Merrick Bank Visa® or MasterCard® Cardholder Agreement
THIS AGREEMENT CONTAINS AN ARBITRATION CLAUSE AND A CLASS ACTION WAIVER. PLEASE SEE THE  
“AGREEMENT TO ARBITRATE DISPUTES AND CLASS ACTION WAIVER” SECTION BELOW FOR ADDITIONAL DETAILS.

 G-15864
05/16

1. Welcome to Merrick Bank and to Your 
Card Agreement. This document and the 
Pricing Appendix that came with your Card 
are your Agreement with us. Please keep this 
Agreement (including the Pricing Appendix 
as well as any future change-in-terms notices 
you may receive) in a safe place with your 
other important papers. The words used in 
this Agreement are defined and explained 
in the “Glossary and Definitions” section 
below. You may make Purchases anywhere 
the Card is honored, so long as you do not 
exceed your available credit limit and are 
otherwise in compliance with this Agreement. 
The Bank is not responsible for the failure of 
any merchant or any other party to accept 
or honor your Card. Unless applicable law 
otherwise requires, if you make a Purchase 
on your Account and the merchant discloses 
a policy such as “no returns,” “no refund,” 
“no return or credit without receipt,” “as 
is,” “store credit only,” “all sales final” or 
similar statements, you will be bound by 
the merchant’s policy. You must acquaint 
yourself with the merchant’s return policies 
before you make your Purchase. For repeat, 
recurring or automatic Purchases, we may 
rely, to the maximum degree permitted by 
law, upon any reasonable proof presented 
to us by the merchant that you authorized 
such purchases and authorized being billed 
repeatedly for them. If you have authorized 
repeat, recurring or automatic Purchases 
and we replace your Card due to its being 
lost, stolen or at risk for fraud, we may, at 
our sole discretion, notify the recipients of 
your recurring or automatic Purchases, but 
you agree to notify the recipients of your 
recurring or automatic Purchases of the 
change in your account number.

You may obtain Cash Advances from many 
locations where the MasterCard® or Visa® 
logo is displayed (depending on whether 
your Card is a MasterCard® or a Visa® card) 
or from an ATM that displays such a logo, 
so long as you do not exceed your available 
total credit limit or any daily Purchase limits, 
or exceed your available Cash Advance 
credit limit or any daily Cash Advance limits, 
and are otherwise in compliance with this 
Agreement. A Cash Advance Transaction Fee 
will be charged to your Account each time 
you obtain a Cash Advance.

You must sign the back of the Card before 
you use it for the first time. BY SIGNING THE 
CARD OR USING IT TO MAKE A PURCHASE 
OR TO OBTAIN A CASH ADVANCE, YOU 
AGREE TO ALL OF THE TERMS AND 
CONDITIONS OF THIS AGREEMENT, 
INCLUDING THE PROVISION BELOW 
RELATING TO FUTURE CHANGES TO THIS 
AGREEMENT OR THE PRICING APPENDIX.

We may change the terms of this Agreement 
or the Pricing Appendix at any time. We 
may change or remove any of the terms and 
conditions of, or add new terms or conditions 
to, this Agreement or the Pricing Appendix, 
including without limitation by increasing 
existing fees, margins and rates, and adding 
new fees and charges, whether or not the 
Account has been cancelled, suspended or 
closed to new Account transactions, and, 
to the extent allowed by applicable law, any 
changes will apply to your entire Account 
Balance even though Purchases, Cash 
Advances or other transactions occurring 
prior to the date of the change may be part of 
the Account Balance. 

At any time, you may request that we mail you 
a copy of this Agreement in its then-current 
form, or you may review it on the Internet at 
www.merrickbank.com/agreements. If you  
are visually impaired, please call us at  
(800) 204-5936 for assistance.

2. Your Promise to Pay. You promise to pay, 
according to the terms of this Agreement, 
all amounts owing under your Account 
and this Agreement including, without 
limitation, the total amount of all Purchases, 
Cash Advances, interest charges and all 
other charges and fees described in this 
Agreement. If you have requested a Card for 
use by someone else, you will be responsible 
for that person’s transactions, including 
transactions for which you may not have 
intended to be liable. We reserve the right to 
hold such person responsible for his or her 
Purchases, Cash Advances and associated 
interest charges and fees, but our doing so 
does not relieve you of your duty to pay. 
Although we will send you Billing Statements, 
if you do not receive a Billing Statement you 
still must pay your Minimum Payment by the 
Payment Due Date. If you do not receive a 
Billing Statement, you must call us at (800) 
204-5936 to find out your Payment Due 
Date and Minimum Payment, and to advise 
us of your correct mailing address. We will 
only mail Billing Statements to one mailing 
address. With your authorization, we may 
also provide your Billing Statements via email 
or other electronic means. You must notify 
us immediately of any change to your mailing 
or email address. We will only send Billing 
Statements to you, and not to any third-party 
(except if applicable law requires otherwise). 
No matter where Billing Statements are sent or 
when they are received, your obligation to make 
timely Minimum Payments and to pay all other 
amounts owed on the Account is not excused.

We may accept late or partial payments 
without losing any of our rights under this 
Agreement. You agree not to send us partial 
payments marked “paid in full,” “without 
recourse,” or similar language. If you send 
such a payment, we may accept it without 
losing any of our rights under this Agreement.

If you do not pay what you owe when it 
is due, or if you otherwise violate this 
Agreement (including in connection with 
the Deposit Account or the Bank’s security 
interest therein), then in addition to all 
charges, interest, fees and other amounts 
described in this Agreement you also must 
pay us, or our assignee, all collection costs, 
legal expenses or other expenses resulting 
from any and all efforts to collect what is 
owed on the Account or as a result of use 
of the Card, or otherwise to respond to your 
violation of this Agreement. This includes all 
attorneys’ fees and arbitration or court costs. 
You agree to pay reasonable attorneys’ fees 
even if the attorney is a salaried employee of 
the Bank or its assignee.

3. How to Make Payments and How We 
Apply Them. You must pay us in U.S. 
Dollars, with a check, draft or money order 
drawn on a United States bank or the 
United States Postal Service, or through an 
automated clearing house acceptable to us in 
our sole discretion. 

Payments received with the payment coupon 
and received from the postal or other 
delivery service by 5:00 p.m. local time at 
the payment address indicated on the most 
recent Billing Statement will be posted to 
your Account as of that date. If you send 
payments to any other address or fail to 
include the payment coupon, or if there 
are errors or delays at the postal service or 
other transmission or delivery services, the 
payment may be lost or there may be a delay 
in posting the payment. Either event could 
result in a Late Payment Fee and/or additional 
interest charges. Neither the postal service 
nor any other money transmitter or delivery 
service is Merrick’s agent, and if you use 
the postal service or any other third party to 
deliver your payment, you assume the risk 
that those services lose it or deliver it late. 
Please call us at (800) 204-5936 or go to 
www.merrickbank.com/payments if you do 
not know where to send your payment.

Payments in excess of the Minimum Payment 
shown on the most recent Billing Statement 
will be applied first to the highest APR balance. 
In general, amounts up to the Minimum 
Payment will be applied in the manner most 
favorable to us, which usually will be to 
lower APR balances (including any zero APR 
balances) before higher APR balances.

Merrick Bank processes electronic check 
conversions. This means that if you send 
us a check we may take information from 
it (including without limitation the amount, 
your bank routing number, checking account 
number and check number) to initiate an 
electronic funds transfer (EFT). An EFT likely 
will clear more quickly than a check, and your 
checking account even may be debited the 
same day we receive your check. Please be 
sure you maintain sufficient funds in your 
checking account when you send us a check; 
if there are not sufficient funds and your bank 

returns the item to us unpaid, you must pay 
a Returned Payment Fee. With electronic 
check conversion, you will not receive your 
cancelled check back, but your checking 
account statement should provide sufficient 
information about the EFT. If we are unable 
to process the EFT for any reason, we may 
submit either your original check or a copy of 
your original check to your bank for payment 
and processing.

4. You Must Make Your Minimum Payments 
On Time. You may pay the New Balance 
in full every month, or you can pay it in 
monthly installments. If you decide to pay it 
in installments, then each Billing Cycle you 
must pay at least the Minimum Payment 
shown on the Billing Statement by the 
Payment Due Date. The Minimum Payment 
will be calculated as described in the Pricing 
Appendix. Even if you pay more than the 
Minimum Payment in one Billing Cycle, you 
still must pay the full Minimum Payment in 
future Billing Cycles until the entire Account 
Balance is paid. Credits applied for reversals 
of Purchases (for example, merchant credits 
for returned or defective goods) or for 
reversals of fees or interest charges do not 
count toward your Minimum Payment. For 
example, if the Minimum Payment is $50, 
you still must pay us the full $50 by the 
Payment Due Date even if you return $50 
worth of goods to a merchant where you 
use the Card. If the Minimum Payment is not 
received on time, you agree to pay a Late 
Payment Fee.

If banking regulation requires that we classify 
your Account uncollectible and charge 
it off due to non-payment you will be in 
default and the Bank reserves the right to 
(1) refuse to honor any further Purchases 
or Cash Advances, (2) reduce your credit 
limit, (3) require payment of a portion of 
your outstanding balance greater than the 
Minimum Payment, (4) declare the entire 
balance of your Account immediately due 
and payable, and/or (5) exercise such other 
and further of its rights under this Agreement 
or applicable law as the Bank in its sole 
discretion deems appropriate.

5. How Interest Is Calculated. We use the  
Average Daily Balance method (including  
new transactions) to calculate interest on  
your Account. The Average Daily Balances  
for Purchases and Cash Advances are 
calculated separately. 

To calculate the Average Daily Balances, we 
start with the beginning balance for each 
day in the Billing Cycle. For Purchases, the 
beginning balance includes billed but unpaid 
interest on Purchases, Annual Fees (including 
Additional Card Fees), Late Payment Fees, 
Returned Payment Fees, Over Limit Fees, 
Copying Charges, Currency Conversion 
Charges related to Purchases, Phone 
Payment Fees, Replacement Card Fees, 
the Account Set-Up Fee and Fees for Other 
Services. For Cash Advances, the beginning 
balance includes billed but unpaid interest on 
Cash Advances, Cash Advance Transaction Fees 
and Currency Conversion Charges related to 
Cash Advances. We then add any new charges 
and subtract any payments or credits. This 
gives us the daily balance for each day, except 
that if the daily balance is negative, we treat it 
as zero. We then add up all of the daily balances 
for each balance and divide by the number 
of days in the Billing Cycle. This gives us the 
Average Daily Balance for each balance. The 
interest charged for each balance equals the 
Average Daily Balance for that balance times 
the applicable DPR times the number of days 
in the Billing Cycle. The results are then added 
together to determine the total interest charge 
for the Billing Cycle. To the extent interest 
comprises any part of your Average Daily 
Balance, compounding of interest will occur.

Charges are added as of the date of the 
transaction. If a transaction occurs in one 
Billing Cycle but is not posted to your Account 
until the next Billing Cycle, the transaction is 
added or subtracted on the first day of the 
Billing Cycle in which the transaction is posted 
to your Account. If the DPR for Purchases or 
Cash Advances changes during a Billing Cycle, 
the new DPR will take effect as of the first day 
of the Billing Cycle.

6. About Periodic Rates (APRs and DPRs). 
If your Account has an Introductory APR for 
Purchases or Cash Advances, the Introductory 
APR and the corresponding Introductory 
DPR will be shown in the “Interest Rates 
and Interest Charges” section of the Pricing 
Appendix. Introductory APRs are fixed rates 
and are not based on movements in the Prime 
Rate. Introductory APRs will be in effect until 
the Introductory Period End Date shown in the 
“Interest Rates and Interest Charges” section 
of the Pricing Appendix. 

If your Account does not have an 
Introductory APR for Purchases or Cash 
Advances, or after the Introductory Period 
End Date, your APRs and DPRs will vary. The 
APR for Purchases and the APR for Cash 
Advances will be determined by adding the 
Purchase Margin and Cash Advance Margin 
shown in the “Variable Rate Information” 
section of the Pricing Appendix to the 
Prime Rate. The DPR is 1/365th of the 
corresponding APR. However, the APRs for 
Purchases and Cash Advances will never 
be greater than the lesser of the Purchase 
or Cash Advance APR Cap shown in the 
“Variable Rate Information” section of the 
Pricing Appendix or the maximum rate 
permitted by applicable law. The “Interest 
Rates and Interest Charges” section of the 
Pricing Appendix includes the APRs and 
“Daily Periodic Rates” section of the Pricing 
Appendix includes DPRs for Purchases and 
Cash Advances as of the date indicated in 
the Pricing Appendix. Any changes in your 
APRs and DPRs resulting from a change in 
the Prime Rate during a Billing Cycle will 
take effect as of the first day of the Billing 
Cycle. An increase in the Prime Rate may 
result in an increase in the amount of interest 
charged, the Minimum Payment or both.

7. How to Avoid Paying Interest on New 
Purchases. You will not be charged interest 
on new Purchases during a Billing Cycle 
if you paid the entire New Balance, if any, 
shown on the Billing Statement on or before 
the Payment Due Date.

8. About Other Interest Charges and Fees. 
You agree to pay the following additional 
interest charges and fees (if applicable to 
your Account) in the amounts set forth in the 
“Fees” section of the Pricing Appendix.

a. Account Set-Up Fee. If applicable, an 
Account Set-Up Fee will be charged to your 
Account when the Account is opened.

b. Annual Fee. If the Pricing Appendix includes 
an Annual Fee, your Account will be charged 
an Annual Fee as described in the “About 
Annual Fees” section of this Agreement.

c. Cash Advance Transaction Fee. A Cash 
Advance Transaction Fee will be charged  
to your Account each time you obtain a  
Cash Advance.

d. Copying Charge. Your Account will be 
charged $2 for each page of any copy of 
a Billing Statement, sales slip or payment 
copy that the Bank produces at your request, 
except if the copies are produced to resolve 
a reported billing error under the Fair Credit 
Billing Act.

e. Currency Conversion Charge. For each 
Purchase or Cash Advance made in a foreign 
currency, we add an additional interest 
charge of 2% of the amount of the Purchase 
or Cash Advance after its conversion into 
U.S. Dollars, as described in the “About 
Foreign Currency Transactions” section of 
this Agreement.

f. Late Payment Fee. Your Account will be 
charged a Late Payment Fee if you have 
not paid the Minimum Payment on a Billing 
Statement by the Payment Due Date.

g. Minimum Interest Charge. In any Billing 
Cycle in which your Account has a balance, 
you were not charged a Cash Advance 
Transaction Fee and the total interest charged 
for the Billing Cycle would otherwise be less 
than $1, a Minimum Interest Charge will be 
charged to your Account.

h. Phone Payment Fee. If you wish expedited 
service for transmittal of a payment, you may 
request to make a phone payment using a 

customer service representative for which you 
will be charged a fee. The amount of the fee will 
be disclosed prior to fulfilling your request.

i. Replacement Card Fee. Your Account  
may be charged a fee for each replacement 
Card or PIN you request, no matter what  
the reason, or if your Card or PIN is lost  
or stolen.

j. Returned Payment Fee. A Returned 
Payment Fee will be charged to your Account 
if for any reason a check, draft or similar 
instrument is not honored or cannot be 
processed, or if an EFT or electronic debit 
is returned unpaid or cannot be processed, 
even if the item is later honored or paid 
following resubmission. You authorize us 
to resubmit returned payments (including 
without limitation through electronic 
collection methods) at our discretion. 

k. Fees for Other Services. We may charge 
other fees to your Account for services 
associated with your Account that you 
request. You may decline the services before 
the fees are charged.

l. Over Limit Fee. If the law permits, we will 
charge an Over Limit Fee as set forth in 
the Pricing Appendix. We are not obligated 
to approve any over the limit transaction. 
If any amount set forth in the Pricing 
Appendix exceeds the maximum permitted 
by applicable law, we will follow the law as to 
such fee or charge.

9. About Annual Fees. If your Card is subject 
to an Annual Fee, but you have not yet used 
your Card to make a Purchase or to obtain a 
Cash Advance, you may cancel your Account 
within 90 days of receiving the Card by 
calling (800) 204-5936 or by writing to us at 
Merrick Bank, P.O. Box 9201, Old Bethpage, 
NY 11804-9001. If we receive your request 
to cancel within 90 days of your receipt of 
the Card, you will not be responsible for the 
Annual Fee if you have not previously used 
the Card or the Account. Otherwise, you must 
pay the Annual Fee.

If you obtain an additional Card, the amount 
of the Annual Fee will be increased by the 
Additional Card Fee described in the Pricing 
Appendix. Both the Annual Fee and the 
Additional Card Fee must be paid for each year 
(or part thereof) when the Account is open, 
whether or not the Card is used during the 
year and whether or not there is a balance on 
the Card. Payment of the Annual Fee does not 
assure you of good standing on the Account, 
does not affect our right to change the terms 
of this Agreement and does not affect our 
right to decline authorization of any Purchase 
or Cash Advance. If the Account is closed but 
with an unpaid balance, the Annual Fee and 
Additional Card Fee must be paid for each 
year (or part thereof) when there is a balance 
greater than zero on the Account.

After the first year you have the Card, we  
may in our discretion choose to bill the 
Annual Fee and the Additional Card Fee in  
12 monthly installments. 

10. About the Credit Limits on the Account. 
The Bank has established a total credit 
limit and a Cash Advance credit limit on the 
Account, and any transaction that might 
exceed one of these credit limits may be 
declined at our sole discretion. We may 
also opt, in our sole discretion, to approve 
or decline any portion of a requested 
transaction. These credit limits may be 
reduced at any time without warning or 
notice to you, at any time, during any Billing 
Cycle. We similarly may suspend charging 
privileges at any time and for any reason (or 
no reason) without warning or notice to you. 
This may, for example, occur if you fail to 
comply with any provision of the Agreement, 
if we in our sole discretion believe our 
likelihood of being repaid is diminished 
or impaired, or if overall credit market 
conditions make it infeasible or more costly 
to extend credit to you. 

In determining your continuing 
creditworthiness, the Bank, in its discretion, 
may consider, among other things, the total 
amount of debt you are carrying compared 
to your resources or any other of your 
credit characteristics, regardless of your 
performance on the Account. 

Subject to our review and approval, you 
may, if your Account is secured or partially 
secured, increase your credit limit by making 
additional deposits into the Deposit Account. 
Any such additional deposits must be at 
least $50, and without our express written 
approval the balance in the Deposit Account 
may not exceed an amount that together with 
any unsecured credit available to you through 
your account would cause your total credit 
limit to exceed the amount of $10,000.

Certain transactions or combinations of 
transactions may cause your Account 
Balance or your Cash Advance balance to 
reach or exceed credit limits, and as a result 
authorization for certain Purchases or Cash 
Advances may be declined. For example, even 
if we have posted a payment or credit to the 
Account, we still may in our sole discretion 
decline to permit use of a portion of the credit 
limit equal to the amount of the payment or 
credit for up to eleven days from the date 
posted. Additionally, certain merchants (such 
as hotels or rental car agencies) as a matter 
of policy will process charges in a manner 
resulting in a temporary restriction of the 
use of a portion of the credit limit that is 
substantially greater than the actual amount 
of the charge; please inquire of the merchant 
before using the Card to determine whether 
the merchant follows such a policy.

11. About Foreign Currency Transactions. 
Purchases and Cash Advances made in 
currencies other than U.S. Dollars will 
be converted to U.S. Dollars under the 
operating regulations or foreign currency 
conversion procedures established by Visa® 
or MasterCard® then in effect. Conversion 
to U.S. Dollars may occur several days or 
weeks after the transaction; therefore, the 
currency conversion rate may be significantly 
different from the rate in effect at the time 
of the transaction. We do not determine 
the currency conversion rate that is used, 
and it may be significantly less favorable to 
you than a rate you could obtain in a cash 
transaction. You agree to pay the converted 
amount. For each Purchase or Cash Advance 
made in a foreign currency, we add an 
additional interest charge of 2% of the 
amount of the Purchase or Cash Advance 
after its conversion into U.S. Dollars.

12. What Purchases and Cash Advances  
Are Not Allowed. We may, in our sole 
discretion, deny authorization for any 
requested Purchase or Cash Advance. You 
may not use the Account or the Card for 
business or commercial purposes; the 
Account and the Card may be used for 
consumer purposes only.

You may not use the Account or the Card to 
make payments on the Account or anyone 
else’s account with us.

You may not use the Account or the Card for 
anything we deem unlawful gambling activity.

You may not use the Account or the Card 
to purchase illegal items, to commit fraud, 
to harm anyone or to engage in any other 
activity prohibited by law.

You may not use the Account or the Card to 
make Purchases that exceed your available 
credit limit.

You may not use the Account or the Card 
to obtain Cash Advances that exceed your 
available credit limit or available Cash 
Advance limit.

You may not use the Card, make any 
Purchases or request any Cash Advances 
when you or any other person obligated on 
the Account is insolvent or after a bankruptcy 
petition has been filed. If you use or if you let 
someone else use the Account or the Card for 
a prohibited, improper or unlawful purpose, 
or at a time when use of the Account or 
the Card is not permitted, you still will be 
responsible for all charges relating to such 
use, to the maximum degree permissible 
by law. You also will be responsible for 
all additional amounts or expenses the 
Bank, Visa® or MasterCard® might pay as 
a result of such use, such as if the Bank, 

Visa® or MasterCard® is sued in regard 
to your use of the Account or the Card. It 
is your responsibility to determine if your 
transactions or those that you let someone 
else make are lawful; neither the Bank nor 
Visa® nor MasterCard® is responsible for 
determining the legality of any transaction.

13. Closing the Account. We may close the 
Account at any time for any reason (or no 
reason) and without prior notice. You may 
close the Account at any time. Authorized 
users of the Account other than you may not 
close the Account. All amounts due on the 
Account pursuant to this Agreement must 
be paid even if the Account is closed (no 
matter by whom) or if charging privileges are 
reduced, restricted or suspended.

14. About Excess Payments and Credits. If 
payments and credits posted to the Account 
exceed what you owe, you will have a credit 
balance with us, which may be offset against 
future Purchases or Cash Advances that 
occur. If a credit balance persists, we will 
mail a check to you for the amount of the 
credit balance within the time frame required 
by applicable law. If we are unable to locate 
you, any credit balance in your account will 
be escheated pursuant to applicable law. 

15. About Credit Reporting. You authorize 
us to request consumer reports (also 
known as credit reports) including periodic 
updates about you, to make whatever credit 
investigations we deem appropriate, to 
obtain and exchange any information we may 
receive from consumer reports and other 
sources and to use such information for any 
purpose (including to reduce credit limits, 
to restrict or suspend charging privileges 
or to close the Account). You also authorize 
us to furnish information concerning your 
Account and your performance under this 
Agreement to consumer reporting agencies 
(credit bureaus) or to others, but you 
acknowledge that we are under no duty to 
do so. If you believe information we have 
furnished about your Account to a consumer 
reporting agency is inaccurate, you should 
notify the appropriate credit reporting agency 
to request that it investigate the possible 
inaccuracy. You may also write to us at 
Merrick Bank, P.O. Box 9201, Old Bethpage, 
NY 11804-9001, and identify the specific 
information you believe is inaccurate. If you 
are dissatisfied with our response to your 
claim that inaccurate information has been 
reported, you must write us again to request 
that we inform consumer reporting agencies 
that you dispute our manner of reporting; if 
you do not do so, we will assume that you 
agree with our response and that no dispute 
exists. IF YOU FAIL TO MAKE PAYMENTS ON 
TIME AS SET FORTH IN THIS AGREEMENT 
OR IF YOU OTHERWISE FAIL TO FULFILL 
THE TERMS OF THIS AGREEMENT, THEN 
NEGATIVE OR DEROGATORY INFORMATION 
MAY BE PLACED ON YOUR CREDIT FILE.

16. The Deposit Account and Security 
Agreement (If Applicable). If the Account 
was approved on condition of its being 
secured or partially secured, the following 
rules apply: (i) you agree to create a Deposit 
Account, which you shall maintain with us 
and cause to remain unencumbered, except 
for the security interest granted to the Bank 
pursuant to this Agreement (for example, 
you shall not allow the Deposit Account to 
become subject to any nonconsensual lien, 
judgment, attachment or execution); and 
(ii) we do not allow any withdrawal from the 
Deposit Account until the Account is closed 
and any outstanding balance is paid in full.

YOU HEREBY GRANT TO THE BANK A 
SECURITY INTEREST IN THE DEPOSIT 
ACCOUNT TO SECURE PERFORMANCE 
BY YOU OF ALL OF YOUR OBLIGATIONS 
WITH RESPECT TO THE ACCOUNT AND 
OTHERWISE UNDER THIS AGREEMENT, 
INCLUDING, WITHOUT LIMITATION, THE 
OBLIGATION TO MAKE PAYMENTS TO THE 
BANK AS DESCRIBED HEREIN.

If the Account is closed by you or us for any 
reason, you authorize us to apply all or any 
part of the funds in the Deposit Account to 
reduce all amounts owed on the Account and 
any other outstanding obligation owed to 
the Bank, including, without limitation, any 
part of your outstanding Account balance 
in connection with which any claim under a 
credit insurance policy or debt cancellation 
program is pending. The application of your 
deposit will be a credit adjustment to your 
Account balance, and is not a payment. If 
we elect not to, or otherwise fail to apply 
funds in the Deposit Account against 
amounts owed on the Account or any other 
outstanding obligation owed to the Bank, 
you agree that: (1) we do not thereby waive 
any right we have to do so at any later date, 
and may so apply such funds at any time, 
in our sole discretion; and (2) you are not 
thereby excused from the performance of 
any obligation owing with respect to the 
Account or otherwise under this Agreement. 
If, however, (A) the Account is closed by you 
or by us for any reason, and (B) we fail to 
apply the funds in the Deposit Account against 
amounts owed on the Account or otherwise 
to us, you may request, in writing, that we 
apply the funds in the Deposit Account against 
such amounts. We will honor any such written 
request within five business days after we 
receive it at Merrick Bank, P.O. Box 9201, Old 
Bethpage, NY 11804-9001. If the amount in 
the Deposit Account exceeds the amount you 
owe the Bank, then, unless you instruct us 
otherwise, we will handle the funds remaining 
in the Deposit Account in accordance with the 
terms of the following paragraph.

After the Account has been closed and 
there are no amounts owing in connection 
therewith or otherwise under this Agreement, 
we can hold the funds in the Deposit Account 
until the earlier of the following: (1) we 
elect, in our discretion, to close the Deposit 
Account and return any remaining funds to 
you; or (2) not more than 90 days after we 
receive from you a written request to return 
any funds remaining in the Deposit Account. 

17. Additional Deposit Account and Security 
Agreement Disclosures. If you have a 
Deposit Account, the following shall apply:

a. Interest Rate. Interest will not be paid on 
your Deposit Account.

b. Minimum Balance to Open and Maintain 
the Deposit Account. You must initially 
deposit, and at all times maintain, a deposit 
amount that is defined on the application 
unless we specifically agree otherwise with 
you. If you do not, we either will not open the 
Account or we may terminate the Account. 
We reserve the right to refuse to accept any 
deposit into the Deposit Account. 

c. Subsequent Deposits. Subsequent 
deposits into your Deposit Account must be 
at least $50. 

d. Transaction Limitations. You may not 
withdraw or transfer funds from the Deposit 
Account, except as otherwise set forth in this 
Agreement. Funds may not be used to make 
a payment. Funds from a closed Deposit 
Account will be returned in accordance with 
the section above titled “The Deposit Account 
and Security Agreement.” 

e. Fees. A Returned Payment Fee, as shown 
in the “Fees” section of the Pricing Appendix, 
will be charged for each check or other 
item submitted as a deposit to the Deposit 
Account that is returned or rejected for any 
reason, including insufficient funds. 

f. Statements. Information about the Deposit 
Account will appear on each Billing Statement 
that we send you. 

18. We Are Not Responsible for Third-
Party Features, Services or Benefits. If 
your Card includes a rewards program, you 
acknowledge and agree that third-parties may 
be responsible to fulfill any merchandise, 
rewards or other redemptions, and that any 
such rewards program will be governed by 
separate terms and conditions provided to 
you prior to participation in the program. 
From time to time your Card may include 
various additional features, services and 
enhancements, including common carrier 
travel insurance, credit card registration for 
lost or stolen credit cards, and emergency 
cash service. The Bank is not liable for these 
features, services, and enhancements, and 
such features, services, and enhancements 
are the sole responsibility of the third-

party provider. You agree to hold the Bank 
harmless from any claims, actions or 
damages resulting from your use of any of 
these features, services or enhancements, 
when permitted by applicable law. The Bank 
reserves the right to adjust, add or delete 
benefits and services at any time and without 
compensating you in any fashion.

19. You Must Read Your Billing Statement 
Carefully as Soon as You Receive It. You 
must read your Billing Statement as soon 
as you receive it. You must review all of it 
carefully, including information regarding 
your Deposit Account, if any. If there is an 
error on your Billing Statement and you 
do not advise the Bank of that error within 
60 days after the Bank mails the Billing 
Statement to you, you will be bound by  
what the Billing Statement shows. You 
should also read carefully the billing dispute 
information provided in the section below 
titled “Your Billing Rights Under the Fair 
Credit Billing Act.”

20. Protecting the Account From Fraud. 
Help to prevent fraud before it occurs. Call 
us immediately at (877) 727-6881 if you 
lose the Card, if it is stolen or if you suspect 
any fraudulent use. Reading your Billing 
Statement as soon as you receive it and 
reviewing transactions at www.merrickbank.
com/cardholdercenter are ways to help 
prevent fraud. You will not be responsible for 
any unauthorized Purchases with the Card 
occurring after we receive word of its loss or 
theft. Even if the Purchases occur before we 
receive word of its loss or theft, you will not 
be responsible for them so long as: (1) you 
promptly gave us notice of the loss or theft; 
(2) the transactions were processed by Visa® 
or MasterCard®; and (3) you were neither 
engaged in any fraud nor grossly negligent in 
handling the Account or the Card. In all other 
circumstances you will be responsible for 
all resulting Purchases and Cash Advances, 
and we reserve the right to collect from you 
all amounts due or otherwise resulting from 
such Purchases and Cash Advances. YOU 
ALSO WILL BE RESPONSIBLE FOR ANY 
LOSSES RELATING TO CASH ADVANCES OR 
RESULTING FROM ANY ATM OR POINT OF 
SALE TRANSACTION WHERE THE CORRECT 
PERSONAL IDENTIFICATION NUMBER 
WAS ENTERED IN CONNECTION WITH THE 
TRANSACTION. DO NOT GIVE OUT YOUR 
ATM PIN NUMBER TO ANYONE AND DO NOT 
KEEP IT WITH THE CARD! We take Card theft 
and fraud very seriously, and you agree to 
cooperate with our investigation and further 
agree to assign to us any claims you may 
have against any third party related to theft, 
fraud or unauthorized use.

21. Your Billing Rights Under the Fair Credit 
Billing Act.

YOUR BILLING RIGHTS. KEEP THIS 
NOTICE FOR FUTURE USE.

This notice contains important information 
about your rights and our responsibilities 
under the Fair Credit Billing Act.

Notify Us in Case of Errors or Questions 
About Your Bill 

If you think your bill is wrong, or if you need 
more information about a transaction on 
your bill, write to us on a separate sheet of 
paper at Merrick Bank, P.O. Box 9201, Old 
Bethpage, NY 11804-9001. Write to us as 
soon as possible. We must hear from you no 
later than 60 days after we sent you the first 
bill on which the error or problem appeared. 
You can telephone us, but doing so will not 
preserve your rights.

In your letter, give us the following 
information: 

• Your name and account number. 

• The dollar amount of the suspected error. 

• Describe the error and explain if you can, 
why you believe there is an error. If you 
need more information, describe the item 
you are not sure about. 

If you have authorized us to pay your credit 
card bill automatically from your savings or 
checking account, you can stop the payment 
on any amount you think is wrong. To stop 
the payment, your letter must reach us three 
business days before the automatic payment 
is scheduled to occur. 

Your Rights and Our Responsibilities After 
We Receive Your Written Notice

We must acknowledge your letter within 30 
days, unless we have corrected the error 
by then. Within 90 days we must either 
correct the error or explain why we believe 
the bill was correct. After we receive your 
letter, we cannot try to collect any amount 
you questioned, or report you as delinquent. 
We can continue to bill you for the amount 
you question, including interest charges, 
and we can apply any unpaid amount 
against your credit limit. You do not have 
to pay any questioned amount while we are 
investigating, but you are still obligated to 
pay the parts of your bill that are not  
in question.

If we find that we made a mistake on your 
bill, you will not have to pay any interest 
charges related to any questioned amount. 
If we didn’t make a mistake, you may have 
to pay interest charges, and you will have 
to make up any missed payments on the 
questioned amount. In either case, we will 
send you a statement of the amount you owe 
and the date that it is due. 

If you fail to pay the amount that we think 
you owe, we may report you as delinquent. 
However, if our explanation does not satisfy 
you and you write to us within ten days 
telling us that you still refuse to pay, we must 
tell anyone we report you to that you have a 
question about your bill. And, we must tell 
you the name of anyone we reported you to. 
We must tell anyone we report you to that the 
matter has been settled between us when it 
finally is. 

If we don’t follow these rules, we can’t collect 
the first $50 of the questioned amount, even 
if your bill was correct. 

Special Rules for Credit Card Purchases 

If you have a problem with the quality of 
property or services that you purchased 
with a 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 property or 
services. There are two limitations on  
this right: 

a) You must have made the purchases in your 
home state or, if not within your home state, 
within 100 miles of your current mailing 
address; and 

b) The purchase price must have been  
more than $50. These limitations do not 
apply if we own or operate the merchant, or 
if we mailed you the advertisement for the 
property or services. 

22. How We May Contact You to Discuss 
the Account. Your use of the Card or the 
Account, or your signature on the Card or 
any charge slip for any Purchase or Cash 
Advance transaction, hereby amounts to 
your express consent for us or our assignee 
to contact you for any purpose (including 
without limitation for the purpose of 
collection or servicing the Account) in any 
manner at any telephone number (landline 
or wireless) or physical or electronic mail 
address you ever provide or have provided to 
us. You agree that we may refuse to authorize 
Purchases or Cash Advances or close your 
Account if we are unable or unauthorized to 
contact you by telephone. For example, we 
or our assignee may, to the maximum degree 
permitted by applicable law:

(1) contact you by mail, telephone (landline 
or wireless), email, fax, recorded message, 
text message, short message service (SMS) 
and personal visit;

(2) contact you using an automated dialing 
and announcing or similar device, and to use 
artificial or prerecorded voice messages;

(3) modify or suppress caller ID and similar 
services and identify ourselves on these 
services in any manner we choose;

(4) leave prerecorded and other messages on 
your answering machine, answering service, 
voicemail and with family members or other 

persons taking messages for you; 

(5) contact you at your home and at your 
place of employment;

(6) contact you at any time, including 
weekends and holidays;

(7) contact you with any frequency; and

(8) identify ourselves, your relationship with 
us and our purpose for contacting you even if 
others might hear or read it.

We may do these things whether we contact 
you or you contact us. 

You agree that we are not required to 
reimburse you for any costs or other 
expenses resulting from our communicating 
with you by any method described in this 
Agreement. If you do not wish for us to 
use some particular manner of contacting 
you, you must notify us of this in writing. 
However, we are required by law to send you 
Billing Statements even if you request that we 
stop doing so. 

If you advise us that you are represented by 
an attorney, you must provide the attorney’s 
name, address and telephone number; if 
you do not provide the attorney’s contact 
information, we may contact you to confirm 
the representation and obtain the attorney’s 
contact information. If the attorney does 
not confirm in writing to us within 45 days 
after we contact the attorney that you are his 
or her client, then we will assume that you 
are no longer represented by the attorney 
and we may communicate with you directly. 
Additionally, if any 45-day period passes 
where your attorney does not respond to 
communications from us, we will assume 
that you are no longer represented by the 
attorney and we may communicate with  
you directly.

You recognize that there is an established 
business relationship between you and us. 
Contacts with you about your Account are not 
unsolicited and might result from information 
we obtain from you or others. If you ask us 
to discuss your Account with someone else, 
you must provide us with documents that we 
ask for and that are acceptable to us in our 
sole discretion. 

You agree that we may, in our sole discretion, 
monitor or record telephone calls with you, 
regardless of who initiates the call. We may 
at our discretion preserve records of written, 
voice and electronic communications with 
you, but we do not promise to maintain such 
records for any period of time. 

You agree that we may, in our sole discretion, 
engage the services of an unrelated third party 
for the purpose of providing alternative format 
materials for persons who are visually impaired 
or providing language translation services.

23. Where We Are and How You May 
Contact Us. We are located in Utah, and the 
Account is opened and maintained there. 
Our customer service telephone number is 
(800) 204-5936. Payments should be sent to 
the payment address indicated on the Billing 
Statement. Any general questions about 
your Account or the Card, as well as any 
questions or disputes of any item on a Billing 
Statement, should be mailed to: Merrick 
Bank, P.O. Box 9201, Old Bethpage, NY 
11804-9001. All communications relating to 
the Arbitration Agreement should be mailed 
to: Arbitration Manager, Merrick Bank, Legal 
Department, P.O. Box 5000, Draper, Utah 
84020-5000. Communicating with us at any 
other address will not protect your rights.

24. Agreement to Arbitrate Disputes and 
Class Action Waiver. This section is an 
agreement to arbitrate disputes (“Arbitration 
Agreement”) that may arise as a result of 
the Agreement or your Account. Read this 
Arbitration Agreement carefully. You may 
reject this Arbitration Agreement by notifying 
us in writing within 60 days using the 
procedure set forth at the end of this section. 
If you are a covered borrower under the 
Military Lending Act, you are not required to 
submit to arbitration, even if you fail to reject 
this Arbitration Agreement as described 
above. If a dispute arises that is covered 
by this Arbitration Agreement, you will be 
required to resolve the dispute through 
Binding Arbitration if you or we request 
Binding Arbitration as set forth herein. This 
means that you will not be able to have the 
dispute settled by trial or before a jury or 
to participate in a class action in court or a 
class action or consolidated arbitration. Other 
rights that you would have if you went to 
court may not be available or may be more 
limited in arbitration, including your right  
to appeal. 

In consideration for our willingness to 
provide you with an Account as set forth in 
the Agreement, you and we agree as follows: 

Any claim, dispute or controversy (“Claim”) 
by either you or us against the other arising 
from or relating in any way to the Agreement 
or your Account, except for the validity, 
scope or enforceability of this Arbitration 
Agreement, shall, at the demand of any party, 
be resolved by Binding Arbitration. However, 
we will not demand arbitration pursuant to 
this agreement to arbitrate in connection 
with any individual Claim that you properly 
file and pursue in a small-claims court of 
your state or municipality, so long as the 
Claim is pending only in that court. “Binding 
Arbitration” means an arbitration proceeding 
before the American Arbitration Association 
pursuant to the code of procedures of the 
American Arbitration Association in effect at 
the time the Claim is filed (the “Arbitration 
Rules”). Any arbitration proceeding will 
take place at a location within the federal 
judicial district that includes the most recent 
U.S. Mail address we have on file for you 
at the time the Claim is filed or at any other 
mutually acceptable location. Any party to the 
arbitration proceeding may enter judgment 
upon the arbitration award in any court 
having jurisdiction over the arbitration award 
and may have that judgment enforced by any 
court having jurisdiction over that judgment. 

A demand for arbitration under this 
agreement to arbitrate may be made either 
before or after a lawsuit or other legal 
proceeding begins. However, any demand 
for arbitration that is made after a lawsuit or 
other legal proceeding has begun must be 
made within 90 days following the service 
of a complaint, third-party complaint, cross-
claim or counterclaim or any answer thereto 
or any amendment to any of the above.

This agreement to arbitrate Claims includes 
all controversies and claims of any kind 
between us. It also includes any disputes 
you have with our agents, contractors, 
employees, officers or assignees, any 
merchants with whom you use the Account, 
any credit reporting agencies to whom we 
report the Account or any other third party 
that has been involved or becomes involved 
with, or whose trademarks are used in 
connection with, any purchasing, marketing, 
soliciting, servicing or credit reporting 
activity relating to your Account. 

The Claims covered by this agreement to 
arbitrate include, without limitation: 

• Any disputes regarding: the application 

you prepared in connection with 
the issuance of your Account; any 
solicitation or advertising materials 
you received in connection with your 
Account; any activities relating to 
the maintenance or servicing of your 
Account; and any funds held by the Bank 
in connection with your Account; 

• Any disputes arising from the collection 
of amounts you owe in connection with 
your Account; 

• Any disputes concerning the dollar 

amount of payments made or 
transactions posted to your Account; 

• Any disputes concerning the processing 

of items or funds transfers sent to  
the Bank for the purpose of posting  
to your Account; 

• Any disputes regarding information 

obtained by us from, or reported by us 
to, credit bureaus or others; and

• Any disputes related to insurance or other 
services or products purchased from us 
in connection with your Account. 

NO ARBITRATOR OR COURT MAY ORDER, 
PERMIT OR CERTIFY A CLASS ACTION, 
REPRESENTATIVE ACTION, PRIVATE 
ATTORNEY GENERAL LITIGATION OR 
CONSOLIDATED ARBITRATION IN 
CONNECTION WITH THIS AGREEMENT TO 
ARBITRATE. NO ARBITRATOR OR COURT 
MAY ORDER OR PERMIT A JOINDER OF 
PARTIES IN CONNECTION WITH THIS 
AGREEMENT TO ARBITRATE, EXCEPT 
FOR JOINDER OF ANY JOINT APPLICANT 
OR OTHER AUTHORIZED USER OF THE 
ACCOUNT, UNLESS BOTH YOU AND WE 
CONSENT TO SUCH JOINDER IN WRITING. 
BY ACCEPTING THIS ARBITRATION 
AGREEMENT, YOU AGREE TO WAIVE THE 
RIGHT TO INITIATE OR PARTICIPATE IN A 
CLASS ACTION, REPRESENTATIVE ACTION, 
PRIVATE ATTORNEY GENERAL LITIGATION 
OR CONSOLIDATED ARBITRATION RELATED 
TO THIS AGREEMENT OR YOUR ACCOUNT. 

The arbitrator will be required to follow 
relevant law and applicable judicial 
precedent to arrive at a decision and shall be 
empowered to grant whatever relief would 
be available in court. Where authorized by 
applicable law, the arbitrator’s award may 
include attorneys’ fees and other expenses. 
You and we both agree that the transactions 
subject to this agreement to arbitrate involve 
interstate commerce and that this agreement 
to arbitrate shall be governed by and 
enforceable under the Federal Arbitration Act.

The cost of any arbitration proceeding shall 
be divided as follows: 

• If you initiate arbitration, you will be 

responsible for paying one half of the 
filing fee, or $125, whichever is less, 
when the demand for arbitration is made.

• If we initiate arbitration, we will  
be responsible for paying all  
arbitration costs. 

• Regardless of who initiates the 

arbitration, you will not be responsible 
for any arbitration fees that exceed one 
half of the filing fee, or $125, whichever 
is less, or the fees that you would have 
incurred if the Claim had been brought 
in court. 

Notwithstanding the foregoing, if you 
believe the cost of arbitration may be too 
burdensome, you may seek a waiver of the 
filing fee under the applicable Arbitration 
Rules. If you seek, but do not qualify for  
such a waiver, we will consider a written 
request from you to advance all or part of  
the filing fee.

The arbitrator’s decision shall become final 
and binding after 30 days unless any party 
to the arbitration takes an appeal from the 
decision by making a written request to the 
American Arbitration Association. The appeal 
panel, which will consist of three arbitrators, 
will consider all factual and legal issues anew, 
will conduct the appeal in the same manner 
as the initial arbitration, and will make 
decisions based on the vote of the majority. 
We will advance any fees and costs required 
by the American Arbitration Association to 
commence any appeal. The appeal panel’s 
decision shall be final and binding. 

In the event of a conflict between the 
Arbitration Rules and this Arbitration 
Agreement, this Arbitration Agreement 
shall govern. This Arbitration Agreement 
shall not apply to any Claims as to which 
the limitations herein on class actions or 
class-action or consolidated arbitration are 
not permitted by applicable law. If any other 
provision of this agreement to arbitrate 
should be found invalid or unenforceable 
such a determination shall not affect the 
enforceability of the remaining provisions 
which shall remain and continue in full force 
and effect. 

You may contact the American Arbitration 
Association to obtain information about 
arbitration, arbitration procedures and fees 
by calling the telephone number or going to 
the Internet website indicated below: 

American Arbitration Association 
335 Madison Avenue (10th Floor) 
New York, NY 10017-4626 
800-778-7879 
www.adr.org 

RIGHT TO REJECT ARBITRATION

YOU HAVE THE RIGHT TO REJECT THIS 
AGREEMENT TO ARBITRATE, BUT YOU 
MUST EXERCISE THIS RIGHT PROMPTLY. 
If you do not wish to be bound by this 
agreement to arbitrate, you must notify us 
in writing within sixty (60) days after the 
date your Account is opened. You must 
send your request to: Arbitration Manager, 
Merrick Bank, Legal Department, P.O. 
Box 5000, Draper, Utah 84020-5000. The 
request must include your 16-digit Account 
number and a clear statement of your 
intent, such as “I reject the arbitration 
clause in the Merrick Bank Visa® or 
MasterCard® Cardholder Agreement.” Your 
election to reject arbitration will not affect 
the other terms of your Account, nor will 
we close the Account as a result of your 
election to reject arbitration. 

25. Third-Party Legal Process Against the 
Account or the Deposit Account. We will 
comply with any notice of garnishment, 
attachment, tax levy, injunction, restraining 
order, subpoena or other legal process 
relating to the Account or the Deposit 
Account that, in our sole judgment, appears 
to be valid. If your Account or Deposit 
Account becomes involved or subject to any 
legal or administrative proceeding, and we 
are ordered or required to take any action 
relative to your Account or Deposit Account 
that is inconsistent with the terms of this 
Agreement, the terms of such order or 
requirement shall supersede and replace the 
terms of this Agreement. You agree to pay all 
of our costs and expenses associated with 
responding to any matter described in this 
paragraph, including our attorneys’ fees.

26. Utah and Federal Law Apply to the 
Account. This Agreement and all matters 
relating to the Card or the Account, as well 
as any disputes between us and you, shall be 
subject to and governed by federal law and 
the internal laws of the State of Utah without 
regard to rules concerning conflicts of law or 
choice of law.

27. Jurisdiction, Venue and Service of 
Process. You acknowledge that you applied 
for credit from a bank located in Utah and by 
using the card are borrowing money from a 
bank located in Utah. You acknowledge and 
agree that we may enforce this Agreement 
and resolve any disputes, for which 
arbitration is not demanded in accordance 
with the Arbitration Agreement, in courts 
located in Salt Lake County, Utah, and that 
such courts have proper jurisdiction to 
hear any matters related to this Agreement. 
You agree that we may serve process upon 
you using certified mail from the United 
States Postal Service or any other courier 
service, and you hereby acknowledge that 
the signature of any person found at your 
residence or other address on such mailing 
receipt will serve as satisfactory proof that 
process was served upon you and shall be 
deemed notice to you thereof. 

28. We May Assign the Agreement but 
You May Not. You may not sell, assign, 
or otherwise transfer this Agreement, the 
Card, the Deposit Account or the Account, 
or any portion thereof, without the express 
written consent of the Bank. The Bank may 
sell, assign, or transfer this Agreement or 
the Account or the Deposit Account, or any 
portion thereof or any rights to collect money 
thereunder, at any time and without your 
prior consent.

29. We Do Not Waive Our Rights Through 
Inaction or Delay. The Bank’s failure to 
exercise (or delay in exercising) any of its 
rights under this Agreement or its waiver of 
its rights on any one or more occasions shall 
not constitute a waiver of such rights on any 
other occasion. All rights and remedies of 
the Bank are cumulative and may be pursued 
singularly, successively or together, at its 
sole option.

30. Severability. If any portion of this 
Agreement, other than the class action waiver 
provisions of the Arbitration Agreement, 
is deemed invalid or unenforceable, the 
remaining portions shall nevertheless remain 
in force. If the class action waiver provisions 
of the Arbitration Agreement are deemed 
invalid or unenforceable, then the entire 

Arbitration Agreement shall be null and void 
but all other portions of this Agreement shall 
nevertheless remain in force.

31. The Agreement Is an Integrated 
Agreement. This document, together with 
the Pricing Appendix and any change-in-
terms notices we send to you, constitute the 
final written expression of the Agreement 
between you and the Bank concerning the 
Card, the Account and the Deposit Account, 
and this Agreement may not be contradicted 
by evidence of any alleged oral agreement. 

32. Glossary and Definitions. The following 
definitions apply throughout your Agreement.

“Account” means the credit card account 
governed by this Agreement. The Account 
was created in and is maintained within the 
State of Utah.

“Account Balance” means what you owe 
the Bank at a particular moment in time, 
including all billed and accrued interest, 
based upon transactions that have posted 
by that time. The balance information you 
receive over the telephone from us may not 
be your payoff balance due to possible delays 
in posting or calculation, or due to fees or 
interest incurred or to be incurred, or for 
other reasons.

“Annual Fee” means the annual fee, if any, 
described in the Pricing Appendix.

“Additional Card Fee” means the additional 
fee, described in the Pricing Appendix, that 
must be paid annually for each additional 
Card provided to you, a co-applicant or an 
authorized user of the Account.

“Agreement” means this document and the 
Pricing Appendix, together with any changes 
in terms.

“Annual Percentage Rate” or “APR” is the 
interest rate stated as a yearly rate. As set 
forth in the Pricing Appendix, different APRs 
will apply to Purchases and Cash Advances.

“Arbitration Agreement” means the section 
of this Agreement entitled “Agreement to 
Arbitrate Disputes and Class Action Waiver.”

“ATM” means automated teller machine.

“Average Daily Balance” means the average 
of the daily balances on your Account during 
a Billing Cycle.

“Bank,” “Merrick Bank,” “we,” “our,” and 
“us” mean Merrick Bank Corporation.

“Billing Cycle” means the interval  
between the closing dates for each 
successive Billing Statement.

“Billing Statement” means the Billing 
Statement you receive for your Account  
each month. We are under no obligation  
to send you a Billing Statement if your 
Account Balance is zero and if you have  
no transactions on the Account during the 
Billing Cycle.

“Card” means the plastic card(s) we have 
provided to you to make charges to the 
Account, as well as any additional, renewal, 
replacement or temporary card and any other 
device or technology which may be used to 
make charges to the Account or to evidence 
its existence.

“Cash Advance” means a transaction with 
the Card wherein you receive cash or a cash 
equivalent, or wherein we provide cash or a 
cash equivalent to someone at your direction. 
Examples of Cash Advance transactions 
include ATM transactions, balance transfers, 
money transfers, money order purchases, tax 
payments, traveler’s check purchases, foreign 
currency purchases, casino chip purchases 
and gaming transactions. Even if we choose 
to treat a particular Cash Advance (or a 
portion of it) as a Purchase, we may still treat 
other Cash Advances (or portions of them) 
as Cash Advances, and we do not waive our 
right to do so.

“Cash Advance APR Cap” means the highest 
APR for Cash Advances that may apply to 
your Account.

“Cash Advance Margin” is the amount that 
is added to the Prime Rate to determine the 
APR for Cash Advances on your Account.

“Daily Periodic Rate” or “DPR” means the 
applicable APR divided by 365.

“Deposit Account” means (if the Account 
is wholly or partially secured) the Merrick 
Bank deposit account opened as security for 
the Account, as described in the “Deposit 
Account and Security Agreement (If 
Applicable)” section of this Agreement.

“EFT” means electronic funds transfer.

“Introductory Annual Percentage Rate” or 
“Introductory APR” (also “Introductory Daily 
Percentage Rate” or “Introductory DPR”) 
is a lower interest rate that applies for a 
limited amount of time after an account is 
opened. Your Account may or may not have 
Introductory rates.

“Late Payment Fee” means the fee you must 
pay if your Minimum Payment is not received 
on time. The amount of the Late Payment Fee 
is set forth in the Pricing Appendix and is in 
addition to any additional interest charges 
that accrue as a result of your paying late.

“Minimum Payment” means what you  
must pay each Billing Cycle before the 
Payment Due Date. The Minimum  
Payment is calculated as described in  
the Pricing Appendix.

“New Balance” means the total amount  
you owe to the Bank as of the end of 
the Billing Cycle described in the Billing 
Statement. If transactions are posted after  
the end of the Billing Cycle, the New Balance 
will not equal the Account Balance under 
most circumstances.

“Payment Due Date” means the date when 
your Minimum Payment must be received 
by the Bank, prior to 5 p.m. If the Minimum 
Payment is not timely received, you must 
pay a Late Payment Fee. The Payment Due 
Date will be shown on the Billing Statement 
and always will be at least 25 days after 
the last day of the prior Billing Cycle. If the 
Payment Due Date falls on a weekend or legal 
holiday, the payment will be due the following 
business day.

“Pricing Appendix” refers to the document 
attached to your Card when you first  
received it, setting forth applicable APRs, 
fees and certain other important terms of  
this Agreement.

“PIN” refers to the personal identification 
number associated with your Card for use in 
ATM and other electronic transactions.

“Prime Rate” means the prime rate of interest 
published on the last business day of each 
month in the “Bonds, Rates & Yields” or the 
“Money Rates” section of The Wall Street 
Journal (or a comparable section or rate if 
The Wall Street Journal ceases publication of 
those sections or that rate).

“Purchase” means any transaction with the 
Card between you and anyone else who 
accepts the Card as a means of payment. 
However, Cash Advances are not Purchases.

“Purchase APR Cap” is the highest APR for 
Purchases that may apply to your Account. 

“Purchase Margin” is the amount that is 
added to the Prime Rate to determine the 
APR for Purchases on your Account.

“You” and “your” means the Card applicant 
or if applying jointly, both Card applicants, 
and the person or persons to whom the Card 
is issued.

Equal Opportunity Lender Member FDIC  
G-15864  5/2016

ACCOUNT OPENING DISCLOSURES—MERRICK UNSECURED 

Interest Rates and Interest Charges 

Annual Percentage Rate (APR) for 
Purchases 

APR for Cash Advances 

Paying Interest  

Minimum Interest Charge 
For Credit Card Tips from the Consumer 
Financial Protection Bureau 

Fees 

Set Up and Maintenance Fees 

· Annual Fee 
· Account Set-up Fee  
· Additional Card Fee 

Transaction Fees 
   · Cash Advance 
   ·Foreign Transaction  

Penalty Fees 
   · Late Payment 
  ·  Over Limit 
  ·  Returned Payment 

16.95% to 29.45% when you open your account, based on 
creditworthiness. Your APR will vary with the market based on the Prime 
Rate.* 
21.95% to 34.45% when you open your account, based on creditworthiness. 
Your APR will vary with the market based on the Prime Rate.* 
Your Payment Due Date is at least 25 days after the close of each Billing 
Cycle. We will not charge you interest on Purchases if you pay your 
entire New Balance by the Payment Due Date.  We will begin charging 
interest on Cash Advances on the transaction date.  
If you are charged interest, the charge will be no less than $1.00 
To learn more about factors to consider when applying for or using a credit 
card, visit the website of the Consumer Financial Protection Bureau at  
http://www.consumerfinance.gov/learnmore. 

NOTICE:  Some of these set-up and maintenance fees will be assessed 
before you begin using your card and will reduce the amount of credit you 
initially have available. Based on an initial credit limit of $500, the initial 
available credit will be about $377 (based on a one-time $75 set-up fee and a 
$48 annual fee) or about $365 if you also choose to have an additional card. 

You may still reject this plan, provided that you have not yet used the 
account or paid a fee after receiving a billing statement.  If you do reject the 
plan, you are not responsible for any fees or charges. 

$0 to $96 the first year.  Billed $0 to $8 per month thereafter. 
$0 to $75  (one-time fee) 
$0 to $12 per additional card issued, per year. Billed $0 to $1 per month, per 
card thereafter. 

Either $10 or 4% of the amount advanced, whichever is greater.  
2% of each transaction in U.S. Dollars. 

Up to $38 
$0 
Up to $38 

How We Will Calculate Your Balance: We use a method called "average daily balances (including new purchases)."   
See your Cardholder Agreement for more details. 
Billing Rights:  Information on your rights to dispute transactions and how to exercise those rights is provided in your Cardholder 
Agreement. 
Annual Percentage Rates: Daily Periodic Rate for Purchases .04643% to .08068%; Daily Periodic Rate for Cash Advances .06013% to 
.09438%. 
Variable Rate Information:  Purchase Margin 13.20 to 25.70 percentage points; Cash Advance Margin 18.20 to 30.70 percentage 
points.  Your APR for Purchases and Cash Advances may vary. Your APR is determined monthly by adding the appropriate margin to the 
Prime Rate*. If the Prime Rate* increases, your APR will increase accordingly, with no cap.  An increase in your APR will result in an 
increase of your minimum payment amount. 
*The "Prime Rate" used to determine your APRs is the Prime Rate published in the  “Bonds, Rates & Yields” or the  "Money Rates" table 
of The Wall Street Journal on the last business day of each month. 
Minimum Payment: Minimum Payment: All past-due amounts, plus the greater of the following amounts: (i)  1% of your New Balance 
plus billed Late Fees, Cash Advance Transaction Fees, Over  Limit Fees, Returned Payment Fees, Interest Charges, any Annual Fee billed 
monthly, and any Additional Card Fee billed monthly during the billing cycle for which the  Minimum Payment is calculated, as shown 
on that periodic statement, rounded to the  next-higher dollar; or (ii) $40. If the New Balance is less than $40, the Minimum Payment will 
be the total amount owed.   

Rev 3/1/2017 mp40