands residents, write to P.O. Box 364788, San Juan, PR 00936-4788). 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 1-800-542-0800 (Puerto Rico and U.S. Virgin Islands 
residents, call 1-800-981-8400). 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 J. C. Penney Corporation, Inc. 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 
JCPENNEY 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_JCPENNEY_CREDIT CARD
T&C PLCC
9/14