Application
*Important Information
How You Earn With The GM Flexible Earnings Card
You earn 1% Base Earnings on GM Flexible Earnings Card purchases, which is redeemable on the purchase or lease price of an eligible, new GM vehicle, any other new vehicle or cash back. When you redeem your Earnings toward the retail purchase or lease of an eligible, new GM car, truck or SUV, your available Earnings are valued at a rate of three times the 1% Base Earnings rate and may be redeemed up to the applicable vehicle redemption limit. There are no limits to the amount of Earnings you may acquire within an Account Year. Unless used or terminated under the GM Flexible Earnings Card Earnings Program Rules, Earnings are valid for seven years from the end of the billing cycle in which they are earned. In the eighth year, GM Flexible Earnings Card Earnings accumulated from the first year will expire, and GM Flexible Earnings Card Earnings accumulated in the eighth year will be added in their place, and so on. Expiration after seven years will occur month-bymonth, so seven full years of Earnings are maintained. (These Earnings are in addition to most other discounts General Motors may offer, excluding GM Employee Purchase Programs, New Vehicle Purchase Program (NVPP), PEP, the GM Dealership Employee Purchase Program and the GM Supplier Discount Program.) You will not receive Earnings on Balance Transfer Checks and Convenience Checks, unless otherwise disclosed. Use of the GM Flexible Earnings Card is subject to the GM Flexible Earnings Card Earnings Program Rules, which will be supplied to all new Cardmembers following receipt of their GM Flexible Earnings Card. To participate in the GM Flexible Earnings Card Earnings Program, your Account must be open and in good standing with the issuing bank. GM reserves the right to change or terminate the program rules, regulations and awards.
Vehicle Redemption Allowances
Base Redemption Allowances are established for the duration of that vehicle model year and may change based on such things as promotional offers and new model year introductions. Redemption Allowances and other details are available at gmflexcard.com or by calling the GM Cardmember Services Redemption
Center at 1-800-388-9107, prompt 4. You can redeem your Earnings at any time as long as you have eligible GM Flexible Earnings Card Earnings in your Account in accordance with the GM Flexible Earnings Card Earnings Program Rules.
**Cash Back Option
GM Flexible Earnings Cardmembers have the option of redeeming their Base Earnings for cash in increments of $100. For example, if a Cardmember has $315 in GM Flexible Earnings Card Earnings accumulated, they can request a check for $300. The remaining $15 in Earnings will roll over until the next $100 increment is met and a check requested, or until the Earnings expire.
Balance Transfer Option
You could be eligible to request up to two Balance Transfers at the time of acceptance. We will process these Balance Transfer requests in the order you list them, up to your Initial Balance Transfer Limit. The Initial Balance Transfer Limit is $150 less than your credit limit. Your credit limit will be assigned when your Application is approved and will be provided to you with your credit card. If one or more Balance Transfer requests would exceed the Initial Balance Transfer Limit, we will automatically lower or cancel, in reverse order, Balance Transfer requests to an amount that will not exceed the Initial Balance Transfer Limit and complete the qualifying transfers. Because it may take up to 14 days to complete the Balance Transfers after you are approved and receive your credit card, please continue making payments to your other creditors accounts in accordance with the account terms until you are sure the Balance Transfer has posted to that account. There is a 3% ($10 minimum/$99 maximum) Cash Advance Fee for these Balance Transfers. Balance Transfer Checks may not be used to make payments to any Beneficial® or HSBC credit card, including any GM Card, Corvette® MasterCard,® Union Plus® Credit Card, Household Bank® or Orchard Bank® credit card, or to pay a loan made by any other HFC, Beneficial or HSBC company.
†Summary of Terms As required by law, the rates, fees and other costs of this credit offer are disclosed below. The Cardmember Agreement and Disclosure Statement (Agreement) sets forth all Account terms and will be sent with the card. Account terms may change. We have the right to change your APRs, fees and other terms at any time, for any reason including, but not limited to, any change in your credit history, credit obligations, Account performance, use of your credit lines with us or any creditor or our financial return. Any change will be in accordance with your Cardmember Agreement and applicable law.
Terms and Conditions
Annual Percentage Rate (APR) for Purchases
Variable Premium APR: 14.24% 1 ,
18.24% 1 or
21.24% 1 as of 3/1/07, depending on your creditworthiness.
(Minimum Premium APR: 14.24%, 18.24%, or 21.24%)
Other APR's
Introductory Balance Transfer APR: 0% 2 through the first twelve billing cycles of your Account.
Variable Cash APR: 23.65% 3 as of 3/1/07 (Minimum Cash APR: 20.99%)
Variable Default APR: 32.24% 4 as of 3/1/07 (Minimum Default APR: 30.99%)
Variable Rate Index and Spread
Your APRs may vary. The rates are determined monthly by adding the Index (described below) and:
5.99%, 9.99%, or 12.99% ("Spread") depending on your creditworthiness, for the Premium APR for credit card purchases and cash advances made by credit card check.
15.4% (Spread) for the Cash APR for cash advances.
Up to 23.99% (Spread) for the Default APR.
For each billing cycle, the Index is determined in the calendar month prior to the calendar month in which the billing cycle ends. In that prior calendar month, the highest (U.S.) Prime Rate published in the Money Rates table of The Wall Street Journal is selected (the Index). If the Index has changed, the new variable rates will take effect as of the first day of the first billing cycle that ends on or after the first day of the calendar month following the Index change.
Grace Period for Purchases
At least 20 days after the close of the previous billing cycle on new credit card purchases, provided you paid your previous balance in full.
Method of Computing Balance for Purchases
Average Daily Balance (including new purchases) Method.
Annual Fee
None.
Minimum Finance Charge
$1.00 for each billing cycle in which a periodic Finance Charge is payable.
Foreign Transaction Fee
A Foreign Transaction Fee equal to 3% of the U.S. dollar amount may apply to transactions made in a foreign currency.
Cash Advance Fee : 3% ($15 minimum) on all cash advances including Convenience Checks, unless otherwise disclosed; 3% ($10 minimum/$99 maximum) for advances by Balance Transfers requested at the time of application by phone and Internet, if applicable, and on Balance Transfer Checks
included in your Welcome Package that post to your Account during the Introductory Period; thereafter a 3% ($15 minimum) Cash Advance Fee will apply, unless otherwise disclosed. Periodic Finance Charges apply from date of transaction unless subject to the Introductory 0% APR. Late Payment
Fee : The Late Payment Fee will vary based on the amount of your total outstanding balance on your Payment Due Date and will be: $19 if your balance is $100 or less; $29 if your balance is more than $100 up to and including $250; or $39 if your balance is greater than $250. Overlimit Fee : $35.
Accessing the full amount or most of your available credit may result in an overlimit fee.
The variable Premium APR will apply to credit card purchases and cash advances made by credit card check.
The Introductory Balance Transfer APR applies to Balance Transfer Checks through the first twelve billing cycles of your Account. After the Introductory Period, or if your Minimum Payment is not received in time to be posted to your Account by the
Payment Due Date, or your balance exceeds your Account credit limit, the APR for the balances from these Balance Transfer Checks and for other Balance Transfers will increase to the variable Premium APR.
The variable Cash APR applies to cash advances, excluding cash advances made by credit card check and the Balance Transfers subject to the Introductory 0% APR. Cash advances will be limited. Your cash advance limit is disclosed on your billing statement.
All your APRs may automatically increase up to the variable Default APR if you default under any Cardmember Agreement that you have with us because you fail to make a payment to us when due, or you exceed your credit limit. We may consider the following factors in determining your Default APR: how long your Account has been open; the existence, seriousness or timing of the defaults on your Account or any other account you have with us; other indications of your Account usage and performance; information about your relationship with us or any of our related companies; and information we obtain from consumer credit reports obtained from credit bureaus. The Default APR takes effect as of the first day of the billing cycle in which the default occurs.
You may receive other promotional offers from us. To accept the terms for Balance Transfers described in this offer, you must request a Balance Transfer at the time of application, by phone or Internet, if applicable, or use the checks included in your Welcome Package so they post to your Account during the Introductory Period. The only way to accept other offers is to follow their terms.
You authorize us to allocate payments and credits in whatever way is most convenient and advantageous to us. You understand that it may be most advantageous to us to allocate payments and credits to lower APR balances before higher APR balances. The application of payments is subject to change at any time, without notice.
The information about the costs and benefits of the card described in this Application is accurate as of 3/1/07. This information may have changed after that date. To find out what may have changed, please call 1-800-819-5298. You understand that if based upon our review you do not qualify for the GM Flexible Earnings Platinum card, you will be considered for a standard GM Flexible Earnings Card with the same terms.
California Residents : Except as limited by applicable law, we may provide credit information about your Account to our affiliates from time to time. This information may be used to qualify you for other credit offers. Married persons may apply for a separate Account.
New York Residents : Consumer reports may be requested in connection with the processing of this Application and any resulting Account. Upon your request, we will inform you of the names and addresses of any consumer reporting agencies which have provided us with such reports
Ohio Residents : The Ohio laws
against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.
Married Wisconsin Residents : No agreement, court order or individual statement applying to marital property will adversely affect a creditors interests unless prior to the time credit is granted the creditor is furnished with a copy of the agreement, court order, or statement, or has actual knowledge of the adverse provision.
ARBITRATION The Cardmember Agreement and Disclosure Statement that you will receive with your card if you are approved for credit provides that certain disputes are subject to binding arbitration. Arbitration replaces the right to go to court, including the right to a jury and the right to participate in a class action or similar proceeding. Please read the "Arbitration" section of the Cardmember Agreement and Disclosure Statement carefully.
Information About Procedures For Opening A New Account
To help the government fight the funding of terrorism and money-laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person opening an Account. What this means for you: When you open an Account, we will ask for your name, address, date of birth and other information that will allow us to identify you.We may also ask to see your drivers license or other identifying documents.
The GM Flexible Earnings MasterCard credit card is issued by HSBC Bank Nevada, N.A. (referred to as HSBC Bank Nevada, we, us or our above) in Las Vegas, Nevada, and serviced by its affiliates, HSBC Card Services Inc. and/or HSBC Card Services (II) Inc. The GM Flexible Earnings Card
Earnings Program is offered and administered by General Motors Corporation.
MasterCard is a registered trademark of MasterCard International Incorporated. Chevrolet, Buick, Pontiac, GMC, Saturn, HUMMER, Saab and Cadillac are registered trademarks or trademarks of General Motors Corporation. Union Plus is a registered mark of Union Privilege.
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