Credit Card Agreement for Melaleuca Rewards Visa® Card 
issued by Banco Popular de Puerto Rico 

Interest Rates and Interest Charges 

Annual Percentage Rate (APR) 
for Purchases 

Your APR will be from 16.99% to 25.99%, based on your creditworthiness.  

This APR will vary with the market based on the Prime Rate. 

APR for Balance Transfers 

Your APR will be from 16.99% to 25.99%, based on your creditworthiness.  

This APR will vary with the market based on the Prime Rate. 

APR for Cash Advances 

26.74% 

Penalty APR and When it 
Applies 

Paying Interest 

This APR will vary with the market based on the Prime Rate. 

29.99%1 

This APR may be applied to your account if you miss a required Minimum 

Payment for a period of sixty (60) consecutive days from its Payment Due Date. 

How Long Will the Penalty APR Apply?: If your APR is increased for 
this  reason,  the  Penalty  Rate  will  remain  in  effect  until  the  account  becomes 
current and six (6) consecutive required Minimum Payments are received on or 
before the Payment Due Date. 

Your payment due date is at least 25 days after the close of each billing cycle.  You 
will not be charged interest from the time you purchased goods or services, if you pay 
your full account balance by the Payment Due Date. In the event you don’t pay the 
full account balance, while in Grace Period, you will not pay interest on the amount 
paid for that cycle.  On subsequent cycles you will not have grace period until you pay 
your full account balance on time for two cycles in a row. Amounts related to certain 
offers  will not  be  taken  into  consideration  in  determining the  Grace  Period,  please 
refer to the offer terms and conditions. There is no grace period for Balance Transfers, 
Convenience Checks or Cash Advances and begin to accrue interest on the date they 
are posted and remain subject to Interest Charges until paid in full.  

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  Consumer  Financial  Protection  Bureau  at 
http://www.consumerfinance.gov/learnmore 

the  website  of 

Fees 

Annual Fee 

Transaction Fees 

   •  Cash Advances and  
       Convenience Checks 
   •  Balance Transfers 

$0 Annual Fee 

$0 Additional Card Fee  

2% of the amount of each transaction (minimum $2; maximum $10) 

2% of the amount of each transfer (minimum $2; maximum $10) 

   •  Foreign Transaction 

1% of each transaction in U.S. dollars for Visa 

Penalty Fees 

   •  Returned Payment 

   •  Late Payment 

Up to $10 
Up to $38 

How We Will Calculate Your Balance:  We use a method called "average daily balance (including new transactions)”. 
Please refer to your Agreement for more details. 

Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your 
Credit Card Agreement.  

1The corresponding Daily Periodic Rate for the Penalty APR is 0.0822%. 

Please read these terms and conditions carefully and keep them for future reference.   

The terms and conditions for the revolving credit Account we established for you are contained below. Your entire Agreement with us 
includes:  (1)  the  terms  and  conditions  stated  in  this  document  and  your  application;  (2)  your  Account-Opening  Disclosures  and  all 
disclosures and materials provided to you before or when you opened your Account; (3) all billing statements; (4) any rewards program 

 
 
 
 
 
 
 
 
terms, conditions, and disclosures; (5) our privacy notices; (6) any other documents relating to your Account that we send by email or 
post online; and (7) any amendments we make to such documents from time to time.  

Use of the Card (the credit Card we issue to you to access your Account) constitutes acceptance of this Agreement. If you accept the 
Card, you should sign the Card immediately when you receive it. This Agreement applies whether or not you use your Card and will 
continue to apply even after your Account is closed, as long as you have a balance.   If you choose not to accept the Card, you should 
not use it and should notify the Bank within 15 days after receiving this Agreement by contacting Customer Service.  

Your Agreement and Promise to Pay: By using your Card, Account number or a device to access your Account, making a payment on 
the Account, or signing an application for any Card we send you, you represent you are of legal age in your state of residence and you 
agree to the terms of this Agreement. You agree to pay us all amounts that we lend to you on your Account, together with Interest 
Charges and fees as provided in this Agreement. You agree to release and indemnify us from liability for damages, losses, or expenses 
that arise as a result of our compliance with your instructions. 

WHO ARE THE PARTIES TO THIS AGREEMENT? 

TERMS WE USE  WHAT IT MEANS 

HOW IT AFFECTS YOU 

You and your 

All persons who applied for the 
Account or who are liable on 
the Account by any other 
means and all Authorized 
Users. 

If there are joint Cardholders, each of you will be responsible individually 
and jointly for the entire amount due on the Account.  We may send 
communications to either of you; we may disclose information about the 
Account to either of you; and we may accept instructions from either of you 
(even if you have a disagreement). 

We,  us,  our  and 
Banco Popular  

Authorized User 

Banco Popular de Puerto Rico, 
its agents, authorized 
representatives, successors 
and assigns. 

Anyone else that you permit to 
use your Account. 

We are the lender on your Account and the issuer of your Card. 

An Authorized User is any person you request us to issue a Card that 
accesses your Account or any person you give your Card or Card number 
to.  You are responsible for any charge on your Account by an Authorized 
User even if you told that person not to make that specific charge. If you 
wish to revoke an Authorized User, you must notify us through our Customer 
Service.  You are responsible for recovering from that Authorized User and 
destroying any Cards, Convenience Checks and other devices that can be 
used to access your Account. 

HOW DO YOU USE YOUR ACCOUNT?  

You may use your Account only for personal, family or household purposes. You may not use your Account for illegal purposes or for 
internet gambling (even if legal). However, you are still responsible for any transactions that you enter into, even if in violation of law or 
this Agreement. You must take reasonable steps to prevent unauthorized use of your Account. Subject to applicable law we may cancel 
or convert your Account to any of our other revolving accounts. 

TERMS WE USE 

WHAT IT MEANS 

HOW IT AFFECTS YOU 

Transactions or 
Transaction Types 

Purchases 

The Transaction Types are: 
Purchases, Cash 
Advances, and   Balance 
Transfers, as described 
below. 

We do not guarantee that your Card will be accepted when you attempt to 
use it. You may carry out Transactions by using your Card, Account number 
or other credit device linked to your Account (including a mobile device, 
subject to the terms and conditions of that service).  Each Transaction Type 
will have its own balance and may have a separate Interest Charge. 

When you use the Card to 
buy goods and services 
from merchants that accept 
the Card. 

The merchant will receive our authorization or denial to charge your Account 
in accordance with the terms of the Agreement. We may deny any Purchase 
transaction authorization request from a merchant at our sole discretion for 
security and other reasons, even if there is sufficient available credit. We are 
not responsible for any losses associated with a declined transaction. 

Balance Transfers 
and Fees 

When you transfer a 
balance from another credit 
card. 

Cash Advances and 
Fees 

When you obtain cash or 
an equivalent through your 
Card.  

Convenience 
Checks and Fees 

The checks provided by us 
for you to access your 
Account. 

We permit Balance Transfers from most accounts issued by other banks but 
not from other accounts or loans with us or any of our affiliates. We will 
charge a Balance Transfer fee based on the amount of each Balance 
Transfer, as set forth in the Account-Opening Disclosures. 

The following transactions will be treated as Cash Advances: all advances to 
obtain cash over the counter, through an ATM, and other “cash-like” 
transactions, such as purchasing foreign currency, a money order, traveler’s 
check, casino betting chip, or a lottery ticket. We will charge a Cash 
Advance fee based on the amount of each Cash Advance, as set forth in the 
Account-Opening Disclosures. 

The Convenience Check is subject to the Purchase APR. We have the right 
not to pay a Convenience Check for any reason. You may not use a 
Convenience Check to make a payment on the Account or any other account 
with us. We will charge a Convenience Check Fee based on the amount of 
each Convenience Check advance, as set forth in the Account-Opening 

 
 
Disclosures. 

We are not responsible for recurring transactions if your Account is closed or 
suspended, or if the Account number or expiration date changes. You must 
contact the third party to notify them of the changes of your account. 

Your Credit Limit is based on your credit worthiness and/or your payment 
history.  We will advise you of the total credit limit on your Account when we 
first send you your Card and thereafter, in each billing statement. We may 
establish a lower limit for Cash Advances. If no separate Cash Advance limit 
is listed on our billing statement, then the Credit Limit for Cash Advances is 
the amount of your total Credit Limit. Your Credit Limit and Cash Advance 
limit may change from time to time taking into consideration your credit 
worthiness and/or payment history.  We may cancel, change, or rescind your 
credit availability at any time. We will notify you of any such changes through 
your billing statement or by sending you a separate notice, which may be 
after the change occurs.   
We may approve at our sole discretion a Transaction that causes your 
Account balance to exceed the Credit Limit. In such case, we will add the 
excess to your Minimum Payment.This will not be considered an increase in 
your Credit Limit nor do we waive any of our rights by doing so. 

Introductory APRs and special fees are described in the Account-Opening 
Disclosures. Any special offer is subject to this Agreement, unless specified 
otherwise. 
We will provide you with all information and terms about your Rewards  
separately, if applicable. 

The applicable card association (such as Visa and MasterCard) will convert 
to U.S. dollars transactions made in a foreign currency using a government-
mandated or wholesale rate in effect on the processing date (which may 
differ from the rate on the date of your transaction). The rate used may differ 
from the rate that the card association actually receives.  A fee will be 
assessed on the U.S. Dollar amount of the transaction. See “Fees” section 
on the Account-Opening Disclosures for the fee applicable to the Account. 

Allows you to add your credit Card to an application using your mobile device. 
Your  credit  Card  number  is  replaced  with  a  digital  number  or  token.  Once 
loaded you may use your mobile device to make Purchases or payments only 
where the Wallet is accepted. 

Recurring 
Transactions 

Credit Limit 

When you authorize a third 
party to bill charges on a 
recurring basis to your 
Account. 

The maximum amount that 
you can have outstanding 
on your Account at any 
time taking into 
consideration your credit 
worthiness and/or payment  
history.   

Promotions 
Introductory Offers 

or 

Special offers related to 
your Account. 

Rewards 

Foreign 
Transactions, Fees 
and Exchange Rate 

Loyalty Rewards tied to the 
use of your Card.  

Transactions that take 
place outside the United 
States. They will be billed 
to you in U.S. Dollars. 

Mobile Wallet 
Service 

The payment service 
provided by third 
party/mobile device which 
allows you to make 
Purchases or payments 
with your credit Card 
through a wallet enabled 
mobile device. 

WHAT DO YOU HAVE TO PAY AND WHEN?  

We will send your billing statement each month to the address on file as long as there are transactions or a balance due during the billing 
cycle. It will show your Minimum Payment and the Payment Due Date, and will provide instructions for making your payment.  

TERMS WE USE 

WHAT IT MEANS 

HOW IT AFFECTS YOU 

Payment Instructions 

The instructions on your 
billing statement for making 
payments to your Account. 

You must follow the payment instructions provided on your billing statement. 
All payments made by check must be drawn on a U.S. financial institution in 
U.S. Dollars made to the order of Banco Popular de Puerto Rico. Any such 
payment must be sent to the special address identified on your billing 
statement accompanied with the payment stub. You authorize us to either use 
information from your check to make a one-time electronic fund transfer from 
your account or to process the payment as a check transaction. Mailed 
payments are credited on the same day received if they are received by 5:00 
p.m. AST Monday through Friday (excluding holidays). Electronic and 
telephone payments are credited on the same day if they are received by 5:00 
p.m. EST Monday through Friday (excluding holidays). We may apply a credit 
line availability hold condition to your Account in the amount of the payment 
until your check or other payment instrument has cleared. The result of this 
hold is that the credit line availability resulting from a payment to your Account 
will be delayed. The payment will be applied to your Account on the date we 
receive it in accordance with this section. We may take up to 5 days to 

 
 
 
process any credit of other payments that do not meet these requirements, 
during which interest will not accrue. We may accept and process late, partial 
and payments marked as “paid in full” without losing our rights under this 
Agreement. If your payment is reversed due to insufficient funds or a returned 
check, we will apply a credit line availability hold condition to your Account and 
you may lose any special APR offers. The result of this hold is that the credit 
line availability resulting from a payment to your Account will be delayed for 7 
calendar days after the payment is processed. The hold condition will be 
canceled after 6 billing cycles where no other payment reversal event takes 
place. 
Your monthly billing statement will list the Payment Due Date. It will usually 
be the same day of each month, at least 25 days after closing of the billing 
cycle shown on the billing statement. 

You agree to pay at least the Minimum Payment when due. For Account 
balances between $0.01 up to $26.99, the Minimum Payment will be the 
outstanding balance. For balances of $27 and over, the Minimum Payment 
will be 2% of the outstanding balance or the Interest Charge + $10 or a fixed 
amount of $27, whichever is higher. The Minimum Payment will include any 
past due amounts, any Late Payment fee and the total of any amount 
charged in excess of your credit limit.  
If you receive this offer, your billing statement may reflect a required Minimum 
Payment of $0, and you may not have to make the Minimum  Payment for that 
billing cycle. If you decide to skip a payment we will continue to accrue 
Interest Charges on the unpaid balance of your Account during that period.  
However, you can always make a payment for any amount.  At the end of the 
skip a payment period, the terms of the Agreement regarding the required 
Minimum Payment will automatically resume.   

You will not be charged interest from the time you purchased goods or 
services, if you pay your full account balance by the Payment Due Date. In the 
event you don’t pay the full account balance, while in the Grace Period, you 
will not pay interest on the amount paid for that cycle. On subsequent cycles 
you will not have a Grace Period until you pay your full Account balance on 
time for two cycles in a row. Amounts related to certain offers will not be taken 
into consideration in determining the Grace Period. Please refer to the offer 
terms and conditions.  

The No Grace Period Transactions begin to accrue interest on the date they 
are posted and remain subject to Interest Charges until paid in full.  

We will apply your Minimum Payment in the following order: to Interest 
Charges, then to Fees and the remaining amount is applied first to the 
balance with the lowest APR and then to the balance with the higher APR in 
ascending order. Consequently, the balance with the higher APR will not be 
reduced, until the balance with the lower APR is paid in full. If you pay an 
amount in excess of the Minimum Payment, the excess will be applied to 
balances with the highest APRs first. 
We may reject and return to you any payment that creates a credit balance on 
your Account.  If we allow any credit balance in your Account due to any 
inadvertent overpayment, you may request a refund of credit balances at any 
time. We will not pay interest on any credit balance in your Account.  If no 
refund is requested, we will apply credit balances to new transactions, unless 
prohibited by law.  If you do not make new transactions within 180 days, we 
will send you a refund. 

Payment Due Date 

Minimum Payment 

The date by which we must 
receive the Minimum 
Payment in order for it to 
be on time.   

The minimum amount you 
must pay each billing cycle, 
as shown on your billing 
statement. 

Skip A Payment Offer 

We may offer you, at our 
option, to skip a Minimum 
Payment for certain billing 
cycles.   

Paying Interests 

Grace Period on 
Purchases 

The period of time during 
which you are not charged 
interest on Purchases if 
you pay the full account 
balance on time.  

No Grace Period 

Application of 
Payments 

There is no Grace Period 
for Balance Transfer  or 
Cash. Advances or when 
you use Convenience 
Checks 
How we apply your 
payment to the balance on 
your Account. 

Credit Balances 

When an inadvertent 
overpayment occurs in 
your Account. 

WHAT ARE THE CHARGES AND HOW ARE THEY CALCULATED? 

TERMS WE USE 

WHAT IT MEANS 

HOW WE CALCULATE IT 

Daily Balance 

The balance on each 
transaction type and APR 
each day. 

We calculate the Daily Balance by taking the beginning balance for each type 
of transaction and APR each day, adding any new transactions, and then 
subtracting any payments and/or credits and other adjustments. We treat any 
daily balance that is a credit balance as a zero balance. 

Average Daily 
Balance 

The average balance each 
day during the billing cycle. 

We calculate the Average Daily Balance by adding all of the Daily Balances 
for each day in the billing period and then dividing by the total number of days 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Annual Percentage 
Rate (APR) 

An annualized interest rate.  
Different APRs apply to the 
different transaction types, 
as shown on the Account- 
Opening Disclosures.  

Daily Periodic Rate 
(DPR) 

A daily interest rate we 
calculate. 

Interest Charges  

The amount we charge you 
for your credit on each 
transaction type. 

in the billing period. 
Your APRs are variable. They increase or decrease with the Prime Rate. The 
APR will be determined by adding the Prime Rate (as published by The Wall 
Street Journal) to a margin. The margin applicable to your Transaction types 
will depend on your credit worthiness at the time of approval of your 
application and will be set at the time of approval of your application. For each 
billing cycle, the Interest Charge and the APR will be based on the Prime Rate 
three business days prior to your billing statement closing date. If The Wall 
Street Journal is not published, we will select a similar rate. We may change 
the margins from time to time for new transactions with notice to you. 
We calculate interest using the daily periodic rate. The DPR for a given 
balance is equal to the APR for that balance divided by 365 and rounded up 
as permitted by law.   

We add the Interest Charges to the Account by adding the Interest Charges to 
each transaction type balance and APR to which it applies. (For example, we 
add Interest Charges on Purchases to the Purchases balance.) We calculate 
the Interest Charge by applying the DPR for each transaction type and APR to 
the Average Daily Balance for that transaction type. We multiply the result by 
the number of days in the billing cycle. That gives us the total Interest Charges 
for that transaction type for that billing period.  
Cash Advance, Balance Transfer, and Convenience Check fees are added to 
their corresponding balances, as applicable, and all other fees are added to 
the Purchases balance. 

WHAT IF YOU PAY LATE? 

If you pay the Minimum Payment amount by the Payment Due Date, you will not pay penalties. You should pay on time. 

PENALTY 

WHAT IT MEANS 

WHAT WE WILL CHARGE YOU 

Late Payment Fee 

The fee we charge each 
time your payment is late. 

Default or Penalty 
APR 

A higher Interest Charge 
for default. 

If you pay late, or you pay less than the Minimum Payment, we may charge 
you a late payment fee in the amount set forth on the Account Opening 
Disclosures. In no event will your late payment fee exceed the amount of 
your Minimum Payment due. 
If we do not receive any Minimum Payment within 60 days of the Payment Due 
Date, the Penalty APR will apply to all outstanding balances, as well as to future 
transactions.  The  Penalty  APR  will  stop  being  applied  to  transactions  that 
occurred prior to or within 14 days after we provided notice about the increase 
to the Penalty APR if we receive six consecutive Minimum Payments on the 
Payment  Due  Date  beginning  immediately  after  the  increase  to  the  Penalty 
APR. 

Returned Payment 
Fee 

A fee charged when your 
payment is returned for 
insufficient funds. 

We may charge a returned payment fee in the amount set forth on the 
Account Opening Disclosures.  

WHAT OTHER FEES MAY APPLY? 

There may be times when circumstances result in a fee or other action being assessed on the Account. The Account Opening 
Disclosures list the amounts of these fees. All such fees will be added to the Purchase balance, unless otherwise indicated. Additional 
fees for special services you request may apply, except as they may be unenforceable or inapplicable within Maryland. You will be 
advised of the amount of such fees at the time of your request.  

FEE 

Annual Fee 

WHAT IT MEANS 

WHAT WE WILL CHARGE YOU 

A fee we may charge 
annually for use of the 
Card. 

If applicable, the Annual Fee will be reflected in your first billing statement after 
the first Card is issued and subsequently on each anniversary of the issuance 
of the Card.   

Billing Statement 
Reprint Fee 

You can request a copy of 
your billing statement. 

We may add a billing statement Reprint fee of $2.50 to your Purchase 
balance if you request a copy of your  billing statement. 

Card Replacement 
Rush Order Fee 

You can request that a new 
or replacement Card be 
sent to you on an 
expedited basis. 

We will add a Rush Order fee of $25 to your Purchase balance if you 
request that a new or replacement Card be sent to you on an expedited 
basis. 

HOW CAN WE MAKE CHANGES? 

 
 
  
 
 
 
We may have a number of reasons why we need to make changes in this Agreement and the terms of your Account from time to time. 
We can make these changes in accordance with law.  Written notice will explain how changes apply. 

TYPE OF CHANGE 

WHAT MAY TRIGGER CHANGE  ADVANCE NOTICE 

Default or Penalty APR applies 
to existing balances 

Other APR increases on new 
transactions 

If you are 60 days past due. 

45 days 

In the first year, an introductory 
APR ends or the Prime Rate 
changes. After that, any reason. 

None for Introductory APR expiration. Other increases 45 
days. For Iowas 60 days. 

Increase or decrease to Credit 
Limits 

Any reason. 

Some fees and other terms 

Any reason. 

WHAT HAPPENS IF? 

None 

Up to 45 days for certain fee and Minimum Payment 
changes. For Iowa 60 days.  

WHAT YOU MUST DO 

HOW IT AFFECTS YOU 

Your Card is lost or stolen, or 
your Account has been 
compromised? 

Contact us immediately and stop 
using your Account. Contact us at 
the address or telephone number 
listed on your billing statement or 
Card. 

You will not be liable for any unauthorized use that occurs 
after you notify us. You may, however, be liable for 
unauthorized use that occurs before your notice to us. In any 
case, your liability will not exceed $50. 

Your Account is closed or 
suspended? 

You must still repay all amounts 
you owe under this Agreement. 

You remain responsible for your balance. 

Notify us of any change. 

We may also ask you to provide us updated financial 
information about you, and you agree to do so. 

Your name, address, 
telephone number, email 
address or other information 
has changed. 

MOBILE WALLET SERVICE 

WHAT IT MEANS 

WHAT YOU AGREE TO 

A way to make Purchases or  
payments using a mobile 
device 

You may choose to add your  Card number to a Mobile Wallet Service. If you do so, you 
acknowledge that we are not a provider of the Wallet, we do not control the device and we are not 
responsible for any failure or inability to perform a transaction using the Wallet. We are only 
responsible for supplying information securely to the Wallet provider to allow usage of your Card in 
the Wallet.  We reserve the right to define product eligibility. You agree that any such use of your 
Account will be subject to all the terms and conditions contained in this Agreement.  Your applicable 
Purchase APR will apply to Purchases made using the Mobile Wallet Service.  You acknowledge 
that certain message and data rates may apply from your wireless service providers and/or wireless 
carriers which might impact your use of the Wallet. For example, your mobile service carrier or 
provider may impose data usage or text charges for your use of or interaction with the Wallet, 
including downloading the software, receiving or sending text messages, or other use of your 
mobile device when using the software or other products and services provided by the Wallet. You 
expressly agree that you are responsible for all such fees, limitations, and restrictions and that we 
may contact you via your mobile device for any purpose concerning your Account with us, including 
Account servicing and collection purposes. We do not control the privacy and security of your 
information that may be held by the Wallet provider and that is governed by the privacy policy given 
to you by the Wallet provider. You agree not to leave your Mobile Device unattended while logged 
into the Wallet and to log off immediately at the completion of each access by you. You agree not to 
provide your password or other access information to any other person. If you believe that someone 
may have unauthorized access to your Mobile Device, you agree to immediately cancel your access 
to the Wallet associated with the Mobile Device. You agree to provide us with immediate notice in 
the event you suspect fraud or any unauthorized access to any of your Accounts. You agree to take 
every precaution to ensure the safety, security and integrity of your Account and transactions when 
using the Wallet.  Except as otherwise required by law, we may at our sole discretion change these 
terms, and modify or cancel the eligibility to use your Card with a Wallet service at any time, without 
notice. You cannot change these terms but you can terminate them by removing your Card from the 
Wallet. We reserve the right to refuse any transaction for any reason. 
You expressly understand and agree that your use of a Mobile Wallet Service is at your sole risk. 
Any material downloaded or otherwise obtained through the use of the Wallet is obtained at your 
own discretion and risk, and we are not responsible for any damage to your Mobile Device or loss of 
data that results from the download  of any such material, whether due to any computer virus or 

 
 
 
 
otherwise. We make no representation or warranty as to the completeness, accuracy, reliability, or 
currency of any information or data that you obtain through the use of a wallet. 

WHAT ARE OUR RIGHTS If YOU DEFAULT OR WE HAVE A DISPUTE? 

Your Default 

Arbitration of 
Disputes 

An Account will be in default if: 
1) you fail to make at least the Minimum Payment when due; 2) you violate any other provision of this Agreement; 
3) we believe you may be unwilling or unable to pay your debts on time; 4) you file for bankruptcy; or 5) you 
become incapacitated or die. 
If your Account is in default, we may close your Account or terminate or suspend your credit privileges without 
notice and require full payment of your outstanding balance immediately. 
We can also begin collection activities.  To the extent permitted by law, if you are in default because you have 
failed to pay us, we will require you to pay our collection costs, attorneys’ fees, court costs and all other expenses 
of enforcing our rights under this Agreement. 
This Agreement contains an Arbitration Provision immediately below. Within 90 days after the date we 
open your Account, you may elect to reject the Arbitration Provision by providing a written notice of your 
intention to do so to the address: Legal Division (745), Banco Popular de Puerto Rico, P.O. Box 362708, 
San  Juan,  Puerto  Rico  00936-2708.  Unless  you  submit  your  rejection  or  to  the  extent  permitted  by 
applicable law, the Arbitration Provision will have a substantial impact on how any legal claims we have 
against  each  other  are  resolved  if  either  you  or  we  elect  arbitration.  For  example,  disputes  subject  to 
arbitration are decided by a neutral arbitrator and not a judge or jury. Also, if you or we elect arbitration, 
neither you nor we will have the right to participate in a class action, either in court or in arbitration. This 
Arbitration Provision will not apply to, or be enforceable against, covered borrowers under the protection 
of the Military Lending Act. 

ARBITRATION PROVISION 

 
 
 
 
IMPORTANT WAIVERS: IF YOU OR WE ELECT TO ARBITRATE A CLAIM, YOU AND WE BOTH WAIVE THE RIGHT TO: (1) 
HAVE A COURT OR A JURY DECIDE THE CLAIM; (2) PARTICIPATE IN A CLASS ACTION IN COURT OR IN ARBITRATION, 
WHETHER AS A CLASS REPRESENTATIVE, CLASS MEMBER OR OTHERWISE, OR ACT AS A PRIVATE ATTORNEY 
GENERAL IN COURT OR IN ARBITRATION (THE “CLASS ACTION WAIVER”); (3) JOIN OR CONSOLIDATE CLAIM(S) WITH 
CLAIMS INVOLVING ANY OTHER PERSON OR (4) OBTAIN INFORMATION EXCEPT AS PROVIDED HEREIN. OTHER RIGHTS 
ARE MORE LIMITED IN ARBITRATION THAN IN COURT OR ARE NOT AVAILABLE IN ARBITRATION. 

DEFINITIONS – In this Arbitration Provision, the following definitions will apply: 
“Administrator” means, as applicable, the American Arbitration Association (the “AAA”) or J.A.M.S./Endispute (“JAMS”) or if the 
AAA and JAMS cannot or will not serve, an arbitration administrator agreed-upon by the parties or appointed by a court, provided that 
the Administrator must not have in place a formal or informal policy that is inconsistent with and purports to override the terms of this 
Arbitration Provision. You may select the Administrator when you give written notice of an election to arbitrate a Claim or within 20 
days after we give such a written notice. Otherwise, we will select the Administrator.  
“Claim” means any legal claim, dispute or controversy between you and us that arises from or relates in any way to this Agreement 
or the credit card Account including: (i) the fees or charges we or other parties impose in connection with this Agreement or the credit 
card Account or the other provisions of this Agreement; (ii) the interest, if any, paid on the credit card account; (iii) any application, 
disclosure or other document relating in any way to this Agreement; (iv) any service or product offered or made available by or 
through us in connection with this Agreement, including any associated fees, charges, terms or disclosures; (v) any documents, 
instruments, advertising or promotional materials that contain information about this Agreement or credit card Account, or any other 
such service or product; and (vi) the relationships resulting from any of the foregoing. This includes, without limitation, disputes 
involving alleged fraud or misrepresentation, breach of contract, negligence or violation of statute, regulation or common law; and 
disputes involving requests for injunctions or other equitable relief. However, “Claim” does not include: (a) any individual action 
brought by you in small claims court or your state’s equivalent court, unless such action is transferred, removed or appealed to a 
different court; (b) any dispute or controversy about the validity, enforceability, coverage or scope of this Arbitration Provision or any 
part thereof (including, without limitation, the Class Action Waiver set forth below, subparts (A) and (B) of the part set forth below titled 
“Survival, Primacy, Severability” and/or this sentence); all such disputes or controversies are for a court and not an arbitrator to 
decide (but any challenge to this Agreement as a whole is for an arbitrator and not a court to decide); or (c) any exercise by us of our 
right to off-set against the amounts you owe us with the amounts you have on deposit with us or any proceeding by you to enjoin the 
exercise of such right.  
STARTING ARBITRATION – To initiate arbitration, you or we must give written notice of an election to arbitrate. This notice may be 
given after a lawsuit has been filed and may be given in papers or motions in the lawsuit, such as a motion to compel arbitration. 
Even if all parties have opted to litigate a Claim in court, you or we may elect arbitration with respect to any Claim made by a new 
party or any Claim later asserted by a party in that or any related or unrelated lawsuit (including a Claim initially asserted on an 
individual basis but modified to be asserted on a class, representative or multi-party basis). Nothing in that litigation shall constitute a 
waiver of any rights under this Arbitration Provision. If notice of an election to arbitrate is given, the Claim shall be resolved by 
arbitration under this Arbitration Provision and the applicable rules of the Administrator then in effect. The arbitrator will be selected 
under the Administrator’s rules, except that the arbitrator must be a lawyer with at least 10 years of experience or a retired judge, 
unless you and we agree otherwise. 
LOCATION AND COSTS – Any arbitration hearing that you attend will take place in a location that is reasonably convenient to you. 
We will consider (and generally honor) any good faith request to bear the fees charged by the Administrator and the arbitrator(s). 
Each party shall pay its own expenses; provided, if we lose, we will also pay all fees charged by the Administrator and the arbitrator(s) 
and all reasonable fees of your attorneys. In all cases, we will pay all fees and costs (including attorneys’ fees) we are required to 
bear under applicable law and/or in order for us to enforce this Arbitration Provision. 
DISCOVERY; GETTING INFORMATION – Either party may obtain from the other party prior to the hearing any information available 
under the Administrator’s rules or any information the arbitrator determines should be made available.  
EFFECT OF ARBITRATION AWARD – Any court with jurisdiction may enter judgment upon the arbitrator’s award. The arbitrator’s 
award will be final and binding, except for: (1) any appeal right under the Federal Arbitration Act, 9 U.S.C. §§1 et seq. (the “FAA”); 
and (2) Claims involving more than $50,000. For Claims involving more than $50,000, any party may appeal the award to a three-
arbitrator panel appointed by the Administrator, which will reconsider de novo any aspect of the initial award that is appealed. The 
panel’s decision will be final and binding, except for any appeal right under the FAA. 
GOVERNING LAW – This Arbitration Provision is made pursuant to a transaction involving interstate commerce and shall be 
governed by the FAA, and not by any state law concerning arbitration, provided that the law of New York shall be applicable to the 
extent that any state or territorial law is relevant in determining the enforceability of this Arbitration Provision under Section 2 of the 
FAA. The arbitrator shall follow applicable substantive law to the extent consistent with the FAA, applicable statutes of limitation and 
applicable privilege rules, and shall be authorized to award all remedies that would apply under applicable law to an individual action 
brought in court , including, without limitation, compensatory, statutory and punitive damages (subject to constitutional limits that 
would apply in court), declaratory, injunctive and other equitable relief (but only in favor of the individual party seeking relief and 
only to the extent necessary to provide relief warranted by that party’s individual claim), and attorneys’ fees and costs. Upon the 
timely request of either party, the arbitrator shall write a brief explanation of the basis of his or her award. The arbitrator will follow 
rules of procedure and evidence consistent with the FAA, this Arbitration Provision and the Administrator’s rules. 
SURVIVAL, PRIMACY, SEVERABILITY – This Arbitration Provision shall survive closure of your credit card Account; our sale or 
transfer of our rights under this Agreement; any legal proceeding or set-off to collect a debt owed by you; or any bankruptcy or 
insolvency. In the event of any conflict or inconsistency between this Arbitration Provision and the Administrator’s rules or this 
Agreement, this Arbitration Provision will govern. If any portion of this Arbitration Provision cannot be enforced in a proceeding 
between you and us, the rest of the Arbitration Provision will continue to apply, except that: (A) the entire Arbitration Provision (except 
for this sentence) shall be null and void if the class action waiver is held to be invalid regarding any class or representative Claim in a 
proceeding between you and us, subject to any right to appeal such holding, and (B) if a Claim is brought seeking public injunctive 
relief and a court determines that the restrictions in the class action waiver or other parts of this Arbitration Provision prohibiting the 
arbitrator from awarding relief on behalf of third parties are unenforceable with respect to such Claim (and that determination 
becomes final after all appeals have been exhausted), the Claim for public injunctive relief will be determined in court and any 
individual Claims seeking monetary relief will be arbitrated. In such a case the parties will request that the court stay the Claim for 

 
 
 
public injunctive relief until the arbitration award pertaining to individual relief has been entered in court. In no event will a Claim for 
class-wide relief or for public injunctive relief be arbitrated. 
BREACH OF ARBITRATION AGREEMENT – If either party fails to submit to arbitration following a proper demand to do so, that 
party shall bear all costs and expenses, including reasonable attorneys’ fees, incurred by the other party in seeking to compel 
arbitration. 

Contacting Arbitration Administrators 
If you have a question about the arbitration administrators mentioned in this Arbitration Provision or would like to obtain a copy of their 
Arbitration Rules or fee schedules, you can contact them as follows: American Arbitration Association, 1633 Broadway, 10th Floor, 
New York, New York 10019, www.adr.org, (800) 778-7879. Commercial or Consumer Rules, J.A.M.S./Endispute, 222 South Riverside 
Plaza, Suite 1850, Chicago, IL 60606; www.jamsadr.com (800) 352-5267, Financial Services Arbitration Rules and Procedures. 

WHAT OTHER TERMS APPLY TO OUR RELATIONSHIP? 

Closing the 
Account 

You may close your Account at any time by notifying us either in writing at the address shown on your billing 
statement or by phone at the number provided on your billing statement. We will not honor any Convenience 
Check or authorize any transactions after your Account is closed. We may close your Account or terminate your 
credit privileges at any time for any reason, subject to applicable law. If we do so, you may not use your Card or 
any checks we have issued. In either case, You remain responsible for any balance on your Account, which will 
continue to accrue Interest Charges and fees and remain subject to all terms of this Agreement. 

Privacy 

The Popular, Inc. (our holding company) Privacy Notice explains how we collect and share your information. 

Communications  We may send Cards, billing statements, and other communications to you at any mailing or email address in our 

records. We may also send an email to any address where we reasonably believe we can contact you. By 

 
 
 
providing a telephone number for a cellular telephone, other wireless device, or a landline number that is later 
converted to a wireless device, you are expressly consenting to receiving communications at that number, 
including, but not limited to, prerecorded or artificial voice message calls, text messages, and calls made by an 
automatic telephone dialing system from Banco Popular and its affiliates, agents or assigns. If the wireless device 
is not registered in your name, you represent that you are its primary user and have the authority to provide this 
consent. This express consent applies to each such telephone number that you provide to us now or in the future 
and permits such calls regardless of their purpose.  
Some of the legal purposes for calls and messages include: suspected fraud or identity theft, obtaining 
information; transaction on or servicing of the Account; collecting on the Account, and providing you information 
about product and services. These calls and messages may incur access fees from your cellular provider. You 
must notify us immediately of any changes to your contact information using the address or phone number shown 
on your billing statement. 

We or a third party may listen to and record your telephone calls with us. 

We may obtain and review your credit history or other information about you from credit reporting agencies and 
others, including in connection with the processing, establishment, servicing and collection of your Account.  We 
may also obtain additional credit reports or other information about you in connection with the same transaction 
or extension of credit, for the purpose of reviewing your Account, increasing the credit line on your Account, for 
the purpose of taking collection action on your Account, or for other legitimate purposes associated with your 
Account. You may ask whether a credit report was obtained by us and we will tell you the name and address of 
the credit reporting agency, if a report was obtained. 
We may also provide information about your Account to credit reporting agencies and others.  A negative credit 
report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of 
your credit obligations. We may provide information to credit reporting agencies about this Account in the name 
of an authorized user. If you think we provided incorrect information, write to us at the address provided on your 
billing statement and we will investigate.   

We may choose to delay enforcing or waive any of our rights under this Agreement. We can delay enforcing or 
waive any of our rights without affecting our other rights. If we waive a right, we do not thereby waive the same 
right in other situations. 

This Agreement and the Account will be governed by federal law, and to the extent state or territorial law is 
applicable, the laws of the Commonwealth of Puerto Rico, and these laws will apply no matter where you live or 
use this Account. 

We may change or terminate all or any part of this Agreement, including APRs and fees, at any time. We may 
also add new terms or delete terms. Any changes will be in accordance with applicable law, and we will provide 
notice as required by law.  

We may sell, assign or transfer the Agreement and the Account or any portion thereof without notice to you, and 
the purchaser, assignee, or transferee shall have the same rights as we do under this Agreement. You may not 
sell assign, or transfer the Account. 

Except as specifically provided in the arbitration section above, if any provision of this Agreement is finally 
determined to be void or unenforceable under any law, rule or regulation, all other provisions of this Agreement 
will remain valid and enforceable. 

Telephone 
Monitoring 

Credit 
Information 

Enforcement 

Applicable Law 

Amendments 

Assignment 

Severability 

Restrictions on 
Use 

Banco Popular may restrict use of your Card in any jurisdiction or country where such use would be contrary to 
U.S. law or regulation, or which is identified as presenting a high risk of fraud.  

Additional Disclosures for Residents of Specific States 

 
 
 
 
 
 
 
 
 
 
Florida Residents: You (borrower) agree that, should we obtain a judgment against you, a portion of your disposable earnings may 
be attached or garnished (paid to us by your employer), as provided by Florida and Federal law. 
Kentucky Residents: You may pay the unpaid balance of your account in whole or in part at any time. 
Maryland Residents: To the extent federal law and the laws of the Commonwealth of Puerto Rico do not apply, this Agreement is 
governed by Title 12, Subtitle 9 of the Maryland Commercial Law Article. 
Missouri Residents: Oral agreements or commitments to loan money, extend credit or to forbear from enforcing repayment of a debt 
including promises to extend or renew such debt are not enforceable. To protect you (borrower(s)) and us (creditor) from 
misunderstanding or disappointment, any agreements we reach covering such matters are contained in this writing, which is the 
complete and exclusive statement of the agreement between us, except as we may later agree in writing to modify it. 
New Jersey Residents: Because certain provisions of this Agreement are subject to governing law, they may be void, unenforceable 
or inapplicable in some jurisdictions. None of these provisions are void, unenforceable or inapplicable within New Jersey. 
New Hampshire Residents: Reasonable attorney’s fees will be rewarded to you if you prevail in any action, suit or proceeding 
brought by us or an action brought by you. Also, if you successfully assert a partial defense or set-off, recoupment or counterclaim to 
an action brought by us, the court may withhold from us the entire amount or such portion of the attorney’s fees as the court considers 
equitable. 
Washington Residents: Pursuant to the Revised Code of Washington, Section 63.14.167, you are not responsible for payment of 
any service charges that result solely from a merchant’s failure to transmit to us within seven working days a credit for goods or 
services accepted for return or forgiven if you have notified us of the merchants delay in posting such credit or failure to post such 
credit to your account within three working days of our receipt of the credit. 

Notice Legal Rights and Protections under the Military Lending Act 

If you are a servicemember on “active duty” or “active service”, or a spouse or dependent of such servicemember you may be 
entitled to certain protections pursuant to the Military Lending Act (MLA) [32 CFR Part 232]. The following statement only applies if 
you are a covered borrower under the Military Lending Act (MLA) [32 CFR Part 232]. 

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 Forced 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). If you would like to obtain these disclosures orally, you may call the 
toll-free number 1-844-773-6499. 

YOUR BILLING RIGHTS – Keep this document for future use 

This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.  
What to Do If You Find A Mistake On Your Billing Statement  
If you think there is an error on your billing statement, write us at the address shown on your billing statement. In your letter, give us 
the following information.  

• Account information: Your name and Account number.  
• Dollar amount: The dollar amount of the suspected error.  
• Description of the problem: If you think there is an error on your billing statement, describe what you believe is wrong and why 

you believe it is a mistake.  

You must contact us:  

• Within 60 days after the error appeared on your billing statement.  
• At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is 

wrong.  

You must notify us of any potential errors in writing. You may call us, but if you do we are not required to investigate any potential 
errors and you may have to pay the amount in question.  
What Will Happen After We Receive Your Letter  
When we receive your letter, we must do two things:  

1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already 

corrected the error.  

2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the billing statement is 

correct.  

While we investigate whether or not there has been an error:  

• We cannot try to collect the amount in question, or report you as delinquent on that amount.  
• The charge in question may remain on your billing statement, and we may continue to charge you interest on that amount.  
• While you do not have to pay the amount in question, you are responsible for the remainder of your balance.  
• We can apply any unpaid amount against your credit limit.  
After we finish our investigation, one of two things will happen:  

• 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 we do not believe there was a mistake: You have to pay the amount in question, along with applicable interest and fees. We will 

 
 
 
 
 
 
send you a billing statement of the amount you owe and the date payment is due. We may then report you as delinquent if you 
do not pay the amount we think you owe.  

If you receive our explanation but still believe your billing statement is wrong, you must write to us within 10 days telling us that you 
still refuse to pay. If you do so, we cannot report you as delinquent without also reporting you are questioning your billing statement. 
We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the 
matter has been settled between us.  
If we do not follow all of these rules above, you do not have to pay the first $50 of the amount you question even if your billing statement 
is correct.  
Your Rights If You Are Dissatisfied With Your Credit Card Purchases  
If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in good faith to 
correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase.  
To use this right, all of the following must be true:  

1. The purchase must have been made in your home state (or territory) or within 100 miles of your current mailing address, and the 
purchase  price  must  have  been  more  than  $50.  (Note:  Neither  of  these  are  necessary  if  your  purchase  was  based  on  an 
advertisement we mailed to you, or if we own the company that sold the good or services.)  

2. You must have used your credit card for the purchase. Purchases made with Cash Advances from an ATM or with a check that 

accesses your credit card Account do not qualify.  
3. You must not yet have fully paid for the purchase.  

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at the address shown on your 
billing statement.  
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell 
you our decision. At that point, if we think you owe an amount and you do not pay, we may report you as delinquent.