IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

We may change APRs, fees, and other Account terms in the future based on your experience with Elan Financial Services and its affiliates as provided under the Cardmember Agreement and applicable law.

We apply your minimum payment to balances with lower APRs first, including promotional APRs. Amounts paid over the minimum payment will be applied in the order of highest to lowest APR balances.

Interest Rates and Interest Charges	BMW Precision World Elite Mastercard®
Annual Percentage Rate (APR) for Purchases	16.74% to 25.74% based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate.
APR for Balance Transfers	16.74% to 25.74% based on your creditworthiness when you open your account. This APR will vary with the market based on the Prime Rate.
APR for Cash Advances	26.49% This APR will vary with the market based on the Prime Rate.
Penalty APR and When it Applies	Not applicable
How to Avoid Paying Interest on Purchases	Your due date is 24 - 30 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire balance by the due date each month.
Minimum Interest Charge	If you are charged interest, the charge will be no less than $2.
For Credit Card Tips from the Consumer Financial Protection Bureau	To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/learnmore
Fees	BMW Precision World Elite Mastercard®
Annual Fee
• Annual Membership Fee	$99
Transaction Fees
• Balance Transfer	Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
• Convenience Check Cash Advance1	Either 3% of the amount of each advance or $5 minimum, whichever is greater.
• Cash Advance ATM	Either 5% of the amount of each advance or $10 minimum, whichever is greater.
• Cash Advance	Either 5% of the amount of each advance or $10 minimum, whichever is greater.
• Cash Equivalent Advance	Either 5% of the amount of each advance or $10 minimum, whichever is greater.
• Overdraft Protection2	None
• Foreign Transaction	None
Penalty Fees
• Late Payment	Up to $40
• Returned Payment	Up to $35
• Overlimit	None

How We Will Calculate Your Balance: We use a method called 'average daily balance (including new purchases)'. See your Cardmember Agreement for more details.

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your Cardmember Agreement.

The information about the costs of the card described in this application is accurate as of 02/2020. This information may have changed after this date. To find out what may have changed, call us at 1-866-845-3079 (we accept relay calls) or write to us at P.O. Box 6354, Fargo, ND 58125-6354.

¹Not all products receive Convenience Checks.

²Not all products offer Overdraft Protection.

How Variable Interest Rates Are Determined: After the introductory period, your interest rate is a variable rate and is determined by a combination of the Prime Rate (which may vary) added to a margin (which does not change). Because the Prime Rate may vary, your variable interest rate will go up or down if the Prime Rate changes. If you are granted an Account, the following rates on the Account are variable: Non-Introductory Purchase Rate; Non-Introductory Balance Transfer Rate; Cash Advance Rate. More information is available in the Cardmember Agreement.

Notice to New York Residents: You may contact the New York State Department of Financial Services by telephone at (800) 342-3736 or visit its website at www.dfs.ny.gov for free information on comparative credit card rates, fees and interest-free periods.

Notice to California Residents: An applicant, if married, may apply for a separate account.

Notice to Married Wisconsin Residents: No provision of any marital property agreement, unilateral statement under section 766.59 of the Wisconsin statutes or court decree under section 766.70, adversely affects our interest unless we, prior to the time the credit is granted or an open-end credit plan is entered into, are furnished a copy of the agreement, decree or court order, or have actual knowledge of the adverse provision. IF YOU ARE A MARRIED WISCONSIN RESIDENT, CREDIT EXTENDED UNDER THIS ACCOUNT WILL BE INCURRED IN THE INTEREST OF YOUR MARRIAGE OR FAMILY.

Notice to Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy 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.

By submitting this application, you understand and agree that Elan Financial Services ("we", "us" or "our"), as the creditor and issuer of your Account, will rely on the information provided here in making this credit decision, and you certify that such information is accurate and complete to the best of your knowledge. If we open an Account based on this application, you will be individually liable (or, for joint accounts, individually and jointly liable) for all authorized charges and for all fees referred to in the most recent Cardmember Agreement, which may be amended from time to time. We may request consumer credit reports about you for evaluating this application and in the future for reviewing Account credit limits, for Account renewal, for servicing and collection purposes, and for other legitimate purposes associated with your Account. Upon your request, we will inform you if a consumer report was requested and, if it was, provide you with the name and address of the consumer reporting agency that furnished the report. By providing us with a telephone number for a cellular phone or other wireless device, including a number that you later convert to a cellular number, you are expressly consenting to receiving communications—including but not limited to prerecorded or artificial voice message calls, text messages, and calls made by an automatic telephone dialing system—from us and our affiliates and agents at that number. This express consent applies to each such telephone number that you provide to us now or in the future and permits such calls for non-marketing purposes. Calls and messages may incur access fees from your cellular provider. By submitting this application, you also agree that we may verify your employment, income, address and all other information provided with other creditors, credit reporting agencies, employers, third parties, and through records maintained by federal and state agencies (including any state motor vehicle department) and waive any rights of confidentiality you may have in that information under applicable law. You agree that, in order to open and administer the Account that may be established as a result of this Application, we and the corresponding company that solicited this Application may share certain information about you and your ongoing Account activity. By submitting this application, you certify that you read and understood the disclosures here and you agree to the terms of this application.

BMW Precision World Elite Mastercard® Rewards Program Rules

(a) Earning Points. You will earn points based on eligible Net Purchases (Net Purchases are purchases minus credits and returns) made with your Account. Elan Financial Services will credit your Account with points as follows:

1. You will earn 5 points for every $1 in eligible Net Purchases during each billing cycle at merchants classified as BMW, including BMW Centers. 
2. You will earn 3 points for every $1 in eligible Net Purchases during each billing cycle at merchants classified as gas stations.  
3. You will earn 2 points for every $1 in eligible Net Purchases during each billing cycle at merchants classified as restaurants. “Restaurants” are defined as Eating Places and Restaurants or Fast Food Restaurants.
4. You will earn 1.5 points for every $1 on all other eligible Net Purchases during each billing cycle.

If credits for returned purchases exceed new purchases in any billing cycle, the excess credits will be carried forward into successive billing cycles and subtracted from future new purchases to determine the Net Purchases for those successive cycles.

Merchants classify their business by selecting a merchant category code established by Mastercard. A purchase will not earn more than one and a half points if the merchant’s selected code is in a category that is not eligible for additional points earning. Elan Financial Services does not determine the category codes that merchants choose and reserves the right to determine which purchases qualify for additional points. Please allow up to sixty (60) days after a purchase for points on that purchase to post to your points balance. Your point balance is available online in the Rewards Center.

Eligible purchases do not include Advances (including wire transfers, travelers checks, money orders, foreign cash transactions, betting transactions, lottery tickets and ATM disbursements), convenience checks, balance transfers, unauthorized or fraudulent charges, overdraft advances, interest charges, fees, credit insurance charges, transactions to fund certain prepaid card products, U.S. Mint purchases, or transactions to purchase cash convertible items. Points will not accumulate for Account transactions that are business-related transactions or activities. Points will accumulate for personal, family, and household purposes only, and we have the right to adjust or reverse the number of points that were awarded or terminate the Account if we determine that purchases or transactions were outside of such use, including, without limitation, excessive or patterned gas purchases or excessive or patterned purchases of cash equivalent instruments, such as gift cards, rewards cards, and other prepaid cards.

Your Account must be open and current (that is, no Minimum Payment is past due) on the closing date for the billing cycle in order to earn points. Subject to credit availability, the number of points that may accumulate in any monthly billing cycle for your Account is unlimited.

(b) Points Expiration. Points will expire at 11:00 p.m. Central Time at the end of the calendar quarter that is five (5) years from the quarter in which they were earned. Points are redeemed or expire on a first-in, first-out basis, so that the points you earned are used first before later earned points.

(c) Transferring Points. You may transfer points you earned to other qualifying BMW Accounts, including MINI & BMW Motorrad Accounts. Please see your Rewards Program Rules for additional information.

(d) Rewards Program Rules. Complete terms and conditions for the Rewards Program (the “Program”), including rules regarding the redemption, expiration, loss or cancellation of points, award thresholds, eligibility, participation, and the right to amend or terminate the Program, are set forth in the BMW Rewards Program Rules (the "Program Rules"). Please review the Program Rules and FAQs by logging in at mybmwcreditcard.com and accessing the Rewards Center. The Program Rules will exclusively govern the rewards terms of the Program and, to the extent the Program Rules conflict with the terms of this Cardmember Agreement or any other materials, the Program Rules will control.

(e) BMW Financial Services (“BMW”). BMW is not a party to this Agreement and has no authority regarding the Account, including with respect to any extension of credit on the Account. BMW is not a creditor or owner of the Account, but you authorize us to share information about you and your Account with BMW.

(f) Elan Financial Services reserves the right to amend or cancel the Program or change the Program benefits at any time with or without notice to you.