CREDIT CARD IMPORTANT TERMS DISCLOSURE†Details of Rate, Fee and Other Cost Information
Account terms are not guaranteed for any period of time. All terms, including fees and APRs for new transactions, may change in accordance with the Credit Card Agreement and applicable law based on information in your credit report, market conditions, business strategies, or for any reason. Please review all of these materials so that you are fully informed about the terms of this credit card offer.
| Annual Percentage Rate (APR) for Purchases || 13.99% to 16.99%, based on your creditworthiness when you open your account. |
After that, your APR will vary with the market based on the Prime Rate.
| APR for Balance Transfers || 0% Introductory APR for the first 12 Statement Closing Dates following the opening of your account for transactions made within 60 days of opening your account. |
After that, your APR will be 13.99% to 16.99%, based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate.
| APR for Cash Advances || 0% Introductory APR for the first 12 Statement Closing Dates following the opening of your account for Direct Deposits made within 60 days of opening your account. |
After that, your APR for these transactions will be 13.99% to 16.99%, based on your creditworthiness when you open your account.
13.99% to 16.99%, based on your creditworthiness when you open your account, for Direct Deposit and Check Cash Advances, and
25.99% for Bank Cash Advances. See footnote 1 for explanation.
These APRs will vary with the market based on the Prime Rate.
| Penalty APR |
and When it Applies
| Up to 29.99%, based on your creditworthiness. |
This APR will vary with the market based on the Prime Rate.
This APR may be applied to new transactions on your account if you:
• Make a late payment.
How Long Will the Penalty APR Apply?: If your APRs are increased, the Penalty APR will apply indefinitely.
| How to Avoid Paying Interest on Purchases || Your due date is at least 25 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. |
| Minimum Interest Charge || If you are charged interest, the charge will be no less than $1.50. |
| For Credit Card Tips from the Consumer Financial Protection Bureau || To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore |
Please see the next page for a continuation of the Details of Rate, Fee and Other Cost Information.
| Annual Fee || None |
| Transaction Fees || |
| • Purchases || Purchases of wire transfers from a non-financial institution: |
Either $10 or 5% of the amount of each transaction, whichever is greater.
| • Balance Transfers || Either $10 or 3% of the amount of each transaction, whichever is greater. |
| • Cash Advances || Direct Deposit and Check Cash Advances: |
Either $10 or 3% of the amount of each transaction, whichever is greater.
ATM, Over-the-Counter, Same-Day Online and Cash Equivalent Cash Advances:
Either $10 or 5% of the amount of each transaction, whichever is greater. Overdraft Protection Cash Advances (if enrolled): None
| • Foreign Transactions || None |
| Penalty Fees || |
| • Late Payment || Up to $38 |
| • Returned Payment || Up to $27 | How We Will Calculate Your Balance:
We use a method called “average daily balance (including new purchases).”
Payments are allocated to posted balances. If your account has balances with different APRs, we will allocate the amount of your payment equal to the Total Minimum Payment Due to the lowest APR balances first. Payment amounts in excess of your Total Minimum Payment Due will be applied to balances with higher APRs before balances with lower APRs.
1 Bank Cash Advances include ATM, Over-the-Counter, Same-Day Online, Overdraft Protection and Cash Equivalent (money orders, foreign currency, travelers checks, or to obtain cash, from a non-financial institution, or person-to-person money transfers, bets, lottery tickets purchased outside the United States, casino gaming chips and bail bonds) Cash Advances.
More Information about Penalty Fees and Penalty APR
Penalty Fees: If your Total Minimum Payment Due is not received by your Payment Due Date, a Late Payment Fee of $27 will be assessed; $38 for subsequent occurrences that are within 6 billing cycles of a previous occurrence. However, the Late Payment Fee will not exceed the total minimum payment that was due. If your balance is $100 or less on the Payment Due Date, we will not assess a Late Payment Fee. The Returned Payment Fee will not exceed the total minimum payment that was due.
Penalty APR: Your Penalty APR will not exceed 29.99% on new transactions. There is no Penalty APR on existing balances.
The words “you” and “your” apply to each person who submits the application. You have read the accompanying application, and you affirm that everything you have stated is true and complete. You are at least 18 years of age or you are at least 21 years of age if a permanent resident of Puerto Rico. You authorize Bank of America, N.A. (hereinafter “us” or “our”) to obtain your credit report(s), employment history and any other information in order to approve or decline this application, service your account, and manage our relationship with you. If you ask, we will tell you the name and address of any consumer reporting agency that provided such report(s) to us. You consent to our sharing of information about you and your account with the organization, if any, endorsing this credit card program. You authorize us to share with others, to the extent permitted by law, such information and our credit experience with you. In addition, you may as a customer later indicate a preference to exempt your account from some of the information-sharing with other companies (“opt-out”). If you accept or use an account, you do so subject to the terms of this application, the “Details of Rate, Fee and Other Cost Information” and the Credit Card Agreement, as it may be amended; you also agree to pay and/or to be held jointly and severally liable for all charges incurred under such terms. Any changes you make to the terms of this application will have no effect. You understand that the Annual Percentage Rate you receive will be determined based on your creditworthiness. You understand that only a portion of your Total Credit Line will be available for Bank Cash Advances. You also understand that if you have existing credit card accounts with Bank of America, we may utilize the available credit on the existing account(s) to approve your new credit card which could include moving credit from an account with a lower annual percentage rate and/or fee structure to a higher annual percentage rate and/or fee structure without increasing your overall credit limit.
You accept that on a periodic basis your account may be considered for automatic upgrade at our discretion. You consent to and authorize us, any of our affiliates, or our marketing associates to monitor and/or record any of your phone conversations with any of our representatives. You further consent to our use of automatic dialers, text, or prerecorded messages for servicing your account. If additional development is necessary based on the application information provided, we will make every attempt to contact you.
MERRILL+® Points Program. How You Earn Merrill Points®:
You earn points when you use your card to make purchases, minus returns, credits and adjustments (“Purchases”). The following transactions are not considered Purchases and will not earn points: Balance Transfers and Cash Advances (each as defined in your Credit Card Agreement), fees, interest charges, fraudulent transactions and certain other charges. 1 Merrill Point:
Earn 1 point for every $1 of Purchases charged to the card each billing cycle. How You Use Your Points:
Redeem points for travel, cash rewards and gift cards. Anytime, Anywhere™ Air Rewards start at 25,000 Merrill Points for flights up to $500 (inclusive of taxes and fees). Cash rewards start at 3,000 Merrill Points and shall be issued for a U.S. dollar sum equal to 1% of the amount of Merrill Points redeemed in the form of a statement credit, an electronic deposit to a Bank of America®
checking or savings account or a contribution to an eligible Merrill Lynch Cash Management Account®
. The redemption value for gift cards varies. Points Forfeiture:
Your account must be open and in good standing to earn and redeem points. You will lose your points if the account is closed for any reason. Rewards Program Rules:
Program Rules containing additional details will be sent to you with your new account materials. Other significant terms apply. Program subject to change. Bonus Points Offer.
You will qualify for 50,000 bonus points if you use your new credit card account to make any combination of Purchase transactions totaling at least $3,000 (exclusive of any fees, returns and adjustments) that post to your account within 90 days of the account open date. Limit one (1) bonus points offer per new account. This one-time promotion is limited to new customers opening an account in response to this offer. Other advertised promotional bonus points offers can vary from this promotion and may not be substituted. Allow 8-12 weeks from qualifying for the bonus points to post to your rewards balance. The value of this reward may constitute taxable income to you. You may be issued an Internal Revenue Service Form 1099 (or other appropriate form) that reflects the value of such reward. Please consult your tax advisor, as neither we, nor our affiliates, provide tax advice. Card Benefits.
Certain restrictions apply to each benefit. Details accompany new account materials.
If the total amount you request exceeds your Total Credit Line, we may send full or partial payment to your creditors in the order you provide them to us. Allow at least 2 weeks from account opening for processing. Continue paying each creditor until the transfer appears as a credit. Balance Transfers incur interest charges from the transaction date. If you revolve your balance to take advantage of a promotional or introductory offer, all transactions and balances, including purchases, will be charged interest. The Balance Transfer fee is 3% of the amount of the transaction (min. $10). If you have a dispute with a creditor and pay that balance by transferring it to your new account, you may lose certain dispute rights. Balance Transfers may not be used to pay off or pay down any account issued by Bank of America, N.A., FIA Card Services, or its affiliates.
The information in this offer was accurate as of 07/28/2017 and may have changed. For current information, call toll-free at 866.438.6262.
To check on the status of your application, please wait at least two hours after you apply. Login to the following website: bankofamerica.com/cardappstatus.
The Bank of America® Privacy Notice is available at bankofamerica.com/privacy and accompanies the Credit Card Agreement.
This credit card program is issued and administered by Bank of America, N.A. Any account opened in response to this application shall be governed by the laws of the State of North Carolina. Deposit products and services are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. Visa and Visa Signature are registered trademarks of Visa International Service Association, and are used by the issuer pursuant to license from Visa U.S.A. Inc. Anytime, Anywhere is a trademark and MERRILL+, Merrill Lynch Cash Management Account, Merrill Points, the Bull Symbol, and Bank of America are registered trademarks of Bank of America Corporation. All rights reserved. All other company, product and service names may be trademarks or service marks of others and their use does not imply endorsement of, or association with this program. Investment
products: Are Not FDIC Insured, Are Not Bank Guaranteed, May Lose Value
MLPF&S is a registered broker-dealer, a registered investment adviser, member SIPC and a wholly owned subsidiary of BAC.
©2017 Bank of America Corporation. All rights reserved.
End of Printed Disclosures. In the event you are providing clients printed disclosures, please discard any pages that follow this page. The following disclosures must be read to clients only in the event you are not able to physically hand clients printed disclosures above.
MERRILL+ VISA SIGNATURE CREDIT CARD Disclosure Requirements
Associate: If Language Interpretation Services (Language Line) used, please have them read the following disclosure to the customer in the Non-English language:
Future verbal and written communications from the bank may be in English only. These communications may include account disclosures, account statements, changes in account terms or fees and any servicing of your account. May I proceed with taking your application?
The following 10 disclosure statements and opening and closing scripts must be read verbatim to the customer when accepting an application:
- Based on your creditworthiness when you open your account, the Annual Percentage Rates are 13.99% to 16.99% for Purchases and Balance Transfers; and 13.99% to 16.99% for Direct Deposit and Check Cash Advances. The APR for Bank Cash Advances is 25.99%. The Introductory APR for Balance Transfers and Direct Deposits made within 60 days of opening your account is 0% and will be in effect for the first 12 Statement Closing Dates. A Penalty APR of up to 29.99%, based on your creditworthiness, may be applied to new transactions on your account if you make a late payment. Your non-Introductory APRs will vary with the market based on the Prime Rate.
- Your due date is at least 25 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month. If you are charged interest, the charge will be no less than $1.50.
- We use a method called “average daily balance, including new purchases,” to calculate your balance. When applicable, we apply the minimum payment to lower APR balances before higher APR balances; amounts in excess of the minimum payment are applied to higher APR balances before lower APR balances. Payments are allocated to posted balances.
- Balance Transfers and Direct Deposit and Check Cash Advances are each subject to a 3% Transaction Fee, with a minimum of $10. ATM, Over-the-Counter, Same-Day Online and Cash Equivalent Cash Advances, and wire transfer purchases from a non-financial institution are each subject to a 5% Transaction Fee, with a minimum of $10. There is no Transaction Fee for Overdraft Protection Cash Advances.
- Only a portion of your Total Credit Line will be available for Bank Cash Advances.
- We and our affiliates may share certain information regarding this application and this account, to the extent permitted by law. Upon the opening of your account, you may indicate a preference to exempt the account from some of this information sharing.
- Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. We ask for your name, address, date of birth and other information that assists us in verifying your identity. Additional information or other documents may be requested.
- We may obtain your credit report, employment history and any other information in order to approve or decline this application, service your account, and manage our relationship with you. Upon request, we will inform you of the name and address of any consumer reporting agency that provided reports to us.
- We have the right to change your terms, including fees and the APRs for new transactions at any time, for any reason, in accordance with the Credit Card Agreement and applicable law.
- If you have existing credit card accounts with us, we may redistribute a portion of an existing credit limit to approve your request. This could mean that credit is moved from an account with a lower APR and/or fee structure to a higher APR and/or fee structure. May I proceed with your application?