IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the United States fight the funding of terrorism and money laundering activities, U.S. law requires U.S. Bancorp, like other financial institutions, to obtain, verify, and record information that identifies each customer that opens an account.

What this means for you: When you open an account with us, we will ask for your and/or your business's legal name, address, date of birth, tax identification number, and other identifying information that will assist us with identifying you and/or your business. We may also ask to see your photo identification (driver's license) or other identifying documents. For businesses, we may ask for copies of certified articles of incorporation, an unexpired government-issued business license, a partnership agreement, or other documents that indicate the existence and standing of the entity.

We may change APRs, fees, and other Account terms in the future based on your experience with U.S. Bank National Association and its affiliates as provided under the Cardmember Agreement and applicable law.

How We Apply Your Payments: When you make a payment, the amount up to your Minimum Payment is applied first to the monthly payment obligation for U.S. Bank ExtendPay® Plans and U.S. Bank ExtendPay® Loans if any, and then to non-Fixed Payment Program balances in the order of the lowest to highest APR. Any amount over your Minimum Payment is applied to non-Fixed Payment Program balances in the order of lowest to highest APR before applying to Fixed Payment Program balances.

Interest Rates and Interest Charges	SKYPASS Visa Signature® Business Card
Annual Percentage Rate (APR) for Purchases	23.24% to 29.99% based on your creditworthiness when you open your account. This APR will vary with the market and is based on the Prime Rate.
APR for Balance Transfers	23.24% to 29.99% based on your creditworthiness when you open your account. This APR will vary with the market and is based on the Prime Rate.
APR for Cash Advances	29.99% This APR will vary with the market and is based on the Prime Rate.
Penalty APR and When it Applies	32.49%   This APR will vary with the market and is based on the Prime Rate, minimum APR 28.99%. This APR may be applied to your account if you: 1) Make a payment 15 calendar days late once; or 2) Make a payment that is returned; or 3) If you exceed your Credit Limit 2 times in 12 consecutive months. How Long Will the Penalty APR Apply? If your APRs are increased for any of these reasons, the Penalty APR will apply until you make 6 consecutive minimum payments when due and do not exceed your Credit Limit during that time period.
How to Avoid Paying Interest on Purchases	Your due date is 24 – 30 days after the close of each billing cycle. We will not charge you interest on new Purchases if you pay your entire balance, or Plan Adjusted Balance if you have any Fixed Payment Program balance(s), in full by the due date each month.
Minimum Interest Charge	If you are charged interest, the charge will be no less than $1.
Fees	SKYPASS Visa Signature® Business Card
Annual Fee
• Annual Membership Fee	$99 for Account Owners and $99 for Authorized Employees.
Transaction Fees
• Balance Transfer	Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
• Convenience Check Cash Advance1	Either 3% of the amount of each advance or $5 minimum, whichever is greater.
• Cash Advance ATM	Either 4% of the amount of each advance or $5 minimum, whichever is greater.
• Cash Advance	Either 4% of the amount of each advance or $5 minimum, whichever is greater.
• Cash Equivalent Advance	Either 4% of the amount of each advance or $10 minimum, whichever is greater.
• Overdraft Protection	None
• Foreign Transaction	None
• U.S. Bank ExtendPay® Fees	A monthly fee not to exceed 1.6% of the original principal amount in a U.S. Bank ExtendPay® Plan or U.S. Bank ExtendPay® Loan.2 This fixed fee is disclosed upon enrollment and charged each month that you owe the applicable ExtendPay balance.
Penalty Fees
• Late Payment	$19 on balances up to $100,  $29 on balances from $100 up to $250,  $39 on balances of $250 or more
• Returned Payment	$39
• Overlimit	$39

How We Will Calculate Your Balance: We use a method called 'average daily balance (including new purchases)'. See your Cardmember Agreement for more details.

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

Loss of Introductory APR: We may end your introductory APR and apply the standard APR or Penalty APR if you make a late payment, make a payment that is returned, or your account exceeds its Credit Limit.

The information about the costs of the card described in this application is accurate as of 09/2023. This information may have changed after this date. To find out what may have changed, call us at 1-866-249-3790 (we accept relay calls) or write to us at P.O. Box 6338, Fargo, ND 58125-6338.

¹Not all products receive convenience checks.

²U.S. Bank ExtendPay® Fees are calculated based upon the original principal amount, Purchase APR, and other factors.

How Variable Interest Rates Are Determined: After the introductory period, your interest rate is a variable rate and is determined by a combination of the Prime Rate (which may vary) added to a margin (which does not change). Because the Prime Rate may vary, your variable interest rate will go up or down if the Prime Rate changes. If you are granted an Account, the following rates on the Account are variable: Non-Introductory Purchase Rate; Non-Introductory Balance Transfer Rate; Cash Advance Rate. More information is available in the Cardmember Agreement.

Fixed Payment Programs: From time to time we may offer to you the benefit of our Fixed Payment Programs, including ExtendPay® Plans and ExtendPay® Loans, which allow you to pay off balances in fixed monthly payments over time. See your Cardmember Agreement for more information.

Notice to 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.

This offer may not be combined with any other enrollment offer. The creditor and issuer of the SKYPASS Visa Card is U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc. and the card is available to United States residents only.

Rewards are not earned for Advances (including wire transfers, travelers checks, money orders, foreign cash transactions, betting transactions, lottery tickets and ATM disbursements), Convenience Checks, Balance Transfers, Interest Charges and Fees, credit insurance charges, or transactions to fund certain prepaid Card products.

In the event of discrepancy between the English and Korean languages on this document, the English version will prevail. All future Cardmember communications will be in English (also in Korean when possible).

Applicant Statement - Business Owner authorizes U.S. Bank National Association ("we", "us", or "our") to obtain a consumer credit report and a business credit report for use in assessing his/her personal creditworthiness in connection with an application by Business, of which Business Owner is an employee, principal, owner, partner, officer, or guarantor, for a SKYPASS Visa Signature® Business Card. We need such consumer reports because Business Owner may have direct, contingent, present, or future liability to us for the Business's obligation in connection with the Account. All applicants agree that, as long as the Account is open, we may obtain credit reports about the applicants from time to time. We reserve the right to consider the applicant for a lower line of credit if one was requested. This application must be signed by a Business Owner with authority to bind the Business to the terms of this Applicant Statement. The Business Owner certifies that the execution, delivery and performance of this Application has been authorized by all necessary corporate action by the Business, and will provide evidence of such action upon request. If the Business is approved for the SKYPASS Visa Signature® Business Card, the Business Owner requests and directs us to open a SKYPASS Visa Signature® Business Card Account ("Account") and to issue SKYPASS Visa Signature® Business Cards ("Cards") to any individual Employees of the Business, including the Business Owner, designated by the Business Owner on this Application or its addendum, or by any process agreed to by us and the Business. The Business Owner and the Business shall be jointly and severally liable for all charges on the account. Each applicant understands and agrees that we may increase or decrease the APR or credit limit assigned to the Account and/or to the Cards within the Account or close the Account at any time based on our credit guidelines, credit report information, Account history, or the financial circumstances of the Cardmember. At the time the Account is opened, individual Employees, including the Business Owner, will be issued Cards and a SKYPASS Visa Signature® Business Card Cardmember Agreement governing individual use of the Account and individual Employee liability for charges to the Account. By providing us with a telephone number for a cellular phone or other wireless device, including a number that you later convert to a cellular number, you are expressly consenting to receiving communications—including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an automatic telephone dialing system—from us and our affiliates and agents at that number. This express consent applies to each such telephone number that you provide to us now or in the future and permits such calls for non-marketing purposes. Calls and messages may incur access fees from your cellular provider. Use of the Card or the Account will signify acceptance of the terms of the Cardmember Agreement, which may be amended from time to time. All applicants must be at least 18 years old and agree that Accounts will be used primarily for business purposes, and not personal, family, or household purposes. Information from this Application may be shared with our affiliates. Cash access is subject to credit approval. If you are granted an Account, you understand and agree that we will report that fact, your name, address, email address, phone number and information about your ongoing account activity to Korean Airlines, but will not disclose to Korean Airlines any other information about you taken from this application or received from third parties. By submitting this application, you certify that you read and understood the disclosures here and you agree to the terms of this application. You certify that to the best of your knowledge, the information provided about yourself, the name and address provided for the legal entity customer, and the information provided about the beneficial owner(s) and/or the individual with control over the legal entity customer is complete and correct.

Authorization for the Social Security Administration to Disclose Your Social Security Number Verification: In connection with your application for this account and by clicking the ACCEPT AND SUBMIT* button, you authorize the Social Security Administration (SSA) to verify and disclose to us through Early Warning Services, LLC, our service provider, whether the name, Social Security Number (SSN) and date of birth you have submitted matches information in SSA records. This one-time consent is valid for the next 90 days.

Balance Transfer Information: Balance transfer transactions from other U.S. Bank National Association accounts are not permitted. You may cancel a balance transfer request within 10 days of account opening by calling 800-285-8585. After 10 days from account opening, requests to stop payment on Balance Transfer Check(s) issued by U.S. Bank shall not be honored unless the check(s) has been stolen, lost or destroyed.

SKYPASS VISA BUSINESS CARD REWARDS SKYPASS Mileage

Account must be open and in good standing to earn rewards and benefits.

(a) We will request that Korean Air (“KAL”) award miles to your SKYPASS Account as follows:

(i)  We will request that KAL award 2 miles to your SKYPASS Account for each dollar of Net Purchases (“Double Miles”) for qualified Korean Air ticket purchases. Qualified Korean Air ticket purchases include such purchases where Korean Air is the merchant of record on your statement, such as tickets purchased directly from Korean Air ticket agents or koreanair.com. Not applicable for ticket purchases from travel agencies, other online travel sites or partners; and

(ii) We will request that KAL award 2 miles to your SKYPASS Account for each dollar of Net Purchases (“Double Miles”) for Purchases from merchants classified as a gas station, electric vehicle charging station, office supply store, cell phone service provider, restaurant, fast-food restaurant, or bar; and

(iii) We will request that KAL award 1 mile to your SKYPASS Account for each dollar of other Net Purchases.

Your SKYPASS Visa Card Account must be used to make the Purchases in order to be eligible to earn miles (including Double Miles). Double Miles awards will appear as Double Miles earned on the Account statement.  The single mile per dollar spent will appear on your Account statement as Purchase Miles. Miles will not be requested if your Account is 5 days or more past due or overlimit at the close of your Account billing period. U.S. Bank cannot control how merchants chose to classify their business or transactions and reserves the right to determine which Purchases will qualify. Not all transactions are considered to be Purchases and eligible to earn miles, such as transactions posting as Convenience Checks; Balance Transfers; Advances (including ATM withdrawals, wire transfers, traveler's checks, money orders, foreign cash transactions, betting transactions, and lottery tickets); interest charges and fees; credit insurance premiums; and transactions to (i) fund certain prepaid card products, (ii) buy currency from the U.S. Mint, or (iii) buy cash convertible items. We reserve the right to adjust the amount of miles requested from KAL for Purchases or to stop requesting miles for Purchases on the Account, upon notice to you. All miles postings are at the discretion of Korean Air. For miles posting discrepancies, please contact Korean Air Service Center at 1-800-438-5000.

(b) "Net Purchases" for a billing period are determined by adding all new Purchases recorded to your Account during the billing period and subtracting any credits and chargebacks to a merchant that have been recorded to your Account during the billing period for returned Purchases. If credit for returns or charges exceed new Purchases in any billing period, the excess credits will be carried forward into successive billing periods and subtracted from future new Purchases to determine the new Purchases for those successive periods. Any cancellations or credits of Korean Air ticket purchases or tied to Purchases from merchants classified as gas station, electric vehicle charging station, office supply store, cell phone service provider, restaurant, fast-food restaurant, or bar will offset future Purchases earning Double Miles, as appropriate.

(c) Participation in SKYPASS is subject to the terms and conditions in the SKYPASS Membership Guide. KAL is solely responsible for the redemption and fulfillment of SKYPASS miles. KAL may change the SKYPASS program rules, program partners, regulations, benefits, conditions of participation or mileage levels, in whole or in part, at any time with or without notice, even though changes may affect the value of mileage already accumulated. Award travel is subject to seat availability. We have no obligation to award miles in the SKYPASS program or to provide or arrange for any service relating to travel or the use of SKYPASS miles. Our sole obligation with regard to the SKYPASS program is to ask that KAL award miles as expressly provided in this Agreement.

(d) The KAL SKYPASS number on this Account must belong to the primary Cardmember. A change to a SKYPASS number must be made with KAL. We will only change the SKYPASS number if we made an error during the set-up and were notified of the error within 120 days of the Account opening.

(e) KAL is not a party to this Agreement and has no authority regarding the Account, including with respect to any extension of credit on the Account. We are solely responsible for all credit extended on the Account. KAL is not a creditor or owner of the Account. You authorize us to share information about you and your Account with KAL.