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Nordstrom Bank

Disclosure Summary

To proceed with your application, you must acknowledge that you have reviewed the following disclosure summary and other important information. You will receive the Nordstrom Bank Cardholder Agreement; Consumer Disclosures (the "Cardholder Agreement") with your Nordstrom credit card. The Cardholder Agreement sets forth the terms and conditions that apply to your Nordstrom account. Subject to applicable law, (a) Nordstrom Bank has the right to change any term of the Cardholder Agreement at any time and (b) the change may be applied to any amount you owe Nordstrom Bank at the time of the change. Nordstrom Bank will give you written notice before the effective date of any such change, if required by applicable law. Credit account subject to approval.

Interest Rates and Interest Charges

Annual Perctange Rate (APR) for Nordstrom Purchases

Tier i
10.90%

Tier ii
14.90%

Tier iii
18.90%

Tier iv
22.90%

Your APR will be assigned when you open your account, based on your creditworthiness. After that, your APR will vary with the market based on the Prime Rate. The APR assigned to your account for Nordstrom Purchases will be printed on the temporary card you receive when you open your account.

APR for Non-Nordstrom Purchases and Cash Advances

Tier i
14.90%

Tier ii
18.90%

Tier iii
22.90%

Tier iv
22.90%

Your APR will be assigned when you open your account, based on your creditworthiness. After that, your APR will vary with the market based on the Prime Rate. The APR assigned to your account for Non-Nordstrom Purchases and Cash Advances will be printed on the reverse of the card carrier letter you will receive with your credit card.

Penalty APR and When It Applies

27.90%

This APR will vary with the market based on the Prime Rate.

This APR may be applied to your account if your minimum payment is not received within 60 days of your due date.

How long will the Penalty APR apply? If your APRs are increased for this reason, the Penalty APR will apply until you make six consecutive minimum payments when due.

Paying Interest

Your due date is at least 25 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. We will begin charging interest on cash advances on the transaction date.

Minimum Interest Charge

If you are charged interest, the charge will be no less then $0.50.

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

Annual Fee

None

Transaction Fees

  • Cash Advance:

  • Foreign Transaction:

 

  • Either $5 or 3% of the amount of each cash advance, whichever is greater.

  • 1% of each transaction in U.S. Dollars.

Penalty Fees

  • Late Payment:

  • Returned Payment:

 

  • Up to $35

  • $25

How We Will Calculate Your Balance:
We use a method called "daily balance". See below and your Cardholder Agreement for more details.

Billing Rights:
Information on your rights to dispute transactions and how to exercise those rights is provided below and in your Cardholder Agreement.

WISCONSIN RESIDENTS:
No provision of a marital property agreement, a unilateral statement under section 766.59, Wis. Stats., or a court decree under section 766.70, Wis. Stats., adversely affects the interest of the creditor unless the creditor, prior to the time credit is granted, is furnished a copy of the agreement, statement or decree or has actual knowledge of the adverse provision when the obligation to the creditor is incurred.

Nordstrom Bank is a trade name of Nordstrom fsb, a wholly owned subsidiary of Nordstrom, Inc.

INTEREST CHARGES

a. Balance Categories.
Interest Charges are calculated separately for Purchases and Cash Advances. "Purchases" are purchases of goods or services from a Nordstrom or other merchant location. "Cash Advances" are advances from an automated teller machine (ATM); through a convenience check, home banking, a financial institution, casino, hotel, or similar location; by making a wire transfer, balance transfer, or bill payment; by acquiring a money order, traveler's check, lottery ticket, casino chip, or similar item; or other similar transactions. Interest charges also will be calculated separately for Purchases at Nordstrom retail locations, such as Nordstrom stores, Nordstrom Rack stores and Nordstrom.com ("Nordstrom Purchases"), and Purchases at merchant locations other than Nordstrom retail locations ("Non-Nordstrom Purchases"). In this Agreement, a separate balance for Nordstrom Purchases, Non-Nordstrom Purchases or Cash Advances is sometimes called a "Balance Category". My billing statement may show a single calculation of interest charges for multiple Balance Categories if the same Daily Periodic Rate applies to the Balance Categories.

b. When Interest Charges Begin to Accrue on Purchases.
My due date is at least 25 days after the close of each billing cycle. In order to be eligible for a grace period on Purchases for the current billing statement, I must pay my New Balance in full by the payment Due Date shown on that billing statement. If I do not pay the entire amount of the New Balance by that date, there will be a interest charge on each Purchase from the date the Purchase is made. For the purposes of this paragraph (b), Nordstrom Bank will consider credits to my Credit Card Account resulting from an exchange or return of a Purchase included in the Previous Month's New Balance only when determining if I have paid the entire New Balance shown on my monthly billing statement by the payment Due Date.

c. When Interest Charges Begin to Accrue on Cash Advances.
There is no "grace period" for Cash Advances. The interest charge on any Cash Advance begins on the date of the transaction. This paragraph applies only to Credit Card Accounts that have a Cash Advance feature.

d. Daily Balance Method for Computation of the Balances Subject to Interest Charges.
Nordstrom Bank figures the interest charge  by applying the periodic rate (as described below in paragraph e) to the "daily balance" of my account for each day in the billing cycle.  To get the "daily balance" of a Balance Category, Nordstrom Bank takes the beginning balance of that Balance Category each day, adds any new transactions or charges and subtracts any credits or payments (or portions thereof) that are applicable to that Balance Category. This gives us the daily balance for each Balance Category. Each day's interest charge on a Balance Category is added to the daily balance of that Balance Category to get the beginning balance for the next day and will be part of the Balance Category on which future interest charges are assessed until paid. The total interest for a billing cycle is equal to the sum of the daily interest for each day in the billing cycle. Late Payment Fees and Return Payment Fees are pro rated and allocated to the Balance Categories based on the balances of my Balance Categories on the day I incurred the Late Payment Fee or Return Payment Fees. Miscellaneous fees will be added to my Nordstrom Purchase Balance Category on the day I incurred the fee. Nordstrom Bank will round daily interest charge calculations for a Balance Category to the nearest whole cent. If I paid in full the New Balance shown on my previous month's billing statement by the specified payment Due Date, Nordstrom Bank will consider my daily balance of Nordstrom Purchases and Non-Nordstrom Purchases to be zero for each day of the current month's billing cycle. A credit balance on a Balance Category is considered to be zero for purposes of calculating the balance subject to interest charges.

e. Interest Charge Rates.
The Daily Periodic Rate for a Balance Category is determined by dividing the ANNUAL PERCENTAGE RATE for the Balance Category by 365. The ANNUAL PERCENTAGE RATE for a Balance Category is determined by adding a percentage rate (called a "Margin") to the Prime Rate for a billing cycle. The ANNUAL PERCENTAGE RATE (and Daily Periodic Rate) for a Balance Category may vary from billing cycle to billing cycle if the Prime Rate for a billing cycle changes. The "Prime Rate" is the highest prime rate published in the "Money Rates" section of The Wall Street Journal print edition on the 15th day of a month, or the next business day if the 15th is not a business day. The Prime Rate for a billing cycle is the Prime Rate most recently available as of the beginning of the billing cycle.

Any change in the ANNUAL PERCENTAGE RATE (and Daily Periodic Rate) will take effect on the first day of the next billing cycle following a change in the Prime Rate and will apply to any outstanding balance on my Credit Card Account. If the ANNUAL PERCENTAGE RATE (and Daily Periodic Rate) increases, the amount of the interest charges and the Current Due may increase.The ANNUAL PERCENTAGE RATES that may apply to a Balance Category are the "Standard ANNUAL PERCENTAGE RATES" for the Balance Category (described in  paragraph f) and the "Penalty ANNUAL PERCENTAGE RATE" (described in paragraph g). All of the Standard ANNUAL PERCENTAGE RATES (and Daily Periodic Rates) applicable to my Credit Card Account will be disclosed in the supplement to this Agreement I will receive with my Nordstrom credit card or Visa credit card.

f. Standard ANNUAL PERCENTAGE RATES.
The Standard ANNUAL PERCENTAGE RATE that applies to a Balance Category will depend on the Tier placement of my Credit Card Account. Nordstrom Bank will tell me the Tier in which my Credit Card Account has been placed before I may use my Nordstrom credit card or Visa credit card. The Standard ANNUAL PERCENTAGE RATES that apply to Balance Categories for Credit Card Accounts in Tiers I through IV are described below.

  • Tier I Accounts:
    The Standard ANNUAL PERCENTAGE RATE for Nordstrom Purchases is the Prime Rate plus a Margin of 7.65 percentage points. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 10.90%(Daily Periodic Rate of 0.02986% ).

    The Standard ANNUAL PERCENTAGE RATE for Non-Nordstrom Purchases and Cash Advances is the Prime Rate plus a Margin of 11.65 percentage points. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 14.90%. (Daily Periodic Rate of 0.04082% ).

  • Tier II Accounts:
    The Standard ANNUAL PERCENTAGE RATE for Nordstrom Purchases is the Prime Rate plus a Margin of 11.65 percentage points. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 14.90% (Daily Periodic Rate of 0.04082% ).

    The Standard ANNUAL PERCENTAGE RATE for Non-Nordstrom Purchases and Cash Advances is the Prime Rate plus a Margin of 15.65 percentage points. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 18.90%. (Daily Periodic Rate of 0.05178% ).

  • Tier III Accounts:
    The Standard ANNUAL PERCENTAGE RATE for Nordstrom Purchases is the Prime Rate plus a Margin of 15.65 percentage points. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 18.90%. (Daily Periodic Rate of 0.05178% ).

    The Standard ANNUAL PERCENTAGE RATE for Non-Nordstrom Purchases and Cash Advances is the Prime Rate plus a Margin of 19.65 percentage points. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 22.90%. (Daily Periodic Rate of 0.06274% ).

  • Tier IV Accounts:
    The Standard ANNUAL PERCENTAGE RATE for Nordstrom Purchases, Non-Nordstrom Purchases, and Cash Advances is the Prime Rate plus a Margin of 19.65 percentage points. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 22.90%. (Daily Periodic Rate of 0.06274% ).

g. Penalty ANNUAL PERCENTAGE RATE.
If I do not pay at least the Minimum Payment Due by the payment Due Date shown on my monthly billing statement for two consecutive billing cycles, my Credit Card Account will be subject to a Penalty ANNUAL PERCENTAGE RATE (rather than a Standard ANNUAL PERCENTAGE RATE ). A notice on my billing statement will reflect the date when this change will be effective. The Penalty ANNUAL PERCENTAGE RATE will apply to any outstanding balance and all future transactions on my Credit Card Account. The Penalty ANNUAL PERCENTAGE RATE is the Prime Rate plus a Margin of 24.65 percentage points. The Penalty ANNUAL PERCENTAGE RATE is subject to a maximum ANNUAL PERCENTAGE RATE of 29.99%. As of May 15, 2013, this ANNUAL PERCENTAGE RATE was 27.90%. (Daily Periodic Rate of 0.07644%).

PENALTY FEES

a. Late Payment Fee.
My Credit Card Account will be subject to a Late Payment Fee of up to $35 for any late or missed Minimum Payment Due.

b. Returned Payment Fee.
If any payment on my Credit Card Account (such as a check, draft, or similar instrument, or any electronic fund transfer) is uncollectible or dishonored for any reason, Nordstrom Bank may charge me and I agree to pay a Returned Payment Fee of $25. Nordstrom Bank may assess this fee the first time any one of my payment(s) is not honored or paid, even if such payment is later paid following resubmission. Nordstrom Bank does not have to attempt to collect any payment more than once.

BILLING RIGHTS NOTICE — KEEP THIS NOTICE FOR FUTURE USE

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

WHAT TO DO IF YOU FIND A MISTAKE ON YOUR STATEMENT

If you think there was an error on your statement, write to us at:

Nordstrom Bank
P.O. Box 13589
Scottsdale, AZ 85267.

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 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. 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:

  1. 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.
  2. 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 the 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 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.

For Visa Credit Card Accounts, to use this right, all of the following must be true:

  1. 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.)
  2. 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.
  3. You must not yet have fully paid for the purchases.

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at:

Nordstrom Bank
P.O. Box 13589
Scottsdale, AZ 85267

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.

Notice:

We may report information to credit bureaus about this account with respect to all approved applicants. Late payments, missed payments, or other defaults on this account may be reflected in your credit report.

APPLICANT(S)/BUYER(S)'S AGREEMENTS; CONSUMER CREDIT REPORTING AND INVESTIGATION.

Cards are issued and credit is extended by Nordstrom Bank, located in Scottsdale, AZ ("we," "us," or "our"). You hereby request a credit card and consent to our investigation of your credit, employment and income records and verification of your credit references. You authorize us to conduct such investigations and verifications as we deem appropriate in evaluating this application. You understand and agree that we may request a consumer report from a consumer reporting agency in connection with this application, and subsequently in connection with any extension of credit, or request to increase your credit limit, or any update, renewal, review, or collection of your account. You further authorize us, in our sole discretion, to furnish information concerning your account to consumer reporting agencies and others who may properly receive such information. You understand that you may submit this application to Nordstrom Bank electronically by clicking "Submit Application" and you acknowledge that regardless of whether you use a web browser with security features, Nordstrom Bank is unable to ensure that the data will not be intercepted by third parties. You agree that Nordstrom Bank will not be held liable should such interception occur.

IMPORTANT NOTICE ABOUT MY APPLICATION:

I acknowledge that I am applying for a Nordstrom credit card. If I have selected a Nordstrom Visa Signature and I do not qualify for a Nordstrom Visa Signature credit card, I request Nordstrom Bank consider my application a request for a Nordstrom retail credit card.

Nordstrom Bank Privacy Notice

FACTS WHAT DOES NORDSTROM BANK DO WITH YOUR PERSONAL INFORMATION?
Why?

Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

What?

The types of personal information we collect and share depend on the product or service you have with us, the information can include:

  • Social Security number and income
  • account balances and payment history
  • transaction history and credit history
How?

All financial companies need to share customers' personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers' personal information; the reasons Nordstrom Bank chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information Does Nordstrom Bank share? Can you limit this sharing?

For our everyday business purposes -
Such as to process your transaction, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus

Yes

No

For our marketing purposes -
To offer our products and services to you

Yes

No

For joint marketing with other financial companies

No

We don't share

For our affiliates' everyday business purposes -
Information about your transactions and experiences

Yes

No

For our affiliates' everyday business purposes -
Information about your creditworthiness

Yes

Yes

For nonaffiliates to market to you

No

We don't share

To limit our sharing
  • Call us toll-free at 1-866-759-0151 - our menu will prompt you through your choices.

Please note:

If you are a new customer, we can begin sharing your information thirty (30) days from the date we sent this notice. When you are no longer a customer, we continue to share your information as described in this notice.

However, you can contact us at any time to limit our sharing.

Questions?

Call us toll-free at 1-866-759-0151

What we do
How does Nordstrom Bank protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. For more information regarding our privacy practices, follow the Nordstrom Bank Privacy link located at the bottom of the page at nordstrombank.com.

How does Nordstrom Bank collect my personal information?

We collect your personal information, for example, when you

  • open an account or give us your income information
  • pay your bills or pay us by check
  • use your credit card or debit card

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can't I limit sharing?

Federal law gives you the right to limit only

  • sharing for affiliates' everyday business purposes - information about your creditworthiness
  • affiliates from using your information to market to you, subject to applicable law
  • sharing for nonaffiliates to market to you

State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.

What happens when I limit sharing for an account I hold jointly with someone else?

Your choices will apply to everyone on your account.

Definitions
Affiliates

Companies related by common ownership or control. They can be financial and nonfinancial companies.

  • Our affiliates include the nonfinancial companies and divisions of the Nordstrom family of companies (Nordstrom, Nordstrom Rack, Nordstrom Direct and HauteLook, Inc.). Nordstrom Inc. also provides technology services and other services to Nordstrom Bank to assist us in serving our customers.
Nonaffiliates

Companies not related by common ownership or control. They can be financial and nonfinancial companies.

  • Nordstrom Bank does not share with nonaffiliates so they can market to you.

Joint marketing

A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

  • Nordstrom Bank does not jointly market.
Other important information

For accounts with California billing addresses: We will limit the sharing of personal information about you with our affiliates to comply with all California laws that apply to us.

For accounts with Vermont billing addresses: Vermont law prohibits the sharing of certain information about Vermont residents with our affiliates unless we are given written permission to share that information. If you wish to authorize us to share your information with our Nordstrom affiliate, please contact us at the number provided on page one of this notice and we will send you an authorization form.