Example of Credit Card Agreement for
Bank of America® Secured Mastercard® and Visa® accounts

This information is accurate as of December 31, 2021.

This credit card program is issued and administered by Bank of America, N.A. Mastercard is a registered  
trademark of Mastercard International Incorporated, and is used by the issuer pursuant to license. Visa is a  
registered trademark of Visa International Service Association, and is used by the issuer pursuant to  
license from Visa U.S.A. Inc. Bank of America is a registered trademark of Bank of America Corporation.

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PRICING INFORMATION 
Actual pricing will vary from one cardholder to another
Annual Percentage Rates for Purchases

These APRs will vary with the  
market based on the Prime Rate (as  
of 12/31/2021)

Prime + 19.74% to Prime + 20.74%
(APR) 22.99% to 23.99%
(DPR) 0.062986% to 0.065726%

Annual Percentage Rates for Balance  
Transfers

These APRs will vary with the  
market based on the Prime Rate (as  
of 12/31/2021)

Prime + 19.74% to Prime + 20.74%
(APR) 22.99% to 23.99%
(DPR) 0.062986% to 0.065726%

Annual Percentage Rates for Direct  
Deposit and Check Cash Advances

These APRs will vary with the  
market based on the Prime Rate (as  
of 12/31/2021)

Prime + 22.74% to Prime + 23.74%
(APR) 25.99% to 26.99%
(DPR) 0.071205% to 0.073945%

Annual Percentage Rates for Bank Cash  
Advances

These APRs will vary with the  
market based on the Prime Rate (as  
of 12/31/2021)

Prime + 23.99% to Prime + 25.74%
(APR) 27.24% to 28.99%
(DPR) 0.074630% to 0.079424%

Penalty APR and When it Applies

None or Up to 29.99%, based on your creditworthiness.  This APR will vary  
with the market based on the Prime Rate.
This APR may be applied to new transactions on your account if you:

• Make a late payment.

How Long Will the Penalty APR apply?:
If your APR is increased for this reason, the Penalty APR will apply  
indefinitely.
Your due date is at least 25 days after the close of each billing cycle.  We will  
not charge you any interest on purchases if you pay your entire balance by  
the due date each month.  We will begin charging interest on cash advances  
and balance transfers on the transaction date.
If you are charged interest, then the charge will be no less than $1.50.

Paying Interest

Minimum Interest Charge

Account Fees

Transaction Fees

Balance Transfer % of Transaction

0% to 3% 

ATM Cash Advance % of
Transaction

5% (min: $10 to max: uncapped)

Cash Equivalent % of Transaction

5% (min: $10 to max: uncapped)

Check Cash Advance % of
Transaction

0% to 3% 

Direct Deposit % of Transaction

0% to 3% 

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Over the Counter Cash Advance
% of Transaction

Same-Day Online Cash Advance %
of Transaction

Foreign Transaction % of
Transaction

5% (min: $10 to max: uncapped)

5% (min: $10 to max: uncapped)

0% to 3% 

Wire Transfer % of Transaction

5% (min: $10 to max: uncapped)

Penalty Fee

Late Payment Fee

Up to $40

How We Will Calculate Your Balance:  For Purchase balances, we will use a method called “average daily balance (including 
new Purchases).”  See the section titled Balances Subject to Interest Rate in your Credit Card Agreement for more details.

For Balance Transfer and Cash Advance balances, we will use an Average Balance Method (including new Balance Transfers and 
Cash Advances):  This balance is figured by adding the outstanding balance (including new Balance Transfers and Cash 
Advances and deducting payments and credits) for each day in the current billing cycle, together with the balances for each day 
in the previous billing cycle for balance transfers and cash advances with transaction dates in the previous cycle and posting 
dates in the current cycle, and then dividing by the number of days in the current billing cycle.

Military Lending Act Disclosure:  The following disclosure applies to persons covered by the Military Lending Act – other 
governmental programs and laws may also govern or apply to this transaction but are not described in the following disclosure. 
The following disclosure is required by the Military Lending Act.

Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of 
consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not 
exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: the 
costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any 
application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation 
fee charged (other than certain participation fees for a credit card account).

Please refer to the Total Minimum Payment Due section of the Credit Card Agreement accompanying this disclosure to see how 
your monthly minimum payment is calculated. 

Please call our dedicated Military Lending Act toll free number at 844.441.9168 or call collect at 302.318.8745 with any 
questions or concerns.

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CREDIT CARD AGREEMENT

YOUR SECURITY AGREEMENT (DEPOSIT ACCOUNT) WITH US 
FOR YOUR FULLY OR PARTIALLY SECURED CREDIT CARD

1. This is the "Security Agreement" referred to on the 

Application. “Bank” means Bank of America, N.A. “You,” “your” 
and “yours” refer to each person signing and/or submitting the 
Application, with each of you being referred to as a “Cardholder”. 
You are furnishing and granting the Bank a security interest in 
the Deposit Account at Bank of America, N.A. or one of its 
affiliates. “Deposit Account” or “Collateral Account” means the 
deposit account opened pursuant to the Application, as well as 
additions to, substitutions or renewals of that Deposit Account, 
which you have, by signing and/or submitting the Application, 
granted to the Bank to secure the Debt (as defined below). 
“Secured Card Account” means the secured credit card account 
to be established by the Bank upon receipt of the Application 
Form. “Debt” means all obligations to the Bank, including any 
continuing guaranty arising from the Secured Card Account, as 
well as each extension, refinance or renewal of such obligations, 
and any expenses that the Bank incurs in enforcing your 
obligations under this Agreement, including fees for independent 
and/or in-house counsel, where allowed by law. No portion of 
Deposit Account will be available to you or may be used to 
secure other loans.

2. Bank’s Rights over Deposit Account. The Bank may make 

settlements or compromises on the Deposit Account; transfer 
the Deposit Account to the Bank’s own name; or exercise 
ownership rights on the Deposit Account. You waive any right to 
require the Bank to: (a) proceed against any Cardholder or any 
other person; (b) proceed against or exhaust any security held 
under this Security Agreement; or (c) pursue any other remedy in 
the Bank’s power. The Bank may, without prior notice, and from 
time to time: (a) renew, compromise, extend, accelerate or 
otherwise change the terms relating to the Debt; (b) take and 
hold security (other than the Collateral Account) for payment of 
the Debt and enforce, exchange and release the security in any 
manner that the Bank determines is proper; (c) release or 
substitute any Cardholder, guarantor, or endorser of the Debt; 
and (d) increase or lower the Total Credit Line on your Secured 
Card Account, and no such action shall change the fact that the 
Deposit Account at all times will be held by the Bank as security 
for the Debt.

3. Defaults. The Bank may, without prior notice, declare you in 
default of the Debt if: (a) you fail to meet the conditions, to 
perform any obligation, or to make any payment under this 
agreement or any other agreement that you make relating to the 
Debt; (b) you withdraw or transfer from the Deposit Account any 
funds pledged under this Agreement; (c) you have given the Bank 
false or misleading information or misrepresentations; (d) any 
Cardholder dies; (e) any government authority takes action which 
the Bank believes adversely affects your financial condition or 
ability to repay the Debt; (f) any guaranty or other agreement 
required in connection with the Debt is violated or ineffective; or 
(g) you file a bankruptcy petition, a bankruptcy petition is filed 
against you, or you make a general assignment for the benefit of 
creditors. If you default, the Bank may declare all of the Debt 
immediately due and payable. Bank may also exercise all the 
rights of an owner of the Deposit Account.

4. Enforcing the Agreement. Upon any default, Bank is authorized 
to act as owner of the Deposit Account and to apply all or any 
portion to: (a) the Bank’s costs in enforcing its rights hereunder; 
(b) the interest and fees relating to the Debt; and (c) the 
principal of the Debt. Bank is irrevocably appointed as 
attorney-in-fact to execute any instruments required to satisfy 
Debt. This Agreement is governed by the laws of the state in 
which the Bank and Deposit Account are located. Bank’s rights 
stated in this Agreement are in addition to any others it has 
under the law. If there is a conflict regarding the security 
interest between this Agreement and any other agreement, this 
Agreement will control. You represent that no insolvency 
proceeding or general assignment for creditors is pending that 
would affect the Bank’s security interest. If Bank waives or 
delays exercising a right, it does not forfeit that right or any 
others. You waive any defense you may have against Bank. Bank 
can exercise its rights against Deposit Account even if you are 
no longer liable on Debt because of a statute of limitations or 
because of other reasons. Until Debt is fully repaid, and you have 
no further obligations under this Agreement, you will 
subordinate in favor of Bank any right of subrogation and any 
right to enforce a remedy Bank now has or may later have.

5. After receipt of payments on the Secured Card Account, Bank 

may withhold the release of available credit equal to the amount 
of the payment for a period of time to ensure that sufficient 
funds are available.

6. Return of Security Deposit. There are two scenarios that may 
result in your security deposit being returned, and in the second 
scenario, you will be allowed to continue to use your card: (a) If 
you pay your balance in full and close your credit card account, 
we’ll return your security deposit, which can take up to two 
billing cycles plus ten days; (b) Periodically, we will review your 
overall credit history to see if you qualify to have your security 
deposit returned. A decision to return the security deposit is 
based on responsible credit management across all of your 
credit cards and loans, including Bank of America and others. Not 
all customers will qualify. If the Bank determines that the 
collateral from “Deposit Account/Collateral Account” shall be 
released, the Bank will pay the collateral amount to the Primary 
Applicant either by (a) depositing funds into an account with the 
Bank on which the Primary Applicant is one of the owners, or (b) 
some other method deemed sufficient by the Bank.

YOUR CONTRACT WITH US
This document, and any future changes to it, is your contract with 
us. We will refer to this document as your "Agreement" or "Credit 
Card Agreement"; these terms also include any changes we may 
make to this document from time to time.

We reserve the right to amend this Agreement at any time, by 
adding, deleting, or changing provisions of this Agreement. All 
amendments will comply with the applicable notice requirements of 
federal and North Carolina law that are in effect at that time.

If an amendment gives you the opportunity to reject the change, 
and if you reject the change in the manner provided in such 
amendment, we may terminate your right to receive credit and may 
ask you to return all credit devices as a condition of your rejection. 
We may replace your card with another card at any time.

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The reasons we may amend this Agreement include the 
following:

• Changes in regulation or legislation, or a change in the  

interpretation of a regulation or legislation.

• Changes related to your individual credit history, such  
as: your risk profile, your payment or transaction  
patterns, balance patterns, the utilization levels of this  
and other accounts, credit bureau information including  
the age, history and type of other accounts, and the  
measure of risk associated with each.

• Changes to overall economic and market trends,  

product design, and business needs.

"We", "us", "our" means Bank of America, N.A.

"You" and "your" mean each and all of the persons who are granted, 
accept or use the account and any person who has guaranteed 
payment of the account.

You may use your account for personal, family, or household 
purposes. You may not use your account for business or commercial 
purposes.

Our failure or delay in exercising any of our rights under this 
Agreement does not mean that we are unable to exercise those 
rights later.
TYPES OF TRANSACTIONS
You may obtain credit in the form of Purchases, Balance 
Transfers, and Cash Advances, by using cards, access checks, an 
account number, or other credit devices. Balance Transfers and 
certain Cash Advances, such as Direct Deposits, are made available 
to you at our discretion. Cards are all the credit cards we issue to 
you and to any other person with authorization for use on this 
account pursuant to this Agreement. Sign your card before using it. 
A Personal Identification Number (PIN) is associated with your 
credit card as of the opening of your account. You may be required 
to use a PIN to make an ATM Cash Advance or to complete 
Purchases at certain merchant terminals, generally overseas. You 
can obtain your PIN by going to our online banking site or our 
mobile application, or contacting us. An access check is a check we 
provide to you to obtain credit on this account. All access checks 
include an expiration date printed at the top. We will honor access 
checks received for payment before the expiration date printed on 
the check, provided your account is open and in good standing, with 
available credit. Access checks without a printed expiration date will 
not be honored.

Purchase means the use of your card or account number (including 
through the use of an enabled mobile device) to:

1. buy or lease goods or services;
2. buy wire transfers from a non-financial institution  

(Wire Transfer Purchase);

3. make a transaction that is not otherwise a Cash  

Advance.

Purchases include Account Fees, as well as Transaction Fees and 
adjustments associated with any Purchase.

Balance Transfer means a transfer of funds to another creditor 
initiated by us at your request. A Balance Transfer does not include 
a transaction that is otherwise a Cash Advance. Balance Transfers 
include Transaction Fees and adjustments associated with any 
Balance Transfer.

A Cash Advance means the use of your account for a loan in the 
following ways:

1. Direct Deposit: by a transfer of funds via an ACH  

(Automated Clearing House) transaction to a deposit  
account initiated by us at your request. A Direct  
Deposit does not include an Overdraft Protection Cash  
Advance or a Same-Day Online Cash Advance.

2. Check Cash Advance: by an access check you sign as  

drawer.

3. Bank Cash Advance: by loans accessed in the  

following manner:

a. ATM Cash Advance: at an automated teller  

machine;

b. Over the Counter (“OTC”) Cash Advance: at  
any financial institution (e.g., to obtain cash,  
money orders, wire transfers, or travelers checks);

c. Same-Day Online Cash Advance: by a same  
day online funds transfer to a deposit account;
d. Overdraft Protection Cash Advance: by a  

transfer of funds to a deposit account pursuant to  
an overdraft protection program (see the section  
titled Overdraft Protection below);

e. Cash Equivalents: by the purchase of foreign  
currency, money orders, travelers checks, or to  
obtain cash, each from a non-financial institution,  
or person-to-person money transfers, bets,  
lottery tickets purchased outside the United  
States, casino gaming chips, cryptocurrency, or  
bail bonds, with your card or account number  
(including through the use of an enabled mobile  
device).

Cash Advances include Transaction Fees and adjustments 
associated with any Cash Advance.

All Bank Cash Advances are subject to the Cash Credit Line. For 
more information on credit lines, please refer to the section titled 
Your Credit Lines within this Agreement.

You agree that we may rely on information provided by merchants 
and your applicable payment network to categorize transactions 
among Purchases, Balance Transfers, or various types of Cash 
Advances.

YOUR CREDIT CARD ACCOUNT AND YOUR MOBILE PHONE 
OR OTHER MOBILE DEVICES
Smart phones, some tablets or other mobile devices (a “mobile 
device”) can download, store, and/or access account information, 
for instance through a mobile wallet, that may enable you to use 
the mobile device to purchase goods or services, make a balance 
transfer, or make a cash advance.

In certain instances, those transactions will replicate using your 
card to make a transaction on the internet with your computer. In 
other instances, the phone or mobile device will act as if it were a 
credit card itself. Applications that enable your mobile device will 
have unique terms governing those applications. Read them 
carefully. Transactions made through those applications are 
governed by this Agreement.

When your credit card account information is accessible by your 
mobile device, it is important that you treat your mobile device with 
the same care you would your credit card. For example, you should 
secure your mobile device against unauthorized access. Keep in 
mind, if you give someone your phone, or other mobile device, that 
can be the same as giving that person your credit card.

FOREIGN TRANSACTIONS
A “Foreign Transaction” is any transaction (1) made in a foreign 
currency, or (2) made in U.S. dollars if the transaction is made or 
processed outside of the United States. Foreign Transactions 
include, for example, online transactions made in the U.S. but with a 

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merchant who processes the transaction in a foreign country. If you 
make a Foreign Transaction, we will assess the Foreign Transaction 
Fee [see the Pricing Information table for fee amount]. If a 
transaction is made in a foreign currency, the transaction will be 
converted by Visa International or Mastercard International, 
depending on which card is associated with this account, into a U.S. 
dollar amount in accordance with the operating regulations or 
conversion procedures in effect at the time the transaction is 
processed. The currency conversion rate used by Visa is either (a) a 
rate selected by Visa from the range of rates available in wholesale 
currency markets for the applicable processing date, which rate 
may vary from the rate Visa receives; or (b) the rate mandated by a 
government or governing body in effect for the applicable 
processing date. The currency conversion rate for Mastercard is 
based on (a) rates observed in the wholesale market or (b) 
government-mandated rates, where applicable, for the transaction 
date or the processing date. The currency conversion rate in effect 
on the processing date may differ from the rate in effect on the 
transaction date or posting date.
INTEREST AND FEES
INTEREST RATES - ANNUAL PERCENTAGE RATES (APRs)
This section provides the interest rates, also referred to as 
corresponding Annual Percentage Rates (APRs), which are 
applicable to your account. The APR corresponds to the Daily 
Periodic Rates (DPRs): the APR is equal to the DPR multiplied by 
365, and the DPR is equal to the APR divided by 365. Interest 
charges are calculated by using the DPR. If a rate is a variable rate, 
we calculate that APR by adding together an index and a margin. 
For more information on variable rates, please refer to the How to 
Calculate Variable Rates section within this summary.

PROMOTIONAL RATES AND FEES
Promotional or Introductory Offers are temporary APRs 
(Promotional or Introductory Rates) or transaction fees 
(Promotional or Introductory Fees) that are offered on certain 
qualifying new transactions for a specified period of time. Each 
Offer will be assigned a unique Offer ID which will appear on your 
credit card statement after the first qualified new transaction for 
that Offer. If you revolve your balance to take advantage of a 
Promotional or Introductory Offer, all transactions and balances, 
including purchases, will be charged interest.

CURRENT RATES
Your current rate is the rate that will apply to transactions that are 
not subject to an Introductory or a Promotional Rate.

[see the Pricing Information table for current rates]

RATES FOR PROTECTED BALANCES
When an interest rate change for new transactions is applied to 
your account, any existing balances of that type will be identified as 
Protected Balances on your statement. These Protected Balances 
generally are kept at their current APR until the balances are paid in 
full.

PENALTY APR AND WHEN IT APPLIES
(If your account is subject to Penalty APR)
The Penalty APR is the APR(s) which may be applied to new 
Purchases, Balance Transfers, and Cash Advances, for certain 
default occurrences as described below.

We may increase the APRs on new transactions up to the Penalty 
APR, based on your creditworthiness, each time a Total Minimum 
Payment Due is not received by its applicable Payment Due Date. 
We may elect to set your APRs for Purchases, Balance Transfers, 
Direct Deposit and Check Cash Advances, and Bank Cash Advances 
to different Penalty APRs. We will provide you with a minimum of 

45 days advance notice. An increased Penalty APR will remain in 
effect indefinitely.

Penalty APRs are variable rates calculated using the variable rate 
formula with a margin of up to 26.74 percentage points; this 
currently results in an APR of 29.99% (0.082164% DPR). The 
calculated Penalty APR using this variable rate formula will not 
exceed 29.99%.

HOW TO CALCULATE VARIABLE RATES
Variable Rates are calculated by adding together an index and a 
margin. This index is the highest U.S. Prime Rate as published in the 
“Money Rates” section of The Wall Street Journal on the last 
publication day of each month.

An increase or decrease in the index will cause a corresponding 
increase or decrease in your variable rates on the first day of your 
billing cycle that begins in the same month in which the index is 
published. An increase in the index means that you will pay higher 
interest charges and have a higher Total Minimum Payment Due. If 
The Wall Street Journal does not publish the U.S. Prime Rate, or if it 
changes the definition of the U.S. Prime Rate, we may, in our sole 
discretion, substitute another index.

CALCULATION AND BILLING OF INTEREST CHARGES

We calculate interest by multiplying each Balance Subject to 
Interest Rate by its applicable DPR and that result is multiplied by 
the number of days in the billing cycle. Interest is calculated and 
posted to the applicable Purchase, Balance Transfer or Cash 
Advance balance on the last day of the billing cycle after all other 
transactions have posted and payments have been allocated.

BILLING CYCLE
A billing cycle is a time period that ends on a Statement Closing 
Date (or Closing Date) determined by us and begins on the day after 
the Closing Date of the previous billing cycle. Each monthly 
statement reflects a single billing cycle.

PAYING INTEREST
When applicable, interest accrues daily and compounds daily on new 
transactions, and balances remaining from previous billing cycles. 
Interest will continue to accrue even though you have paid the full 
amount of any related balances because we include any accrued but 
unpaid interest in the calculation of each Balance Subject to 
Interest Rate.

We will not charge you any interest on Purchases if you always pay 
your entire New Balance Total by the Payment Due Date. 
Specifically, you will not pay interest for an entire billing cycle on 
Purchases if you Paid in Full the two previous New Balance Totals 
on your account by their respective Payment Due Dates; otherwise, 
each Purchase begins to accrue interest on its transaction date or 
the first day of the billing cycle, whichever date is later.

We will begin accruing interest on Balance Transfers and Cash 
Advances on the transaction date. The transaction date for access 
checks is the date the check is first deposited or cashed.

New Balance Total means the total billed amount as of the Closing 
Date of a billing cycle, as shown on your monthly statement.

Pay in Full or Paid in Full means payments and credits (excluding 
credits made in accordance with first-year fee limits or the Military 
Lending Act) in a billing cycle totaling at least your previous billing 
cycle's New Balance Total.

Your Payment Due Date will be at least 25 days from your 
statement Closing Date and will fall on the same calendar day each 
month.

BALANCES SUBJECT TO INTEREST RATE

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Average Daily Balance Method (including new Purchases): We 
calculate separate Balances Subject to an Interest Rate for 
Purchases and for each Introductory or Promotional Offer balance 
consisting of Purchases by: (1) calculating a daily balance for each 
day in the current billing cycle; (2) adding all the daily balances 
together; and (3) dividing the sum of the daily balances by the 
number of days in the current billing cycle.

To calculate the daily balance for each day in the current billing 
cycle, we: (1) take the beginning balance; (2) add an amount equal 
to the applicable DPR multiplied by the previous day's daily balance; 
(3) add new Purchases, new Account Fees, and new Transaction 
Fees; and (4) subtract applicable payments and credits. If any daily 
balance is less than zero we treat it as zero.

Average Balance Method (including new Balance Transfers 
and new Cash Advances): We calculate separate Balances Subject 
to an Interest Rate for Balance Transfers, Cash Advances, and for 
each Introductory or Promotional Offer balance consisting of 
Balance Transfers or Cash Advances by: (1) calculating a daily 
balance for each day in the current billing cycle; (2) calculating a 
daily balance for each day prior to the current billing cycle that had 
a “Pre-Cycle balance” – a Pre-Cycle balance is a Balance Transfer or 
a Cash Advance with a transaction date prior to the current billing 
cycle but with a posting date within the current billing cycle; (3) 
adding all the daily balances together; and (4) dividing the sum of 
the daily balances by the number of days in the current billing cycle.

To calculate the daily balance for each day in the current billing 
cycle, we: (1) take the beginning balance; (2) add an amount equal 
to the applicable DPR multiplied by the previous day's daily balance; 
(3) add new Balance Transfers, Cash Advances and Transaction 
Fees; and (4) subtract applicable payments and credits. If any daily 
balance is less than zero we treat it as zero.

To calculate a daily balance for each day prior to the current billing 
cycle that had a Pre-Cycle balance, we: (1) take the beginning 
balance attributable solely to a Pre-Cycle balance (which will be 
zero on the transaction date associated with the first Pre-Cycle 
balance); (2) add an amount equal to the applicable DPR multiplied 
by the previous day's daily balance; and (3) add only the applicable 
Pre-Cycle balances, and their related Transaction Fees. We exclude 
from this calculation all transactions posted in previous billing 
cycles.

MINIMUM INTEREST CHARGE
If the total of the interest charges for all balances is less than 
$1.50, then a Minimum Interest Charge of $1.50 will be assessed 
on the account. This fee is in lieu of any interest charge.

TRANSACTION FEES
We will assess the following Transaction Fees to your account in 
the same balance category to which the transaction is posted, [see 
the Pricing Information table for fee amounts].

Balance Transfer 

ATM Cash Advance 

Cash Equivalent 

Check Cash Advance 

Direct Deposit 

Over the Counter Cash Advance 

Same-Day Online Cash Advance 

Foreign Transaction 

Wire Transfer Purchase

ACCOUNT FEES

The following fees are assessed as Purchases in the billing cycle in 

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which the fees accrue:

We will assess a Late Fee, if the Total Minimum Payment Due 
shown on your monthly statement is not received by us on or 
before its Payment Due Date. The Late Fee will not exceed the 
Total Minimum Payment Due immediately prior to assessment of 
the fee. On the Late Fee transaction date: [see the Pricing 
Information table for fee amount].
PAYMENTS AND DEFAULT
YOUR PROMISE TO PAY
You promise to pay us the amounts of all credit you obtain, which 
includes all Purchases, Balance Transfers, and Cash Advances. You 
also promise to pay us all the amounts of interest charges, fees, 
and any other transactions charged to your account.

PAYMENTS ON YOUR ACCOUNT
You must pay each month at least the Total Minimum Payment Due 
shown on your monthly statement by its Payment Due Date. 
Payments must conform to the requirements set out on that 
monthly statement; these requirements may vary without prior 
notice. You may pay the entire amount you owe us at any time. 
Payments made in any billing cycle that are greater than the Total 
Minimum Payment Due will not affect your obligation to make the 
next Total Minimum Payment Due. If you overpay or if there is a 
credit balance on your account, we will not pay interest on such 
amounts. We will reject payments that are not drawn in U.S. dollars 
and those drawn on a financial institution located outside of the 
United States. We reserve the right to reject any payment if your 
account has a credit balance as of the day we receive that payment. 
Generally, credits to your account, such as those generated by 
merchants or by person-to-person money transfers, are not treated 
as payments and will not reduce your Total Minimum Payment Due.

PAYMENT CONVERSIONS
We process most payment checks electronically. We use the 
information on your check to create an electronic funds transfer. 
Each time you send a check, you authorize a one-time electronic 
funds transfer. You also authorize us to process your check as a 
check or paper draft, as necessary. Funds may be withdrawn from 
your account as soon as the same day we receive your payment. 
You will not receive your cancelled check because we are required 
to destroy it. We will retain an electronic copy.

TOTAL MINIMUM PAYMENT DUE
You may pay your total outstanding balance at any time. Each 
billing cycle, you must pay at least the Total Minimum Payment Due 
shown on your monthly statement by its Payment Due Date. The 
Total Minimum Payment Due is the sum of all past due amounts 
plus the Current Payment.

The Current Payment for each billing cycle includes three amounts: 
(1) 1.00% of your balance (your New Balance Total except for any 
new interest charges and any new Late Fee), and (2) new interest 
charges, and (3) any new Late Fee. Your current Payment will not be 
less than $35.00. We round the payment amount down to the 
nearest dollar.

The Total Minimum Payment Due will not be greater than your New 
Balance Total. If a payment is credited to your account but is 
returned unpaid in a later billing cycle, we will recalculate the Total 
Minimum Payment Due for the billing cycle in which the payment 
was originally credited.

WHEN YOUR PAYMENT WILL BE CREDITED TO YOUR 
ACCOUNT
We credit mailed payments as of the date received, if the payment 
is: (1) received by 5 p.m. local time at the address shown on the 
remittance portion of your monthly statement; (2) paid with a check 
drawn in U.S. dollars on a U.S. financial institution or a U.S. dollar 

money order; and (3) sent in the return envelope with only the 
remittance portion of your statement accompanying it. However, 
mailed payments need not be sent in a return envelope if we sent 
you a statement without a return envelope. Payments received 
after 5 p.m. local time at the remittance address on any day 
including the Payment Due Date, but that otherwise meet the 
above requirements, will be credited as of the next day. Credit for 
any other payments may be delayed up to five days.

HOW WE ALLOCATE YOUR PAYMENTS
Monthly minimum payments are required when you carry a balance. 
Payments are allocated to posted balances. If your account has 
balances with different APRs, we will allocate the amount of your 
payment equal to the Total Minimum Payment Due to the lowest 
APR balances first. Payment amounts in excess of your Total 
Minimum Payment Due will be applied to balances with higher APRs 
before balances with lower APRs. If a payment is returned, we 
reserve the right to debit the returned payment amount to the 
balance subject to the current non-promotional rate for Purchases 
on the account.

PROMISE TO PAY APPLIES TO ALL PERSONS
All persons who initially or subsequently request, are granted, 
accept, guarantee or use the account are individually and together 
responsible for any total outstanding balance. If you are responsible 
to pay any total outstanding balance, we may refuse to release you 
from liability until all of the cards, access checks, and other credit 
devices outstanding under the account have been returned to us 
and you repay us the total outstanding balance owed to us under 
the terms of this Agreement.

DEFAULT
You will be in default of this Agreement if: (1) you fail to make any 
required Total Minimum Payment Due by its Payment Due Date; (2) 
your total outstanding balance exceeds your Total Credit Line; (3) 
your Bank Cash Advance balance exceeds your Cash Credit Line; or 
(4) you fail to abide by any other term of this Agreement. Solely for 
the purposes of determining eligibility and premium payment 
obligations for the optional credit insurance purchased through 
Bank of America, you will be deemed in default or delinquent if you 
fail to make a payment within 90 days of your Payment Due Date.

WHEN WE MAY REQUIRE IMMEDIATE REPAYMENT
If you are in default, then in addition to our other remedies under 
this Agreement, we can require immediate payment of your total 
outstanding balance and, unless prohibited by applicable law, we 
can also require you to pay the costs we incur in any collection 
proceeding, as well as reasonable attorneys' fees if we refer your 
account for collection to an attorney who is not our salaried 
employee.

OTHER PAYMENT TERMS
We can accept late payments, partial payments, or payments with 
any restrictive writing without losing any of our rights under this 
Agreement. This means that no payment, including those marked 
with paid in full or with any other restrictive words, shall operate as 
an accord and satisfaction without the prior written approval of one 
of our senior officers. You may not use a postdated check to make a 
payment. If you do postdate a payment check, we may elect to 
honor it upon presentment or return it uncredited to the person 
that presented it, without in either case waiting for the date shown 
on the check. We are not liable to you for any loss or expense 
arising out of the action we elect to take.

MODIFICATIONS TO REQUIRED MINIMUM MONTHLY 
PAYMENTS
We may allow you, from time to time, to omit a monthly payment 
or make a reduced payment. We will notify you when these options 

are available. This will only occur on an isolated basis, such as when 
the bank is working with borrowers affected by a federally declared 
disaster. If in response to this notification, you omit a payment or 
make a reduced payment, interest charges, applicable fees, and 
other regular transactions, if any, will accrue on your account 
balances in accordance with this Agreement. The reduced payment 
amount may be less than your interest charges. You must make the 
reduced payment on time to avoid a Late Fee. You must resume 
making your regular Total Minimum Payment Due each month 
following any modifications made to your required minimum 
monthly payment.
CREDIT AVAILABILITY
YOUR CREDIT LINES
Your Total Credit Line and Cash Credit Line are disclosed to you 
when you receive your card and, generally, on each monthly 
statement. The Total Credit Line is the amount of credit available 
for the account; however, only a portion of that is available for Bank 
Cash Advances. The Cash Credit Line is that amount you have 
available for Bank Cash Advances. The amount of credit available in 
your Cash Credit Line will never exceed the amount of credit 
available in your Total Credit Line.

We may change your credit lines from time to time. We base that 
decision on a variety of factors such as your payment and 
transaction history with us, and information we receive from third 
parties, including credit reporting agencies. The amounts shown on 
your monthly statement as available credit do not take into account 
Purchases, Balance Transfers, Cash Advances, interest charges, 
fees, any other transactions, or credits which post to your account 
after the Closing Date of that monthly statement.

WHAT WE MAY DO IF YOU ATTEMPT TO EXCEED YOUR 
CREDIT LINES
The total outstanding balance on your account plus authorizations 
at any time must not be more than your Total Credit Line. The total 
outstanding balance of your Bank Cash Advances (plus 
authorizations) must not be more than your Cash Credit Line.

Each time you attempt a transaction which results in your 
applicable outstanding balance (plus authorizations) exceeding a 
credit line, we may: (1) permit the transaction without raising your 
credit line; (2) permit the transaction and treat the amount of the 
transaction that is more than the credit line as immediately due; or 
(3) refuse to permit the transaction.

If we refuse to permit the transaction, we may advise the person 
who attempted the transaction that it has been refused. If we 
refuse to permit a Check Cash Advance or Balance Transfer, we 
may do so by advising the person presenting the Check Cash 
Advance or Balance Transfer that credit has been refused, that 
there are insufficient funds to pay the Check Cash Advance or 
Balance Transfer, or in any other manner.

WE MAY SUSPEND OR CLOSE YOUR ACCOUNT
We may suspend or close your account or otherwise terminate your 
right to use your account. We may do this at any time and for any 
reason. We may elect to not honor any access check which is 
written after the expiration date printed on that check. You may 
close your account at anytime by notifying us in writing or by 
telephone. Your obligations under this Agreement continue even 
after the account is closed. You must destroy all cards, access 
checks or other credit devices on the account when the account is 
closed.

When your account is closed, you must contact anyone authorized 
to charge transactions to your account, such as internet service 
providers, health clubs or insurance companies. These transactions 

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may continue to be charged to your account until you change the 
billing. Also, if we believe you have authorized a transaction or are 
attempting to use your account after you have requested to close 
the account, we may allow the transaction to be charged to your 
account.

REFUSAL TO HONOR YOUR ACCOUNT
We may deny any transactions for any reason at our discretion. We 
are not liable for any refusal to honor your account. This can include 
a refusal to honor your card or account number or any check written 
on your account. We are not liable for any retention of your card by 
us, any other financial institution, or any provider of goods or 
services.

RECURRING PREAUTHORIZED TRANSACTIONS
Recurring preauthorized transactions occur when you authorize a 
merchant to automatically initiate a transaction using your account 
on a recurring basis. If we issue a new credit card with a different 
number or expiration date to you, we may (but are not obligated to) 
provide your new card number and expiration date to a merchant 
with whom you have set up a recurring preauthorized transaction in 
order to continue your recurring preauthorized transactions. There 
will be circumstances where you will have to contact the merchant.
LIMITATIONS/WARNINGS
PURPOSES FOR USING YOUR ACCOUNT
You may not use this account to make a payment on this or any 
other credit account with us or our affiliates. You may not use or 
permit your account to be used to make any illegal transaction. You 
will only use your account for transactions that are legal where you 
conduct them. We may charge your account for such transactions. 
We will not be liable if you engage in an illegal transaction. We may 
deny authorization of any transactions identified as Internet 
gambling. You may not use your account to conduct transactions in 
any country or territory, or with any individual or entity that is 
subject to economic sanctions administered and enforced by the 
U.S. Department of the Treasury's Office of Foreign Assets Control 
(OFAC). Use of your account in those countries will be blocked.

PERSONS USING YOUR ACCOUNT
If you permit any person to use your card, access checks, account 
number, or other credit device with the authorization to obtain 
credit on your account, you will be liable for all transactions made 
by that person including transactions for which you may not have 
intended to be liable, even if the amount of those transactions 
causes a credit line to be exceeded. Authorized users of this 
account may have the same access to information about the 
account and its users as the account holders. We may send account 
materials (cards, statements and notices) to any liable party, and 
that person will be responsible for delivering those materials to the 
other liable parties and authorized users. Notice to any of you will 
be considered notice to all of you. You may allow authorized users 
on your account in the following ways: (1) by notifying us that you 
want someone added to your account as an authorized user; (2) by 
lending or otherwise intentionally making your card, account 
number, or credit device accessible to another; or (3) by any other 
ways in which you would be legally considered to have allowed 
another to use your account or to be legally prevented from denying 
that you did so. You must think carefully before you allow anyone to 
become an authorized user. By doing so, you authorize the person 
to use your account to the same extent you can, including but not 
limited to making any Purchases, Balance Transfers, Cash Advances, 
and allowing others to use your account. Your account does not 
permit you to limit the nature or amount of authority you give to 
any authorized user and you will not attempt to do so. An 
authorized user's authority will continue until you both notify us 
that you are terminating the authority and you physically retrieve 
the card or other credit device.

ACCESS CHECKS
You may request a stop payment on an access check by providing 
us with the access check number, dollar amount, and payee exactly 
as they appear on the access check. Oral and written stop payment 
requests on an access check are effective for six months from the 
day that we place the stop payment.
You may not issue a postdated access check on your account. If you 
do postdate an access check, we may elect to honor it upon 
presentment or return it unpaid to the person that presented it to 
us for payment, without in either case waiting for the date shown 
on the access check. We are not liable to you for any loss or 
expense arising out of the action we elect to take.
MISCELLANEOUS
OVERDRAFT PROTECTION
If your eligible deposit account with Bank of America is linked to 
this account, this overdraft protection feature (which may also be 
referred to as Balance ConnectTM) will allow funds to be transferred 
(overdraft protection transfers) from this account into your 
designated deposit account with Bank of America when 
transactions occur on your deposit account, such as checks or other 
debits, that if paid would cause the deposit account to be 
overdrawn (overdraft transactions). Overdraft protection transfers 
include automatic transfers to cover deposit account fees. 
Overdraft protection transfers are processed after close of business 
Monday through Friday and are treated as Overdraft Protection 
Cash Advances.

Each day’s overdraft transactions to be funded by this account will 
be totaled up to your available Cash Credit Line, regardless of who 
initiated the overdraft transactions. For example, if your deposit 
account has a balance of $5.00 and a check or other debit item for 
$125.00 is presented for payment, which if paid would cause your 
deposit account to be overdrawn, and your deposit account is 
subject to a $12.00 deposit account overdraft protection transfer 
fee, then an overdraft protection transfer of $132.00 ($120.00 
overdrawn balance plus $12.00 deposit account overdraft 
protection transfer fee) will be made to your deposit account and 
an Overdraft Protection Cash Advance of $132.00 will post to this 
account. The Portion of Credit Available for Cash on this account 
must be sufficient to cover the amount of overdraft transactions to 
be funded by this account (received by Bank of America that day); 
otherwise one or more of the overdraft transactions for that day 
will be rejected. Payments or credits to this account may not 
impact your Portion of Credit Available for Cash until after the 
posting date of the payments or credits. 

Overdraft protection transfers may be subject to a fee to your 
linked deposit account for each transaction, as set forth by the 
terms of your deposit account. Overdraft protection transfers incur 
interest charges from the transaction date. We may permit or 
refuse to permit any overdraft protection transfer that would cause 
you to exceed the Cash Credit Line of this account. This overdraft 
protection feature will automatically be cancelled if this account is 
closed by either you or us, or at any time upon your request, and 
may also be cancelled according to the terms of your deposit 
account. Your overdraft transactions remain subject to the terms of 
your deposit account with Bank of America, any related enrollment 
agreement and this Agreement.

TELEPHONE CALLS: CALLING, MONITORING AND 
RECORDING
You consent to and authorize Bank of America, any of its affiliates, 
its marketing associates, and independent contractors including 
servicers, vendors and collection agents, to monitor and/or record 
any of your telephone conversations and other electronic 
communications with our representatives or the representatives of 

6

any of those companies for reasonable business purposes including 
security and quality assurance. We will not remind you that we may 
be monitoring or recording a call at the outset of the call unless 
required by law to do so.

Where you have provided a cell phone number directly to us, you 
consent and agree to accept servicing calls and text messages to 
your cell phone from us. For example, we may place calls to you 
about fraud alerts or amounts you owe us (collection calls) on your 
account. For any telephone or cell phone calls/communications we 
place to you, you consent and agree that those calls may be 
automatically dialed including prerecorded messages or texts. This 
may include communications from companies working on our 
behalf to service your account. Message and data rates may apply.

Communication Revocation: If you do not want to receive 
automatically dialed communications for this account, including 
prerecorded messages or texts, as described above, you must (1) 
provide us with written notice revoking your prior consent; and (2) 
in that written notice, include your name and mailing address as 
they appear on the account, and the last four digits of your account 
number. The notice must be sent to the address listed below.

PO Box 982236
El Paso, TX 79998-2236

CREDIT REPORTING AGENCIES; COLLECTING AND SHARING 
INFORMATION
You authorize us to collect information about you in order to 
conduct our business and deliver the top quality service you expect, 
including information we receive about you, information we receive 
from third parties such as credit reporting agencies and 
information about your transactions with us and other companies. 
You authorize us to share such information about you or your 
account with our affiliates and others. You may have the right to 
opt out of some information sharing. For more details, please refer 
to our Privacy Notice.

If you believe we have furnished inaccurate or incomplete  
information about you or your account to a credit reporting  
agency, write to us at: Bank of America, N.A., Credit Reporting  
Agencies, P.O. Box 653059, Dallas, TX 75265-3059. Please  
include your name, address, home phone number, and account  
number, and explain what you believe is inaccurate or  
incomplete.

BENEFITS
We may offer you certain benefits and services with your account. 
Any benefits or services are not a part of this Agreement, but are 
subject to the terms and restrictions outlined in the Benefits Guide 
and other official documents provided to you from time to time by 
or on behalf of Bank of America. We may adjust, add, or delete 
benefits and services at any time and without notice to you.

WE MAY SELL YOUR ACCOUNT
We may at any time, and without notice to you, sell, assign or 
transfer your account, any amounts due on your account, this 
Agreement, or our rights or obligations under your account or this 
Agreement to any person or entity. The person or entity to whom 
we make any such sale, assignment or transfer shall be entitled to 
all of our rights and shall assume our obligations under this 
Agreement, to the extent sold, assigned or transferred.

YOU MUST NOTIFY US WHEN YOU CHANGE YOUR ADDRESS
You must notify us promptly when you change your address. We 
may also change your address if so notified by the post office or 
others.

WHAT LAW APPLIES
This Agreement is made in North Carolina and we extend credit to 
you from North Carolina. This Agreement is governed by the laws of 
the State of North Carolina (without regard to its conflict of laws 
principles) and by any applicable federal laws.

PROVISIONS OF THIS AGREEMENT ARE SEVERABLE
If any provision of this Agreement is found to be invalid, the 
remaining provisions will continue to be effective.

We use section headings (e.g., Types of Transactions) to organize 
this Agreement. The headings are for reference purposes only.

UNAUTHORIZED USE OF YOUR ACCOUNT
Please notify us immediately of the loss, theft, or possible 
unauthorized use of your account at 1.800.421.2110.

SECURITY INTEREST
This account is secured by the Deposit Account referred to in the 
Security Agreement. We have included the Security Agreement in 
the first part of this document. You have affirmatively agreed to 
and granted to us a security interest in the Deposit Account. We can 
transfer funds from the Deposit Account to this secured account if 
you default on the debt arising from this account. Such instances of 
your default are described herein and in the Security Agreement, 
and may include, for example, your failing to make a payment.

YOUR BILLING RIGHTS
Keep This Document For Future Use

This notice tells you about your rights and our 
responsibilities under the Fair Credit Billing Act.

What To Do If You Find A Mistake On Your Statement

If you think there is an error on your statement, write to us at:

Bank of America
P.O. Box 672050
Dallas, TX 75267-2050

In your letter, give us the following information:

• Account information: Your name and account number.

• Dollar amount: The dollar amount of the suspected  

error.

• Description of problem: If you think there is an error on  
your bill, describe what you believe is wrong and why  
you believe it is a mistake.

You must contact us:

• Within 60 days after the error appeared on your  

statement.

• At least 3 business days before an automated payment  

is scheduled, if you want to stop payment on the  
amount you think is wrong.

You must notify us of any potential errors in writing. You may call 
us, but if you do we are not required to investigate any potential 
errors and you may have to pay the amount in question.

Note: It is very helpful if your letter includes the transaction date 
and the reference number for the charge, if available.

What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

1. Within 30 days of receiving your letter, we must tell  

you that we received your letter. We will also tell you if  
we have already corrected the error.

7

 
you our decision. At that point, if we think you owe an amount and 
you do not pay, we may report you as delinquent.

©2021 Bank of America Corporation. All rights reserved.

2. Within 90 days of receiving your letter, we must either  
correct the error or explain to you why we believe the  
bill is correct.

While we investigate whether or not there has been an error:

• We cannot try to collect the amount in question, or  

report you as delinquent on that amount.

• The charge in question may remain on your statement,  
and we may continue to charge you interest on that  
amount.

• While you do not have to pay the amount in question,  
you are responsible for the remainder of your balance.

• We can apply any unpaid amount against your Total  

Credit Line.

After we finish our investigation, one of two things will happen:

•

•

If we determine there was a mistake: You will not have  
to pay the amount in question or any interest or other  
fees related to that amount.

If we do not believe there was a mistake: You will have  
to pay the amount in question, along with applicable  
interest and fees. We will send you a statement of the  
amount you owe and the date payment is due. We may  
then report you as delinquent, including to credit  
reporting agencies, if you do not pay the amount we  
think you owe.

If you receive our explanation but still believe your bill is wrong, you 
must write to us within 10 days telling us that you still refuse to 
pay. If you do so, we cannot report you as delinquent without also 
reporting that you are questioning your bill. We must tell you the 
name of anyone to whom we reported you as delinquent, and we 
must let those organizations know when the matter has been 
settled between us.

If we do not follow all of the rules above, you do not have to pay 
the first $50 of the amount you question even if your bill is correct.

Your Rights If You Are Dissatisfied With Your Credit Card 
Purchases

If you are dissatisfied with the goods or services that you have 
purchased with your credit card, and you have tried in good faith to 
correct the problem with the merchant, you may have the right not 
to pay the remaining amount due on the purchase.

To use this right, all of the following must be true:

1. The purchase must have been made in your home state  
or within 100 miles of your current mailing address,  
and the purchase price must have been more than $50.  
(Note: Neither of these are necessary if your purchase  
was based on an advertisement we mailed to you, or if  
we own the company that sold you the goods or  
services.)

2. You must have used your credit card for the purchase.  
Purchases made with cash advances from an ATM or  
with a check that accesses your credit card account do  
not qualify.

3. You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with 
the purchase, contact us in writing at:

Bank of America
P.O. Box 672050
Dallas, TX 75267-2050

While we investigate, the same rules apply to the disputed amount 
as discussed above. After we finish our investigation, we will tell 

8