RBC Royal Bank Credit Card Agreement: Terms and Conditions for Use, Study Guides, Projects, Research of Business

Download RBC Royal Bank Credit Card Agreement: Terms and Conditions for Use and more Study Guides, Projects, Research Business in PDF only on Docsity! 1. What This RBC Royal Bank Credit Card Agreement Covers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2. Your Rights and Duties as a Cardholder Using Your Credit Card. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3. Mail Order, Phone or Internet Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4. If Your Credit Card Expires . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5. Security Features and Unauthorized Use of Your Credit Card . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 6. Making Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 7. Minimum Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 8. Applying Your Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 9. Your Credit Limit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 10. Determination of Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 11. Cash Advances . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 12. Standard Annual Fees, Grace Periods and Annual Interest Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 13. Other Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 14. RBC Rewards Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 15. RBC Cash Back Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 16. Co-Branded Credit Cards. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 17. Special Offers (Introductory and Promotional Interest Rates) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 18. Installment Plan Offers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 19. Foreign Currency Conversion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 20. Refunds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 21. Recurring Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 22. Problems with a Purchase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 23. Authorized Users . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 24. Obligations as an Authorized User. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 25. Assignment of Our Rights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 26. Your Monthly Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 27. Electronic Communications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 28. Alerts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 29. Co-Borrower Authority and Disclosure Options . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 30. Tell Us If You Move . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 31. Amending Your Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 32. Interpreting and Enforcing This Agreement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 33. Limitations on Our Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 34. Cancelling this Agreement or any Credit Card . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 35. How to Contact Us. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 36. Complaints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 37. Language . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 38. Protecting Your Privacy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Mass_HNW_NRG_Grey_GreyLine_Bleed_NoMask_CMYK 15912 (05/2022) RBC Royal Bank® Credit Card Agreement RBC Royal Bank Credit Card Agreement | 32 | RBC Royal Bank Credit Card Agreement 1. What This RBC Royal Bank Credit Card Agreement Covers This Agreement sets out the terms under which you may use your RBC Royal Bank Credit Card. It replaces all previous RBC Royal Bank Visa‡/ Chargex‡ or Mastercard‡ Agreements and applies if we send you a reissued or replacement Credit Card, including when your Credit Card expires or if you change to a different RBC Royal Bank Credit Card type covered by this Agreement. If your Credit Card type is discontinued or is no longer offered by us for any reason, you agree that we may send you a replacement Credit Card and that the replacement Credit Card will be governed by the terms set out in this Agreement. This Agreement also covers your RBC Royal Bank Credit Card Account. When this Agreement refers to “you” or “your”, it includes each person who signed or submitted the Credit Card Application, whose name is on the Account or to whom a Credit Card on the Account has been issued (each Credit Card issued on the Account will have its own unique card number) other than an Authorized User. If this includes more than one person, “you” means each one of you. All of you are, individually and together, responsible under and bound by this Agreement. This means that each of you is fully responsible for amounts owing on the Account, irrespective of which one of you incurred or which Credit Card was used to incur any particular charge. The amounts for which you are responsible include any amounts that may have been owing on your Account at the time your Credit Card is issued. “You” and “your” do not include Authorized Users unless otherwise indicated. An “Authorized User” is a person to whom we have issued a Credit Card on your Account at your request. The terms under which we will issue a Credit Card to an Authorized User are set in the “Authorized Users” section of this Agreement. While your Authorized Users will have the same ability to charge transactions to your Account as you do, you will be responsible for all amounts owing on your Account, including those incurred by Authorized Users. You are also responsible for ensuring that all of your Authorized Users comply with the applicable terms and conditions of this Agreement. If you allow someone else including an Authorized User to use your Credit Card or your Account number, you will be liable for any charges incurred by that person even though you intended to limit your authorization to a particular use, time or amount. When this Agreement refers to “we”, “our” or “us”, it means Royal Bank of Canada and companies under RBC®. This Agreement is your promise to pay amounts owing on your Account. You should read it carefully as it explains your rights and duties. The signing, activation or use of a Credit Card or your Account number by you or an Authorized User means that you confirm that you consent to being provided with your Credit Card(s), have received and read this Agreement and agree to and accept all of its terms effective as of that date. Amounts are expressed in Canadian dollars unless otherwise specified or you have a U.S. Dollar Visa Gold Credit Card. From time to time, we may temporarily waive, delay the exercise of, or choose not to enforce any of our rights under this Agreement. Any such action will not affect our right to require that you fulfill your obligations at another time, nor will it preclude any other or further exercise of any other right under this Agreement. By agreeing to the terms of this Agreement, you have requested the benefits and services provided automatically with Credit Cards. Different types of Credit Cards come with different benefits and services, which we may change at any time. Some of these benefits and services are provided by third parties. These third parties, and not us, are responsible to you for the benefits and services offered or provided by them. Optional features are available at an additional cost to you. If you request any of these optional features, we may send you a separate agreement outlining any additional terms and conditions. 2. Your Rights and Duties as a Cardholder Using Your Credit Card You can use your Credit Card and your Account number for any permitted purpose including: ¡ paying for goods and services, whether you buy in person, over the phone, on the Internet or by mail order; ¡ making cash withdrawals at one of our branches, at another financial institution or at a banking machine (ATM) which provides this feature; ¡ taking advantage of a balance transfer offer by transferring all or part of a balance you owe elsewhere to your Account, through our digital banking service or by calling our Cards Customer Service at 1-800 ROYAL® 1-2 (1-800-769-2512); ¡ taking advantage of an installment plan offer by converting eligible purchases into monthly installment payments, repayable pursuant to agreed upon terms (“Installment Plan”). A Credit Card issued on your Account may only be used and directed by the person (either you or an Authorized User) whose name is on that Credit Card. You may not use your Credit Card or Account number for any illegal, improper or unlawful purpose. We also reserve the right to prevent your Credit Card or your Account from being used for certain types of transactions as determined by us, including transactions connected to Internet gambling. When you or your Authorized Users use a Credit Card or your Account number for a transaction, we are lending you the amount of your and your Authorized User’s purchase or Cash Advance, as the case may be. By “Cash Advance(s)”, we mean when you withdraw cash from your Account, make a balance transfer, Cash-Like transaction and/or bill payment that is not a pre-authorized charge that you set up with a merchant. You are liable for and must repay all amounts owing on your Account. The total you owe includes all purchases, Cash Advances, interest and fees. All of those amounts will be shown on your monthly statement. 3. Mail Order, Phone or Internet Sales When you pay for goods or services using your Account number without showing your Credit Card, you will have the same responsibilities as if you had shown your Credit Card and signed a sales draft or receipt or entered your PIN. You will be required to take additional steps (including using a separate password and enrolling in customer security programs such as Visa‡ Secure or Mastercard SecureCode‡) in order to purchase goods and services on the Internet from certain merchants. It is your responsibility to participate in programs established and supported by Visa, Mastercard or us as required if you want to take advantage of these Internet purchase opportunities. 4. If Your Credit Card Expires Your Credit Card expires at the end of the month shown on the Credit Card. You must not use your Credit Card or your Account number if your Credit Card has expired. If anything is charged to your Account after it has expired, you are responsible for and must pay the amount owing. 5. Security Features and Unauthorized Use of Your Credit Card We will provide you with a personal identification number (PIN) for your Credit Card or advise you how to select it. We will also tell you how to change your PIN. Your PIN is an example of Personal Authentication Information, which means a PIN or any other password or information that you create or adopt to be used to authenticate your identity in relation to your Credit Card or Account. Other examples of Personal Authentication Information include passwords and access codes that may be used or required for Internet or other transactions. Protecting the security of your Credit Card is important. You agree to keep your Personal Authentication Information confidential and separate from your Credit Card and/or Account at all times. When selecting Personal Authentication Information, make sure it cannot be easily guessed. A combination selected from your name, date of birth, telephone numbers, address or social insurance number must not be used for your Personal Authentication Information. If your Credit Card, Account Information (which means information about your Credit Card Account including your Account number, security code and expiry date), or Personal Authentication Information is used in an unauthorized manner, you will not be responsible for those charges unless you have demonstrated gross negligence (gross fault if you reside in Quebec) in safeguarding the Credit Card, Account Information, or Personal Authentication Information. You will not be Please note important changes are being made to the RBC Royal Bank® Credit Card Agreement effective July 4 and August 1, 2022. Please visit rbc.com/cardagreementchanges to review these changes which will form part of this Agreement. RBC Royal Bank Credit Card Agreement | 5 or before its Payment Due Date. Interest related to your purchases could appear on the first statement you receive after we process that payment. This is interest that was not included in the New Balance you paid in full because it accrued between the date the monthly statement which showed that New Balance was prepared and the date you made your payment. For purchases converted to Installment Plans, interest is not included on your first statement after you convert the purchase. Interest for the first and second statement periods will appear on your second monthly statement (unless you pay the Total Account Balance shown on the first statement in full by the Payment Due Date). If you have an Installment Plan that is cancelled for any reason on or before the Payment Due Date for your first Total Monthly Plan Payment, the Unpaid Plan Principal for the cancelled plan (in this case, your installed purchase amount) will be subject to the interest rate applicable to regular purchases beginning on the day of the purchase. However, we will waive any interest on the Unpaid Plan Principal for the cancelled plan beginning on the day your plan is created until the day the cancellation is processed (which, for a missed payment, is the last day of the statement period). If you have an Installment Plan that is cancelled for any reason after the Payment Due Date for your first Total Monthly Plan Payment, the Unpaid Plan Principal for the cancelled plan will be subject to the interest rate applicable to regular purchases beginning on the first day of the statement period in which the cancellation is processed. However, we will waive any interest on the Unpaid Plan Principal for the cancelled plan beginning on the first day of the statement period in which the cancellation is processed until the day the cancellation is processed (which, for a missed payment, is the last day of the statement period). After the cancellation is processed, in the case where the New Balance was paid in full by the Payment Due Date that was due in the statement period in which the cancellation is processed, then: ¡ If you pay the New Balance in full by the Payment Due Date that was due in the statement period following cancellation, then you will not be charged interest on the Unpaid Plan Principal. ¡ If you do not pay the New Balance in full by the Payment Due Date that was due in the statement period following cancellation, then we will waive interest on the Unpaid Plan Principal beginning on the day after the cancellation is processed until the last day of the statement period in which the cancellation is processed. Fees are treated in the same manner as purchases for the purpose of charging interest. The transaction date for a fee is the date that the fee is posted to your Account. Cash Advances are treated differently from purchases and never benefit from an interest-free Grace Period – see the section titled “Cash Advances”. We do not charge interest on interest. The amount of interest we charge you on your Current Statement is calculated as follows: ¡ We add the amount you owe each day, and divide that total by the number of days in the statement period. This is your average daily balance. ¡ We multiply the average daily balance by the applicable daily interest rate(s) (obtained by taking the annual interest rate(s) and dividing it by the number of days in the year). We then multiply this value by the total number of days in the statement period to determine the interest we charge you. Where you have an Installment Plan, we use the total principal amount of your Installment Plan still outstanding as the amount that you owe each day to calculate your average daily balance. When there is more than one applicable interest rate, we calculate your interest based on the average daily balances for each rate. Your Current Statement will show your New Balance, Total Account Balance, Payment Due Date, transaction and posting dates, and interest rates, including any applicable Introductory Interest Rate, Promotional Interest Rates and/or Installment Plan interest rates. 11. Cash Advances Interest is always charged on Cash Advances from the day the Cash Advance is made. Cash Advance Fees or Promotional Rate Fees also apply to certain Cash Advances, as set out in the “Other Fees” section of your Agreement. All of the following types of transactions are treated as Cash Advances, and we charge interest from the transaction date: ¡ When you make a cash withdrawal from your Account at an RBC branch or ATM, or at any other financial institution’s branch or ATM; ¡ When you take advantage of a balance transfer offer by transferring all or part of a balance you owe elsewhere to your Account, through our digital banking service or by calling our Cards Customer Service at 1-800 ROYAL® 1-2 (1-800-769-2512); ¡ When you make bill payments from your Account or transfer funds from your Account to another RBC Royal Bank bank account, at one of our branches or ATMs, or through our digital banking or telephone banking service (1-800 ROYAL® 1-1) (note that bill payments made by pre-authorized charges to your Account that you set up with a merchant will usually be treated as purchases, not as Cash Advances, and we will not charge interest from the transaction date); and ¡ When you make Cash-Like transactions, which are transactions similar to cash. This includes money orders, wire transfers, travellers’ cheques and gaming transactions (including betting, off-track betting, race track wagers, casino gaming chips, and lottery tickets). If you are uncertain as to whether a particular transaction will be treated as a Cash Advance or as a purchase, please contact us. 12. Standard Annual Fees, Grace Periods and Annual Interest Rates The following provides some guidance with respect to standard non- refundable annual fees, Grace Periods and standard interest rates for our Credit Cards. If your card type is not shown, it means we are not accepting new applications for that card, but you can refer to the Information Box accompanying your card for this information. Your standard annual fee and standard interest rates may be different from those shown in this Agreement if the terms and conditions for (i) other banking and related services you have with us provide otherwise, or (ii) any promotion or program you may be participating in provides otherwise. Annual fees are charged on the first day of the month following your Account opening (whether or not the Credit Card is activated) and annually thereafter on the first day of that same month. Your current annual interest rates are set out on your monthly statement. They may be different fixed rates from the standard interest rates shown in the chart below or variable rates based on our Prime Rate. If your interest rates are variable rates calculated by adding a fixed percentage to our Prime Rate, they will vary as that Prime Rate varies. The Prime Rate in effect on the first business day of the month in which we prepare your monthly statement will apply for the entire statement period. The Prime Rate portion of your variable rate will be restricted to a maximum of 9%, no matter how high our Prime Rate may be. The Prime Rate is the annual rate of interest we announce from time to time as a reference rate then in effect for determining interest rates on Canadian dollar commercial loans in Canada. It can be found online at rbcroyalbank.com/rates. We will give you at least 30 days written notice of any increase in your standard interest rate(s) (other than increases because of an increase in our Prime Rate or as otherwise set out in this Agreement). The Grace Period is the number of days between the last day of your monthly statement period and your Payment Due Date. It is also an “Interest-Free” Grace Period for purchases and fees, but only if you pay your New Balance in full every month on or before the Payment Due Date as discussed in the “Determination of Interest” section of this Agreement. If the New Balance on your previous monthly statement was paid in full by the Payment Due Date, the Grace Period for your current monthly statement will continue to be the minimum number of days shown in the following chart for your Credit Card. If the previous New Balance was not paid in full by the Payment Due Date, your Payment Due Date will be extended to 25 days from the last day of your monthly statement period regardless of the type of Credit Card you hold. RBC Royal Bank Credit Card Agreement | 76 | RBC Royal Bank Credit Card Agreement Credit Card Non-Refundable Annual Fees Grace Period (days) Annual Interest Rate Primary Card Each Additional Card Purchases Cash Advances* RBC Rewards+® Visa $0 $0 21 19.99% 22.99% RBC Visa Platinum‡ $0 $0 21 19.99% 22.99% RBC Cash Back Mastercard $0 $0 21 19.99% 22.99% RBC Visa Classic Low Rate Option $20 $0 21 12.99% 12.99% Signature® RBC Rewards® Visa $39 $0 21 19.99% 22.99% WestJet RBC Mastercard $39 $19 21 19.99% 22.99% RBC US Dollar Visa Gold $65 US $30 US 21 19.99% 22.99% RBC Cash Back Preferred World Elite Mastercard $99 $0 21 19.99% 22.99% WestJet RBC World Elite Mastercard $119 $59 21 19.99% 22.99% RBC Rewards Visa Preferred $110 $40 21 19.99% 22.99% RBC Avion Visa Platinum (formerly, Visa Platinum Avion) $120 $50 21 19.99% 22.99% RBC Avion Visa Infinite‡ (formerly, Visa Infinite Avion) $120 $50 21 19.99% 22.99% RBC Cathay Pacific‡ Visa Platinum $120 $50 21 20.5% 22.99% RBC British Airways‡ Visa Infinite $165 $75 21 20.5% 22.99% RBC Avion Visa Infinite Privilege $399 $99 21 19.99% 22.99% RBC Avion Visa Infinite Privilege for Private Banking $399 $99 21 19.99% 22.99% * If any of you reside in Quebec and hold a Credit Card other than the RBC Visa Classic Low Rate Option, the annual interest rate on Cash Advances is 21.99%. 13. Other Fees Cash Advance Fee: When you obtain the following types of Cash Advances at your standard interest rate or at an Introductory Interest Rate, a $5.00 fee for each transaction will be charged to your Account, unless otherwise stated: (i) cash withdrawals from your Account at one of our branches or ATMs, or at any other financial institution’s ATM, in or outside of Canada; (ii) bill payments from your Account that are not pre-authorized charges that you set up with a merchant or when you transfer funds from your Account to another RBC Royal Bank bank account at one of our branches or ATMs, or through our digital banking or telephone banking service; (iii) when you make Cash-Like transactions in or outside of Canada. The Cash Advance Fee is $3.50 for the U.S. Dollar Visa Gold. Fees are charged within 3 business days from when the transaction is posted. Promotional Rate Fee: When you take advantage of a Promotional Interest Rate offer during the promotional period by making a balance transfer through our digital banking service or by calling our Cards Customer Service at 1-800 ROYAL® 1-2, a fee representing up to 3% of the balance transfer amount will be charged to your Account. The exact Promotional Rate Fee will be disclosed at the time the offer is made to you. Fees are charged within 3 business days from when the transaction is posted. Overlimit Fee: If your balance exceeds your credit limit at any time during your monthly statement period, a $29 fee will be charged to your Account on the day your balance exceeds your credit limit and on the first day of each subsequent statement period if your balance remains over the limit. A maximum of one Overlimit Fee per statement period is charged. The Overlimit Fee is not applicable to RBC Avion Visa Infinite Privilege and RBC Avion Visa Infinite Privilege for Private Banking Accounts. The Overlimit Fee does not apply if any of you reside in Quebec. Dishonoured Payment Fee: If a payment is not processed because a bank returns a cheque or refuses a pre-authorized debit, a $45 fee will be charged to your Account on the date the payment reversal is posted. This fee is in addition to any fee charged for insufficient funds in the bank account. Additional Monthly Statement Copy Fee: If you order an additional copy of your monthly statement, a $5 fee will be charged to your Account within 3 business days from when the copy was requested. A fee of $1.50 will be charged to your Account within 3 business days from each monthly statement update obtained from one of our branches in Canada or obtained at an ATM that provides monthly statement updates. Transaction Receipt Copy Fee: If you request a copy of any transaction receipt, no fee will be charged if it relates to a transaction on your current monthly statement. Otherwise, a $2 fee for each copy will be charged to your Account each time the situation occurs. Receipt copies are not always available for purchases made using your Credit Card with your PIN. Installment Plan Fee: A fee may be charged when you take advantage of an Installment Plan offer. If charged, it will be disclosed to you at the time of offer, and will be either a (i) one-time fee of up to 3% of the total purchase amount converted to an Installment Plan, charged within 3 business days from the date of conversion, or (ii) monthly fee of up to 1.15% of the total purchase amount converted to an Installment Plan, charged on the last day of each statement period, so long as any portion of the purchase amount remains in the Installment Plan. Where your Installment Plan has a monthly fee, the monthly fees for the first and second statement periods are charged on your second monthly statement. The Installment Plan Fee does not apply if any of you reside in Quebec. For U.S. Dollar Visa Gold, these fees are stated in U.S. Dollars. Fees may change. If they do, we will tell you in advance. If we use a collection agency or a law firm to collect or attempt to collect amounts owed by you to us, you must pay all of our expenses, including legal fees. 14. RBC Rewards Program Many of our Credit Cards allow you to earn RBC Rewards points, which can be redeemed for merchandise, travel and other rewards. If you have this type of Credit Card, the RBC Rewards Terms and Conditions set out the terms of your participation in the RBC Rewards program. They are available for your review at rbcrewards.com. If you would like a paper copy, please let us know. 15. RBC Cash Back Program Some of our Credit Cards allow you to earn back a certain percentage of the total amount of eligible net purchases charged to your Account annually, as a credit to your Account. If you have this type of Credit Card, the RBC Cash Back Terms and Conditions set out the terms of your participation in the RBC Cash Back program, including the manner in which the cash back credit is calculated and credited. They are available for your review at rbc.com/cashbackterms. If you would like a paper copy, please let us know. 16. Co-Branded Credit Cards Some of our Credit Cards allow you to participate in the loyalty programs of other selected companies. These companies do not act on our behalf. They are solely responsible to you for the services and benefits offered through their loyalty programs as well as the administration of such programs, including how you can earn and redeem partner rewards (such as points, miles or reward dollars), and any changes to or termination of such programs. We are not responsible for any loss suffered as a result of your participation in such loyalty programs. 17. Special Offers (Introductory and Promotional Interest Rates) We may make special offers to you from time to time including Introductory Interest Rate and other Promotional Interest Rate offers RBC Royal Bank Credit Card Agreement | 7 that temporarily lower the interest rate applicable to portions of your balance, such as when you make certain types of Cash Advances. We sometimes make Introductory Interest Rate offers which apply to new Accounts only. For example, we could offer a low Introductory Interest Rate applicable to certain transactions for a limited period of time, such as a 3.9% Introductory Interest Rate on all Cash Advances for the first 9 months. A Promotional Interest Rate offer is an offer we may periodically make to you that applies to your Credit Card after your Account has been opened. For example, we could offer you a low Promotional Interest Rate applicable to certain transactions for a limited period of time, such as a 1.99% Promotional Interest Rate on Balance Transfers for 12 months. If we make you a special offer, we will explain its scope and duration and any additional terms that apply to it. If you accept the special offer by taking advantage of it, you will be bound by this Agreement and any additional terms we set out in the offer. When a special offer that you are participating in expires or comes to an end, its terms will end and the terms and conditions of this Agreement will continue to apply, including those related to interest and payments. Your monthly statement will set out any Introductory Interest Rate(s), or Promotional Interest Rate(s) that applies to your New Balance, any remaining balances associated with those rates, and when those rates expire, as well as the details of any Installment Plan offers you are participating in. If any expiry date falls on a date for which we do not process statements (for example, weekends and certain holidays), we will continue to provide you with the benefit of that special offer until our next statement processing day. 18. Installment Plan Offers Installment Plan offers allow you to pay for eligible purchases in monthly installment payments, on agreed terms. The applicable interest rate, any fees and the repayment period will be presented to you at the time of offer. Purchases converted to Installment Plans continue to be counted towards your available credit limit. We may cancel your Installment Plan(s) if your circumstances change, as detailed in your Installment Plan terms, including if you change your Credit Card to an ineligible card type or your Account is closed for any reason. You may choose to cancel your Installment Plan at any time. If your Installment Plan is cancelled, interest on your Installments Not Yet Due will be determined as set out in the “Determination of Interest” section above. If we make you an Installment Plan offer, we will explain its scope and duration and any additional terms that apply to it. If you set up an Installment Plan, you will be bound by this Agreement and the additional terms. Your monthly statement will set out the details of any Installment Plan(s) you are participating in. 19. Foreign Currency Conversion The exchange rate shown on your Statement, to six decimal places, is calculated by dividing the converted Canadian dollar (CAD) amount, rounded to the nearest cent, by the transaction currency amount. It may differ from the original benchmark rate because of this rounding. The CAD amount charged to your account is 2.5% over the benchmark rate. Some foreign currency transactions are converted directly to CAD, while others may be converted first to U.S. dollars, then to CAD. In either case, the benchmark rate will be the actual exchange rate applied at the time of the conversion, and is generally set daily. The original benchmark rate at the time a transaction was converted may be obtained at visa.com/exchange, if set by Visa, or mastercard.ca/currency-converter, if set by Mastercard. If you are paying interest on your Account, interest will also be charged on the full value of your foreign purchases, as determined by our exchange rate. For U.S. Dollar Visa Gold Cardholders, transactions are shown in U.S. Dollars, and the same principles will apply if an amount is charged in a currency other than U.S. Dollars. If you have any questions, please call us toll-free at 1-800 ROYAL® 1-2 (1-800-769-2512). 20. Refunds If a store or merchant gives a refund to you, we will reduce your balance owing by the amount of the refund. However, if interest has been charged as a result of the transaction, we will not refund the interest. If you use your Credit Card or your Account number for a transaction in a foreign currency, and the merchant gives you a refund, the two transactions (the charge and the credit) will not exactly balance because of the exchange rate and currency fluctuations. 21. Recurring Payments You are responsible for any recurring payments you have authorized merchants to charge to your Account, even after you or we cancel this Agreement. If we reissue or replace your Credit Card and you have set up recurring payments, you agree that we may provide that merchant with your new Credit Card number and expiry date. If you wish to discontinue any such payments, you must contact the merchant in writing and then check your monthly statements to ensure that the payments have, in fact, been discontinued. If they have not stopped despite your instructions to a merchant, we may be able to assist you if you provide us with a copy of the written request to the merchant. 22. Problems with a Purchase If you have problems with anything you buy using your Credit Card or your Account number, you must pay the amount owing on your Account and settle the problem directly with the store or merchant. In some circumstances, we may be able to provide assistance in resolving disputed transactions. If you wish to discuss a dispute, you may contact us toll-free during regular business hours at 1-800 ROYAL® 1-2 (1-800-769-2512). 23. Authorized Users An Authorized User is a person to whom we have issued a Credit Card on your Account at your request. You can add or remove Authorized Users by contacting us, though we may limit the number of Authorized Users on the Account. Authorized Users have the same ability to charge transactions to your Account as you do. However, they have no responsibility to us for any amounts owing for purchases, Cash Advances, fees and interest on the Account. If an Authorized User is responsible to you for any of these amounts, you will need to make your own arrangements with that Authorized User for repayment. It is your responsibility to ensure that each Authorized User receives a copy of this Agreement and any replacements or amendments to this Agreement, as well as any notices that affect the use of a Credit Card or your Account. You are responsible for ensuring that all of your Authorized Users comply with the applicable terms and conditions of this Agreement. We may provide Authorized Users with access to information about their transactions on your Account, the credit limit on your Account and the amount of credit available to them on your Account. You may assign individual card limits (up to your current credit limit) to each Authorized User. The card limit is the maximum amount that can be charged to an Authorized User Card each month. This option is not available for all Credit Card types and is subject to additional terms we set out when you enroll. 24. Obligations as an Authorized User By signing, using or activating a Credit Card in his or her name, an Authorized User confirms that they have received and agree to comply with the terms and conditions of this Agreement except that an Authorized User will not be responsible to us for the payment of any amounts owing in respect of purchases, Cash Advances, fees or interest on the Account, and will not be bound by the provisions in this Agreement relating to the repayment of such amounts. An Authorized User is not entering into a credit agreement with us. Without limiting the general obligation of an Authorized User to comply with this Agreement, an Authorized User agrees, among other things, that: ¡ The Credit Card issued to the Authorized User will not be used for any illegal, improper or unlawful purpose or if it has expired; ¡ The Credit Card issued to the Authorized User is for his or her use exclusively and will not be used nor will his or her use be directed by any other person; ¡ All security requirements including those designed to protect Personal Authentication Information will be complied with; ¡ The Authorized User will report to us if he or she suspects that his or her Credit Card has been lost or stolen. RBC Royal Bank Credit Card Agreement | 1110 | RBC Royal Bank Credit Card Agreement We collect and share this information with RBC companies (i) to manage our risks and operations and those of RBC companies, (ii) to comply with valid requests for information about you from regulators, government agencies, public bodies or other entities who have a right to issue such requests, and (iii) to let RBC companies know your choices under “Other Uses and Disclosures of Your Personal Information” below for the purpose of knowing and honouring your choices. We share this information where permitted or required by law, such as to comply with valid requests for information about you from regulators, government agencies, public bodies or other entities who have a right to issue such requests, or to collect a debt owed to us. We may share this information in connection with the sale of all or part of our business or assets. If we have your social insurance number, we may use it for tax related purposes if you hold a product generating income and share it with the appropriate government agencies, and we may also share it with credit reporting agencies as an aid to identify you. Other Uses and Disclosures of Your Personal Information ¡ We may use and disclose this information to promote our products and services, and promote products and services of RBC companies or third parties we select, which may be of interest to you. We may communicate with you through various channels using the contact information you have provided. ¡ We may also, where not prohibited by law, share this information with RBC companies for the purpose of referring you to them or promoting to you products and services which may be of interest to you. We and RBC companies may communicate with you through various channels using the contact information you have provided. You acknowledge that as a result of such sharing they may advise us of those products or services provided. ¡ If you also deal with RBC companies, we may, where not prohibited by law, consolidate this information with information they have about you to allow us and any of them to manage your relationship with RBC companies and our business. You understand that we and RBC companies are separate, affiliated corporations. RBC companies include our affiliates which are engaged in the business of providing any one or more of the following services to the public: deposits, loans and other personal financial services; credit, charge and payment card services; trust and custodial services; securities and brokerage services; and insurance services. You may choose not to have this information shared or used for these other purposes described above under “Other Uses and Disclosures of Your Personal Information” by contacting us as set out below. In this event, (i) you will not be refused credit or other services just for making this choice; and (ii) we will respect your choices; and (iii) we will share your information with RBC companies for the purpose of knowing and honouring your choices. Co-branded credit cards If your Credit Card is a co-branded credit card, you acknowledge and consent to the following additional uses and disclosure of information about you, as disclosed to you when you applied for your Credit Card. Information you gave us in your application was shared with the co- brand partner for enrolment in that co-brand partner’s rewards/loyalty program and used to open an appropriate rewards/loyalty account with that co-brand partner in your name, if you did not already have one. We may transmit to that co-brand partner any updates we receive of any of that information. From time to time, we and the co-brand partner may also exchange information about you (which may include your name, email address, mailing address, date of birth and credit card account number) in order to provide you with the benefits, services, or partner rewards (such as points, miles or reward dollars) that you earn with your co-branded credit card and to provide you with information about those benefits, services or partner rewards. Co-branded WestJet RBC credit cards (“WestJet RBC Credit Cards”) For the purposes of this subsection entitled “Co-branded WestJet RBC credit cards” only, “you” refers only to the primary cardholder who initially signed or submitted the Credit Card Application for the WestJet RBC Credit Card, and whose name is on the Account and WestJet Rewards Program account. If your Credit Card is a WestJet RBC Credit Card, you acknowledge and consent to additional disclosure and uses of information by us and by WestJet, including: (i) disclosure by us to WestJet of information about transactions made by all cardholders on the WestJet RBC Credit Card Account – for example, information about the merchant, transaction amount, transaction date, and total purchases (“Transactional Information”). If there is more than one cardholder on the Account, Transactional Information disclosed to WestJet will not be linked to individual cardholders; and (ii) disclosure by WestJet to us of information relating to your WestJet Rewards Program activity – for example, information about redemptions, WestJet dollars balance, and use of other WestJet Rewards Program benefits (“WestJet Rewards Program Information”). With your consent, we may also disclose to WestJet additional personal information such as your age range, occupation and income range (“Additional Personal Information”). The information disclosed by us to WestJet will be used to administer the WestJet RBC Credit Card program and the WestJet Rewards Program; enable you to receive WestJet dollars; enhance the WestJet RBC Credit Card program or WestJet Rewards Program; provide WestJet RBC Credit Card program offers to you; for internal reporting and analytics purposes; and for the purposes set out in this Agreement. The information disclosed by WestJet to us will be used for internal reporting and analytics purposes. You may choose not to have Transactional Information disclosed by RBC to WestJet and used for the above purposes by contacting us at 1-800 ROYAL® 1-1 (1-800-769-2511). You may choose not to have your WestJet Rewards Program Information disclosed by WestJet to RBC and used for the above purposes by contacting WestJet at 1-888-WESTJET (1- 888-937-8538). You can provide your consent for your Additional Personal Information to be disclosed by RBC to WestJet and used for the above purpose by contacting us at 1-800 ROYAL® 1-1 (1-800-769-2511). You can change any of these preferences by contacting us or WestJet as set out above. Your Right to Access Your Personal Information You may obtain access to your personal information we hold about you at any time and review its content and accuracy, and have it amended as appropriate; however, access may be restricted as permitted or required by law. To request access to your personal information, to ask questions about our privacy policies, or to request that your personal information not be used for any or all of the purposes outlined in “Other Uses or Disclosures of Your Personal Information”, or to ask that your social insurance number not be shared with a credit reporting agency as an identifier, you may do so now or at any time in the future by: ¡ contacting your branch; or ¡ calling us toll-free at 1-800 ROYAL® 1-1 (1-800-769-2511). Our Privacy Policies You may obtain more information about our privacy policies by asking for a copy of our “Financial fraud prevention and privacy protection” brochure, by calling us at the toll-free number shown above or by visiting our website at rbc.com/privacysecurity. ® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. ‡ All other trademarks are the property of their respective owner(s). VPS108613 15912 (05/2022)