Earnest Card Cardholder Agreement, Powered by Deserve®

March 2021

Earnest Card Cardholder Agreement for Cards issued by Celtic Bank, Powered by Deserve®

This Earnest Card Cardholder Agreement (“Cardholder Agreement”), Powered by Deserve®, outlines the terms and conditions under which the Earnest Card, Powered by Deserve®, (the “Card”) is issued to you by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC (“us,” “we,” “our,” or the like). Please review this in detail to be sure you understand all of the terms and conditions with using this digital and/or physical Card.
There are three main parts to this Cardholder Agreement: Pricing Information, Customer Agreement, and Your Billing Rights. The Pricing Information shows the primary pricing terms for this Card for new accounts available under this Agreement. The Customer Agreement contains important information related to how we will administer the credit card program. Plus, any other disclosures or notices that are referenced or issued are part of this Agreement. Your Billing Rights summarizes certain rights provided to you by law that are related to billing on your Card account (“Account”).





Annual Percentage Rate (APR) for Purchases 15.99% (Prime + 12.74%), 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 N/A (Balance Transfers are not available)
APR for Cash Advances N/A (Cash Advances are not available)
How to Avoid Paying Interest Your due date is at least 23 days after the close of each billing cycle. We will not charge you any 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 $1.00.
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 Consumer Financial Protection Bureau’s website at http://www.consumerfinance.gov/learnmore
Annual Fee None
Transaction Fees

  • Balance Transfer
  • Cash Advance
  • Foreign Transactions

  • N/A (Balance Transfers are not available)
  • N/A (Cash Advances are not available)
  • None
Penalty Fees

  • Late Payment
  • Over-the-Credit Limit
  • Returned Payment

  • Up to $25
  • None
  • Up to $37


How We Will Calculate Your Balance: We use a method called Average Daily Balance (including new purchases). See Customer Agreement for details.

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


Welcome to the Earnest Card by Celtic Bank, Powered by Deserve®!

Thank you for opening a credit Card Account with us. This Customer Agreement (“Agreement”) contains the terms for your Card.


Some Definitions.

The meanings of the terms you see in italics appear in the Glossary Section. We also have links to certain terms and definitions.

To make the Agreement easy to understand, we will also use the following personal pronouns “You,” “your,” and “yourself” mean each applicant for the Account; any person responsible for paying the Account; and anyone You authorize to use, access or service the Account.
“We,” “us,” “our,” “Celtic Bank” means Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC; and its agents, authorized representatives, successors, and assignees. All Deserve cards are issued by Celtic Bank.

Things You Should Know About This Card

How are the Balance and Interest Charges calculated?

We use the Average Daily Balance Method (Including Current Transactions).
We figure the interest charge on your Account by applying the periodic rate to the “average daily balance” of your Account. To get the “average daily balance” we take the beginning balance of your Account each day, add any new purchases/fees, and subtract any unpaid interest or other finance charges and any payments or credits. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide the total by the number of days in the billing cycle. This gives us the “average daily balance.”


How is your Variable APR Calculated?

  • Your variable Annual Percentage Rate (APR) is calculated by adding a margin (currently 12.74%) to the Prime Rate.
  • We use the Prime Rate from the rates section of the Wall Street Journal, published two business days before the end of the Billing Cycle.

Your Daily Periodic Rate (DPR) is 1/365th of the corresponding APR.
If the Wall Street Journal does not publish a rate on that day, we will use the Prime Rate for the previous business day. If the Wall Street Journal is no longer published, we may use the Prime Rate from any other newspaper. Or, we may choose to use a different, similar published rate.

If the Prime Rate increases, Variable APRs will increase. In that case, you may pay more interest and may have a higher payment or balance due. When the Prime Rate changes, the resulting changes to Variable APRs take effect as of the first day of the next Billing Cycle.


How can I avoid paying Interest Charges?

If you pay your statement’s “New Balance” in full by the due date, we will not charge interest on any new transactions that post to the Purchase balance. If you have been paying your account in full with no interest charges, but then you do not pay your next “New Balance” in full, we will charge interest on the portion of the balance that you did not pay.


How is the Interest Charge applied?

Interest charges accrue from the 1) date of the transaction, 2) date the transaction is processed, or 3) first calendar day of the billing period. Interest charges accrue on every unpaid amount until it is paid in full. This means you may owe interest charges even if you pay the entire “New Balance” one month, but did not do so for the previous month. Unpaid interest charges are added to the proper segment of your account. However, we reserve the right to not assess interest charges at any time.


Can You Change My Account Terms?

Although we don’t plan to, we can change some terms of your account as permitted by law. If we do change any of the terms in this Cardholder Agreement, we will send you notice before doing so. Please review this Cardholder Agreement in full to be sure you understand the current terms for your Card.

Your APR, daily periodic rate, and interest charges will change if the Prime Rate changes.


Account Documents.

Your Account with us is governed by the following documents:

  • this document;
  • all Statements;
  • any Privacy Notices describing our limitations on sharing information about you with others;
  • any Card benefits brochure which describes benefits provided by the Payment Card Network for your Card and Account. The most current version of your Card benefits brochure will replace all prior versions;
  • all disclosures and materials provided to you before or when you opened your Account, including Truth in Lending Disclosures;
  • all other documents and disclosures relating to your Account including those provided online; and
  • any future changes we make to any of the above documents.


Please read these carefully and keep them for future reference. An image of any of these can be used instead of the original.


New Offers.

In the future, we may make new offers to you or forward offers from others that we think you might be interested in. These offers may have different terms and documentation which will be provided when we make you the offer. If you accept the offer, all previously disclosed terms will still apply except as modified by the offer.

For more information about what we and our service providers may share and how to opt out, please review the Privacy Notice. You can see how we and our service providers collect, use and store your data in our Privacy Policy.


Consent to Electronic Documents.

Consent to Electronic Documents.
We are committed to offering services to You in a convenient, controlled, and secure manner. Therefore, the online Card application and approval process has been designed around the expectation that all documents and information required to be provided to You will be provided electronically. We may still deliver paper documents and if we do so, we are not waiving any of these rights. By proceeding with the online application or activating your Card, you agree to the terms detailed in our Electronic Consent Policy, found at www.deserve.com/electronic-consent-policy, as amended from time to time. Please review this Policy to ensure you understand and agree with all of the terms; while we have summarized our terms and conditions here, the Electronic Consent Policy details all of Your and Our rights and obligations.
If at any time after you submit the application you change your mind and wish to no longer receive documents and information electronically, please notify us as detailed in the Electronic Consent Policy. Understand that this may result in an adverse decision on your Application.


Account Information.

We need information about you to manage your Account. The information we need may include:

  • your legal name;
  • a valid U.S. mailing address and residential address (if different);
  • your date of birth;
  • your Social Security Number, Passport Number, and/or other government identification number, if available;
  • your telephone number(s);
  • your employment, income, and asset information;
  • your educational history and information;
  • your citizenship status and information; and
  • other related information as deemed necessary.


You must tell us when this information changes. Please update your address in the manner provided on your Statement. You may also update some of this information by logging onto your Account on our website or by calling one of our representatives at the telephone number provided on your Statement or on the back of your Card. We may require you to provide additional documents that are acceptable to us to verify this information or any changes. We maintain the right to restrict or close your Account if your information cannot be verified or if you do not provide additional information as requested.

You also give us permission to verify or research, with a third party, the information you provide to us. This permission includes, without limitation, verifying or researching your information with LexisNexis (or similar), United States Department of Homeland Security, and the United States Department of the Treasury.


Credit Limit.

When you open your Account, you will receive your credit limit. This will also appear on your Statements. We might also refer to your credit limit as your credit line.
You are responsible for keeping track of your Account balances and your available credit limit. Do not allow your Account to go over any credit limit, as the transaction could be declined or your credit score could be adversely affected. We may still honor transactions above your credit limit, but our honoring of these transactions will not increase your credit limit. We may also increase, decrease, restrict, or cancel your credit limit at any time. This will not affect your obligation to pay us.


Using Your Account.

You promise to follow the terms of this Agreement as long as your Account remains open or has a balance. Please sign the Card immediately when you receive it. The Card is valid during the dates provided on the front. The Card is our property, and you will return it to us or destroy it if we ask. You will take reasonable steps to prevent the unauthorized use of your Card and Account.

We are not responsible if anyone refuses to accept your Card for any reason. Also, we may reject any transaction for any reason. Unless we tell you otherwise, we will bill each transaction to the applicable Segment of your Account and apply it against your available credit limit for the Account and Card for that Segment in each Billing Cycle.
You must not use, or try to use the Card for any Internet gambling transactions or transactions that are illegal or not permitted by us. You will still be responsible or such transactions if you do. In addition, these transactions will be subject to this Agreement, and you might have to reimburse the Payment Card Network and us for all damages and expenses.

From time to time, due to circumstances beyond our control (such as system failures, fires, floods, natural disasters, or other unpredictable events) our services might be unavailable. When this happens, you might be unable to use your Card or obtain information about your Account. We will not be responsible or liable if this happens.


Your Promise to Pay.