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Use Your JCPenney Charge Card for
Regular Charge and Time Payment Purchases
Facts about Regular Charge
1. Everything we offer in our catalogs and our stores can
be bought on Regular Charge.
2. You don't have to worry about having cash on hand, writing
checks or money orders. No bother about figuring taxes, trans·
portation-and-handling charges-we do 11 for you. Any relund for a return
can be simply credited to your account.
3. Record keeping is simple! Our once-a-month statements are complete
permanent records of your purchase.
4.
Pay no finance charge 1f account balance is paid in full before
payment due date. Or stretch payments over several months.
See the Retail Installment Credit Agreement (Contract) below.
Facts about Time Payment
1. You get all the easy-to-use features, 2-4, listed at the left
under " Facts about the Regular Charge."
2. You don"t have to make a "down payment." And your first purchase
can be big or little, as long as it totals $19 or more.
3. You don't have to finish payments on your first purchase
before you buy again.
4. You can count on payments that stay the same each month
unless you add on purchases to a new " highest balance."
5. Payments can be stretched over a longer period of time
when you use Time Payment.
Catalog merchandise listed below may be purchased on Time Payment
Air cleaners
CB Transce1vers
Floor coverings
Luggage
Pumps
Swimming pools
&
equipment
Air cond1t10ners
Ceiling panels
&
tiles
(except bathroom rugs
&
Mattresses
&
box spnngs
Radios
Appliances. electric
Chandeliers
bathroom carpe ng)
Tape decks
Auto batteries
Clocks
Floor polishers
Mirror consoles
Range hoods
&
fans
Televisions
Automotive supplies
Cookware
Fur coats (over $200)
Mirrors
Ready-to-linish furniture
Telescopes
Furniture
Moblle
home
accessories
Rug shampooers
Tents
Bathroom fixtures
Dehumidifiers
Musical instruments
Rugs
Tires
Bedspreads
Diamonds
Garage doors
&
openers
Nursery equipment
Sailboats
Tools
&
equipment
Bicycles
Dinnerware
Guns
Screen houses
Trailer accessones
Blriocutars
Doors
Hair dryers. stylers
. Office equipment
Security devices
Traverse rods
Boats
Drapenes
&
drapery hardware
Health aids
&
accessories
Outboard motors
Sewing machines
Typewriters
Building supplies
Heaters
Paint supplies
Shelving
Vacuum cleaners
Electrical goods
Hospital supplies
Patio covers
Shutters
Venetian blinds
Calculators
Exercise equipment
Hunting equipment
Pet supplies
Slipcovers
Cameras
&
equipment
Kitchen cabinets
&
sinks
Phonographs
Smoke detectors
Wall coverings
Camping equipment
Farm equipment
Playground equipment
Sporting goods
Wall decor
Carports
Fencing
Lamps
Plumbtng-heallng supplies
Stereos
Watches
&
fine lewelry
Carnages
&
strollers
Fireplaces
&
equipment
Lawn
&
garden equipment
Pool tables
Slorage buildings
Welding equipment
Cassette recorders
Fla1Ware(sta1nless steel)
Lighting fixtures
Power tools
&
accessories
Slorm/Screen doors
Wheelchairs
How to Open Your
JCPenney Charge Account
Read the following Retail Installment Cred1I Agreement (Conlract) and sign 1t on page
369 Keep 1t for your records Also sign the Credit Application (at top, opposite page)
to verify both that you have read the Credit Agreement and lhal 1nformat1on furnished
on the Cred1I Apphca11on 1s accurale and correct lo your knowledge. Complete the
Cred1I Apphca11on (prinl. using ball point pen) and mail to your D1stnbuhon Center, c/o
New Accounts Dept. Find the applicable address for your location on page 364
Your JCPenney Retail Installment Credit Agreement (Contract)
In this agreement,
you
and
your
mean everyone who signs the agreement or
is bound by it.
We.
us,and
our
mean J.C. Penney Company, Inc.. 1301 Avenue
of the Americas. New York, NY 10019.
Promise to Pay
-
You must pay for all purchases you charge, and for all
purchases charged by anyone you allow to use your account.
Types of
Charges
-
There are two types of charges under a JCPenney
account: regular charges and time payment charges. Any merchandise or
service may
be
purchased from us and billed as a regular charge. Certain
types of merchandise identified in our stores and catalogs may be billed as
time payment charges.
Billing Statementa
-
If you have a balance on your account. we will
send you a monthly statement for your regular charges. your time payment
charges. or both. Your statement will show your balance. the minimum
payment due, and the date by which we must receive your payment.
Finance Charge - Finance charge
not in excess of that permitted
by law will be assessed on the outstanding balance(s) from month to month.
A
finance charge
1s the amount you pay us for allowing you to make
monthly installment payments for your purchases. You do not pay any
finance charge
if there is no previous
balance.orif credits and payments
made within 25 days of the current "Billing Date" equal or exceed the balance
at the beginning of the period.
The
finance charge
is based on your regular and time payment "average
daily balances" during the period. Here's how we find your average daily
balance:
(1)
We start with the balance you owe at the beginning of the period
(Previous Balance).We then subtract any insurance premiums due and
any unpaid
finance charge.
You do not pay
finance charge
on
these amounts.
(2) We then subtract any payments as of the day we received them. (These
payments first go to paying any insurance premiums due or any unpaid
finance charge.)
We subtract any credits as of the date they were
issued. We add new purchases as of the date they were made.
(If
you
live in Maine. Massachusetts. Minnesota. Mississippi, Nebraska. New
Mexico, Ohio, or Rhode Island. we do not add purchases made since
your last billing date.)
(3) We add all the daily balances for the billing period and divide the total by
the number of days in the period. The result is your Average Daily
Balance.
We then multiply your Average Daily Balance by the periodic rate(s). This is
your
finance charge.
If you have a regular charge balance and a time payment balance. we figure
the average daily balance for each.Then we combine them to determine your
finance charge.
If you live in a state which has two rates. the higher rate is
applied to your regular charge balance first. There is never a minimum
finance charge
if you have only a time payment balance. or if you have
both a time payment'balance and a regular charge balance for that month.
Continued on next page
. . .
JCPenney
367