1976 JCPenney Christmas Catalog

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JCPenney
Retail Installment
Credit Agreement
Your signature(s) (on next page) means that you agree to the
following terms of this JCPenney Credit Program. Upon approval
of your application, our Regular Charge and/or Time Payment
may be available to you. When you sign a sales slip authorizing
us to charge your purchase on Regular Charge or Time Payment,
that purchase will be governed by the applicable terms as set
forth below:
Regular Charge and Time Payment purchases will be billed
monthly on separate statements. When either statement shows
that a payment is required, you can choose to pay either the
" Minimum Amount Due" , your entire " New Balance" or any
amount in between, but you must do so before the "Next Billing
Date" shown on each statement.
REGULAR CHARGE PAYMENT SCHEDULE
The minimum payment you must make when purchasing on
Regular Charge varies with your balance, according to the
schedule directly below:
New Balance (less insurance premiums) Minimum Payment
$11.00 or less Balance
11.01- 200 .. . . . .. . . . .. . ........ . $10
200.0l- 2SO ........... . . . . .. . . . . . lS
2S0.01- 300 .. . . .. .. . .. . . . . . . . . . . . 20
300.0l-3SO........... . . . . .. . . . . . 25
400 ........... . . . . . . . . .. . 30
400.0l-4SO . . .. . .... . . . . . . . . . . . . . 3S
- 500 ....... . ... . . . . . . . . . . . 40
Over $SOO ........... 1/ 10 of Balance
The minimum monthly payment you must make when purchasing
Time Payment eligible merchandise is based upon the Highest
outstanding Time Payment Balance you have had; the "Amount
Due" remains the same until that balance is completely paid in
accordance with the schedule directly below.
Hi&hest
Balance
Minimum
Monthly Payment
$ 19.00-90.. . .. . .$5.00
90.01-105 ... .. .
lOS.01- 120...... 6.00
120.0l- 13S . . .. ..
135.01- lSO ... . .. 7.00
150.01- 165..... . 7.50
165.01- 180 . . .... 8.00
180.01-19S... . . .
195.01- 210. . . . . . 9.00
210.01- 225 ... . ..
225.01-240...... 10.00
240.0l-25S . . .... 10.50
2S5.01-270 ... . .. 11.00
270.01- 285......
Hi1hest
Balance
Minimum
Monthly Payment
$285.01-300 . ... .. $12.00
300.01-315 .. . . . .
315.01-330 . . .. .. 13.00
330.01- 345 . . .... 13.50
34S.01-360 ..... . 14.00
360.01- 375 ... ... 14.50
375.0l-40S... . . . 15.00
420 . . ... .
420.01-435 ... . . . 16.00
-4SO..... . 16.50
450.01-465 .. .. . . 17.00
465.01-495 ..... . 17.50
495.01- SlO. . . . . . 17.7S
510.01 - S25 ...... 18.25
The monthly payment of $18.25 is increased by $.50
for each additional $15.00 (or fraction thereof)
of Highest Balances over $S25
FINANCE CHARGE not in excess of that permitted by law will
be assessed on the outstanding balance(s) from month to month.
You can avoid FINANCE CHARGE if we receive your payment
· of the entire "New Balance" shown on each statement before
your " Next Billing Date." If you pay less than your "New Bal–
ance", we may assess FINANCE CHARGE for the billing period
computed by applying a monthly rate of 1.5% (ANNUAL PER·
CENTAGE RATE 18%) to your Average Daily Balance (subject
to a minimum monthly charge of 50¢ on Regular Charge only),
except that the following terms apply if you reside in one of the
states listed below ("Minimum Monthly Charge" column ap–
plies to Regular Charge only):
State of Monthly Annual Portion of Avera1e Minimum
Periodic Percentaa• Dailr Balance Monthly
Residence Rate Rates to Which Applied Char11
FL, (Time Payment)
1.53 183 entire NV, NC, none
ND, RI, VA
IA 1.53 183 $500 or less soc
1.253 153 over $500
AK, AZ, CA, l.S3 183 $1,000 or less 50c
DE, SC 1.03 123 over$1,000
-
FL, (Reg. Charge), 1.53 183 $500 or less soc NJ, NM, NY, KA,
1.03 123 over $500
OH, TX, WV, MA
MD, MS, NE, 1.53 183 $500 or less none
WI , DC 1.03 123 over$500
VT l.S3 183 $500 or less 25c
1.03 123 over$500
MO l.S3 183 $500 or less soc
.7S3 93 over $500
PA 1.253 153 entire soc
MN , WA 13 123 entire soc
CT, SD 13 123 entire none
AR .833 103 entire none
When more than one periodic rate is applicable in your state, the
FINANCE CHARGE assessed on your outstanding balance(s)
will be determined by combining your Regular Charge and Time
Payment balances before applying the periodic rates. The higher
periodic rate will be applied to your Regular Charge balance first.
The Average Daily Balance is determined by 1) starting with
any balance unpaid as of the beginning of the billing period;
2) subtracting any .insurance premium due, unpaid FINANCE
CHARGE and credits relating to purchases previously billed;
3) adjusting the remaining amount on a daily basis by subtracting
any payments received, after applying the payments first to any
insurance premium due and then to any unpaid FINANCE
CHARGE; 4) adding the daily balances for each day in the bill–
ing period and dividing their sum by the number of days in the
billing period. There is never a FINANCE CHARGE on any
unpaid FINANCE CHARGE or on a new purchase before it's
billed. Insurance premiums are billed with Regular Charge only.
If you fail to pay your obligation to us in accordance with this
Agreement (" default" as defined for Wisconsin residents in Sec–
tion 425.103 (2) (b) Wisc. Stat.), we have the right-subjectto any
right you have by law to correct your default-to ·declare the
Regular Charge and/or Time Payment balance(s) due. If any
balance is referred to an attorney for collection, you will pay, to
the extent permitted by law, that attorney's reasonable fees if the
attorney is not our salaried employee. (This provision for payment
of attorney's fees does not apply to residents of Alabama, Iowa,
Kansas, Maine, Nebraska, or Wisconsin.)
We have the right to limit this Credit Program and to withdraw
your credit privileges at any time without prior notice. Any charge
cards issued to you for use by you and your authorized buyer(s)
remain our property and must be surrendered at our request.
We may investigate your credit record and furnish information
concerning your.. credit file to consumer reporting agencies and
others who may properly receive that Information.
We waive any right to mechanics' or materialmen' s lien(s) on
real property used or to be used aii your principal residence.
The law of the state where you live governs this Agreement.
If you move, you will notify us. The terms appropriate in your
new state will apply only to the purchases you make after we
receive your notice. -
We can change these terms by <giving you advance notice of
the change. Any new terms will apply only to purchases you
make after the effective date of the change.
If you are applying for a Joint Account, both you and your spouse
agree to be bound by the terms of this Agreement, and each of
you agree to be jointly and severally liable for payment of all
purchases made under this Agreement.
If any of these terms is in conflict with applicable law, that term
shall be considered changed or omitted to conform with that
law while all other terms remain valid.
i:onUnwd on neJrt p..- JCP9llney 33S