ACCOUNT-OPENING DISCLOSURES

IMPORTANT CREDIT DISCLOSURES FOR SIMPLIO LABS CREDIT PROGRAM

You are applying for the Simplio Labs Revolving Credit Account. You will be notified if you were approved/disapproved for this account. Below are important disclosures about the interest rates, fees, and other terms of this credit program.

Summary of the Simplio Labs Revolving Credit Account Terms:

Simplio Labs Credit Account Key Credit Terms
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases 17.99% This APR is a non-variable rate.
How to Avoid Paying Interest Your due date is at least 24 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month.
Minimum Interest Charge If you are charged interest, the charge will be no less than $1.00.
For Credit Card Tips from the Consumer Financial Protection Bureau To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore/
Fees
Penalty Fees Late Payment:

Up to $30.00

Returned Payment:

Up to $40.00

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).” See below for more details.

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided below.

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Summary Disclosures Only: This document contains important disclosures about the Simplio Labs Revolving Credit Account (” Revolving Credit Account“). Please read these Disclosures and that Agreement carefully, and keep them for your records. The Credit Account Agreement will explain how the Agreement may be changed.

How We Figure Interest Charges: To calculate the Interest Charge for each monthly statement we multiply the average daily balance times the monthly periodic rate. Your monthly periodic rate may vary each billing cycle. If the total periodic Interest Charges for a month are less than $1.00 then we charge a minimum periodic Interest Charge of $1.00 which we will apply to the applicable balance (to the extent permitted by applicable law).

Average Daily Balance: We figure the interest charge on your Account by applying the monthly periodic rate to the “average daily balance” of your Account, including current transactions. To get the “average daily balance,” we take the beginning balance of your Account each day, add any new purchases, charges and other fees, and subtract any payments or credits. This gives us the daily balance. Then we add up all the daily balances for that billing cycle and divide the total by the number of days in the billing cycle. This gives us the “average daily balance.”

Non-Variable APR. Your Annual Percentage Rate is 17.99%, which corresponds to a monthly periodic rate of 1.3900%. This is a non-variable rate. The finance charges that are assessed, including the monthly periodic rate, will be in amounts or at rates that do not exceed those permitted by law. The amount of periodic interest charges and APRs are subject to change. See below under the heading “Change of Terms (including Interest Charges).”

When Interest Charges Begin to Accrue: Interest charges begin to accrue on each purchase on the date of the purchase. However, if you paid the new balance on your previous Statement by the payment due date shown on the Statement, then: (1) if you pay the new balance on your current Statement by the payment due date shown, we impose no interest charges on purchases during the current billing cycle, and (2) if you make a payment by the payment due date shown on your current Statement that is less than the new balance, we will credit that payment as of the first day in your current billing cycle. In addition, if your Statement reflected a new balance and you did not pay that new balance in full by the payment date on that previous Statement, then we will not impose interest charges on any purchases during the current billing cycle if you pay the balance shown on your current Statement by the payment due date reflected on that current Statement.

Deferral Periods:Simplio Labs may specify a period during which no payments are required for your purchase. We call these “Deferral Periods.”

YOUR BILLING RIGHTS: KEEP THIS DOCUMENT FOR FUTURE USE This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.

WHAT TO DO IF YOU THINK YOU FIND A MISTAKE ON YOUR STATEMENT If you think there is an error on your statement, write us at: Simplio Labs Account Services, 2001 Tyler St #215, Hollywood, FL 33020. In your letter, give us the following information

  • Account Information: Your name and Simplio Labs Revolving Credit Account number.
  • Dollar Amount: The dollar amount of the suspected error.
  • Description of Problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us within 60 days after the error appeared on your statement. You must notify us of any potential errors in writing. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.

WHAT WILL HAPPEN AFTER WE RECEIVE YOUR LETTER When we receive your letter, we must do two things:

  1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
  2. Within 90 days of receiving your letter, we must either correct the error or explain why we believe the statement was correct.

While we investigate whether or not there has been an error:

  • We cannot try to collect the amount in question, or report you as delinquent.
  • The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
  • While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
  • We can apply any unpaid amount against your credit limit.

After we finish our investigation, one of two things will happen:

  • If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
  • If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees.

We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe. If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us. If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.

YOUR RIGHTS IF YOU ARE DISSATISFIED WITH YOUR CHARGE CARD PURCHASES If you are dissatisfied with the goods or services that you have purchased with your charge card and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase. To use this right, all of the following must be true:

  1. The purchase must have been made in your home State or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these are necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
  2. You must have used your credit card for the purchase.
  3. You must have not yet fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at:
Simplio Labs
Account Services, 2001 Tyler St #215, Hollywood, FL 33020.
While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay we may report you as delinquent.

Protections Under the Military Lending Act: Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent (a “Covered Borrower”) may not exceed an annual percentage rate of 36 percent. We do not charge application or participation fees.

You are a Covered Borrower if at the time of establishing this account you are an active duty service member or an active Guard or Reserve duty member, or you are a qualifying dependent of that member.

If you are a Covered Borrower, the provisions of this Simplio Labs Credit Account relating to arbitration do not apply to this Simplio Labs Credit Account involving consumer credit.

Oral Disclosure: If you are a Covered Borrower, you may obtain information about the account, including information about the payment obligation, by calling us toll-free, at 888-766-3315.

See below for additional disclosures, under “Additional Important Disclosures for All Credit Programs.”

Terms that apply to the Simplio Labs Revolving Credit Account

Important Information About Procedures For Opening A New Account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you obtain a Simplio Labs Revolving Credit Account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for your driver’s license number or other identifying information.

Arbitration: Your credit agreement will contain a binding arbitration provision. In the event of any dispute relating to your agreement, the dispute will be resolved by binding arbitration pursuant to the rules of the American Arbitration Association. Both you and we agree to waive the right to go to court or to have the dispute heard by a jury. You and we will be waiving any right to a jury trial and you will not have the right to participate as part of a class of claimants relating to any dispute with us. Other rights available to you in court may also be unavailable in arbitration. When you receive your agreement, you should read the arbitration provision in the agreement carefully.

Updated Financial and other Information: Upon request, you agree to promptly give us accurate financial and other information about yourself.

Credit Bureau Dispute:In the future event that your information is reported to the credit bureaus and you believe we inaccurately reported credit history information about you or your credit agreement to a credit reporting agency, write to us at: Simplio Labs Bureau Reporting Services, 2001 Tyler St #215, Hollywood, FL 33020. Please provide the accountnumber along with a copy of your credit bureau report reflecting the information that you believe is inaccurate.

Consent for Use of Telephone Numbers: You authorize Simplio labs, their affiliates, agents, and others calling at their request or on their behalf to contact you at any number (i) you have provided to us (ii) from which you have called us, or (iii) which we obtain and believe we can reach you at. We may contact you in any way, such as calling, texting, using an automated dialer or using pre-recorded messages. We may contact you on a mobile, wireless, or similar device, even if you are charged for it by your provider.

All Accounts, including California and Utah Residents: As required by applicable law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

All Accounts, including New York/Rhode Island/Vermont Residents: You agree to give Simplio Labs (1-888-766-3315) (as well as its agents, successors, and assigns) permission to access your credit report in connection with any transaction, or extension of credit, and on an ongoing basis, for the purpose of reviewing your Account, adjusting the credit limit on your Account, taking collection action on your Account, or for any other legitimate purposes associated with your Account. Alimony, child support or separate maintenance payments need not be revealed if you do not want us to consider it in determining your creditworthiness. Upon your request, you will be informed of whether or not a consumer credit report was ordered, and if it was, you will be given the name and address of the consumer reporting agency that furnished the report.

Connecticut Residents: Damages may be imposed if a check is dishonored. Connecticut General Statutes §52-565a authorizes our collection of damages for dishonored checks; criminal penalties may also apply.

Maryland Residents: Maryland law requires that if you send us a written request about the status of your Account and we do not answer that request within 60 days after we receive it, you are not required to pay a finance charge for that 60 day period or until we answer.

Missouri Residents: If you prepay your Account in full, you may be entitled to a refund of certain interest under Mo. Rev. Stat. §408.170.

New Hampshire Residents: Reasonable attorney’s fees will be awarded to you if you prevail in (a) any action, suit or proceeding brought by us, or (b) any action brought by you. If you successfully assert a partial defense or set-off, recoupment or counterclaim to an action brought by us, the court may withhold from us the entire amount or such portion of the attorney fees as the court considers equitable.

New York Residents: New York residents may contact the New York state department of financial services by telephone or visit its website for free information on comparative credit card rates, fees and grace periods. The New York state department of financial services’ telephone number is 1-800-342-3736, and its website is http://www.dfs.ny.gov.

Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

Married Wisconsin Residents: No provision of any marital property agreement, any unilateral statement, or court decree under Wisconsin’s Marital Property Act adversely affects the interest of a creditor unless, prior to the time credit is granted, the creditor is furnished a copy of that agreement, statement or decree or has actual knowledge of the adverse provision when the obligation to the creditor is incurred. We may require that you pay the entire amount that you have outstanding if you do not pay amounts that come due 2 times within 12 month period. You will also have to pay your entire amount outstanding if you fail to do anything required in this agreement and that failure makes it likely that you will not be able to pay your bills from us as they become due.

Texas Residents: To contact us about your Account call 1-888-766-3315. This contract is subject in whole or in part to Texas law which is enforced by the Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207. Phone (800) 538-1579; www.occc.texas.gov. Contact the Commissioner relative to any inquires or complaints.