SKYPASS VisaŽ Business Card Terms and Conditions
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. What this means for you: When you open an account, we will ask you for your name, physical address, date of birth and other information that will allow us to identify you. We may ask to see your driver’s license or other identifying documents.

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.

We apply your payments to balances with lower APRs first.

Disclosure of Credit Card Terms
Interest Rates and Interest Charges SKYPASS VisaŽ Business Card
Annual Percentage Rate (APR) for Purchases Business: 13.24% to 20.24% based on your creditworthiness when you open your account.
This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers Business: 13.24% to 20.24% based on your creditworthiness when you open your account.
This APR will vary with the market based on the Prime Rate.
APR for Cash Advances Business: 24.24%
This APR will vary with the market based on the Prime Rate.
Penalty APR and When it Applies 28.99%      This APR will vary with the market based on the Prime Rate.
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 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 $2.
Fees SKYPASS VisaŽ Business Card
Annual Fee
Annual Membership Fee
$75 for the first year and every year after it will be $75 for Account Owners and $75 for Authorized Employees
Transaction Fees
Balance Transfer
Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
Convenience Check Cash Advance
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
Either 3% of the amount of each advance or $5 minimum, whichever is greater.
Foreign Transaction
None
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
Up to $39
Overlimit
Up to $39
How We Will Calculate Your Balance: We use a method called 'average daily balance (including new purchases)'. See this account 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 02/2016. 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 6353, Fargo, ND 58125-6353.
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 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 such as Visa Buxx®.

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 Company, of which Business Owner is an employee, principal, owner, partner, officer, or guarantor, for a SKYPASS Visa® Business Card. We need such consumer reports because Business Owner may have direct, contingent, present, or future liability to us for the Company’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 Application Agreement.  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® Business Card, the Business Owner requests and directs us to open a SKYPASS Visa® Business Card Account (“Account”) and to issue SKYPASS Visa® 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® 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.
SKYPASS VISA BUSINESS CARD REWARDS
SKYPASS Mileage

(a) We will only request Korean Air ("KAL") to award one mile to your SKYPASS Account for each dollar of Net Purchases on your SKYPASS Visa Business card Account during a billing period as long as your Account is not 5 days or more past due or overlimit at the close of your SKYPASS Visa Business Card billing period. We will not award miles for Advances (including wire transfers, travelers checks, money orders, foreign cash transactions, betting transactions, lottery tickets and ATM disbursements), Convenience Checks, Balance Transfers, and Fees, credit insurance charges, transactions to fund certain prepaid card products,U.S. Mint purchases, or transactions to purchase cash convertible items. However, from time to time we may request miles for special promotions. 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.
(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.
(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.

SKYPASS program rules and regulations, awards and special offers are subject to any applicable laws.

Korean Air reserves the right to modify and regulate the transferability of mileage, awards, and benefits. SKYPASS mileage and awards have no monetary value and subsequently may not be transferred, bartered, sold, or bequeathed except as specified in the guidelines.