THE KEY CREDIT TERMS
Wal-Mart® Discover®
Wal-Mart® Credit Card
Annual Percentage Rate (APR) for Purchases
Annual Percentage Rate (APR) for Purchases and Cash Advances
Account
Type 1:
Account
Type 2:
Account
Type 3:
12.37%
18.37%
21.37%
Premier Accounts:
Preferred Accounts:
Choice Accounts:
12.37%
18.37%
22.37%
Other APRs
Other APRs
Delinquency Rate:*   27.49%
Cash APR
Account Type 1:
Account Type 2:
Account Type 3:
15.37%
21.37%
24.37%
Delinquency Rate:*   27.49%
Variable Rate Information Variable Rate Information
The Annual Percentage Rate for Purchases may vary and will equal the prime rate plus (i) 4.12%, but not less than 9.87% for Account Type 1; (ii) 10.12%, but not less than 15.87% for Account Type 2; or (iii) 13.12%, but not less than 18.87% for Account Type 3. The Annual Percentage Rate for Cash Advances may vary and will equal (A) the prime rate plus 7.12%, but not less than 12.87% for Account Type 1, (B) the prime rate plus 13.12%, but not less than 18.87% for Account Type 2, or (C) the prime rate plus 16.12%, but not less than 21.87% for Account Type 3. The Delinquency Rate may vary and will equal the prime rate plus 19.24%, but not less than 24.99%.
The "prime rate" for a billing period is the highest bank prime loan rate as published in The Wall Street Journal in its Money Rates section on any business day of the three calendar months preceding the first day of the billing period.
The APR for all Accounts (including the Delinquency Rate) may vary and will equal:
Wal-Mart Premier Accounts: The prime rate plus 4.12%, but in no event less than 9.87%.
Wal-Mart Preferred Accounts: The prime rate plus 10.12%, but in no event less than 15.87%.
Wal-Mart Choice Accounts: The prime rate plus 14.12%, but in no event less than 19.87%.
All Accounts: Delinquency Rate equals the prime rate plus 19.24%, but in no event less than 24.99%.
The "prime rate" is the highest bank prime loan rate as published in The Wall Street Journal in its Money Rates section on the 15th day (or the next business day if the 15th is not a business day) of the calendar month preceding the first day of the billing period.
Grace Period for the Repayment of the Balance for Purchases Grace Period for the Repayment of the Balance for Purchases
25 days if no previous balance or full payment is made; otherwise none. 25 days if no previous balance or full payment is made; otherwise none.
Method of Computing the Balance for Purchases Method of Computing the Balance for Purchases
Average Daily Balance (Including New Purchases) Average Daily Balance (Including New Purchases and Cash Advances)
Minimum Finance Charge Minimum Finance Charge
$1.00 $1.00
Transaction Fee for Cash Advances and Convenience Checks Transaction Fee for Cash Advances and Convenience Checks
The greater of $5.00 or 3.0% of the amount of the Cash Advance Not Applicable
Transaction Fee for Balance Transfers Transaction Fee for Balance Transfers
The greater of $5.00 or 3% of the amount of the Balance Transfer, but no more than $50.00 Not Applicable
Late Payment Fee: $0 if the account balance at the time the delinquent Minimum Payment is calculated is less than $30; $14.97 if the balance is $30-$149.99; $28.97 if the balance is $150-$999.99; and $34.97 if the balance is $1,000 or greater.
Returned Check Fee: $25
Overlimit Fee: $25
*The Delinquency Rate will apply if you fail to make a minimum payment to us when due, you exceed any credit limit, or you make a payment to us that is not honored by your bank. Once in effect, if you are not late with any minimum payment and do not exceed any credit limit for six consecutive billing periods, the rate for purchases will be the prime rate plus 13.12%, but not less than 18.87% and the rate for cash advances will be the prime rate plus 16.12%, but not less than 21.87%.
Late Payment Fee: Except in PR and IA, $0 if the account balance at the time the delinquent Minimum Payment is calculated is less than $30; $14.97 if the balance is $30-$49.99; $19.97 if the balance is $50-$99.99; $24.97 if the balance is $100-$299.99; and $28.97 if the balance is $300.00 or greater. In PR and IA the Late Payment Fee will be $0 if the balance is less than $30; $24.97 if the balance is $30 or greater.
Returned Check Fee: $25
Overlimit Fee: $25
*The Delinquency Rate will apply if the Minimum Payment is past due twice in a 6-month period. Once in effect, if you are not late with any required Minimum Payment for six consecutive billing periods, the rate will be the prime rate plus 14.12% thereafter, but in no event less than 19.87%.
The information about the costs of the card described above is accurate as of billing periods beginning after July 1, 2006. This information may have changed after that date. The terms of the Agreement may be changed by us as provided in the Agreement.To find out what may have changed on your Wal-Mart® Discover®, write to: P. O. Box 981284, El Paso, TX 79998-1284. The information about the costs of the card described above is accurate as of billing periods beginning after July 1, 2006. This information may have changed after that date. The terms of the Agreement may be changed by us as provided in the Agreement.To find out what may have changed on your Wal-Mart® Credit Card, write to: P. O. Box 981064, El Paso, TX 79998-1064.
I authorize you to make inquiries you consider necessary (including requesting reports from consumer reporting agencies and other sources) in evaluating my application, and subsequently, for purposes of reviewing, maintaining or collecting my Account. I also understand that the credit card agreement delivered with my credit card (“Agreement”) will govern my Account, the terms of which are hereby incorporated by reference into and made a part of this application and that THE AGREEMENT’S TERMS INCLUDE AN ARBITRATION PROVISION WHICH MAY SUBSTANTIALLY LIMIT MY RIGHTS. My signature on this application represents my signature on the Agreement. I acknowledge that if I am approved for a Wal-Mart credit card, under the Agreement, I grant you a security interest in the goods purchased on the Account, as permitted by law. The Agreement will be deemed to have been made in Utah. YOU MAY REQUEST THE CODE OF PROCEDURE, RULES AND FORMS OF THE ARBITRATION ADMINISTRATOR SELECTED, BY CALLING THE TOLL-FREE NUMBERS LISTED IN THE AGREEMENT.
 

Consent to Electronic Communications

1. Categories of Communications.
You understand and agree that Synchrony Bank, the issuer of Wal-Mart Credit Card or Wal-Mart Discover, our assignees, or other holders of your Wal-Mart Credit Card or Wal-Mart Discover account ("we" or "us") may provide to you by electronic means the following categories of information with respect to applying for and obtaining a Wal-Mart Credit Card or Wal-Mart Discover account ("Account"), which may include disclosures required by applicable federal or state law (collectively, "Communications"):

  • The Wal-Mart Credit Card or Wal-Mart Discover Agreement ("Agreement"), including, without limitation, any Truth in Lending Act disclosures; and
  • Other federal and state law disclosures, notices and communications in connection with the application for an Account or opening an Account.
  • SYNCB'S Privacy Policy For The Wal-Mart Credit Card and Wal-Mart Discover Program.

2. Manner of Consent.
You acknowledge that by agreeing to the Consent to Electronic Communications through this website, you demonstrate that you can access information that we would provide to you by posting electronic Communications on our website.

3. How to Withdraw Consent.
You may withdraw your consent to receive electronic Communications by not submitting your online application. However, you may not apply online unless you consent to receive electronic Communications.

4. Hardware and Software Requirements.
In order to access and retain Communications, you must have:

  • An Internet Browser which supports HTML 4.0 and SSL-encryption, such as Netscape 4.0 or later and Microsoft Internet Explorer 4.0 or later.
  • A means to print or store notices and information through your browser software.
  • A personal computer or equivalent device capable of connecting to the Internet via dial-up, DSL, Cable Modem, Wireless Access Protocol, or equivalent,and that supports the foregoing requirements.

5. Paper Copies of Communications.
Upon your request, we will send you a paper copy of the Agreement, SYNCB'S Privacy Policy for the Wal-Mart Credit Card or Wal-Mart Discover Program and/or other material provided pursuant to the Consent to Electronic Communication. If you would like a paper copy of any of this material please write to us at P.O. Box 981064, El Paso, TX 79998 or call us at 1-866-611-1148. There will be no charge for a paper copy of this material.

6. Communications in Writing.
All Communications in either electronic or paper format from us to you will be considered "in writing." You should print or download a copy of this Consent to Electronic Communication, the Agreement, SYNCB'S Privacy Policy for the Wal-Mart Credit Card or Wal-Mart Discover Program, your application and any other Communication that is important to you for your records.

7. Electronic Signatures.
You acknowledge that by clicking on the "I Agree" or similar button at the Wal-Mart Credit Card or Wal-Mart Discover application, you are indicating your intent to sign the relevant document or record and that this shall constitute your signature.

8. Federal Law.
You acknowledge and agree that your consent to electronic Communications is being provided in connection with a transaction affecting interstate commerce that is subject to the federal Electronic Signatures in Global and National Commerce Act, and that you and we both intend that the Act apply to the fullest extent possible to validate our ability to conduct business with you by electronic means.

HOW TO EARN CASH REWARDS
WAL-MART® DISCOVER®

Subject to the Terms set forth below, you are eligible to receive a rebate on purchases made with the Wal-Mart® Discover®. Cash rebate is not available for the Wal-Mart® Credit Card.

1. Determination of Cash Rebate Percentage. The amount of your Year to Date Purchases will be used to determine the percentage of each Purchase eligible for rebate. The greater the amount of Year to Date Purchases, the higher the rebate percentage.

2. Rebate Tiers. The percentage of each purchase eligible for rebate is as follows:

Amount of Year-to-Date Purchases
(Including the current Purchase)
Percentage of Purchase
Eligible for Rebate
Up to $1,500
0.25%
$1,500.01 - $3,000
0.50%
Over $3,000
1.00%

If a Purchase causes Year-to-Date Purchases to span multiple rebate tiers, the applicable rebate percentage for each spanned tier will apply to that portion of the Purchase falling within such tier. For example, if a Cardholder already having Year-to-Date Purchases totaling $2,000, makes an additional $2,000 Purchase, $1000 of that additional purchase would be eligible for a 0.50% rebate and the remaining $1,000 would be eligible for a 1.00% rebate.

3. Issuance of Rebate Checks. After each Purchase, a Cardholder will accrue a potential rebate based on the applicable percentage. No rebates will be issued to a Cardholder until the Cardholder’s accrued rebates equals or exceeds $10, at which time, unless the Cardholder’s account is delinquent, a rebate check will be sent to the Cardholder with the Cardholder’s next billing statement. Cardholders have no right to accrued rebates in an amount of less than $10.

4. Other Conditions. A Cardholder will forfeit all accrued, unpaid rebates if the Cardholder’s account is closed for any reason (other than as a result of a lost or stolen card, in which case all accrued rebates will be applied to the replacement card). Rebate checks expire on the expiration date printed on the front of the checks. These Terms may be changed or discontinued at any time without notice. Changes may include, among other things, modifying the amount of Purchases required to qualify for the various potential rebate tiers, changing the rebate percentages, imposing additional restrictions, or terminating the program.

5. Definitions – As used herein, the following terms will have the following meanings:
“Card” means the Wal-Mart® Discover®.
“Cardholders” means the person to whom the Card was issued.
“Card Year” means a calendar year.
“Purchase” means a purchase of merchandise or services using the Wal-Mart® Discover®. Purchase does not include any other type of Card transaction, including cash advances, quick cash advances or balance transfers.
“Terms” means these terms for how to earn cash back.
“Year-to-Date Purchases” means the amount, at the time each Purchase is made, of net Card purchases (total Card purchases minus returns and adjustments) made during the Card Year. At the beginning of each Card Year, the amount of Year-to-Date Purchases will be reset to zero.

INITIAL DISCLOSURE STATEMENTS

The following are initial disclosure statements. If you are approved for a Wal-Mart Credit Card or a Wal-Mart® Discover®, a complete credit card agreement (“Agreement”) governing your Wal-Mart Credit Card or Wal-Mart® Discover® account will be sent to you along with your credit card. The Wal-Mart Credit Card and the Wal-Mart® Discover® is issued by Synchrony Bank (“Bank”). In these disclosure statements, the Wal-Mart Credit Card and Wal-Mart® Discover® may each be referred to as an “Account”. “We”, “us”, and “our” refer to the Bank; “you” and “your” refer to all persons who we approve to use the Account; and “Card” refers to your Wal-Mart Credit Card or your Wal-Mart® Discover®. You may use your Wal-Mart® Discover® or Wal-Mart Credit Card to purchase goods or services ("Purchases") or to obtain cash loans ("Quick Cash Advances") at participating Wal-Mart owned registers in Wal-Mart Stores. Each Quick Cash Advance must be in the amount of $20 and may only be obtained if you are making an approved Purchase with your Card. No more than one Quick Cash Advance may be obtained on your Account each day. Except as otherwise expressly provided in the Wal-Mart Credit Card Agreement or any applicable offer, a Quick Cash Advance made with your Wal-Mart Credit Card or Wal-Mart Discover will be treated as a purchase for the purpose of calculating the Minimum Payments on your Account and the amount of Finance Charge on your Account, including determining the balance subject to Finance Charge and when Finance Charges begin to accrue. You may also use your Wal-Mart® Discover® to obtain cash loans at any institution that accepts the Wal-Mart® Discover®, including any Automated Teller Machines (“Cash Advances”). We may, from time to time, allow you to transfer balances from other credit card accounts to your Wal-Mart® Discover® (“Balance Transfer”), or to access credit on the Account by writing a convenience check (“Convenience Checks”). The following transactions are treated as Cash Advances for the Wal-Mart® Discover®: Convenience Checks, drafts, money orders, cashier’s checks, traveler’s checks, electronic or wire transfers, foreign currency or other in-bank transactions, tax payments, lottery tickets or other legalized gambling transactions, court costs, bail bonds, person-to-person payments, fines, and other cash-like transactions. Except as otherwise expressly provided in the Agreement for Wal-Mart® Discover® or any applicable offer, a Balance Transfer will be treated as a Purchase.

DISCLOSURES FOR THE WAL-MART CREDIT CARD

TYPES OF ACCOUNTS. There are three types of Accounts for this card described in this Agreement: The Wal-Mart Premier Account, the Wal-Mart Preferred Account, and the Wal-Mart Choice Account. You will be advised which type of Account you qualify for. The applicable Finance Charge rate (“Rate”) for each type of Account is set out below. The other terms and conditions contained in this Agreement will apply to all types of Accounts.

FINANCE CHARGES.

A.The Finance Charge for a billing period is calculated by applying the Periodic Rate to the Account balance subject to Finance Charge for each day in the billing period and adding together all of those daily Finance Charge amounts. There is a minimum FINANCE CHARGE of $1.00 for a billing period in which a Finance Charge is assessed.

B.The Periodic Rate for your Account is the Standard Rate, unless the Delinquency Rate applies as described below. For Wal-Mart Premier Accounts, the Standard Rate for a billing period is the greater of (i) the Prime Rate plus 4.12%, times 1/365, or (ii) .02704% (ANNUAL PERCENTAGE RATE 9.87%); for Wal-Mart Preferred Accounts, the Standard Rate for a billing period is the greater of (i) the Prime Rate plus 10.12%,times 1/365, or (ii) .04347% (ANNUAL PERCENTAGE RATE 15.87%); and for Wal-Mart Choice Accounts, the Standard Rate for a billing period is the greater of (i) the Prime Rate plus 14.12%, times 1/365, or (ii) .05443% (ANNUAL PERCENTAGE RATE 19.87%). The “Prime Rate” for a billing period is the highest bank prime loan rate as published in The Wall Street Journal in its Money Rates section on the 15th day (or the next business day if the 15th is not a business day) of the calendar month preceding the month in which such billing period begins. Based on a Prime Rate of 8.25% as of July 1, 2006 the Standard Rate was .03389% (ANNUAL PERCENTAGE RATE 12.37%) for Wal-Mart Premier Accounts; .05032% (ANNUAL PERCENTAGE RATE 18.37%) for Wal-Mart Preferred Accounts; and .06128% (ANNUAL PERCENTAGE RATE 22.37%) for Wal-Mart Choice Accounts.

C. For all account types, if you do not make your required Minimum Payment by the Payment Due Date two times in any six consecutive billing periods, the next Statement you receive will reflect the Delinquency Rate (rather than the Standard Rate) that will apply to all existing balances on your Account and all new transactions beginning with the first day of the billing period reflected on that Statement. The Delinquency Rate will vary and will be equal to 1/365 of the total of the Prime Rate plus 19.24%, but in no even less than .06846% (ANNUAL PERCENTAGE RATE 24.99%). Based on a Prime Rate of 8.25% as of July 1, 2006, the Delinquency Rate was ..07531% (ANNUAL PERCENTAGE RATE 27.49%). Once the Delinquency Rate applies, if you make any required Minimum Payment by the Payment Due Date in six consecutive billing periods, the next Statement you receive will reflect a new Periodic Rate (rather than the Delinquency Rate) equal to 1/365 of the total of the Prime Rate plus 14.12% but in no event less than .05443% ANNUAL PERCENTAGE RATE 19.87%). Based on a Prime Rate of 8.25% as of July 1, 2006, this new Periodic Rate was equal to .06128% (ANNUAL PERCENTAGE RATE 22.37%). This new Periodic Rate will apply to all existing balances on your Account and all new transactions beginning with the first day of the billing period reflected on that Statement.

D.The Periodic Rate and corresponding Annual Percentage Rate may vary. If the Prime Rate increases, the Periodic Rate and corresponding Annual Percentage Rate may increase, and as a result the Finance Charge, Minimum Payment and number of payments also may increase. Any change in the Periodic Rate will apply to your entire Account balance. We may select a new interest rate index if the Prime Rate is not available.

BALANCE SUBJECT TO FINANCE CHARGE.
A. The balance subject to Finance Charge is the Daily Balance of the Account. However, there is no balance subject to Finance Charge for a billing period if there is no Previous Balance on your Account for that billing period or the sum of your payments and credits on your Account during the billing period is at least equal to the Previous Balance.

B. To determine the Account balance subject to Finance Charge, we take the beginning balance of your Account each day, which includes any unpaid Finance Charges, and add any new Purchases and other debits for that day and subtract any payments and other credits applied that day. Each day we also add any Finance Charges, Late Payment Fees and Returned Check Fees assessed that day. Credit insurance premiums and debt cancellation fees, if any, are not included. This gives us the “Daily Balance” of the Account. However, any Daily Balance less than zero will be treated as zero.

WHEN FINANCE CHARGES BEGIN TO ACCRUE. If there is no Previous Balance for the billing period or the sum of your payments and credits for the billing period is at least equal to the Previous Balance, new Purchases and other charges in that billing period will begin to accrue a Finance Charge as of the first day of the next billing period if a Finance Charge is imposed in the next billing period. If there is a Previous Balance for the billing period, and the sum of your payments and credits for the billing period is not at least equal to that Previous Balance, new Purchases and other charges in that billing period will begin to accrue a Finance Charge from the later of the date of the transaction or the first day of the billing period in which the transaction is posted to your Account.

PAYMENTS. Unless otherwise provided for in a Special Payment Plan, when there is a New Balance shown on your Statement, you agree to pay at least the Minimum Payment called for on that Statement, in time for receipt by us by the Payment Due Date shown on the Statement. You may pay more than the Minimum Payment at any time. Your Minimum Payment will be equal to any past due amounts plus the sum of the Minimum Payment for Regular Purchase balances and the Minimum Payment for Big Ticket Purchase balances calculated as follows:

A. The Minimum Payment for Regular Purchase balances is equal to the greater of: $15 or 1/24 of the Regular Purchase balance, rounded to the next highest dollar. When the Regular Purchase balance is less than $15, the Minimum Payment for Regular Purchase balances is equal to the Regular Purchase balance.

B. The Minimum Payment for Big Ticket Purchase balances is equal to the greater of: (a) $10, (b) the Big Ticket Purchase balance times 1/40, rounded to the next highest dollar, or (c) the Minimum Payment for Big Ticket Purchase balances for your previous billing period. When the Big Ticket Purchase balance is less than $10, the Minimum Payment for Big Ticket Purchase balances is equal to the Big Ticket Purchase balance. Under this method, the Minimum Payment for Big Ticket Purchase balances will not decrease as the Big Ticket Purchase balance decreases, but it will increase if a new Big Ticket Purchase increases the Big Ticket Purchase balance subject to Minimum Payment above a previous high. Big Ticket Purchases are single item Purchases of $399 or more made at a Wal-Mart owned register in a Wal-Mart store and any other Purchases, other than Cash Advances, on the same sales receipt as the Big Ticket Purchase. Regular Purchases are all Purchases other than Big Ticket Purchases, including Cash Advances.

C. We reserve the right to select the method by which payments and credits are allocated to your Account in our sole discretion. The payment allocation method that we use may result in higher Finance Charges on your Account, depending on the types of transactions you make (such as promotional or non-promotional purchases), and the timing and amount of your payments. If you have any questions about the allocation of your payment or would prefer to choose a different payment allocation option we offer, please call customer service at 1-877-294-7880.

FEES. You agree to pay the following fees.

A. Late Payment Fee, if we have not received your Total Minimum Payment by the Payment Due Date shown on your Statement. The amount of the Late Payment Fee will be based on your New Balance at the time your delinquent Total Minimum Payment was calculated. Except in PR and IA, the Late Payment Fee will be $0 for a New Balance of under $30; $14.97 for a New Balance of $30.00 to $49.99; $19.97 for a New Balance of $50 to $99.99; $24.97 for a New Balance of $100 to $299.99; and $28.97 for a New Balance of $300 or more. In PR and IA the Late Payment Fee will be $0 if the New Balance is less than $30; $24.97 if the New Balance is $30 or greater.

B. A Returned Check Fee of $25 if any check or other instrument sent to us, or any electronic payment authorization you provide us in payment on your Account, is not honored upon first presentment, even if the check, instrument or electronic authorization is later honored.

C. An Over Limit Fee of $25 if your outstanding balance at the close of a billing period exceeds your Credit Limit. We may charge an Over Limit Fee even if we authorize the transactions on your Account that caused you to exceed your Credit Limit. This Fee will be imposed no more than once in a billing period.

SECURITY INTEREST. Except in CT, GA (on purchases of clothing, softwares, and other non-durable items), MO (on any merchandise under $150), NC, NY (on any merchandise under $200), and PR, you grant us a purchase money security interest in each item of merchandise purchased on your Account to secure its unpaid purchase price until such merchandise is paid in full (in NY, not to exceed five years from the date the merchandise is posted to your Account). Solely for the purpose of determining the extent of our purchase money security interest in each such item of merchandise, and subject to the requirements of applicable law, your payments will be allocated first to Finance Charges on the Account, and then to pay off each Purchase on the Account in the order in which the Purchase was made (if more than one item was purchased on the same day, your payments will be allocated to pay off the lowest priced item first). Additionally, if you made a Purchase pursuant to a credit promotion involving the avoidance of Finance Charges and that Purchase is included on Statements during the promotional period, we also will allocate to such promotional Purchase the same payments referred to in the immediately preceding sentence if those payments are received during the period starting with the initial billing of the promotional Purchase until the expiration of the promotional period. For purposes of determining the amount owing on your Account, payments will be credited only once at the time of payment to the then-outstanding balance of your Account. We agree that no security interest is or will be retained or acquired under this Agreement in any real property which is used or is expected to be used as your dwelling (and in NY, in any motor vehicle or in any goods likely to be affixed to a motor vehicle or real property so as to become a part thereof).

DISCLOSURES FOR THE WAL-MART® DISCOVER®

PERIODIC FINANCE CHARGES. We calculate the periodic Finance Charge separately for Purchases, Cash Advances, Quick Cash Advances and Special Payment Plans.

A. The periodic Finance Charge for a billing period is calculated by applying the applicable daily periodic rate (“Periodic Rate”) to the Account balance subject to periodic Finance Charges for each day in the billing period, and adding  together all of those daily Finance Charge amounts. A minimum FINANCE CHARGE of $1.00 will be imposed for each billing period in which your  Account is subject to a periodic Finance Charge.

B. The Periodic Rate for your Purchase balance is the purchase standard rate (“Purchase Standard Rate”), unless the Delinquency Rate applies as described below. The Purchase Standard Rate for a billing period is the greater of: (i) the Prime Rate plus 4.12%, times 1/365; or (ii) .02705% (APR 9.87%) for Account Type 1; the greater of: (i) the Prime Rate plus 10.12%, times 1/365; or (ii) .04348% (APR 15.87%) for Account Type 2; or the greater of: (i) the Prime Rate plus 13.12%, times 1/365; or (ii) .05170% (APR 18.87%) for Account Type 3. The prime rate for a billing period is the highest bank prime loan rate as published in The Wall Street Journal in its Money Rates section on any business day of the three calendar months preceding the first day of the billing period (“Prime Rate”). Based on a prime rate of 8.25% as of July 1, 2006, the Standard Rate for Account Type 1 was .03390% (APR 12.37%); the Standard Rate for Account Type 2 was .05034% (APR 18.37%); and the Standard Rate for Account Type 3 was .05856% (APR 21.37%).

C. The Periodic Rate for your Cash Advance balance is the cash standard rate (“Cash Standard Rate”), unless the Delinquency Rate applies as described below. Except as provided below, the Cash Standard Rate for a billing period is the greater of: (i) the Prime Rate plus 7.12%, times 1/365; or (ii) .03527% (APR 12.87%) for Account Type 1; the greater of: (i) the Prime Rate plus 13.12%, times 1/365; or (ii) .05170% (APR 18.87%) for Account type 2; the greater of: (i) the Prime Rate plus 16.12%, times 1/365; or (ii) .05992% (APR 21.87%) for Account Type 3. Based on a prime rate of 8.25% as of July 1, 2006, the Cash Standard Rate for Account Type 1 was .04212% (APR 15.37%); the Cash Standard Rate for Account Type 2 was .05856% (APR 21.37%); and the Cash Standard Rate for Account Type 3 was .06678% (APR 24.37%).

D. The Periodic Rate for all Account balances will be increased if you fail to make a minimum payment to us when due, you exceed your Credit Limit or Cash Advance Limit, or you make a payment to us that is not honored by your bank. In such circumstances, we will increase your Periodic Rates (including any promotional rates) on all Account balances to a delinquency rate (“Delinquency Rate”) equal to the greater of: (i) the Prime Rate plus 19.24%, times 1/365; or (ii) .06847% (APR 24.99%). Based on a Prime Rate of 8.25% as of July 1, 2006, the Delinquency Rate was .07532% (APR 27.49%) . The Delinquency Rate that will apply will take effect as of the first day of the next billing period. Once the Delinquency Rate applies, if you make any required Total Minimum Payment by the Payment Due Date in six consecutive billing periods and do not exceed your Credit Limit or Cash Advance Limit during such six month period, effective on the first day of the next billing period, we will apply a Purchase Standard Rate to your Purchase balances and Quick Cash Advance balances equal to the greater of: (i) the Prime Rate plus 13.12%, times 1/365; or (ii) .05170% (APR 18.87%) and a Cash Standard Rate to your Cash Advance balances equal to the greater of: (i) the Prime Rate plus 16.12%, times 1/365; or (ii) .05992% (APR 21.87%). Based on a Prime Rate of 8.25% as of July 1, 2006, the Purchase Standard Rate under this formula was .05856% (APR 21.37%) and the Cash Standard Rate under this formula was .06678% (APR 24.37%).

E. The Periodic Rate and corresponding APRs may vary. If the Prime Rate increases, the Periodic Rates and corresponding APRs may increase, and as a result the periodic Finance Charge, Total Minimum Payment, and number of payments also may increase. Any change in the Periodic Rates will apply to your entire Account balance (unless otherwise specified in any applicable promotional offer that provides for different terms for that promotion). A change in the Prime Rate will take effect on the first day of the billing period after the change. We may select a new interest rate index if the Prime Rate is not available.

BALANCE SUBJECT TO PERIODIC FINANCE CHARGE. The balance subject to a periodic Finance Charge is calculated separately for Purchases, Cash Advances, Quick Cash Advances and Special Payment Plans.

A. The Purchase balance subject to a periodic Finance Charge is the Purchase Daily Balance of the Account. However, Purchases are not included in the Purchase balance subject to a periodic Finance Charge for a billing period if there is no previous balance on your Account at the beginning of the billing period (“Previous Balance”), or the sum of your payments and credits on your Account received during the billing period is at least equal to the Previous Balance.

B. To determine the Purchase balance subject to a periodic Finance Charge, we take the prior day’s Purchase balance of your Account, which includes any unpaid periodic Finance Charge on your Purchase balance and add any new Purchases, including any Balance Transfers and other debits charged to your Account that day, and subtract any payments and other credits applied to your Purchase balance that day. Each day we also add any periodic Finance Charges on your Purchase balance and other Finance Charges and fees (other than Transaction Fees for Cash Advances), including any debt cancellation fees, assessed that day on your Account. This gives us the “Purchase Daily Balance” of the Account. Any Purchase Daily Balance of less than zero will be treated as zero.

C. The Cash Advance balance subject to a periodic Finance Charge is the Cash Advance Daily Balance of the Account. To determine the Cash Advance balance subject to a periodic Finance Charge, we take the prior day’s Cash Advance Balance of your Account, which includes any unpaid periodic Finance Charges on your Cash Advance Balance, and add any new Cash Advances, Transaction Fees for Cash Advances and periodic Finance Charges on your Cash Advance Balance for that day and subtract any payments and other credits applied to your Cash Advance Balance that day. This gives us the “Cash Advance Daily Balance” of the Account. Any Cash Advance Daily Balance of less than zero will be treated as zero.

D. The Quick Cash Advance balance subject to a periodic Finance Charge is the Quick Cash Advance Daily Balance of the Account. However, Quick Cash Advances are not included in the Quick Cash Advance balance subject to a periodic Finance Charge for a billing period if there is no Previous Balance on your Account at the beginning of the billing period, or the sum of your payments and credits on your Account received during the billing period is at least equal to the Previous Balance. To determine the Quick Cash Advance balance subject to a periodic Finance Charge, we take the prior day’s Quick Cash Advance balance of your Account, which includes any unpaid periodic Finance Charge on your Quick Cash Advance balance and add any new Quick Cash Advance charged to your Account that day, and subtract any payments and other credits applied to your Quick Cash Advance balance that day. Each day we also add any periodic Finance Charges on your Quick Cash Advance balance. This gives us the “Quick Cash Advance Daily Balance” of the Account. Any Quick Cash Advance Daily Balance of less than zero will be treated as zero.

WHEN PERIODIC FINANCE CHARGES BEGIN TO ACCRUE.

A. Purchases and Quick Cash Advances. If there is a Previous Balance on your statement, Purchases, Quick Cash Advances and other related charges will begin to accrue periodic Finance Charges on the later of the transaction date or the first day of the billing period in which the Purchase and/or Quick Cash Advance is posted to your Account. However, if there is no Previous Balance shown on your Account, or if the sum of all payments and credits posted to your Account by the Payment Due Date is at least equal to the New Balance on your statement, Purchase Balances and Quick Cash Advances will not incur any Finance Charges on the next billing statement. To avoid periodic Finance Charges on Purchases and Quick Cash Advances on your next statement, you must pay your entire New Balance by the payment due date shown on your statement.

B. Cash Advances. Cash Advances, Transaction Fees for Cash Advances and other related charges will accrue a periodic Finance Charge from the later of the transaction date or the first day of the billing period in which the Cash Advance is posted to your Account. There is no period within which you can avoid Finance Charges on Cash Advances.

PAYMENTS.

A. You must pay at least the Total Minimum Payment by 5:00 p.m. on the Payment Due Date shown on the Statement. You may pay more than the Total Minimum Payment at any time. Your Total Minimum Payment will be the sum of: (a) the greater of (i) $15.00, or (ii) 1.00% of the new balance (“New Balance”) shown on your statement, or (iii) the sum of the Finance Charges, the late fee, the overlimit fee imposed during the current billing period, and 1.0% of your New Balance; plus (b) any past due amounts and any amount by which the New Balance exceeds your Credit Limit. The Total Minimum Payment will be rounded up to the next whole dollar. However, the Total Minimum Payment is the New Balance if the New Balance is less than $15.00.

B. We reserve the right to select the method by which payments and credits are allocated to your Account in our sole discretion. The payment allocation method that we use may result in higher Finance Charges on your Account, depending on the types of transactions you make (such as promotional or non-promotional purchases), and the timing and amount of your payments. From time to time we may offer you the following types of Special Payment Plans: (1) reduced APR promotions that apply to Purchases and/or Cash Advances made anywhere you use your Account (“World-Wide Promotions”); and (2) promotions that apply solely to Purchases made at a Wal-Mart store (“Wal-Mart Store Promotions”). Wal-Mart Store Promotions may include deferred interest promotions where interest accrues during the promotional period but is not added to your Account balance if the promotional balance is paid in full by the expiration date of the promotion (“Wal-Mart Deferred Interest Promotions”).

Unless we notify you otherwise, your payments will be allocated in the following order:

1. Finance charges and fees

2. World-Wide Promotions, in order of lowest to highest APR

3. All Balances not subject to any promotion, in order of lowest to highest APR

4. Wal-Mart Store Promotions (except as noted below)

If you have a Wal-Mart Deferred Interest Promotion, in the month in which that promotion is to expire, payments equal to or greater than the Wal-Mart Deferred Interest Promotion balance will be allocated to that balance before payments are allocated to finance charges and fees. Because we allocate payments to lower APR balances first for both World-Wide Promotions and balances not subject to any promotion, your Account will incur higher Finance Charges than if we had allocated to higher APR balances first. In addition, if you have a balance that has a higher APR than any World Wide Promotion balance you may have, you will not receive the full benefit of the reduced APR of the World Wide Promotion. If you have any questions about the allocation of your payment, please call the customer service phone number located on your billing statement.

ADDITIONAL FEES. You agree to pay the following fees:

A. A Late Payment Fee, if we have not received your Total Minimum Payment by the Payment Due Date shown on your Statement. The amount of the Late Payment Fee will be based on your New Balance at the time your delinquent Total Minimum Payment was calculated. The Late Payment Fee will be $0 for a New Balance of under $30; $14.97 for a New Balance of $30.00 to $149.99; $28.97 for a New Balance of $150.00 to $999.99; and $34.97 for a Balance of $1,000.00 or more.

B. An Overlimit Fee of $25.00 for each billing period in which your New Balance as shown on your Statement exceeds your Credit Limit. We may assess an Overlimit Fee even if we authorize the transactions on your Account that caused you to exceed your Credit Limit, or if you exceed your Credit Limit as a result of unpaid Finance Charges or other fees.

C. A Returned Check Fee of $25.00 if any check or other instrument sent to us, or any electronic payment authorization you provide us for payment on your Account, is not honored upon first presentment even if the check, instrument, or electronic payment authorization is later honored.

D. A Transaction Fee for each Cash Advance (including any Convenience Check) that posts to your Account will be charged. This fee will be a FINANCE CHARGE equal to the greater of $5.00 or 3% of the amount of the Cash Advance. For Automated Teller Machine (“ATM”) Cash Advances, the amount of the Cash Advance may include a surcharge that the ATM owner imposes.

E. A Transaction Fee for each Balance Transfer that posts to your Account will be charged. This fee will be a FINANCE CHARGE equal to the greater of $5.00 or 3% of the amount of the Balance Transfer, but no more than $50.00.

TRANSACTION MADE IN FOREIGN CURRENCY.  If a transaction is made in a foreign currency, the Discover® Network will convert the transaction into a U.S. dollar amount in accordance with its operating regulations and conversion procedures in effect at the time the transaction is processed. Currently these regulations and procedures (which are subject to change by the Discover® Network) provide that the currency conversion rate Discover® Network uses is no greater than the highest (1) interbank conversion rate identified by Discover® Network on the processing date; or (2) government-mandated rate, in effect on the processing date or the previous business day. The currency conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or the posting date.

INITIAL DISCLOSURES FOR BOTH THE WAL-MART®
CREDIT CARD AND THE WAL-MART® DISCOVER®

CHANGE IN TERMS.  We may, at any time and subject to applicable law, change, add or delete provisions of the Agreement (“Terms Change”) or terminate your Account. Unless prohibited by applicable law, we may apply any Terms Change to any outstanding or future balances of your Account.

ARBITRATION.  The Agreement contains an arbitration provision that may substantially limit your rights in the event of a dispute, including your right to litigate in court or have a jury trial, discovery and appeal rights, and the right to participate as a representative or member of a class action. You have a right to reject the arbitration provision, by following the instructions in the arbitration provision. If you reject arbitration, it will have no effect on any other terms of the Agreement.

Notice:The following is important information regarding your right to dispute billing errors.

YOUR BILLING RIGHTS
KEEP THIS NOTICE FOR FUTURE USE

This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.

Notify Us in Case of Errors or Questions About Your Bill
 If you think your bill is wrong, or if you need more information about a transaction on your bill, write us on a separate sheet at the address shown on your Statement under billing inquiries. Write to us as soon as possible. We must hear from you no later than 60 days after we sent you the first bill on which the error or problem appeared. You can telephone us, but doing so will not preserve your rights.

In your letter, give us the following information:
  • Your name and Account number.
  • The dollar amount of the suspected error.
  • Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are not sure about.

Your Rights and Our Responsibilities After We Receive Your Written Notice
 We must acknowledge your letter within 30 days, unless we have corrected the error by then. Within 90 days, we must either correct the error or explain why we believe the bill was correct.

After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount you question, including finance charges, and we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question.

If we find that we made a mistake on your bill, you will not have to pay any finance charges related to any questioned amount. If we didn’t make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due.

If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill. And, we must tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter has been settled between us when it finally is.

If we don’t follow these rules, we can’t collect the first $50 of the questioned amount, even if your bill was correct.


Special Rule for Credit Card Purchases
 If you have a problem with the quality of property or services that you purchased with a credit 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 property or services. There are two limitations on this right:

(a) You must have made the purchase in your home state or, if not within your home state, within 100 miles of your current mailing address; and

(b) The purchase price must have been more than $50. These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement for the property or services.

PUERTO RICO RESIDENTS: You may request a copy of the Agreement in Spanish
 
PRIVACY POLICY

This Privacy Policy describes our information collection and sharing practices. Please read it carefully. The Policy applies to current and former customers and applicants in their relationships with us relating to consumer Wal-Mart® Credit Card and Wal-Mart® Discover® Accounts of Synchrony Bank (“we” or “us”).

Information We Collect — We collect personally identifiable information about you (such as your address, phone number, social security number, mother’s maiden name and transaction information about items purchased, payments and payment method), for identification, account management, servicing and marketing purposes. We obtain information about you directly from you (such as on application forms), through your use of our products and services, and in some cases, from third parties (such as credit bureaus and demographic firms). Occasionally, we may also collect information about you online using “cookies” (small pieces of data stored by your Internet browser on your computer) or other technology that may be used to remember passwords for you, to track your website usage with us, and to provide you with customized content, among other things.

Information We Share with Others — We may use and share all of the information we collect, subject to applicable law with the following (these examples are not intended to be all-inclusive):

  • Wal-Mart Stores, Inc. and its affiliates, for use in connection with the consumer Wal-Mart® Credit Card and the Wal-Mart® Discover® programs and as otherwise permitted by law. They may use this information to update their records, to provide you with notices of special promotions and other tailored offerings, to answer questions about your Account and perform other Wal-Mart® Credit Card and Wal-Mart® Discover® functions or for other purposes permitted by law. They may use their affiliates, licensees, or third-party service providers (such as modeling and database companies) to assist them in any of these activities.

  • Service Providers, (including our affiliates) to assist us in servicing Accounts, like preparing billing statements and promotional materials, and responding to customer inquiries. We also may use marketing firms, such as modeling companies, to assist us in our own marketing efforts. We also provide information to merchants who accept the Card, for purposes such as authorizing and processing transactions.

  • Financial Institutions with Whom We Jointly Offer Financial Products, such as loan products or credit insurance. If your billing address is in Vermont, this information will be limited to your name and contact information, and transaction and experience information on your Account.

  • Our Affiliates, who are other companies in the General Electric Company corporate family (“GE Family”), for servicing or marketing purposes, subject to your right to opt out of sharing of credit eligibility information, such as certain information from credit bureaus and your application, as provided in the It’s Your Choice section below. And, subject to your right to opt out, our affiliates also may use information from us concerning you credit eligibility, and your transactions and experience with us, to send you marketing solicitations about products and services.

  • Third Parties, who are interested in offering special products or services to you, subject to your right to opt out as provided in the It’s Your Choice section below. For example, we disclose information, either directly or through Wal-Mart Stores, Inc. to financial services providers offering products such as insurance, mortgages or loans, and nonfinancial companies offering consumer products and services. We may disclose name, address and telephone numbers, as well as Account purchase and performance history.

  • Others: We report Account information, such as credit limit, balances and payment information, to credit bureaus. In addition, we may buy and sell assets, lines of business and/or Accounts. When this occurs, customer information generally is disclosed to bidders and is one of the transferred business assets. We also disclose information about you to third parties in certain other circumstances, as permitted by law.

Our Security Procedures — We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard nonpublic personal information about you. We limit access to personal and Account information to those employees and agents who assist us in providing products and services to you. We also require third parties to whom we disclose nonpublic personal information to adhere to this Privacy Policy and to establish information security procedures.

Your Access to Information — We provide you access to information about your Account by sending you monthly billing statements outlining your transactions, finance charges, and other Account information, and by providing customer service representatives to answer your questions.

How This Policy Applies to You The examples contained in this Privacy Policy are illustrations only, and are not intended to be all-inclusive. If you decide to close your Account or become an inactive customer, or if we close or suspend your Account, we will continue to adhere to the privacy policies and practices described in this notice to the extent we retain information about you. We may amend this Privacy Policy at any time, and we will inform you of changes as required by law. You may have other privacy protections under state laws and we will comply with applicable state laws when we disclose information about you. This Privacy Policy applies only to consumer Wal-Mart® Credit Card and Wal-Mart® Discover® Accounts of Synchrony Bank and does not apply to any other accounts you may have with us, and replaces our previous disclosures to you about our information practices.

It’s Your Choice - You have the right to opt out of our sharing of information with certain third parties, as described below.To opt out please call us toll-free at 1-866-611-1149, or write to us at P.O. Box 981416, El Paso, TX 79998-1416. If you have previously informed us of your preference, you do not need to do so again.

    Please do not share information about me with companies outside the GE Family, other than with Wal-Mart Stores, Inc. and its affiliates for use in connection with the Wal-Mart® Credit Card and the Wal-Mart® Discover® programs and as otherwise permitted by law. Please do not share with companies within the GE Family information you use to determine my eligibility for credit. And please do not allow companies within the GE Family to solicit me for products and services based on transaction, experience or credit eligibility information they receive from you.

Important Notes About Your Choice

  • Please understand that, even if you opt out as described above, we will continue to share information with the retailer associated with your Account, joint marketing partners and service providers as described in this policy, and as otherwise permitted by law. And we will continue to share information that identifies you, and about your transactions and experiences with us, with companies within the GE Family.

  • If you have a joint account, a request by one party will apply to all parties on the account.

  • We will process your request promptly. However, it may take us several weeks to ensure that all records are updated with your preference. In the interim, you may continue to be included in programs as described above. Also, after your request is processed, you may still be contacted by our affiliates and/or other companies based on their own information.

  • Even if you opt out, we will continue to provide you with billing inserts and mail notices of special offers and new benefits.

  • Vermont Residents: If (and while) your billing address is in Vermont, we will treat your Account as if you had exercised the opt-out choice described above and you do not need to contact us in order to opt out. If you move from Vermont and you wish to restrict us from sharing information about you as provided in this Policy, you must then contact us to exercise the opt-out choice described above.

Si desea recibir una copia de este aviso en español por favor llame al 877-294-7880.

C77W(9/05)5561-I Rev 7/06