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PAYPAL PAY LATER APPLICATION

PayPal Pay Later is only available to U.S. residents.

Please read the Important Disclosures below and the information describing the key credit terms of PayPal Pay Later, Consent to Electronic Communications, initial credit disclosures and the Privacy Policy for PayPal Pay Later. Use the print link above to keep this information for future reference.

IMPORTANT DISCLOSURES

Federal Law requires us to obtain, verify, and record information that identifies you when you open an account. We will use your name, address, date of birth, and other information for this purpose.

By submitting this application you agree to the following:

• You are providing the application information both to Bank and to PayPal, Inc. You also direct Bank to furnish information about you (even if your application is declined) and your PayPal Pay Later Account to PayPal, Inc. (and its affiliates) to create and update their records and to provide you with service and special offers.
• You authorize Bank to make inquiries Bank considers necessary (including requesting reports from consumer reporting agencies and other sources) in evaluating your application, and subsequently, for purposes of reviewing, maintaining or collecting your PayPal Pay Later Account.
• If your application is approved, the credit agreement (“Agreement”) to be sent to you will govern your PayPal Pay Later Account and that the Agreement’s terms include an arbitration provision which may substantially limit your rights unless you reject that provision under the Agreement’s instructions.
• The Agreement will be governed by federal law and Utah law (to the extent that state law applies).

THE KEY CREDIT TERMS PAYPAL PAY LATER
Annual Percentage Rate (APR) for Purchases	20.80%
Delinquency Rate*	24.75%
Variable Rate Information	Your Annual Percentage Rate for Advances may vary and will be equal to (i) the highest bank prime loan rate (“Prime Rate”) as published in The Wall Street Journal in its Money Rates section on the last business day of the calendar month preceding the first day of the billing period plus (ii) 15.5%, but in no event less than 20.8%. The Delinquency Rate may vary and will be equal to the Prime Rate plus 19.5%, but in no event less than 24.75%
Grace Period for Repayment of the Balance for Purchases	26 days, if previous balance is zero or balance is paid in full, otherwise none.
Method of Computing the Balance for Purchases	Average Daily Balance (including New Advances)
Minimum Finance Charge	$1.00 USD

Late Payment Fee:$20.00 USD for a balance of $50.00 USD-$99.99 USD; $25.00 USD for a balance of $100.00 USD-$299.99 USD; $29.00 USD for a balance of $300.00 USD-$999.99 USD; $35.00 USD for a balance of $1,000.00 USD or above. However, if your delinquent Minimum Payment was calculated on a New Balance of less than $50.00 USD, the Late Payment Fee we may impose will not exceed $15.00 USD.

Returned Check Fee: $29.00 USD

*The Delinquency Rate will apply if the Minimum Payment is past due two times in 6 consecutive billing periods.

We may, at any time and for any reason, change, add or delete provisions of the credit card agreement, including increasing rates or fees. These changes may affect existing balances as well as future transactions. We will send you notice of any terms change as required by applicable law. The information about the costs described above is accurate as of billing periods beginning after 8/1/2008. This information may have changed after that date. To find out what may have changed on PayPal Plus Credit Card, write to: PO Box 981064, El Paso, TX 79998-1064; to find out what may have changed on PayPal Pay Later, write to: P.O. Box 981064, El Paso, TX 79998-1064.

CONSENT TO ELECTRONIC COMMUNICATIONS

1. Categories of Communications.
You understand and agree that GE Money Bank, the issuer of the PayPal Pay Later, our assignees, or other holders of your PayPal Pay Later Account (“we” or “us”) may provide to you by electronic means the following categories of information with respect to PayPal Pay Later (“PayPal Pay Later Account”), which may include disclosures required by applicable federal or state law (collectively, "Communications"):

• The initial disclosure statement or agreement (“Agreement”) governing the PayPal Pay Later Account, and periodic billing statements (“Billing Statements”) for the PayPal Pay Later Account, including, without limitation, any Truth in Lending Act disclosures; and
• GE Money Bank’s Privacy Policy (“Privacy Policy”) for the PayPal Pay Later Account.
• Other federal and state law disclosures, notices and communications in connection with the application for, the opening of, maintenance of or collection of the PayPal Pay Later Account.

Communications may be sent to your e-mail address. Communications may include your name and some information about your PayPal Pay Later Account, including your balance or the due date. Electronic Communications may be disclosed to any party with access to your PayPal Pay Later Account or e-mail account or hardware or software used to view your PayPal Pay Later Account or e-mail account.

At our option, we may provide you with paper Communications, such as paper Billing Statements. In addition, if we provide you with paper Billing Statements, we may switch to providing you with electronic Billing Statements upon notice to you, unless you have withdrawn your consent to receive Electronic Communications as set forth below.
2. Manner of Consent.
You acknowledge that by agreeing to the Consent to Electronic Communications through this website, you demonstrate that you can access information that we would provide to you by posting electronic Communications on a website.

3. How to Withdraw Consent.
You may withdraw your consent to receive electronic Communications by not submitting your online application. However, you may not apply for a PayPal Pay Later Account unless you consent to receive electronic Communications. After you open a PayPal Pay Later Account you may withdraw your consent to receive electronic Communications by writing to P.O. Box 981064, El Paso, TX 79998-1064. However, if you do so, we may close your PayPal Pay Later Account to future advances and you will be required to pay off any balances under the terms that apply to your PayPal Pay Later Account at the time you withdraw your consent.

4. Hardware and Software Requirements.
In order to access and retain Communications, you must have:

• An Internet Browser which supports HTML 4.0 and SSL-encryption, such as Netscape 4.0 or later and Microsoft Internet Explorer 4.0 or later.
• A means to print or store notices and information through your browser software.
• A personal computer or equivalent device capable of connecting to the Internet via dial-up, DSL, Cable Modem, Wireless Access Protocol, or equivalent, and that supports the foregoing requirements.

5. Paper Copies of Communications.
Upon your request, we will send you a paper copy of the Agreement, the Privacy Policy and/or other material provided pursuant to the Consent to Electronic Communication. If you would like a paper copy of any of this material please write to us at P.O. Box 981064, El Paso, TX 79998-1064. There will be no charge for a paper copy of this material.

6. Communications in Writing.
All Communications in either electronic or paper format from us to you will be considered "in writing." You should print or download a copy of this Consent to Electronic Communication, the Agreement, the Privacy Policy, your application and any other Communication that is important to you for your records.

7. Electronic Signatures.
You acknowledge that by clicking on the "I Agree" or similar button at the credit application, you are indicating your intent to sign the relevant document or record and that this shall constitute your signature.

8. Federal Law.
You acknowledge and agree that your consent to electronic Communications is being provided in connection with a transaction affecting interstate commerce that is subject to the federal Electronic Signatures in Global and National Commerce Act, and that you and we both intend that the Act apply to the fullest extent possible to validate our ability to conduct business with you by electronic means.

INITIAL DISCLOSURE STATEMENT

The following is an initial disclosure statement. A complete credit agreement (“Agreement”) governing your PayPal Pay Later credit card will be sent to you with your credit card. The PayPal Pay Later credit card is issued by GE Money Bank (“Bank”). In this disclosure statement, the PayPal Pay Later credit card may be referred to as a “Transaction Credit Account”. “We”, “us”, and “our” refer to the Bank; and “you” and “your” refer to all persons who we approve to use the PayPal Pay Later Account. You may use your PayPal Pay Later credit card to fund your PayPal Account (“PayPal Account”) that you have established with PayPal, Inc. for payments for goods and services purchased by you with your PayPal Account (collectively “Purchases”). We will evaluate each new Purchase for authorization based on your creditworthiness, account performance and other risk factors. We may decline to authorize any Purchase at any time. If your application is approved and you make an initial Purchase, you must wait at least 24 hours before making subsequent Purchases.

FINANCE CHARGES
A. The Finance Charge for a billing period is calculated by applying the Periodic Rate to the PayPal Pay Later Account balance subject to Finance Charge for each day in the billing period and adding together all of those daily Finance Charge amounts for the billing period. There is a minimum FINANCE CHARGE of $1.00 USD for a billing period in which a Finance Charge is assessed.
B. The Periodic Rate for your PayPal Pay Later Account is the Standard Rate, unless the Delinquency Rate applies as described below. The Standard Rate for a billing period is the greater of (i) the Prime Rate plus 15.5%, times 1/365, or (ii) 0.06781% (ANNUAL PERCENTAGE RATE 24.75%). The "Prime Rate" for a billing period is the highest bank prime loan rate as published in The Wall Street Journal in its Money Rates section on the last business day of the calendar month preceding the first day of the billing period. As of 8/1/2008, the Standard Rate was 0.05699% (APR 20.80%).
C. If you do not make your required Minimum Payment by the Payment Due Date two times in any six consecutive billing periods, the next Statement you receive will reflect the Delinquency Rate (rather than the Standard Rate) that will apply to all existing balances on your PayPal Pay Later Account and all new transactions beginning with the first day of the billing period reflected on that Statement. The Delinquency Rate is the greater of (i) the Prime Rate plus 19.5%, times 1/365, or (ii) 0.00000% (APR 0.00%) and will apply to the entire PayPal Pay Later Account balance. As of 8/1/2008, the Delinquency Rate was 0.06781 % (APR 24.75%). Once the Delinquency Rate applies, if you make any required Minimum Payment by the Payment Due Date in six consecutive billing periods, the next Statement you receive will reflect the Standard Rate (rather than the Delinquency Rate) that will apply to all existing balances on your PayPal Pay Later Account and all new transactions beginning with the first day of the billing period reflected on that Statement.
D.The Periodic Rate and corresponding Annual Percentage Rate may vary. If the Prime Rate increases, the Periodic Rate and corresponding Annual Percentage Rate may increase, and as a result the Finance Charge, Minimum Payment and number of payments also may increase. Any change in the Periodic Rate will apply to your entire PayPal Pay Later Account balance. We may select a new interest rate index if the Prime Rate is not available.
BALANCE SUBJECT TO PERIODIC FINANCE CHARGE.
A.The balance subject to Finance Charge is the Daily Balance of the PayPal Pay Later Account. However, there is no balance subject to Finance Charge for a billing period if there is no Previous Balance on your PayPal Pay Later Account for that billing period or the sum of your payments and credits on your PayPal Pay Later Account during the billing period is at least equal to the Previous Balance.
B.To determine the PayPal Pay Later Account balance subject to Finance Charge, we take the beginning balance of your PayPal Pay Later Account each day, which includes any unpaid Finance Charges, and add any new Purchases and other debits for that day and subtract any payments and other credits applied that day. Each day we also add any Finance Charges, Late Payment Fees and Returned Check Fees assessed that day. Any debt cancellation fees are not included. This gives us the "Daily Balance" of the PayPal Pay Later Account. Any Daily Balance of less than zero will be treated as zero.
C. The Cash Advance Balance subject to a periodic Finance Charge is the Cash Advance Daily Balance of the Account. To determine the Cash Advance Balance subject to a periodic Finance Charge, we take the prior day's Cash Advance Balance of your Account, which includes any unpaid periodic Finance Charges on your Cash Advance Balance, and add any new Cash Advances, Transaction Fees for Cash Advances and periodic Finance Charges on your Cash Advance Balance for that day and subtract any payments and other credits applied to your Cash Advance Balance that day. This gives us the "Cash Advance Daily Balance" of the Account. Any Cash Advance Daily Balance of less than zero will be treated as zero.

WHEN FINANCE CHARGES BEGIN TO ACCRUE
If there is no Previous Balance for the billing period or the sum of your payments and credits for the billing period is at least equal to the Previous Balance, new Purchases and other charges in that billing period will begin to accrue a Finance Charge as of the first day of the next billing period if a Finance Charge is imposed in the next billing period. If there is a Previous Balance for the billing period, including any balance of Purchases made under any Special Payment Plan, and the sum of your payments and credits for the billing period is not at least equal to that Previous Balance, new Purchases and other charges in that billing period will begin to accrue a Finance Charge from the later of the date of the transaction or the first day of the billing period in which the transaction is posted to your PayPal Pay Later Account.PAYMENTS
A.You must pay at least the Minimum Payment on your Statement by the Payment Due Date shown on the Statement. You may pay more than the Minimum Payment at any time. If you have a balance subject to finance charge, earlier payment may reduce the amount of finance charges you will pay. The Minimum Payment initially will be the greater of: $10.00 USD or 1/24th of the New Balance shown on your Statement. Your Payment Due Date may vary from month to month and the length of time you have to pay may be longer or shorter from month to month. Please check the Payment Due Date on your Statement carefully each month to ensure timely payment. However, if during any four month period immediately following a billing period in which a late fee is assessed, you pay at least the Minimum Payment each month but the total of your payments does not at least equal the sum of the finance charges billed on your Statement each month, plus 1% of your New Balance each month, plus the particular late fee that was assessed in the billing period before the four month period, your Minimum Payment will be changed for future months to the greatest of $10, 1/24th of your New Balance, or the sum of 1% of your New Balance plus finance charges and/or late fees billed on your Statement. In each case, your Minimum Payment (1) is the New Balance if the New Balance is less than $10, (2) will be rounded to the next highest dollar, and (3) also will include any past due amounts and any payment due in connection with a specific promotional purchase.
B.We reserve the right to select the method by which payments and credits are allocated to your Account in our sole discretion. The payment allocation method that we use may result in higher Finance Charges on your Account, depending on the types of transactions you make (such as promotional or non-promotional purchases), and the timing and amount of your payments. If you have questions about our allocation of your payments, or if your payments are not allocated to your promotional purchase in a manner you desire, please call customer service to see whether we can reallocate your payments based on another payment allocation option we offer.

FEES You agree to pay the following fees
A.Late Payment Fee, if we have not received your Minimum Payment by the Payment Due Date shown on your Statement. The amount of the Late Payment Fee will be based on your New Balance at the time your delinquent minimum payment was calculated. The Late Payment Fee will be $15.00 USD for a New Balance under $50.00 USD; $20.00 USD for a New Balance of $50.00 USD to $99.99 USD; $25.00 USD for a New Balance of $100.00 USD to $299.99 USD; $29.00 USD for a New Balance of $300.00 USD to $999.99 USD; and $35.00 USD for a New Balance of $1,000.00 USD or more.
B.A Returned Check Fee of $29.00 USD if any check or other instrument sent to us, or any electronic payment authorization you provide us in payment on your PayPal Pay Later Account, is not honored upon first presentment, even if the check, instrument or electronic authorization is later honored.

CHANGE IN TERMS. We may, at any time and subject to applicable law, change, add or delete provisions of the Agreement (“Terms Change”) or terminate your PayPal Pay Later Account. Unless prohibited by applicable law, we may apply any Terms Change to any outstanding or future balances of your PayPal Pay Later Account.

ARBITRATION. The Agreement contains an arbitrationprovision that may substantially limit your rights in the event of a dispute, including your right to litigate in court or have a jury trial, discovery and appeal rights, and the right to participate as a representative or member of a class action. You have a right to reject the arbitration provision, by following the instructions in the arbitration provision. If you reject arbitration, it will have no effect on any other terms of the Agreement.

WISCONSIN RESIDENTS: No provision of a marital property agreement, a unilateral statement under sec. 766.59, Wis. Stats., or a court decree under sec 766.70, Wis. Stats., adversely affects the interest of the creditor unless the creditor, prior to the time credit is granted, is furnished a copy of the agreement, statement or decree or has actual knowledge of the adverse provision when the obligation to the creditor is incurred. Residents of Wisconsin applying for an individual account must give us the name and address of their spouse, regardless of whether the spouse may use the card. Please provide this information to us at P.O. Box 981064, El Paso, TX 79998-1064.

YOUR BILLING RIGHTS KEEP 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 wrong, or if you need more information about a transaction on your bill, write us on a separate sheet at the address shown on your Statement under billing inquiries. 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 appeared. You can telephone us, but doing so will not preserve your rights.
In your letter, give us the following information:

• Your name and credit card 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. We can continue to bill you for the amount you question, including finance charges, and 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 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 tell anyone we report you to 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 of the questioned amount, even if your bill was correct.

Special Rule for Credit Card Purchases
If you have a problem with the quality of property or services that you purchased with a credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the property or services. There are two limitations on this right:

• (a)You must have made the purchase in your home state or, if not within your home state, within 100 miles of your current mailing address; and
• (b)The purchase price must have been more than $50. These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement for the property or services.

Contacting PayPal, Inc. or filing a claim through the PayPal, Inc. Transactional Protection Program or any other PayPal, Inc. dispute resolution process will not result in an inquiry being placed with us regarding your credit card account.

PRIVACY POLICY

This Privacy Policy describes our information collection and sharing practices of GE Money Bank (“we” or “us”). Please read carefully. This Policy applies only to current and former customers and applicants in their relationships with us relating to our PayPal Pay Later (“PayPal Pay Later Account”) and does not apply to any other credit accounts you may have with us or to your PayPal Account.

Information We Collect - We collect personally identifiable information about you (such as your address, phone number, social security number, mother’s maiden name and transaction information about items purchased, payments and payment method), for identification, account management, servicing and marketing purposes. We obtain information about you directly from you (such as on application forms), through your use of our products and services, and in some cases, from third parties (such as credit bureaus and demographic firms). Occasionally, we may also collect information about you online using “cookies” (small pieces of data stored by your Internet browser on your computer) or other technology that may be used to remember passwords for you, to track your website usage with us, and to provide you with customized content, among other things.

Information We Share with Others - We may use and share all of the information we collect, subject to applicable law, with the following (these examples are not intended to be all-inclusive):

• PayPal, Inc. and its Affiliates, for use in connection with the PayPal Pay Later programs and as otherwise permitted by law. They may use this information to update their records, to provide you with notices of special promotions and other tailored offerings, to answer questions about your PayPal Pay Later Account and perform other PayPal Pay Later program functions or for other purposes permitted by law. They may use their affiliates, licensees, or third party service providers (such as modeling and database companies) to assist them in any of these activities.
• Service Providers, (including our affiliates) to assist us in servicing PayPal Pay Later Accounts, like preparing billing statements and promotional materials, and responding to customer inquiries. We also may use marketing firms, such as modeling companies, to assist us in our own marketing efforts. We also provide information to merchants who accept the PayPal Pay Later Account, for purposes such as authorizing and processing transactions.
• Financial Institutions with Whom We Jointly Offer Financial Products, such as loan products or credit insurance. If your billing address is in Vermont, this information will be limited to your name and contact information, and transaction and experience information on your PayPal Pay Later Account.
• Our Affiliates, Who are Other Companies in the General Electric Company Corporate Family (“GE Family”),for servicing or marketing purposes, subject to your right to opt out of sharing of credit eligibility information, such as certain information from credit bureaus and your application, as provided in the It’s Your Choice section below. And, subject to your right to opt out, our affiliates also may use information from us concerning your credit eligibility, and your transactions and experience with us, to send you marketing solicitations about products and services.
• Third Parties, Who are Interested in Offering Special Products or Services to You, subject to your right to opt out as provided in the It’s Your Choice section. For example, we may disclose information to financial services providers offering products such as insurance, mortgages or loans, and nonfinancial companies offering consumer products and services. We may disclose name, address and telephone numbers, as well as PayPal Pay Later Account purchase and performance history.
• Others:We report PayPal Pay Later Account information, such as balances and payment information, to credit bureaus. In addition, we may buy and sell assets, lines of business and/or PayPal Pay Later Accounts. When this occurs, customer information generally is disclosed to bidders and is one of the transferred business assets. We also disclose information about you to third parties in certain other circumstances, as permitted by law.

Our Security Procedures - We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard nonpublic personal information about you. We limit access to personal and PayPal Pay Later Account information to those employees and agents who assist us in providing products and services to you. We also require third parties to whom we disclose nonpublic personal information to adhere to this Privacy Policy and to establish information security procedures.

Your Access to Information - We provide you access to information about your PayPal Pay Later Account by providing you with monthly billing statements outlining your transactions, finance charges, and other PayPal Pay Later Account information, and by providing customer service representatives to answer your questions.

How This Policy Applies to You - The examples contained in this Privacy Policy are illustrations only, and are not intended to be all-inclusive. If you decide to close your PayPal Pay Later Account or become an inactive customer, or if we close or suspend your PayPal Pay Later Account, we will continue to adhere to the privacy policies and practices described in this notice to the extent we retain information about you. We may amend this Privacy Policy at any time, and we will inform you of changes as required by law. You may have other privacy protections under state laws and we will comply with applicable state laws when we disclose information about you. This Privacy Policy applies only to the consumer PayPal Pay Later of GE Money Bank and does not apply to any other credit accounts you may have with us, and replaces our previous disclosures to you about our information practices relating to your PayPal Pay Later Account.

It's Your Choice - You have the right to opt out of our sharing of information with certain third parties, as described below. To opt out please call us toll-free at 1-866-571-3013, or write to us at P.O. Box 981400, El Paso, TX 79998-1400. If you have previously informed us of your preference, you do not need to do so again.

Please do not share information about me with companies outside the GE Family, other than with PayPal, Inc. and its affiliates for use in connection with PayPal Plus Credit Card and PayPal Pay Later programs and as otherwise permitted by law. Please do not share with companies within the GE Family information you use to determine my eligibility for credit. And please do not allow companies within the GE Family to solicit me for products and services based on transaction, experience or credit eligibility information they receive from you.

Important Notes About Your Choice

• Please understand that, even if you opt out as described above, we will continue to share information with PayPal, Inc. and its affiliates, joint marketing partners and service providers as described in this policy, and as otherwise permitted by law. And we will continue to share information that identifies you, and about your transactions and experiences with us, with companies within the GE Family.
• We will process your request promptly. However, it may take us several weeks to ensure that all records are updated with your preference. In the interim, you may continue to be included in programs as described above. Also, after your request is processed, you may still be contacted by our affiliates and/or other companies based on their own information.
• Even if you opt out, we will continue to provide you with billing inserts and mail notices of special offers and new benefits.
• Vermont Residents: If (and while) your billing address is in Vermont, we will treat your Credit Card Account as if you had exercised the opt-out choice described above and you do not need to contact us in order to opt out. If you move from Vermont and you wish to restrict us from sharing information about you as provided in this Policy, you must then contact us to exercise the opt-out choice described above.