Tandym Customer Agreement Issued by Celtic Bank
WELCOME TO TANDYM
Thank you for opening a line of credit with us. Tandym is not a bank. Credit is issued by Celtic Bank. This Customer Agreement, including any changes to it (“Agreement”), contains the terms of your agreement with Tandym and CelticBank.
How Do You Calculate My Balance? We use a method called Daily Balance (including new transactions). See the "How Do You Calculate The Interest Charge?" section below.
What Are My Billing Rights? Information on your rights to dispute transactions and how to exercise those rights is provided in "Your Billing Rights Summary" on your Statement, in your customer agreement, and other Truth-in-Lending Disclosures.
How Do You Calculate My Minimum Payment? Your total minimum payment is calculated as follows:
The greater of:
1. $29
OR
2. The sum of:
a. The following amounts:
i. Any past due amounts; PLUS
ii. 3% of the principal balance; PLUS
iii. Any fees unpaid (fees charged, net of payments towards fees) in the current billing cycle; PLUS
iv. Any interest unpaid (interest charged, net of payments towards interest) in the current billing cycle.
Your total minimum payment will never be more than your new balance; if your balance is less than $29, your minimum payment will be equal to your balance. If your account charges off, the entire balance is due immediately.
THINGS YOU SHOULD KNOW ABOUT THIS PRODUCT
How Do You Calculate My Variable Rates? Your variable rates may change when the Prime Rate changes. We calculate variable rates by adding a percentage to the Prime Rate published in The Wall Street Journal on the 25th day of December, March, June and September. If the Journal is not published on that day, then see the immediately preceding edition. Variable rates on the following segment(s) will be updated quarterly and will take effect on the first day of your January, April, July and October billing periods: Non-introductory Purchase APR: Prime plus 21.99%. Any increase in the Prime Rate may increase your Interest Charges and your Minimum Payment.
What Are The Daily Periodic Rates Used To Calculate My Interest? The daily periodic rate for your Purchase APR is 0.08353%. See “How Do You Calculate The Interest Charge?” section in the enclosed Additional Disclosures.
How Do You Calculate The Interest Charge? We use a method called Daily Balance (including new transactions). Under this method, we apply the daily periodic rate to your daily balance for each day in the billing cycle.
- To get the daily balance, we take the day’s beginning balance and add in new transactions made that day. We then subtract any payments and credits for that segment as of that day. The result is the daily balance for each segment.
- To get the daily interest, we multiply the daily balance by the applicable daily periodic rate.
- To get the end of day balance, we add the balance found in Step 1, the daily interest calculated from Step 2, and add on any fees that were incurred that day.
- To get the beginning balance for the next day, we take the previous day’s end of day balance, as calculated in Step 3.
- To get the interest charge for the billing cycle, we add all the daily interest amounts that were accumulated during the billing cycle and subtract out any payments made towards the interest balance during the billing cycle
If your account is in an interest free-period (also known as Grace Period), interest is not charged on new purchases. Your account is in an interest-free period if you paid the most recent Statement Balance by the due date and time or if your current statement started with a $0 balance. You can regain the benefit of the interest-free period by paying your most recent Statement Balance in full.
Welcome to Tandym
Thank you for opening a line of credit with us. This Customer Agreement, including any changes to it (“Agreement”), contains the terms of your agreement with Tandym.
Definitions
The meaning of the terms you see in italics appear in the Glossary section at the end of this Customer Agreement.
As used here, “you” and “your” mean each applicant and co-applicant for the Account; any person responsible for paying the Account; and any person responsible for complying with this Customer Agreement. “We,” “us,” “our,” and “Tandym” mean Tandym, Inc.; and its agents, authorized representatives, successors, and assignees.
Account Documents
The following documents govern your Account with us:
1. This Customer Agreement;
2. All Statements;
3. Any rewards program terms, conditions, and disclosures;
4. Any privacy notices;
5. All disclosures and materials provided to you before or when you opened your Account;
6. Any other documents and disclosures relating to your Account, including those we provided online; and
7. Any future changes we make to any of the above.
New Offers
In the future, we may provide you with new offers that we think may interest you. The terms of these offers may differ from the standard terms on your Account. This Customer Agreement will still apply.
Account Information
We need information about you to manage your Account. This includes:
1. Your legal name;
2. A valid U.S. mailing address and residential address (if different), or a U.S. military location;
3. Your date of birth;
4. Your Social Security number or other government identification number;
5. Your telephone number; and
6. Your employment and income information.
You must tell us when this information changes. We may ask you for additional documents to verify any changes. We may restrict or close your Account if we cannot verify your information, or if you do not provide it as requested.
No pre-set spending limit
does not mean unlimited spending. Purchasing power adjusts with your use of the Product, your payment history, credit record and financial resources known to us, and other factors. Charges are approved based on a variety of factors, including your account history, credit history, and personal resources.
Using Your Account
- This Customer Agreement applies whether or not you use your Account. It will continue to apply even after your Account is closed, as long as you have a balance.
- You must take reasonable steps to prevent the unauthorized use of your Account.
- We may decline to authorize a transaction for any reason. This may occur even if the transaction would not cause you to go over your revolving credit line or your Account is not in default.
- We are not responsible for any losses you incur if we do not authorize a transaction.
- We are not responsible for any losses you incur if anyone refuses to accept your Account for any reason.
- Unless we tell you otherwise, we will bill each transaction to the applicable Segment of your Account. We will apply it against your available credit for that Segment.
- You must not use, or try to use, the Account for any illegal activity. You are responsible for any charges if you do.
- We are not liable for any losses that may result when our services are unavailable due to reasons beyond our control.
Rewards
Your Account may provide you with the opportunity to earn rewards. If it does, we will separately provide you with information and terms about the rewards.
Using a One-time PIN
We may give you a one-time personal identification number (PIN). For security reasons, you may have to provide the one-time PIN before you are able to access or otherwise use your Account. Tandym customer service representatives will never ask you for your one-time PIN.
Your Promise to Pay
You promise to pay us all amounts due on your Account. This includes amounts where you did not sign a purchase slip or other documents for the transaction. If you let someone else use your Account, you are responsible for all transactions that person makes.
Statements
We will generally send or make available to you one Statement for all transactions on your Account at the end of each Billing Cycle. Under certain circumstances, the law may not require us to send or make available to you a Statement, or may prohibit us from doing so.
Disputed Transactions
You must inspect each Statement you receive. Tell us about any errors or questions you have, as described in the “Billing Rights Summary” on your Statement and other Truth-in-Lending Disclosures. If you do not notify us of an error, we will assume that all information on the Statement is correct.
If we credit your Account for all or part of a disputed transaction, you give us all of your rights against others regarding that transaction. You will also:
- Give us any information about the disputed transaction, if we ask;
- Not pursue any claim or reimbursement of the transaction amount from the merchant or any other person; and
- Help us get reimbursement from others.
No Warranties
We are not responsible for any claim you may have regarding the purchase of goods or services made with your Account beyond your rights described in the “Billing Rights Summary” on your Statement.
Compromised Account
If your Account is using your Account without your permission or you believe your Account is compromised in any way, you must contact us immediately. You will not be responsible for transactions on your Account that we find are unauthorized.
If we reimburse you for unauthorized transactions, you will help us investigate, pursue, and get reimbursement from the wrongdoer. Your help includes giving us documents in a form that we request.
Interest Charges and Fees
We will charge Interest Charges and Fees to your Account as disclosed on your Statement and other Truth-in-Lending Disclosures. In general, Interest Charges begin to accrue from the day a transaction occurs. However, we will not charge you interest on any new transactions posted to the purchase Segment of your Account if you paid the total balance across all Segments of your Account in full by the due date on your Statement each month. From time to time, we may give you offers that allow you to pay less than the total balance and avoid Interest Charges on new purchase Segment transactions. If we do, we will provide details in the specific offer.
We will generally treat Fees as purchase transactions unless otherwise specified below. These Fees apply to your Account only if your Truth-in-Lending Disclosures provide for them. We may increase your Interest Charges and Fees as described in the Changes to Your Customer Agreement section or in your Truth-in-Lending Disclosures.
Late Payment Fee
We may charge you this Fee if we do not receive your payment as instructed on your Statement by the payment due date.
Minimum Payment
You must pay us at least the minimum payment amount by the payment due date. Your Statement will tell you:
- The minimum payment due,
- Your new balance,
- The payment due date, and
- An explanation of when the payment must reach us for us to consider it received as of that date.
Returns and other credits to your Account will reduce your Account balance, but they will not change your minimum payment amount.
In addition to the minimum payment, you may pay all or part of the total balance on your Account. But, you must still pay at least the minimum payment amount each month, even if you paid more than the minimum payment due on the previous Statement. We will continue to charge Interest Charges during Billing Cycles when you carry a balance regardless of whether your Statement includes a minimum payment that is due. If your Account is 180 days past due, is part of a bankruptcy proceeding, or is otherwise charged off, the total balance is immediately due and payable.
Making Payments
Your payment must be made in U.S. dollars from a U.S. depository account in a form acceptable to us. We do not accept cash payments. You may not make payments with funds from your Account or any other credit account with us. Your payment must be made in U.S. dollars from a U.S. depository account in a form acceptable to us. We do not accept cash payments. You may not make payments with funds from your Account or any other credit account with us.
Other Payment Services
We may make services available that allow you to make faster or recurring payments online. We will describe the terms for using these services and any applicable Fee before you use them. You do not have to use these other payment services.
We are not responsible if your financial institution rejects a payment made using our payment services.
If you ask someone else to make a payment for you, we may provide that person with limited Account information necessary to set up and process that payment. We may also refuse to accept that payment. If we do accept it, you will be responsible for that payment even if a financial institution rejects it.
Payment Processing
We may accept and process payments without losing any of our rights. We may delay the availability of credit until we confirm that your payment has cleared. This may happen even if we credit your payment to your Account. We may resubmit and collect returned payments electronically. If necessary, we may adjust your Account to correct errors, process returned and reversed payments, and handle similar issues.
When you send us an Item as payment, you authorize us to make a one-time electronic fund transfer from your deposit account. You also authorize us to process the payment as an Item. We may withdraw the funds from your deposit account as early as the same day we receive your payment. You will not receive your Item back from your bank. We will provide additional information about this process on your Statement.
We may use the information from an Item to create an electronic image. We may collect and return the image electronically. This electronic image may also be converted to a substitute check and may be processed in the same way we could process an Item. We will not be responsible if an Item you provide has physical features that when imaged result in it not being processed as you intended.
How We Apply Your Payments
Your Account may have Segments with different Annual Percentage Rates (APR). For example, promotional purchases may have a lower APR than standard purchases. If your Account has Segment balances with different APRs, here is how we apply payments in a Billing Cycle:
- We generally apply credits and payments up to your minimum payment first to the balance with the lowest APR, and then to balances with higher APRs.
- We apply any part of your payment exceeding your minimum payment to the balance with the highest APR, and then to balances with lower APRs.
Credit Balances
We may reject and return any payment that creates or adds to a credit balance on your Account. Any credit balance we allow will not be available until we confirm that your payment has cleared. We may reduce the amount of any credit balance by any new charges. You may write to the address provided on your Statement or contact Customer Service to request a refund of any available credit balance.
Account Default
You will be in default if:
- You do not make any payment when it is due;
- Any payment you make is rejected, not paid, or cannot be processed;
- You file or become the subject of a bankruptcy or insolvency proceeding;
- You are unable or unwilling to repay your obligations, including upon death or legally declared incapacity;
- We determine that you made a false, incomplete, or misleading statement to us, or you otherwise tried to defraud us;
- You do not comply with any term of this Customer Agreement or any other agreement with us; or
- You permanently reside outside the United States.
If you are in default, we may take certain actions with respect to your Account. For example, depending on the default, we may take the following actions, without notifying you, unless the law says that we must give you notice:
- Charge you Fees, or change the APRs and Fees on your Account, if provided in your Truth-in-Lending Disclosures;
- Close or suspend your Account;
- Lower your revolving credit line;
- Demand that you immediately pay the total balance owing on your Account;
- Continue to charge you Interest Charges and Fees as long as your balance remains outstanding; and/or
- File a lawsuit against you, or pursue another action that is not prohibited by law. If we file a lawsuit, you agree to pay our court costs, expenses, and attorney fees, unless the law does not allow us to collect these amounts.
Communications
You agree that we may communicate with you by mail, telephone, email, pre-recorded message, automated voice, text message, or other means allowed by law regarding your Account.
You agree that we may contact you at any telephone number (including a mobile telephone number that you provide us), and use an automated telephone dialing system or similar device to do so. You agree that we may monitor or record any conversation or other communication with you.
Credit Reports
We may report information about your Account to credit bureaus and others. Late payments, missed payments, or other defaults on your Account may be reflected in your credit report. Information we provide may appear on your credit reports.
If you believe that we have reported inaccurate information about your Account to a credit bureau or other consumer reporting agency, notify us at support@bytandym.com. When you notify us, tell us the specific information that you believe is incorrect and why you believe it is incorrect.
We may obtain and use credit, income, and other information about you from credit bureaus and others as the law allows.
Closing or Suspending Your Account
You may contact Customer Service to ask us to close your Account.
We may close or suspend your Account at any time and for any reason permitted by law, even if you are not in default.
If we close or suspend your Account for any reason, you must stop using your Account. You must also cancel all billing arrangements set up on the Account. You must still pay us all amounts you owe on the Account.
Changes to Your Customer Agreement
At any time, we may add, delete, or change any term of this Customer Agreement, unless the law prohibits us from doing so. We will give you notice of any changes as required by law. We may notify you of changes on your Statement or in a separate notice. Our notice will tell you when and how the changes will take effect. The notice will describe any rights you have in connection with the changes.
Your variable APRs (if applicable) can go up or down as the index for the rate goes up or down. If we increase your APRs for any other reason, or if we change your Fees or other terms of your Account, we will notify you as required by law.
The Law That Applies to Your Customer Agreement
We make decisions to grant credit and issue you an Account pursuant to Utah law. This agreement is governed by applicable federal law and the Utah law. If any part of this Customer Agreement is unenforceable, the remaining parts will remain in effect.
Waiver
We will not lose any of our rights if we delay or choose not to take any action for any reason. We may waive our right without notifying you. For example, we may waive your Interest Charges or Fees without notifying you and without losing our right to charge them in the future.
Assignment
This Customer Agreement will be binding on, and benefit, any of your and our successors and assigns. You may not sell, assign, or transfer your Account or this Customer Agreement to someone else without our written permission.
We may sell, assign, or transfer your Account and this Customer Agreement without your permission and without prior notice to you. Any assignee or assignees will take our place under this Customer Agreement. You must pay them and perform all of your obligations to them and not us. If you pay us after we notify you that we have transferred your Account or this Customer Agreement, we can return the payment to you, forward the payment to the assignee, or handle it in another way that is reasonable.
Glossary
“Account” means your line of credit account with us.
“Billing Cycle” means the period of time reflected on a Statement. This period may vary in length, but is approximately 30 days. You will have a Billing Cycle even if a Statement is not required. We will often specify a Billing Cycle by the month in which its closing date occurs. For example, a “March Billing Cycle” will have a closing date in March. We may also refer to a Billing Cycle as a “Billing Period.” If your Account balance has charged off, we may switch to quarterly Billing Cycles for your Account.
“Fees” means charges imposed on your Account not based on the Annual Percentage Rates.
“Interest Charges” means any charges to your Account based on the application of Annual Percentage Rates.
“Item” means a check, draft, money order, or other negotiable instrument you use to pay your Account. This includes any image of these instruments.
“Segments” means the different parts of your Account we may establish that are subject to unique APRs, pricing, or other terms. We create these parts of your Account for such things as your purchases and promotional offers. The sum of your Segment balances equals your total Account balance.
“Statement” means a document showing important Account information, including all transactions billed to your Account during a Billing Cycle and information about what you must pay. We may also refer to your Statement as a “Periodic Statement” or a “Billing Statement.”
“Truth-in-Lending Disclosures” means disclosures that the federal Truth in Lending Act and Regulation Z require for any Account. This includes your application and solicitation disclosures, Account opening disclosures, subsequent disclosures, Statements, and change in terms notices.
ADDITIONAL DISCLOSURES & TERMS AND CONDITIONS
Your Billing Rights: Keep This Document For Future Use
This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.
What To Do If You Find A Mistake On Your Statement
If you think there is an error on your statement, write to us at:
Email: support@bytandym.com
Phone: 1-888-874-4889
Mail:
Tandym
1720 W Division St
ATTN: Tandym
Chicago, IL 60622
In your letter, give us the following information:
- Account information: Your name and account number.
- Dollar amount: The dollar amount of the suspected error.
- Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.
You must contact us:
- Within 60 days after the error appeared on your statement.
- At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong.
You must notify us of any potential errors in writing or electronically. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.
What Will Happen After We Receive Your Letter
When we receive your letter, we must do two things:
- Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
- Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is correct.
While we investigate whether or not there has been an error:
- We cannot try to collect the amount in question, or report you as delinquent on that amount.
- The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
- While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
- We can apply any unpaid amount against your credit limit.
After we finish our investigation, one of two things will happen:
- If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
- If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.
If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.
If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
If you are dissatisfied with the goods or services that you have purchased with your 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 purchase.
To use this right, all of the following must be true:
- The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these are necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
- You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your credit card account do not qualify.
- You must not yet have fully paid for the purchase.
If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing or electronically at:
Email: support@bytandym.com
Phone: 1-888-874-4889
Mail:
Tandym
1720 W Division St
ATTN: Tandym
Chicago, IL 60622
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay, we may report you as delinquent.
The Card Issuer:
Tandym loan products are issued by Celtic Bank