How We Will Calculate Your Balance: We use a method called "Average
Daily Balance (including new purchases)." See your account agreement for more
Billing Rights: Information on your rights to dispute
transactions and how to exercise those rights is provided in your Credit Card Agreement.
This is your Consumer Credit Card Agreement (“Agreement”) with Cedar
Hill National Bank (CHNB). This Agreement governs the use of your Cato Credit Card
Account. Your signature on the application indicates that you agree to comply with
the terms in this Agreement. The information about the costs of the card described
in this Agreement is accurate as of November, 2010. This information may have
changed after that date. To find out what may have changed, write to us at CHNB,
P.O. Box 34216, Charlotte, NC 28234-4216.
1. AGREEMENT TERMS. The word Card refers to any credit cards issued
to you or to an authorized user by Cedar Hill National Bank. The word Account refers
to your Cato Credit Card Account. The words “you,” “your,”
and “yours” refer to you, the Cardholder, and any person or persons
who also are contractually liable under this Agreement. The words “we,”
“us,” and “our” refer to Cedar Hill National Bank and any
person or entity to whom or to which this Agreement may be assigned.
OF AGREEMENT. The use of your Account or the Card by you or anyone
whom you authorize or permit to use your Account or the Card means you accept this
3. USE OF YOUR ACCOUNT AND THE CARD. You agree
that you will only use your Account or the Card for personal, family, and household
purposes. You may use your Account or the Card at any Cato, It’s Fashion,
or It’s Fashion Metro store. Prior to use, each Card must be signed by the
person to whom it is issued.
4. PROMISE TO PAY. You agree to pay
us in U.S. Dollars for all purchases, including applicable Interest Charges and
other charges or fees, incurred by you or anyone you authorize or permit to use
your Account or the Card, even if you do not notify us that others are using your
Account or the Card. All checks must be drawn on funds on deposit in the U.S. We
can accept late payments or partial payments or checks and money orders marked “payment
in full” without losing any of our rights under this agreement.
INTEREST CHARGES. If the payments and credits in any billing period
are less than the Previous Balance shown on your monthly statement for that period,
Interest Charges will begin to accrue on the first day of that billing period.
Partial payments made on balances that were subject to a grace period will be credited
as of the first day in the billing cycle. The Interest Charge will be computed as
follows: We will take the balance on your account at the beginning of each
day of your billing period. To this beginning balance (including any unpaid Interest
Charges and unpaid late fees) we will add any new purchases and fees and we will
subtract any new payments and credits. This is the Daily Balance. The Daily Balances
for each day of the billing period are added together and divided by the number
of days in the billing period. This gives us the Average Daily Balance. To
the Average Daily Balance, we will apply the monthly periodic rate of 1.9083% (Corresponding
annual percentage rate 22.9%) to determine the Interest Charge.
6. A MINIMUM
INTEREST CHARGE. We will charge you a minimum Interest Charge
of $1 for any Billing Cycle in which an Interest Charge of less than $1 could otherwise
7. MONTHLY STATEMENTS; BILLING CYCLES. We will send
you a statement after each monthly Billing Cycle in which you have a debit or credit
balance, an Interest Charge is imposed, or applicable law requires us to send a
Statement. The Statement will show the Previous Balance, Payments and Credits, Purchases,
Interest Charges, other Fees and Charges, Payment Due Date, New Balance and Minimum
Payment Due. Purchases will be identified by the amount and date of the transaction,
and an abbreviated merchandise description. A Billing Cycle means the days
between Statement Closing Dates.
8. METHODS OF PAYMENT.
You may at any time pay the entire New Balance shown on your billing statement,
but each month you must pay at least the Minimum Payment Due. All payments
must be mailed or delivered to us at the address shown on your monthly billing statement.
All payments will be applied in the following order: Interest Charges and
other charges or fees, insurance premiums, if any, and purchases in the order made.
9. MINIMUM MONTHLY PAYMENT. If your ‘New
Balance’ is $200 or less, your minimum monthly payment is $10.00 or the balance
whichever is less. If your account balance is greater than $200,
the minimum monthly payment is 5% of the New Balance The minimum payment will
include any past due amounts or payment shortfalls rounded up to the next highest
10. CREDIT LIMIT. We may increase
or decrease your available credit from time to time. We have the right at
any time to limit or terminate the use of your Account without giving you notice
in advance, unless we are required to give you notice by law. If you exceed
or attempt to exceed your line of credit, you may be declared in default.
CREDIT BALANCES. We will refund any credit balance within seven business
days from receipt of your written request mailed to us at CHNB, P.O. Box 34216,
Charlotte, NC 28234-4216.
12. GRACE PERIOD. You will have
a grace period of at least 28 days from your closing date in which to pay your balance
in full each month. If the balance on your account is paid in full within
this grace period, no Interest Charge will be added to your account.
PAYMENT FEE. A Late Payment Fee of up to $20.00 will be
added to your account for each billing period in which you fail to make
a minimum payment within 10 days after your payment due date. If you do not make
at least the Minimum Payment Due by the Payment Due Date each month, you will be
14. RETURNED PAYMENT FEE. A Returned Payment Fee of
up to $25.00 will be assessed on accounts, as permitted by law, whenever a check
or other payment device presented on an account is returned to us unpaid by your
bank or financial institution.
15. PAY BY PHONE FEE.
Each time you ask a customer service representative to assist you in making an expedited
automated payment from your bank account, we may add a service fee to the balance
of your account if permitted by applicable law. The amount of the fee
will be disclosed at the time you request this optional payment service.
DEFAULT/COLLECTION COSTS. If you fail to comply with the terms of this
Agreement including failing to make required payment when due, if you declare bankruptcy,
or if you die, it will be a default subject to any restrictions under applicable
law. If that happens, we may tell you to pay us immediately everything you
owe under the Account and applicable law. We will tell you in advance and/or
give you an opportunity to cure your default only if applicable law requires us
to do so. If you are in default and we refer the collection on your Account
to an attorney, we may charge to you reasonable attorney’s fees and court
or other collection costs as permitted by law.
17. LIABILITY FOR UNAUTHORIZED
USE. If you notice the loss or theft of your credit card or a possible
unauthorized use of your card, you should write to us immediately at: CHNB,
P.O. Box 34216, Charlotte, NC 28234-4216, or call us at 877-557-3526. You
will not be liable for any unauthorized use that occurs after you notify us.
You may, however, be liable for unauthorized use that occurs before your notice
to us. In any case, your liability will not exceed $50.00.
OF TERMS. We may change any term or part of this AGREEMENT, including
Interest Charge rates, fees or the method of computing any balance upon which the
Interest Charge rate is assessed. We will give you notice of any change as
required by applicable law. Your express written agreement to such change
or the use of your Account or the Card on or after the effective date of the change
means that you accept and agree to the change. We have the right to change your
terms, rates, and fees at any time, for any reason, in accordance with the credit
card agreement and applicable law.
19. CREDIT AUTHORIZATION. Some
purchases will require our prior authorization and you may be asked to provide identification.
If our authorization system is not working, we may not be able to authorize a transaction,
even if you have sufficient available credit. We will not be liable to you if this
20. CREDIT INVESTIGATION AND REPORTING. You authorize us
to investigate and verify your credit, employment and income records. You
understand and agree that we may request a consumer report from a consumer reporting
agency in considering your Application for this Account and later in connection
with updates, renewals, extensions of credit, or to collect amounts owed on your
Account. Upon your request we will tell you whether a consumer report was
requested and the name and address of any consumer reporting agency that furnished
the report. You agree we may report your performance under this Agreement
to consumer reporting agencies and others who may properly receive the information.
If you believe we have reported inaccurate information about you to a consumer reporting
agency, please contact us at CHNB, P.O. Box 34216, Charlotte, NC 28234-4216.
When you notify us, provide your name, address, Cato Account Number and identify
the inaccurate information and tell us why you believe it is inaccurate. If
you have a copy of the credit report that includes the inaccurate information, please
send a copy of that report to us as well.
21. PHONE CALLS.
You authorize us or our servicers, assignees, or third party debt collectors to
contact you by telephone about your Account. You agree that we may contact
you using an automated dialing device (“Autodialer”) and that these
calls will not be “unsolicited” calls for the purpose of state or federal
law. When you give us a wireless telephone number, you consent to receiving
autodialed and prerecorded message calls from us or our servicers, assignees, or
third party debt collectors at that number. We may monitor and/or record telephone
calls between you and us to assure we are providing you with our high standard of
22. CANCELLATION. You
may cancel your Account by notifying us in writing at CHNB, P.O. Box 34216, Charlotte,
NC 28234-4216 and returning the Card to us cut in half. You will still be responsible
for paying any amount owed us according to the terms of this Agreement. We may cancel
or suspend your Account at any time for any reason without giving you notice
in advance unless we are required to give you notice by law. You still
must pay the full amount you owe us, and the Agreement will continue to apply to
any unpaid balance. The Card is our property. You must return it to us or our agent
upon request. If you want to cancel the authorized or permitted use of your
Account or the Card by another person, please notify us in writing at CHNB, P.O.
Box 34216, Charlotte, NC 28234-4216, recover, cut in half and return to us any Card
in such person’s possession.
23. CHANGE OF ADDRESS. You agree
to notify us promptly in writing if you have changes in your name, residence or
billing address. We will continue to send monthly statements and other notices
to the last address we have on file for your account until we receive and process
your new address. Any notice required by law will be deemed received if mailed
to your current address.
24. ASSIGNMENT OF ACCOUNT.
We may sell, assign, or transfer your Account or any portion thereof without notice
to you. You may not sell, assign, or transfer your Account.
25. ELECTRONIC CHECK
PROCESSING. When you provide a check as payment, you authorize
us either to use information from your check to make a one-time electronic fund
transfer from your account or to process the payment as a check transaction.
Funds may be withdrawn from your account as soon as the same day and you will not
receive the check back from your financial institution. If your check is returned
for any reason, you may have to pay a returned payment fee of up to $25.
GOVERNING LAW. You understand and agree that this Agreement is entered
into between you and us in North Carolina and any credit we extend to you is extended
from North Carolina. You further understand and agree that this Agreement
is governed only by applicable federal law and the law of the State of North Carolina,
whether or not you live in North Carolina and whether or not you use your credit
card in North Carolina.
NOTICE: Any holder of this consumer credit contract is subject
to all claims and defenses which the debtor could assert against the seller of goods
or services obtained pursuant hereto or with the proceeds hereof. Recovery
hereunder by the debtor shall not exceed amounts paid by the debtor hereunder.
OHIO RESIDENTS: The Ohio laws against discrimination require that
all creditors make credit equally available to all creditworthy customers and that
credit reporting agencies maintain separate credit histories on each individual
upon request. The Ohio Civil rights Commission administers compliance with
NEW YORK RESIDENTS: New York residents may contact
the New York State Banking Department at 1-800-518-8866 to obtain a comparative
listing of credit card rates, fees and grace periods.
No provision of any marital property agreement, unilateral statement under Wis.
Stat. Section 766.59 or a court decree under Wis. Stat. Section 766.70 shall adversely
affect the interest of CHNB unless CHNB, prior to the time credit is granted, is
furnished a copy of the agreement, statement or decree or has actual knowledge of
the adverse provision when the obligation to CHNB is incurred.
Item # 4-321 Rev. 11/10
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities,
Federal law requires all financial institutions to obtain, verify and record information
that identifies each person who opens an account. What this means for you: When
you open an account, we will ask for your name, address, date of birth, and other
information that will allow us to identify you. We may also ask to see your driver's
license or other identifying documents.
Your Billing Rights: Keep This Document For Future Use
This notice tells you about your rights and our responsibilities
under the Fair Credit Billing Act.
What To Do If You Find A Mistake
On Your Statement
If you think there is an error on your statement,
write to us at: Cedar Hill National Bank, PO Box 34216, Charlotte,
In your letter, give us the following information:
information: Your name and account number.
• Dollar amount:
The dollar amount of the suspected error.
• Description of problem:
If you think there is an error on your bill, describe what you believe is wrong
and why you believe it is a mistake.
You must contact us:
• Within 60
days after the error appeared on your statement.
• At least 3 business
days before an automated payment is scheduled, if you want to stop payment on the
amount you think is wrong. You must notify us of any potential errors in writing.
You may call us, but if you do we are not required to investigate any potential
errors and you may have to pay the amount in question.
What Will Happen After We Receive Your Letter
When we receive
your letter, we must do two things:
1. Within 30 days of receiving
your letter, we must tell you that we received your letter. We will also tell you
if we have already corrected the error.
2. Within 90 days of receiving your
letter, we must either correct the error or explain to you why we believe the bill
While we investigate whether or not there has been an error:
• We cannot try to collect the amount in question, or report you as delinquent
on that amount.
• The charge in question may remain on your statement,
and we may continue to charge you interest on that amount.
• While you
do not have to pay the amount in question, you are responsible for the remainder
of your balance.
• We can apply any unpaid amount against your credit
After we finish our investigation, one of two things will happen:
• If we made a mistake: You will not have to pay the amount in
question or any interest or other fees related to that amount.
• If we
do not believe there was a mistake: You will have to pay the amount in question,
along with applicable interest and fees. We will send you a statement of the amount
you owe and the date payment is due. We may then report you as delinquent if you
do not pay the amount we think you owe.
If you receive our explanation but still believe your bill is wrong,
you must write to us within 10 days telling us that you still refuse to pay.
If you do so, we cannot report you as delinquent without also reporting that you
are questioning your bill. We must tell you the name of anyone to whom we reported
you as delinquent, and we must let those organizations know when the matter has
been settled between us.
If we do not follow all of the rules above, you do not
have to pay the first $50 of the amount you question even if your bill is correct.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
If you are dissatisfied with the goods or services that you
have purchased with your credit card, and you have tried in good faith to correct
the problem with the merchant, you may have the right to not pay the remaining amount
due on the purchase. To use this right, all of the following must be true:
purchase must have been made in your home state or within 100 miles of your current
mailing address, and the purchase price must have been more than $50. (Note: Neither
of these are necessary if your purchase was based on an advertisement we mailed
to you, or if we own the company that sold you the goods or services.)
must have used your credit card for the purchase. Purchases made with cash advances
from an ATM or with a check that accesses your credit card account do not qualify.
3. You must not yet have fully paid for the purchase.
If all of the criteria
above are met and you are still dissatisfied with the purchase, contact us in writing
Cedar Hill National Bank
PO Box 34216
Charlotte NC 28234-4216
While we investigate,
the same rules apply to the disputed amount as discussed above. After we finish
our investigation, we will tell you our decision. At that point, if we think you
owe an amount and you do not pay, we may report you as delinquent.
What Does Cedar Hill National Bank (Issuer of the Cato Credit Card) Do With Your
Financial companies choose how they share your personal information. Federal law
gives consumers the right to limit some but not all sharing. Federal law also requires
us to tell you how we collect, share, and protect your personal information. Please
read this notice carefully to understand what we do.
The types of personal information we collect and share depend on the product or
service you have with us. This information can include:
• Social Security
number and account balances
• payment history and credit history
scores and transaction history
When you are no longer our customer, we
continue to share your information as described in this notice.
All financial companies need to share customers' personal information to run their
everyday business. In the section below, we list the reasons financial companies
can share their customers' personal information; the reasons Cedar Hill National
Bank chooses to share; and whether you can limit this sharing.
Reasons we can share your personal information
Does Cedar Hill Nat'l Bank Share?
Can you limit this sharing?
For our everyday business purposes – such as to process your transactions,
maintain your account(s), respond to court orders and legal investigations, or report
to credit bureaus
For our marketing purposes – to offer our products and service
We don't share
For joint marketing with other financial companies
We don't share
For our affiliates' everyday business purposes – information about your transactions
We don't share
For our affiliates everyday business purposes – information about your creditworthiness
We don't share
For nonaffiliates to market to you
We don't share
go to www.catofashions.com
Who we are
Who is providing this notice?
Cedar Hill National Bank
What we do
How does Cedar Hill National Bank protect my personal information?
To protect your personal information from unauthorized access and use, we use security
measures that comply with federal law. These measures include computer safeguards
and secured files and buildings.
How does Cedar Hill National Bank collect my personal information?
We collect your personal information, for example, when you:
• open an account
or give us your contact information
• pay us by check or show your driver's
• show your government-issued ID
We also collect your personal information
from others, such as credit bureaus, affiliates or other companies.
Why can't I limit all sharing?
Federal law gives you the right to limit only:
• sharing for affiliates' everyday
business purposes – information about your creditworthiness
from using your information to market to you
• sharing for nonaffiliates to
market to you
State law and individual companies may give you additional rights
to limit sharing.
Companies related by common ownership or control. They can be financial or nonfinancial
• Cedar Hill National Bank does not share with our affiliates.
Companies not related by common ownership or control. They can be financial or nonfinancial
• Cedar Hill National Bank does not share with nonaffiliates so
they can market to you.
A formal agreement between nonaffiliated financial companies that together market
financial products or services to you.
• Cedar Hill National Bank does not
Please print and save a copy of these terms and conditions for your records.