Your Promise to Pay:
You promise to pay us the amounts of all credit you obtain, which includes all Purchases. You also promise to pay us all the amounts of any other transactions charged to your account.
Payments on Your Account (If Applicable):
You must pay each month at least the Total Minimum Payment Due shown on your monthly statement by its Payment Due Date. Payments must conform to the requirements set out on that monthly statement; these requirements may vary without prior notice. You may pay the entire amount you owe us at any time. Payments made in any billing cycle that are greater than the Total Minimum Payment Due will not affect your obligation to make the next Total Minimum Payment Due. If you overpay or if there is a credit balance on your account. We will reject payments that are not drawn in U.S. dollars and those drawn on a financial institution located outside of the United States.
Payment Conversions (If Applicable):
We process most payment checks electronically. We use the information on your check to create an electronic funds transfer. Each time you send a check, you authorize a one-time electronic funds transfer. You also authorize us to process your check as a check or paper draft, as necessary. Funds may be withdrawn from your account as soon as the same day we receive your payment. You will not receive your cancelled check because we are required to destroy it. We will retain an electronic copy.
Minimum Payment Due (If Applicable):
You may pay your total outstanding balance at any time. With each billing cycle (30 days), you must pay at least the Total Minimum Payment Due shown on your monthly statement by its Payment Due Date. The Total Minimum Payment Due is the sum of all past due amounts plus the Current Payment. The Total Minimum Payment Due will not be greater than your New Balance Total. If a payment is credited to your account but is returned unpaid in a later billing cycle, we will recalculate the Total Minimum Payment Due for the billing cycle in which the payment was originally credited.
When Payments Are Credited (If Applicable):
We credit payments as of the date received, if the payment is: (1) received by 5 p.m. local time at the address shown on the remittance portion of your monthly statement; (2) paid with a check drawn in U.S. dollars on a U.S. financial institution or a U.S. dollar money order; and (3) sent in the return envelope with only the remittance portion of your statement accompanying it. Payments received after 5 p.m. local time at the remittance address on any day including the Payment Due Date, but that otherwise meet the above requirements, will be credited as of the next day. Credit for any other payments may be delayed up to five days.
Allocating Your Payments (If Applicable):
Payments are allocated to posted balances. Payment amounts in excess of your Total Minimum Payment Due will be applied to balances.
Your Promise to Pay (If Applicable):
All persons who initially or subsequently request, are granted, accept, guarantee or use the account are individually and together responsible for any total outstanding balance. If you are responsible to pay any total outstanding balance, we may refuse to release you from liability until all of the balance outstanding under the account have been paid to us including the total outstanding balance owed to us under the terms of this Agreement.
Default of this Agreement (If Applicable):
You will be in default of this Agreement if: (1) you fail to make any required Total Minimum Payment Due by its Payment Due Date; (2) your total outstanding balance exceeds your Total Credit Line; (3) you fail to abide by any other term of this Agreement. You will be deemed in default or delinquent if you fail to make a payment within 90 days of your Payment Due Date and will be reported to the credit bureau as per FCRA.
If We Require Immediate Repayment (If Applicable):
If you are in default, then in addition to our other remedies under this Agreement, we can require immediate payment of your total outstanding balance and, unless prohibited by applicable law, we can also require you to pay the costs we incur in any collection proceeding, as well as reasonable attorneys’ fees if we refer your account for collection to an attorney who is not our salaried employee.
Other Payment Terms (If Applicable):
We can accept late payments, partial payments, or payments with any restrictive writing without losing any of our rights under this Agreement. This means that no payment, including those marked with paid in full or with any other restrictive words, shall operate as an accord and satisfaction without our prior written approval. You may not use a postdated check to make a payment. If you do postdate a payment check, we may elect to honor it upon presentment or return it un-credited to the person that presented it, without in either case waiting for the date shown on the check. We are not liable to you for any loss or expense arising out of the action we elect to take.
Required Monthly Payments (If Applicable):
We may allow you, from time to time, to omit a monthly payment or make a reduced payment. We will notify you when these options are available. This will only occur on an isolated basis, such as when we are working with borrowers affected by a federally declared disaster. If in response to this notification, you omit a payment or make a reduced payment, interest charges, applicable fees, and other regular transactions, if any, will accrue on your account balances in accordance with this Agreement. The reduced payment amount may be less than your interest charges. You must make the reduced payment on time to avoid a Late Fee. You must resume making your regular Total Minimum Payment Due each month following any modifications made to your required minimum monthly payment.
Credit Availability (If Applicable):
Your Total Credit Line is disclosed to you when you receive your approval and, generally, on each monthly statement. The Total Credit Line is the amount of credit available for the account. We may change your credit lines from time to time. We base that decision on your payment and transaction history with us. The amounts shown on your monthly statement as available credit do not take into account pending purchases or credits which post to your account after the Closing Date of that monthly statement.
If You Exceed Your Credit Line (If Applicable):
The total outstanding balance on your account plus authorizations at any time must not be more than your Total Credit Line. Each time you attempt a transaction which results in your applicable outstanding balance (plus authorizations) exceeding a credit line, we may: (1) permit the transaction without raising your credit line; (2) permit the transaction and treat the amount of the transaction that is more than the credit line as immediately due; or (3) refuse to permit the transaction. If we refuse to permit the transaction, we may advise the person who attempted the transaction that it has been refused.
Suspended/Closed Accounts (If Applicable):
We may suspend or close your account or otherwise terminate your right to use your account. We may do this at any time and for late payment record reasons. Your obligations under this Agreement continue even after the account is closed.
Limitations / Warnings (If Applicable):
You may not use or permit your account to be used to make any illegal transaction. You will only use your account for transactions that are legal where you conduct them. We will not be liable if you engage in an illegal transaction.
Telephone Calls / Monitoring (If Applicable):
You consent to and authorize us, any of our affiliates, or our marketing associates to monitor and/or record any of your telephone conversations and other electronic communications with our representatives or the representatives of any of those companies for reasonable business purposes including security and quality assurance. We will not remind you that we may be monitoring or recording a call at the outset of the call unless required by law to do so. You allow us to review a consumer credit report if negative payments or charge offs occur on your account. Where you have provided a cell phone number directly to us, you consent and agree to accept servicing calls and text messages to your cell phone from us. For example, we may place calls to you about amounts you owe us (collection calls) on your account. For any telephone or cell phone calls/communications we place to you, you consent and agree that those calls may be automatically dialed including prerecorded messages or texts.
Collecting / Sharing Information (If Applicable):
You authorize us to collect information about you in order to conduct our business and deliver the top-quality service you expect, including information we receive about you, information we receive from third parties such as credit reporting agencies and information about your transactions with us and other companies. You authorize us to share such information about you or your account with our affiliates and others. You may have the right to opt out of some information sharing. For more details, please refer to our Privacy Notice.
We May Sell Your Account:
We may at any time, and without notice to you, sell, assign or transfer your account, any amounts due on your account, this Agreement, or our rights or obligations under your account or this Agreement to any person or entity. The person or entity to whom we make any such sale, assignment or transfer shall be entitled to all our rights and shall assume our obligations under this Agreement, to the extent sold, assigned or transferred.
Disputes After Fulfilling Our Contract:
Once the process has taken place, and we have connected you with a company who has agreed to establish a high limit credit line account for you, we have done our part. Once that company creates and establishes a high limit credit line account in the amount you choose, and submits the information to the credit bureaus, they have done their part. Neither Global Consulting Resources nor any company in our network who opens an account for you and reports to the credit bureaus has the ability to control the impact or outcome of your credit profile, or the algorithm the credit bureaus use to make calculations now or in the future. Your credit profile will be positively impacted organically just by adding a high limit credit line to your portfolio, and add to your overall credit worthiness as you were approved for a higher limit credit line, but there is no way to guarantee the amount your credit scores will increase now or in the future as a result of adding a positive, high limit credit reference.
For this reason, in the event you dispute the charge after we have performed our services, and you receive a refund after services have been rendered, we will immediately notify the company who established the account for you and they have the legal right to report as negative credit history or that it was fraudulently opened, at their discretion.
We Have the Right to Transfer Your Account:
We may at any time, and without notice to you, sell, assign or transfer your account, any amounts due on your account, this Agreement, or our rights or obligations under your account or this Agreement to any person or entity. The person or entity to whom we make any such sale, assignment or transfer shall be entitled to all of our rights and shall assume our obligations under this Agreement, to the extent sold, assigned or transferred.
This Agreement is made in MI and we extend credit to you from MI. This Agreement is governed by the laws of the State of MI (without regard to its conflict of laws principles) and by any applicable federal laws.
Provisions of this Agreement:
We use section headings (e.g., Types of Transactions) to organize this Agreement. The headings are for reference purposes only.
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.