Terms & Conditions
Last Updated: March 15, 2017
In addition, you acknowledge and agree that you have read and consent to the Bread ESIGN Policy regardless of whether you are a registered member of the Bread Services or have successfully completed an application for a loan.
The Bread Services and this Site are intended solely for Members who are natural persons, eighteen (18) years of age or older (nineteen (19) years of age for Alabama and Nebraska, if applicable), and residents of the United States. In addition, if you have been denied a loan using the Bread Services during the preceding ninety (90) days, you are ineligible to apply for a loan using the Bread Services at such time. By using the Bread Services or accessing this Site, you represent and warrant that you are eligible to do so. We must also be able to verify your identity.
You must be eligible to apply for a loan: You must be over a certain age (generally 18) and a resident of the United States. You must not have been denied a loan using Bread on any merchant website in the last 90 days. We must also be able to verify who you say you are.
The Bread Services will include an application for credit to finance the purchase of goods on our merchant partner websites. If you are approved, the financing will be available to you through a closed-end, fixed rate, unsecured installment loan with a term to be specified in the terms and conditions of your loan. The loans are issued by Cross River Bank, our bank partner (the “Bank”), who will pay the merchant on your behalf and who will use Bread’s technology to send disclosures and notices to you.
The financing for your purchase is provided through a fixed rate, closed-end, unsecured loan. The loan is issued by Cross River Bank, Member FDIC, our bank partner. Cross River Bank, Member FDIC will pay the merchant directly on your behalf.
After the loan has been issued, you will receive a notice at the email address you provided as part of your registration that will contain instructions on how to access your loan agreement.
If a loan issued to you, you will have a loan agreement with Cross River Bank. The loan agreement has important terms, which you should read. A copy of the loan agreement will also be available to you before you complete your purchase so you can decide whether to accept the loans.
Refunds and Cancellations
By accepting the final terms of the Bread Services at any merchant partner website, you are agreeing to repay to the Bank, or its assigns, the loan, based on the terms and conditions of your loan agreement, unless the loan is not issued. The loan may not be issued if the merchant partner does not fulfill the transaction or if the transaction is cancelled for any reason between you and the merchant before the merchant fulfills the transaction. A loan may also be issued for a reduced amount if some, but not all, of the products you purchased were not fulfilled by the merchant or were cancelled or returned. Once the loan has been issued, you are responsible for making the payments pursuant to your loan agreement. If a refund or cancellation is processed between you and the merchant after the loan has been issued, the merchant will notify us and the amount of your loan will be adjusted accordingly. We may rely solely on the merchant for the amount of the refund or cancellation to adjust your loan amount. Any disputes as to the adjusted amount of the loan are to be resolved between you and the merchant unless the adjusted amount of the loan is the result of an error.
If the refund or cancellation is for the entirety of the borrowed amount, you may still owe finance charges depending on when the merchant notifies us of the refund or cancellation.
Once you complete your purchase, the loan is issued to you and you are responsible for repaying your loan. If you decide to cancel your purchase or ask for a refund, you should contact the merchant. If the merchant processes your cancellation or refund, the merchant will then contact us and your loan amount will be reduced.
It is important that you make timely payments on your loan. We are here to help you with any questions on repayment methods.
You may also log into your account at the Borrower Portal at members.getbread.com or call (844) 992-7323 to make a payment via electronic fund transfer (ACH or debit card) or mail a check to:
P.O. Box 783186
Philadelphia, PA 19178
Communications and Notifications
You consent to receiving communications from us, individually and on behalf of the Bank, or any of our agents or third parties acting on our behalf either through telephone (including voice or text messaging on cellular devices), in writing through postal mail or over email.
You consent that this communication may be generated by automatic dialer systems or automatic telephone dialing systems, pre-recorded voice messages, and automatically generated text messages or emails. For any calls or text messages, your cellular or mobile telephone provider may charge you according to the type of plan you carry and you are responsible for such charges. You also agree that we may contact you at any email address you have provided to us or our merchant partners or that you may provide to the us in the future or the cellular phone number you provided to us at the time of application or any other phone number you may provide to us in the future. You agree that we may record any phone calls between you and us for quality control purposes or our own legal protection. You agree that any such communication is not unsolicited for purposes of federal or state law. If you authorize a third party to communicate on your behalf with us or our agents regarding your account with us, you agree and acknowledge that we may disclose information about your account to the third party.
If you withdraw your consent to receiving electronic communications you understand and acknowledge that we, individually or on behalf of the Bank, reserve the right to close your account and require that all payments be due immediately. You acknowledge and agree that any withdrawal of consent to receiving communications of the type described above will be separate from your Bread ESIGN Consent which will govern our ability to send you Disclosures (as defined in the Bread ESIGN Policy) required by law.
You are giving us and our representatives the right to contact you via email, text message, phone call or regular mail. These communications are important for sending payment reminders and important notices. You can opt out of these communications. However, because we need to contact you to send you important notices, we may then close your account with Bread.
You agree that we or any of our agents or third parties acting on our behalf may contact you periodically to send you reminders to pay your monthly obligations through any of the communication methods provided above. If your payments are delinquent, collection proceedings may be initiated to collect your outstanding loan amount which may include contacting you, the assignment of your loan by the Bank or its assigns to a third party collections agency, reporting negative information to the credit reporting agencies, restricting your access to the Bread Services for future purchases, or taking legal action.
You may be contacted with payment reminders. It is important that you make timely payments. Failure to make payments on time may result in fees or negative consequences to your credit history
You agree to pay a late fee of $10 if the total due payment for any given month is not received by its due date. You agree to pay an insufficient funds fee of $10 if any payment transaction is returned or fails due to insufficient funds in your account.
For legal reasons, we need to verify who you say you are. We may ask for some basic information when you apply for a loan and have a third party verify this information.
You acknowledge and understand that applying for a loan using the Bread Services is an application for credit. By using the Services, you give us and the Bank permission to obtain your credit report and other information from a credit reporting agency and information from other sources in order to assess your creditworthiness. Your submission of a pre-qualification application will require a “soft” inquiry to a credit reporting agency of your credit score. Your submission of the final application will require a “hard” inquiry to a credit-reporting agency. Once you have been approved for a loan, we may obtain monitoring services from a credit reporting agency on your account to ensure that there have not been any changes to your creditworthiness. You understand and acknowledge that we may obtain any other information the Bank considers necessary to assess your creditworthiness.
By financing your purchase, you are applying for credit. As with most credit applications, we will need to obtain your credit profile information from a credit reporting agency.
You acknowledge that we may report positive or negative information about your loan account, including your repayment histories, to credit reporting agencies.
We may report positive or negative information about you to credit reporting agencies depending on the timeliness of your repayments.
As a condition to accessing the Site or using the Bread Services, you agree that you will not:
- Fraudulently use the information of any other person without such person’s authorization
- Use another person’s account with Bread without such person’s authorization
- Use the Bread Services for any illegal purpose
- Use the Bread Services to purchase gift cards or any cash equivalent instruments
- Provide to us or the Bank any misleading or false information, including in your application for a loan or in any of your communications, whether in writing or orally
- Use any software, device, or technology to commit unauthorized use of the Site or disrupt the Site or the Bread Services in any way
- Or otherwise engage in any activity that is illegal or in contravention of any agreement you have with Bread
We reserve the right, at all times, to prevent your access to the Site or to the Bread Services or cancel your account with Bread including if we have reason to believe that you have committed any of the restricted activities above.
Do not do any of the items listed to the left.
You agree to provide us true and accurate information at all times. You agree to keep us informed of any changes to your email address or cellular number so that you can continue to receive all Disclosures in a timely fashion. If your registered email address or cellular number changes, you must notify us of the change by sending an email to email@example.com or calling (844) 992-7323. You also agree to update your registered residence address in the Borrower Portal if it changes.
You agree to provide us with updates to your contact information. If your email or phone number changes, please contact us immediately.
Your account on the Borrower Portal will include personal and sensitive information about you and your account. You agree to maintain the security of your username and password and restrict access to your account by unauthorized persons. You agree that you are fully responsible for any activity that occurs on your account in the Borrower Portal. If you have reason to believe that the security of your account has been compromised, you agree to contact us immediately by sending an email to firstname.lastname@example.org or calling us at (844) 992-7323.
You are responsible for the security and privacy of your own account. If you think your account has been compromised, please contact us immediately.
Links to Other Web Sites and Content
The Site may contain (or you may be sent through the Site or the Bread Services) links to other web sites (including our merchant partner websites) (“Third Party Sites”), as well as articles, photographs, text, graphics, pictures, designs, music, sound, video, information, software and other content belonging to or originating from third parties (the “Third Party Content”). Such Third Party Sites and Third Party Content are not investigated, monitored or checked for accuracy, appropriateness, or completeness by us, and we are not responsible for any Third Party Sites or any Third Party Content posted on the Site, including, without limitation, the content, accuracy, offensiveness, opinions, reliability or policies contained in the Third Party Sites or the Third Party Content. If you decide to leave the Site and access any Third Party Sites (including accessing any Third Party Content on merchant websites while you use the Bread Services), you do so at your own risk and you should be aware that our terms and policies no longer govern. You should review the applicable terms and policies, including privacy and data gathering practices, of any Third Party Site.
Proprietary Rights in Site Content; Limited License
All content on the Site or used in the Bread Service, including but not limited to designs, text, graphics, pictures, video, information, software, music, sound and other files, and their selection and arrangement (including “Bread” which is a trademark of the Company) (the “Bread Content”), are the proprietary property of the Company with all rights reserved. No Bread Content may be modified, copied, distributed, framed, reproduced, republished, downloaded, displayed, posted, transmitted, or sold in any form or by any means, in whole or in part. Provided that you are eligible for use of the Site and the Bread Services, you are granted a limited license to access and use the Site and to download or print a copy of any portion of the Bread Content solely for your use in connection with your use of the Site or Bread Service or to access any Disclosures. You may not republish Bread Content on or incorporate the information in any other database or compilation, and any other use of the Bread Content is strictly prohibited and will terminate the license granted herein.
All of the content on this website and the application belongs to Bread. You are getting a license to use to use the Bread Services and use this website for a limited purpose.
(c) The party initiating arbitration shall do so with the American Arbitration Association (the “AAA”) or JAMS. The arbitration shall be conducted according to, and the location of the arbitration shall be determined in accordance with, the rules and policies of the administrator selected, except to the extent the rules conflict with this Arbitration Provision or any countervailing law. In the case of a conflict between the rules and policies of the administrator and this Arbitration Provision, this Arbitration Provision shall control, subject to countervailing law, unless all parties to the arbitration consent to have the rules and policies of the administrator apply.
(d) If we elect arbitration, we shall pay all the administrator’s filing costs and administrative fees (other than hearing fees). If you elect arbitration, filing costs and administrative fees (other than hearing fees) shall be paid in accordance with the rules of the administrator selected, or in accordance with countervailing law if contrary to the administrator’s rules. We shall pay the administrator’s hearing fees for one full day of arbitration hearings. Fees for hearings that exceed one day will be paid by the party requesting the hearing, unless the administrator’s rules or applicable law require otherwise, or you request that we pay them and we agree to do so. Each party shall bear the expense of its own attorneys’ fees, except as otherwise provided by law. If a statute gives you the right to recover any of these fees, these statutory rights shall apply in the arbitration notwithstanding anything to the contrary herein.
(e) Within 30 days of a final award by the arbitrator, any party may appeal the award for reconsideration by a three-arbitrator panel selected according to the rules of the arbitrator administrator. In the event of such an appeal, any opposing party may cross-appeal within 30 days after notice of the appeal. The panel will reconsider de novo all aspects of the initial award that are appealed. Costs and conduct of any appeal shall be governed by this Arbitration Provision and the administrator’s rules, in the same way as the initial arbitration proceeding. Any award by the individual arbitrator that is not subject to appeal, and any panel award on appeal, shall be final and binding, except for any appeal right under the Federal Arbitration Act (“FAA”), and may be entered as a judgment in any court of competent jurisdiction.
(f) We agree not to invoke our right to arbitrate an individual Claim you may bring in Small Claims Court or an equivalent court, if any, so long as the Claim is pending only in that court. NO ARBITRATION SHALL PROCEED ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS (INCLUDING AS PRIVATE ATTORNEY GENERAL ON BEHALF OF OTHERS), EVEN IF THE CLAIM OR CLAIMS THAT ARE THE SUBJECT OF THE ARBITRATION HAD PREVIOUSLY BEEN ASSERTED (OR COULD HAVE BEEN ASSERTED) IN A COURT AS CLASS REPRESENTATIVE, OR COLLECTIVE ACTIONS IN A COURT. Unless consented to in writing by all parties to the arbitration, no party to the arbitration may join, consolidate, or otherwise bring claims for or on behalf of two or more individuals or unrelated corporate entities in the same arbitration unless those persons are parties to a single transaction. Unless consented to in writing by all parties to the arbitration, an award in arbitration shall determine the rights and obligations of the named parties only, and only with respect to the claims in arbitration, and shall not (a) determine the rights, obligations, or interests of anyone other than a named party, or resolve any Claim of anyone other than a named party; nor (b) make an award for the benefit of, or against, anyone other than a named party. No administrator or arbitrator shall have the power or authority to waive, modify, or fail to enforce this Section (f), and any attempt to do so, whether by rule, policy, arbitration decision or otherwise, shall be invalid and unenforceable. Any challenge to the validity of this Section (f) shall be determined exclusively by a court and not by the administrator or any arbitrator.
(g) This Arbitration Provision is made pursuant to a transaction involving interstate commerce and shall be governed by and enforceable under the FAA. The arbitrator will apply substantive law consistent with the FAA and applicable statutes of limitations. The arbitrator may award damages or other types of relief permitted by applicable substantive law, subject to the limitations set forth in this Arbitration Provision. The arbitrator will not be bound by judicial rules of procedure and evidence that would apply in a court. The arbitrator shall take steps to reasonably protect confidential information.
THE PARTIES ACKNOWLEDGE THAT THEY HAVE A RIGHT TO LITIGATE CLAIMS THROUGH A COURT BEFORE A JUDGE OR JURY, BUT WILL NOT HAVE THAT RIGHT IF ANY PARTY ELECTS ARBITRATION PURSUANT TO THIS ARBITRATION PROVISION. THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY WAIVE THEIR RIGHTS TO LITIGATE SUCH CLAIMS IN A COURT BEFORE A JUDGE OR JURY UPON ELECTION OF ARBITRATION BY ANY PARTY.
In case of a dispute, you are agreeing to waive certain rights, including the right to sue in court, the right to a jury, and the right to participate in class proceedings. You may opt out of the Arbitration Provision as described in this Section.
Limitation on Liability
TO THE EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL WE OR OUR DIRECTORS, EMPLOYEES OR AGENTS BE LIABLE TO YOU OR ANY THIRD PARTY FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES, INCLUDING FOR ANY LOST PROFITS OR LOST DATA, ARISING FROM YOUR USE OF THE SITE OR THE BREAD SERVICES (INCLUDING YOUR USE OF ANY PRODUCT PURCHASED USING THE BREAD SERVICES, THE UNAVAILABILITY OF THE BREAD SERVICES FOR ANY REASON, OR ANY SYSTEM FAILURE OR MALFUNCTION ASSOCIATED WITH THE BREAD SERVICES) AND INCLUDING ANY THIRD PARTY CLAIMS, WHETHER BASED ON THEORIES OF BREACH OF CONTRACT, TORT, PRODUCT LIABILITY, OR BREACH OF WARRANTY. THESE LIMITATIONS ON LIABILITY WILL APPLY EVEN IF WE ARE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR CLAIMS. THE PARTIES UNDERSTAND THAT THE BREAD SERVICES BY US WOULD NOT BE PROVIDED WITHOUT SUCH LIMITATIONS. IN ALL OTHER INSTANCES AND TO THE EXTENT PERMITTED BY APPLICABLE LAW, OUR LIABILITY TO YOU FOR ANY CAUSE WHATSOEVER, AND REGARDLESS OF THE FORM OF THE ACTION, WILL AT ALL TIMES BE LIMITED TO THE AMOUNT PAID, IF ANY, BY YOU FOR THE BREAD SERVICES.
WE DISCLAIM ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, ANY LIABILITY FOR ERRORS OR OMISSIONS IN ANY INFORMATION PROVIDED AS PART OF THE BREAD SERVICES OR ON THE SITE AND ANY WARRANTIES REGARDING THE OPERABILITY OF THE BREAD SERVICES OR LIABILITY FOR ANY SERVICE INTERRUPTIONS OR SYSTEMS FAILURES THAT MAY AFFECT THE BREAD SERVICES AT ANY TIME.
Governing Law; Venue and Jurisdiction
You agree to receive electronically all disclosures, communications, notices, and other information that Lon Operations LLC (d/b/a Bread and Bread Operations) and its affiliates or subsidiaries (collectively, “Bread”, the “Company”, “we” or “us”) or Cross River Bank may send to you or be required to send to you under applicable law or otherwise (the “Bread Electronic Signature Consent”) pursuant to the terms and conditions set forth below (the “Bread Electronic Signature Policy”).
Scope of Consent
Your Bread Electronic Signature Consent applies to any transactions undertaken by you with us, Cross River Bank (the “Bank”) or any of our agents or representatives, including use of the Bread Services, any communication from us or the Bank or our representatives or agents to you, including all disclosures, communication, notices, and other information required to be given to you under applicable law, any other information required by law to be provided either before or after your loan is issued, your loan agreement, billing statements, adverse action notices, any updates to your account, in each case, pertaining to any transaction with us, the Bank or any use of the Bread Services, whether now or in the future (the “Disclosures”). Your consent will remain in effect from the time you initially use the Bread Services or access the Site until such time as your account with Bread is terminated and, once terminated, will continue until such a time as all Disclosures relevant to your account have been provided.
Means of Communication
We may send any Disclosures to you via email to the email address that you have provided (or may provide later) to us or via text message to the cellular telephone number that you have provided (or may provide later) to us. We may also post Disclosures on the Borrower Portal under your account or on the Site and will inform you of the posting of such Disclosures. You agree that Bread is not responsible for your failure to receive any Disclosures sent via text message or email that is not caused by our failure to send the Disclosure to the cellular number or email address that you would have provided to us.
Obtaining Paper Disclosures
You can obtain a paper copy of an electronic Disclosure at no charge, provided that such request is made within a reasonable time after we first provided the electronic Disclosure to you. To request a paper copy of a Disclosure, mail your request to P.O. Box 783186, Philadelphia, PA 19178, identifying the specific Disclosure(s) you would like a copy of and sufficient information to verify your identity and identify the account.
Before you decide to do business electronically with us, you should consider whether you have the required hardware and software capabilities described:
- A valid working email account
- A cellular device capable of receiving text messages
- Access to a computer, operating system and telecommunication connection to the Internet capable of receiving, accessing, displaying and either printing or displaying information electronically. Your Internet browser must be one of the current and previous major releases of Chrome, Firefox, Internet Explorer, and Safari
- Sufficient electronic storage capacity on your computer’s hard drive or other data storage unit
- Adobe Acrobat or equivalent software
We will notify you of any changes to these requirements that create a risk that you may not be able to receive Disclosures directly
You may withdraw your consent to receiving electronically the communications or information subject to your Bread ESIGN Consent at any time by contacting us via email at email@example.com or calling (844) 992-7323. The legal effectiveness, validity, and enforceability of all agreed to terms and conditions and any prior Disclosures will remain in effect. Any withdrawal of your consent will be effective only after we have a reasonable period of time to process your withdrawal. If you decide to withdraw your consent, your account with the Bread will be closed and your loan may become due immediately. We may also restrict your ability to apply for or obtain future loans.
Changes to Your Contact Information
You agree to keep us informed of any changes in your email address or cellular number so that you can continue to receive all Disclosures in a timely fashion. If your registered email address or cellular number changes, you must notify us of the change by sending an email to firstname.lastname@example.org or calling (844) 992-7323. You also agree to update your registered residence address in the Borrower Portal if it changes
Acknowledging Your Ability to Access Disclosure
You agree and acknowledge that you can access, receive and retain all Disclosures electronically sent via email or to your cellular number or posted on the Site.
You are agreeing to transact business with us electronically. This means you will not receive paper copies of important notices, agreements and disclosures. By checking a box or clicking on a button, you may be providing your consent as if you had given your signature on a piece of paper.