Credit Card Agreement for Saks World Cards in Capital One, 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, 2016. 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
19.24% - 21.24%.
(APR) for Purchases
This APR will vary with the market based on the Prime Rate.
APR for Balance
19.24% - 21.24%.
Transfers
This APR will vary with the market based on the Prime Rate.
APR for Cash Advances
25.49%.
This APR will vary with the market based on the Prime Rate.
Penalty APR and
30.24%.
When It 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 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
interest on new purchases, provided you have paid your previous balance in full by the due
date each month. We will begin charging interest on cash advances and special 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
Either $15 or 3% of the amount of each Balance Transfer, whichever is greater.
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
Welcome to Capital One
notice is required by law, and we may limit or take away the
Thank you for opening a credit card account with us.
credit available for Cash Advances. You can find your current
This Customer Agreement, including any changes to it
revolving credit line on your Statement. We may not authorize
("Agreement"), contains the terms of your agreement with
transactions in excess of your revolving credit line. We may
Capital One.
consider each transaction that may cause you to exceed your
revolving credit line based on several factors, including your
Interaction with your Store Account
performance on this Account and other credit accounts you
Your transactions with retailers other than Saks Fifth
have with us and your performance with other creditors. If we
Avenue will be governed by the terms of this Agreement.
do authorize transactions in excess of your revolving credit
Any transactions you make at retailers operated by Saks
line, they will be subject to this Agreement. They will not
Fifth Avenue will continue to be governed by your Saks Fifth
result in an increase of your revolving credit line.
Avenue store credit card account terms and its customer
agreement. You must have an open Saks Fifth Avenue
Using Your Account
private label account to remain eligible for this Saks Fifth
(1) This Agreement applies whether or not you use your
Avenue MasterCard account. If your private label account is
Card or Account. It will continue to apply even after your
closed for any reason, this Saks Fifth Avenue MasterCard
Account is closed, as long as you have a balance.
account will be closed.
(2) You must sign the Card immediately when you receive it.
(3) You must return the Card to us or destroy it if we ask
Definitions
you to.
The meanings of the terms you see in italics appear in the
(4) You must take reasonable steps to prevent the
Glossary section at the end of this Agreement.
unauthorized use of your Card, Access Checks
As used here, "you" and "your" mean each applicant and co-
and Account.
applicant for the Account; any person responsible for paying
(5) We may decline to authorize a transaction for any
the Account; and any person responsible for complying with
reason. This may occur even if the transaction would not
this Agreement. "We", "us", "our" and "Capital One" mean
cause you to go over your credit limit or your Account is
Capital One, National Association and its agents, authorized
not in default.
representatives, successors and assignees.
(6) We are not responsible for any losses you incur if we do
not authorize a transaction.
Account Documents
(7) We are not responsible for any losses you incur if
The following documents govern your Account with us:
anyone refuses to accept your Card for any reason.
(1) this Agreement;
(8) Unless we tell you otherwise, we will bill each transaction
(2) all Statements;
to the applicable Segment of your Account. We will apply
(3) any rewards program terms, conditions and disclosures;
it against your available credit for that Segment.
(4) any privacy notices;
(9) You may obtain Balance Transfers and Cash Advances
(5) your Card benefits brochure, which describes benefits
as permitted for your Account. You may not use these to
provided by the Payment Card Network for your Account;
pay any amount you owe us or any other company in the
(6) all disclosures and materials provided to you before or
Capital One organization.
when you opened your Account;
(10) You must not use, or try to use, the Card for any illegal
(7) any other documents and disclosures relating to your
activity. You are responsible for any charges if you do.
Account, including those provided online; and
(11) We are not liable for any losses that may result when our
(8) any future changes we make to any of the above.
services are unavailable due to reasons beyond
our control.
Please read these carefully and keep them for
future reference.
Rewards
Your Account may provide you with the opportunity to earn
New Offers
rewards. If it does, we will separately provide you with
In the future, we may provide you with new offers that we
information and terms about the rewards.
think may interest you. The terms of these offers may differ
from the standard terms on your Account. This Agreement
Access Checks
will still apply.
We may provide you with Access Checks. If we do, we will
tell you at the time if we consider them purchases, Cash
Account Information
Advances or Balance Transfers.
We need information about you to manage your Account.
This includes:
Only the person we designate may use Access Checks. You
may not use them to pay any amount you owe us or any
(1) your legal name,
other company in the Capital One organization. We may
(2) a valid U.S. mailing address and residential address
reject and not pay any Access Check if:
(if different),
(3) your date of birth,
(1) your Account is past due, charged off, bankrupt, lost/
(4) your Social Security number or other government
stolen or closed;
identification number,
(2) we suspect fraud;
(5) your telephone number(s), and
(3) your Account is over the revolving credit line; or
(6) your employment and income information.
(4) the check has expired, is damaged or cannot otherwise
be processed.
You must tell us when this information changes. We may
ask you for additional documents to verify any changes. We
Our liability if we do not pay an Access Check will never be
may restrict or close your Account if we cannot verify your
more than (1) your actual damages or (2) the amount of the
information, or if you do not provide it as requested.
Access Check, whichever is less.
Your Revolving Credit Line and Spending
Use of an Access Check is not the same as using your Card.
We will tell you your initial revolving credit line when you open
When you use an Access Check, you will have fewer rights
your Account. We may increase or decrease your revolving
to dispute merchant transactions than with uses of your Card.
credit line at any time without prior notice to you, unless
Please see the "Billing Rights Summary" on your Statement
1
and your other Truth-in-Lending Disclosures for more
Disputed Transactions
information.
You must inspect each Statement you receive. Tell us about
Stopping Payment of Access Checks
any errors or questions you have, as described in the "Billing
You may request a stop payment on any Access Check by
Rights Summary" on your Statement and other Truth-in-
contacting Customer Service.
Lending Disclosures. If you do not notify us of an error, we
will assume that all information on the Statement is correct.
We will have a reasonable amount of time after your stop
payment request to research and complete the stop payment.
If we credit your Account for all or part of a disputed
We will not be responsible if we cannot complete the stop
transaction, you give us all of your rights against others
payment. Reasons include:
regarding that transaction. You will also:
(1) the Access Check was already paid;
(1) give us any information about the disputed transaction, if
(2) you do not give us the information we asked for; or
we ask;
(3) the information you gave us was incorrect.
(2) not pursue any claim or reimbursement of the transaction
amount from the merchant or any other person; and
We do not have to release the stop payment order unless
(3) help us get reimbursement from others.
the account holder who made the request asks us to. If we
No Warranties
re-credit your Account after a valid stop payment order, you
give us all of your rights against the payee or other holder of
We are not responsible for any claim you may have regarding
the paid Access Check. You also agree to help us in any legal
the purchase of goods or services made with your Card
action we may later take against the payee or other holder of
beyond your rights described in the "Billing Rights Summary"
the check.
on your Statement.
Using a PIN
Lost or Stolen Card
We may give you a personal identification number (PIN). For
If your Card is lost or stolen or if you think someone else
security reasons, you may have to provide the PIN before
may be using your Card or Account number without your
you are able to use your Card.
permission, you must contact Customer Service immediately.
You will not be responsible for transactions on your Account
Keep your PIN secure. Do not write it down, give it to anyone
that we find are unauthorized.
or keep it with your Card. If you lose your Card or believe the
confidentiality of your PIN has been compromised for any
If we reimburse you for unauthorized transactions, you will
reason, you must contact Customer Service immediately.
help us investigate, pursue and get reimbursement from the
wrongdoer. Your help includes giving us documents in a form
Authorized Users
that we request.
If you ask us to issue a Card to any other person, they are an
Authorized User. We may require certain information about
Interest Charges and Fees
them. We may limit their ability to use your Card. They may
We will charge Interest Charges and Fees to your Account
have access to certain information about your Account. You
as disclosed on your Statement and other Truth-in-Lending
will be responsible for their use of the Account and anyone
Disclosures. In general, Interest Charges begin to accrue
else they allow to use your Account, even if you did not want,
from the day a transaction occurs. However, we will not
or agree to, that use.
charge you interest on any new transactions posted to the
purchase Segment of your Account if you paid the total
Removing an Authorized User
balance across all Segments of your Account in full by the
If you want to remove an Authorized User from your Account,
due date on your Statement each month. From time to time,
you must contact Customer Service and request their
we may give you offers that allow you to pay less than the
removal. You also must immediately destroy all Cards in their
total balance and avoid Interest Charges on new purchase
possession and cancel any arrangements they may have set
Segment transactions. If we do, we will provide details in the
up on your Account. They will be able to use your Account
specific offer.
until you have notified us that you are removing them from
your Account. During this time, you will still be responsible
We will generally treat Fees as purchase transactions
for all amounts they charge to your Account. You will be
unless otherwise specified below. These Fees apply to your
responsible even if these amounts do not appear on your
Account only if your Truth-in-Lending Disclosures provide for
Account until later.
them. We may increase your Interest Charges and Fees as
described in the Changes to Your Agreement section or in
Authorized Users may remove themselves from your Account
your Truth-in-Lending Disclosures.
upon request. We reserve the right to remove them from your
Account for any reason. To remove them from your Account,
Membership Fee
we may close your existing Account and issue a new Card
If your Account has a membership Fee, we may charge the
with a new Account number.
first membership Fee either on the day you activate your
Card or on the day when you use your Account, whichever
Your Promise to Pay
occurs first. If your Account terms include a $0 introductory
You promise to pay us all amounts due on your Account.
Fee, we may charge the first Fee when the introductory
This includes amounts where you did not sign a purchase
period ends. If it is an annual Fee, we may then charge it
slip or other documents for the transaction. We will treat
approximately once per year. If it is a monthly Fee, we may
transactions made without presenting your actual Card (such
charge it each Billing Cycle.
as for mail, telephone, Internet or mobile device purchases)
the same as if you used the Card in person. If you let
Late Payment Fee
someone else use your Card, you are responsible for all
We may charge you this Fee if we do not receive your
transactions that person makes.
payment as instructed on your Statement by the payment
due date.
Statements
We will generally send or make available to you one
Returned Payment Fee
Statement for all Cards on your Account at the end of each
We may charge you this Fee each time your financial
Billing Cycle. Under certain circumstances, the law may not
institution for any reason rejects a payment you make to us.
require us to send or make available to you a Statement, or
Stop Payment Fee
may prohibit us from doing SO.
We may charge you this Fee each time you ask us to (1) stop
2
payment on an Access Check or (2) renew an existing stop
confirm that your payment has cleared. This may happen even
payment order.
if we credit your payment to your Account. We may resubmit
Cash Advance Fee
and collect returned payments electronically. If necessary, we
may adjust your Account to correct errors, process returned
We may charge you this Fee each time you take out a
and reversed payments and handle similar issues.
Cash Advance. We will treat this Fee as a Cash Advance
transaction.
When you send us an Item as payment, you authorize us to
Balance Transfer Fee
make a one-time electronic fund transfer from your deposit
account. You also authorize us to process the payment as an
We may charge you this Fee each time you make a Balance
Item. We may withdraw the funds from your deposit account
Transfer. We will charge the Fee to the Balance Transfer
as early as the same day we receive your payment. You will
Segment.
not receive your Item back from your bank. We will provide
Transactions Made in Foreign Currencies
additional information about this process on your Statement.
If you make a transaction in a foreign currency, the Payment
We may use the information from an Item to create an
Card Network will convert it into a U.S. dollar amount. The
electronic image. We may collect and return the image
Payment Card Network will use its own currency conversion
electronically. This electronic image may also be converted
procedures. The conversion rate in effect on the processing
to a substitute check and may be processed in the same way
date may differ from the rate in effect on the transaction
we would process an Item. We will not be responsible if an
date that appears on your Statement. We do not adjust the
Item you provide has physical features that when imaged
currency exchange rate or charge any currency conversion
result in it not being processed as you intended.
Fees.
How We Apply Your Payments
Minimum Payment
Your Account may have Segments with different Annual
You must pay us at least the minimum payment amount by
Percentage Rates (APR). For example, purchases may
the payment due date. Your Statement will tell you:
have a lower APR than Cash Advances. If your Account has
(1) the minimum payment due,
Segment balances with different APRs, here is how we apply
(2) your new balance,
payments in a Billing Cycle:
(3) the payment due date and
(1) We generally apply payments up to your minimum
(4) an explanation of when the payment must reach us for us
payment first to the balance with the lowest APR, and
to consider it received as of that date.
then to balances with higher APRs.
Returns and other credits to your Account will reduce your
(2) We apply any part of your payment exceeding your
Account balance, but they will not change your minimum
minimum payment to the balance with the highest APR,
payment amount.
and then to balances with lower APRs.
In addition to the minimum payment, you may pay all or part
We do this based on the APRs in effect and balances owed
of the total balance on your Account. But, you must still pay at
on the day your preceding Billing Cycle ended.
least the minimum payment amount each month, even if you
Items with Restrictive Words, Conditions,
paid more than the minimum payment due on the previous
or Instructions
Statement. We will continue to charge Interest Charges during
You must mail all Items bearing restrictive words, conditions,
Billing Cycles when you carry a balance regardless of whether
limitations or special instructions to:
your Statement includes a minimum payment that is due. If
your Account is 180 days past due, is part of a bankruptcy
Capital One
proceeding, or is otherwise charged off, the total balance is
PO Box 1330
immediately due and payable.
Charlotte, NC 28201-1330
Making Payments
This includes Items marked "Paid in Full" or similar language.
Your payment must be made in U.S. dollars from a U.S.
This also includes all accompanying communications.
deposit account in a form acceptable to us. We do not
If you make such a payment or send any accompanying
accept cash payments through the mail. You may not make
communications to any other address, we may reject it and
payments with funds from your Account or any other credit
return it to you. We may also accept it and process it without
account with us or any other company in the Capital One
losing any of our rights.
organization. You must send mailed payments to us as
Credit Balances
instructed on your Statement, unless we tell you otherwise.
We may reject and return any payment that creates or adds
Other Payment Services
to a credit balance on your Account. Any credit balance we
We may make services available that allow you to make
allow will not be available until we confirm that your payment
faster or recurring payments online or by telephone. We
has cleared. We may reduce the amount of any credit
will describe the terms for using these services and any
balance by any new charges. You may write to the address
applicable Fee before you use them. You do not have to use
provided on your Statement or call Customer Service to
these other payment services.
request a refund of any available credit balance.
We are not responsible if your financial institution rejects a
Account Default
payment made using our payment services.
You will be in default if:
If you ask someone else to make a payment for you, we
(1) you do not make any payment when it is due;
may provide that person with limited Account information
(2) any payment you make is rejected, not paid or cannot be
necessary to set up and process that payment. We may also
processed;
refuse to accept that payment. If we do accept it, you will be
(3) you file or become the subject of a bankruptcy or
responsible for that payment even if a financial institution
insolvency proceeding;
rejects it.
(4) you are unable or unwilling to repay your obligations,
Payment Processing
including upon death or legally declared incapacity;
We may accept and process payments without losing any
(5) we determine that you made a false, incomplete or
of our rights. We may delay the availability of credit until we
misleading statement to us, or you otherwise tried to
defraud us; or
3
(6) you do not comply with any term of this Agreement or any
The Law That Applies to Your Agreement
other agreement with us.
We make decisions to grant credit and issue you a Card
If you are in default, we may take certain actions with respect
from our offices in Virginia. This Agreement is governed by
to your Account. For example, depending on the default, we
applicable federal law and by Virginia law. If any part of this
may take the following actions, without notifying you, unless
Agreement is unenforceable, the remaining parts will remain
the law says that we must give you notice:
in effect.
(1) charge you Fees, or change the APRs and Fees on your
Waiver
Account, if provided in your Truth-in-Lending Disclosures;
We will not lose any of our rights if we delay or choose not
(2) close or suspend your Account;
to take any action for any reason. We may waive our right
(3) lower your revolving credit line;
without notifying you. For example, we may waive your
(4) demand that you immediately pay the total balance owing
Interest Charges or Fees without notifying you and without
on your Account;
losing our right to charge them in the future.
(5) continue to charge you Interest Charges and Fees as long
Assignment
as your balance remains outstanding; and/or
(6) file a lawsuit against you, or pursue another action that is
This Agreement will be binding on, and benefit, any of your
not prohibited by law. If we file a lawsuit, you agree to pay
and our successors and assigns. You may not sell, assign
our court costs, expenses and attorney fees, unless the
or transfer your Account or this Agreement to someone else
law does not allow us to collect these amounts.
without our written permission.
Communications
We may sell, assign or transfer your Account and this
Agreement without your permission and without prior notice
You agree that we may communicate with you by mail,
to you. Any assignee or assignees will take our place under
telephone, email, fax, prerecorded message, automated
this Agreement. You must pay them and perform all of your
voice, text message or other means allowed by law regarding
obligations to them and not us. If you pay us after we notify
your Account.
you that we have transferred your Account or this Agreement,
You agree that we may contact you at any telephone number
we can return the payment to you, forward the payment to the
(including a mobile telephone number that you provide us),
assignee or handle it in another way that is reasonable.
and use an automated telephone dialing system or similar
Glossary
device to do so. You agree that we may monitor or record any
conversation or other communication with you.
"Access Check" means any check we send to you to
access credit from your Account. We may also refer to
Credit Reports
an Access Check as a "convenience check" or a "purchase
We may report information about your Account to credit
check".
bureaus and others. Late payments, missed payments or
"Account" means your Card Account with us.
other defaults on your Account may be reflected in your credit
report. Information we provide may appear on your and the
"Authorized User" means a person who may use
Authorized Users' credit reports.
the Card but is not responsible for the repayment of
the Account.
If you believe that we have reported inaccurate information
about your Account to a credit bureau or other consumer
"Balance Transfer" means an amount posted to the
reporting agency, notify us in writing at PO Box 30258,
Balance Transfer Segment of your Account unless
Salt Lake City, UT 84130-0258. When you write, tell us the
otherwise described in your Truth-in-Lending Disclosures.
specific information that you believe is incorrect and why you
"Billing Cycle" means the period of time reflected
believe it is incorrect.
on a Statement. This period may vary in length, but is
You may contact Customer Service to ask us to close
approximately 30 days. You will have a Billing Cycle even if a
your Account.
Statement is not required. We will often specify a Billing Cycle
by the month in which its closing date occurs. For example,
Closing or Suspending Your Account
a "March Billing Cycle" will have a closing date in March. We
You may contact Customer Service to ask us to close
may also refer to a Billing Cycle as a "Billing Period". If your
your Account.
Account balance has charged off, we may switch to quarterly
We may close or suspend your Account at any time and for
Billing Cycles for your Account.
any reason permitted by law, even if you are not in default.
"Card" means any Capital One credit card associated with
If we close or suspend your Account for any reason,
your Account. This includes all renewals and substitutions.
you must stop using your Card. You must also cancel all
It also means any other access device for your Account
billing arrangements set up on the Account. If we close or
we give you that allows you to obtain credit, including any
permanently suspend your Account, you must return or
Account number.
destroy all Cards. You must still pay us all amounts you owe
"Cash Advance" means a loan in cash or things we
on the Account.
consider cash equivalents, including wire transfers,
Changes to Your Agreement
traveler's checks, money orders, foreign currency, lottery
At any time, we may add, delete or change any term of this
tickets, gaming chips and wagers. We post Cash Advances
Agreement, unless the law prohibits us from doing SO. We
to the Cash Advance Segment of your Account and not to
will give you notice of any changes as required by law. We
your purchase Segment.
may notify you of changes on your Statement or in a separate
"Fees" mean charges imposed on your Account not based
notice. Our notice will tell you when and how the changes will
on the Annual Percentage Rates.
take effect. The notice will describe any rights you have in
connection with the changes.
"Interest Charges" mean any charges to your Account
based on the application of Annual Percentage Rates.
Your variable APRs (if applicable) can go up or down as the
index for the rate goes up or down. If we increase your APRs
"Item" means a check, draft, money order or other
for any other reason, or if we change your Fees or other
negotiable instrument you use to pay your Account. This
terms of your Account, we will notify you as required by law.
includes any image of these instruments. This does not
include an Access Check.
4
"Payment Card Network" means the network provider
displayed on your Card. This may be Visa Inc., MasterCard
International Incorporated or any other network provider.
"Segments" means the different parts of your Account we
may establish that are subject to unique APRs, pricing or
other terms. We create these parts of your Account for such
things as your purchases, Balance Transfers and Cash
Advances. The sum of your Segment balances equals your
total Account balance.
"Statement" means a document showing important
Account information, including all transactions billed to your
Account during a Billing Cycle and information about what
you must pay. We may also refer to your Statement as a
"Periodic Statement" or a "Billing Statement".
"Truth-in-Lending Disclosures" means disclosures that
the federal Truth in Lending Act and Regulation Z require for
any Account. This includes your application and solicitation
disclosures, Account opening disclosures, subsequent
disclosures, Statements and change in terms notices.
CapitalOne
© 2015 Capital One
Capital One is a federally registered service mark.
BR282197 M-113231
5