Filing # 200777674 E-Filed 06/18/2024 11:00:30 AM
`
`ACCEPTED: DUVAL COUNTY, JODY PHILLIPS, CLERK, 06/20/2024 11:35:17 AM
`
`

`

`records concerning the credit accountare now part ofPlaintiff 's business records. Plaintiff
`maintains quality control and verification procedures as part of the boarding process to
`ensure the accuracy of the boarded records.
`It is the regular business practice of Plaintiff
`to integrate the predecessor in interest’s records into Plaintiff 's business records, and to
`rely upon the accuracy of those boarded records. These predecessorin interest’s records
`are integrated and relied upon by Plaintiff's business records.
`
`5. The credit account wasassignedto the Plaintiff for value. Plaintiff is the owner and holder
`
`of the debt. A copy ofthe chain oftitle and/orbill of sale to the Plaintiff is attached hereto.
`6. The complete chain oftitle, with the date of each sale or assignment ofthe accountis as
`follows:
`
`Original Creditor: WebBank (SOLD: 06/21/2023)
`Creditor: Petal Card, Inc (SOLD: 06/21/2023)
`Current Creditor: Crown Asset Management, LLC
`
`7. The business record attached, which I have reviewed,is a true and correct printout that is
`part of the business records described above.
`It shows that MONICA HARRELL
`(hereinafter referred to as “Defendant(s)”) made purchases and or received cash advances
`utilizing the credit account and received regular monthly accountstatements.
`8. Defendant(s) did not
`timely object to the account statements,
`thereby expressly or
`impliedly agreeing that the balance duereflected on the final statement. A copyofthe Final
`Account Statementis attached hereto.
`
`9, The following figures and totals accurately represent the amounts due and owing on this
`subject debt:
`
`Principal or Charge off due on Debt
`Interest
`
`Total due to the Plaintiff as of the date of
`this affidavit
`
`$1824.74
`$0.00
`
`$1,711.85
`
`FL_AOI-RTL-AS
`
`

`

`FURTHER AFFIANT SAYETH NOT,
`
`CROWN ASSET MANAGEMENT, LLC
`
`bp bACC
`
`By:
`
`Printed Name: Maria Popovici
`
`Title: Legal Document Specialist
`Date:
`aA 23 20 2
`
`20MbyMaria
`SWORN TOand subscribed before me on Coc. LA8
`Legal Doamirt
`Cronacs,
`. as an
`ofCROWN ASSET
`MANAGEMENT, LLC. He/she (Is personally known to me or ( ) produced
`
`as identification.
`
`—NiaQovenewaMace
`My Commission expires: 4 lhaace G
`
`Notary Public
`
`Matter No. 514772
`
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`Py
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`Ay WNE Ww Men,
`So estionnd
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`FL_AOJ-RTL-AS
`
`

`

`EXHIBITS
`
`Matter #: 514772
`
`FL_S_EXH-CCE
`
`

`

`
`
`% Petal—credit card statement goreaa
`
`.
`
`Petal 1 VISA® Credit Card
`MONICA HARRELL
`
`PaymentInformation
`
`New Balance
`$
`1,711.85
`
`Payment Due Date
`05/26/202
`26/2023
`
`Minimum Payment Due
`‘peial
`2
`
`Late Payment Warning:
`If we do not receive yourfull minimum payment by the Payment Due Date above, you
`may haveto pay aninitial late fee of $29 (or $40 for any subsequent late payments to
`your account) and you will continue to accrue interest on your unpaid balance.
`
`Minimum Payment Warning:
`Ifyou make only the minimum payment each period, you will pay morein interest andit
`will take you longer to pay off your balance.
`
`Bill Period: 04/01/2023 - 04/30/2023
`
`Account Summary
`Previous Balance
`Pavinwnte
`OtherCredits
`
`Purchases
`
`Interest Charged
`Fees Charged
`
`New Balance
`
`Credit Limit
`Credit Limit Available
`
`$1,625.37
`|
`$0.00
`-
`$0.00
`
`t
`
`$0.00
`
`s ee
`*
`$40.00
`
`$1,711.85
`
`$1,300.00
`($411.85)
`
`Statement Closing Date
`
`04/30/2023
`
`If you make no additional charges©You will pay offthe balance=And you will end up Days in Billing Cycle 30
`
`
`
`
`using this card and each month
`shownonthis statement in
`paying an estimated
`you pay
`about
`total of
`
`Past Due Amount
`
`$502.52
`
`Only the minimum payment
`
`9 year(s)
`
`$3,740.99
`
`* See reverse for ImportantInformation
`
`STAT
`
`Syeurt)
`
`$2,684.52
`(Savings= $1,056.47)
`
`IF you would like information about credit counseling services, call: (855) 697-3825
`
`- Pay or manage your account on www.petalcard.com or on our mobile app.
`- Toll Free: (855) 697-3825 Intemational: (917) 267-2582
`- Send all check payments with the Payment Couponto: P.O. Box 1150 New York, NY 10008-1750.
`
`CARD REFERENCE NUMBERSa
`
`Petal Payment coupon
`
`a ®
`
`Card Account Number
`SaaS
`
`Statement Date
`05/01/2023
`
`New Balance
`$1,711.85
`
`Minimum Amount Due
`$600.23
`
`Payment Due Date
`05/26/2023
`
`How to Pay by Check:
`
`Please send us this portion of your statement with your check or moneyorder. If you are not using the Payment Coupon,please include your Card Reference Number
`325022949151 when paying separately with a check. To be credited as an on time payment, checks must be received by 5:00 pm ET on the due date. Please allow at
`least 5-7 business days for dellvery and processing (holidays may result In processing delays).
`
`MONICA HARRELL
`
`Jacksonville, FL 32277 USA
`
`Amount Enclosed §
`
`PLEASE SEND ALL CHECKS TO:
`Petal
`
`New York, NY 10008-1150
`
`
`Page:1/3
`
`

`

`Petal 1 VISA® Credit Card
`
`What To Do If You Think You Find A Mistake On Your Statement:
`If you think there is an eroron your statement, you can notify
`us by writing to Petal Card,
`Inc., MSC - 166931, P.O. Box 105168, Atlanta, GA 30348-5188,
`Attn:Billing Dispute. You also may call us toll-free at 1-855-687-3828 or send an email to
`BURPOMIpstalcarccom with the subject line "DISPUTE".
`
`In your written or emailed dispute, give us the following information:
`* Account information: Your name and last four digits of your account number.
`® Transaction information: The dollar amount(s) and date(s) of the suspacted error.
`* Description of problem:If you think there is an omor on your bil, describe what you
`believe Is wrong and why you belleve it is a mistake.
`You must contact us within sixty (60) days after the emor appeared on your statement. You
`mustnotify us of any potential errors in writing or by emall, You may call us, but if you do, we
`are not required to investigate any potential errors and you may have to pay the amountin
`question. We will notify you within thirty (30) days of our receipt of your written or emailed
`dispute. While we investigala whether or not there has been an error, the following are true:
`* We cannot try to collect the amount in question, or report you as delinquent an that
`amount. The charge in question may remain on your statement, and we may continue to
`charge you interest on
`that amount. But, ifwe determine that we made a mistake, you will
`not have to pay the amount in question or any interest or other fees relatedto that
`amount.
`
`How can | avoid paying Interest Charges on purchases?
`Information about your Petal Card
`Your due date is at least 25 days from the atatament closing date. if you pay your account
`Making a payment
`full each billing period by the date and time due, no intereat will be charged. Additionally, if
`either (a) you pald the New Balance stated on your current billing statement in full by the
`You may make payment in several ways:
`Payment Due Dale shown on thatbilling statement or (b) your New Balance on your current
`Online through the Petal website or the Petal mobile applications for approved electronic
`billing statementis zero or 2 credit (less than zero), then you will not be charged any interest
`devices, calling the telapnons number |isted on the front of this statement and providing the
`during the currentbilling period.If youpaythe New Balance on your currantbilling statement
`by the Payment Due Date shown on that
`billing statement, we wil also not impose interest
`required payment information, and sending a check to Petal Card Inc. by mail to the address
`charges on new purchases or fess that fret appear on the next billing statement. Certain
`on the front of this statement with the payment coupon or the last four digits of your account
`promotional offers may allow you to avoid paying interest changes in othersituations.
`number. All payments must be in US dollars in the form of a bank transfenACH or a chack
`from a US bank account. You agree not to send Us any post dated checks. If you do, we may
`deposit it immediately upon receipt, despite the later date on tha check. We will not accept
`any payments made in cash. If payment dose not conform to these payment Instructions,
`crediting will be delayed or may be refused, and additional charges may be imposed.
`When will you crodit my Payment?
`For online payments made on the Petal website or mobile application, or payments made
`over the phone, payments will be credited as of the day the payment is made, as long
`asit is
`made by 6 p.m. Eastem Time. Payments received after the applicable cul-off time
`will be
`treated as received as of our next business day. For mai or olher payments, payments will be
`credited as of the business day we receive it, as long as it Is received by 5 p.m. Eastem
`Timé. Please allow al least seven (7) business days for mail delivery. Maiied payments
`received by us at
`other location or payments in any other form may not be credited as of
`the day we receive
`them. Payments received after the applicable cut-off time will be treated
`as received as of our next business day.If the payment due date falle on a weekend or
`holiday, we will treat any payment received by the applicable cut-off time in accordance with
`_— payment instructions on our next business dayas being received by us on the due
`Account Information Reported to Credit Bureaus
`We may report information about your account to credit bureaus. Late payments, missed
`payments or other defaults on your account may be reflected in yourcredit naport. You have
`the nghtto dispute the accuracy ofinformation we have reported.
`IF you ppt pellnleirl
`about your account that we have reported to a credit bureau is incorrect, you can notify us by
`writing to Petal Card, inc, MSC - 166031, P.O. Box 105166, Atlanta, GA30348-5168, Atin:
`.
`Credit Reporting. Please include your name, address, phone number, and 8 brief description
`of the isgue, You also may call us toll-free at 1-855-697-3825 or send an email to
`While you do not haveto pay the amount in question until we aand you a notice about the
`
`support@patalcartcomwith the subject line "CREDIT REPORTING ISSUE” outcome of our investigation, you are responsible for the remainder of your balance.
`We can applyan unpaid amount against your credit limit. Withinee (90) days ofour
`You my; et any time, pay the full amount you owe without incurring anyadditional
`receipt of your written or emailed diepute, we will send you a written notes via U.S. Post
`ges.
`and email, explaining either that we corected the error (to appear on your next statement)
`or the reasons why we believe the bill is correct.
`Authorization to convert your check to electronic transfer debit
`When you provide a check or check information to maka a payment, you authonze us 1a use
`Information from the check to make a one-time ACH or other oectronic transfer from your
`Your Rights If You Are Dissatisfied With Your Purchase:
`bank account. We may aleo process i as a check transaction. Funds may be withdrawnfrom
`If you are dissatisfied with the goods or services that you have purchased with yourcredit
`your bank account as soon as the same day we process your payment.
`card, and
`heve tried in good faith to coract tha problem with the merchant, you may
`Disputed Payments
`have the
`Jife4 tli lealais guliaeamaiaiiaied uinaie To use this right, the
`following must be tne:
`Any check or other form of payment that you eend ue for less than the full balance due thatis
`marked “paid in full" or contains a similar notation, or that you otherwise tender in full
`4, The purchase must have been made In your home state or within 100 miles of your
`satisfaction of a disputed amount, must be sent to Peta! Card, Inc., MSC - 166037, P.O. Box
`current mailing address, and the purchase price must have bean more than $50. (Note:
`105165, Atanta, GA 30348-5166, Atin: Disputed Payments. We reserve all our rights
`Neither of these are necessary if your purchase was based on an advertisement we made
`regarding these paymente (o.g., if ft is determined that there ia no valid diapute or if any such
`{o you, or if we own the company that Bold you the goode or services)
`check is received at any other address, we may accept the check and you will still owe any
`2. You musi have used your credit card for the purchase. Purchases made with cash
`remaining balance). We may refuse to accept any such payment by returning it to you, not
`advances from an ATM or with a check that accesses your cradit card account do not
`cashing ft or destroyingit. All other payments that you make should be set to the regular
`qualify.
`Payment eddreds shown on thie siatement.
`3. You must not yet have fully paid for the purchase.
`How do you calculate the Interest Charges?
`{fall of the criteria above are met and you are still dissatisfied with the purchase, you can
`notify us by writing to MSC - 166931, P.O. Box 105166, Atianta, GA 30348-5168,Atin:
`We use a method called Average Daily Balance (including new purchases). Please refer to
`your Cardholder Agreement for more detalled Information, but generally:
`Purchase Dissatisfaction. While we
`, the same rules apply to the disputed amount
`a6 discussed above. After we finish our in
`we will tell you our decision. At that
`4. The total interest charged for a billing period, except for variatians caused by rounding,
`point, if we think you owe an amount and youdonot pay, we may report you as delinquent.
`equals: Average Daily Balance ("ADB"), multiplied by Daily Periodic Rate ("DPR"),
`multiplied by the number of days in the billing period.
`2. We calculate the ADB by calculating the daily balance for each day of the billing period
`(first, taking the beginning balance of your account on that day, then adding in naw
`transactions, then adding any periodic interest charge on the previous day's balance, then
`adding any feas charged that day, then subtracting any payments and credits on that day
`(note, we teat any net credit balance as a zero balance) and then adding the daily
`balances together for each day of the billing period, then dividing this sum by the number
`of days in the billing period.)
`3. We calculate the DPR by taking your APR and dividing the APR by 365.
`How can my Variable APR change?
`Your APRe wil vary based on the Prime Rate as reported In the Wall Street Journal. For
`more detailed information about variable rates, see your Candholier Agreement
`
`How do! Close my Account?
`You may contact Customer Support anytime at 1-896-697-2826to pecjuatthat we close your
`account You wil still be responsible to pay any ovlstanding balance
`New York State Residents
`New York residanta may contact the New York State Department of Financial Services to
`obtain a comparative listing of credit card rates, fees, and grace periods. Contact the Naw
`York State Department of Financial Services:
`or visit wiw.dts.ny.gov.
`The Petal credit card is issued by WebBank Your account is serviced by Petal Card, Inc.
`
`Page:2/3
`
`

`

`§ Petal Account Activity
`
`cas MONICA HARRELL Card ending in *Hil
`
`Transaction Date
`Posted Date
`Payments and Adjustments
`
`Description
`
`Petal 1 VISA® Credit Card
`
`MONICA HARRELL
`
`Card Ending in
`
`Bill Period: 04/01/2023 - 04/30/2023
`
`Amount(USD)
`
`Purchases and Adjustments
`
`Total Payments and Adjustments is $0 for card ending in Mill
`
`Total Purchases and Adjustments is $0 for card ending in Ei
`
`Fees Charged
`
`04/28/2023
`
`Interest Charged
`
`05/01/2023
`
`04/26/2023
`
`Late Payment Fee (Assessed for current cycle)
`
`$40.00
`
`Total Fees Charged for this Period $40.00
`
`05/01/2023
`
`Interest Charge
`
`$46.46
`
`Total Interest Charged for this Period $46.48
`
`2023 Totals Year-to-Date
`
`Total interest Charged in 2023
`$208.09
`
`Interest Charge Calculation
`
`Total Fees Charged in 2023
`$160.00
`
`Type of Balance
`
`Annual Percentage Rate (APR)*
`
`Balance Subject to Interest Rate
`
`Total Interest Charged
`
`Purchases
`
`34.24% (v)
`
`$1,651.68
`
`$46.46
`
`“Your APR is your annual interest rate, and is variable and can change based on the Prime Rate. Yourinterest charges are
`calculated using the Average Dally Balance (including new purchases) method.
`
`(v) = Variable
`
`TotalInterest Charged = Interest Charged on Average Daily Balance + Interest Adjustments
`
`If the payment for the full statement balance is
`recelved on of before 5pm ET on the due date,
`there will be no interest charges on transactions
`that occurred in this billing cycle. If you do not
`make this payment, you may be subject to
`additional interest charges.
`
`Petal
`P.O. Box 1150 New York,
`NY 10008-1150
`
`CustomerService
`support@petalcard.com
`Toll Free: 1-855-697-3825
`
`Page:3/3
`
`

`

`Petal 1 VISA® Credit Card
`
`Important Disclosures
`
`Rates, fees, and other important information about the Petal 1 VISA® Credit Card ("Card") are set
`forth in these Important Disclosures. The customized version of these Important Disclosures (the
`"Customized Disclosures") that we provide you priorto your first use of the Card orthe related credit
`card account are part of the Petal 1 VISA® Credit Card Cardholder Agreement("Agreement’).
`
`
`Interest Rates and Interest Charges
`
`
`Annual Percentage
`1 9.99% to 29.49% when you open your account, based on
`Rate (APR) for
`Purchases
`your creditworthiness. After that, your APR will vary with the market
`
`based on the Prime Rate.
`Howto Avoid Paying
`Your due date is at least 25 days after the close of eachbilling cycle. We |
`Interest on Purchases
`will not charge you any Interest on purchasesif you pay your entire
`balance by the due date each month.
`To learn more aboutfactors to consider when applying for or using
`For Credit Card Tips
`from the Consumer
`a credit card, visit the website of the ConsumerFinancial Protection
`Financial Protection
`Bureau at http://www.consumerfinance.gov/learnmore.
`Bureau
`
`
`
`
`
` Annual Fee
`
`
`Transaction Fees
`
`Foreign Purchases
`
`Penalty Fees
`
`
`- Late Payment
`
`
`
`- Returned Payment
`
`
`Upto $40
`$29
`
`None
`
`How WeWill Calculate Your Balance:
`Weuse a method called "average daily balance (including new purchases)." See the Agreementfor
`more detail.
`
`Variable APR; Daily Periodic Rate:
`The APR on your Accountwill be determined eachbilling cycle by adding a margin to the Prime
`Rate (U.S.) as published in the Money Rates section of The Wall Street Journal (the "Index") on the
`25th day of the month or the following business day.If the Prime Rate changes, your newratewill
`take effect on your next billing period. The margin which will be added to the Prime Rate for
`purchasesis 16.74% - 26.24%. As of September 15, 2020 the Prime Rate was 3.25%.
`
`Credit Limit:
`Yourinitial credit limit will be between $500-$5,000, based on your creditworthiness.
`
`Arbitration Clause; Notices: PLEASE REVIEW THE ARBITRATION CLAUSE AND NOTICES
`SET FORTHIN EXHIBITS A-C OF THE AGREEMENT.
`
`

`

`Petal 1 VISA® Credit Card
`Important Disclosures
`
`Rates, fees, and other important information about the Petal 1 VISA® Credit Card ("Card") are set
`forth below. These Important Disclosures are part of your Petal 1 VISA® Credit Card Cardholder
`Agreement("Agreement").
`
`Interest Rates and Interest Charges
`Annual Percentage
`Rate (APR)for
`Purchases
`How to Avoid Paying
`Interest on Purchases
`
`29.49%
`This APR will vary with the market based on the Prime Rate.
`Your due date is at least 25 days after the close of eachbilling cycle. We
`[will not charge you any Interest on purchasesif you pay your entire
`balance by the due date each month.
`To learn more aboutfactors to consider when applying for or using
`a credit card, visit the website of the ConsumerFinancial Protection
`from the Consumer
`Bureauat http://www.consumerfinance.gov/learnmore.
`Financial Protection
`Bureau
`
`
`
`Annual Fee
`Transaction Fees
`Foreign Purchases
`Penalty Fees
`‘ Late Payment
`- Returned Payment
`
`Upto $40
`$29
`
`How WeWill Calculate Your Balance:
`We use a method called "average daily balance (including new purchases)." See your Agreement
`for more details.
`
`Billing Rights:
`Information on your rights to dispute transactions and how to exercise thoserights is providedin
`your Agreement.
`
`Variable APR; Daily Periodic Rate:
`The APR on your Accountwill be determined eachbilling cycle by adding a margin of 26.24% (the
`"Margin") to the Prime Rate (U.S.) as published in the Money Rates section of The Wall Street
`Journal (the "Index"), which was 3.25% as of the end of the preceding calendar month. The current
`APR of 29.49% correspondsto a daily periodic rate of 0.080795%.
`
`Arbitration Clause; Notices: PLEASE REVIEW THE ARBITRATION CLAUSE AND NOTICES
`SET FORTH IN EXHIBITS A-C OF THE AGREEMENT.
`
`

`

`Petal 1 VISA® Credit Card
`
`CardholderAgreement
`
`EXHIBIT A TO THE AGREEMENT IS AN ARBITRATION CLAUSE. UNLESS YOU ARE A “COVERED
`BORROWER” PROTECTEDBY THE MILITARY LENDING ACT (THE “MLA”) OR UNLESS YOU PROMPTLY
`REJECT THE ARBITRATION CLAUSE, IT WILL HAVE A SUBSTANTIAL EFFECT ON YOUR RIGHTSIN THE
`EVENT OF A DISPUTE, INCLUDING YOUR RIGHT TO BRING OR PARTICIPATEIN A CLASS PROCEEDING.
`This Agreement governs the Petal
`1 VISA® credit card account (“Account”) and related credit card (“Card”)
`provided by WebBank, a Utah-chartered, FDIC-insured bank located in Salt Lake City, Utah (the “Bank”). This
`Agreement includes the Important Disclosures we provided to you after approving you for the Account (the
`“Customized Disclosures’), the Arbitration Clause attached as Exhibit A, the Billing Error Rights Notice attached
`as Exhibit B, the State Notices attached as Exhibit C, your credit card application, and, as applicable, the Privacy
`Policy, and Risk-Based Pricing Disclosure. In this Agreement, the words “we,” “us,” and “our” mean the Bank,its
`successors and assigns, and, for purposes of the Arbitration Clause,
`the Related Parties identified in the
`Arbitration Clause. The words “you,” “your”, “yours” and “Cardholder” mean the person who appliedfor, received
`and accepted the Account from the Bank.
`1.
`i
`. This Agreement becomeseffective and legally binding when you activate your Card
`by following the instructions on the Activation page of www.petalcard.com or a Petal mobile application ("Petal
`Website”). You and we agree to comply with, and be boundby, this entire Agreement. You should retain and
`carefully review this entire Agreement, and sign your Card before using it. By completing your application for the
`Account (and unless you promptly reject the arbitration clause or are a “covered borrower” protected by the
`Military Lending Act), you agree to the Arbitration Clause evenif you do not use the Accountor the Card.
`2. Purchases. You may use your Account to purchase or lease goods or services (each, a “purchase”) by
`presenting your Card or providing to participating merchants and establishments that honor the Card your Card
`number and additional information by any other means (for example, over the phone,online or through a mobile
`app). We will not be liable to you (or anyone else) if any merchant or other person cannotor will not process a
`purchase permitted under this Agreement. Unless prohibited by applicable law, we may from time to time limit the
`type, number and dollar amount of any purchase, even if you have sufficient available credit to complete the
`purchase, and may terminate or suspend your use of the Card or the Account, with or without notice to you before
`or at the time we take such action. Cash advances and balancetransfers are not available under this Agreement.
`
`
`3.ProhibitedUsesofAccount.You agree that you will only use the Account for personal, family and household
`purposes and will not use the Account for any unlawful purpose or for the purpose of paying us onthis or any
`other form of credit account you may have with us. If you use your Card for any such purpose, we may declare
`you to be in default under this Agreement and we mayblock such transactions and/or terminate your Account, but
`you still will be liable to us for all charges relating to such transactions and all other transactions on your Account
`at the time it is closed. Further, you agree that you will not allow any other person to use the Card or Account
`without our consent. However, your breach of any of these promiseswill not affect orlimit yourliability to us with
`respect to your purchases.
`If you authorize or allow any person to use your Account, such authorization will be
`deemed to extend to all purchases by such person, evenif not intended by you, and will continue until you have
`taken all steps necessary to prevent any further use of the Account by such person, evenif you have advised us
`that such personis no longer authorized to use the Account.
`
`
`
`(a) We have disclosed yourinitial credit limit in your approval email. We will disclose your then-current credit
`limit and available credit on each monthly statement we send you. We mayincrease or decrease yourcreditlimit
`at any time, on our owninitiative or at your request(if we accept such requests). We may also close your Account
`or suspend your ability to use the Accountat any time. Wewill provide any notice required by applicable law if we
`take any adverse action on your Account.
`(b) At any time, your available credit equals the excess (if any) of your credit limit over your outstanding
`Account balance (including principal, fees, and interest charges). You agree not to attempt any purchasethat
`exceeds your available credit. For purposes of determining your available credit, we do not give effect to any
`
`

`

`paymentprior to the time we determine that the payment has been madewith sufficient funds. Depending on your
`payment method, this may take up to 20 days. We are not required to approve any purchaseif the amountof the
`purchase exceeds your available credit but we may authorize and pay any such purchase in our absolute
`discretion. Whenever the outstanding balance of the Account exceeds yourcredit limit, you agree to pay us the
`difference on demand unless and to the extent that we have reduced yourcredit limit below your pre-existing
`balance prior to the reduction.
`
`6,MonthlyStatements. We will send you a monthly statement shortly after the end of each monthly billing cycle
`
`with any activity, fee or interest charge or an ending debit or credit balance in excess of $1.00. However, we are
`not obligated to send you a monthly statementif we deem your Account to be uncollectible or applicable law does
`hot require us to send you a monthly statement for other reasons. Your monthly statements will show, among
`other matters, the outstanding balance at the start and endof thebilling cycle (that is, the “previous balance” and
`“new balance,” respectively); purchases; payments, credits and adjustments;
`interest charges and fees: your
`credit limit and available credit; and the minimum payment due and payment due date.
`
`
`
`7.InterestCharges.
`
`(a) General. We use the "average daily balance (including new purchases)” methodto calculate your interest
`charges. This meansthat, eachbilling cycle, we determine your interest charges by multiplying the average daily
`balance (which is shown on your monthly statements as the “balance subject to interest rate”) times the daily
`periodic rate and then by multiplying this amount by the numberof daysin the billing cycle.
`(b) Grace Period on Purchases.
`
`(i) If your Account balance is $0 at the beginning of a billing cycle or you pay the entire Account balance
`as of the beginning ofa billing cycle by the payment due date thatfalls in suchbilling cycle, you get a "grace
`period” and will not be charged any interest charges for such billing cycle.
`(ii) If you do not get a grace period for a billing cycle but you got a grace period for the immediately
`preceding billing cycle, we will not charge interest charges on purchases that were outstanding during such
`preceding billing cycle to the extent such purchases are paid by the payment due datethatfalls in the current
`billing cycle.
`(iii) If you get a grace period on purchasesfora billing cycle on account of a payment that is dishonored
`or reversed in the next billing cycle or a credit that is reversed in the next billing cycle due to the resolution of a
`billing dispute, we will charge you in the next billing cycle the interest charges you avoidedin the priorbilling cycle
`due to the dishonored or reversed paymentor credit.
`
`(c) Interest Rates.
`
`(i) The daily periodic rate equals the APR divided by 365,truncated at the 11th decimalplace.
`{ii} The APR each_billing cycle equals the sum of the Margin shown on your Customized Disclosuresand
`the WSJ Prime Rate, determined as of the second business day (not weekendsor federal holidays) of the same
`month in which yourbilling cycle closes (the “Determination Date”). Accordingly, the APR (and daily periodic rate)
`may vary. The "WSJ Prime Rate”is the highest U.S. Prime Rate as published in the “Money Rates” section of The
`Wall Street Journal on the Determination Date (or if The Wall Street Journal does not publish such rate on such
`day, the latest prior day it does publish such rate). (If The Wail Street Journal stops publishing the U.S. Prime
`Rate in its “Money Rates” section, then we may substitute another index and margin,
`in our sole discretion,
`subject to applicable law.) Notwithstanding the foregoing, the APR and daily periodic rate will never exceed the
`maximum rates permitted by applicable law.
`
`if and when the APR increases, more
`(iii) Unless you qualify for a grace period (see subsection (b)),
`interest chargeswill accrue. This will result in higher and/or more paymentsif you pay the minimum payment due
`each month. Unless you qualify for a grace period,
`if and when the APR decreases,less interest chargeswill
`accrue. Thiswill result in lower and/or fewer paymentsif you pay the minimum payment due each month.
`(d) Balances Subject to Interest Rate.
`
`(i) The average daily balance (also known as the balance subject to interest rate) equals the sum of the
`closing daily Account balances for each day ofthebilling cycle, divided by the numberof daysin thebilling cycle.
`(ii) If you get a grace period for a billing cycle (see subsection (b)(i)), the Account balanceis treated as $0
`for each dayin the billing cycle (and the average daily balance is $0). Otherwise,the closing balance for each day
`in the billing cycle is computed as follows:
`
`

`

`(A) For each day (including the first day of the billing cycle), we start with the prior day's closing
`balance, if any.
`
`(B) For the first day of the Billing cycle, if you received a grace period for the immediately preceding
`billing cycle, we deduct all payments and credits applied to purchases and posted by the payment due date that
`falls within the current billing cycle.
`
`(C) For each day in the billing cycle (including the first day of the billing cycle), we add any new
`purchases posted to your Account, we add the interest charges from the prior day (the prior day’s closing balance
`times the daily periodic rate), add any fees charged that day, and subtract any payments or credits. However, we
`do not subtract a second time any payments or credits that have already been subtracted in step (B) above. (This
`method results in the daily compoundingof interest charges.)
`
`(D) We treat any negative daily balance as $0.
`
`(e) Interest Accrual Periods. We charge interest charges overthe following periods:
`(i)
`If you get a grace period for the billing cycle in which the purchase is posted to the Account (the
`“Purchase Cycle”) and for the nextbilling cycle (the “Next Cycle”), we charge nointerest chargesatall.
`(ii) If you get a grace period for the Purchase Cycle but not for the Next Cycle, we charge interest charges
`from the first day of the Next Cycle through the earlier of: (1) the day the purchaseis repaid in full; or (2) the day
`before the beginning of thefirst billing cycle that comes after the Next Cycle and for which you get a grace period
`(the "Interest End Date”).
`
`(iii) If you do not get a grace period for the Purchase Cycle, we charge interest charges from the day the
`purchase is posted to the Account through the Interest End Date.
`
`8. Fees. Subject to applicable law, including the federal Truth in Lending Act and Regulation Z, you agree to pay
`the following fees:
`
`(a) Penalty fees.
`
`(i) Each time we do not receive the minimum payment due in full within 3 days of the payment due date,
`we will charge you a late fee of $29.00 if we have not charged (or waived) a late fee within the six immediately
`preceding billing cycles. However, we will charge a late fee of $40.00 if we have already charged (or waived) a
`late fee within the six immediately preceding billing cycles. We will never charge a late fee exceeding the
`minimum payment duethatis late.
`
`(ii) Each time a payment on your Accountis returned or reversed for any reason or we must return any
`check or instrument you send us because it is not signed or is otherwise incomplete, we