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Cardholder Agreement Mastercard

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A cardholder agreement is a legal document that defines the conditions under which a credit card is offered to a customer. The cardholder`s agreement sets, among other things, the annual percentage rate of charge (APR) of the card as well as the calculation of the minimum payments of the card. Seduced by these features, Mia decides to accept the new card. However, beforehand, it checks in depth the agreement of the cardholders. She discovers that many of the functions promoted involve considerable costs. For example, while the card offers a 5% cash back program for food purchases, it also requires a significant monthly fee and charges penalties if the average monthly balance falls below a certain level. Although their details vary, most cardholder agreements are written in a simple format and tone. They address key issues such as the services available to the cardholder; the cardholder`s obligations to the issuing entity; interest rates, penalties and other costs that may be incurred in different circumstances; and the methods of handling disputes between the cardholder and the issuer, if they occur. Since Mia is careful to maintain relatively modest monthly expenses, she decides that she will be charged for maintaining an insufficient monthly balance. Had it not reviewed the terms of the cardholder agreement, it could have been forced to pay high and unexpected penalties.

Remember that even if you`re dealing with the best reward credit cards, you should thoroughly research your options and check the cardholder agreements. These Terms of Use shall not be assigned by you. Mastercard may at any time assign its rights and obligations set fore in these Terms of Use. If any part or provision of these Terms of Use is held to be illegal, void, invalid or unenforceable, that part shall be deemed severable from these Terms of Use and shall not affect the validity and enforceability of the remaining provisions. Unless otherwise stated, these Terms of Use constitute the entire agreement between you and Mastercard regarding their subject matter. Certain provisions of these Terms of Use may be superseded or supplemented by certain legal notices or conditions that can be found on certain pages, applications, tools or other materials that you can access inside this site. Mastercard`s failure to impose any provision of these Terms of Use or additional terms shall not be deemed a waiver of those provisions or its right to enforce such provision. These Terms of Use and all related documents may be accepted in electronic form (e.g. B by electronic or other means to prove consent) and your acceptance is deemed binding between you and Mastercard.

You agree without restriction that you will not contest the validity or enforceability of these Terms of Use and all related documents. The Truth in Lending Act (TILA) of 1968 prohibits credit card issuers from making misleading statements about their offerings and are required to clearly explain the terms and provisions of their credit cards in the cardholder agreement. Therefore, customers considering accepting a new credit card should carefully check their cardholder agreement to confirm that the actual provisions of the card are announced. This Cardholder Agreement (“Agreement”) describes the terms under which you received the PayPal cash card (“Card”) from Bancorp Bank, Wilmington, Delaware (“The Bancorp Bank” or “Emittent”). The issuer is a member institution insured by the FDIC. This Agreement supplements, but does not replace, the PayPal Use Agreement and other applicable agreements between you and PayPal, Inc. (“PayPal”). This Agreement is made available to you in electronic form in accordance with the Directive on the Distribution of Electronic Communications (/webapps/mpp/ua/esign-full) that you accepted and accepted when opening your PayPal account.

By accepting and using the Card, you agree to be bound by the terms of this Agreement as well as the terms of the PayPal Use Agreement between you and PayPal. . . .