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Ace Rewards® Visa® 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 Ace Rewards® Visa® Business Card
Annual Percentage Rate (APR) for Purchases Ace Rewards Visa Business: 14.24% to 23.24% 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 Ace Rewards Visa Business: 14.24% to 23.24% 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 Ace Rewards Visa 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 payments 5 calendar days late twice, or 30 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 Ace Rewards® Visa® Business Card
Annual Fee
Annual Membership Fee
None
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
None
Foreign Transaction
2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars
3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency
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 10/2016. This information may have changed after this date. To find out what may have changed, call us at 1-866-951-3871 (we accept relay calls) or write to us at P.O. Box 6353, Fargo, ND 58125-6353.
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.
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 an Ace Rewards 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 Ace Rewards Visa Business Card, the Business Owner requests and directs us to open an Ace Rewards Visa Business Card Account (“Account”) and to issue Ace Rewards 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 an Ace Rewards Visa Business Cardmember Agreement governing individual use of 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. By applying for credit, you are also requesting enrollment into the Ace Rewards program, and you agree that U.S. Bank may share your name, address and telephone number to Ace for that purpose if your Application is approved. If you are granted an Account, you understand and agree that we will report that fact, your name, address, email address, phone number and (if captured) birth date and information about your ongoing account activity to Ace, but will not disclose to Ace any other information about you taken from this Application or received from third parties. By signing the application you certify that you have read and understood the disclosures here and you agree to the terms of this Application.
Ace Rewards Disclosures
Account must be open and in good standing to earn and redeem rewards and benefits. Please refer to your Ace Rewards Card Member Agreement for additional information.

As solely used in this Ace Rewards Program section (and not elsewhere in this Agreement), the term "Ace Rewards Account Number" refers to the loyalty program number assigned to you and used by Ace Hardware Corporation ("Ace") to administer the Points in the Ace Rewards Program. The term "Account" used by itself shall continue to mean the Ace Rewards Visa Credit Card Account as defined in the first paragraph of this Agreement. "Ace Rewards Account" means the account held by Ace into which Ace Rewards Points are awarded.

(a) We will request that Ace award Ace Rewards Points ("Points") to your Ace Rewards Account for each dollar of Net Purchases (as defined below) on your Card for Ace Purchases (as defined below) and for each dollar of Net Purchases made from other merchants ("Non-Ace Purchases"). In addition, we may request that Ace award additional Points for Net Purchases made at merchants classified in certain industries (for example, gas or grocery) specified in advertising or other materials that we provide from time to time. Additionally, we may request that Ace award additional Points for Ace Purchases if a minimum amount of Net Purchases are made on the Account during a calendar year. Specific point values for all Points earned are included on the Card carrier provided at Account opening. To qualify, Net Purchases must be made during a billing period when your Account is open and in good standing and not more than 29 days delinquent at the close of your billing period. We will not request an award of Points for Advances (including cash advances, 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, transactions to fund certain prepaid card products, U.S. Mint purchases, or transactions to purchase cash convertible items.

(b) "Ace Purchases" means purchases made directly from Ace Stores or online at acehardware.com. "Net Purchases" for a billing period are determined by adding all new Purchases (Ace Purchases and Non-Ace Purchases) recorded to your Account during the billing period and subtracting any credits (other than payment credits) and chargebacks to a merchant that have been recorded to your Account during the billing period. If credit for returned charges exceeds new Purchases in any billing period, the excess credit will be carried forward into successive billing periods and subtracted from future new Purchases to determine the new Purchases for those successive periods. We may round Net Purchases up or down to a whole dollar amount for purposes of awarding Points. With respect to additional Points offered for merchants classified in industries, we will notify you on your Card carrier and any promotional materials which industries qualify; however, we cannot control how a merchant chooses to classify its business, and reserve the right to determine which Purchases qualify for the additional Points.

(c) Participation in the Ace Rewards Program is subject to the terms and conditions in the Ace Rewards Program Rules and at acehardware.com. Ace is solely responsible for the redemption and fulfillment of Points. U.S. Bank does not control which Ace locations participate in the Ace Rewards Program. Ace may change the Ace Rewards Program terms and conditions, rules, program partners, Ace Rewards Program regulations, benefits, conditions of participation or Point levels, in whole or in part, at any time with or without notice, even though changes may affect the value of Points already accumulated. We have no obligation to award Points in the Ace Rewards Program or to provide or arrange for any service relating to the use of Points. Our sole obligation with regard to the Ace Rewards Program is to ask that Ace award Points as expressly provided in this Agreement.

(d) The Ace Rewards Account Number on this Account must belong to the primary Cardmember. A change to an Ace Rewards Account Number or Ace Rewards Account must be made with Ace.

(e) Ace is not a party to this Agreement and has no authority or responsibility regarding the Ace Rewards Visa Credit Card Account, including with respect to any extension of credit on the Account. We are solely responsible for all credit extended on the Account. Ace is not a creditor or owner of the Account. We reserve the right to change these Reward Program rules with or without notice to you.

The creditor and issuer of the Ace Rewards Visa Card is U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc., and this card is available to United States residents only.
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