Credit Terms and Conditions
Easy Payments With Masseys Credit We make shopping even more convenient with our Masseys Credit option. With Masseys Credit, you can conveniently spread your payments over several months (subject to credit approval). Many payments are as low as $20 per month and there’s NO money down. Sorry, we can only ship out orders to the United States and Puerto Rico.
MASSEYS® CREDIT TERMS effective December 31, 2012
|$20||$30||$40||10% OF THE BALANCE|
TERMS: ALL CREDIT ORDERS ARE SUBJECT TO CREDIT APPROVAL.
You must be at least 21 years of age and must meet our credit worthiness requirements, which include the ability to make the required payments under the terms of your account. We may obtain a report about you from a credit bureau. If you ask us, we are happy to provide you the name and address of any bureau providing such reports. There will be a returned check charge added to your account for each check returned to us by your bank of $20 or the maximum allowed by law. Returned checks may be processed electronically.
Each month you must pay at least the Minimum Monthly Payment, plus any past due amounts, by the due date shown on your monthly statement, a payment will be considered "on-time" if we received it by 5 p.m. on the due date. Your Minimum Monthly Payment amount is calculated based on your Highest Net Purchase Balance (this is your purchases minus any returns) since your account was last paid in full. This Minimum Monthly Payment amount is calculated as shown in the box above and will not decrease until your Highest Net Purchase Balance goes down OR your account is paid in full. Payments in excess of the minimum will reduce your balance and FINANCE CHARGES, but will not prepay or be applied against future Minimum Monthly Payments. Payments will be applied first to RETURNED CHECK CHARGES, LATE FEES and FINANCE CHARGES, then to amounts financed in the order charged to your account. The amount financed includes the Masseys (merchandise) price plus shipping and processing (WI and VA residents also includes Sales Tax). This amount does not include any finance charge which will be calculated if full amount due is not received by Due Date. Any overpaid accounts will be refunded to the customer after the payment(s) have cleared banking channels. You agree to be responsible for these payments to Masseys or its assigns.
When you provide a check as payment, you authorize us to use information from your check to make a one-time electronic fund transfer from your account. In certain circumstances, such as for technical or processing reasons, we may process your payment as a check transaction. Please call us at 800-985-1626 if you do not want your checks processed in this way.
If the New Balance shown on your monthly statement is not paid in full within 25 days of the statement date, a FINANCE CHARGE will be added to your account calculated at the rate shown below, but not less than a MINIMUM FINANCE CHARGE of 50¢ per month, except for residents of AR, AK, CA, CT, DE, FL, GA, IA, ID, IL, KS, KY, NC, ND, NH, NM, NV, OH, RI, UT, VA, WA, and WI have a minimum of $1.00 per month; TX Residents at 75¢ per month; GU, MI, MO, NY, and TN residents at 70¢ per month. For residents of DC, HI, MD, NE, OR, or PR, there will be no minimum charge. We figure the FINANCE CHARGE on your account by applying the applicable periodic rate to the "average daily balance" of your account including current transactions (MA, MN, MT, and NM exclude these new purchases). To get the "average daily balance" we take the beginning balance of your account each day, add any new purchases (except in MA, MN, MT and NM where new purchases will be included as of the start of the next billing cycle), and subtract any payments or credits and unpaid FINANCE CHARGES, LATE FEES, and RETURNED CHECK CHARGES. This gives us the daily balance. Then, we add up all of the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the "average daily balance".
If you fail to make the Minimum Monthly Payment required on your statement by the due date, you will be subject to a late fee in an amount equal to your missed payment(s) up to that which is allowable by law, but at no time will the LATE FEE be higher than $15.00 per each late payment you make. If you live in one of the following states your LATE FEE will be as follows: AR, FL, MT, NJ - $10 after 10 days; AK, CO, CT, DC, GA, ID, IN, LA, MI, MS, ND, NH, NM, NV, NY, OK, OR, PA, SD, TN, VI, VT, WA, WI - $15 after 10 days; CA - $15 after 15 days; AZ, KS, MO - $5 on balances of $25 or less, $10 on balances over $25 after 10 days; AL, IL, KY - the greater of $10 or 5% of installment after 10 days; HI - the lesser of $15 or 5% of installment after 10 days; IA, PR UT - $15 after due date; MA - the lesser of $10 or 10% of minimum payment after 15 days; ME – the lesser of 5% of the unpaid balance or $10 after 15 days; MN - the greater of $7.80 or 5% of unpaid balance after 10 days; NC - $5 if unpaid balance is $100 or less, $10 if above after 30 days; NE - the greater of 5% of installment or $5 after 10 days; OH - the lesser of 5% of installment or $3 after 10 days; SC - the lesser of $15 or 5% of balance after 10 days; RI - $12 after 40 days; TX - $10 after 21 days; VA - 5% of installment after 7 days; WV - the lesser of $15 or 5% of installment after 10 days; WY - the greater of $10.00 or 5% of unpaid installment after 10 days.
If you exceed your credit limit, we will not charge you an over-the-limit fee.
If you fail to pay the Minimum Monthly Payment when due, or upon your default if otherwise defined under Applicable Law, or upon your becoming insolvent or the subject of bankruptcy or other insolvency proceedings, Masseys® will have the right to refuse to extend any further credit and, after giving you any notice and opportunity to cure the default required by Applicable Law, the right to declare your account immediately due and payable.
These rules are the contract which applies to all purchases on your Account. Masseys® may close your Account to future purchases or limit their amount. Masseys® may amend these rules from time to time by sending you advance written notice, and to the extent the law permits your use of the Account thereafter will indicate your agreement to the amendments. To the extent the law permits, and Masseys® indicates in its notice, amendments will apply to your existing Account Balance as well as to future transactions. The Applicable Law governing your Account is the law of the state of your address. We must be able to verify information you provide. You must be at least 21 years old. When you have an account, we may get credit reports to update our records at any time, or to decide whether to give you additional credit or for other legitimate purposes.
Accord and Satisfaction:
No payment by you or receipt of payment from you to Masseys shall be deemed to be other than on account of the amount due, and no endorsement or statement on any check or any letter accompanying any check or payment by you shall be deemed an accord and satisfaction, and Masseys may accept such check as payment without prejudice to Masseys’ right to recover the balance of such installment or payment or pursue any other remedies available to Masseys.
All disputes, claims or controversies arising from or relating to these rules or the relationships which result from this purchase contract, the validity of this arbitration clause, this purchase contract or these rules, shall be resolved by binding arbitration to be conducted between you, individually, and Masseys®, except for actions by Masseys® to enforce your payment obligations upon declaring your Account in default and due and payable. All arbitration under this provision shall be conducted under the auspices of a single arbitrator selected in accordance with the procedures of the American Arbitration Association and shall be conducted pursuant to the Commercial Arbitration Rules of such organization. This arbitration provision is made in connection with a transaction in interstate commerce, and shall be governed by the Federal Arbitration Act. You agree and understand that you have a right or opportunity to litigate disputes through a court, but that you and Masseys® have chosen to resolve disputes through arbitration, except as provided above with regard to enforcement of payment obligations. MASSEYS® AND YOU VOLUNTARILY AND KNOWINGLY WAIVE ANY RIGHT THEY HAVE TO A JURY TRIAL IN CONNECTION WITH ANY AND ALL DISPUTES, CLAIMS OR CONTROVERSIES COVERED BY THIS ARBITRATION PROVISION. You agree and understand that all disputes arising under case law, statutory law (federal, state or local) and all other laws, including, but not limited to, all contract, tort and property disputes, will be subject to binding arbitration in accord with this provision. If you would like to obtain a copy of the procedures and rules of the American Arbitration Association, you can either, make a written request directly to them at: American Arbitration Association, 13455 Noel Road, Suite 1750, Dallas, TX 75240-6620 or go to their website at www.adr.org.
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.
Married Wisconsin Residents:
No provision of any marital property agreement, unilateral statement, or court order applying to marital property will adversely affect a creditor’s interests unless prior to the time credit is granted, the creditor is furnished with a copy of the agreement, statement or court order, or has actual knowledge of the provision.
New York/Rhode Island/Vermont Residents:
You agree to give Masseys® permission to access your credit report in connection with any transaction, or extension of credit, and on an on-going basis, for the purpose of reviewing your Account, adjusting the credit line on your Account, taking collection action on your Account, or for any other legitimate purposes associated with your account. Upon your request, you will be informed of whether or not a consumer credit report was ordered, and if it was, you will be given the name and address of the consumer reporting agency that furnished the report. New York residents can contact the New York State Banking Department to obtain a comparative listing of credit card rates, fees and grace periods at New York State Banking Department: 1-800-518-8866.
California and Utah Residents:
As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit-reporting agency if you fail to fulfill the terms of your credit obligations.
To contact us about this Account call 800-627-7397. This contract is subject in whole or in part to Texas law, which is enforced by the Consumer Credit commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207. Phone: (512) 936-7600. Contact the Commissioner relative to any inquiries or complaints.
To help the government fight identity theft, the funding of terrorism, and money laundering activities, Federal law requires us to obtain, verify, and record information that identifies each person who opens an account. When you open or access an account with us, we may ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask for other identifying information as needed.
Your Billing Rights:
KEEP A COPY OF THIS NOTICE FOR FUTURE USE. This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
Notify Us in Case of Errors or Questions About Your Bill. If you think your bill is incorrect, or if you need more information about a transaction on your bill, write to us (on a separate sheet): Masseys® Credit Dept., 1251 1st Avenue, Chippewa Falls, WI 54729. Write to us as soon as possible. We must hear from you no later than 60 days after we sent you the first bill on which the error or problem occurred. You can telephone us, but doing so will not preserve your rights.
In your letter, give us the following information. Your name and account number. The dollar amount of the suspected error. Describe the error and explain, if you can, why you believe there is an error. If you need more information, describe the item you are not sure about.
Your Rights and Our Responsibilities After We Receive Your Written Notice:
We must acknowledge your letter within 30 days unless we have corrected the error by then. Within 90 days we must either correct the error or explain why we believe the bill was correct. After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent, but we can apply any unpaid amount against your credit limit. You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question. If we find that we made a mistake on your bill, you will not have to pay for any finance charges related to any questioned amount. If we didn’t make a mistake, you may have to pay finance charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date that it is due. If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within ten days telling us that you still refuse to pay, we must let anyone we report you to know that you have a question about your bill. And, we must tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter has been settled between us when it finally is. If we don’t follow these rules, we can’t collect the first $50.00 of the questioned amount, even if your bill was correct.
|Annual Percentage Rate (APR) for purchases|
|AL: 21% up to $750; 18% over $750|
|CO, GA, IN, MS, OK, TN, VT, WY: 21%|
|FL, LA, MA, ME, MN, NC, OH, VI: 18%|
|GU, NE: 21% up to $500; 18% over $500|
|TX: 18% up to $3150; 12% over $3150|
|WV: 18% up to $750; 12% over $750|
|All other States and U.S. Territories: 23.99%|
|Grace Period for Repayment of Balances for purchases|
|METHOD FOR COMPUTING BALANCE FOR PURCHASES|
|MA, MN, MT, NM: Average Daily Balance |
(excluding new purchases)
All other States: Average Daily Balance
(including new purchases)
|Over Limit Fees:||None|
|Late Payment:||Up to $15.00 See LATE FEES in Credit Terms above|
|Returned Payment:||Up to $20.00 See OVERDRAFT CHARGES in Credit Terms above|
|MINIMUM FINANCE CHARGE|
|AR, AK, CA, CT, DE, FL, GA, ID, IL, IA, KS, KY, NV, NH, NM, NC, ND, OH, RI, UT, VA, WA, WI: $1.00 |
|GU, MI, MO, NY, TN:$0.70|
|DC, HI, MD, NE, OR, PR: None|
|All other States and U.S. Territories: $0.50|
|The information in this table is accurate as of November 01, 2012. This information may have changed after that date. To find out what may have changed, write to us at Masseys® Credit Dept., 1251 1st Avenue, Chippewa Falls, WI 54729. |
|Facts||What does Masseys do with your personal information from your Masseys credit account?|
|Why?||Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share and protect your personal information. Please read this notice carefully to understand what we do.|
|What?||The types of personal information we collect and share depend on the product or service you have with us. This information can include:|
• Social Security number and income
• Account balances and account transactions
• Credit history and credit scores
|How?||All financial companies need to share customers’ information to run their everyday business. In the section below we list the reasons financial companies can share their customers’ personal information; the reasons Masseys chooses to share; and whether you can limit this sharing.|
|Reasons we can share your personal information||Does Masseys share?||Can you limit this sharing?|
|For our everyday business purposes|
Such as to process your transactions, maintain your account, respond to court orders and legal investigations, or report to credit bureaus
|For our marketing purposes|
To offer our products and services to you
|For joint marketing with other financial companies||No||Yes|
|For our affiliates’ everyday business purposes|
Information about your transactions and experiences
|For our affiliates’ everyday business purposes|
Information about your creditworthiness
|For our affiliates to market to you ||Yes||Yes|
|For nonaffiliates to market to you||Yes||Yes|
|To limit our sharing|
|Call us at 1-877-220-7714|
If you are a new customer, with respect to those circumstances in which you can limit our sharing, we can begin sharing your information thirty (30) days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice.
However, you can contact us at any time to limit our sharing.
|Call us at 1-877-220-7714|
Email us at email@example.com
|Who is providing this notice?||Masseys|
|What we do|
|How does Masseys protect my personal information?||To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.|
|How does Masseys collect my personal information?||We collect your personal information, for example, when you |
• Open an account or apply for financing
• Give us your contact information or give us your income information
• Pay us by check
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
|Why can’t I limit all sharing?||Federal law gives you the right to limit only |
• Sharing for affiliates’ everyday business purposes - information about your creditworthiness
• Affiliates from using your information to market to you
• Sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
|What happens when I limit sharing for an account I hold jointly with someone else?||Your choice will apply to everyone on your account.|
|Affiliates||Companies related by common ownership or control. They can be financial or nonfinancial companies. |
• Our affiliates include nonfinancial companies such as Mason Easy Pay, K. Jordan and Stoneberry.
|Nonaffiliates||Companies not related by common ownership or control. They can be financial and nonfinancial companies.|
• Nonaffiliates we share with may include other direct marketing companies
|Joint marketing||A formal agreement between nonaffiliated financial companies that together market financial products or services to you. |
• Masseys does not have any joint marketing partners
|Other important information|
|If you live in Vermont, we will not share information about your creditworthiness for our affiliates’ everyday business purposes and we will not share information for nonaffiliates to market to you. If you live in California, we will not share information for our affiliates or nonaffiliates to market to you, and we will not share your information for joint marketing with other financial companies.|