Preview
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Card Agreement Guide
This Guide will help you easily identify sections of the Card Agreement and give you a brief overview of the contents of each section. This is not
intended to be a complete summary of the Card Agreement’s contents, and we encourage you to read your entire Card Agreement, including the
arbitration provision, before you use your Account.
1 8
DEFINITIONS CREDIT REPORTING
Lists the meanings of particular phrases and terms Describes what information we provide about you to
used in the Card Agreement. credit reporting agencies, and how to dispute items on
your report. This section also explains how we use
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information we get about you from those agencies.
YOUR ACCOUNT
9
Describes some of your responsibilities for using
your Account. ACCOUNT INFORMATION, INFORMATION
SHARING & COMMUNICATIONS
Explains that your personal information we use to
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manage your Account should always be up to date.
ANNUAL PERCENTAGE RATES
Also notes that we share information about you and
& INTEREST CHARGES your Account. In addition, this section describes how
Shows how we calculate interest rates and how that we may contact you.
affects your Account balance.
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TRANSACTIONS
FEES & FOREIGN CURRENCY CONVERSION Provides important information about merchant credits,
Describes the fees that can be applied to your Account, recurring Transactions and card refusals.
including late fees, returned payment fees, as well as
foreign transaction fees for Purchases not in U.S. dollars.
11
ARBITRATION
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Explains that you cannot go to court, have a jury trial or
PAYMENTS initiate or participate in a class action if you have a
Shows how your monthly Minimum Payment Due is dispute with us. Instead, this provision tells you that the
calculated, tells you how we apply your payments to dispute must be resolved by a professional arbitrator,
balances, and gives you certain instructions for making not a judge or jury. This section also explains how
payments (and tells you the possible consequences of arbitration works and some of the differences between
not following those instructions). resolving a dispute in arbitration and resolving one
in court.
6 12
AUTHORIZED USERS
AGREEMENT & BENEFIT CHANGES
Describes an Authorized User’s rights and your
Explains that we can make changes to the Card
responsibility for that user. Also describes what
Agreement and your card benefits and features.
information we can share about you and your
Authorized User.
13
MISCELLANEOUS
7
Explains subjects that aren’t included in
DEFAULT, CLOSING OR SUSPENDING previous sections.
YOUR ACCOUNT
Tells you when we may require immediate payment of
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your total Account balance, and explains when we may
YOUR BILLING RIGHTS
close or suspend your Account, and when you may close
Explains your billing rights, which include how to
your Account.
address possible statement mistakes and your rights
if you’re not satisfied with a Purchase.
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Card Agreement
This Card Agreement (Agreement) is your contract with us.
The Facts about Interest and Fees document (Fact Sheet) is part of this Agreement. The Fact Sheet shows important information about your Account,
such as your annual percentage rates and certain fees. Any amendments to this Agreement also are part of this Agreement.
Please read all parts of this Agreement, including the arbitration provision, and keep it for your records.
Note: Throughout the Agreement are examples, helpful tips and additional explanations
that will make the Agreement easier to understand.
1
DEFINITIONS
Account – Your Citi Account. Citi Flex Pay – Eligible Transactions that you select to be paid under a
Adjusted New Balance – Your New Balance less any Citi Flex Plan Citi Flex Plan.
balance. Citi Flex Plan – A feature on your Account to pay Citi Flex Loans or Citi
Annual Percentage Rate (APR) – A rate, shown as a percentage, used Flex Pay amounts in fixed payments over a defined number of Billing
to calculate interest on the balance on your Account. Periods subject to a Citi Flex Plan APR.
Authorized User – Any person you allow to use your Account with a Consumer Reporting Agency – An organization, such as Experian,
Card we provided with that person’s name. Equifax and TransUnion, that compiles credit information for the purpose
of generating consumer credit reports. It’s also known as a “credit
Balance Transfer – Use of a Balance Transfer offer, including use of a bureau” and a “credit reporting agency.”
check that accesses your Account for any transaction, or the transfer of
a balance from another credit account to your Account. Include and including – These terms mean “include [or including]
without limitation.”
Billing Period – The period of time between each date when we create
a statement for your Account. A Billing Period is usually 28 – 33 days. Late Payment – A payment is late if you don’t pay at least an amount
For each Billing Period, your statement will show any Transactions, other equal to the Minimum Payment Due minus any Overlimit Amount by the
charges, payments and other credits posted during that Billing Period. payment due date.
Business Day – Monday through Friday, excluding federal holidays. New Balance – The total amount you owe us at the end of each Billing
Period. This amount is shown on each statement under the heading
Card – One or more cards or other devices (including an account “New Balance.” We explain how we calculate the New Balance below.
number) used to access your Account to obtain credit.
Overlimit Amount – The amount by which your Account balance
Card Networks – Organizations, such as Mastercard, Visa and exceeds your credit limit in any Billing Period.
American Express, that facilitate the payment process between a
cardmember, merchants and a card issuer. Purchase – Use of your Card to buy goods and services. Balance
Transfers and Cash Advances are not Purchases.
Cash Advance – Use of your Card to get cash, including foreign
currency, or for what we consider a cash-like transaction. Examples Returned Payment – A payment that isn’t honored by your
include using your Card for: ATM and teller withdrawals, wire transfers, financial institution.
money orders, traveler’s checks, lottery tickets, gaming chips and other Transaction – A Balance Transfer, Cash Advance, Purchase or Citi Flex
methods used for gambling, wagers and other betting transactions. A Citi Plan, as applicable.
Flex Loan is not a Cash Advance. we, us and our – Citibank, N.A.
Citi Flex Loan – Funds provided to you by check or by direct deposit you and your – The cardmember who opened the Account.
that you select to be charged to your Account and repaid under a Citi
Flex Plan. Balance Transfers and Cash Advances are not Citi Flex
Loans.
You’ll find definitions of other terms within this Agreement.
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YOUR ACCOUNT
Your Account use is subject to this Agreement. You must pay us for Citi Flex Plan. Your ability to create a Citi Flex Plan will depend on the
all amounts due on your Account, including: amount of your available credit, creditworthiness, and other factors. We
1. Transactions you make, even if you didn’t present your Card or sign may limit the number of active Citi Flex Plans you can have and we may
for the Transaction; change this number at any time. There are two ways to create a Citi Flex
Plan – Citi Flex Pay and Citi Flex Loan.
2. Transactions an Authorized User makes;
With Citi Flex Pay, you can pay for eligible Transactions under a Citi
3. Transactions that other people make if you or an Authorized User let Flex Plan. An eligible Transaction for Citi Flex Pay must be a Purchase of
them use your Account; and at least a specified dollar amount and does not include a Purchase of
4. Any fees and interest charges on the Account. cash or cash equivalent, a Purchase subject to Foreign Transaction Fees
or any fee owed to us. Other exclusions may apply.
Binding Agreement. This Agreement takes effect once you use your With Citi Flex Loan, you can use your Account’s credit line to access
Card. Even if you don’t use your Card, this Agreement will take effect funds and pay such funds under a Citi Flex Plan. You can only create a
unless you contact us to cancel your Account within 30 days after we Citi Flex Loan if you receive an offer. The offer will tell you the terms,
sent you this Agreement. including the APR, that will apply to that Citi Flex Loan.
Credit Limit. We assign a credit limit to your Account. Part of this credit Unlawful Transactions. You aren’t permitted to use your Account for
limit may be available for Cash Advances, and there may be a limit on unlawful Transactions. If you do use your Account for unlawful
the amount of Cash Advances you can take in a given period. We Transactions, this Agreement still applies and you must pay us for those
may authorize Transactions that cause your balance to exceed your Transactions. You also may have to pay the Card Network and/or us for
credit limit. any damages and expenses resulting from that use. In addition, we may
close your Account.
ACCOUNT USE Mobile Phone or Other Devices. Smart phones, tablets and other
electronic devices can store your Card (such as through a mobile wallet).
Consumer Purposes. You aren’t permitted to use your Account for
This means they can be used to make Purchases or other Transactions.
business purposes. If you do use your Account for business purposes,
Any such Transactions are covered by this Agreement. Apps that use
this Agreement still applies, and you must pay us for those Transactions.
your Card to make Transactions may have separate terms of use. We’re
You have to pay us for any damages and/or expenses resulting from that
not responsible if you violate those terms, or for any consequences
use. In addition, we may also close your Account.
resulting from any violation.
Note: It’s important to protect your devices the same way you protect your Card.
Anyone who can access your Card using your device also can make charges to your Account using that device.
3
ANNUAL PERCENTAGE RATES & INTEREST CHARGES
The following sections explain how we calculate the interest you
How is a variable APR calculated?
owe each Billing Period.
If the U.S. Prime Rate published in the WSJ two Business Days
APRs. We use APRs to calculate interest charges on your Account.
before the end of a Billing Period is 5%; and
Different APRs may apply to different Transactions. See the listing of your
If the Margin is 13.99%; then
APRs on the Fact Sheet.
Add the two together to calculate a variable APR:
Variable APRs. A variable APR is an APR that can change each Billing
5% + 13.99% = 18.99%
Period. We calculate each variable APR first by taking the U.S. Prime
Rate from The Wall Street Journal (WSJ) two Business Days before the
last day of each Billing Period. (If the WSJ doesn’t publish the U.S. Prime If the U.S. Prime Rate changes, we’ll apply the new variable APR starting
Rate that day, then we’ll use another publication.) Then we add to the from the first day of the Billing Period when we take the U.S. Prime Rate
U.S. Prime Rate a certain percentage amount, which we call the Margin. from the WSJ. The new APR will apply to existing balances, as well as
You can find the Margin we use for your Account in the Details About balances added to your Account after the change.
Your Interest Rate section of the Fact Sheet. Your variable APRs will
increase if the U.S. Prime Rate increases and decrease if the U.S. Prime Penalty APR. If you have a Late or a Returned Payment, we may apply
Rate decreases. If a variable APR increases, then your interest charges a penalty APR to your Account. We determine your penalty APR based
and Minimum Payment Due may increase. on your creditworthiness.
continued on next page
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Section
NYSCEF DOC.3 — NO.
ANNUAL
6 PERCENTAGE RATES & INTEREST CHARGES (continued) RECEIVED NYSCEF: 09/20/2021
• Penalty APR for new Transactions (less than 60 days late). • We subtract any credits or payments credited as of that day.
If you make a Late Payment and it’s less than 60 days late or you • We make additional adjustments as appropriate, subject to applicable
have a Returned Payment, the penalty APR only will apply to new law (as an example, for a disputed charge). This gives us the daily
Transactions. We’ll review your Account from time to time, to balance for that day.
determine if any penalty APR should be reduced.
• Penalty APR for existing balances and new Transactions (60 or Daily balance for purchases from the previous day
more days late). If we haven’t received your Minimum Payment Due + New purchases
within 60 days after its due date, we may apply the penalty APR to + Fees and interest accrued on the previous day’s Purchase balance
both the existing balances and new Transactions. If you make your – Payments, credits and adjustments posted that day
next 6 consecutive Minimum Payments Due on time, we’ll stop
applying the penalty APR to existing balances and new Transactions. = New daily balance for Purchases
If you don’t make your next 6 consecutive Minimum Payments Due on
time, the penalty APR may continue to apply indefinitely to existing
balances and new Transactions. Interest Calculation. Each daily balance may have a different APR.
Daily Balance Certain categories of Transactions in a daily balance may have multiple
We calculate interest on your Account each Billing Period first by APRs. For example, you may make a Purchase or Balance Transfer
calculating your daily balances. The following explains how we do that. that’s subject to a promotional APR. If a daily balance on your Account is
subject to an APR, we’ll charge interest on that daily balance. We use
Here’s how and when Transactions, fees and credits are applied to the daily balance method (which includes new Transactions). If interest
the balances on your Account: applies to a balance, it will start applying on the day a charge is added
• We add the amount of a Purchase or Balance Transfer to the to that balance and continue until that balance is paid in full. We
Purchase balance as of the post date on your statement. consider a credit balance as a balance of zero when calculating interest
• We add the amount of a Cash Advance to the Cash Advance balance on that balance.
as of the post date on your statement. • We multiply each daily balance by its applicable daily periodic rates
• We add a Balance Transfer fee to the Purchase balance as of the post (each applicable APR divided by 365).
date on your statement. • We do this for each day in the Billing Period. This gives us the daily
• We add the amount of any eligible Transaction under Citi Flex Pay or a interest amounts.
Citi Flex Loan to a Citi Flex Plan balance as of the post date on your • Then we total all the daily interest amounts for all the daily balances.
statement. If you moved an amount from another balance within your This gives us the total interest for the Billing Period.
Account to a Citi Flex Plan, we will credit the other balance in the
amount you added to a Citi Flex Plan in order to avoid double counting Note: Your balances, and their corresponding APRs, are shown on
that amount. your statement.
• We add a Cash Advance fee to the Cash Advance balance as of the
post date on your statement. We’ll add any other fees to the balance
of our choice. If you’re charged interest in a Billing Period, but the Calculating the New Balance. To calculate the New Balance at the end
amount calculated is less than $0.50, we’ll add additional interest to of each Billing Period, we begin with the total Account balance at the
the balance(s) of our choice so that you’ll be charged $0.50 in interest start of that Billing Period. Then we add any Transactions that are new to
for that Billing Period. the Account during that Billing Period. Then we subtract any credits
applied or payments made during that Billing Period. Then we add any
• We subtract credits and payments as of the post date shown on interest charges or fees incurred during that Billing Period and make
your statement. any other adjustments, as applicable (for example, if you have disputed
• Each balance may have a different APR. Certain categories of a charge).
Transactions in a balance may have multiple APRs. For example, you Grace Period on Purchases. You won’t pay any interest on Purchases
may make a Purchase or Balance Transfer, or create a Citi Flex Plan, if you pay the Adjusted New Balance, including any Balance Transfers,
that’s subject to a promotional APR. Your balances, and their plus any Citi Flex Plan Payment Amount, in full by the payment due date
corresponding APRs, are shown on your statement. shown on your statement each Billing Period. We call this a grace
period on purchases. If you don’t pay your Adjusted New Balance in
Note: The post date shown on your statement will usually be the date full, plus any Citi Flex Plan Payment Amount, by the payment due date in
of the Transaction, but it may be later. a Billing Period, you’ll pay interest on your Purchases from the date
they’re posted to your Account. You also won’t have a grace period on
Here’s how we calculate each of the daily Purchase, Cash Purchases again until you pay the Adjusted New Balance in full, plus any
Advance and Citi Flex Plan balances on your Account: Citi Flex Plan Payment Amount, by the payment due date 2 Billing
• We start with the daily balance from the end of the previous day. Periods in a row.
• We add any new Transactions, fees and other charges, including There’s no grace period on Balance Transfers and Cash Advances. This
interest accrued on the previous day’s balance. This means that means you’ll pay interest on Balance Transfers and Cash Advances from
interest is compounded daily. the date these Transactions post to your Account.
continued on next page
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Section
NYSCEF 3 — ANNUAL
DOC. NO. 6PERCENTAGE RATES & INTEREST CHARGES (continued) RECEIVED NYSCEF: 09/20/2021
Important Information about Citi Flex Plans: We apply any
amount you pay over your Minimum Payment Due first to the balance The New Balance for the Account: is $9,090. The Adjusted New
with the highest APR, then to the balance with the next highest APR, Balance is the New Balance ($9,090) less the Citi Flex Plan
and so on, as described in Section 5, Application of Payments. This Balance ($4,090): $5,000. Your Minimum Payment Due is $323
means that, if the APR for a Citi Flex Plan balance is higher than an ($75 + $248). To retain your grace period on purchases, you must
APR that applies to another balance on your Account, we will apply pay the Adjusted New Balance ($5,000) plus your Citi Flex Plan
the amount you pay above the Minimum Payment Due to that Citi Payment Amount ($248): $5,248.
Flex Plan balance prior to that other balance. This will cause you to If your Purchase APR is equal to or higher than your Citi Flex Plan
pay off that Citi Flex Plan balance before the end of its repayment APR and you make a payment to retain your grace period on
period and may result in an amount remaining due on your next purchases ($5,248), your Purchase balance will be reduced to $0.
billing statement for the other balance, increasing your Adjusted New This means that, to retain your grace period on purchases in the
Balance on your next billing statement. next Billing Period, you will be required to pay $248 (your Citi Flex
You can see your balances and their corresponding APRs on your Plan Payment Amount), assuming you do not make any new
statement. Transactions.
For example, in a sample Billing Period, an Account with no past Grace Period for Citi Flex Plan balances. When you create a Citi
due or Overlimit Amounts, has: Flex Plan, you will be charged interest on the Citi Flex Plan balance
Citi Flex Plan: $5,000 with a repayment period of 24 months at from the start of the Billing Period following the Billing Period when
16.99% APR you created the Citi Flex Plan. This means that you will not be
Citi Flex Plan statement balance in sample Billing Period: charged interest on the Citi Flex Plan balance during the Billing
$4,090 Period in which you created the Citi Flex Plan.
Citi Flex Plan interest charge in sample Billing Period: $56.92
Citi Flex Plan Payment Amount per Billing Period: $248
and
Purchase balance: $5,000
Minimum Payment Due for Purchases: $75
(Calculations are approximate and for illustrative purposes only.)
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FEES & FOREIGN CURRENCY CONVERSION
FEES
Fee Amount About the Fee
Annual Membership Fee See Pricing Table If your Account has an annual membership fee, the Fact Sheet shows this fee.
You’ll see this annual fee on your first statement after opening your Account and
each year after that. We’ll charge the fee if your Account is open, even if you
don’t have a balance.
Late Fee Up to $40 We have the right to charge you a late fee if you don’t pay at least an amount
equal to the Minimum Payment Due minus any Overlimit Amount by the payment
due date. The late fee is $29 and, if you make another Late Payment within the
next 6 Billing Periods the late fee will be $40. The amount of your late fee will
never be higher than your Minimum Payment Due.
Returned Payment Fee Up to $40 We have the right to charge you a Returned Payment fee of $29 if your bank
doesn’t honor your payment. If that happens, we’ll resubmit the payment request.
If your bank doesn’t honor another payment within 6 consecutive Billing Periods,
the returned payment fee will go up to $40.
Transaction Fee for Either $5 or [3%-5%] of the amount of We charge you a fee for each Balance Transfer.
Balance Transfers each transfer, whichever is greater.
Transaction Fee for Either $10 or 5% of the amount of each We charge you a fee for each Cash Advance.
Cash Advances cash advance, whichever is greater.
Transaction Fee for Purchases in 3% of the amount of the Transaction We charge you a fee for a Purchase made in a currency other than U.S. dollars
Foreign Currency after conversion to U.S. dollars. regardless of where the Transaction takes place or who the merchant is.
FOREIGN CURRENCY CONVERSION
Foreign Currency Conversion – Purchases. A Card Network converts Foreign Currency Conversion – Cash Advances. If you take a Cash
the amount of a Purchase in a foreign currency into U.S. dollars. Each Advance in a foreign currency at an ATM or branch of a financial
Card Network follows its own procedures for conversion. These institution, it may not be the Card Network in all instances that converts
procedures include how the Card Network chooses an exchange rate the Transaction into U.S. dollars. Instead, depending on where the
and when to do the conversion. For example, Visa chooses either a Transaction takes place, another third party, such as a financial
government-mandated exchange rate or chooses from a range of rates institution, ATM network or ATM operator, may do the conversion. We do
available on wholesale currency markets (and, in either case, the not control this. However, if you use your Card for a Cash Advance at a
exchange rate that it chooses may be less favorable than the rate that Citibank ATM or branch, then we or our affiliates may do the conversion.
Visa itself, receives when it makes foreign currency transactions). The party that converts a Cash Advance to U.S. dollars will choose the
Depending on the policies of each Card Network, the exchange rate exchange rate and when to do the conversion. The exchange rate in
chosen may be the one in effect on the day the Card Network does the effect on the date the Cash Advance is converted to U.S. dollars may
conversion, or on the day before. The exchange rate that a Card Network differ from the rate in effect on the date you took the Cash Advance or
uses to convert the Purchase to U.S. dollars may differ from the rate in the post date for that Transaction shown on your statement. The
effect on the date you made the Purchase or on the post date for that exchange rate may also differ from any rate quoted to you when you
Purchase shown on your statement. The Card Network’s procedures made the Transaction.
may change without notice.
If a third party, such as a merchant, converts the amount of a Purchase
into U.S. dollars before sending the Purchase to a Card Network, the
third party chooses the conversion rate instead of the Card Network.
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PAYMENTS
Minimum Payment Due. You may pay all or a part of your Account • The number of months in the Citi Flex Plan repayment period.
balance at any time. You must pay at least the Minimum Payment Due by • We then round the result up to the nearest dollar.
the payment due date each Billing Period.
The formula we use for determining the amount described directly
Your “Minimum Payment Due” equals:
above is:
• Any amount past due; plus
• The Citi Flex Plan balance, multiplied by
• Any Overlimit Amount; plus
• (IPAPR / 12 ) / (1-(1 + IPAPR / 12 ) -N), rounded up to the nearest
• Any Citi Flex Plan Payment Amount; plus dollar. “IPAPR” equals the specific Citi Flex Plan APR applicable to the
• The greater of: Citi Flex Plan balance. “N” equals the number of months in the Citi Flex
Plan repayment period.
1. The Adjusted New Balance, if it’s less than $35;
2. $35 if the Adjusted New Balance is at least $35; The actual interest charged on your Plan will be calculated as described
in Section 3. Your first Citi Flex Plan Payment Amount will be due in the
3. 1% of the Adjusted New Balance (rounded to the nearest dollar), Billing Period following the Billing Period in which you created the Citi Flex
plus any billed interest or minimum interest charge, plus any late Plan. If you do not pay your Minimum Payment Due in full by the due
fee; or date, you may owe additional interest on your Citi Flex Plan balance. This
4. 1.5% of the Adjusted New Balance (rounded to the nearest dollar). will not increase the Citi Flex Plan Payment Amount for subsequent Billing
The Minimum Payment Due is never more than the New Balance. Periods, but you may be required to make additional payments after the
end of the Citi Flex Plan repayment period to pay your Citi Flex Plan
Note: Your payment due date is typically the same day of the month every balance (including any additional interest) in full.
month. You may request a change to your monthly due date.
If you have not paid your Minimum Payment Due for any three Billing
Periods during the Citi Flex Plan, and the Minimum Payment Due for
How is the Minimum Payment Due calculated?
those three Billing Periods remains outstanding at the end of your current
For example, in a sample Billing Period, an Account with no past due, Billing Period, we may cancel any existing Citi Flex Plan from your
Overlimit or Citi Flex Plan Payment amount has: Account, then add the balance of any canceled Citi Flex Plan to the
New Balance: $2,500 Purchase balance, retaining the Citi Flex Plan APR that was in effect at
Interest: $18.54 time of cancellation. We may also do this if:
Since the New Balance is more than $35, and there are no past due or • You file for bankruptcy or some other insolvency
Overlimit amounts, the Minimum Payment Due will be the greater of: proceeding is filed by or against you.
1% of the New Balance • You don’t honor the terms of this Agreement.
(1.0% x $2,500: $25.00) + interest ($18.54): $43.54
• You’re declared incompetent or mentally incapacitated or in
or
the event of your death.
1.5% of the New Balance (1.5% x $2,500): $37.50
• You enter into a hardship assistance program.
Since 1% of the New Balance plus interest ($43.54) is greater than
1.5% of the New Balance ($37.50) the Minimum Payment Due is If any of the above events occur, we will calculate the Minimum Payment
$43.54. Due as part of the Adjusted New Balance as described in Section 5 and
you will no longer pay a monthly Citi Flex Plan Payment Amount. Any
Citi Flex Plan Payment Amount. The Minimum Payment Due will include canceled Citi Flex Plan balance amount that was added to a Purchase
any amount due on a Citi Flex Plan balance each Billing Period (the “Citi balance will not be added back to a Citi Flex Plan balance, even if you
Flex Plan Payment Amount”). You must pay the Citi Flex Plan Payment pay your outstanding Minimum Payment Due in full. You will not be
Amount each Billing Period, calculated as described below, for so long as eligible to create another Citi Flex Plan until you pay your outstanding
any balance remains in the Citi Flex Plan. The Citi Flex Plan Payment Minimum Payment Due in full, and then only if we offer you the
Amount will never be more than the amount of the Citi Flex Plan balance. opportunity to create another Citi Flex Plan.
We determine the Citi Flex Plan Payment Amount for each Citi Flex Plan
that you will pay in each Billing Period as follows: Important Information about Citi Flex Plans and Promotional APRs:
• The Citi Flex Plan balance as of the date you create the Citi Flex Plan, If your Citi Flex Plan APR is higher than any other APR, such as a
plus promotional Balance Transfer APR, we will apply any payment you make
• The estimated interest charges for the Citi Flex Plan calculated on the above the Minimum Payment Due to that Citi Flex Plan balance prior to
daily balance from the start of the next Billing Period following the the lower APR balances. This means that if you want to pay off a
Billing Period in which you created the Citi Flex Plan through the end of balance with a lower promotional APR before the promotional period
the Citi Flex Plan repayment period (assuming that you pay the expires, you must first pay off all your other balances with higher
Minimum Payment Due on your Account each month on the due date), APRs, including your Citi Flex Plan balance, before you can pay off
the sum of which is divided by: that promotional balance.
continued on next page
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Section 5 — PAYMENTS (continued)
NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 09/20/2021
For example, in a sample Billing Period, an Account with no past due Application of Payments. We decide how to apply your payment, up
or Overlimit Amounts, has: to the Minimum Payment Due, to the balances on your Account. We
may apply the Minimum Payment Due first to interest charges, then to
the balance with the lowest APR and then to balances with higher
Citi Flex Plan: $5,000 with a repayment period of 24 months at APRs. If you pay more than the Minimum Payment Due, we’ll apply the
16.99% APR amount over the Minimum Payment Due first to the balance with the
Citi Flex Plan statement balance in sample Billing Period: $4,090 highest APR, then to the balance with the next highest APR, and so on,
except as otherwise required by applicable law.
Citi Flex Plan interest charge in sample Billing Period: $56.92
Payment Instructions. You must follow the instructions below when
Citi Flex Plan Payment Amount per Billing Period: $248
making a payment. If you do, we’ll credit the payment to your Account
as of the day we receive it.
And
1. You must pay in U.S. dollars.
2. You must use a check or electronic debit issued by a bank in
Balance Transfer amount: $3,500
the United States.
Balance Transfer promotional APR: 0.00% (increases to standard
3. You must not send us a check dated after the date that we
Purchase APR of 19.99% after the promotion period ends in the
receive it.
next Billing Period)
4. You must not enclose more than one check per envelope.
Minimum Payment Due for Balance Transfer amount: $53
5. You must not include any restrictive endorsements on the check.
6. You must follow the additional payment instructions shown on
(Calculations are approximate and for illustrative purposes only.)
your statement.
If you don’t pay in U.S. dollars and we accept your payment, we’ll
The New Balance for the Account: is $7,590. The Adjusted New select the currency conversion
Preview
FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 09/20/2021 Card Agreement Guide This Guide will help you easily identify sections of the Card Agreement and give you a brief overview of the contents of each section. This is not intended to be a complete summary of the Card Agreement’s contents, and we encourage you to read your entire Card Agreement, including the arbitration provision, before you use your Account. 1 8 DEFINITIONS CREDIT REPORTING Lists the meanings of particular phrases and terms Describes what information we provide about you to used in the Card Agreement. credit reporting agencies, and how to dispute items on your report. This section also explains how we use 2 information we get about you from those agencies. YOUR ACCOUNT 9 Describes some of your responsibilities for using your Account. ACCOUNT INFORMATION, INFORMATION SHARING & COMMUNICATIONS Explains that your personal information we use to 3 manage your Account should always be up to date. ANNUAL PERCENTAGE RATES Also notes that we share information about you and & INTEREST CHARGES your Account. In addition, this section describes how Shows how we calculate interest rates and how that we may contact you. affects your Account balance. 4 10 TRANSACTIONS FEES & FOREIGN CURRENCY CONVERSION Provides important information about merchant credits, Describes the fees that can be applied to your Account, recurring Transactions and card refusals. including late fees, returned payment fees, as well as foreign transaction fees for Purchases not in U.S. dollars. 11 ARBITRATION 5 Explains that you cannot go to court, have a jury trial or PAYMENTS initiate or participate in a class action if you have a Shows how your monthly Minimum Payment Due is dispute with us. Instead, this provision tells you that the calculated, tells you how we apply your payments to dispute must be resolved by a professional arbitrator, balances, and gives you certain instructions for making not a judge or jury. This section also explains how payments (and tells you the possible consequences of arbitration works and some of the differences between not following those instructions). resolving a dispute in arbitration and resolving one in court. 6 12 AUTHORIZED USERS AGREEMENT & BENEFIT CHANGES Describes an Authorized User’s rights and your Explains that we can make changes to the Card responsibility for that user. Also describes what Agreement and your card benefits and features. information we can share about you and your Authorized User. 13 MISCELLANEOUS 7 Explains subjects that aren’t included in DEFAULT, CLOSING OR SUSPENDING previous sections. YOUR ACCOUNT Tells you when we may require immediate payment of 14 your total Account balance, and explains when we may YOUR BILLING RIGHTS close or suspend your Account, and when you may close Explains your billing rights, which include how to your Account. address possible statement mistakes and your rights if you’re not satisfied with a Purchase. FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 09/20/2021 Card Agreement This Card Agreement (Agreement) is your contract with us. The Facts about Interest and Fees document (Fact Sheet) is part of this Agreement. The Fact Sheet shows important information about your Account, such as your annual percentage rates and certain fees. Any amendments to this Agreement also are part of this Agreement. Please read all parts of this Agreement, including the arbitration provision, and keep it for your records. Note: Throughout the Agreement are examples, helpful tips and additional explanations that will make the Agreement easier to understand. 1 DEFINITIONS Account – Your Citi Account. Citi Flex Pay – Eligible Transactions that you select to be paid under a Adjusted New Balance – Your New Balance less any Citi Flex Plan Citi Flex Plan. balance. Citi Flex Plan – A feature on your Account to pay Citi Flex Loans or Citi Annual Percentage Rate (APR) – A rate, shown as a percentage, used Flex Pay amounts in fixed payments over a defined number of Billing to calculate interest on the balance on your Account. Periods subject to a Citi Flex Plan APR. Authorized User – Any person you allow to use your Account with a Consumer Reporting Agency – An organization, such as Experian, Card we provided with that person’s name. Equifax and TransUnion, that compiles credit information for the purpose of generating consumer credit reports. It’s also known as a “credit Balance Transfer – Use of a Balance Transfer offer, including use of a bureau” and a “credit reporting agency.” check that accesses your Account for any transaction, or the transfer of a balance from another credit account to your Account. Include and including – These terms mean “include [or including] without limitation.” Billing Period – The period of time between each date when we create a statement for your Account. A Billing Period is usually 28 – 33 days. Late Payment – A payment is late if you don’t pay at least an amount For each Billing Period, your statement will show any Transactions, other equal to the Minimum Payment Due minus any Overlimit Amount by the charges, payments and other credits posted during that Billing Period. payment due date. Business Day – Monday through Friday, excluding federal holidays. New Balance – The total amount you owe us at the end of each Billing Period. This amount is shown on each statement under the heading Card – One or more cards or other devices (including an account “New Balance.” We explain how we calculate the New Balance below. number) used to access your Account to obtain credit. Overlimit Amount – The amount by which your Account balance Card Networks – Organizations, such as Mastercard, Visa and exceeds your credit limit in any Billing Period. American Express, that facilitate the payment process between a cardmember, merchants and a card issuer. Purchase – Use of your Card to buy goods and services. Balance Transfers and Cash Advances are not Purchases. Cash Advance – Use of your Card to get cash, including foreign currency, or for what we consider a cash-like transaction. Examples Returned Payment – A payment that isn’t honored by your include using your Card for: ATM and teller withdrawals, wire transfers, financial institution. money orders, traveler’s checks, lottery tickets, gaming chips and other Transaction – A Balance Transfer, Cash Advance, Purchase or Citi Flex methods used for gambling, wagers and other betting transactions. A Citi Plan, as applicable. Flex Loan is not a Cash Advance. we, us and our – Citibank, N.A. Citi Flex Loan – Funds provided to you by check or by direct deposit you and your – The cardmember who opened the Account. that you select to be charged to your Account and repaid under a Citi Flex Plan. Balance Transfers and Cash Advances are not Citi Flex Loans. You’ll find definitions of other terms within this Agreement. 1 2 FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 09/20/2021 YOUR ACCOUNT Your Account use is subject to this Agreement. You must pay us for Citi Flex Plan. Your ability to create a Citi Flex Plan will depend on the all amounts due on your Account, including: amount of your available credit, creditworthiness, and other factors. We 1. Transactions you make, even if you didn’t present your Card or sign may limit the number of active Citi Flex Plans you can have and we may for the Transaction; change this number at any time. There are two ways to create a Citi Flex Plan – Citi Flex Pay and Citi Flex Loan. 2. Transactions an Authorized User makes; With Citi Flex Pay, you can pay for eligible Transactions under a Citi 3. Transactions that other people make if you or an Authorized User let Flex Plan. An eligible Transaction for Citi Flex Pay must be a Purchase of them use your Account; and at least a specified dollar amount and does not include a Purchase of 4. Any fees and interest charges on the Account. cash or cash equivalent, a Purchase subject to Foreign Transaction Fees or any fee owed to us. Other exclusions may apply. Binding Agreement. This Agreement takes effect once you use your With Citi Flex Loan, you can use your Account’s credit line to access Card. Even if you don’t use your Card, this Agreement will take effect funds and pay such funds under a Citi Flex Plan. You can only create a unless you contact us to cancel your Account within 30 days after we Citi Flex Loan if you receive an offer. The offer will tell you the terms, sent you this Agreement. including the APR, that will apply to that Citi Flex Loan. Credit Limit. We assign a credit limit to your Account. Part of this credit Unlawful Transactions. You aren’t permitted to use your Account for limit may be available for Cash Advances, and there may be a limit on unlawful Transactions. If you do use your Account for unlawful the amount of Cash Advances you can take in a given period. We Transactions, this Agreement still applies and you must pay us for those may authorize Transactions that cause your balance to exceed your Transactions. You also may have to pay the Card Network and/or us for credit limit. any damages and expenses resulting from that use. In addition, we may close your Account. ACCOUNT USE Mobile Phone or Other Devices. Smart phones, tablets and other electronic devices can store your Card (such as through a mobile wallet). Consumer Purposes. You aren’t permitted to use your Account for This means they can be used to make Purchases or other Transactions. business purposes. If you do use your Account for business purposes, Any such Transactions are covered by this Agreement. Apps that use this Agreement still applies, and you must pay us for those Transactions. your Card to make Transactions may have separate terms of use. We’re You have to pay us for any damages and/or expenses resulting from that not responsible if you violate those terms, or for any consequences use. In addition, we may also close your Account. resulting from any violation. Note: It’s important to protect your devices the same way you protect your Card. Anyone who can access your Card using your device also can make charges to your Account using that device. 3 ANNUAL PERCENTAGE RATES & INTEREST CHARGES The following sections explain how we calculate the interest you How is a variable APR calculated? owe each Billing Period. If the U.S. Prime Rate published in the WSJ two Business Days APRs. We use APRs to calculate interest charges on your Account. before the end of a Billing Period is 5%; and Different APRs may apply to different Transactions. See the listing of your If the Margin is 13.99%; then APRs on the Fact Sheet. Add the two together to calculate a variable APR: Variable APRs. A variable APR is an APR that can change each Billing 5% + 13.99% = 18.99% Period. We calculate each variable APR first by taking the U.S. Prime Rate from The Wall Street Journal (WSJ) two Business Days before the last day of each Billing Period. (If the WSJ doesn’t publish the U.S. Prime If the U.S. Prime Rate changes, we’ll apply the new variable APR starting Rate that day, then we’ll use another publication.) Then we add to the from the first day of the Billing Period when we take the U.S. Prime Rate U.S. Prime Rate a certain percentage amount, which we call the Margin. from the WSJ. The new APR will apply to existing balances, as well as You can find the Margin we use for your Account in the Details About balances added to your Account after the change. Your Interest Rate section of the Fact Sheet. Your variable APRs will increase if the U.S. Prime Rate increases and decrease if the U.S. Prime Penalty APR. If you have a Late or a Returned Payment, we may apply Rate decreases. If a variable APR increases, then your interest charges a penalty APR to your Account. We determine your penalty APR based and Minimum Payment Due may increase. on your creditworthiness. continued on next page 2 FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 Section NYSCEF DOC.3 — NO. ANNUAL 6 PERCENTAGE RATES & INTEREST CHARGES (continued) RECEIVED NYSCEF: 09/20/2021 • Penalty APR for new Transactions (less than 60 days late). • We subtract any credits or payments credited as of that day. If you make a Late Payment and it’s less than 60 days late or you • We make additional adjustments as appropriate, subject to applicable have a Returned Payment, the penalty APR only will apply to new law (as an example, for a disputed charge). This gives us the daily Transactions. We’ll review your Account from time to time, to balance for that day. determine if any penalty APR should be reduced. • Penalty APR for existing balances and new Transactions (60 or Daily balance for purchases from the previous day more days late). If we haven’t received your Minimum Payment Due + New purchases within 60 days after its due date, we may apply the penalty APR to + Fees and interest accrued on the previous day’s Purchase balance both the existing balances and new Transactions. If you make your – Payments, credits and adjustments posted that day next 6 consecutive Minimum Payments Due on time, we’ll stop applying the penalty APR to existing balances and new Transactions. = New daily balance for Purchases If you don’t make your next 6 consecutive Minimum Payments Due on time, the penalty APR may continue to apply indefinitely to existing balances and new Transactions. Interest Calculation. Each daily balance may have a different APR. Daily Balance Certain categories of Transactions in a daily balance may have multiple We calculate interest on your Account each Billing Period first by APRs. For example, you may make a Purchase or Balance Transfer calculating your daily balances. The following explains how we do that. that’s subject to a promotional APR. If a daily balance on your Account is subject to an APR, we’ll charge interest on that daily balance. We use Here’s how and when Transactions, fees and credits are applied to the daily balance method (which includes new Transactions). If interest the balances on your Account: applies to a balance, it will start applying on the day a charge is added • We add the amount of a Purchase or Balance Transfer to the to that balance and continue until that balance is paid in full. We Purchase balance as of the post date on your statement. consider a credit balance as a balance of zero when calculating interest • We add the amount of a Cash Advance to the Cash Advance balance on that balance. as of the post date on your statement. • We multiply each daily balance by its applicable daily periodic rates • We add a Balance Transfer fee to the Purchase balance as of the post (each applicable APR divided by 365). date on your statement. • We do this for each day in the Billing Period. This gives us the daily • We add the amount of any eligible Transaction under Citi Flex Pay or a interest amounts. Citi Flex Loan to a Citi Flex Plan balance as of the post date on your • Then we total all the daily interest amounts for all the daily balances. statement. If you moved an amount from another balance within your This gives us the total interest for the Billing Period. Account to a Citi Flex Plan, we will credit the other balance in the amount you added to a Citi Flex Plan in order to avoid double counting Note: Your balances, and their corresponding APRs, are shown on that amount. your statement. • We add a Cash Advance fee to the Cash Advance balance as of the post date on your statement. We’ll add any other fees to the balance of our choice. If you’re charged interest in a Billing Period, but the Calculating the New Balance. To calculate the New Balance at the end amount calculated is less than $0.50, we’ll add additional interest to of each Billing Period, we begin with the total Account balance at the the balance(s) of our choice so that you’ll be charged $0.50 in interest start of that Billing Period. Then we add any Transactions that are new to for that Billing Period. the Account during that Billing Period. Then we subtract any credits applied or payments made during that Billing Period. Then we add any • We subtract credits and payments as of the post date shown on interest charges or fees incurred during that Billing Period and make your statement. any other adjustments, as applicable (for example, if you have disputed • Each balance may have a different APR. Certain categories of a charge). Transactions in a balance may have multiple APRs. For example, you Grace Period on Purchases. You won’t pay any interest on Purchases may make a Purchase or Balance Transfer, or create a Citi Flex Plan, if you pay the Adjusted New Balance, including any Balance Transfers, that’s subject to a promotional APR. Your balances, and their plus any Citi Flex Plan Payment Amount, in full by the payment due date corresponding APRs, are shown on your statement. shown on your statement each Billing Period. We call this a grace period on purchases. If you don’t pay your Adjusted New Balance in Note: The post date shown on your statement will usually be the date full, plus any Citi Flex Plan Payment Amount, by the payment due date in of the Transaction, but it may be later. a Billing Period, you’ll pay interest on your Purchases from the date they’re posted to your Account. You also won’t have a grace period on Here’s how we calculate each of the daily Purchase, Cash Purchases again until you pay the Adjusted New Balance in full, plus any Advance and Citi Flex Plan balances on your Account: Citi Flex Plan Payment Amount, by the payment due date 2 Billing • We start with the daily balance from the end of the previous day. Periods in a row. • We add any new Transactions, fees and other charges, including There’s no grace period on Balance Transfers and Cash Advances. This interest accrued on the previous day’s balance. This means that means you’ll pay interest on Balance Transfers and Cash Advances from interest is compounded daily. the date these Transactions post to your Account. continued on next page 3 FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 Section NYSCEF 3 — ANNUAL DOC. NO. 6PERCENTAGE RATES & INTEREST CHARGES (continued) RECEIVED NYSCEF: 09/20/2021 Important Information about Citi Flex Plans: We apply any amount you pay over your Minimum Payment Due first to the balance The New Balance for the Account: is $9,090. The Adjusted New with the highest APR, then to the balance with the next highest APR, Balance is the New Balance ($9,090) less the Citi Flex Plan and so on, as described in Section 5, Application of Payments. This Balance ($4,090): $5,000. Your Minimum Payment Due is $323 means that, if the APR for a Citi Flex Plan balance is higher than an ($75 + $248). To retain your grace period on purchases, you must APR that applies to another balance on your Account, we will apply pay the Adjusted New Balance ($5,000) plus your Citi Flex Plan the amount you pay above the Minimum Payment Due to that Citi Payment Amount ($248): $5,248. Flex Plan balance prior to that other balance. This will cause you to If your Purchase APR is equal to or higher than your Citi Flex Plan pay off that Citi Flex Plan balance before the end of its repayment APR and you make a payment to retain your grace period on period and may result in an amount remaining due on your next purchases ($5,248), your Purchase balance will be reduced to $0. billing statement for the other balance, increasing your Adjusted New This means that, to retain your grace period on purchases in the Balance on your next billing statement. next Billing Period, you will be required to pay $248 (your Citi Flex You can see your balances and their corresponding APRs on your Plan Payment Amount), assuming you do not make any new statement. Transactions. For example, in a sample Billing Period, an Account with no past Grace Period for Citi Flex Plan balances. When you create a Citi due or Overlimit Amounts, has: Flex Plan, you will be charged interest on the Citi Flex Plan balance Citi Flex Plan: $5,000 with a repayment period of 24 months at from the start of the Billing Period following the Billing Period when 16.99% APR you created the Citi Flex Plan. This means that you will not be Citi Flex Plan statement balance in sample Billing Period: charged interest on the Citi Flex Plan balance during the Billing $4,090 Period in which you created the Citi Flex Plan. Citi Flex Plan interest charge in sample Billing Period: $56.92 Citi Flex Plan Payment Amount per Billing Period: $248 and Purchase balance: $5,000 Minimum Payment Due for Purchases: $75 (Calculations are approximate and for illustrative purposes only.) 4 4 FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 09/20/2021 FEES & FOREIGN CURRENCY CONVERSION FEES Fee Amount About the Fee Annual Membership Fee See Pricing Table If your Account has an annual membership fee, the Fact Sheet shows this fee. You’ll see this annual fee on your first statement after opening your Account and each year after that. We’ll charge the fee if your Account is open, even if you don’t have a balance. Late Fee Up to $40 We have the right to charge you a late fee if you don’t pay at least an amount equal to the Minimum Payment Due minus any Overlimit Amount by the payment due date. The late fee is $29 and, if you make another Late Payment within the next 6 Billing Periods the late fee will be $40. The amount of your late fee will never be higher than your Minimum Payment Due. Returned Payment Fee Up to $40 We have the right to charge you a Returned Payment fee of $29 if your bank doesn’t honor your payment. If that happens, we’ll resubmit the payment request. If your bank doesn’t honor another payment within 6 consecutive Billing Periods, the returned payment fee will go up to $40. Transaction Fee for Either $5 or [3%-5%] of the amount of We charge you a fee for each Balance Transfer. Balance Transfers each transfer, whichever is greater. Transaction Fee for Either $10 or 5% of the amount of each We charge you a fee for each Cash Advance. Cash Advances cash advance, whichever is greater. Transaction Fee for Purchases in 3% of the amount of the Transaction We charge you a fee for a Purchase made in a currency other than U.S. dollars Foreign Currency after conversion to U.S. dollars. regardless of where the Transaction takes place or who the merchant is. FOREIGN CURRENCY CONVERSION Foreign Currency Conversion – Purchases. A Card Network converts Foreign Currency Conversion – Cash Advances. If you take a Cash the amount of a Purchase in a foreign currency into U.S. dollars. Each Advance in a foreign currency at an ATM or branch of a financial Card Network follows its own procedures for conversion. These institution, it may not be the Card Network in all instances that converts procedures include how the Card Network chooses an exchange rate the Transaction into U.S. dollars. Instead, depending on where the and when to do the conversion. For example, Visa chooses either a Transaction takes place, another third party, such as a financial government-mandated exchange rate or chooses from a range of rates institution, ATM network or ATM operator, may do the conversion. We do available on wholesale currency markets (and, in either case, the not control this. However, if you use your Card for a Cash Advance at a exchange rate that it chooses may be less favorable than the rate that Citibank ATM or branch, then we or our affiliates may do the conversion. Visa itself, receives when it makes foreign currency transactions). The party that converts a Cash Advance to U.S. dollars will choose the Depending on the policies of each Card Network, the exchange rate exchange rate and when to do the conversion. The exchange rate in chosen may be the one in effect on the day the Card Network does the effect on the date the Cash Advance is converted to U.S. dollars may conversion, or on the day before. The exchange rate that a Card Network differ from the rate in effect on the date you took the Cash Advance or uses to convert the Purchase to U.S. dollars may differ from the rate in the post date for that Transaction shown on your statement. The effect on the date you made the Purchase or on the post date for that exchange rate may also differ from any rate quoted to you when you Purchase shown on your statement. The Card Network’s procedures made the Transaction. may change without notice. If a third party, such as a merchant, converts the amount of a Purchase into U.S. dollars before sending the Purchase to a Card Network, the third party chooses the conversion rate instead of the Card Network. 5 5 FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 09/20/2021 PAYMENTS Minimum Payment Due. You may pay all or a part of your Account • The number of months in the Citi Flex Plan repayment period. balance at any time. You must pay at least the Minimum Payment Due by • We then round the result up to the nearest dollar. the payment due date each Billing Period. The formula we use for determining the amount described directly Your “Minimum Payment Due” equals: above is: • Any amount past due; plus • The Citi Flex Plan balance, multiplied by • Any Overlimit Amount; plus • (IPAPR / 12 ) / (1-(1 + IPAPR / 12 ) -N), rounded up to the nearest • Any Citi Flex Plan Payment Amount; plus dollar. “IPAPR” equals the specific Citi Flex Plan APR applicable to the • The greater of: Citi Flex Plan balance. “N” equals the number of months in the Citi Flex Plan repayment period. 1. The Adjusted New Balance, if it’s less than $35; 2. $35 if the Adjusted New Balance is at least $35; The actual interest charged on your Plan will be calculated as described in Section 3. Your first Citi Flex Plan Payment Amount will be due in the 3. 1% of the Adjusted New Balance (rounded to the nearest dollar), Billing Period following the Billing Period in which you created the Citi Flex plus any billed interest or minimum interest charge, plus any late Plan. If you do not pay your Minimum Payment Due in full by the due fee; or date, you may owe additional interest on your Citi Flex Plan balance. This 4. 1.5% of the Adjusted New Balance (rounded to the nearest dollar). will not increase the Citi Flex Plan Payment Amount for subsequent Billing The Minimum Payment Due is never more than the New Balance. Periods, but you may be required to make additional payments after the end of the Citi Flex Plan repayment period to pay your Citi Flex Plan Note: Your payment due date is typically the same day of the month every balance (including any additional interest) in full. month. You may request a change to your monthly due date. If you have not paid your Minimum Payment Due for any three Billing Periods during the Citi Flex Plan, and the Minimum Payment Due for How is the Minimum Payment Due calculated? those three Billing Periods remains outstanding at the end of your current For example, in a sample Billing Period, an Account with no past due, Billing Period, we may cancel any existing Citi Flex Plan from your Overlimit or Citi Flex Plan Payment amount has: Account, then add the balance of any canceled Citi Flex Plan to the New Balance: $2,500 Purchase balance, retaining the Citi Flex Plan APR that was in effect at Interest: $18.54 time of cancellation. We may also do this if: Since the New Balance is more than $35, and there are no past due or • You file for bankruptcy or some other insolvency Overlimit amounts, the Minimum Payment Due will be the greater of: proceeding is filed by or against you. 1% of the New Balance • You don’t honor the terms of this Agreement. (1.0% x $2,500: $25.00) + interest ($18.54): $43.54 • You’re declared incompetent or mentally incapacitated or in or the event of your death. 1.5% of the New Balance (1.5% x $2,500): $37.50 • You enter into a hardship assistance program. Since 1% of the New Balance plus interest ($43.54) is greater than 1.5% of the New Balance ($37.50) the Minimum Payment Due is If any of the above events occur, we will calculate the Minimum Payment $43.54. Due as part of the Adjusted New Balance as described in Section 5 and you will no longer pay a monthly Citi Flex Plan Payment Amount. Any Citi Flex Plan Payment Amount. The Minimum Payment Due will include canceled Citi Flex Plan balance amount that was added to a Purchase any amount due on a Citi Flex Plan balance each Billing Period (the “Citi balance will not be added back to a Citi Flex Plan balance, even if you Flex Plan Payment Amount”). You must pay the Citi Flex Plan Payment pay your outstanding Minimum Payment Due in full. You will not be Amount each Billing Period, calculated as described below, for so long as eligible to create another Citi Flex Plan until you pay your outstanding any balance remains in the Citi Flex Plan. The Citi Flex Plan Payment Minimum Payment Due in full, and then only if we offer you the Amount will never be more than the amount of the Citi Flex Plan balance. opportunity to create another Citi Flex Plan. We determine the Citi Flex Plan Payment Amount for each Citi Flex Plan that you will pay in each Billing Period as follows: Important Information about Citi Flex Plans and Promotional APRs: • The Citi Flex Plan balance as of the date you create the Citi Flex Plan, If your Citi Flex Plan APR is higher than any other APR, such as a plus promotional Balance Transfer APR, we will apply any payment you make • The estimated interest charges for the Citi Flex Plan calculated on the above the Minimum Payment Due to that Citi Flex Plan balance prior to daily balance from the start of the next Billing Period following the the lower APR balances. This means that if you want to pay off a Billing Period in which you created the Citi Flex Plan through the end of balance with a lower promotional APR before the promotional period the Citi Flex Plan repayment period (assuming that you pay the expires, you must first pay off all your other balances with higher Minimum Payment Due on your Account each month on the due date), APRs, including your Citi Flex Plan balance, before you can pay off the sum of which is divided by: that promotional balance. continued on next page 6 FILED: ROCKLAND COUNTY CLERK 09/20/2021 05:29 AM INDEX NO. 034654/2021 Section 5 — PAYMENTS (continued) NYSCEF DOC. NO. 6 RECEIVED NYSCEF: 09/20/2021 For example, in a sample Billing Period, an Account with no past due Application of Payments. We decide how to apply your payment, up or Overlimit Amounts, has: to the Minimum Payment Due, to the balances on your Account. We may apply the Minimum Payment Due first to interest charges, then to the balance with the lowest APR and then to balances with higher Citi Flex Plan: $5,000 with a repayment period of 24 months at APRs. If you pay more than the Minimum Payment Due, we’ll apply the 16.99% APR amount over the Minimum Payment Due first to the balance with the Citi Flex Plan statement balance in sample Billing Period: $4,090 highest APR, then to the balance with the next highest APR, and so on, except as otherwise required by applicable law. Citi Flex Plan interest charge in sample Billing Period: $56.92 Payment Instructions. You must follow the instructions below when Citi Flex Plan Payment Amount per Billing Period: $248 making a payment. If you do, we’ll credit the payment to your Account as of the day we receive it. And 1. You must pay in U.S. dollars. 2. You must use a check or electronic debit issued by a bank in Balance Transfer amount: $3,500 the United States. Balance Transfer promotional APR: 0.00% (increases to standard 3. You must not send us a check dated after the date that we Purchase APR of 19.99% after the promotion period ends in the receive it. next Billing Period) 4. You must not enclose more than one check per envelope. Minimum Payment Due for Balance Transfer amount: $53 5. You must not include any restrictive endorsements on the check. 6. You must follow the additional payment instructions shown on (Calculations are approximate and for illustrative purposes only.) your statement. If you don’t pay in U.S. dollars and we accept your payment, we’ll The New Balance for the Account: is $7,590. The Adjusted New select the currency conversion