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Terms & conditions
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ANNUAL PERCENTAGE RATE
(APR) for purchases
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A fixed introductory rate of for the first six billing cycles following the opening of your account. After that, a variable rate of to , depending on your credit history.
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Other APRs
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Cash Advance APR: 20.24%. Balance Transfer APR: 6.24% to 17.24%, depending on your credit history (same as non-introductory APR for purchases). Default APR: 23.24%. See explanation below.*
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Variable rate information
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The APR for purchase transactions, cash advances, and balance transfers may vary. The APRs are determined monthly by adding a margin to the Prime Rate.** Purchase margin: 2.99% to 13.99%, depending on your credit history. Balance Transfer APR: 2.99% to 13.99%, depending on your credit history. Cash Advance margin: 16.99%. Default margin: 19.99%. See explanation below.*
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Grace period for repayment of balance for new purchases
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No less than 22 days from the statement closing date if the New Balance Total
is paid in full each month by the Payment Due Date.
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Method of computing the balance for purchases
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Average daily balance (including new purchases).
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Annual fee
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No annual fee.
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Minimum finance charge
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$0.50
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International Transaction fee
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2% of the U.S. dollar amount of the transaction, whether originally made in U.S. dollars or converted from a foreign currency.
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Transaction fee for cash advances: the greater of
3% or $5. Balance transfer fee: the greater of 3%
or $5. Late payment fee: $25 if the current
balance is less than $100, $35 on current balances of $100 up to but not
including $1,000, and $39 on balances of $1,000 and over. Over-the-credit-limit
fee: $35
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* The periodic rates and corresponding APRs on all balances may increase for
any of the following reasons: you fail to make a payment to us when due, you
make a payment to us that is not honored, or your Account is otherwise in
default under the cardholder agreement you have with us.
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** The Prime Rate used to determine your APRs is based on a variable rate
index. The index we use is the highest domestic bank "prime rate" as published
in the money rates section of The Wall Street Journal. We determine your APRs
for each billing cycle by adding the margins shown above to the Prime Rate
published on either the first or last business day of the calendar month
immediately preceding the beginning of the billing cycle, whichever is higher.
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The information about the costs of the card described above is accurate as of
2/1/2009. This information
may change after that date. To find out what may have changed, call us at
1-866-4MY-MINI (866-469-6464), or write to us at P.O. Box 30308, Salt Lake
City, UT 84130-0308.
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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 for your name, address, date of birth,
and other information that will allow us to identify you. We may also ask to see
your driver’s license or other identifying documents.
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By completing and returning the
MINI Card Application ('“Application'”), you request a credit card.
You certify that the information you provided in your
MINI Card Application
is true, correct and complete. You give us permission to request information
from you and to make whatever inquiries we consider necessary and appropriate
(including requesting a consumer report from consumer reporting agencies) in
considering granting you credit and for the purpose of any updates, renewals,
extensions of credit, reviewing or collecting your account, or for any other
lawful purpose. You understand that the credit card cardholder agreement
(“Agreement”) that you will receive with your credit card provides for the
compounding of finance charges. Please be sure to include your name, address,
telephone number, and Social Security number with your correspondence. You also
agree that there is no agreement between you and us until we approve your
Application
and issue your credit card. Cards are issued and credit is extended by BMW Bank
of North America, Salt Lake City, Utah, and you agree that the Agreement will
be deemed to have been made in Utah if and when BMW Bank of North America
issues your credit card, and you agree to be bound by the terms of the
Agreement.
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California: A married applicant may apply for a
separate account. We will not disclose marketing information about you to
marketers of goods if you call us at 1-866-4MY-MINI (866-469-6464).
Delaware: Service charges not in excess of those permitted by law
will be charged on the outstanding balance from month to month.
Maryland: Finance charges will be imposed in amounts or at rates not
in excess of those permitted by law. New York: Upon
request you will be informed whether or not a consumer report was requested
and, if a report was requested, the name and address of the consumer reporting
agency. New York residents may contact the New York State Banking Department to
obtain a comparative listing of credit card rates, fees and grace periods. New
York State Banking Department: 1-800-518-8866. Ohio:
The Ohio laws against discrimination require that all creditors make credit
equally available to all credit worthy 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.
Washington: If your credit references and/or history may be verified
in another name, you should indicate that name above. Wisconsin:
No provision of a marital property agreement, a unilateral statement under
section 766.59 or a court decree under section 766.70 adversely affects the
interest of the creditor unless the creditor, prior to the time the credit is
granted, is furnished a copy of the agreement, statement or decree or has
actual knowledge of the adverse provision when the obligation to the creditor
is incurred. Married Wisconsin Residents: We are
required to ask married residents of Wisconsin applying for an individual
account or a joint account with someone who is not their spouse to give us the
name and address of their spouse, regardless of whether their spouse may use
the card. Please furnish the name and address of your spouse to: BMW Bank of
North America, P.O. Box 30308, Salt Lake City, UT 84130-0308.
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The customizable MINI Card is based on a patent-pending process.
©2008 MINI Financial Services, a division of BMW Financial Services NA, LLC. The MINI wordmark and logo are registered trademarks of BMW AG. MINI credit cards are issued by BMW Bank of North America, a wholly-owned subsidiary of BMW Financial Services NA, LLC.
Visa is a registered trademark of Visa International Service Association, and is used by BMW Bank of North America pursuant to license from Visa U.S.A. Inc.
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