SAKS

Initial Credit Limit Your initial credit limit will be communicated to you upon approval. Annual Interest Rate This interest rate is in effect upon approval. Standard rate on purchases: Canadian Prime Rate plus 19% To determine the rate that applies for a billing period, we use the Canadian Prime Rate as published in The Globe and Mail on the last Friday of the month prior to the month in which the billing period begins. Default rate: Your minimum payment for any given billing period is due by the payment due date specified on the monthly statement for that period. If we do not receive your minimum payment by the payment due date 2 times in any 12-month period, your rates will increase to the default rate of 29.9% at the beginning of the next billing period. Then, if we receive at least the minimum payment by the payment due date for 12 consecutive billing periods, your rates will change to the standard rates that apply to your account at that time, starting from the beginning of the next billing period. Interest-Free Grace Period You will benefit from an interest-free grace period of at least 21 days on new purchases if you pay off your new regular balance in full by the payment due date. Determination of Interest Interest is calculated by applying the applicable interest rate to the average daily balance on your account, and is charged at the end of the billing period. Subject to any interest-free grace period that applies, Summary of key terms as of August 1, 2019. SAKSFIRST CREDIT CARD DISCLOSURE STATEMENT

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