In consideration for your allowing me to make purchasers from you on credit, I understand that I will be billed monthly for all purchases and I agree to pay you promptly at your offices in Austin, Travis County, Texas, according to the terms listed in either paragraph A or paragraph B below, whichever option I choose:
- I will pay in full the New Balance shown on each monthly statement on or prior to the next Billing Date indicated which will be approximately 30 days after the current Billing Date of the monthly statement. If I pay each monthly statement in full on or prior to the next Billing Date, I understand that I will not be charged a FINANCE CHARGE.
- If I do not pay the entire New Balance on or prior to the next Billing Date, I agree to pay at least 20% of the New Balance, and if I do this I understand that a FINANCE CHARGE (18% ANNUAL PERCENTAGE RATE) will be added to my account to the next monthly statement (without deducting subsequent payments or other credits or adding subsequent purchases).
In consideration of your agreement to extend credit to me, I also agree to the following:
- You may accelerate the maturity of any part or all of the amount I owe you if I am in default in the performance of any of my obligations in this agreement or if you, in good faith, believe that the prospect of my paying this account or performing under this agreement is impaired.
- If I fail to pay you promptly as I have agreed to do in this agreement, I agree to pay your reasonable attorney’s fees, court costs and deposition fees which you incur if you have to hire an attorney to collect the money I owe you or to pursue any other action for the enforcement of this agreement.
- I authorize you to check with any credit reporting agency or any of my references above as to my credit worthiness and to report to credit bureaus and other persons entitled to such information about what I have told you in this application and about my performance under this agreement.
- If any of the provisions of this agreement is declared invalid, that provision only shall be void, but the rest of this agreement shall remain valid.
- You may cancel my right to purchase on credit at any time without notice
- I agree to notify you promptly if I move or change jobs
Notices: Any holder of this consumer credit contract I subject to all claims and defenses which the debtor could assert against the seller of goods or services obtained pursuant hereto or with the proceeds hereof, recovery hereunder by the debtor shall not exceed amounts paid by the debtor hereunder.
Notice to the Applicant:
Do not sign this agreement before you have read everything above or if it contains any blank spaces
You are entitled to a completely filled-in copy of this agreement
You may at any time pay your total indebtedness under this agreement
Keep a copy of this agreement to protect your legal rights
Please see accompanying statement for important information regarding your rights to dispute billing errors
I hereby acknowledge that I have received a copy of this agreement, completely filled in, before it was signed by me and that a copy was delivered to me at the time I signed it.