IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
\nTo help the United States fight the funding of terrorism and money laundering activities, U.S. law requires all financial institutions to obtain, verify, and record information that identifies each customer that opens an account.
\nWhat this means for you: When you open an account with us, we will ask for your and/or your business’s legal name, address, date of birth, tax identification number, and other identifying information that will assist us with identifying you and/or your business. We may also ask to see your photo identification (driver’s license) or other identifying documents. For businesses, we may ask for copies of certified articles of incorporation, an unexpired government-issued business license, a partnership agreement, or other documents that indicate the existence and standing of the entity.
| Interest Rates and Interest Charges | Secured Visa® Card |
| Annual Percentage Rate (APR) for Purchases | Secured: 27.49%\n\nThis APR will vary with the market and is based on the Prime Rate. |
| APR for Balance Transfers | Secured: 27.49%\n\nThis APR will vary with the market and is based on the Prime Rate. |
| APR for Cash Advances | Secured: 29.49%\n\nThis APR will vary with the market and is based on the Prime Rate. |
| Penalty APR and When it Applies | Not applicable |
| How to Avoid Paying Interest on Purchases | Your due date is 24 - 30 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month. |
| Minimum Interest Charge | If you are charged interest, the charge will be no less than $1. |
| For Credit Card Tips from the Consumer Financial Protection Bureau | To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore |
| Fees | Secured Visa® Card |
| Annual Fee | |
| None |
| Transaction Fees | |
| Either 5% of the amount of each transfer or $5 minimum, whichever is greater. |
| Either 5% of the amount of each advance or $5 minimum, whichever is greater. |
| Either 5% of the amount of each advance or $10 minimum, whichever is greater. |
| Either 5% of the amount of each advance or $10 minimum, whichever is greater. |
| Either 5% of the amount of each advance or $10 minimum, whichever is greater. |
| $10 |
| 3% of each foreign transaction |
| Penalty Fees | |
| Up to $41 |
| Up to $41 |
| None |
By submitting this application, you understand and agree that Elan Financial Services (\"we,\" \"us\" or \"our\"), as the creditor and issuer of your Account, will rely on the information provided here in making this credit decision, and you certify that such information is accurate and complete to the best of your knowledge. If we open an Account based on this Application, you will be individually liable (or, for joint Accounts, individually and jointly liable) for all authorized charges and for all fees referred to in the most recent Cardmember Agreement, which may be amended from time to time. We may request consumer credit reports about you for evaluating this Application and in the future for reviewing Account credit limits, for Account renewal, for servicing and collection purposes and for other legitimate purposes associated with your Account. Upon your request, we will inform you if a consumer report was requested and, if it was, provide you with the name and address of the consumer reporting agency that furnished the report. By providing us with a telephone number for a cellular phone or other wireless device, including a number that you later convert to a cellular number, you are expressly consenting to receiving communications—including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an automatic telephone dialing system—from us and our affiliates and agents at that number. This express consent applies to each such telephone number that you provide to us now or in the future and permits such calls for non-marketing purposes. Calls and messages may incur access fees from your cellular provider. By submitting this application, you also agree that we may verify your employment, income, address and all other information provided with other creditors, credit reporting agencies, employers, third parties and through records maintained by federal and state agencies (including state motor vehicle departments) and waive any rights of confidentiality you may have in that information under applicable law. You agree that, in order to open and administer the Account that may be established as a result of this Application, we and the correspondent financial institution that solicited this Application may share certain information about you and your ongoing Account activity. By submitting this application, you certify that you read and understood the disclosures here and you agree to the terms of this Application.
Authorization for the Social Security Administration to Disclose Your Social Security Number Verification: You authorize the Social Security Administration (SSA) to verify and disclose to U.S. Bank National Association through Early Warning Services, LLC or Socure Inc., their service provider for the purpose of this Application, whether the name, Social Security Number (SSN) and date of birth you have submitted matches information in SSA records, including the basis for a no-match response. Your consent is for a one-time validation within the next 90 days.
\n\nBy selecting the Confirm & submit button, you are signing the consent for SSA to disclose your SSN Verification to U.S. Bank National Association and Early Warning Services, LLC or Socure Inc. You agree that your electronic signature has the same legal meaning, validity, and effect as your handwritten signature.
\nBalance Transfer Information: Balance transfer transactions from other Elan Financial Services accounts are not permitted. You may cancel a balance transfer request within 10 days of account opening by calling the number on the back of your credit card. After 10 days from account opening, requests to stop payment on Balance Transfer Check(s) issued by Elan shall not be honored unless the check(s) has been stolen, lost or destroyed.
TIN Certification: Under penalties of perjury, I certify that (1) the number shown on this application is my correct taxpayer identification number and (2) I am not subject to backup withholding because: a) I am exempt from backup withholding, or b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or c) the IRS has notified me that I am no longer subject to backup withholding, 3) I am a U.S. citizen or other U.S. person, and (4) the FATCA code(s) entered on this form (if any) indicating that I am exempt for FATCA reporting is correct. I must cross out item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because I have failed to report all interest and dividends on my tax return.
\nSecurity Agreement: As a condition to obtaining a Secured Visa® Card (the \"Credit Card Account\"), I hereby grant to U.S. Bank National Association (\"you\") a security interest in, and assign and transfer to you all rights, title, and interest in my Secured Savings Account (the “SSA”) held at U.S. Bank National Association and all interest, additions, and proceeds therein to secure the payment and performance of my obligations to you under the terms of the Credit Card Account Cardmember Agreement. I hereby instruct U.S. Bank National Association to open the designated SSA in the name of \"U.S. Bank -
\n________________________________________________________
(Insert applicant’s name)
Secured Credit Card Collateral Account\" using the Primary Applicant's name and Social Security Number or Taxpayer Identification Number provided on this application. I agree that while this security interest is in effect, you will have the exclusive dominion and control and you will have the sole right and power to redeem, collect, and withdraw any part or the full amount of the SSA. If I am in default under the terms of my Credit Card Account Cardmember Agreement, I agree that you will have all rights the law allows, including the right to take funds from the SSA and apply them to my Credit Card Account balance without notice to, or further consent from, me. I understand and agree that, based upon your periodic review of my overall credit history (including this Credit Card Account and other credit cards and loans), I may qualify to have the funds in the SSA released. I understand that if you determine that the funds from my SSA may be released, you will release the funds to the Cardmember(s) and this Credit Card Account will no longer be a secured credit card account.
By signing below, I agree to the terms of the Secured Savings Account application, TIN Certification, and Security Agreement, and I agree that all agreements between you and me will be made when accepted or approved by you.
I understand that the Internal Revenue Service does not require my consent to any provision of this document other than the certifications required to avoid backup withholding.
*Secured Savings Account provided by U.S. Bank National Association. Member FDIC
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Signature of Applicant Date