Revolving Account Plan Agreement 
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Santander Mastercard® Zero Card 

This document and the terms and conditions of your credit card that are disclosed in offers thru promotional letters, telephone, Internet or any 
other means constitute its Revolving Account Plan Agreement with Banco Santander Puerto Rico (hereinafter the "Agreement"). The use of 
the Credit Card (hereinafter the “Card”) which is issued by Banco Santander Puerto Rico (hereinafter the "Bank") at the request of the person 
on behalf of whom the Card is issued (hereinafter the "Holder") shall be governed by the following terms, conditions and clauses: 

USE OF THE CARD: The Holder can use the Card to purchase and/or lease goods and services in those establishments where the Card is 
accepted and to obtain cash advances from the Bank or any other bank that accepts the  Card, subject to those limitations that from time to 
time is established by the Bank or the associated Bank to which the Card is presented.  Similarly, the Holder may perform balance transfers 
subject to the availability of his credit line.  As a fraud prevention measure your card will be blocked for use outside of Puerto Rico and United 
States. The cardholder will be responsible to notify the Bank by calling Banco en Casa at 787-281-2000 or 1-800-726-8263 prior to traveling 
outside of Puerto Rico. This will provide greater security on your transactions and will allow the use of your card abroad, preventing your card 
from being blocked.The holder shall owe the Bank the amount charged to his account for using the Card, plus any Interest Charges to be 
determined,  which  will  become  payable  in  the  legal  tender  of  the  United  States  of  America,  in  its  entirety  or  in  monthly  installments,  in 
accordance with the provisions set forth in this Agreement. 

CREDIT LIMIT: The initial credit limit granted by the Bank for the  Holder’s account will be notified to him upon receipt of the Card. Also, on 
each monthly  account statement the  existing credit  limit  will  appear  as  of  the  date  of  the  statement.  The  Holder  agrees that the  Bank may 
change his credit limit from time to time based on his credit assessment. The Holder may not exceed the credit limit approved by the Bank and 
by doing so the Bank will have the right to cancel the Card, require its return or seize it and close the account. Any amount in excess of the 
limit approved by the Bank shall be paid by the Holder at sight. 

INTEREST CHARGES: The Interest Charges are computed only on the principal balance. The Holder shall pay Interest Charges monthly 
on  the  balance  of  his  account  during  the  billing  period,  as  described  below,  which  will  never  be  higher  than  the  rate  established  by  the 
corresponding laws and regulations. The Interest Charges of the Santander Zero Card for goods and services and cash advances varies in 
accordance  with  the  applicant's credit  score  at  the time  of  the  credit  assessment,  which can  range  from  0.9125%  up  to  2.1625%  (Periodic 
Rate), equivalent to an Annual Percentage Rate (APR) ranging from 10.95% up to 25.95%. If the rate disclosed in the offer that was made to 
you by Banco Santander Puerto Rico thru promotional letter, telephone, Internet or any other means is different to this, the Periodic Rate will 
be computed by dividing the Annual Percentage Rate applicable to your account between twelve (12). An Interest Charge will be imposed on 
purchases charged to this account by applying the specified Monthly Periodic Rate to the Average Daily Balance. This balance is obtained by 
taking  the  initial  balance  for  each  day  in  the  billing  period,  subtracting  payments  and  credits  and  adding  the  purchases,  except  purchases 
made in billing periods where the opening balance of the period is $0 or the initial balance is paid in full within the period. Then we add all daily 
balances within the billing period and divide this total by the number of days within the period. The result is the Average Daily Balance. No 
Interest  Charges  will  be  imposed  for  billing  periods  where  there  is  no  previous  balance  or  during  which  payments  and  credits  match  or 
exceed the previous balance. With regard to  Interest Charges for cash advances, they shall be imposed by applying the specified  Monthly 
Periodic  Rate to the Average Daily Balance  as of the date on which the Holder and/or the persons authorized by the  Holder received such 
cash advances until its total payment. 

PENALTY  RATE:  The  Annual  Percentage  Rate  (APR)  (including  promotional  rates)  that  applies  to  existing  balances  as  well  as  new 
purchases  of  goods  and  services,  cash  advances  and  balances  transferred  to  your  account,  may  increase  to  28.99%  APR  if  the  following 
condition occurs: 
• The minimum payment on your account is not received for two (2) consecutive billing periods. 
Your account will be eligible to return to the regular Annual Percentage Rate (APR) once the account is up to date and you have made six (6) 
consecutive minimum payments on or before the corresponding due dates. The Bank shall notify the increase in the penalty rate with no less 
than forty-five (45) days prior to the effective date of the increase. 

PROMOTIONAL  RATES:  If  the  Holder  has  been  granted  at  a  promotional  rate  (Annual  Percentage  Rate  (APR)  applicable  to  existing 
balances, new purchases of goods and services, balance transfers and cash advances charged to your account) the same will be  in effect 
during  the  term  specified  in  the  offer  made  by  the  Bank.  However,  if  the  Holder  decides  to  cancel  his  account  before  the  end  of  the 
promotional rate period, he will lose the benefits of the promotional rate and will be charged at the corresponding regular rate for his account 
for the existing balance as of the date of cancelling his Card. 

ANNUAL FEE:  Please refer to the “Annual Fee” section in the table included.  

MONTHLY  ACCOUNT  STATEMENT:  Every  month  the  Bank  will  send  the  Holder  an  Account  Statement  at  the  end  of  each  billing  period 
which shall indicate, as applicable, the following items:  Previous Balance, Payments and Credits, Debits, Purchases of Goods and Services 
Cash  Advances and Balance Transfers during the period in question, the Interest Charges, the Percentage Rate, expressed monthly and 
annually, the closing date of the billing period, the Average Daily Balance, the New Balance Total, the minimum payment, the due date of said 
payment, Notice about Late Payment, Notice about Minimum Payment, reference on Credit counseling and Sections of Charges and Interest 
Collected during the year, among other items. The Holder shall notify in writing to the Bank any error in the monthly Account Statement within 
sixty (60) days following the date on which the statement is sent. 

OTHER FEES: Returned Checks Fee – A charge of  $10  will be  added to the existing purchases balance for each payment made to your 
Credit Card by a check returned for the following reasons: not available or non collected funds, insufficient funds or any other reason why the 
check cannot be processed. Late Payment Fee – an amount equal to the minimum payment up to a maximum  of $38 will be added to the 
existing purchases balance for each billing period when the minimum payment is not made at the due date. Cash Advance Fee – No charges 
will be added. 

JOINT ACCOUNTS: Joint account holders are jointly and severally responsible for all purchases cash advances and balance transfers made 
under the credit plan. The Bank may require the appearance and signature of both to process certain instructions or requests that include, but 
are not limited to (1) request for increase or decrease  in the credit line, (2) issuance of additional Cards, and (3) change in the  address to 
which the account statement of the credit plan is sent. Both agree to release and indemnify the Bank from all liability for damages, losses or 
expenses arising as a result of any action taken by the Bank in compliance with the instructions given by any of the Holders. 

NON-COMPLIANCE: In the event of insolvency, bankruptcy, or death of the Holder, or if  he ceases to satisfy any obligation with the Bank 
under  this  Agreement,  the  total  debt  of  the  Holder  to  the  Bank  shall  be,  at  the  sole  discretion  of  the  Bank,  due  immediately  and  shall  be 
payable according to the pertinent provisions of the current laws and regulations. If such non-compliance arises by reason of failure to comply 
with the payments required under the provisions of this Agreement, any debt will be due under any of the following conditions: 
• If the debtor defaults on the payment for three consecutive terms. 
•  If  the  debtor  defaults  on  the  payment  of  one  or  more  installments  and  on  two  or  more  occasions  had  defaulted  in  paying  two  or  more 
consecutive terms. 
•  If  the  debtor  makes  a  partial  payment  of  an  overdue  installment  and  makes  three  consecutive  payments  later  but  still  does  not  pay  the 
remaining balance of the partial payment due. 

MINIMUM  PAYMENT:  The  holder  may  pay  the  New  Balance  total  in  its  entirety  or  in  monthly  installments.  If  payment  is made  in monthly 
installments, the Minimum Payment will be: 

If the balance due is: 

Minimum Payment will be: 

 $ 0.01 to $ 9.99  

New balance or accrued interest at the close of the billing 
cycle, whichever is greater 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 10.00 to $600.00 

$600.01 onwards 

$10.00  or  accrued  interest  at  the  close  of  the  billing  cycle, 
whichever is greater 
1/60  or  accrued  interest  at  the  close  of  the  billing  cycle, 
whichever is greater 

In addition, the minimum monthly payment shall include the total amount in excess of your authorized credit limit.  The holder may pay at any 
time the New Balance Total or any part of this that is greater than the required minimum monthly payment.  

PAYMENT APPLICATION: If the Holder pays the minimum payment required in the monthly account statement, the payment will be applied 
as follows: first to Interest Charges, and the remainder will be applied proportionately to amount owed by concept of goods and services cash 
advances  and  balance  transfers,  in  accordance  with  the  New  Balance  that  each  one  of  these  headings  will  yield  on  the  billing  date  of  the 
monthly account statement. If the Holder pays an amount in excess of the required minimum payment, it may stipulate in writing at the time of 
making the payment that the excess be applied to cash advances, balance transfers and goods and services, or be distributed proportionally. 
In the absence of such a declaration, the excess shall be applied to the debt with the highest rate of Interest Charges. 

PAYMENTS APPLICATION ON THE SAME DAY: The Bank will credit the payment made by the Holder the same day it is made: (a) in cash 
or in check through one of the Bank branch offices, prior to the closing time from Monday through Friday; (b) electronically before 5:00 p.m. 
Monday  through  Friday;  (c)  by  mail  together  with  the  payment  coupon  to  the  address  listed  on  the  account statement  of the  Holder.  If  the 
payment  is  received  by  the  Bank  on  weekend  or  holiday,  the  payment  will  be  credited  to  the  account  the  next  business  day.  In  case  of 
payments received by check the Bank shall defer the availability of funds equivalent to the amount of the payment, for a period of up to five (5) 
business days. This will not entail additional charges to your account for Interest Charges. 

CURRENCY CONVERSION CHARGES: Please refer to the “Transaction Fees” section in the table included.  

DENIAL OF CREDIT: The Bank is not liable if a purchase or cash advance is not authorized by the Bank or a third party even in the event of 
the  Holder  having  available  credit.  The  Bank  may  limit  the  number  of  purchases  or  cash  advances  approved  during  one  day.  If  the  Bank 
detects some unusual or suspicious activity on the account, the Bank can temporarily suspend the credit until the legitimacy of the transaction 
is verified. The Bank could temporarily suspend the credit, if the Holder has any existing debt with the Bank that is in arrears. The Bank could 
approve purchases or cash advances exceeding the credit limit without renouncing its rights under this Agreement. The Holder acknowledges 
and  agrees  that  the  Bank  shall  have  no  liability  or  obligation  for  communications,  acts  or  omissions  of  the  establishments  including  their 
refusal to accept the Card, as well as for defects, quality, weight, quantity or any other aspect relating to the delivery or provision of the goods 
and/or services that are purchased or obtained through the use of the Card. 

LOST OR STOLEN CARD: If the Card is misplaced or stolen or the Holder suspects that someone could use it without  his permission, the 
Holder  shall  immediately  notify  the  Bank  by  calling  (787)  281-2000  or  1-800-726-8263,  24  hours,  and  complete  and submit  those  forms  or 
reports required by the Bank. The Holder is not liable for fraudulent transactions that occur in the event of loss, theft or unauthorized use.  

AMENDMENTS: As required by law, this Agreement includes the disclosures in terms and conditions of your Credit Card. The Bank cannot 
guarantee  that  the  terms  and  conditions  of  your  Credit  Card  are  unchanged.  They  can  change  in  accordance  to  the  applicable  laws  and 
regulations; also, changes based on your credit history, market conditions, and business strategies and for any other reason, may occur. If any 
changes occur, they will be notified in accordance with the applicable laws and regulations. If these changes are not addressed in any law or 
regulation, they will be notified 10 days prior to the changes. The Interest Charges, periodical rates and other terms and conditions contained 
in  this  Agreement  may  be  amended  by  the  Bank  after  having  elapsed  12  months  from  opening  the  account.  Any  amendment  regarding 
Interest Charges shall apply to new purchases of goods and services and cash advances that originate as of the effective date of the change, 
as permitted by laws and regulations. If the Holder does not agree with the notified amendments and wishes to terminate the Agreement, he 
must notify the Bank in writing of his decision and return the Card cut in half before the effective date of the notified changes and will continue 
to  pay  the  balances  owed  under  the  account,  in  accordance  with  the  terms  and conditions  previously  in  effect. Any  change  in  the  Interest 
Charges that occur on or before the date that the requested credit was approved shall be notified through a notification accompanied with the 
Card to the Holder, who, through the use of the Card confirms his acceptance of the change. 

CANCELLATION: The Card is property of the Bank and the bank may cancel it at any time without prior notice to the Holder, who is obliged to 
return any Card issued, at the request of the Bank. If you do not agree to the terms of this Agreement, you may cancel it at any time by giving 
written notice to the Bank to these effects, and the return of the Card cut in half.  You will remain responsible for the payment of any balance 
owed at the time of cancellation.  If at the time of cancellation you have an outstanding balance with a special offer, the regular terms in effect 
at the time will apply to your outstanding balance. 

You  may  use  your  card  only  for  personal,  family  or  household  purposes.  You  may  not  use  your  card  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.  

MISCELLANEOUS PROVISIONS: The Bank is authorized by the Holder to investigate the Holder’s credit references and reserves the right to 
issue or not issue, renew or not renew the Card depending on the Holder’s ability to pay and credit references. Failure by the Bank to exercise 
any right under this Agreement shall not constitute a waiver of such right. If any provision of this Agreement is declared invalid by a Court or 
ceases to have effect by legislative or regulatory provision, the remaining provisions of this  Agreement will continue in force. The Holder will 
establish a secret number to be able to access cash advances against his account through Automatic Teller Machines. The Holder undertakes 
and  agrees  to maintain  the confidentiality  of  such  secret  number  to  avoid  the  use  of  the  Card  by  unauthorized  persons,  and  agrees  not  to 
disclose or  have the secret number  written next to the Card. The limit of cash advances  will be established by the Bank from time to time. 
When the Card is used outside Puerto Rico or  in another associated bank, the limit established will be governed by the associated bank to 
which the Card is presented. The Holder may instruct the Bank to debit his Bank deposit accounts for any amount to cover payments due or 
the total balance of the debt. The Bank, at its sole discretion, may not authorize cash advances and/or purchases of goods and services when 
the account is in arrears for thirty days or more and/or when the outstanding balance is above the limit of the credit granted. 

The Holder is not obliged to accept the Card nor will be responsible for any charges unless he chooses to accept it by using it. If the Holder 
does not accept the Card, he shall notify the Bank within fifteen (15) days after receiving this Agreement without having used the Card. The 
use of the Card by the Holder or any person authorized by the latter constitutes acceptance by the Holder of each and every one of the terms, 
clauses and conditions disclosed under this Agreement. This Agreement shall be governed by and construed under the laws and regulations 
of  the  Commonwealth  of  Puerto  Rico  and  the  applicable  federal  laws  and  regulations.  In  case  the  Holder  is  offered  any  insurance  for  life 
protection, disability or involuntary unemployment or some other coverage by the Bank or any third party (whether or not a Bank affiliate) such 
insurance is optional and is not a condition for extending credit.  

BILLING  RIGHTS:  This  notice  contains  important  information  about  your  rights  and  our  responsibilities  under  the  Fair  Credit  Billing  Act. 
Notification to the Bank in case of errors or doubts on the account statement: the Holder shall notify in writing to the Bank if he believes that 
the  account  statement  is  incorrect  or  needs  more  information  about  a  transaction  in  the  statement.  The  Holder  must  write,  on  a  separate 
sheet, at the address indicated in the account statement, as soon as possible. This notification must be no later than sixty (60) days since the 
Bank sent the first statement on which the error or problem appeared. The Holder may call the Bank by telephone, but this way your rights do 
not  prevail.  The  Holder  must  send  a  letter  with  the  following  information:  name  and  last  name,  account  number,  amount  of  money  of  the 
alleged  error,  description  of  the  error.  If  you  need  more  information,  you  must  include  a  description  of  the  item  on  which  you  have  any 
questions. If the Holder has authorized the Bank to pay the account statement automatically from his savings or checking account, the Holder 
can stop the payment of any amount he understands that it is incorrect. 

RIGHTS AND RESPONSIBILITIES OF THE BANK AFTER HAVING RECEIVED THE WRITTEN NOTIFICATION FROM THE HOLDER: the 
Bank must acknowledge receipt of the letter within thirty (30) days, unless the error has been corrected within this period. After receiving his 
letter, within a period equivalent to two billing cycles, but no more than ninety (90) days, the Bank must correct the error or explain to you why 
we understand that the invoice is correct. After receiving the written notification, the Bank should not try to collect any amount that the Holder 
has  questioned,  nor  report  him  as  delinquent.  The  Bank may continue  to  bill  the  amount that  the  Holder  has  questioned,  including  Interest 
Charges  and  may  apply  any  amount  due  to  his  credit  line.  The  Holder  does  not  have  to  pay  any  amount  in  dispute  while  the  Bank  is 
investigating, but the Holder will be obligated to pay the parts of his invoice that are not in dispute. If the Bank determines that there was an 

 
 
 
 
 
 
 
 
 
 
 
 
 
error in the invoice, the Holder will not have to pay Interest Charges related to the portion of the invoice that is in dispute. If it is determined 
that there was no error on the invoice, the Holder shall pay  Interest Charges and update any payment in the amount of the dispute. In any 
case, the Bank will send you an account statement for the unpaid amount and the due date. If the Holder does not pay the amount that the 
Bank believes it owes, the Bank can report the case as delinquent. However, if the Holder is not satisfied with the Bank’s explanation, and he 
writes within the next ten (10) days informing that he still refuses to pay the Bank, the Bank shall inform any organization to whom he has been 
reported  as  delinquent  that  the  Holder  has  a  dispute  regarding  the  invoice.  Also,  the  Bank  must  inform  the  Holder  on  the  identity  of  any 
organization he has been reported to, that there has been a resolution once the matter has been resolved. If these rules are  not followed, the 
Bank may not charge the first $50 of the amount in dispute, even if it is determined that the invoice was correct. 

SPECIAL RULES ON PURCHASES WITH CREDIT CARDS: if there are problems with the quality of the goods or services purchased with 
Credit Cards and you have tried in good faith to correct the problem with the vendor, you may have the right to not pay the remaining debt 
balance related to those products or services. There are two limitations on this right: a) the purchase must have been made in your state of 
residence ("home state"), or if you are not in your state of residence, within 100 miles of your mailing address, and (b) the purchase price must 
be greater than $50. These limitations do not apply to the vendor where you purchased the goods or services if this is owned or controlled by 
the Bank or if the Bank sent you a promotional notice or advertising of their goods or services. 

Banco Santander Puerto Rico-Credit Cards Division-PO BOX 362589 SAN JUAN, PR 00936-2589 
(REV 03/18) 

Interest Rates and Interest Charges 

Annual percentage rate 
(APR) on Purchases 

Annual percentage rate 
(APR) on Balance Transfer 
Annual percentage rate 
(APR) in cash advances 

Penalty APR and When it 
Applies 

Paying Interest 

10.95 % to 25.95 %, at the time of opening the account, based on 
your credit history. 
10.95% to 25.95%, at the time of opening the account, based on your credit 
history. 
22.95% to 25.95%, at the time of opening the account, based on your credit 
history. 
28.99% APR 
It applies to account balances, including new purchases, cash advances and 
transferred balances if the following condition occurs: 
a. The minimum payment is not received for 2 consecutive billing periods. 
How long will the penalty APR apply? 
If your annual percentage rate increases for this reason the non-compliance 
rate will apply until you have made at least six (6) consecutive minimum 
payments on or before its due date. 

Your due date is at least 27 to 32 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 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. Amounts related to certain offers will not be taken into 
consideration in determining the Grace Period, please refer to the offer 
terms and conditions. Interest on cash advances, balance transfers to other 
institutions and convenience checks will be imposed from the date that the 
transaction occurred and will continue to accrue until paid in full.  

For Credit Card tips from 
Consumer Financial  
Protection Bureau 

For information on factors to consider when ordering or using credit 
cards, visit the Consumer Financial Protection Bureau on its Website 
at: http://www.consumerfinance.gov/learnmore.    

Fees 

Annual Fee 

Additional Card Annual Fee 
Transactions Fees 

$0 

$0  

Cash Advance and Balance Transfers 

$0 

Currency conversion 
Penalty Charges 

Late Payment 
Returned Payment 

0% 

Up to a maximum of $38 
$10  

How We Will Calculate Your Balance: We use the daily balance method (including new transactions). 

Loss of Introductory APR: We may end your introductory APR and apply the Purchases Standard APR if you 
close your account or if    
you miss a payment 

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in 
your account agreement. 

Banco Santander Puerto Rico, Member FDIC. Lic. OCIF IB-17.