The above information was accurate as of August 16, 2006, but is subject to change after that date. To find out what may have changed, write to us at John Deere Credit, P.O. Box 5327, Madison, Wisconsin 53705-0327; or call Customer Service at 1-800-541-2969.
To avoid additional Finance Charges on Regular Purchases you must pay the Regular Purchase New Balance in full on or before the Payment Due Date listed on your statement.
*The rates applicable to purchases over $1,500 will be calculated using variable rates that will be determined by reference to a "Base Rate" to which is added a "Spread" to arrive at the current rate. The Base Rate from which your variable rates will be determined is the annual percentage rate of interest announced publicly from time to time by Citibank, N.A. in New York, New York as the base rate it uses for interest rate determinations, which was in effect at the close of business on the fifteenth (15th) calendar day of each month, or the next succeeding business day if the fifteenth is not a business day ("Reference Day"). Subject to any applicable rate restriction under Governing Law, the Spreads added to the Base Rate to determine the ANNUAL PERCENTAGE RATES (APRs) that will apply to your Purchase balances will be 6.90% if the amount of the purchase being financed is over $1,500 and less than or equal to $5,000, or 5.40% if that amount is over $5,000.
Rate increases and decreases, that result from changes in the Base Rate will take effect on the first day of your first billing cycle commencing after the Reference Day on which Base changes.
Changes in your variable rates will apply to your existing Account Balances as well as to future purchases. An increase in your rate will increase the total Finance Charge accruing on your Account and the balance on which your Minimum Required Payment is calculated. For example, if the Base Rate (and thus the applicable variable rate) were to increase by 5%, and the average daily balance to which the new rate applied was $1,000, your FINANCE CHARGE for that month would increase by $4.17 as a result of the increase in the variable rate.
For purchases over $1,500, Finance Charges accrue from the date of your purchase, and there is no free period.
Finance Charge Calculation. The amount of Finance Charge is determined in the following manner. We use the daily periodic rates and corresponding APRs shown in this Agreement. The applicable periodic rate is applied to the "Average Daily Balance" of your corresponding purchases, including current transactions, during the current billing cycle.
To get the "Average Daily Balance", we take the beginning balance of those purchases each day, starting with any Previous Balance outstanding on the first day of the monthly billing cycle, add new purchases and debits (other than late payment fees), and subtract payments or credits. This determines the daily balance. Unless we elect to use a later date, purchases are added to the daily balance as of the date of purchase.
We total the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the "Average Daily Balance" which is shown on your monthly statement.
DEFAULT FINANCE CHARGE RATE. If you are in default, you may no longer qualify for any reduced interest rate special promotions and, at our option, the APR applicable to the entire remaining balance of any outstanding reduced interest rate special promotion(s), may be increased to the Regular Purchase Rate described in this agreement.
A
MINIMUM FINANCE CHARGE of 50 cents will be made when the result of the application of the periodic rate(s) to the "Average Daily Balance" is less than 50 cents.
Minimum Required Payment. You agree to pay each month a Minimum Required Payment equal to:
- Any late payment fee due; plus
- Any additional fees; plus
- Any amount past due; plus
- For purchases:
(a) Either the greater of: (i) $25 or (ii) 2.00% of your highest balance, if your New Balance exceeds $25;
(b) Or your entire New Balance, if it is $25 or less.
Special Promotions. From time to time special financing terms, such as extended free periods, incentive interest rates on certain purchases or other promotions may be available. This may be limited to certain purchases from participating retailers. These special terms will be disclosed by the retailer at the time of purchase or on the next monthly statement sent to you and will govern the APR and repayment terms. Purchases you make during these special promotions will be separately identified on your monthly statement and will become part of the balance on which your FINANCE CHARGE and Minimum Required Payment are calculated at the time provided in the special terms disclosure. Final payment due for these transactions may be slightly larger.
Any introductory low rate may be followed by a higher rate, which may be as high as 19.8% APR.
Same as Cash Transactions. Unless otherwise disclosed, minimum monthly payments will be deferred and Finance Charge will accrue from the transaction date during the Same As Cash period described on your monthly statement at the Regular Purchase Rates as explained in the Regular Purchase Rates section of this Agreement. No Finance Charge will be due until the end of the Same As Cash period and any accrued Finance Charge will be waived if the entire Same As Cash balance is paid in full by the end of this Same As Cash period.
If the Same As Cash transaction balance is not paid in full during the introductory Same As Cash period, finance charge will accrue from the transaction date at 19.8% APR.
No Interest/No Payment Transactions. Unless otherwise disclosed, minimum monthly payments will be deferred and Finance Charge will not accrue during any no interest/no payment period described on your monthly statement. No Finance Charge will be due until the end of the no interest/no payment period.
If the no interest/no payment transaction is not paid in full during the introductory no interest/no payment period, finance charge will accrue at 19.8% APR if the transaction was $1,500 or less and at the Other Purchase rate if the transaction was over $1,500 will be followed by a higher rate, which may be as high as 19.8% APR.
Other Fees & Charges. We will add to your Account: (1) A Late Payment Fee of $20 if we do not receive a payment of at least the current portion of your Minimum Required Payment (Minimum Required Payment plus unpaid late payment fees and past due amounts) within 10 days after the Payment Due Date; (2) A Returned Payment Fee of $20, for any check we receive which is dishonored; and (3) attorney fees plus court costs and related fees, including any bankruptcy fees and costs, if we refer your Account for collection to an attorney. Any credit balance in excess of $1 on your account will be refunded within 7 business days from our receipt of your written request. Otherwise, we will refund to you any credit balance remaining on your account after six months. We will retain any credit balance if it is less than $1 or if we do not know your address and it cannot be traced through the last address or telephone number provided us. SERVICE CHARGES: We will add to your Account a reasonable charge for photocopies and reprints of Account and transaction documents which you may request and for other special services as allowed by law. We may assess a charge not to exceed $20 per hour, or for any portion thereof, for research performed on your account per your request, whether performed by us or our service provider. Any such charges will be subject to a Finance Charge in the same manner as purchases are treated.
Accepting Payment. We can accept late or partial payments, as well as payments marked "paid in full" or with other restrictive endorsements, without losing any of our rights under this Agreement.
Credit Reports. We may report your performance under this Agreement to credit reporting agencies and others who request a credit reference from us. We may ask credit reporting agencies or others you list as a credit reference for consumer reports or information regarding your credit history at any time for all legitimate purposes, including credit decisions and the review and collection of your Account. If you request, you will be provided with the name and address of any credit reporting agency that provided a report in connection with this application. As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. You also authorize us to disclose financial information about you as described in this Agreement and future notices we may send you.
Cancellation. You may close your Account to future purchases at any time by notifying us in writing and returning all Cards.We may close or suspend your Account to future purchases at any time without prior notice. Regardless of the expiration, closing or suspension of your Account, you remain responsible for paying the amount you owe us according to the terms of this Agreement.
SECURITY INTEREST. Except for residents of NC resident purchases with an
ANNUAL PERCENTAGE RATE exceeding 15%, you grant us a purchase money security interest in all merchandise purchased through your Account, and its proceeds, including insurance proceeds. Our security interest continues until such merchandise is paid for in full by application of your payments in the manner described in this Agreement. You agree to execute and authorize us to file (or to sign for you and file) any financing statement(s) or other document(s) needed to perfect the security interest that you have given us or that we may deem necessary before your debt is paid in full.
Property Insurance. While our security interest in the merchandise continues, you must maintain all-risk physical damage insurance on each merchandise item of which $5,000 or more is financed through your Account. You may obtain such coverage from any source, and it is not available from or through us. You will name FPC Financial, f.s.b. as a loss payee of the insurance, entitled at least 10 days advance notice of its cancellation, and at our request you will provide evidence thereof. You assign and direct the insurer to pay us the proceeds of such insurance. You authorize us to make and settle claims, and to endorse in your name(s) and apply, any instrument for such proceeds to the unpaid purchase price of the item or, at our option, to its restoration, returning any excess to you.
Payment Application. Payments will be applied as we determine in our sole discretion. You agree that we have this discretion and that we may exercise it to suit our own convenience and interests, without further notice to you. You also agree that we may change how we apply payments at any time without notice to you. The exercise of that discretion may result in cases in which the application of payments to your account creates higher Finance Charges then other payment application methods. This may include payments allocated to balances with lower APR's before balances with higher APRs and/or to balances with longer promotional periods before balances with shorter or no promotional periods.
Payment will be credited as of the date of receipt at the address on the payment stub of your Statement if received by 11:00 a.m. Central Time Monday through Friday (otherwise next business day); but if payment is not accompanied by the payment stub or not received at that location, credit may be delayed up to five days.
Retailer Chargebacks. We may charge back to a retailer who sold goods or services to you on your Account, any part of your Account balance related to those purchases. In such an event, this Agreement will be deemed assigned to the retailer to the extent of the chargeback. You agree to such an assignment and further agree to pay the retailer the amount of such chargeback in accordance with the terms of this Agreement.
Default. You will be in default if: (a) you fail to pay the Minimum Required Payment within 10 days after the Payment Due Date on two occasions within any 12-month period; (b) the value of our security interest in any collateral is materially impaired; (c) your ability to repay is materially reduced by your exceeding your credit limit, by a change in your employment, by a change in your obligations, by bankruptcy or insolvency proceedings involving you, or (for community property state residents only) by a change in your marital status or domicile; (d) if you die or are declared incompetent; (e) you provided us false or misleading information relating to your credit application or Account; (f) any purchase or transaction on your Account is not for a personal, family or household purpose; (g) you fail to perform any other of your obligations under the terms of this Agreement as it may be amended; or (h) you are in default under any other agreement you have with us or any of our affiliates.
Upon your default, we may close your Account to future purchases and, to the extent not prohibited by Governing Law, demand immediate payment of your entire Account balance, after giving you any notice and opportunity to cure the default required by applicable law. In addition, we shall have all the rights of a secured creditor under the Uniform Commercial Code and other applicable law.
ELECTRONIC DISCLOSURE. You agree that any notices and disclosures related to your account can be delivered to you in printed form or by electronic means if you provided an electronic mail address to us when you applied for this account or at a later date. Until we receive notice of a new electronic mail address, we may continue to send such notices and disclosures to the electronic mail address you most recently provided to us.
ERRORS IN CREDIT BUREAU INFORMATION. If you believe we have reported inaccurate information about you to a credit bureau, please contact us at John Deere Credit, P.O. Box 5327, Madison, Wisconsin 53705-0327, and identify the inaccurate information and tell us why you believe it is incorrect.
Delay in Enforcement. We can delay enforcing our rights under this Agreement without losing them.
OTHER SERVICES. Third parties may offer additional features, services and enhancements related to the Account. You acknowledge that we are not liable for those and that they are the sole responsibility of those third parties. If you receive insurance services, you understand that you will receive all the information on those services from the insurer. That insurance may be cancelled if you are in default under this Agreement.
Governing Law. This Agreement must be approved, and all charges and payments to your Account processed by us at our office in Madison, Wisconsin. Therefore this Agreement and your Account will be governed by the substantive law of the United States and to the extent state law applies to this Agreement, the substantive law of the State of Wisconsin; regardless of whether or not you reside in Wisconsin. The law of your state of residence will apply to our recovery of any collateral located there. This is the entire Agreement between you and us and no oral changes can be made.
Invalidity of any provision of this Agreement shall not affect the validity and enforceability of the remainder of its terms.
Changing This Agreement. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. We may change this Agreement, including the Annual Percentage Rate and the Finance Charge Calculation, at any time. If we do, we will provide you prior written notice. To the extent that the law permits and we indicate in our notice, the changes will apply to your existing Account balance as well as to future transactions.
ARBITRATION OF DISPUTES. In the event of any past, present or future claim or dispute between you and us arising from or relating to your Account, any prior account you have had with us, your application, the relationships which result from your Account or the enforceability or scope of this arbitration provision, of the Agreement or of any prior agreement, you or we may elect to resolve the claim or dispute by binding arbitration.
This includes any such claim or dispute, whether based upon contract, property, tort, statute, common law or equity, other than a claim relating to our right to repossess the merchandise purchased through your account by self-help, if permitted, or by judicial process. The parties agree and understand that the arbitration shall have all powers provided by law and the Contract. These powers shall include all legal and equitable remedies including, but not limited to money damages, declaratory relief, and injunctive relief.
The parties agree and understand that they choose arbitration instead of litigation to resolve disputes. The parties understand that they have the right or opportunity to litigate disputes in court, but that they prefer to resolve their disputes through arbitration, except as provided herein.
IF EITHER YOU OR WE ELECT ARBITRATION, NEITHER YOU NOR WE SHALL HAVE THE RIGHT TO LITIGATE THAT CLAIM IN COURT OR TO HAVE A JURY TRIAL ON THAT CLAIM. PRE-HEARING DISCOVERY RIGHTS AND POST-HEARING APPEAL RIGHTS WILL BE LIMITED. THE PARTIES VOLUNTARILY AND KNOWINGLY WAIVE ANY RIGHT THEY HAVE TO A JURY TRIAL, EITHER PURSUANT TO ARBITRATION UNDER THIS CLAUSE OR PURSUANT TO A COURT ACTION.
NEITHER YOU NOR WE SHALL BE ENTITLED TO JOIN OR CONSOLIDATE CLAIMS IN ARBITRATION BY OR AGAINST OTHER CUSTOMERS WITH RESPECT TO OTHER ACCOUNTS, OR ARBITRATE ANY CLAIMS AS A REPRESENTATIVE OR MEMBER OF A CLASS OR IN A PRIVATE ATTORNEY GENERAL CAPACITY.
Even if all parties have opted to litigate a claim in court, you or we may elect arbitration with respect to any claim made by a new party or any new claims later asserted in that lawsuit, and nothing undertaken therein shall constitute a waiver of any rights under this arbitration provision. Arbitration may be elected at any time , regardless of whether a lawsuit has been filed, unless the lawsuit involving that claim or dispute has resulted in a final judgment. We will not invoke our right to arbitrate an individual claim you bring in small claims court or your state's equivalent court, if any, so long as the claim is pending only in that court and does not exceed $5,000.
Your Account involves interstate commerce, and this provision shall be governed by the Federal Arbitration Act (FAA). The arbitration shall be conducted by National Arbitration Forum (NAF) or American Arbitration Association (AAA), at the option of the party electing arbitration, in accordance with their procedures in effect when the claim is filed. As of January 1, 2005, for a copy of their procedures, to file a claim or for other information, contact AAA's customer service att 1-800-778-7879 or visit their website at www.adr.org or contact NAF at 1-800-474-2371 or by visiting their website at www.arb-forum.com. All claims may be filed at any NAF or AAA office. At your written request, we will advance any arbitration filing, administrative and hearing fees which you would be required to pay to pursue a claim or dispute as a result of our electing to arbitrate that claim or dispute. The arbitrator will decide who will ultimately be responsible for paying those fees. In no event will you be required to reimburse us for any arbitration filing, administrative, or hearing fees in an amount greater than what your and our combined court cost would have been if the claim had been resolved in a state court with jurisdiction.
Any arbitration hearing will take place in the federal judicial district where you reside. The arbitrator shall follow applicable substantive law to the extent consistent with the FAA and applicable statutes of limitations and shall honor claims of privilege recognized at law. If requested by any party, the arbitrator shall write an opinion containing the reasons for the award. The arbitrator's decision will be final and binding except for any appeal rights under the FAA and except that if the amount in controversy exceeds $100,000, any party may appeal the award within 30 days to a three-arbitrator panel which shall review the award de novo. The costs of such an appeal shall be borne by the appealing party regardless of outcome. Judgment upon any award by the arbitrator may be enforced in any court having jurisdiction.
Our rights and obligations under this arbitration provision shall inure to the benefit of and be binding upon our parent corporations, subsidiaries, affiliates, predecessors, successors, assigns, as well as the officers, directors and employees of each of these entities, and will also inure to the benefit of any third party named as a co-defendant with us or with any of the foregoing in a claim which is subject to this arbitration provision. Your rights and obligations under this arbitration provision shall inure to the benefit of and be binding upon all persons contractually liable under this Agreement and all Authorized Users of the Account. This arbitration shall survive termination of your Account as well as voluntary payment in full by you, and legal proceedings by us to collect a debt owed by you, any bankruptcy by you and any sale by us of your Account.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Notice of Privacy of Consumer Financial Information for Revolving and Installment Accounts
We collect nonpublic personal information about you from the following sources:
- Information we receive from you on applications or other forms;
- Information about your transactions with us, our affiliates, or others; and
- Information we receive from a consumer reporting agency.
We may disclose all of the information that we collect, as described above.
We may disclose nonpublic personal information about you to the types of third parties:
- Financial service providers, such as mortgage bankers, securities broker-dealers, insurance companies and agents
- Non-financial companies, such as retailers, direct marketers, airlines and publishers.
- Others, such as non-profit organizations
We may also disclose nonpublic personal information about you to nonaffiliated third parties as permitted by law.
We may disclose nonpublic personal information about former customers to the types of third parties listed above.
We may also disclose nonpublic personal information about former customers to nonaffiliated third parties as permitted by law.
We may also disclose any nonpublic personal information about you and former customers to affiliated third parties as permitted by law.
We may disclose all of the information we collect, as described above, to companies that perform account servicing on our behalf with whom we have account servicing agreements.
We may disclose all of the information we collect, as described above, to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements.
If you prefer that we not disclose nonpublic personal information about you to nonaffiliated third parties, you may opt out of those disclosures, that is, you may direct us not to make those disclosures, other than disclosures permitted by law. If you wish to opt out of disclosures to nonaffiliated third parties, you may notify us by calling John Deere Credit Customer Service at 1-800-541-2969, and providing your name, Social Security number, address and account number, and certain nonpublic personal information will not then be provided to those nonaffiliated third parties. You may have other rights under state law that applies.
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products and services to you, except as described above. We maintain physical, electronic, and procedural safeguards that comply with Federal standards to guard your nonpublic personal information.
We disclose Nonpublic Personal Information to other nonaffiliated parties as permitted by law.
Notice of Your Opportunity to Opt Out of Information Sharing With Companies in Our Corporate Family.
Information We Can Share With Our Corporate Family About You - Unless You Tell Us Not To.
What Information: Unless you tell us not to, FPC Financial, f.s.b. may share with companies in our corporate family information about you, including:
- Information we obtain from your application, such as your income;
- Information we obtain from a consumer report, such as your credit score and credit history;
- Information we obtain to verify representations made by you, such as your open lines of credit;
- Information we obtain from a person regarding its employment, credit or other relationship with you, such as your payment history.
Shared With Whom: Companies in our corporate family who may receive this information are:
- Financial service providers, such as loan, sales finance, and leasing companies;
- Non-financial companies, such as manufacturers.
How To Tell Us Not To Share This Information With Our Corporate Family.
If you prefer that we not share this information with companies in our corporate family, you may direct us not to share this information by doing the following calling us toll free at 1-800-541-2969 and providing your name, Social Security number, address and account number.
Note: Your direction in this paragraph covers certain information about you that we might otherwise share with our corporate family. We may share other information about you with our corporate family as permitted by law.
Please Also Read the Following Information
The links below will give you information you need to read before applying for Credit with Kirk Equipment Company and John Deere:
Kirk Convenience and Customer Care
At Kirk Equipment Company, we are committed to helping you obtain a new John Deere lawn tractor or any of our other John Deere Consumer Products. For your convenience, we offer an
Online Credit Application to save our customers valuable time and expedite the entire financing process. For immediate attention please
contact us or call today at 870-236-5475.
