250-251 / 463
x
PENNEYS CHARGE ACCOUNT AGREEMENT
I will pay the "time sale price" of each item charged to my account. The "time sale price" consists of
the cash sale price of the item !stated price plus shipping charge and sales tax, if any) plus monthly
FINANCE CHARGES.
The
FINANCE CHARGE
is the greater of !al a minimum charge of
50~
or !bl an
amount computed at Periodic Rates of
1112
%
of the Adjusted Balance up to
$500.
and
1
%
over
$500.
"Adjusted Balance" means the balance at the beginning of each billing period !Previous Balance) less any
payments and credits received during that billing period. There is no
FINANCE CHARGE
on Adjusted
Balances under
$5.
The monthly Periodic Rates of
1
V2%
and
1%
amount to the
ANNUAL PERCENTAGE
RATES
of
18%
and
12%
respectively.
If I pay the cash sale price before my second monthly billing date following purchase, I will pay no
FINANCE
CHARGE
on that purchase.
After each monthly billing date and before the next one, I will pay an amount in accord with your minimum pay–
ment schedule in effect at that time--0r I may make a larger payment if I wish. The present schedule is as follows:
Minimum Payment Schedule
Unpaid
I
$.01
$11
$151
$201
$251
$301
$351
$401
$451
Over
Balance
-$11 -151
-201
-251
-301
-351
-401
-451
-501
$501
Monthly
I
Bal-
1/10 of
Payment
ance $10
$15
$20
$25
$30
$35
$40
$45
Balance
You will keep nie informed of any changes in your minimum payment schedule. Payments are applied to the time
sale prices of my purchases in order of purchase. I may pay my entire balance at any time.
If I default, you may declare my entire balance to be payable. If this agreement is referred to an outside attorney
for collection, I will pay your attorney's reasonable fees, plus court costs, to the extent permitted by law. You
will not have any security interest in any of my property because of my purchases from you.
You may limit or terminate my account. Upon request I will return my charge account card, which remains your
property.
NOTICE TO THE BUYER: Do not sign this agreement before you read it or if it contains blank
spaces. You are entitled to an exact copy of the agreement you sign. Keep this agreement
to protect your legal rights. You may at any time pay off the full unpaid balance under this
charge agreement.
RECEIPT OF COPY IS ACKNOWLEDGED.
;;>
~
;
Buyer's Signature__________ _______________
'S
N
:e;
Addres
Date.______
m
.
.
x
PENNEYS CHARGE ACCOUNT AGREEMENT
I will pay the "time sale price" of each item charged to my account. The "time sale price" consists of
the cash sale price of the item (stated price plus shipping charge and sales tax, if any) plus monthly
FINANCE CHARGES.
The
FINANCE CHARGE
is the greater of !al a minimum charge of
50~
or !bl an
amount computed at Periodic Rates of
1
V
2
%
of the Adjusted Balance up to
$500.
and
1
%
over
$500.
"Adjusted Balance" means the balance at the beginning of each billing period !Previous Balance) less any
payments and credits received during that billing period. There is no
FINANCE CHARGE
on Adjusted
Balances under
$5.
The monthly Periodic Rates of
1
V2%
and
1
%
amount to the
ANNUAL PERCENTAGE
RATES
of
18%
and
12%
respectively.
If I pay the cash sale price before my second monthly billing date following purchase, I will pay no
FINANCE
CHARGE
on that purchase.
After each monthly billing date and before the next one, I will pay an amount in accord with your minimum pay–
ment schedule in effect at that time--0r I may make a larger payment if I wish. The present schedule is as follows :
Minimum Payment Schedule
Unpaid
$.01
$11
$151
$201
$251
$301
$351
$401
$451
I
Over ·
Balance
-$11 -151
-201
-251
-301
-351
-401
-451
-501
$501
--
--------
--
-1
Monthly
Bal-
1/10 of
Payment
ance $10
$15
$20
$25
$30
$35
$40
$45
Balance
You will keep me informed of any changes in your minimum payment schedule. Payments are applied·to the time
sale prices of my purchases in order of purchase. I may pay my entire balance at any time.
If I default, you may declare my entire balance to be payable. If this agreement is referred to an outside attorney
for collection, I will pay your attorney's reasonable fees, plus court costs, to the extent permitted by law. You
will not have any security interest in any of my property because of my purchases from you.
You may limit or terminate my account. Upon request I will return my charge account card, which remains your
property.
NOTICE TO THE BUYER: Do not sign this agreement before you read it or if it contains blank
spaces. You are entitled to an exact copy of the agreement you sign. Keep this agreement
to protect your legal rights. You may at any time pay off the full unpaid balance under this
charge agreement.
RECEIPT OF COPY IS ACKNOWLEDGED.
Buyer's Signature.___________________________
Addres
Oat. .,______
m