Disclaimer: The document provided herein is an example of the Credit Card Agreement. It is intended solely for illustrative purposes and does not constitute a finalised or personalised agreement.
This agreement is made up of two parts – the Credit Card Agreement and the Additional Terms. You’ll need to read both parts, and together they form your agreement with us. You can ask us if you don’t understand anything. Please keep this document safe in case you need to refer to it.
This agreement is between:
You - Customer Name
Customer Address
Us - Chase, a trading name of J.P. Morgan Europe Limited (25 Bank Street, Canary Wharf, London, E14 5JP), so whenever you see ‘we’, ‘us’ or ‘our’, you know who we’re referring to.
1. Your credit limit
The total amount you can borrow through your account is called a ’credit limit’. We set your credit limit according to your circumstances, how you use your account, information we receive from credit reference agencies and any other information we think is relevant.
We’ll tell you what it is once we’ve opened your account. It is important that you stay within your credit limit. We’ll tell you if we change it.
2. How much does it cost to borrow?
We’ll charge you different interest rates depending on the types of transactions you make. We explain what they mean in the table below.
| Type of transaction | What we mean |
|---|---|
Purchase | Paying for goods or services |
Cash & Cash-related payments (any currency) | For example, taking out cash |
| Type of transaction | Purchase |
|---|---|
| What we mean | Paying for goods or services |
| Type of transaction | Cash & Cash-related payments (any currency) |
| What we mean | For example, taking out cash |
The table below shows the rates and fees that apply to some transactions during any promotional offer period. We call these our ‘promotional rates or charges’.
Promotional rates or charges
| Balance Type | Interest Rates (effective %) and duration | Introductory Fee |
|---|---|---|
Purchases | Your promotional APR and purchase period are tailored to you and will appear here. | - |
| Balance Type | Purchases |
|---|---|
| Interest Rates (effective %) and duration | Your promotional APR and purchase period are tailored to you and will appear here. |
| Introductory Fee | - |
You will lose any promotional rates or charges if we do not receive the minimum payment on time or you go over your credit limit.
In the future, we might make other promotional rates or charges available to you. We’ll tell you if we do. We’ll also tell you when any of these rates are about to end.
The following table shows the standard interest rates that apply to transactions made outside any promotional rates or charges, and on any remaining balance after the end of a promotional offer period.
Standard interest rates - annual (variable)
Cash & Cash-related payments (any currency)*
| Simple% | Effective% |
|---|---|
X% | X% |
| Simple% | X% |
|---|---|
| Effective% | X% |
Purchases
| Simple% | Effective% |
|---|---|
X% | X% |
| Simple% | X% |
|---|---|
| Effective% | X% |
*The rates that will appear here are dependent on your individual offer.
What are simple rates and effective rates?
Simple rate means the actual rate we use to calculate how much interest we charge. Simple annual rates are based on a 365-day year.
Effective rate shows the effect of compounding the simple rate over one year. Compounding is when we charge interest on your balance, including on any interest we’ve charged before.
3. APR and Total Amount Payable
The APR allows you to compare this agreement with those of other credit card providers at the time you sign it. When we calculate the APR and Total Amount Payable, we ignore any promotional offers and assume the following:
- we and you both keep to the terms of this agreement;
- the interest rates and amounts of any fees do not change; and
- your credit limit is £1,200, you make a single purchase of this amount immediately and you repay this amount over one year by 12 equal monthly payments along with interest charges for each month.
Your APR at account opening is X% (variable)
Your Total Amount Payable is £X.
*Your APR and amount payable are dependent on your individual offer and will appear here.
4. Changing the interest rates
As this agreement has no fixed end date and could last a long time, we may need to change the interest rates occasionally. We can’t change terms that we tell you are fixed, such as interest rates fixed for a set period.
If a change to interest rates is to your disadvantage:
- When will we tell you? At least 30 days before the change
- Can you reject the change? Yes, you will have at least 60 days to reject it, but this will close your account. See more details in the section ‘Ending this agreement and closing your account’ in the Additional Terms.
If a change to interest rates is not to your disadvantage, we’ll try and give you at least 7 days notice before the change.
For details of how we can change your other terms (including fees and charges), see your Additional Terms.
5. When do you have to repay what you borrow?
You need to pay at least your minimum payment by the due date shown in your statement each month. More information on how you can make payments is set out in the Additional Terms.