Credit Card Agreement for Saks World Cards in Capital One, R 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 March 31, 2014. The combination of terms that
could apply to you may 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, N.A. 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
Annual Percentage Rate
18.99% 20.99%.
(APR) for Purchases
This APR will vary with the market based on the Prime Rate.
APR for Balance
18.99% 20.99%.
Transfers
This APR will vary with the market based on the Prime Rate.
APR for Cash Advances
25.24%.
This APR will vary with the market based on the Prime Rate.
Penalty APR and When It
29.99%.
Applies
This APR will vary with the market based on the Prime Rate.
This APR may be applied to your account if you make a late payment.
How Long Will the Penalty APR Apply? If APRs are increased for a payment that is late, the Penalty APR may apply indefinitely
unless you make the next six consecutive minimum payments on time following the rate increase.
Paying Interest
Your due date is at least 25 days after the close of each billing cycle. We will not charge you 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, the charge will be no less than $1.00.
Annual Fee
$0
Transaction Fees
Balance Transfer Fee
None.
Cash Advance Fee
Either $15 or 3% of the amount of each cash advance, whichever is greater.
Foreign Transaction Fee
None.
Penalty Fees
Late Payment
Up to $35.
Returned Payment
Up to $25.
Balance Computation Method: Average Daily Balance (including new purchases)
The "Daily Balance" of a Credit Plan is determined by taking the opening balance of the Credit Plan for that day, and adding 1) any new purchase made on the
Credit Plan that day, 2) the previous day's Interest Charges, 3) any credit insurance premiums or debt cancellation fees (if applicable) incurred on that day and 4)
any late fees, over the credit limit fees, returned payment fees or other fees incurred on that day and subtracting any payments or credit applied to the Credit Plan
that day. If your Account is subject to a grace period during the billing cycle, payments made during that cycle will be subtracted from all Daily Balances in the
current cycle.
Required Insurance, Debt Cancellation or Debt Suspension Coverage: None
Disclosure of Rates: The Daily Periodic Rate which is used to determine your Interest Charges and the corresponding Annual Percentage Rate, will be variable rates
which may change monthly. The Daily Periodic Rate will be one-three hundred sixty fifth of the sum of the U.S. prime rate published in Money Rates table of The Wall
Street Journal that is in effect on the last day of the month. ("Prime Rate"), plus a "Spread" of 15.74 to 17.74 percentage points for the Standard Rate and a "Spread" of
26.74 percentage points for the Penalty Rate. Any changes in the Prime Rate will take effect on the first day of your billing cycle beginning in the next month.
CAPITAL ONE® CUSTOMER AGREEMENT
ABOUT THIS AGREEMENT
We are not liable if:
Part 1 and 2 together make your Cardmember Agreement and
a merchant refuses your Card; and/or
Disclosure Statement ("Agreement") and govern your Credit Card
we do not complete your transaction for any reason.
Account with us (your "Account").
CREDIT LIMIT
Part 1 contains Terms and Conditions. Part 2 contains Annual
When we first send your Card, we will tell you:
Percentage Rate ("APR") and fee information. Please read and keep
the total credit limit on your Account called your "Revolving Credit
both parts of this Agreement.
Line"; and
the portion of this limit you can use for cash advances.
Thank you.
If a cash advance limit is not shown on your billing statement, it means
KEY TERMS
your total credit limit is available for cash advances.
"You" and "your" means each person who:
applied for this Account; and/or
Because your Account has no pre-set spending limit, we may allow you
agrees to pay for the Account.
to make charges (except ATM cash transactions) that cause you to exceed
your revolving credit line. Each charge will be evaluated based on:
"We," "us," "our," and "Capital One" means Capital One, N.A., 1111
Account usage and performance;
Town Center Drive, Las Vegas, Nevada 89144.
other accounts with us; and
"Agreement" means Parts 1 and 2 of this document and any
your accounts with other creditors.
supplements or amendments.
We may change these limits from time to time. Whenever this occurs,
"Card" means any card, card number or other device we issue to
we will notify you:
access your Account.
on your billing statement; and/or
by sending a notice.
GETTING STARTED
The Card must be signed to be used.
You agree to:
keep your Account balance (which includes Interest and other
When you receive this Agreement, use the Account, or sign or keep
charges) within your credit limit; and
the Card, you agree to:
immediately pay any over limit amount that might occur.
the terms of this Agreement; plus
any amendments or supplements to the Agreement.
Your available credit may not reflect your payments for up to 14 days.
If your Account has an Annual Fee or Periodic Membership Fee, we will
If a transaction exceeds your available credit, we may decline it.
refund this fee if:
RECURRING BILLS
you have not used your Account; and
If you authorize any company to bill charges on a recurring basis to your
you close your Account within 90 days of when it was opened.
Account, we may provide the company with information about your:
You may close your Account at any time.
a) Account number;
b) Account status; and
TYPES OF USES
c) Account expiration date.
You can use your Account for:
Purchases;
You must notify the company when and if you no longer want to allow
Balance Transfers; and
them to charge your Account.
Cash Advances.
If you default with us or if we change your Account or Account
We may limit the amount and/or frequency of any type of use at any time.
number for any reason:
we may refuse or suspend future recurring charges; and
Balance transfers include credit card checks, unless otherwise disclosed.
you must set up the recurring charges again and/or make other
payment arrangements with the company.
Cash advances include cash you get:
over the counter (e.g., at a bank);
PROMISE TO PAY
at an ATM; and
You promise to pay for all:
from other purchases we define as "cash-like" (e.g., money orders,
credit we extend; plus
traveler's checks, casino chips, or lottery tickets).
Interest Charges and other fees or charges; plus
ALLOWED USE
collection costs and attorney fees as allowed by law.
You agree to:
If your Account is a joint Account, each of you is jointly and
use your Account only for lawful purposes;
individually responsible for amounts due. This remains true in the event
use your Account for only personal, family, household, or charitable
of death, divorce or other events that affect liability between you and
purposes; and
the other person.
repay us for all costs related to uses not allowed under this Agreement.
If any joint Accountholder requests to not be liable for future
You are not allowed to use your Account:
transactions, we may close the Account.
to make payments to this credit card or any other loan payments to
us or our affiliates; or
WHEN AND HOW TO PAY
for internet gambling.
You agree to:
pay at least the Minimum Payment Due as described in Part 2, and as
You will take reasonable steps to prevent the unauthorized use of your
shown on your billing statement; and
Card and Account.
make this payment in time to be credited by no later than the
If you have given someone permission to use the Card, this is not
Payment Due Date.
unauthorized use and you will be liable for all use by that person.
If you wish, you may pay more than the Minimum Payment Due or the
USING THE ACCOUNT
entire balance at any time.
At times we may:
Instructions for making timely payments are shown on your billing
decline a transaction if there is not enough available credit and for
statement.
any other reason; and/or
require our Authorization before allowing a transaction.
Payments must be:
made in U.S. dollars; and
A merchant may check your ID.
paid from a U.S. bank or other U.S. financial institution; and
sent in a form that is acceptable to us.
Acceptable forms of payment include:
if you do not make the next six consecutive minimum payments
a check or money order; or
by the Payment Due Date, we may keep the Penalty APR on your
an electronic funds transfer.
Account indefinitely.
If you want to write any special conditions on your payment, such as
INTEREST CHARGES
"paid in full", "without recourse", or similar language, you must mark
this clearly on your payment. Send this payment to the special address
HOW INTEREST CHARGES ARE CALCULATED
on your statement. This address is called the "Billing Inquiries" address.
To determine your periodic Interest Charges on each billing statement, we:
Unless you follow the above directions, we may accept a payment
determine the Average Daily Balance for each type of transaction;
marked with special conditions and not agree to those conditions, and
(for example, purchases, balance transfers, and cash advances); then
will not lose any of our rights.
multiply this number by the applicable Daily Periodic Rate; then
multiply this number by the total number of days in the billing cycle.
By sending us a check for payment on your Account, you authorize us
either to:
We use the applicable Daily Periodic Rate in effect on the billing
use information from your check to initiate an electronic fund
statement closing date.
transfer from your payment account according to the terms of the
HOW DAILY BALANCE IS DETERMINED
check; or
To determine your Daily Balance, we:
to process this transaction as a check.
take the beginning balance for each type of transaction that day; then
When we use your check to make an electronic fund transfer:
add the following that were incurred on that day:
funds may be withdrawn from your payment account the same day
a) any new transactions;
we receive your payment; and
b) any previous day's periodic Interest Charges;
you will not receive your check back from your bank.
c) any Finance Charges; and
d) any fees and charges, including any credit insurance premiums or
When you use our optional payment by phone service, you agree that:
debt cancelation fees, if these apply; then
we may make an electronic funds transfer from the bank account
subtract any payments and/or credits.
you choose; or
we may process the payment the same way we would process a check.
We also make any needed adjustments. For example:
If a transaction posts after, but occurs before the start of a billing
You authorize the amount and timing of each payment. Please retain
cycle, we may adjust the amount above to include this transaction. It
this authorization for your records.
will be included as of the first day of the billing cycle in which it posts.
If your Account is subject to a grace period during the billing cycle,
If you have a returned payment:
your payments will be subtracted from all Daily Balances in the
the amount you paid will be added back to your Account and may
current billing cycle.
be applied to a different category than originally posted. (e.g. cash
If a transaction for a returned payment or a dispute resolved in our
advance, purchases, etc.); and
favor posts after the beginning of the billing cycle, we will make
Interest Charges may be restored back to the payment date at the
this adjustment:
APR for that transaction.
the applicable Daily Balance(s) and any related Interest Charge
calculations will be adjusted to include the transaction amount as
INTEREST RATES
of the date of the original payment or transaction.
ABOUT YOUR APRs
To calculate your Average Daily Balance, we:
Your APRs are shown in Part 2.
add the Daily Balances for each day of the billing cycle; then
A Daily Periodic Rate is used to determine your Interest Charges in any billing
divide this total by the number of days in the billing cycle.
cycle. To determine this rate, we divide your APR by 365; then round this
PAYING INTEREST
number up to the next hundred thousandth of a percentage point.
Your Account has a grace period on purchases. Periodic Interest
PROMOTIONAL OR INTRODUCTORY APR
Charges begin accruing on purchases, balance transfers, cash
advances, and credit card checks on the date of the transaction and
We may offer you special Promotional or Introductory APRs from time
to time. If we do, we will tell you:
continue to accrue until your balance is paid in full. However, no
the eligible transaction types;
Interest will be charged on new purchases for any billing cycle when:
how long this APR will last; and
you paid your entire New Balance in the previous month on time; and
any other special terms of the offer.
you pay your entire current month's balance on time as well.
TREATMENT OF FEES AND INTEREST
HOW A VARIABLE RATE MAY CHANGE
Your variable APRs can change with each monthly billing cycle.
Any fees or Interest will be added to your Purchase balance unless
otherwise stated in this Agreement.
We will apply each APR to the applicable balance for each type of
MINIMUM INTEREST CHARGE
transaction. Each variable APR will be equal to:
a) the amount shown in Part 2 ("Spread"); plus
If you are charged Interest, the charge will be no less than the Minimum
b) the U.S. "Prime Rate" as defined below.
Interest Charge listed in Part 2. The Minimum Interest Charge will be
allocated to each balance category subject to an Interest Charge.
The Prime Rate will be as shown in the Money Rates table of The Wall
BALANCE TRANSFER FEE
Street Journal that is in effect on the last day of the month.
This fee is shown in Part 2. This fee:
Any changes in the Prime Rate will take effect on the first day of your
applies to balance transfers and credit card checks; and
billing cycle beginning in the next month.
is charged as of the date the transfer or check posts to your Account; and
is added to the same balance as the balance transfer; and
An increase in the U.S. Prime Rate will increase your Daily Periodic
is a Finance Charge.
Rates. It may also increase your:
Interest Due; and/or
CASH ADVANCE FEE
Minimum Payment Due.
This fee is shown in Part 2. It applies to:
cash you get over the counter (e.g., at a bank);
ABOUT THE PENALTY APR
cash you get at an ATM; and
If you do not make your Minimum Payment Due by the Payment Due
other "cash-like" transactions (such as money orders, traveler's
Date, we may increase your APRs to the Penalty APR.
checks, casino chips, or lottery tickets).
If this occurs:
This fee is:
we will provide advance notice before the Penalty APR goes into effect;
charged as of the date the transaction posts to your Account; and
once the Penalty APR goes into effect, if you make your Minimum Payment
added to the cash advance balance; and
Due by the Payment Due Date for the next six consecutive billing cycles, your
a Finance Charge.
rates will return to the non-Penalty APRs that apply to your Account; and
FEES AND LIMITS
b) to promptly give us accurate financial information about you if we
The fees that apply to your Account are shown in the Purchase balance
ask for it; and
unless otherwise stated in this Agreement.
c) the Department of Motor Vehicles may release your home address
to us if we ever need it to find you.
If charging any fee shown in Part 2 would exceed first-year fee limits
set by law, we may charge an amount allowed by law. If we do this, it
CLOSING YOUR ACCOUNT
does not affect our ability to charge the full fee amount later.
You can close your Account at any time by:
calling the number on the back of your Card; or
ANNUAL OR PERIODIC MEMBERSHIP FEE
mailing your request to the "Billing Inquiries" address on your
If your Account has an Annual or Periodic Membership Fee, this
billing statement.
amount is shown in Part 2. You agree that this fee will be charged to
your Account while your Account is:
Once you close the Account:
open; or
you must destroy your Card(s) and any unused credit card checks; and
closed with a balance.
you will still be responsible for all amounts owed according to the
terms of this Agreement.
If you have not used your Account and you close it within 90 days of
when it was opened, the Annual or Periodic Membership Fee(s) will be
LOST OR STOLEN CARD/CHECKS
refunded (if paid) or reversed.
You agree to notify us immediately if:
your Card or credit card checks are lost or stolen; or
This Fee compensates Capital One, in part, for Cardmember services
your Account is used without your permission.
provided or made available to you throughout the membership year.
You may call at any time. The phone number is listed on your billing statement.
LATE PAYMENT FEE
This fee is shown in Part 2. It is charged in any billing cycle that you do
ACCOUNT DEFAULT
not pay at least the Minimum Payment Due by the Payment Due Date.
We may consider your Account to be in Default if you:
a) fail to make the Minimum Payment Due when due;
RETURNED PAYMENT FEE
b) become the subject of bankruptcy proceedings, foreclosure,
This fee is shown in Part 2. It is charged each time a check or other
repossession, lien or judgment, garnishment, or attachment;
form of payment to us is returned or not honored.
c) give us misleading, false, or incomplete information;
PAYMENT BY PHONE FEE
d) fail to give us a current physical address when you apply and
This fee:
whenever you move;
may be charged each time anyone makes a Payment to your Account
e) make payments to us that are returned unpaid by your bank or
with the assistance of a live phone representative; and
other financial institution;
amount is disclosed at the time a payment by phone is requested.
f) write any credit card checks that are returned unpaid by us;
g) default under any other agreement or security agreement you have
COPY REQUEST FEE
with us or with one of our affiliates; and/or
A fee may be charged each time a copy of a document is requested.
h) become incompetent or deceased.
The fee amount will be disclosed at the time of your request.
Upon default, we have the right to:
STOP PAYMENT FEE
close your Account;
A fee may be charged when you request a stop payment on a credit
suspend your credit privileges;
card check you have written.
require you to pay your entire Account balance including any Introductory
or Promotional APR balances, all accrued but unpaid Interest Charges, and
Please note, if the check has already been paid, a stop payment cannot
other charges provided for in this Agreement immediately;
be requested.
change the terms of your Account; and
To request a stop payment you must notify us in writing. Please use the
sue you for what you owe.
"Billing Inquiries" address on your billing statement.
If
we incur costs to collect your balance owed, including any attorney
If you notify us by phone, you must also notify us in writing within 14
fees, we may charge you for these costs as permitted by applicable
days of your call.
law, and we will apply your payments first to these costs.
Your written, signed request must include these items:
CREDIT REPORTING
check number;
You agree that we may obtain and use credit information about you
payee name;
from others such as:
check date; and
-merchants or stores;
check amount.
-other lenders; and
-consumer reporting agencies.
Your stop payment order will end after six months unless you renew it
in writing.
We may provide information about you and the Account to consumer (credit)
reporting agencies and others as provided in our Privacy Notices. Information
HOW WE APPLY PAYMENTS
we provide might appear on your and the authorized users' credit reports.
We apply your payment up to and including the Minimum Payment Due
as we determine, and usually to lower APR balances before higher ones.
If you fail to meet the terms of this Agreement, we may send a
negative report to consumer reporting agencies.
Any payment amount greater than the Minimum Payment Due is
applied to higher APR balances before lower ones.
If you believe we have reported inaccurate information about your
Account to any consumer reporting agency, you should:
GETTING ADDITIONAL CARDS
- notify us and ask us to correct the inaccurate information by writing
You may:
to us at Capital One, P.O. Box 5253, Carol Stream, IL 60197-5253.
request additional cards for others; and/or
permit others to use your Card or Account Number.
When you write to us, tell us:
- your Account number; and
You are responsible for all charges made on additional Account cards
- the specific information you believe is not correct; and
or by permitted users.
- why you believe it is not correct.
To revoke another person's permission to use your Account, you must:
ACCOUNT CLOSURE
notify us; and
At any time, for any reason, we may take any of these actions subject
retrieve and destroy any cards, checks or other Account access
to applicable law:
devices from that person.
a) close your Account;
UPDATING YOUR RECORDS
b) suspend your access to new credit;
You agree:
c) reduce your credit limit; and/or
a)to give us prompt advance notice of any change in your name,
d) not renew your Card.
mailing address, phone number, or employer;
If we close your Account, you agree to destroy your Card(s) and any
describe what you believe is wrong and why you believe it is a mistake.
unused credit card checks.
You must contact us:
If your Account is closed for any reason, the terms of this Agreement
Within 60 days after the error appeared on your statement.
still apply to Account balances until your Account is paid in full.
At least 3 business days before an automated payment is scheduled,
if you want to stop payment on the amount you think is wrong.
COMMUNICATIONS
We may contact you from time to time regarding your Account. We
You must notify us of any potential errors in writing. You may call us,
may contact you in any manner we choose unless the law says that we
but if you do we are not required to investigate any potential errors
cannot. For example, we may:
and you may have to pay the amount in question.
1) contact you by mail, telephone, email, fax, recorded message, text
message or personal visit;
What Will Happen After We Receive Your Letter
2) contact you using an automated dialing or similar device ("Autodialer");
When we receive your letter, we must do two things:
3) contact you at your home and at your place of employment;
1. Within 30 days of receiving your letter, we must tell you that we
4) contact you on your mobile telephone;
received your letter.
5) contact you at any time, including weekends and holidays;
We will also tell you if we have already corrected the error.
6) contact you with any frequency;
2. Within 90 days of receiving your letter, we must either correct the
7) leave prerecorded and other messages on your answering machine/
error or explain to you why we believe the bill is correct.
service and with others; and
8) identify ourselves, your relationship with us and our purpose for
While we investigate whether or not there has been an error:
contacting you even if others might hear or read it.
We cannot try to collect the amount in question, or report you as
delinquent on that amount.
Our contacts with you about your Account are not unsolicited and might result
The charge in question may remain on your statement, and we may
from information we obtain from you or others. We may monitor or record any
continue to charge you interest on that amount.
conversation or other communication with you. Unless the law says we cannot,
While you do not have to pay the amount in question, you are
we may modify or suppress caller ID and similar services and identify ourselves
responsible for the remainder of your balance.
on these services in any manner we choose. When you give us or we obtain
We can apply any unpaid amount against your credit limit.
your mobile telephone number, we may contact you at this number using an
Autodialer and can also leave prerecorded and other messages. We may do
After we finish our investigation, one of two things will happen:
these things whether we contact you or you contact us.
If we made a mistake: You will not have to pay the amount in
question or any interest or other fees related to that amount.
If you ask us to discuss your Account with someone else, you must
If we do not believe there was a mistake: You will have to pay the
provide us with documents that we ask for and that are acceptable to us.
amount in question, along with applicable interest and fees. We will
CHANGE OF TERMS
send you a statement of the amount you owe and the date payment
We may change this Agreement as allowed by applicable law. This may
is due. We may then report you as delinquent if you do not pay the
include changing, adding, or removing terms. We may do this in response
amount we think you owe.
to legal, business, competitive environment or other reasons not listed here.
If you receive our explanation but still believe your bill is wrong, you
We may increase the Interest rate on existing balances in limited circumstances.
must write to us within 10 days telling us that you still refuse to pay. If
Changes to some terms may require at least 45 days advance notice, and
you do so, we cannot report you as delinquent without also reporting
we will tell you in the notice if you have the right to reject a change. We
that you are questioning your bill. We must tell you the name of
cannot change certain terms during the first year of your Account.
anyone to whom we reported you as delinquent, and we must let those
organizations know when the matter has been settled between us.
ACCOUNT ASSIGNMENT
We may sell, assign or transfer all or any part of your Agreement and Account
If we do not follow all of the rules above, you do not have to pay the
without notice to you. You may not sell, assign or transfer your Account.
first $50 of the amount you question even if your bill is correct.
WAIVERS
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
If we delay or take no action allowed under this Agreement, for any
If you are dissatisfied with the goods or services that you have
reason, we will not lose or limit any of our rights under this Agreement
purchased with your credit card, and you have tried in good faith to
on any other occasion.
correct the problem with the merchant, you may have the right not to
SEVERABILITY
pay the remaining amount due on the purchase.
If a term is found to be invalid under any applicable law, rule or
To use this right, all of the following must be true:
regulation, then all other terms of this Agreement will remain valid.
1. You must have used your credit card for the purchase. Purchases
APPLICABLE LAWS
made with cash advances from an ATM or with a check that
This Agreement is governed by Commonwealth of Virginia law and
accesses your credit card account do not qualify.
federal law.
2. 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
We make our credit decisions and extend credit to you under this
purchase, contact us in writing at:
Agreement from the Commonwealth of Virginia. This Agreement is:
entered into in the Commonwealth of Virginia; and
Capital One
maintained in the Commonwealth of Virginia.
PO Box 5253
Carol Stream, IL 60197-5253
This is true whether or not you use your Card in the Commonwealth of Virginia.
While we investigate, the same rules apply to the disputed amount as
YOUR BILLING RIGHTS: KEEP THIS DOCUMENT FOR FUTURE USE
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
This notice tells you about your rights and our responsibilities under
pay, we may report you as delinquent.
the Fair Credit Billing Act.
What To Do If You Find A Mistake On Your Statement
Missouri Residents: Oral agreements or commitments to loan
money, extend credit or to forbear from enforcing repayment of
If you think there is an error on your statement, write to us at:
a debt including promises to extend or renew such debt are not
enforceable. To protect you (borrower(s)) and us (creditor) from
Capital One
PO Box 5253
misunderstanding or disappointment, any agreements we reach
Carol Stream, IL 60197-5253
covering such matters are contained in this writing, which is the
complete and exclusive statement of the agreement between us,
In your letter, give us the following information:
except as we may later agree in writing to modify it.
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,
AG3148B (10/12) M-106758