Credit Card Agreement

1. Credit Card Account Terms

This Credit Card Agreement governs the use of your First International Bank credit card account. By using your credit card, you agree to these terms and conditions.

1.1 Account Opening

• Must be 18 years of age or older
• Subject to credit approval
• Valid identification and income verification required
• Credit limit determined based on creditworthiness

2. Interest Rates and Finance Charges

Interest rates and finance charges vary based on your creditworthiness and the type of transaction.

2.1 Annual Percentage Rate (APR)

• Purchase APR: 15.99% - 24.99% (Variable)
• Balance Transfer APR: 15.99% - 24.99% (Variable)
• Cash Advance APR: 27.99% (Variable)
• Penalty APR: Up to 29.99% (Variable)

2.2 Grace Period

• 25-day grace period for purchases when you pay your full balance
• No grace period for cash advances
• No grace period for balance transfers

3. Fees and Charges

Various fees may apply to your credit card account based on usage and account management.

3.1 Standard Fees

• Annual Fee: $0 - $95 (varies by card type)
• Cash Advance Fee: 5% of amount ($10 minimum)
• Balance Transfer Fee: 3% of amount ($5 minimum)
• Foreign Transaction Fee: 3% of transaction amount
• Late Payment Fee: Up to $40
• Over-Limit Fee: $35
• Returned Payment Fee: $40

4. Payment Terms

Understanding your payment obligations is crucial for maintaining your account in good standing.

4.1 Minimum Payment

• Greater of $25 or 2% of balance
• Plus any past due amounts and fees
• Due date is at least 21 days after statement date
• Payments received after 5 PM ET considered next business day

4.2 Payment Methods

• Online banking
• Mobile app
• Phone payments
• Mail payments
• In-person at branch locations
• Automatic payments

5. Credit Limit and Overlimit

Your credit limit is the maximum amount you can charge to your account.

5.1 Credit Limit Management

• Initial limit based on creditworthiness
• Periodic reviews for limit increases
• You may request limit increases
• We may decrease limits based on account performance

6. Rewards Program

Eligible cards participate in our rewards program with various earning opportunities.

6.1 Earning Rewards

• 1% cash back on all purchases
• 2% cash back on gas and grocery purchases
• 3% cash back on dining and entertainment
• Bonus categories may change quarterly

6.2 Redeeming Rewards

• Minimum $25 redemption
• Statement credit
• Direct deposit to bank account
• Gift cards and merchandise

7. Dispute Resolution

We provide multiple channels for resolving billing disputes and unauthorized transactions.

7.1 Billing Error Rights

• Report billing errors within 60 days of statement date
• Written notice required for formal disputes
• Investigation completed within two billing cycles
• Provisional credit may be issued during investigation

8. Security Features

Your card includes multiple security features to protect against fraud and unauthorized use.

8.1 Fraud Protection

• 24/7 fraud monitoring
• Zero liability for unauthorized transactions
• EMV chip technology
• Contactless payment capability
• Real-time transaction alerts

9. Account Closure

Either party may close the account, subject to settlement of outstanding obligations.

9.1 Voluntary Closure

• You may close your account at any time
• Outstanding balance remains due
• Standard payment terms continue to apply
• Destroy all cards upon closure