Issued by The First National Bank of Lacon (the “Bank”), Member FDIC, pursuant to a license by Mastercard International Incorporated.
The Booster Card is a charge card product, and no interest is charged on any Booster Account balance. By default, any outstanding Credit Balance on your Booster Account is automatically repaid in full as further described in this Agreement. Any fees disclosed below are the only fees that apply to your Booster Account. Any defined terms used in this section, including the table below, are defined in Section II.A (Key Definitions) or elsewhere in this Agreement.
By default, any outstanding Credit Balance associated with your Booster Account is automatically repaid by ACH debit from your Linked Account every one (1) to five (5) Business Days after each Purchase settles. Auto-Repayment may be toggled on or off through the App at any time or by contacting us; however, you remain responsible for ensuring your full Credit Balance reflected on your Billing Statement is repaid by the Payment Due Date shown on your Billing Statement regardless of whether Auto-Repayment is enabled. If Auto-Repayment is disabled, Manual Repayment of any outstanding Credit Balance (or any portion thereof) is supported through the App. Any Credit Balance that remains outstanding at the close of a Billing Cycle will be reflected on your Billing Statement and is due and payable by the Payment Due Date shown on that statement, if not previously repaid through Auto-Repayment or Manual Repayment.
| Annual Fee | $0 — No annual fee. |
| Monthly Fee | $0 — No monthly fee. |
| Late Payment Fee | $0 — No late payment fee. |
| Returned Payment Fee | $0 — No returned payment fee. |
| Over-the-Spending-Limit Fee | $0 — Not applicable. Transactions exceeding your Spending Limit will be declined. |
| Balance Transfer Fee | Not applicable. Balance transfers are not available on the Booster Card. |
| Cash Advance Fee | Not applicable. Cash advances are not available on the Booster Card. |
| Foreign Transaction Fee | The greater of $ 1 or 1% of any transaction amount converted from a foreign currency to U.S. dollars. |
| Card Replacement Fee | $12 for a standard delivery, per replacement card. |
To learn more about factors to consider when applying for or using a credit card, such as the Booster Card, visit the website of the Consumer Financial Protection Bureau (“CFPB”) at http://www.consumerfinance.gov/learnmore.
Billing Rights: Information about your rights to dispute transactions and how to exercise those rights is provided in Section IV (Your Billing Rights) of this Agreement.
Your Booster Account and Booster Account Documents are only available electronically. By applying for the Booster Account, you have agreed to receive all agreements, disclosures, and other materials relating to the Booster Account electronically pursuant to the E-SIGN Consent that you received and acknowledged at the opening of your Booster Account. If you do not have the technology or systems required to receive disclosures electronically or do not have a valid email address or mobile phone number on file, we cannot provide the Booster Card to you. If you are unable to receive communications electronically in the future, we reserve the right to suspend or terminate your Booster Account.
Your ability to make Purchases with your Booster Card is governed by your Spending Limit, which is determined by the formula, as described further in Section II.C (Spending Limit) of the Agreement.
First, at account opening, the Bank determines your Initial Spending Limit through a cashflow-based underwriting assessment of your Linked Account bank account history obtained through Plaid or a similar service provider. Your Initial Spending Limit is a ceiling established at account opening and will be disclosed to you following completion of the onboarding process and opening of your Booster Account. No consumer credit report is pulled to determine your Initial Spending Limit.
Second, after account opening and assuming Auto-Repayment remains enabled, your Spending Limit at any given time equals the lesser of: (i) your Initial Spending Limit minus your outstanding Credit Balance and any Pending Transactions; and (ii) the last known balance of the Linked Account as refreshed through Plaid or another service provider, minus your outstanding Credit Balance and any Pending Transactions. This means your Spending Limit will fluctuate continuously based on your Linked Account balance and outstanding Credit Balance and Pending Transactions. If your Linked Account balance is lower than your Initial Spending Limit, your Linked Account balance will be the binding constraint on your spending capacity. If Auto-Repayment is disabled, your Spending Limit will be modified to the lower of fifty percent (50%) of your Initial Spending Limit or your Spending Limit in effect immediately prior to disabling Auto-Repayment for as long as Auto-Repayment remains disabled. You acknowledge and agree to this formula and the Auto-Repayment reduction as pre-disclosed contractual feature of your Booster Account.
Purchase Transactions that would exceed your Spending Limit will be declined. You will not be charged a fee for a declined Purchase. For a complete description of your Spending Limit and Linked Account requirements, see Section II.C (Spending Limit) and Section II.D (Linked Account Requirements) of this Agreement.
Federal law provides important protections to active-duty members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 (thirty-six) percent. This rate must include, as applicable to the credit transaction or account: the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account).
To hear this same disclosure and for a general description of your payment obligations for this Account, call the following toll-free number: +1 833-851-9335.
If you are a “covered borrower” under the Military Lending Act (32 C.F.R. § 232.3), then: (i) you are not bound by the Arbitration Agreement set forth in Section III of this Agreement or the class action and jury trial waivers therein; and (ii) notwithstanding anything to the contrary in this Agreement, to the extent required by the Military Lending Act, nothing in this agreement will be deemed a waiver of your right to legal recourse under any otherwise applicable provision of state or federal law.
California Residents: After credit approval, each applicant shall have the right to use the Booster Account up to the Spending Limit applicable to the Booster Account at the time of each transaction. Each applicant may be liable for amounts extended under the plan to any joint applicant.
Kentucky Residents: You may pay the unpaid balance of your Booster Account in whole or in part at any time.
New Jersey Residents: Because certain provisions of this Agreement are subject to applicable law, they may be void, unenforceable or inapplicable in some jurisdictions. None of these provisions, however, is void, unenforceable or inapplicable in New Jersey.
New York, Rhode Island and Vermont Residents: The Bank does not obtain a consumer credit report in connection with your application for a Booster Account or the Initial Spending Limit determination, which is based on cashflow-based underwriting using bank account history rather than a consumer credit report. The Bank may, however, obtain a consumer credit report for any legitimate purpose in connection with the ongoing management of your Booster Account, including reviewing, modifying, renewing, or collecting on your Booster Account, or in connection with other Bank services that you may use. Upon your request, the Bank will inform you of the names and addresses of any consumer reporting agencies that have furnished such reports.
Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that consumer reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
Married Wisconsin Residents: If you are married, by submitting your Booster Card application you are confirming that this Booster Card obligation is being incurred in the interest of your marriage and your family. No provision of a marital property agreement, unilateral statement under Section 766.59 of the Wisconsin Statutes, or court order under Section 766.70 of the Wisconsin Statutes adversely affects the interest of the creditor unless the creditor, prior to the time the 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 the creditor is incurred. If the Booster Card for which you are applying is granted, you will notify Bank if you have a spouse who needs to receive notification that credit has been extended to you.
Thank you for opening a Booster credit card account (the “Booster Account”). This Cardholder Agreement (the “Agreement”), together with the Rates and Fees Table in Section I (Important Disclosure Information) of the Agreement and all other Booster Account Documents provided to you at or before account opening, governs your use of the Booster Credit Card (the “Booster Card”) and your Booster Account. Your Booster Account is a credit account maintained by The First National Bank of Lacon (the “Bank”), Member FDIC, under which the Bank lends you money, which you agree to pay back to us, as described in the Agreement. Your Booster Card associated with your Booster Account is issued pursuant to a license by Mastercard International Incorporated.
In this Agreement, “we,” “us,” and “our” refer to the Bank as card issuer. “You” and “your” means the person who applied for and was approved for the Booster Account and Booster Card.
PLEASE READ THIS AGREEMENT CAREFULLY. By applying for a Booster Account, signing the Booster Card or otherwise using or consenting to the use of the Booster Account, you agree to the terms and conditions of this Agreement and that this Agreement will govern your Booster Account, the use of your Booster Card, and all credit extended under this Agreement. You also agree that your use of your Booster Account, whether by use of your Booster Card or otherwise, will constitute your acceptance of, and will be subject to, this Agreement. PLEASE SEE SECTION III FOR IMPORTANT INFORMATION ABOUT ARBITRATION AND CLASS ACTION AND JURY TRIAL WAIVER.
“ACH” means automated clearing house.
“App” means the mobile application and associated web portal operated by the Bank through which you access and manage your Booster Account and Booster Card.
“Authorization Hold” means a temporary reduction in your Spending Limit for authorized transactions that have not yet settled or posted to your Booster Account.
“Auto-Repayment” means the automatic repayment using ACH pull from your Linked Account (pre-authorized by you) initiated by the Bank to collect each Repayment Amount, as further described in Section II.F (Auto-Repayment and Manual Repayment) of this Agreement.
“Billing Cycle” means the interval between Billing Statements. Each Billing Statement shows a closing date, which is the last day of the Billing Cycle for that Billing Statement.
“Billing Statement” means the periodic statement provided to you showing your transactions, Credit Balance, Repayment Amount, and other Booster Account information for the applicable Billing Cycle.
“Booster Account” means your Booster credit card account maintained by the Bank, to which Purchases made with your Booster Card are posted and from which your Credit Balance and Spending Limit are calculated.
“Booster Account Documents” is defined in Section II.B below.
“Booster Card” means the physical or virtual Booster credit card, including all renewals and substitutions, issued to you in connection with your Booster Account under this Agreement.
“Business Day” means every day except Saturdays, Sundays, and federal holidays on which the Bank is closed.
“Credit Balance” means the total outstanding amount that you owe on your Booster Account at any given time, including all Purchases posted but not yet repaid, Returned ACH Debits and any fees that you may owe, minus any payments and credits received on the Booster Account. Your Credit Balance shall not be less than zero.
“Default” has the meaning given in Section II.I of this Agreement.
“Initial Spending Limit” means the maximum amount of credit established for your Booster Account at the time of account opening, as determined by the Bank through cashflow-based underwriting of your bank account history obtained through Plaid or another similar service provider, as described further in Section II.C of this Agreement. Your Initial Spending Limit represents the upper bound of your Spending Limit and does not fluctuate based on your Linked Account balance or Credit Balance but may be changed through a Bank-initiated credit decision.
“Linked Account” means the external U.S. deposit account, which is at least six (6) months old, that you link to your Booster Account at onboarding through Plaid open banking (or a similar service provided by another service provider), the balance of which impacts the calculation of Spending Limit, and from which Auto-Repayment is collected. Your Linked Account must be a deposit account held at a financial institution in your name that is insured by the Federal Deposit Insurance Corporation.
“Manual Repayment” means a voluntary payment of any portion of your outstanding Credit Balance initiated by you through the App prior to or in lieu of a scheduled Auto-Repayment.
“Payment Due Date” means the date that the Credit Balance amount as shown in the Billing Statement is due. Your Payment Due Date will be dependent on your billing cycle as shown on your Billing Statement.
“Pending Transaction” means a Purchase that has been authorized, but not yet fully cleared and posted to your Booster Account.
“Processing Period” means the three (3) calendar day period beginning when you submit a request to disable Auto-Repayment, during which Auto-Repayment may continue to be initiated for eligible transactions that have settled or otherwise become eligible for collection during such period.
“Purchase” means your purchase of goods or services using your Booster Card or Booster Account number, whether in person, online, by phone, or by any other means. Tax payments made with your Booster Card are Purchases. Cash advances are not Purchases and are not available on this Account.
“Repayment Amount” means (i) for Auto-Repayment, the full outstanding Credit Balance on your Booster Account at the time of collection; and (ii) for Manual Repayment, the amount you elect to pay, which may be any portion of your outstanding Credit Balance up to the full Credit Balance.
“Returned ACH Debit” means an ACH debit initiated in connection with the Booster Account that is returned, rejected, reversed, disputed, dishonored, or otherwise not successfully completed for any reason, including insufficient funds.
“Spending Limit” means the amount of credit available to you for new Purchases, calculated in the following manner when Auto-Repayment remains enabled, as the lesser of: (i) your Initial Spending Limit minus your outstanding Credit Balance and any Pending Transactions; and (ii) the last known balance of your Linked Account as refreshed through Plaid or another similar open banking provider, minus your outstanding Credit Balance and any Pending Transactions. If Auto-Repayment is disabled, your Spending Limit is modified to the lower of fifty percent (50%) of your Initial Spending Limit or your Spending Limit in effect immediately prior to disabling Auto-Repayment for as long as Auto-Repayment remains disabled, as described further in the Section II.C (Spending Limit) of this Agreement.
i. Booster Account Documents
The following Booster Account Documents govern your Booster Account: this Agreement, the Rates and Fees Table, Terms of Use, the E-SIGN Consent, any Linked Account ACH Debit Authorization (“ACH Debit Authorization”) that you provide to the Bank, the Bank’s Privacy Notice, all Billing Statements, and any other disclosures provided to you before or when you opened your Booster Account, and any future amendments or additions thereto provided to you in connection with your Booster Account. Please read these Booster Account Documents carefully and retain them for future reference.
ii. Booster Account Opening and Identity Verification
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. This means that when you open a Booster 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. This identifying information may be collected through the Ryze web portal, as described below, but all determinations as to whether this information satisfies our identification requirements are made by us.
Use of Information Collected by Bank. As part of your onboarding through the Ryze web portal, which is operated by Ryze Money, Inc. (“Ryze”), we may collect customer identification information and documentation, including information obtained through Plaid or another similar service provider, and other data (“Onboarding Information”). Some information in your application may be pre-populated using data from your Linked Account obtained through Plaid and/or similar service providers; you are responsible for reviewing and confirming the accuracy of all information, including any pre-populated information, before submitting your application. You acknowledge and agree that: (1) the Bank has engaged Socure (or similar service provider(s)) to perform identity verification and sanctions screening on the Bank’s behalf, for purposes of establishing your Booster Account, and Ryze’s role, as conducted through the Ryze web portal, is limited to collecting and transmitting Onboarding Information to the Bank; (2) all Customer Identification Program (“CIP”) determinations, account approval decisions, Know-Your-Customer (“KYC”) assessments, and cashflow-based underwriting determinations are made by the Bank; (3) the Bank retains final, non-delegable authority over all CIP, KYC, and underwriting decisions, and no Booster Account shall be opened and no Booster Card shall be issued unless and until the Bank has made a determination that the Onboarding Information satisfies the Bank’s CIP and underwriting requirements; and (4) the Bank may request additional information from you at any time and may decline to open, or may close, the Booster Account if such information is not provided.
Onboarding. You must satisfy our eligibility criteria to establish a Booster Account including receipt of at least 3 (three) payroll deposits, each exceeding $500 (United States Dollars Five Hundred only) into your Linked Account during the preceding 60 (sixty) day period. Our onboarding process includes identity verification, cashflow-based underwriting, and sanctions screening procedures performed on the Bank’s behalf, as may be updated from time to time. The onboarding process consists of two stages: (i) a web-based application flow through which you will link your Linked Account through Plaid or another similar service provider(s), complete the Bank’s cashflow-based underwriting assessment, and complete identity verification and OFAC screening through Socure or similar service provider(s); and (ii) a mobile App sign-up flow through which you will complete additional verification steps and activate your Booster Account through the App. If your application is denied following the cashflow-based underwriting assessment or the identity verification process, you will receive an adverse action notice as required by applicable law. You shall not be authorized to use your Booster Account or activate your Booster Card until you have received written confirmation, delivered through the App, that your Booster Account has been opened following completion of both stages of our onboarding process.
For the avoidance of doubt, completion of any stage of the onboarding flow does not by itself mean that a Booster Account has been opened in your name or that you are authorized to use your Booster Card. Please await to receive a written confirmation delivered through the App confirming that Booster Account has been fully approved and opened. The Booster Card will be made available through the App as a virtual card.
A physical Booster Card may be dispatched to your mailing address following the initial completion of your web-based application; however, you may not activate or use your physical Booster Card until you have received written confirmation through the App that your Booster Account has been fully approved and opened.
Accuracy and Updates. You represent that all information you provide to the Bank, either directly or through its authorized representatives, is accurate and complete. You agree to notify us promptly of any changes to your information, including name, address, or identifying information, through the App or by contacting customer support as detailed in Section II.N (Contact Information) of this Agreement. We will attempt to communicate with you only by use of the most recent information you have provided to us.
Authorization to Obtain and Verify Information. We may at any time during the Booster Account relationship obtain, verify, and record information that identifies you and confirms your ongoing eligibility to hold a Booster Account, as required by applicable law or our internal compliance policies, including our Bank Secrecy Act/anti-money laundering and sanctions obligations. You authorize us to obtain information about you from identity verification providers and other sources for these purposes, including through biometric, documentary, or other verification methods that we determine are reasonable. You agree to provide any additional information we request promptly. We may suspend or close your Booster Account if required information is not provided.
iii. Receiving and Activating Your Booster Card
Virtual Card. Upon completion of the Bank’s account opening process and receipt of written confirmation that your Booster Account has been opened, a virtual Booster Card will be made available to you through the App. You may add your virtual Booster Card to a compatible digital wallet (such as Apple Pay or Google Pay) for use at merchants that accept Mastercard contactless payments. Your virtual Booster Card is available for use immediately upon completion of your onboarding process and receipt of written confirmation that your Booster Account has been opened. Use of your Booster Card through a digital wallet is subject to the terms of this Agreement and to the digital wallet provider’s own terms and conditions. We are not responsible for the performance or security of any digital wallet. If your device is lost or stolen, contact us immediately using the contact information in Section II.N (Contact Information).
Physical Card. A physical Booster Card will be mailed to the mailing address that we have on file for you following completion of the web-portal portion of the Onboarding process. Please allow 5 (five) to 7 (seven) Business Days for delivery. Your physical Booster Card must be activated before use. You can activate your physical Booster Card through the App. When activating, you may be required to verify certain identifying information.
Selecting a PIN. When you initially activate your Booster Card, either virtual or physical, you will be prompted to select a personal identification number (“PIN”). You should keep your PIN confidential and should not write down or keep your PIN with your Booster Card. Additional information regarding PIN and account safety is provided in Section II.K (Security of Booster Card) of this Agreement. If you believe anyone has gained unauthorized access to your PIN, you must notify us immediately using the contact information in Section II.N (Contact Information) of this Agreement.
Managing Your Booster Card. The App enables you to manage certain Booster Card functionality, including activating your Booster Card, temporarily freezing and unfreezing your Booster Card, applying available spending controls, reporting your Booster Card as lost, stolen, or compromised, and requesting a replacement Booster Card. Temporarily freezing your Booster Card prevents new Purchases without cancelling your Booster Card, and unfreezing your Booster Card restores card functionality. Placing a freeze on your Booster Card does not extinguish or reduce your obligation to repay any outstanding Credit Balance.
iv. Card Expiration and Reissuance
Your Booster Card will have an expiration date printed on its face. You may not use your Booster Card after the expiration date has passed. The expiration date does not affect your Booster Account or your outstanding Credit Balance obligations. We will issue you a replacement Booster Card prior to the expiration date, provided that: (i) your Booster Account is in good standing; and (ii) your Booster Account has had transactional activity within the past six (6) months, as determined by the Bank in its sole discretion. Once you receive a replacement physical Booster Card, destroy your old physical Booster Card by cutting it into multiple pieces. Any virtual Booster Card associated with your prior Booster Card number will be deactivated upon reissuance. If you have added your Booster Card to a digital wallet, you may need to update your wallet with your new virtual Booster Card before making contactless payments. You will be required to activate your replacement Booster Card before use.
If you satisfy the conditions set forth above and do not receive a replacement Booster Card in a timely manner, please contact us using the contact information in Section II.N (Contact Information) of this Agreement.
If you need to replace your Booster Card for any reason before expiration (for example, if your Booster Card is lost or stolen), contact us using the contact information in Section II.N (Contact Information) of this Agreement. You will be required to provide personal information in order for us to verify your identity. A replacement card fee will apply as set forth in the Rates and Fees Table in Section I of this Agreement.
i. Initial Spending Limit
Your Initial Spending Limit is determined at account opening through cashflow-based underwriting using financial data from your Linked Account obtained through Plaid or another similar service provider. The Initial Spending Limit will be disclosed to you following completion of the onboarding process and opening of your Booster Account. We do not pull a consumer credit report to determine your Initial Spending Limit. Your Initial Spending Limit reflects our assessment using a decisioning engine that evaluates your Linked Account bank account history across multiple dimensions, including affordability, available funds, and financial need, among other factors.
Your Spending Limit, meaning the amount actually available to you for Purchases at any given time, is determined by: (a) the formula described below, which applies your Initial Spending Limit as one input alongside your Linked Account balance; and (b) whether Auto-Repayment is enabled. The Initial Spending Limit therefore represents the upper bound of your Spending Limit, which may be lower at any given time depending on your Linked Account balance, your outstanding Credit Balance, Pending Transactions, and whether you have disabled Auto-Repayment, as described in more detail below. We may increase, decrease, restrict, or cancel your Initial Spending Limit at any time. However, any Bank-initiated change to your Initial Spending Limit that adversely affects you and that is not the result of the formulas or factors described in this section constitutes a credit decision, and we will provide you with a written adverse action notice as described in Section II.C.iii (Adverse Actions) of this Agreement.
ii. Spending Limit
After the opening of the Booster Account, and when Auto-Repayment is enabled, your Spending Limit is determined as follows: lesser of: (i) your Initial Spending Limit minus your outstanding Credit Balance and any Pending Transactions; and (ii) the last known balance of your Linked Account as refreshed through Plaid or another similar service provider, minus your outstanding Credit Balance and any Pending Transactions. For purposes of determining your Spending Limit, the Bank will attempt to refresh the balance of your Linked Account through Plaid or another similar service provider at least once every twenty-four (24) hours. Your Spending Limit may not change immediately following a repayment. Please allow up to two (2) Business Days for your Spending Limit to reflect a confirmed Auto-Repayment or Manual Repayment. The balance information used to authorize Purchases reflects the last known balance from your Linked Account as of the most recent refresh and may not reflect all Pending Transactions or recent activity at the financial institution at which you hold your Linked Account. We are not responsible for any declined Purchases resulting from a discrepancy between your last known Linked Account balance and your actual available balance in your Linked Account at the time of a Purchase.
When Auto-Repayment is disabled, your Spending Limit will be modified to the lower of fifty percent (50%) of your Initial Spending Limit or your Spending Limit in effect immediately before Auto-Repayment is enabled effective immediately. This reduction reflects the increased credit risk to the Bank when Auto-Repayment is not in place and is a pre-disclosed contractual feature of your Booster Account. When you re-enable Auto-Repayment, your Spending Limit will revert to the Spending Limit available to you immediately before disabling Auto-Repayment. Your Spending Limit may not change immediately. Please allow up to two (2) Business Days for your Spending Limit to reflect the change arising from enabling Auto-Repayment.
Whether or not you have enabled Auto-Repayment, your Spending Limit may fluctuate continuously based on your Linked Account balance, your outstanding Credit Balance, and any Pending Transactions. Because your Spending Limit is governed by the formulas disclosed above, which you acknowledge and agree to at account opening as a contractual feature of your Booster Account, fluctuations in your Spending Limit resulting from changes in your Linked Account balance, your outstanding Credit Balance, your Pending Transactions, or the status of Auto-Repayment, do not constitute a credit decision or an adverse action by the Bank.
iii. Adverse Actions
Any Bank-initiated decrease in your Initial Spending Limit or Spending Limit, or any restriction on your Booster Account, that is not the result of the formulas or factors described in this section may constitute an adverse action under applicable law. In that case, we will provide you with a written adverse action notice within thirty (30) days identifying the principal reasons for the action. Any such change will not affect your obligation to repay any outstanding Credit Balance.
iv. Exceeding Your Spending Limit
Any transactions that you try to initiate on your Booster Card that would exceed your Spending Limit will be declined. You will not be charged a fee for a declined transaction. For more information on how Spending Limit affects transaction authorization, see Section II.E.iii (Authorization and Declination) of this Agreement.
Your Linked Account is central to the operation of your Booster Account; it is the source from which Auto-Repayments and Manual Repayments are collected and its balance is one of the two inputs used to calculate your Spending Limit as described in Section II.C (Spending Limit) of this Agreement. You must maintain a valid Linked Account at all times while your Booster Account is open. Your Linked Account must be a U.S. deposit account held in your individual name at a financial institution insured by the Federal Deposit Insurance Corporation, and must have sufficient available funds to cover Auto-Repayment collections when initiated by the Bank.
Failure to maintain a valid Linked Account is a Default event, as described in Section II.I (Account Default) of this Agreement. We may suspend your Booster Card immediately upon notification that your Linked Account is unavailable or has been closed, without prior notice.
As described in Section II.C.ii (Spending Limit) of this Agreement, the Bank attempts to refresh your Linked Account balance information through Plaid or another similar service provider(s) at least once every twenty-four (24) hours for purposes of calculating your Spending Limit and authorizing transactions. The balance information used to authorize transactions reflects the last known balance from your Linked Account as of the most recent refresh and may not reflect all Pending Transactions or recent activity at your Linked Account institution. We are not responsible for any declined transactions resulting from a discrepancy between your last known Linked Account balance and your actual available balance at the time of a transaction.
i. Permitted and Restricted Uses
Subject to your Spending Limit and as long as you are not in Default of this Agreement, you may use your Booster Card and your Booster Account to make Purchases at merchants that accept Mastercard credit cards, including:
You agree to use your Booster Card only for personal, family, or household purposes, only in accordance with this Agreement and applicable law, and only for lawful purposes. You may not obtain balance transfers from your Booster Account or initiate balance transfers to your Booster Account. The Bank and Mastercard prohibit the use of your Booster Card for illegal transactions, and you agree not to use your Booster Card for any illegal activity, including illegal gambling, money laundering, terrorist financing, or any other purpose prohibited by applicable federal, state, or local law. We reserve the right to refuse to allow you to use your Booster Card for certain transactions; for example, we will not permit your Booster Card to be used for illegal transactions or purchases, or for transactions that violate any term of this Agreement, or any other transaction about which we notify you in advance.
The Booster Card is a credit product subject to the Truth in Lending Act and its implementing Regulation Z. It is not a debit card and does not access a deposit account. All disclosures, agreements, and communications describe the Booster Card as a credit product, and you acknowledge that your Booster Account will be reported to consumer reporting agencies as a credit account as further described in Section II. L (Credit Reporting) below.
ii. No Cash Advances
Cash advances are not available on the Booster Card. You may not use your Booster Card or Booster Account to obtain cash from Automated Teller Machines (“ATMs”), financial institutions, or any other source. Transactions coded as cash advances, money orders, cryptocurrency, lottery tickets, gaming chips, or similar cash-equivalent items are blocked.
iii. Authorization and Declination
We reserve the right to decline to authorize any transaction for any reason, including insufficient Spending Limit, suspected fraud, illegal or unlawful activity, a belief that your Booster Card may have been compromised, a transaction inconsistent with your purchasing patterns, a Default of your Booster Account, or any other legal, risk management, security, or compliance reason. We can also refuse to authorize any transaction when your Booster Card has been reported lost or stolen or when we reasonably believe there may be fraudulent, suspicious, or illegal activity associated with your Booster Account or Booster Card. We are not liable to you for any declined transaction, and we are not responsible if any merchant refuses to accept your Booster Card.
When we authorize a Purchase, your Spending Limit will decrease by the authorized amount. Each time you use your Booster Card, you authorize us to extend credit to you for the amount of the transaction and any applicable fees, which will be added to your Credit Balance. You are not permitted to initiate transactions that would exceed your Spending Limit.
When a transaction is authorized using your Booster Card, we may place a hold on your Spending Limit for the authorized amount, which will be reflected as a Pending Transaction or Authorization Hold until the transaction settles, expires, or is otherwise released. Your Spending Limit may be reduced by the amount of any such Pending Transaction or Authorization Hold during this period.
An Authorization Hold will not exceed the authorized transaction amount, plus any amount permitted by applicable payment network rules for particular merchant categories, and will be released promptly following settlement of the transaction or upon expiration of the hold in accordance with applicable Mastercard network rules. An Authorization Hold will reduce your Spending Limit for several days, generally until the date on which the actual Purchase amount is received by us from the merchant and the Authorization Hold is released. Because such transactions may take several days to settle and post as a Purchase, you may see such amounts posted to your Booster Account even where your Booster Card has previously been suspended or your credit privileges have been cancelled or restricted.
iv. Foreign Currency Transactions
If you use your Booster Card for a transaction in a currency other than U.S. dollars, Mastercard will convert the transaction amount to U.S. dollars using its then-current exchange rate and procedures, which may differ from the rate in effect on the date of the transaction. If a third party, such as a merchant, converts the transaction amount into U.S. dollars before submitting it to the Mastercard network, that third party chooses the conversion rate rather than Mastercard. We are not responsible for any exchange rate selected by Mastercard or by any third party in connection with a foreign currency transaction. Any costs resulting from Mastercard’s conversion procedures, including the exchange rate selected, will be reflected in the Purchase posted to your Booster Account.
There are some countries in which we are required by law to block transactions, and some countries for which we will not authorize use of your Booster Card due to fraud, terrorism, sanctions, or other compliance concerns. The list of affected countries may change from time to time. If you are planning to use your Booster Card outside the United States, we recommend contacting us in advance using the contact information in Section II.N (Contact Information) of this Agreement to confirm that your Booster Card will be accepted in your destination country.
A Foreign Transaction Fee as set forth in the Rates and Fees Table may apply. In addition, Mastercard may separately assess a foreign exchange fee, which will be added to the transaction amount posted to your Booster Account. This fee is paid directly to Mastercard and is not subject to reimbursement by the Bank.
v. Pre-Authorized Recurring Merchant Transactions
You may authorize merchants to automatically initiate a Purchase on a recurring basis to your Booster Account. You are responsible for monitoring your Spending Limit to ensure sufficient credit is available for recurring transactions. We are not liable if a recurring transaction is declined due to insufficient Spending Limit or for any other reason.
If your Booster Card number or expiration date changes (for example, due to reissuance following loss, theft, or expiration), you may be required to contact the merchant to provide updated Booster Card information in order for recurring transactions to continue. You must also contact the merchant directly if you wish to cancel automatic billing arrangements. We are not responsible for any missed payments, late fees, or service interruptions resulting from your failure to update your Booster Card information with merchants or to cancel automatic billing arrangements directly with the merchant.
i. Your Promise to Pay
By using your Booster Card or Booster Account, you promise to pay us the full amount of all Purchases posted to your Booster Account, plus any applicable fees, whether through Auto-Repayment, Manual Repayment, or otherwise. You are obligated to pay for all transactions made using your Booster Card by any person you have authorized to use it, even if their use exceeds the authorization you gave them. Your obligation to repay your outstanding Credit Balance continues even if your Booster Card is suspended or cancelled or your Booster Account is closed, until your Credit Balance is paid in full. Your payment obligation is not affected by whether Auto-Repayment is enabled or disabled.
ii. How Auto-Repayment Works
Auto-Repayment. By default, the Booster Card is designed as a charge card that is repaid automatically and in full after each spend cycle. The Bank will initiate an Auto-Repayment one (1) to five (5) Business Days after each Purchase settles, through an ACH debit from your Linked Account pursuant to any ACH Debit Authorization provided by you at account opening or thereafter. The Auto-Repayment amount equals the full outstanding Credit Balance at the time of collection.
Recurring ACH Debits. By opening your Booster Account, linking your Linked Account, and providing ACH Debit Authorization, you authorize the Bank to initiate recurring ACH debits from your Linked Account in the amounts and at the times described in this Agreement, as detailed further in the ACH Debit Authorization.
Authorization of Varying Amounts. Each Auto-Repayment will equal your full outstanding Credit Balance at the time of collection, which will vary based on your Purchase activity and may include applicable fees and any previously failed or returned Auto-Repayment amounts being re-collected. Because each Auto-Repayment is authorized in the amount of your full outstanding Credit Balance at the time of collection, rather than in a fixed predetermined amount, no advance notice of the specific amount of each Auto-Repayment will be provided. You agree that the ACH Debit Authorization covers all such varying amounts without requiring separate advance notice, including amounts that reflect previously failed or returned Auto-Repayment collections being re-initiated, together with your current outstanding Credit Balance. No single Auto-Repayment will exceed your Initial Spending Limit plus any applicable fees disclosed in the Rates and Fees Table in Section I of this Agreement, except where a previously failed Auto-Repayment is being re-collected together with your current outstanding Credit Balance, in which case the total collection also will reflect such amounts.
Stop Payment on Individual Auto-Repayments. You have the right to stop payment on any individual scheduled Auto-Repayment by notifying us at least three (3) Business Days before the scheduled Auto-Repayment date using the contact information in Section II.N (Contact Information) of this Agreement. If you provide oral notice, we may require written confirmation within fourteen (14) days. Stopping an individual Auto-Repayment does not eliminate your obligation to pay your outstanding Credit Balance; if you stop an Auto-Repayment, you must pay your full outstanding Credit Balance by another means on or before the Payment Due Date shown on your Billing Statement, or your Booster Account will be in Default as described in Section II.I (Account Default) of this Agreement.
Suspending Auto-Repayments — Auto-Pay Toggle. If you wish to suspend all future Auto-Repayments without stopping a specific scheduled transfer, you may toggle Auto-Repayment off through the App at any time, as described in Section II.F.iii (Auto-Pay Toggle) of this Agreement. Toggling Auto-Repayment off does not revoke your ACH Debit Authorization. Any authorizations that you provide remain in place and Auto-Repayments will resume automatically if you re-enable Auto-Repayment.
iii. Auto-Pay Toggle
You may toggle Auto-Repayment on or off at any time through the App or by contacting customer support. Turning Auto-Repayment off does not stop any Auto-Repayment that has already been initiated, and only Auto-Repayments not yet initiated at the end of the Processing Period are affected. If you turn Auto-Repayment off, the Processing Period will apply, and you remain responsible for paying your full outstanding Credit Balance by the Payment Due Date shown on your Billing Statement through Manual Repayment or otherwise.
Turning Auto-Repayment off does not eliminate your payment obligation. It only changes the collection mechanism from automatic ACH debit repayment to Manual Repayment and will impact your Spending Limit as described in Section II.C above. If you turn Auto-Repayment off and fail to pay your full outstanding Credit Balance by the Payment Due Date, your Booster Account will be in Default as described in Section II.I (Account Default) of this Agreement. We recommend keeping Auto-Repayment enabled.
iv. Manual Repayments
If Auto-Repayment is disabled or turned off, you may make a Manual Repayment of your outstanding Credit Balance. In the event you disable Auto-Repayment, the Processing Period will apply. During the Processing Period, Auto-Repayments by ACH debit may continue automatically for eligible transactions that have already settled or become eligible for collection during the Processing Period, and you will not be able to re-enable Auto-Repayment. After the Processing Period ends, the Bank will not initiate further Auto-Repayments for transactions that settle after such period unless you re-enable Auto-Repayments or otherwise provide affirmative authorization through the methods described in the Section II.N (Contact Information) of this Agreement.
Disabling Auto-Repayment does not eliminate or reduce your obligation to repay your outstanding Credit Balance. You remain responsible for paying your full outstanding Credit Balance by the Payment Due Date shown on your Billing Statement, whether through Manual Repayment, a returned or reversed Auto-Repayment that you must cure, or otherwise. Manual Repayments can be made through the App in U.S. dollars from your Linked Account. Manual Repayments are applied to reduce your Credit Balance upon confirmed receipt.
While Auto-Repayment is disabled, your Spending Limit will be reduced automatically as disclosed in Section II.C (Spending Limit) of this Agreement.
v. Payment Due Date
Your Payment Due Date is shown on your Billing Statement and falls twenty-four (24) to twenty-seven (27) days after the closure of each Billing Cycle. If your full outstanding Credit Balance is not paid by the Payment Due Date, whether through Auto-Repayment, Manual Repayment, re-presentment, or otherwise, your Booster Account will be in Default as described in Section II.I (Account Default) of this Agreement.
vi. Returned Repayments
Your Credit Balance will be reduced only upon confirmed settlement of each Auto-Repayment, and not merely upon initiation of the ACH debit payment. When an ACH debit payment is initiated, a hold is placed and your available Spending Limit is not restored immediately. Your available Spending Limit is restored once the ACH debit payment is deemed successful, which generally occurs when no return is received within the applicable ACH return window (typically up to two (2) Business Days for Same-Day ACH).
If an Auto-Repayment is returned by the financial institution at which your Linked Account is held or fails for any reason, including insufficient funds, account closure, or a payment stop, the following consequences will apply: (a) your Credit Balance will be reinstated to your Booster Account; (b) for a Returned ACH Debit, we will reattempt collection by ACH debit subject to the reinitiation limits of the NACHA Operating Rules; (c) your Booster Card will be suspended, and your Booster Account may be considered in Default. You must restore your outstanding Credit Balance by making a Manual Repayment through the App promptly upon notification in accordance with the notice that we provide to you. Where a Returned ACH Debit occurs, the Bank may automatically retry the returned amount in the next settlement-day ACH batch for Returned ACH Debit. After two (2) consecutive Returned ACH Debits, (i) automatic retries will cease, (ii) your Booster Card will be temporarily blocked, and (iii) no further transactions will be permitted until you repay the full Credit Balance by Manual Repayment through the App. Your Booster Card access will be restored once the Manual Repayment is confirmed as successful.
vii. Irregular Payments
We may accept late payments, partial payments, or payments marked “payment in full” or with other restrictive notations without losing any of our rights under this Agreement, including the right to require full payment of all amounts owed. Acceptance of a partial payment does not constitute satisfaction of your full Credit Balance or waiver by us of any Default that may have occurred.
Each month while your Booster Account is open, we will provide you with a Billing Statement at the end of each Billing Cycle. Among other things, your Billing Statement will show:
Billing Statements will be delivered electronically through the App or to your email address on file, in accordance with your E-SIGN Consent. A Billing Statement is considered delivered when it is sent or made available electronically, even if you do not access or view it. We may discontinue sending Billing Statements to you if we deem your Booster Account to be uncollectible or if we send your Booster Account to an attorney or other third party for collection purposes.
You must review your Billing Statements promptly and notify us of any errors or unauthorized transactions as described in Sections II.G and IV of this Agreement.
The Booster Card is designed as a no-interest, limited fee credit card product. No periodic rate is used to compute a finance charge, and no interest accrues on any Booster Account balance. The Booster Card has no annual fee, no monthly maintenance fee, no late payment fee, no returned payment fee, and no over-the-spending-limit fee. Cash advances and balance transfers are not available on the Booster Card, and no fees are imposed in connection with those features.
The following fees may apply to your Booster Account:
We may charge fees for other services associated with your Booster Account that you request, in accordance with applicable law, and will notify you of any such fees before they are imposed. We may change the fees applicable to your Booster Account upon prior notice to you as required by applicable law and in the manner described in Section II.O (Changes to This Agreement) of this Agreement.
i. Events of Default
Subject to applicable law, your Booster Account will be in “Default” if any of the following occur:
ii. Consequences of Default
If your Booster Account is in Default, we may, without notifying you unless required by applicable law, take any or all of the following actions:
iii. Our Rights Upon Default
Upon any Default, we may declare your full outstanding Credit Balance immediately due and payable. Our rights under this Agreement are in addition to any other rights we have under applicable law. If we waive or delay exercising any right upon a Default, we do not forfeit that right or any other right under this Agreement. Such forbearance, whether on one occasion or repeatedly, shall not constitute a waiver of, or preclude our future exercise of, any right under this Agreement. You waive, to the maximum extent permitted by applicable law, any right to require us to proceed against any other person or to exhaust any other remedy before proceeding against you for collection of your outstanding Credit Balance.
i. Cancellation by You
You may cancel your Booster Account at any time by contacting us through the App or using the contact information in Section II.N (Contact Information) of this Agreement. We will cancel your Booster Account after we receive notice from you and have had a reasonable opportunity to process your notice. You agree that we are not responsible for any costs, damages, or inconvenience you may suffer as a result of the cancellation of your Booster Account or Booster Card. Upon cancellation of the Booster Card by you, the Credit Balance will become due and payable in full. We will provide you with a final Billing Statement reflecting your outstanding Credit Balance, which will be due by the Payment Due Date shown on that statement.
ii. Cancellation or Suspension by Us
Even if your Booster Account is not in Default, we may in our sole discretion at any time, with or without cause and with or without advance notice, subject to applicable law:
We may take any of these actions for any reason, including but not limited to:
We will provide you with notice of any such action to the extent required by applicable law.
Any suspension, restriction, or cancellation of your Booster Account or Booster Card does not affect your obligation to repay your outstanding Credit Balance in full. Where we have suspended or restricted your Booster Account or Booster Card pending our review of a matter, including suspected fraud, unauthorized activity, or a returned Auto-Repayment, we will, following the completion of our review, either lift the suspension and restore your Booster Card functionality to the extent the matter has been resolved to our satisfaction, or take such further action as we determine appropriate, including permanent cancellation of your Booster Card, in accordance with this Agreement and applicable law.
iii. Effect of Closure or Cancellation
If either you or we close or cancel your Booster Account for any reason:
Upon closure, we will make a final settlement of your Booster Account and provide you with a closing Billing Statement reflecting your final Credit Balance and any remaining obligations.
iv. No Waiver by Forbearance
Our decision not to immediately exercise any right described in this section (whether on one occasion or repeatedly) shall not constitute a waiver of that right or preclude our future exercise of it.
i. Protecting Your Booster Card and Credentials
You must take reasonable steps to safeguard your Booster Card, Booster Account credentials, and any device used to access your Booster Account, and to prevent their loss, theft, or misuse. You may not share your Booster Card, Booster Account number, or App credentials with any other person. The Booster Card is issued solely to the individual applicant approved for the Booster Account, and no authorized user functionality is available at this time.
Notwithstanding the prohibition on sharing your Booster Card or credentials, if you permit another person to use your Booster Card or Booster Account, you are responsible for all transactions made by that person, whether or not you intended to benefit from those transactions. Your responsibility continues until you notify us that the person is no longer authorized and we have had a reasonable time to act on your notice. This applies even if that person uses your Booster Card or Booster Account beyond the scope of the permission you gave.
ii. Lost, Stolen, or Compromised Booster Card
If your Booster Card, Booster Account number, or App credentials are lost, stolen, or compromised, contact us immediately using the contact information in Section II.N (Contact Information) of this Agreement. We may require a written statement or other information to support your claim. We will cancel your Booster Card and issue a replacement; a card replacement fee may apply as set forth in the Rates and Fees Table.
iii. Your Liability for Unauthorized Transactions
Your liability for unauthorized transactions on your Booster Account is governed by applicable law, including the Truth in Lending Act, Regulation Z, and the Fair Credit Billing Act. Unauthorized transaction means any transaction involving the use of a credit card by a person, other than the cardholder, who does not have actual, implied, or apparent authority for such use, and from which the cardholder receives no benefit, and does not include use of your Booster Card or Booster Account by a person to whom you gave actual, implied, or apparent authority to use it, unless you have notified us that transactions by that person are no longer authorized. You will not be liable for more than $50.00 for unauthorized transactions occurring before you notify us. Mastercard’s zero liability protection may reduce this amount to $0.00 where certain conditions are met.
If you believe your Booster Card, Booster Account number, or App credentials have been lost, stolen, or used without your permission, notify us AT ONCE using the contact information in Section II.N (Contact Information) of this Agreement. We may ask you to confirm your report in writing and to provide your name, Booster Account number, the dollar amount and date(s) of the suspected unauthorized transaction(s), and the basis for your belief that the transaction(s) were unauthorized. Contacting us immediately is the best way to keep your potential losses to a minimum.
Upon receiving your report, we will investigate the claimed unauthorized transaction(s). We may request a written statement from you to complete our investigation. If we determine that a transaction was an unauthorized transaction, we will remove your liability for that transaction consistent with the above, and, where applicable, adjust your Booster Account accordingly. If we determine that a transaction was not an unauthorized transaction, we will explain the basis for that conclusion and you will remain responsible for the transaction, subject to your rights under Section IV (Your Billing Rights) of this Agreement for any related billing error dispute.
i. Bureau Reporting
The Bank will report information about your Booster Account to consumer reporting agencies like TransUnion, Experian, and Equifax. Bureau reporting may not begin at the time your Booster Account is opened. Reporting will commence once certain operational requirements for bureau reporting have been satisfied. We will notify you when bureau reporting becomes active in connection with your Booster Account. On-time repayments and other account activity occurring prior to the commencement of bureau reporting will not be reported retroactively.
Your Booster Account is reported to consumer reporting agencies as an open unsecured credit card with a credit limit of $0, regardless of your applicable Spending Limit. This reporting is done intentionally. Reporting a $0 credit limit means your Booster Account will not generate a credit utilization ratio on your credit report. Your payment history, including on-time payments, late payments, missed payments, and other account activity, will be reported each month after your Billing Cycle closes and can affect your credit score. On-time payment history accumulates with each reporting cycle and will be reflected in your credit report. Late payments, missed payments, returned payments, charge-offs, and other adverse account events may also be reported and may negatively affect your credit score.
ii. Third-Party Scores
Through its other services, the Bank may make your credit score or credit monitoring information available through the App via third-party providers, such as TrueEmpower. Such scores are provided for informational purposes only and may differ from scores used by lenders or other third parties in their own credit decisions.
iii. Obtaining Credit Information
We do not obtain a consumer credit report in connection with your application for a Booster Account or your Initial Spending Limit determination, which is based on cashflow-based underwriting using bank account history rather than a consumer credit report. We may, however, obtain information about you from identity verification providers and other sources as permitted by applicable law in connection with issuance and managing your Booster Account. We may also obtain a consumer credit report for any legitimate purpose in connection with the ongoing management of your Booster Account, including reviewing, modifying, renewing, or collecting on your Booster Account. You authorize us to obtain such information at any time during the Booster Account relationship, subject to applicable law.
iv. Rights under FCRA
You have certain rights under the Fair Credit Reporting Act (“FCRA”), including:
(a) the right to know if information in your credit file has been used against you in connection with a credit decision;
(b) the right to access your credit file from each of the nationwide consumer reporting agencies;
(c) the right to dispute incomplete or inaccurate information in your credit report;
(d) the right to have inaccurate, incomplete, or unverifiable information removed or corrected; and
(e) the right to seek damages from violators of the FCRA.
v. Disputing Inaccurate Information
If you believe we have reported inaccurate information about your Booster Account to a consumer reporting agency, please notify us in writing using the contact information in Section II.N (Contact Information) of this Agreement. Your notice should identify the specific information you believe is inaccurate and explain why you believe it is incorrect. We will investigate your claim and, if we confirm that inaccurate information was reported, we will contact the applicable consumer reporting agency to request a correction. You may also dispute inaccurate information directly with the consumer reporting agency under your rights as a consumer under the FCRA.
The Bank does not guarantee, in connection with your use of the Booster Account:
(a) any improvement in your credit score or credit profile;
(b) approval for any financial product or service, whether offered by the Bank, or any third party; or
(c) that responsible use of your Booster Account, timely Auto-Repayments, or any other actions taken by you will result in any particular credit outcome.
Your credit score and credit profile are determined by consumer reporting agencies based on numerous factors, many of which are outside the Bank’s control. Although on-time payment history reported in connection with your Booster Account may contribute positively to your credit profile over time, individual results will vary.
For questions, to report an unauthorized transaction, to request a replacement Booster Card, or for any other purpose described in this Agreement, please contact us using any of the following methods:
| Contact Method | Information |
|---|---|
| In-App | Contact customer support through the App (primary channel) |
| Telephone | Bank: +1 833-851-9335 |
| Mailing Address | Bank: First National Bank of Lacon, 111 South Broad Street, Lacon, IL 61540 |
| Customer Support Availability | Hours |
|---|---|
| Business Days / Hours | Bank: Monday through Friday from 9:30 AM to 5:30 PM ET, excluding federal holidays |
You agree that we may contact you regarding your Booster Account or Booster Card by any communication method that we may use from time to time, including telephone calls, text messages, emails, and push notifications through the App, at any telephone number, email address, or device associated with your Booster Account. You understand that these communications may include calls or text messages placed using an automatic telephone dialing system or an artificial or prerecorded voice. You may opt out of non-essential marketing communications at any time by contacting us through the App or our customer support telephone number, but you acknowledge that we may continue to send you transactional, servicing, and legally required communications regardless of any such opt-out election. This consent survives the closure of your Booster Account and/or cancellation of your Booster Card to the extent necessary to complete any pending transactions or resolve any open disputes.
You are responsible for keeping, and agree to keep, your contact information current, including your email address and mailing address. If you change your contact information, you must update it promptly, and in any event within five (5) Business Days through the relevant email provided in the App or by contacting customer support as detailed above.
We may add, delete, or change any term of this Agreement at any time as permitted by applicable law. We will give you advance notice of any changes as required by applicable law, including the Truth in Lending Act and Regulation Z. Notice may be provided through the App, by email, or by any other method consistent with your E-SIGN Consent. If you do not reject a change within the time period and manner specified in our notice, or if you continue to use your Booster Card or Booster Account after the change becomes effective, you will be deemed to have accepted the change. If you reject a change, we may terminate your Booster Account and require you to pay your remaining Credit Balance in full.
i. Limitation of Liability
If we fail to properly complete a transaction on time or in the correct amount in accordance with this Agreement, we will be liable for your actual proven direct damages, provided that such failure resulted from our bona fide error despite our maintenance of procedures reasonably designed to avoid such errors. In no event shall our liability exceed the amount of the transaction at issue.
We will not be liable for any failure or delay in completing a transaction where: the failure results from circumstances beyond our reasonable control, including failures of the Mastercard network, ACH system, or third-party systems not caused by our failure to maintain adequate systems; you had insufficient Spending Limit to complete the transaction; a merchant or third party refused to accept or honor your Booster Card; we declined to authorize the transaction for any reason permitted by this Agreement; or access to your Booster Card or Booster Account had been suspended or cancelled in accordance with this Agreement.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, WE ARE NOT LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO YOUR BOOSTER ACCOUNT OR BOOSTER CARD, REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE OR WHETHER WE HAD BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
ii. Indemnification
You agree to indemnify, defend, and hold harmless the Bank and its affiliates, employees, directors, officers, and subcontractors from and against any losses, liabilities, claims, and costs (including reasonable attorneys’ fees) arising from: (i) your use or misuse of your Booster Card or Booster Account; (ii) your breach of any term of this Agreement; or (iii) any instructions provided by you that the Bank followed using reasonable procedures.
iii. Consumer Protection Rights Preserved
Nothing in this section limits your rights under the Truth in Lending Act, the Fair Credit Billing Act, Regulation Z, the Equal Credit Opportunity Act, or any other applicable federal or state consumer protection law. Your rights with respect to unauthorized transactions, billing errors, and error resolution are fully preserved as described in Section IV (Your Billing Rights) of this Agreement.
The Bank hereby notifies you that Ryze will act as a key service provider to the Bank in connection with the Booster Card Program and will provide certain services, including, without limitation, marketing and servicing of the Booster Card program, development, operation, and maintenance of the Bank’s mobile application and web portal, customer support services, Booster Card production and fulfillment, and delivery of Billing Statements. The Bank retains ultimate responsibility for your Booster Account as issuer of the Booster Card and creditor under the Truth in Lending Act and Regulation Z. We may share your information with Ryze as described in our Privacy Policy provided to you as part of the Booster Account Documents.
i. Entire Agreement
This Agreement, together with the Booster Account Documents, constitutes the entire agreement between you and us with respect to your Booster Account and Booster Card and supersedes all prior or contemporaneous written or oral communications relating to the Booster Account. This Agreement does not govern any deposit account relationship you may have with the Bank, which is governed separately by the applicable deposit account agreement.
ii. Governing Law
This Agreement is governed by federal law and, to the extent not preempted, the laws of the State of Illinois applicable to contracts made and performed in Illinois, without regard to conflict-of-laws principles. The Bank is a nationally chartered bank headquartered in Illinois, and the credit account relationship related to this Agreement is entered into and administered in Illinois. Your rights under the Truth in Lending Act and Regulation Z, the Fair Credit Billing Act, the Equal Credit Opportunity Act, and other applicable federal consumer protection laws are not affected by the choice of Illinois law.
iii. Assignment
You may not assign or transfer your Booster Account or this Agreement without our prior written consent. We may assign or transfer this Agreement or any of our rights hereunder, including by sale of your Booster Account, to any affiliate, successor, or acquirer without your consent and without prior notice, provided that any such assignment does not reduce your rights under applicable law.
Any assignee will succeed to all of our rights and remedies under this Agreement to the fullest extent permitted by law. You agree not to assert against any assignee any claims or defenses you may have against us, except as otherwise required by applicable law. You must pay them and perform all of your obligations to them and not us. If you pay us after we notify you that we have transferred your Booster Account or this Agreement, we can return the payment to you, forward the payment to the assignee, or handle it in another way that is reasonable.
iv. Severability
If any provision of this Agreement is held invalid, illegal, or unenforceable, that provision shall be modified to the minimum extent necessary to make it enforceable, and all remaining provisions shall continue in full force and effect.
v. Non-Waiver
Our failure to enforce any right or provision of this Agreement at any time does not constitute a waiver of that right or provision. No waiver of any term is effective unless made in writing. A waiver of any particular breach does not waive any subsequent breach of the same or any other provision.
vi. Force Majeure
We are not liable for any failure or delay in performing our obligations to the extent caused by circumstances beyond our reasonable control, including natural disasters, acts of government, telecommunications failures, or failures of third-party systems including the Mastercard network or ACH system, provided those failures do not result from our failure to maintain adequate systems or business continuity plans. This provision does not affect your rights under the Truth in Lending Act, the Fair Credit Billing Act, Regulation Z, or any other applicable consumer protection law.
vii. Disclaimer
We are not responsible if any merchant or other third party refuses to accept or honor your Booster Card or Booster Account, even if you have sufficient Spending Limit available at the time of the transaction. Except as required by applicable law, we are not responsible for any claim or defense you may have against any merchant or third party arising out of or in connection with any transaction made with your Booster Card or Booster Account, or any goods, services, or other property purchased or leased using your Booster Card or Booster Account. We are not liable to you for any losses you incur as a result of our declining to authorize a transaction, regardless of the reason for the declination.
IMPORTANT NOTICE: THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION AND A WAIVER OF CLASS ACTION RIGHTS THAT AFFECT YOUR LEGAL RIGHTS. PLEASE READ IT CAREFULLY. EXCEPT AS DESCRIBED BELOW, DISPUTES BETWEEN YOU AND US WILL BE RESOLVED BY INDIVIDUAL, BINDING ARBITRATION RATHER THAN IN COURT. YOU HAVE THE RIGHT TO OPT OUT OF THIS ARBITRATION AGREEMENT AS DESCRIBED IN SECTION III.E BELOW. THIS ARBITRATION AGREEMENT DOES NOT APPLY TO YOU IF YOU ARE A “COVERED BORROWER” UNDER THE MILITARY LENDING ACT AT THE TIME YOU BECOME PARTY TO THIS AGREEMENT.
This Arbitration Agreement (this “Arbitration Agreement”) is part of, and incorporated into, the Agreement. Capitalized terms not defined in this Arbitration Agreement have the meanings given to them elsewhere in the Agreement.
You and we agree that either party may elect to resolve any Dispute (as defined in Section III.B below) through binding, individual arbitration instead of in court, as set forth in this Arbitration Agreement. This Arbitration Agreement is governed by the Federal Arbitration Act, 9 U.S.C. §§ 1–16 (the “FAA”), and evidences a transaction involving interstate commerce. If a Dispute is submitted to arbitration by either party, the other party is bound to arbitrate under the terms of this Arbitration Agreement.
“Dispute” means any claim, controversy, or dispute between you and us, or between you and any Indemnified Party, arising out of or relating in any way to: the Agreement (including its formation, validity, or breach); your Booster Account or Booster Card; any application for, use of, or denial of the Booster Account; any fees, interest, or charges assessed on the Booster Account; any advertising, marketing, or disclosures relating to the Booster Account; or any other aspect of the relationship between you and us or an Indemnified Party, whether the Dispute is based in contract, tort, statute, regulation, or any other legal theory, and regardless of whether the Dispute arose before, arises during, or arises after termination of the Agreement. “Dispute” is to be given the broadest reasonable meaning and includes claims that could otherwise be brought in a court of law.
“Indemnified Parties” means the Bank, together with its parents, subsidiaries, and affiliates, and each of their officers, directors, employees, and agents, as well as any third-party service providers, licensors, or assignees involved in providing or supporting the Booster Account (including any network, processor, or collection agency acting on the Bank’s behalf).
This Arbitration Agreement applies to all Disputes except those specifically excluded in Section III.D (Small Claims Court Exception) below. It applies regardless of whether a Dispute is brought by you, the Bank, or another Indemnified Party.
If a Dispute involves an Indemnified Party who is not a signatory to the Agreement, that Indemnified Party may enforce this Arbitration Agreement to the same extent as the Bank. If a Dispute involves both an Indemnified Party and a non-party who is not covered by this Arbitration Agreement, the Dispute against the Indemnified Party will still proceed in arbitration, and the arbitrator, not a court, will decide any question about whether a particular party or claim is subject to arbitration under this Arbitration Agreement, except as prohibited by applicable law.
Notwithstanding the Agreement to Arbitrate above, either party may bring an individual Dispute in small claims court (or an equivalent court of limited jurisdiction) rather than in arbitration, provided the Dispute qualifies for that court, remains in that court, and proceeds only on an individual (non-class, non-representative) basis. If the Dispute is transferred, removed, or otherwise proceeds outside of small claims court, either party may elect to compel arbitration under this Arbitration Agreement.
You may opt out of this Arbitration Agreement, meaning it will not apply to you at all, by sending written notice within THIRTY (30) days of the date you first become bound by this Arbitration Agreement (i.e., the date you open your Booster Account or, for an amended Arbitration Agreement, the effective date of the amendment as described in Section III.O). Your notice must:
Opting out will not affect any other provision of the Agreement, your ability to obtain or use the Booster Account, or any other arbitration agreement you have separately entered into with the Bank or an Indemnified Party. If you do not timely and properly opt out, you will be bound by the terms of this Arbitration Agreement. Our business records showing whether and when a valid opt-out notice was received will be conclusive, absent manifest error.
TO THE FULLEST EXTENT PERMITTED BY LAW, YOU AND WE EACH KNOWINGLY AND VOLUNTARILY WAIVE ANY RIGHT TO A TRIAL BY JURY OR TO LITIGATE A DISPUTE IN COURT, EXCEPT AS EXPRESSLY PERMITTED IN THIS ARBITRATION AGREEMENT (SUCH AS THE SMALL CLAIMS EXCEPTION IN SECTION III.D). Disputes will instead be decided by a neutral arbitrator, whose authority is described below.
YOU AND WE AGREE THAT ANY ARBITRATION OR OTHER PROCEEDING UNDER THIS ARBITRATION AGREEMENT WILL BE CONDUCTED ONLY ON AN INDIVIDUAL BASIS, AND NOT AS A CLASS, COLLECTIVE, CONSOLIDATED, OR REPRESENTATIVE ACTION. Unless both you and we otherwise agree in writing, the arbitrator may not consolidate more than one party’s claims and may not preside over any form of class, collective, or representative proceeding. The arbitrator may award relief (including monetary, injunctive, and declaratory relief) only in favor of the individual party seeking relief, and only to the extent necessary to resolve that party's individual claim(s), except that, to the extent applicable law requires it for enforceability, you may pursue public injunctive relief in arbitration, and the arbitrator may award public injunctive relief to the extent required by such law.
If a civil court of competent jurisdiction determines this class action waiver is unenforceable as to a particular Dispute brought as a class, collective, or representative action, then: (i) the portion of the case not subject to the waiver must proceed in court; (ii) any portion that remains subject to the waiver will proceed in arbitration; and (iii) the court proceeding will be stayed pending resolution of the arbitration. Nothing in this Section limits the parties’ ability to settle a Dispute on a class, collective, or representative basis if both parties agree.
Before starting an arbitration, you and we agree to try in good faith to resolve any Dispute informally. The party asserting a Dispute must first send a written notice (a “Dispute Notice”) describing the Dispute and the specific relief sought. You should send your Dispute Notice to 111 South Broad Street, Lacon, IL 61540; we will send ours to your address of record. If the Dispute is not resolved within SIXTY (60) days after the Dispute Notice is received, either party may commence arbitration. Compliance with this Section is a condition precedent to filing an arbitration demand, and the arbitrator (or a court, in an action to compel arbitration) may consider a party’s compliance with this Section in allocating fees and costs under Sections III.J and III.K.
Any arbitration will be administered by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules then in effect (available at www.adr.org), as modified by this Arbitration Agreement. If there is a conflict between the AAA’s rules and this Arbitration Agreement, this Arbitration Agreement controls, unless the arbitrator determines that applying it would render the arbitration fundamentally unfair. The arbitrator will apply applicable substantive law, statutes of limitation, and privileges as a court would, and may award any relief that a court could award to an individual claimant under the Agreement and applicable law. The arbitrator, not a court, will resolve all threshold questions of arbitrability, including the scope, validity, and enforceability of this Arbitration Agreement, except for challenges to the Class Action and Representative Action Waiver in Section III.G, which must be decided by a court.
Unless the parties agree otherwise, for Disputes of $10,000 or less, you may choose whether the arbitration is conducted based on documents only, by telephone, or in person, consistent with the applicable AAA rules. For Disputes exceeding $10,000, the format of any hearing will be governed by those rules. Any in-person hearing will be held in a location reasonably convenient to you, taking into account your ability to travel and other relevant circumstances; if the parties cannot agree on a location, the administrator will decide. The arbitrator will issue a written decision stating the essential findings and conclusions on which the award is based.
Payment of filing, administrative, and arbitrator fees will be governed by the applicable AAA rules, except as modified here. For Disputes involving $75,000 or less in value, we will pay all arbitration administration and arbitrator fees upon your request. For larger Disputes, if you show the arbitrator that you are unable to pay your share of those fees, or that the cost of arbitration would be prohibitive compared to the cost of litigation, we will pay as much of those fees as the arbitrator determines is necessary to avoid the arbitration being cost-prohibitive to you. We will not seek to recover our own attorneys' fees or costs from you in connection with the arbitration unless the arbitrator finds your Dispute or defense was frivolous or asserted for an improper purpose under the standard of Federal Rule of Civil Procedure 11(b).
Except as provided in Section III.J or as otherwise required by applicable law, each party will bear its own attorneys’ fees and costs in the arbitration. If either party must go to court to compel arbitration under this Arbitration Agreement, the prevailing party on that motion is entitled to recover its reasonable attorneys’ fees and costs incurred in connection with that motion.
The parties will maintain the confidentiality of the arbitration proceeding and the arbitrator’s award, except as necessary to prepare for or conduct the arbitration, to enforce or challenge the award, or as required by applicable law or regulatory obligation.
If any part of this Arbitration Agreement other than the Class Action and Representative Action Waiver in Section III.G is found unenforceable, that part will be severed and the remainder of this Arbitration Agreement will remain in effect. If the Class Action and Representative Action Waiver in Section III.G is found unenforceable with respect to a particular Dispute (other than a claim for public injunctive relief), then this entire Arbitration Agreement will be void as to that Dispute, and that Dispute must be resolved in court; however, this Arbitration Agreement will remain in effect for all other Disputes.
This Arbitration Agreement evidences a transaction in interstate commerce, and its interpretation and enforcement are governed by the FAA. To the extent state law applies (including with respect to any matter the FAA does not address), the laws of the State of Illinois, without regard to conflict-of-law principles, will govern, consistent with the choice-of-law provision in the Agreement.
We may amend this Arbitration Agreement in the future as permitted under Section II.O (Changes to this Agreement) of the Agreement. If we do, and you do not want the amendment to apply to you, you may reject it by sending written notice to PO Box 308, 111 South Broad Street, Lacon, IL 61540 within THIRTY (30) days after the amendment’s effective date. If you validly reject an amendment, the version of this Arbitration Agreement already in effect for you will continue to apply. Rejecting an amendment is not the same as opting out of arbitration altogether under Section III.E.
This Arbitration Agreement survives the closure of your Booster Account and the termination of the Agreement, and continues to apply to Disputes arising before, during, or after such closure or termination.
If twenty-five (25) or more similar arbitration demands are filed against, or on behalf of, the Bank, or another Indemnified Party by or with the coordination of the same law firm(s) or claimant organization(s) within a short period of time and arise from substantially the same facts and seek substantially similar relief (a “Mass Filing”), the following procedures apply in place of the ordinary AAA process:
Filing a Dispute Notice under Section III.H will toll the applicable statute of limitations while this Mass Filing process is pending. If a court finds this batching process unenforceable as to a given Dispute after all appeals are exhausted, that Dispute may proceed as an individual arbitration, with fees allocated as the case proceeds rather than as set out above. This Section does not authorize class, collective, or representative arbitration of any kind.
This Arbitration Agreement does not apply to you, and you are not bound by the waivers in this Arbitration Agreement (including the jury trial waiver in Section III.F), if you are a “covered borrower” under the Military Lending Act, 10 U.S.C. § 987, and its implementing regulation, 32 C.F.R. § 232.3, at the time you become party to the Agreement. Nothing in this Arbitration Agreement limits any right or protection afforded to a covered borrower under the Military Lending Act or any other applicable federal or state law that cannot be waived.
KEEP THIS NOTICE FOR FUTURE USE. This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.
i. Reporting an Error
If you think there is an error (whether an unauthorized transaction, mistaken charge, or any other issue) on your Billing Statement, please contact us AT ONCE using the contact information detailed in Section II.N (Contact Information) of this Agreement. In your communication, provide: (1) your name and Booster Account number; (2) the dollar amount of the suspected error; and (3) a description of the error and why you believe it is a mistake. If you contact us via telephone, we may require you to submit a written notification of a potential error to continue our investigation.
ii. Timing
You must contact us within sixty (60) days after the error appeared on your Billing Statement, and at least three (3) Business Days before an automatic payment is scheduled if you want to stop payment on the amount you think is wrong.
Within 30 days of receiving your notice, we will tell you that we received it. We will also tell you if we have already corrected the error. While we investigate whether or not there has been an error:
Within 90 days of receiving your notice, we will send you a written explanation stating either that we corrected the error or explaining why we believe the Billing Statement is correct.
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 on which the payment is due. We may then report you as delinquent if you do not pay the amount we think you owe. If you still believe your Billing Statement is wrong after receiving our explanation, 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.
If we do not follow all the procedures above, you do not have to pay the first $50 of the amount you question, even if your Billing Statement is correct.
If you are dissatisfied with goods or services you purchased with your Booster Card and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the Purchase. To exercise this right, all of the following must be true:
If all of the above are met and you are still dissatisfied, contact us in writing using the contact information in Section II.N (Contact Information) of this Agreement. While we investigate, the same procedure applies to the disputed amount as discussed above. After 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.