Target Credit Agreement
This Agreement explains the terms that you agree to follow for your Target Mastercard Account or Target Credit Card Account, as applicable ('Account'). Your signature on your application or solicitation for this Account, including without limitation any electronic or digital signature, as well as your signature on sales slips or any Account related document, represents your signature on this Agreement. The card carrier we send with your credit card is a part of this Agreement. In this Agreement 'we,' 'us,' 'our' and 'TD Bank' mean TD Bank USA, N.A., a national bank with its main office located in Delaware, and its successors and assigns, which is the issuer of the Target Mastercard and Target Credit Card. 'You' and 'your' mean everyone who is liable for payment on this Account. 'Card' refers to your Target Mastercard or Target Credit Card, as applicable. 'Target' means Target Corporation and its affiliates. 'PIN' refers to the personal identification number associated with your Card and any other personal identification number you use to authorize a purchase using the Card, including any PIN or password that you use to access any mobile wallet where you store your Card number. You understand that TD Bank USA, N.A. is the issuer and Target has the right to service accounts and collect on TD Bank's behalf.
USE OF YOUR ACCOUNT When you apply for an Account, you promise to be bound by the terms of this Agreement. You promise to pay us for all credit extended under this Agreement and all other amounts you owe to us according to the terms of this Agreement. If the Account is a joint Account, each of you is bound by this Agreement and each of you jointly and individually promises to pay us, and may be held liable for, all amounts owed to us on your Account. You also promise to pay us for charges incurred by anyone you allow to use your Account. If you give your Card to someone and authorize their use of the Card, you must regain possession to terminate their authorized use. This Account may be used only for personal, family or household purposes. You
agree that you will not use or allow use of your Card or Account for any illegal transaction or purpose.
You may use your Card to make purchases of goods and services ('Purchase(s)'). A Target Credit Card can be used to make Purchases at Target, including Target stores and Target.com. A Target Mastercard can be used to make Purchases at Target and wherever Mastercards are accepted. A Target Mastercard can also be used to obtain cash advances from participating automated teller machines, financial institutions, or other locations ('Cash Advance(s)').
Your purchase of cash equivalents, wire transfers, money orders, foreign currency, traveler's checks, vouchers redeemable for cash or other items readily convertible into cash are treated as Cash Advances under this Agreement. You may be required to enter your PIN to complete a transaction. You will safeguard your Card and all PINs to prevent unauthorized use.
CREDIT LIMIT - You agree that we may establish a credit limit for your Account ('Credit Limit'). The Target Mastercard has a portion of the Credit Limit available for Cash Advances ('Cash Advance Credit Limit'). You agree that we may change a Credit Limit or a Cash Advance Credit Limit, at any time for any reason not prohibited by law, including, but not limited to, changes in your credit capacity, your pattern of payments to us, or your purchasing behavior. We may also change a Credit Limit or a Cash Advance Credit Limit based on any information provided to us by a consumer reporting agency, including your risk score at the consumer reporting agency or information about credit accounts you have with other companies. We may, but are not required to, approve transactions that exceed your Credit Limit or your Cash Advance Credit Limit without liability to you and without obligating us to do so in the future. You agree to prevent your Account balance or Cash Advance balance from exceeding
the applicable Credit Limit or Cash Advance Credit Limit.
SPECIAL PROMOTIONS - Occasionally, you may be provided the opportunity to use your Card or Account in connection with special promotions. These promotions may be subject to terms and conditions in addition to or different from those provided in this Agreement, which will be described in the special promotion offer. Unless otherwise stated, however, all terms of this Agreement shall apply to any special promotion.
PAYMENTS - We will send you a billing statement each month that your Account has a balance. Your billing statement will show the amount you owe us, which is called the New Balance, and the smallest amount you have agreed to pay us for that billing period, which is called the Minimum Payment Due. If any portion of the New Balance is delinquent, the statement will show the Amount Past Due. The statement will also tell you the Payment Due Date.
The Minimum Payment Due each month will equal the greater of a) $30.00; or b) the sum of the following: 1% of your New Balance (rounded to the next higher whole dollar amount), any Interest Charges, any Returned Payment Fees, and any Late Payment Fees. We may round your Minimum Payment Due to the next higher whole dollar amount. If there is an Amount Past Due, we will also add that amount and include it in your Minimum Payment Due. If your New Balance is less than $30.00, the Minimum Payment Due will be the entire New Balance. Your minimum payments will be allocated in our discretion. Payments in excess of the minimum payment will be allocated in accordance with applicable law. We will generally apply amounts you pay that exceed the minimum payment to balances with higher APRs before balances with lower APRs as of the date we credit your payment.
You agree to pay us in United States dollars. If you pay by check, your check must be drawn on a depository institution located in the United States. If you do not pay the New Balance in full, you agree to pay by your Payment Due Date at least the Minimum Payment Due. You may, at any time, pay the total amount owing on your Account. Payments are posted to your Account in a timely manner as required by law. However, we may delay restoring your available Credit Limit in the amount of the payment to make sure we receive the funds.
