INTEREST RATE & INTEREST CHARGE
Purchase Annual Percentage Rate (APR)
0% Intro APR for the first 180 days after each transaction that is added to your account. After that, a fixed rate of 5.99% (0.0164110% daily periodic rate) on any amount that remains unpaid after each transaction’s initial 180-period.
How to Avoid Paying Finance Charges
Your due date will be a minimum of 26 days after the close of each Billing Cycle (which is 30 calendar days). We will not charge you periodic interest on purchases if you pay your entire balance by the due date each Billing Cycle. There will be no finance charge imposed for the first 180 days of every new purchase.
Method of Computing the Balance for Charges (Average Daily balance excluding new purchases)
We add together the beginning balance of your account for each day of the Billing Cycle. (That beginning daily balance will reflect the charges made plus unpaid late fees, as well as all payments and credits made.) We subtract any charges that are less than 180 days old. Your statement will show an Average Daily Balance, which is the sum of the Partial Daily Balance for each day in the Billing Cycle, divided by the number of days in the Billing Cycle.
Credit Card Tips from the Federal Reserve Board
To learn more about factors to consider when applying for or using a credit card, visit the website of the Federal Reserve Board at http://www.federalreserve.gov/creditcard
Annual Membership Fee – $25 A YEAR
Transaction Fees – NONE
To calculate the Finance Charge on your Account, the applicable Daily Periodic Rate is multiplied by the Average Daily Balance. The results are then multiplied by the number of days in the Billing Cycle. To determine your Daily Periodic Rate (0.0164110%), divide the Annual Percentage Rate (5.99) by 365. When an Extension of Credit is issued, there will be no Finance Charge imposed for the first 180 days.
Acceptance of Cardholder Agreement
By signing the application and by either signing or using the Card, you accept the terms and conditions of the Cardholder Agreement and acknowledge receipt of a copy for future references.
Changes to your Cardholder Agreement
We can change or add to the Cardholder Agreement (terms and conditions) of your Account at any time. Future changes will be made in accordance with this Cardholder Agreement and applicable law. You will have 45 days from the time you are notified of any changes to return the Card or notify us that you reject the changes and want to close your Account. You will still remain responsible for all outstanding Account balances and will not be allowed to add new charges on the Card. If you use the Card after receiving notification of the changes, you will be accepting the changes.
USING YOUR MEDMAXFINANCE CARD
The MedMaxFinance ACCESSCARD (the “Card”) gives you financial flexibility when you have to pay medical bills from Healthcare Providers who have agreed to accept the Card. The Card is a limited-use card and can only be used with Healthcare Providers who have agreed to accept the Card. The Card cannot be used to pay medical debt to any collection agency, even if the debt was originally owed for a service from a Healthcare Provider who has agreed to accept the Card. Each Healthcare Provider has the option at its sole discretion not to accept the membership ACCESSCARD as a method of payment for initial amounts due at the time of service. As a member of the ACCESSCARD program, you are required to make a payment each Billing Cycle toward any outstanding balance on your Account. Beginning the second month you have a $0 balance, you will not receive a monthly statement. You will again receive monthly statements when you have an outstanding balance.
Each person to whom we issue the Card is considered an Authorized User, and should sign the ACCESSCARD as soon as it is received, prior to using it. A person who is authorized to add medical charges to your ACCESSCARD is also considered an Authorized User. The Card is non-transferable. You may not assign responsibility for your ACCESSCARD or Account to another person without obtaining our written approval. You must notify us when you would like to remove an Authorized User from the ACCESSCARD.
At the time you apply for the ACCESSCARD, we will establish a Credit Limit for which you qualify, based upon your income and the source of that income as you reported to us. We will not pull your credit report or rely upon information from a credit reporting agency. We will compare your reported income with the Federal Poverty Guidelines to establish your Credit Limit. Your Credit Limit is shown on the Approval Letter you receive with the ACCESSCARD and on each of your Billing Statements. You agree not to use the ACCESSCARD when doing so will cause your Account Balance to exceed your total Credit Limit.
We will review your account periodically or upon your request to assess your ability to qualify for a higher Credit Limit. You may qualify for a higher Credit Line limit based upon your total income, number of dependents, account history, and outstanding account balance. You agree that we may change your credit limit at any time.
You may authorize us to transfer a portion of your Credit Limit from your MedMaxFinance ACCESSCARD to any other credit card that MedMaxFinance offers or vice versa. By doing so, you understand that the content of the Cardholder Agreement and Privacy Notice for each card may vary; the APR, finance charges, and overall fees associated with each Card may also increase or decrease, depending upon the Healthcare provider that you are conducting business with.
You agree not to allow your Account Balance (including Finance Charges and other charges) to exceed your total Credit Limit. We are not obligated to extend you credit if you have exceeded your total Credit Limit, or if the amount requested would cause your outstanding balance to exceed your total Credit Limit. You agree to pay any amount that exceeds your Credit Limit immediately.
Annual Membership Fee
You will be charged $25.00 for your first Annual Membership Fee and every year after that, until you close your Account. The Annual Membership Fee will be charged each year on the anniversary date of opening your Account.
If you do not submit your Minimum Payment by the due date provided on your Billing Statement, you will be charged a Late Fee of $25.00. If your Minimum Payment was already late in one of the six prior Billing Periods, your Late Fee may increase to $35.00. In no event will your late fee exceed the minimum payment due for the Billing Cycle in which the payment is late.
Return Item Charge
We impose a Return Item Charge of $25.00 when a payment on your Account is returned unpaid by your financial institution. If we already received a return item for you in one of the six prior Billing Periods, your Return Item Charge may increase to $35.00.
Additional Card Fee
The first additional card issued on your Account for yourself or an Authorized User is free of charge. We will charge you an Additional Card Fee of $15.00 for the second and subsequent Cards issued on your Account.
We may charge you a research fee of $5 for each copy of a billing statement that you request. We will not charge this fee if you request copies in connection with a billing dispute.
The amount of your payment should be at least your Minimum Payment, payable in U.S dollars, and drawn or payable through a U.S. financial institution or the U.S. branch of a foreign financial institution. You may submit a payment by mail by sending a check or money order to the address provided on your Billing Statement. If your payment is not submitted in accordance with our payment instructions, there may be a delay in processing and crediting your payment.
Promise To Pay
When you pay a medical bill for yourself or someone else by using the ACCESSCARD, you become responsible for all charges itemized on that bill, and promise to pay the total amount, plus Finance Charges and Late Fees, if applicable.
Minimum Payment Due
You must make your Minimum Payment so that we receive it by the time and date it is due. You may make payments greater than your required Minimum Payment without any penalty. Your Minimum Payment amount is the greater of (a) 3% of the total outstanding balance or (b) $25.00. If the total Outstanding Balance of your Account is less than $25.00, the Minimum Payment will be equal to the total outstanding balance.
How We Apply Payments
We apply payments at our discretion, in a manner that is most favorable and convenient to us. When you have multiple charges with a single client (Healthcare Provider), we will prorate your minimum payment based on the percent of the principal amount that is owed to that client. When you have charges with several Clients (more than one Healthcare Provider), your payment will be prorated to all clients, based on the percent of the principal amount that is owed to each individual client (Healthcare Provider).
OTHER IMPORTANT INFORMATION
MedMaxFinance ACCESSCARD can only be used at participating Healthcare providers. MedMaxFinance does not have the authority to alter the balance owed to your Healthcare provider. However, if you notice a discrepancy with one of the charges outlined on your statement, please contact us in writing at MedMaxFinance PO Box. 5148, Clearwater, FL 33758. We must hear from you no later than 60 days after we sent you the first Billing Statement in which the error appeared. If the Healthcare Provider resolves the dispute in your favor, a credit will be issued to your account. If the Healthcare Provider does not resolve the dispute in your favor, the charge will be added to the principal balance on your account and, if appropriate, accrued interest will be assessed.
If you fail to make your Minimum Payment when due, we will be entitled, at our discretion, to make all Outstanding Balances on the Card immediately due and payable to us. In addition, our obligation to extend you further credit may be terminated.
Your ACCESSCARD balance will, at our option, become immediately due and payable, without notification, in the event that:
If your Account defaults and is referred to a collection agency or attorney for collections, you agree to pay collections costs, including reasonable collection agency fees or costs, and attorney fees and court costs as permitted by applicable law.
Use of Cardholder’s Information and the Cardholder’s Consent to Communications
We will send your Billing Statements to the address provided by you in the application. We will use any telephone number(s), email address(es) and/or physical address(es) you provide to us to communicate with you about your Application and/or your Account. By providing us with your home telephone number, cellular telephone number, email address or other contact information, you authorize us, and our affiliates to contact you using any Automatic Dialing System, Pre-Recorded form of Voice/Messaging service or E-mail alert. Any complaint received via e-mail will be responded to in the same manner to the same address(es) from which the e-mail was sent and that any communication by e-mail constitutes the cardholder’s agreement to accept notices and other important communication by e-mail.
We may monitor any telephone calls to or from you for quality assurance and training purposes.
Liabilities for Unauthorized Use of the Card
You will not be liable for unauthorized use of your Card or Account which occurs once you have reported your Card to us as lost or stolen. To protect your rights, you are required to notify us orally by telephone at (855) 533-5200 or in writing at Post Office Box 5148, Clearwater, FL 33758, as soon as you are aware that your credit card or access to your Account has been breached by loss, theft, or without your consent.
If your Account is paid in full with a zero balance and you would like to close your Account, you must contact us in writing or by telephone. Otherwise, even if the Account is not being used, it will remain open and the Annual Membership Fee will be charged every year on the anniversary date of opening your Account.
Cancelation of your Account
You must READ the ACCESSCARD Cardholder Agreement upon receipt. If after reading the disclosures you do not accept the Terms and Conditions of the ACCESSCARD Cardholder Agreement, you must notify MedMaxFinance at (855) 533-5200 within 3 days after receiving your ACCESSCARD welcome packet. You will remain responsible for any amounts you have charged prior to MedMaxFinance’s receipt of your notice of non-acceptance, but your ACCESSCARD account will be closed as of the date we receive your notice of non-acceptance.
MedMaxFinance Contact Information
To send communications in writing mail us at: Post Office Box 5148, Clearwater Fl. 33758, or you can call us at: (855) 533-5200, or you can visit our website www.MedMaxFinance.com
Change of Address Notification
In order to ensure prompt delivery of your Billing Statements and other notifications, you must notify us promptly of any changes in your physical address, e-mail address or telephone number(s). We are not required to excuse missed or delayed payments resulting from incorrect or outdated addresses or telephone information.
This contract is governed by the laws of Florida and all applicable Federal Laws and regulations.
“You”/”Cardholder” means the individual who applies for, is approved for and receives a medical services credit card from MedMaxFinance.
“We”, “us” or “our” means MedMaxFinance.
The “Card/ ACCESSCARD” refers to the MedMaxFinance membership card issued to you and used to pay for healthcare services from specific Healthcare Providers who have agreed to accept the membership ACCESSCARD.
The “Client”/”Healthcare Provider” identifies those specific healthcare providers who have agreed to accept the membership ACCESSCARD.
“Account” means the revolving line of credit you access by charging healthcare services on the ACCESSCARD.
“Cardholder Agreement” refers to the agreement between you and us relating to the membership ACCESSCARD. It includes the terms and conditions outlined in this Agreement and Application and any notifications of changes to these specific documents.