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You can opt out of this issuer's forced arbitration
deadline ≈ 60 days
First Bank & Trust's agreement lets you reject arbitration and keep your right to sue — usually within 60 days of opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…INCLUDES AN ARBITRATION PROVISION WHICH WILL APPLY TO YOU UNLESS (1) YOU ARE A COVERED BORROWER UNDER THE MILITARY LENDING ACT, OR (2) YOU REJECT THE ARBITRATION PROVISION. IF APPLICABLE, THE ARBITRATION PROVISION WILL SIGNIFICANTLY AFFECT YOUR RIGHTS IF A DISPUTE ARISES BETWEEN YOU AND US. FOR EXAMPLE, YOU WILL NOT BE ABLE TO BRING OR PARTICIPATE IN A CLASS ACTION RELATING TO MATTERS ARISING UNDER THIS AGREEMENT AND YOU WAIVE YOUR RIGHT TO A JURY TRIAL. U.S. VIRGIN ISLANDS RESIDENTS PLEASE READ THIS: The provisions titled Permitted Uses, Changes in Terms, Payment Instructions, Assignment of Account, Arbitration and Billing Rights Notice restrict or reduce your rights. MILITARY LENDING ACT DISCLOSURE: Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a membe…”
“…vision carefully, as it will have a substantial impact on how legal claims you and we have against each are resolved. You have the right to opt-out of (not be bound by) this Arbitration Provision as described below. If you do not do so: (a) You are waiving your right to have a jury or a court, other than a small-claims court or similar court of limited jurisdiction, resolve any claim that is subject to arbitration; and (b) You are waiving your right to serve as a representative, as a private attorney general, or in any other representative capacity, and/or to participate as a member of a class of claimants, in court or in arbitration with respect to any claim that is subject to arbitration. THEREFORE, YOU ACKNOWLEDGE AND AGREE AS FOLLOWS: ARBITRATION PROVISION. This Arbitration Provision does not apply to you if, as of the date of this Agreement, you are a member of the Armed Forces or a…”
“…ARE A MEMBER OR A DEPENDENT OF A MEMBER OF THE MILITARY ARMED FORCES ON THE DAY YOU ENTERED INTO THIS AGREEMENT OR (2) YOU ACT PROMPTLY TO REJECT THE ARBITRATION CLAUSE, IT WILL HAVE A SUBSTANTIAL EFFECT ON YOUR RIGHTS IN THE EVENT OF A DISPUTE. Terms used in this Agreement We, us, and our means First Bank & Trust, Brookings, South Dakota. You and your mean the person who applied for this Account and for whom we opened the Account. You and your also mean anyone who agrees to pay for this Account. Account means your ignite Credit Card account. Agreement means each of Part 1 and Part 2, and any supplements or amendments, which together govern your Account with us. APR or the Annual Percentage Rate is an annualized rate used to calculate interest on balances on your Account. Balance Transfer is a use of your Account to pay an amount you owe on another credit card, or personal loan account.…”
Detected in the CFPB-filed cardholder agreements from First Bank & Trust. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.
Forced arbitration
You give up your right to sue in court — disputes are pushed into private arbitration.
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“…Agreement. Please read this Agreement, including the Pricing Schedule, and keep them for your records. ARBITRATION NOTICE: THIS AGREEMENT INCLUDES AN ARBITRATION PROVISION WHICH WILL APPLY TO YOU UNLESS (1) YOU ARE A COVERED BORROWER UNDER THE MILITARY LENDING ACT, OR (2) YOU REJECT THE ARBITRATION PROVISION. IF APPLICA…”
“…e & Barrel Visa Signature?? / CB2 Visa Signature?? Credit Card, powered by Imprint! Please read all parts of this Cardholder Agreement, including the arbitration provision, and keep it for your records. Your card account ( Account ) is issued by First Bank & Trust, a state-chartered bank headquartered in Brookings, Sout…”
“…ates and Fees Supplement (Part 2 of 2). Please read the Agreement carefully and save it for future reference. SECTION 8 OF THIS AGREEMENT CONTAINS AN ARBITRATION PROVISION. UNLESS (1) YOU ARE A MEMBER OR A DEPENDENT OF A MEMBER OF THE MILITARY ARMED FORCES ON THE DAY YOU ENTERED INTO THIS AGREEMENT OR (2) YOU ACT PROMPT…”
You can't band together with other cardholders in a class action.
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“…OVISION. IF APPLICABLE, THE ARBITRATION PROVISION WILL SIGNIFICANTLY AFFECT YOUR RIGHTS IF A DISPUTE ARISES BETWEEN YOU AND US. FOR EXAMPLE, YOU WILL NOT BE ABLE TO BRING OR PARTICIPATE IN A CLASS ACTION RELATING TO MATTERS ARISING UNDER THIS AGREEMENT AND YOU WAIVE YOUR RIGHT TO A JURY TRIAL. U.S. VIRGIN ISLANDS RESIDENTS PLEASE READ THIS: The…”
“…e ask you to verify your Account information and you cannot, we may suspend or close your Account. 11. DISPUTE RESOLUTION, AGREEMENT TO ARBITRATE AND CLASS ACTION WAIVER Please read this Arbitration Provision carefully, as it will have a substantial impact on how legal claims you and we have against each are resolved.…”
“…N BY ANY PARTY, NEITHER YOU NOR WE WILL HAVE THE RIGHT TO HAVE A CLAIM HEARD IN COURT OR HAVE A JURY TRIAL ON THE CLAIM. IN ADDITION, YOU AND WE WILL NOT HAVE THE RIGHT TO PARTICIPATE IN A CLASS ACTION AS A REPRESENTATIVE OR MEMBER OF A CLASS. ARBITRATION PROCEDURES ARE GENERALLY SIMPLER THAN THE RULES THAT APPLY IN COURT, AND DISCOVERY IS MO…”
You waive your right to have a dispute heard by a jury.
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“…WEEN YOU AND US. FOR EXAMPLE, YOU WILL NOT BE ABLE TO BRING OR PARTICIPATE IN A CLASS ACTION RELATING TO MATTERS ARISING UNDER THIS AGREEMENT AND YOU WAIVE YOUR RIGHT TO A JURY TRIAL. U.S. VIRGIN ISLANDS RESIDENTS PLEASE READ THIS: The provisions titled Permitted Uses, Changes in Terms, Payment Instructions, Assignment of Ac…”
“…each are resolved. You have the right to opt-out of (not be bound by) this Arbitration Provision as described below. If you do not do so: (a) You are waiving your right to have a jury or a court, other than a small-claims court or similar court of limited jurisdiction, resolve any claim that is subject to arbitration; and (b) You a…”
“…u use the Account. You also accept this Agreement if you do not cancel the Account within 45 days of the Account open date. This Agreement contains a Jury Trial Waiver and Arbitration Clause. Please read that section carefully because it will have a substantial effect on your rights, including your right to bring…”
“No interest if paid in full” — miss the deadline and you're billed interest back to day one.
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“…gain grace after paying your New Balance in full by the payment due date shown on your billing statement for two (2) consecutive statement cycles. 3. DEFERRED INTEREST FINANCING PLANS Certain qualifying on-merchant purchases may be eligible for special financing with deferred interest ("Deferred Interest Plan"). Int…”
“…motional o er will modify and become part of this Agreement and all other terms and conditions of this Agreement will apply to such promotional o er. Deferred Interest Promotion: Under a Deferred Interest Promotion, no interest charges will be imposed on your Purchase if you pay off that Purchase in full before the…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…on: The Arbitration Provision set forth in this Agreement does not apply to you if, as of the date of this Agreement, you are a Covered Borrower. 13. AMENDMENT We may change the terms of this Agreement for any reason and at any time, subject to applicable law. This includes changes to APRs and fees that apply to your Account, and adding, replacing, or deleting terms of this Agree…”
Slip up and your rate can jump to a much higher penalty APR.
Jumps to ~36%
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“…that, your APR will vary with the market based on the Prime Rate. Cash Advance APR 36.00% This APR will vary with the market based on the Prime Rate Penalty APR and When It Applies The penalty APR for all transactions is 36.00%. This APR will vary with the market based on the Prime Rate. This APR will be appl…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…AGREEMENT INCLUDES AN ARBITRATION PROVISION WHICH WILL APPLY TO YOU UNLESS (1) YOU ARE A COVERED BORROWER UNDER THE MILITARY LENDING ACT, OR (2) YOU REJECT THE ARBITRATION PROVISION. IF APPLICABLE, THE ARBITRATION PROVISION WILL SIGNIFICANTLY AFFECT YOUR RIGHTS IF A DISPUTE ARISES BETWEEN YOU AND US. FOR EXAMPLE, YOU…”
“…ration Provision carefully, as it will have a substantial impact on how legal claims you and we have against each are resolved. You have the right to opt-out of (not be bound by) this Arbitration Provision as described below. If you do not do so: (a) You are waiving your right to have a jury or a court, other than a small-claims court or si…”
“…SS (1) YOU ARE A MEMBER OR A DEPENDENT OF A MEMBER OF THE MILITARY ARMED FORCES ON THE DAY YOU ENTERED INTO THIS AGREEMENT OR (2) YOU ACT PROMPTLY TO REJECT THE ARBITRATION CLAUSE, IT WILL HAVE A SUBSTANTIAL EFFECT ON YOUR RIGHTS IN THE EVENT OF A DISPUTE. Terms used in this Agreement We, us, and our means First Bank…”