Purchases Made Under a Special Payment Plan
Terms and Conditions
When a Special Payment Plan is offered, you can take advantage of that plan by purchasing one or more of the items or types of items specified, provided the minimum stated purchase amount (before taxes and shipping) is made on approved credit with your Hbc Credit Card or Hbc MasterCard®. Credit is extended by GE Money. No interest accrues on your promotional amount financed under your special payment plan (“Promotional Amount”) provided you pay in full by the payment due date shown on your monthly statement or pay your equal monthly payments (including payment of any optional credit insurance). If not, or if you default under the terms of your Hbc Account Agreement, then the regular terms and the annual interest rate as set out in your account agreement (for Hbc Credit Card accountholders at a 28.8% annual interest rate and for Hbc MasterCard accountholders at the applicable rate (28.8% or the greater of 18.5% or Prime* plus 14.5%) or if you subscribe to insurance for Hbc Credit Card accountholders a maximum of 46.7% annual interest rate and for Hbc MasterCard accountholders at the applicable rate (46.7% or the greater of 38.9% or Prime* plus 32.6%) or such lower rate provided in your account agreement, if any) will apply and start to accrue as of your next monthly statement. Your fixed monthly instalment payments (rounded to the next highest dollar) are determined by equally dividing the Promotional Amount over the entire promotional period by the number of months in the promotional period. Regardless of the plan, pharmacy products, tobacco, lottery tickets, phone cards, Hbc Gift Cards and all Licensed Departments, are always excluded. The deferral fee (not applicable in Quebec) may be (a) payable up front, (b) part of your Promotional Amount or (c) not applicable, depending on the special payment plan you accept. Delivery, taxes and extended warranties (where applicable) may be (a) payable up front or (b) part of your Promotional Amount depending on the special payment plan you accept. A billing statement is sent monthly. The billing period covered by each statement will be approximately for 30 days. For Quebec residents, reference above to “annual interest rate” means “annual credit rate”.
The deferred amount or your instalment amount payable each month will be shown separately on your regular Hbc Credit Card or Hbc MasterCard statement.
If you require any further information about promotional offers, contact an Hbc store manager. Any questions regarding your credit card account or how special payment plans work on your account should be directed to Hbc Credit Customer Service at 1-800-263-2599.
Illustrations of Monthly Credit Charges for a promotional period of 12 months (For Quebec residents)
| Without credit insurance | With credit insurance | |||||
|---|---|---|---|---|---|---|
| Promotional Amount (Average Daily Balance) | $750 | $1000 | $1250 | $750 | $1000 | $1250 |
| Credit Charges (ACR of 28.8% and with insurance 46.7%) | $17.75 | $23.67 | $29.59 | $28.93 | $38.57 | $48.21 |
| Credit Charges (ACR of 18.9% and with insurance 36.8%) | $11.65 | $15.53 | $19.42 | $22.83 | $30.43 | $38.04 |
| Credit Charges (ACR of 20.75%** (Prime plus 14.5%) and with insurance 38.9%** (Prime plus 32.6%)) | $12.79 | $17.05 | $21.32 | $23.97 | $31.95 | $39.95 |
ACR = Annual Credit Rate
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* The prime rate published in the Globe and Mail on the last Friday of the month preceding your billing cycle.
** For illustration purposes only, the rates of 20.75% and 38.9% are based on a prime rate of 6.25%.
