Legal Document: CAVALRY SPV I LLC V CODY MYNATT

On January 08, 2024 a COMPLAINT/PETITION FILED was filed involving a dispute between Cavalry Spv I Llc, and Mynatt, Cody Dean, for OC - CONTRACT - OTHER in the District Court of Izard County.

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FILED
1
N MYOFF!C£
JAN O8 2024
COUNry & CIR
BY JOE coocpud~ CLERK
--------.:__o.c.
IN THE CIRCUIT COURT OF IZARD COUNTY, ARKANSAS

CAVALRY SPV I, LLC, AS ASSIGNEE OF CITIBANK, N.A. PLAINTIFF

vs. No. ~:Lv-8J-,! ,_3,
AODY D MYNATT
251 FINLEY CREEK RD
SIDNEY, AR 72577-9113
DEFENDANT

COMPLAINT

Comes the Plaintiff by its Attorneys, The McHughes Law Firm, PLLC, and for its breach

of contract cause of action against the Defendants, states and alleges:

1. The Plaintiff is a foreign corporation authorized to do business in the state of

Arkansas and is registered with the Arkansas Secretary of State. The Plaintiff is the assignee of

the original creditor, Citibank, N.A. , and current owner of the account which was purchased for

good and valuable consideration and is the subject of this lawsuit.

2. Venue of this action is proper in the county named above because the Defendant

is an individual believed to be residing in said County at the time of the commencement of this

suit. The Plaintiffs cause of action is contractual in nature. Therefore, this court has jurisdiction

over the subject matter and the parties hereto.

3. The Defendant accepted and used, or allowed to be used, a credit card issued by

the original creditor. By using and or authorizing the use of the credit card, the Defendant

accepted the contract with the issuer and became bound to pay for all charges incurred with the

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credit card. The Defendant used or allowed to be used the credit card knowing that the issuer

expected to be repaid for all charges incurred with the card, together with interest, fees, late

charges and yearly fees as provided by the terms and conditions of the card. With each use of the

credit card, the issuer paid money on the Defendant's behalf to the merchant with whom credit

was used.

4. The Defendant defaulted on the obligation to make monthly payments on the

credit card. The credit card was subsequently canceled, and the balance of the entire credit card

was charged off the books of the original creditor. The entire balance on the credit card account

is presently due and payable in full, less any credits or payments made to the account.

5. The Plaintiff is entitlr force the obligation and receive payment of the

balance due in the sum of $1 ,679.14, as is shown by the Affidavit of Account attached hereto.

The Plaintiff does not make any request for prejudgment interest.

6. Through the undersigned attorneys, the Plaintiff has demanded payment from the

Defendant, but that Defendant has not satisfied such demand. The Plaintiff has performed all

conditions precedent to the filing of this action, and all such conditions precedent have occurred.

WHEREFORE, the Plaintiff prays for Judgment against the Defendant for:

a) the balance due on the credit card of $1 ,679.14;

b) post-judgment interest awarded pursuant to Ark. Code Ann.§ 16-65-1 14 in the

amount of 2% above the Federal Reserve Primary Credit Rate as determined on

the date of Judgment;

c) reasonable attorney's fees as determined by the court;

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d) all court costs; and

e) all such other just and proper relief to which Plaintiff may be entitled.

Respectfully Submitted:

The McHughes Law Firm, P.L.L.C.
Attorneys at Law
P.O. Box 7599

(501)3~ b(
Little Rock, Arkansas 72217

Becky A. McHughes (03024)
becky@mchugheslaw.com
Christopher D. Anderson (91255)
chris@mchugheslaw.com
Josh Logan (19043)
jlogan@mchugheslaw.com
Our File# 78973

II II II Ill 1111111111111111*
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Contract lD: CV8MUMAA 122922
Addendum ID : CV8MUMAA081723Cl I
Document ID: 08 l 423CV I MU3 IBB I

BILL OF SALE AND ASSIGNMENT
3Q2023 Brands and Costco DSA Bulk Accounts

THIS BILL OF SALE AND ASSIGNMENT dated August 23 , 2023, is by Citibank, N.A. , a
national banking association organ ized under the laws of the United States, located at 5800
South Corporate Place, Sioux Falls, SD 57108 (the "Bank") to Cavalry SPY I, LLC, organized
under the laws of the state of Delaware, with its headquarters/principal place of business at I
American Lane, Suite 220, Greenwich, CT 06831 ("Buyer"). /
For value received and subject to the terms and conditions of the Master Purchase and Sale
Agreement dated December 29, 2022 and Addendum No. 11 dated August 17, 2023, between
Buyer and the Bank as amended, restated, or otherwise modified from time to time (the
"Agreement"), the Bank does hereby transfer, sell, assign, convey, grant, bargain, set over and
deliver to Buyer, and to Buyer's successors and assigns, the Accounts described in Exhibit 1 to the
Addendum and the final electronic file .

Citibank, N.A.

By: g~
(Signature)

Name: Brandy Reardon

Title: Authorized Party

Cavalry 122922
Contract ID: CV8MUMAA 122922
Addendu m ID: CV8MUMAA081723Cl I
Docume nt ID : 081423CV 1MU3 IBA I

Exhibit 1

The individual Accounts transferred are described in the final electronic fil e and delivered by the Bank to
Buyer, the same deemed attached hereto by this reference.

Lot
3Q2023 Brands and Costco DSA Bulk
Sale ID
081423CV1MU 31B

-
# of Accounts Sale Amount Cut-Off Date
8/14/ 2023

Cavalry 122922
Purchase Date:8/23/2023
1279

•oata displayed has been redacted for consumer privacy

.. The data contained in this document was extracted from the electronic records transmitted by the seller
concerning the referenced account
ontract ID : C V8MUMAA 122922
Addendum ID: CV8MUMAA081723Cl I
Document ID: 08 1423CVIMU31BG I

AFFIDAVIT OF SALE OF ACCOUNT

State of Mi souri
County of Platte

Terri Bergman, being duly sworn, deposes and says :

I am an authorized employee of Citibank, N.A. ("CBNA") located at 5800 South Corporate Place,
Sioux Falls, SD 57108, am authorized to make the statements and representations herein and I am
over 18 years of age. In this position, I have access to the creditor' books and records and am
/
aware of the process of the sale of accounts and electronic storage of business records.

On or about August 23, 2023, CBNA sold a pool of charged-off accounts (the Accounts) by a
Master Purchase and Sale Agreement dated December 29, 2022, Bill of Sale, and Addendum
No. I I dated August 17, 2023 to Cavalry SPV I, LLC. As part of the sale of the Accounts, certain
electronic records were transferred on individual accounts to the debt buyer. These records were
kept in the ordinary course of business of creditor.

I am not aware of any errors in the information provided about the Accounts. The above statements
are true to the best of my knowledge.

Signedthis _ --""'lt!C-- - dayof ~ , o{WO.

State of Missouri

County of Platte
) ss
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¾
On this fo day of .Se/> , 20~ before me, the undersigned notary, personally appeared
Terri Bergman , personally known to me to be the person who signed the preceding or
attached document in my presence and who swore or affirmed to me that the contents of the
document are truthful and accurate to the best of his/her knowledge and belief.

_ _ [SEAL]

CAROLYNE. HUGHES
Mot ary Public - Notary Seal
Jackson County • State of Missouri
commission Number 1-492730'4
My Commission Expires Jan 21,, 2026

Cavall)' 122922
Contract ID: CVS MUMAA 122922
Addendum ID: CV8MUMAA08 I 723C 11
Document ID: 081423CVIMU3IBG I

CERTIFICATE OF CONFORMITY

ST ATE O F MISSOURI
CITY OF KANSAS CITY

I, --=~-A'-P,,,,.=..........!~"'P't::,.-t..... an attorney-at-law of the State of Missouri who is licensed to
practice a in the St e of Missouri and is fully acquainted with the laws of the State of Missoun 1/
pertaining to the acknowledgement or proof of deeds of real property to be recorded therein, d
hereby certify that I am duly qualified to make this certificate of confonnity pursuant to Section
299-a of the Real Property Law of the State of New York and hereby certify that the
acknowledgement or proof upon the foregoing document was taken by Carolyn E. Hughes a
notary public in the State of Missouri, in the manner prescribed by the laws of the State of Missouri
and confonns to the laws thereof in all respects.

, IN WITNESS WHEREOF, I have hereunto set my signature, this ~ day of
0~fern/iM., o2aa.:l.

at Law Bar #,.5/~ 7
ce Vogler

2
Cavalry 122922
Card Number:

July 19, 2020

CODY D MYNATT
PO BOX 2330
PHOENIX AZ 85002-2330
CODY D MYNATT
Account ending _
Page 2 of 3

Fact Sheet
Facts about Interest and Fees
/
Interest Rates and Interest Charges
Annual Percentage Rate 22.99%
(APR) for Purchases
This APR will vary with the market based on the Prime Rate.
APR for Cash Advances 25.24%

This APR will vary with the market based on the Prime Rate .
APR for Citi Flex Plan 22.99%

Th is APR will vary with the market based on the Prime Rate.

Penalty APR and When Up to 29.99% , based on your creditworthiness . This APR will vary with the market based
it Applies on the Prime Rate .

This APR may be applied to your account if you:
~ (1) Make a late payment or
..a (2) Make a payment that is returned .
1::-'
ru How Long Will the Penalty APR Apply? If your APRs are increased for either of
D
ru these reasons , the Penalty APR may apply indefinitely.

Paying Interest Your due date is at least 23 days after the close of each billing cycle. We will not charge
you interest on purchases if you pay your monthly Citi Flex Plan Payment Amount plus
your entire balance, excluding any Citi Flex Plan balances, by the due date each month.
If you do not pay your monthly Citi Flex Plan Payment plus your entire balance, excluding
any Citi Flex Plan balances, by the due date each month , you will pay interest on your
purchases from the date they're posted to your account. We will begin charging interest
on cash advances and balance transfers on the transaction date. We will begin charging
interest on a Citi Flex Plan balance at the start of the billing cycle following the billing cycle
during which you created the Citi Flex Plan .
Minimum Interest If you are charged interest, the charge will be no less than 50 cents.
Charge
How We Calcu late Your Daily Balance (including current transactions)
Balance

Fees
Annual Fee None

Transaction Fees
. Ba lance Transfer Either $5 or 3% of the amount of each transfer, whichever is greater.
. Cash Advance Either $10 or 5% of the amount of each cash advance , whichever is greater.
. Foreign Purchase 3% of each purchase transaction in US dollars .
Transaction
Pena lty Fees
. Late Payment None for the first late payment; up to $40 after that.
. Returned Payment Up to $40.
CODY D MYNATT
Account endin g -
Page 3 of 3

Details About Your Interest Rates Periodic Rate as of 07/19/2020 For variable rates :
U .S . Prime Rate Plus

Purchases 0.06299% (D) 19.74%
Cash Advances 0.06915% (D ) 21 .99%
Citi Flex Plan 0.06299% (D ) 19.74%
Penalty 0.08216% (D) Up to 26 .74%
(D) = Daily periodic rate. A dai ly periodic rate is the APR divided by 365.
Variable APRs will not exceed 29 .99%.

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Card Agreement Guide
This Guide will help you easily identify sections of the Card Agreement and give you a brief overview of the contents of each section. This is not intended to
be a complete summary of the Card Agreement's contents, and we encourage you to read your entire Card Agreement, including the arbitration provision,
before you use your Account.

DEFINITIONS ACCOUNT INFORMATION , INFORMATION SHARING AND
Lists the meanings of particular phrases and terms used in the COMMUNICATIONS
Card Agreement. Explains that your personal information we use to manage your
Account should always be up to date. Also notes that we share
information about you and your Account. In addition, this section
YOUR ACCOUNT describes how we may contact you.
Describes some of your responsibilities for using your Account.

TRANSACTIONS
Provides important information about merchant credits, recurring
ANNUAL PERCENTAGE RATES & INTEREST CHARGES Transactions and card refusals.
Shows how we calculate interest rates and how that affects your
Account balance .
ARBITRATION
Explains that you cannot go to court, have a jury trial or initiate or
FEES & FOREIGN CURRENCY CONVERSION
participate in a class action if you have a dispute with us. Instead,
Describes the fees that can be applied to your Account, including
this provision tells you that the dispute must be resolved by a
annual membership fees, late fees, as well as foreign transaction professional arbitrator, not a judge or jury. This section also
fees for Purchases not in U.S. dollars.
.r explains how arbitration works and some of the differences
JI between resolving a dispute in arbitration and resolving one in
1::-' court.
ru PAYMENTS
•.r Shows how your monthly Minimum Payment Due is calculated , tells
you how we apply your payments to balances, and gives you
AGREEMENT & BENEFIT CHANGES
certain instructions for making payments (and tells you the possible
Explains that we can make changes to the Card Agreement and
consequences of not following those instructions).
your card benefits and features.

AUTHORIZED USERS
MISCELLANEOUS
Describes an Authorized User's rights and your responsibility for
Explains subjects that aren't included in previous sections.
that user. Also describes what information we can share about you
and your Authorized User.

YOUR BILLING RIGHTS
DEFAULT, CLOSING OR SUSPENDING YOUR ACCOUNT Explains your billing rights, which include how to address possible
Tells you when we may require immediate payment of your total statement mistakes and your rights if you're not satisfied with a
Account balance, and explains when we may close or suspend your Purchase.
Account, and when you may close your Account.

CREDIT REPORTING
Describes what information we provide about you to credit
reporting agencies, and how to dispute items on your report. This
section also explains how we use information we get about you
from those agencies.
Card Agreement
This Card Agreement (Agreement) is your contract with us.

The Facts about Interest and Fees document (Fact Shee~ is part of this Agreement. The Fact Sheet shows important information about your Account, such as your
annual percentage rates and certain fees. Any amendments to this Agreement also are part of this Agreement.

Please read all parts of this Agreement, including the arbitration provision, and keep it for your records.

Note: Throughout the Agreement are examples, helpful tips, and additional explanations that will make the Agreement easier to
understand.

DEFINITIONS
Account - Your Citi® Double Cash Account.
Cili Flex Pay - Eligible Transactions that you select to be paid under a Citi Flex
Adjusted New Balance - Your New Balance less any Citi Flex Plan balance. Plan.

Annual Percentage Rate (APR) - A rate, shown as a percentage, used to calculate Citi Flex Plan - A feature on your Account to pay Citi Flex Loans or Citi Flex Pay
~ interest on the balance on your Account. amounts in fixed payments over a defined number of Billing Periods subject to a Citi
1:-' Flex Plan APR.
ru Authorized User - Any person you allow to use your Account with a Card we
•ln provided with that person's name. Consumer Reporting Agency - An organization, such as Experian , Equifax and
TransUnion, that compiles credit information for the purpose of generating
Balance Transfer - Use of a Balance Transfer offer, including use of a check that consumer credit reports. It's also known as a "credit bureau" and a "credit reporting
accesses your Account for any transaction, or the transfer of a balance from agency."
another credit account to your Account.
Include and including - These terms mean "include [or including] without
Billing Period - The period of time between each date when we create a statement limitation."
for your Account. A Billing Period is usually 28-33 days. For each Billing Period ,
your statement will show any Transactions, other charges, payments and other Late Payment - A payment is late if you don't pay at least an amount equal to the
credits posted during that Billing Period . Minimum Payment Due minus any Overlimit Amount by the payment due date.
Business Day - Monday through Friday, excluding federa l holidays. New Balance - The total amount you owe us at the end of each Billing Period . This
amount is shown on each statement under the heading "New Balance". We explain
Card - One or more cards or other devices (inclu ding an account number) used to how we calculate the New Balance below.
access your Account to obtain credit.
Overlimit Amount - The amount by which your Account balance exceeds your
Card Networks - Organizations, such as Mastercard , Visa and American Express, credit limit in any Billing Period.
that facilitate the payment process between a cardmember, merchants and a card
issuer. Pu rchase - Use of your Card to buy goods and services. Balance Transfers and
Cash Advance - Use of your Card to get cash , including foreign currency, or for Cash Advances are not Purchases.
what we consider a cash-like transaction. Examples include using your Card for: Returned Payment - A payment that isn't honored by your financial institution.
ATM and teller withdrawals, wire transfers, money orders, traveler's checks, lottery
tickets, gaming chips and other methods used for gambling, wagers and other Transaction - A Balance Transfer, Cash Advance, Purchase or Citi Flex Plan, as
betting transactions. A Citi Flex Loan is not a Cash Advance. applicable.

Citi Flex Loan - Funds provided to you by check or by direct deposit that you select we, us, and our · Citibank, N.A.
to be charged to your Account and repaid under a Citi Flex Plan. Balance Transfers you and your • The cardmember who opened the Account.
and Cash Advances are not Citi Flex Loans.
You'll find definitions of other terms within this Agreement.

2
YOUR ACCOUNT
Your Account use is subject to this Agreement. You must pay us for all amounts Citi Flex Plan. Your ability to create a Citi Flex Plan will depend on the amount of
due on your Accoun~ including: your available credit, creditworthiness, and other factors. We may limit the number
of active Citi Flex Plans you can have and we may change this number at any time.
1. Transactions you make, even if you didn't present your Card or sign for the There are two ways to create a Oti Flex Plan - Citi Flex Pay and Citi Flex Loan.
Transaction;
2. Transactions an Authorized User makes; With Citi Flex Pay, you can pay for eligible Transactions under a Cili Flex Plan. An
eligible Transaction for Citi Flex Pay must be a Purchase of at least a specified
3. Transactions that other people make if you or an Authorized User let them use dollar amount and does not include a Purchase of cash or cash equivalen~ a
your Accoun~ and Purchase subject to Foreign Transaction Fees or any fee owed to us. Other
4. Any fees and interest charges on the Account. exclusions may apply.
Binding Agreement. This Agreement takes effect onc-e you use your Card. Even if With CitJ Flex Loan, you can use your Account's credit line to access funds and
you don't use your Card, this Agreement will take effect unless you contact us to pay such funds under a Citi Flex Plan. You can only create a Citi Flex Loan if you
cancel your Account within 30 days after we sent you this Agreement receive an offer. The offer will tell you the terms, including the APR, that 'MIi apply
Credit Limit. We assign a credit limit to your Account Part of this credit limit may to that Citi Flex Loan.
be available for Cash Advances , and there may be a limit on the amount of Cash Unlawful Transactions. You aren\ permitted to use your Account for unlawful
Advances you can take in a given period. We may authorize Transactions that Transactions. If you do use your Account for unlawful Transactions, this Agreement
cause your balance to exceed your credit limit. stiUapplies and you must pay us for those Transactions. You also may have to pay
ACCOUNT USE the Card Network and/or us for any damages and expenses resulting from that use.
Consumer Purposes. You aren\ permitted to use your Account for business In addition, we may close your Account
~ purposes. If you do use your Account for business purposes, this Agreement still Mobile Phones or Other Devices. Smart phones, tablets and other electronic
I:-' applies, and you must pay us for those Transactions. You may also have to pay us
devices can store your Card (such as through a mobile wallet). This means they
~ for any damages and/or expenses resulting from that use. In addition, we may can be used to make Purchases or other Transactions. Any such Transactions are
a- close your Account covered by this Agreement Apps that use your Card to make Transactions may
have separate terms of use. We're not responsible if you violate those terms, or for
any consequences resulting from any violation .

Note: It's important to protect your devices the same way you protect your Card. Anyone who can access your Card using your device also can make charges to
your Account using that device.

ANNUAL PERCENTAGE RATES & INTEREST CHARGES
The following sections explain how we calculate the interest you owe each
Billing Period. How is a variable APR calculated?

APRs. We use APRs to calculate interest charges on your Account. Different APRs If the U.S. Prime Rate published in the WSJ two Business Days
may apply to different Transactions. See the listing of your APRs on the Fact before the end of a Billing Period is So/,; and
Sheet If the Margin is 13.99%; then
Add the two together to calculate a variable APR:
Variable APRs. A variable APR is an APR that can change each Billing Period. We
calculate each variable APR first by taking the U.S. Prime Rate from The Wall 5% + 13.99% =18.99%
Street Journal (WSJ) two Business Days before the last day of each Billing Period.
(If the WSJdoesn1 publish the U.S. Prime Rate that day, then we'll use another
publication.) Then we add to the U.S. Prime Rate a certain percentage amount,
which we can the Margin. You can find the Margin we use for your Account in the Your variable APRs will increase if the U.S. Prime Rate increases and decrease if
Details About Your Interest Rate section of the Fact Sheet. the U.S. Prime Rate decreases. If a variable APR increases, then your interest
charges and Minimum Payment Due may increase.
If the U.S. Prime Rate changes, we'll apply the new variable APR starting from the
first day of the BiDing Period when we take the U.S. Prime Rate from the WSJ. The
new APR will apply to existing balances, as well as balances added to your
Account after the change.
Penalty APR. If you have a Late or Returned Paymen~ we may apply a penalty
APR to your Account. We determine your penalty APR based on your
creditworthiness.

3
• Penalty APR for new Transactions {less than 60 days late). If you make a Interest Calculation. Each daily balance may have a different APR. Certain
Late Payment and it's less than 60 days late or you have a Returned Payment, categories of Transactions in a daily balance may have multiple APRs. For
the penalty APR only will apply to new Transactions. We'll review your Account example, you may make a Purchase or Balance Transfer that's subject to a
from time to time to determine if a penalty APR should be reduced. promotional APR. If a daily balance on your Account is subject to an APR, we'll
• Penalty APR for existing balances and new Transactions (60 or more days charge interest on that daily balance. We use the daily balance method (which
late). If we haven't received your Minimum Payment Due within 60 days after its includes new Transactions). If interest applies to a balance, it will start applying on
due date, we may apply the penalty APR to both the existing balances and new the day a charge is added to that balance and continue until that balance is paid in
Transactions. If you make your next six consecutive Minimum Payments Due full. We consider a credit balance as a balance of zero when calculating interest on
on time, we'll stop applying the penalty APR to existing balances and new that balance.
Transactions. If you don't make your next six consecutive Minimum Payments
• We multiply each daily balance by its applicable daily periodic rates (each
Due on time, the penalty APR may continue to apply indefinitely to existing
applicable APR divided by 365) .
balances and new Transactions.
• We do this for each day in the Billing Period. This gives us the daily interest
amounts.
Daily Balance
We calculate interest on your Account each Billing Period first by calculating your • Then we total all the daily interest amounts for all the daily balances. This gives
daily balances. The following explains how we do that. us the total interest for the Billing Period.

Here's how and when Transactions, fees and credits are applied to the
balances on your Account: Note: Your balances, and their corresponding APRs, are shown on your
statement.
• We add the amount of a Purchase or Balance Transfer to the Purchase balance
as of the post date on your statement.
• We add the amount of a Cash Advance to the Cash Advance balance as of the Calculating the New Balance. To calculate the New Balance at the end of each
post date on your statement. Billing Period, we begin with the total Account balance at the start of that Billing
Period. Then we add any Transactions that are new to the Account during that
• We add a Balance Transfer fee to the Purchase balance as of the post date on
Billing Period. Then we subtract any credits applied or payments made during that
your statement.
Billing Period . Then we add any interest charges or fees incurred during that Billing
• We add the amount of any eligible Transaction under Citi Flex Pay or a Citi Flex Period and make any other adjustments, as applicable (for example, if you have
Loan to a Citi Flex Plan balance as of the post date on your statement. If you disputed a charge).
moved an amount from another balance within your Account to a Citi Flex Plan,
we will credit the other balance in the amount you added to a Citi Flex Plan in Grace Period on Purchases. You won't pay any interest on Purchases if you pay
order to avoid double counting that amount. the Adjusted New Balance, including any Balance Transfers, plus any Citi Flex Plan
• We add a Cash Advance fee to the Cash Advance balance as of the post date Payment Amount, in full by the payment due date shown on your statement each
on your statement. We'll add any other fees to the balance of our choice. If Billing Period . We call this a grace period on purchases. If you don't pay your
you're charged interest in a Billing Period, but the amount calculated is less Adjusted New Balance in full, plus any Cili Flex Plan Payment Amount, by the
than $0.50, we'll add additional interest to the balance(s) of our choice so that payment due date in a Billing Period , you'll pay interest on your Purchases from the
you'll be charged $0.50 in interest for that Billing Period. date they're posted to your Account. You also won 't have a grace period on
• We subtract credits and payments as of the post date shown on your statement. Purchases again until you pay the Adjusted New Balance in full, plus any Citi Flex
Plan Payment Amount, by the payment due date 2 Billing Periods in a row.
• Each balance may have a different APR. Certain categories of Transactions in
a balance may have multiple APRs. For example, you may make a Purchase or There's no grace period on Balance Transfers and Cash Advances. This means
Balance Transfer, or create a Citi Flex Plan , that's subject to a promotional you 'll pay interest on Balance Transfers and Cash Advances from the date these
APR. Your balances, and their corresponding APRs, are shown on your Transactions post to your Account.
statement.

Note: The post date shown on your statement will usually be the date of Important Information about Citi Flex Plans: We apply any amount you pay over
the Transaction, but it may be later. your Minimum Payment Due first to the balance with the highest APR, then to the
balance with the next highest APR, and so on, as described in Section 5,
Application of Payments. This means that, if the APR for a Citi Flex Plan balance is
Here's how we calculate each of the daily Purchase, Cash Advance and Citi higher than an APR that applies to another balance on your Account, we will apply
Flex Plan balances on your Account: the amount you pay above the Minimum Payment Due to that Citi Flex Plan
balance prior to that other balance. This will cause you to pay off that Citi Flex Plan
• We start with the daily balance from the end of the previous day.
balance before the end of its repayment period and may result in an amount
• We add any new Transactions, fees and other charges, including interest remaining due on your next billing statement for the other balance, increasing your
accrued on the previous day's balance. This means that interest is compounded Adjusted New Balance on your next billing statement.
daily.
• We subtract any credits or payments credited as of that day. You can see your balances and their corresponding APRs on your statement.
• We make additional adjustments as appropriate , subject to applicable law (as
an example, for a disputed charge).
This gives us the daily balance for that day.

Daily balance for purchases from the previous day
+ New purchases
+ Fees and interest accrued on the previous day's Purchase balance
• Payments, credits and adjustments posted that day
= New daily balance for Purchases

4
Grace Period for Citi Flex Plan balances. When you create a Citi Flex Plan, you
For example, in a sample Billing Period, an Account with no past due or will be charged interest on the Citi Flex Plan balance from the start of the Billing
Overlimit Amounts, has: Period following the Billing Period when you created the Citi Flex Plan. This means
that you will not be charged interest on the Citi Flex Plan balance during the Billing
Citi Flex Plan: $5,000 with a repayment period of 24 months at 16.99% Period in which you created the Citi Flex Plan .
APR
Citi Flex Plan statement balance in sample Billing Period: $4,090
Citi Flex Plan interest charge in sample Billing Period: $56.92
Citi Flex Plan Payment Amount per Billing Period: $248

and

Purchase balance: $5,000
Minimum Payment Due for Purchases: $75

(Calculations are approximate and for illustrative purposes only.)

The New Balance for the Account: is $9,090. The Adjusted New Balance is
the New Balance ($9,090) less the Citi Flex Plan Balance ($4,090): $5,000.
Your Minimum Payment Due is $323 ($75 + $248). To retain your grace
period on purchases, you must pay the Adjusted New Balance ($5,000) plus
your Citi Flex Plan Payment Amount ($248): $5,248.

If your Purchase APR is equal to or higher than your Citi Flex Plan APR and
you make a payment to retain your grace period on purchases ($5,248), your
Purchase balance will be reduced to $0. This means that, to retain your
~ grace period on purchases in the next Billing Period, you will be required to
..D
I:-' pay $248 (your Citi Flex Plan Payment Amount), assuming you do not make
ru any new Transactions.
D
[):I
If your Purchase APR is lower than your Citi Flex Plan APR and you make a
payment to retain your grace period on purchases ($5,248), your Purchase
balance will only be reduced by $75 (to $4,975). This is because your
payment above the Minimum Payment Due will be applied to your Citi Flex
Plan balance first. As a result, to retain your grace period on purchases in
the next Billing Period, you will be required to pay $4,975 (your remaining
Purchase balance) plus $248 (your Citi Flex Plan Payment Amount) for a
total of $5,223, assuming you do not make any new Transactions. This
amount is greater than the $248 you would have been required to pay in
order to retain your grace period on purchases if the Citi Flex Plan APR
had been equal to or lower than the Purchase APR. We will continue to
apply any payments above the Minimum Payment Due to your Citi Flex
Plan balance, and not your Purchase balance, until your Citi Flex Plan
balance is paid in full.

• 5
FEES & FOREIGN CURRENCY CONVERSION

Fees Amount About the Fee
Late Fee None for the fi rst late payment; up to $40 We won't charge a late fee the first time you make a Late Payment. After that,
after that. we have the right to charge you a late fee if you make a Late Payment. The
late fee is $29 and , if you make another Late Payment within the next 6 Billing
Periods, the late fee will be $40. The amount of your late fee will never be
higher than your Minimum Payment Due.

Returned Payment Fee Up to $40 We have the right to charge you a Returned Payment fee of $29 if your bank
doesn't honor your payment. If that happens, we'll resubmit the payment
request. If your bank doesn't honor another payment within 6 consecutive
Billing Periods, the Returned Payment fee will go up to $40.
Transaction Fee for Balance Transfers Either $5 or 3% of the amount of each We charge you a fee for each Balance Transfer.
transfer, whichever is greater.
Transaction Fee for Cash Advances Either $10 or 5% of the amount of each We charge you a fee

Case Info

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16TH CIRCUIT DIVISION 1 Track Judge’s New Case

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Document Filed Date

January 08, 2024

Case Filing Date

January 08, 2024

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Document for CAVALRY SPV I LLC V CODY MYNATT

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