Credit cards subject to credit approval.
(1) Based on U.S. Bank, N.A. prime rate.
(2) If your minimum monthly payment is not received and your account becomes past due (30 days late) 2 times within a 12-month period, all rates will be
increased to the Penalty APR. All rate changes effective as of your last statement closing date.
(3) WHEN INTEREST RATES BEGIN TO ACCRUE. All cash advances are subject to a FINANCE CHARGE from the date of the cash advance. The annual
percentage rate (APR) may vary on your account. The rate is determined by adding a margin to the U.S. Prime Rate. The annual percentage rate may
vary monthly. Merchants Bank reserves the right to change the APRs in accordance with the Bank Credit Card Agreement and the laws of the State of
Minnesota and the Federal Truth in Lending Act.
(4) Purchases are subject to a finance charge from the date they are posted to the account; however, no interest is imposed on purchases if the account
balance is paid in full within 25 days after the statement closing date. If you elect not to pay the entire new balance shown on your previous monthly
statement within that 25-day grace period, a finance charge will be imposed on the unpaid average daily balance of such Credit Purchases from the previous
statement closing date and on new Credit Purchases from the date of posting to your account during the current billing cycle, and will continue to
accrue until the closing date of the billing cycle preceding the date on which the entire new balance is paid in full or until the date of payment if more
than 25 days from the closing date. The finance charge for a billing cycle is computed by applying the monthly periodic rate to the average daily balance
of Credit Purchases, which is determined by dividing the sum of the daily balances during the billing cycle by the number of days in the cycle. Each daily
balance of Credit Purchases is determined by adding to the outstanding unpaid balance of Credit Purchases at the beginning of the billing cycle any new
Credit Purchases posted to your account, and subtracting any payments as received or credits as posted to your account, but excluding any unpaid finance