In these Conditions of Use and the Schedule:
Account Transaction means any transaction relating to your humm90 Account not being a Promotional Offer or involving the use of a humm90 Mastercard. It includes a Balance Transfer Transaction and any transaction the subject of an Instalment Plan.
Additional Cardholder means the person who is issued at your request with a humm90 Mastercard to operate your humm90 Account.
Annual Percentage Rate means, in relation to a Transaction or amount at any time, the applicable annual percentage rate to be applied to the balance of the Transaction or amount making up the Unpaid Daily Balance which may be:
•
the humm90 Purchase Rate•
the Cash Advance Rate;•
the Expired Promotional Rate; or•
an applicable Promotional Rate, in each case as specified in the Schedule.Balance Transfer Transaction means the transfer of the total debit balance of either of the following to the humm90 Account:
•
an account you have with us; or•
an account you have with another Australian financial institution or credit card issuer.We may approve a request by you to make such a transfer in
accordance with the terms of any offer we may make from time to time.
BPAY®1 means the electronic payment scheme called BPAY operated in co-operation between Australian financial institutions, which enables you to effect bill payments to billers who participate in BPAY.
BPAY Payment means a payment transacted using BPAY through my humm90 and in accordance with our my humm90 Terms of Use.
Business Day means a day that is not a Saturday, Sunday or a public holiday or bank holiday in New South Wales.
Card Details means the information provided on the humm90 Mastercard and includes the card number and expiry date.
Card Transaction means any transaction involving the use of the humm90 Mastercard (including any Card Details) to access the humm90 Account, including an EFT Transaction and a Cash Advance.
1. Registered to BPAY PTY LTD ABN 69 079 137 518.
Cash Advance means a transaction where cash or its equivalent is obtained and includes:
•
cash withdrawals; and•
Transactions (including EFT Transactions) for items which we consider are equivalent to cash (e.g. gambling) or items which we are told by merchants are for such items equivalent to cash.Cash Advance Rate means the reference rate specified as the Cash Advance Rate in the Schedule.
Daily Percentage Rate means, in relation to a particular amount and day, the applicable Annual Percentage Rate on that day divided by 365.
Deferred Payment Period or Payment Holiday means a period:
•
specified by us or a Retail Partner as being a Deferred Payment Period or Payment Holiday (if any) applying to an individual Transaction; and•
commencing from the date of the Transaction during which we will not require repayment of the amount (or any part of the amount), although you will still owe us the amount. After the expiry of the specified period, you will be required to make repayments in respect of the Transaction and interest will be charged at the Expired Promotional Rate.EFT System means the shared system under which EFT Transactions are processed.
EFT Terminal means the electronic equipment, electronic system, communications system or software controlled or provided by or on behalf of us or any third party that may be used in conjunction with a humm90 Mastercard and PIN to conduct an EFT Transaction and includes, but is not limited to an automatic teller machine (ATM) or electronic funds transfer point of sale (EFTPOS) terminal.
EFT Transaction means a transaction instructed by you through Electronic Equipment using a humm90 Mastercard and PIN or Card Details but not requiring a manual signature, including a transaction at an ATM or EFT Terminal and a BPAY Payment.
Electronic Equipment means an EFT Terminal and other equipment including a computer, television and telephone.
Eligible Unpaid Balance means, on a particular day, the Unpaid Daily Balance less:
•
the amount of any unpaid BPAY Payment or unpaid CardTransaction (excluding a Cash Advance or a Transaction that was or is the subject of a Promotional Offer) which, on that particular day, is the subject of an Interest Free Period under clause 4.1(b);
•
the amount of any unpaid fee or charge under this contract which, on that particular day, is the subject of an Interest Free Period under clause 3.1(a);•
any Transaction (to the extent it is unpaid) in a current Deferred Payment Period; and•
any Transaction the subject of an Instalment Repayment to the extent it has not been repaid.Expired Promotional Rate means, in relation to a Transaction, the reference rate specified in the Schedule as the Expired Promotional Rate.
Conditions of Use and Credit Guide
November 2020humm®90 provided by humm Cards Pty Ltd ABN 31 099 651 877 Australian Credit Licence number 247415.
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. H90/2896-CUCG
CALL 1300 115 533 // VISIT humm90.com/au // POST Locked Bag 5005, Royal Exchange Sydney NSW 1225
12 //
Fixed Payment Plan means any Instalment Plan or humm90wrap that you have entered into, or anything else that we tell you is a Fixed Payment Plan from time to time.
humm90 Account means the account we set up to record transactions under this contract.
humm90 Mastercard® means a Mastercard credit card issued by us to you and, if applicable, an Additional Cardholder for use on your humm90 Account from time to time.
humm90wrap means a repayment plan we agree in writing with you and known as humm90wrap in respect of the repayment of an eligible Card Transaction.
humm90 Purchase Rate means the reference rate specified in the Schedule as the humm90 Purchase Rate.
includes and including is not a word of limitation.
Instalment Plan means an Account Transaction with a Retail Partner where you request and we agree that the amount of the Transaction be repaid by agreed monthly Instalment Repayments or progress payments.
Instalment Plan Remaining Balance means subject to clause 4.5(b), the outstanding amount of the transaction that is the subject of the Instalment Plan plus any interest that has been debited or accrued in respect of those amounts that remains unpaid.
Instalment Repayment means the monthly instalment payable under a monthly repayment plan relating to a Transaction or the contract that we agree with you. An Instalment Plan and a humm90wrap are types of monthly repayment plans.
Interest Free Criteria has the meaning set out at clause 4.4.
Interest Free Period means, in relation to a Transaction or fee, a period during which we have agreed we will not charge interest on the amount of that Transaction and includes any Long Term Interest Free Period, Deferred Payment Period or other interest free period referred to in these Conditions of Use.
Long Term Interest Free Period means a period:
•
specified by us or a Retail Partner as being a Long Term Interest Free Period (if any) applying to an individual Transaction; and•
commencing from the date of the Transaction during which we will not charge interest on the amount of that Transaction. After the expiry of the specified period, interest will be charged at the Expired Promotional Rate.Low Start-Up Interest Rate Period means a period:
•
specified by us or a Retail Partner as being a Low Start-Up Interest Rate Period (if any) applying to an individual Transaction; and•
commencing from the date of the Transaction during which we will charge interest on the amount of that Transaction at the specified Promotional Rate for that Transaction. After the expiry of the specified period, interest will be charged at the Expired Promotional Rate.•
my humm90 means our online self-service portal where you can manage your humm90 Account.PIN means the personal identification number issued to you or an Additional Cardholder by us for use with a humm90 Mastercard or in conjunction with a Promotional Offer, which may be changed by you or the Additional Cardholder from time to time.
Promotional Offers has the meaning set out in clause 1.4.
Promotional Rate means, in relation to a Transaction, the rate specified in a Promotional Offer as the Promotional Rate applying to that transaction.
Remaining Balance means the Instalment Plan Remaining Balance and, if you have a humm90wrap, the balance in respect of that wrap that we have agreed will form part of the Remaining Balance.
Retail Partner means a retailer, or any other provider of goods or services, approved by us.
Schedule means the humm90 Product Schedule provided to you in respect of the humm90 Account as varied from time to time.
Statement Period means the period of time to which a monthly account statement for humm90 Account relates or if no statement was issued in a month, the monthly period to which a statement would have related, had it been issued.
Transaction means any Card Transaction, Account Transaction or Promotional Offer.
Unpaid Balance means the difference between all amounts credited and all amounts debited the humm90 Account at that time.
Unpaid Daily Balance for a day means the Unpaid Balance at the end of that day.
use of your humm90 Mastercard includes use of the humm90 Mastercard or the Card Details.
we, us or our means humm Cards Pty Ltd (ABN 31 099 651 877), Australian Credit Licence number 247415, the credit provider under this contract, and includes its successors and assigns.
you means the borrower(s) named in the Schedule and your has a corresponding meaning. If there is more than one borrower named in the Schedule, you means each borrower separately and all borrowers jointly.
Unless otherwise required by the context, a singular word includes the plural and vice versa.
The Schedule prevails to the extent of any inconsistency between it and these Conditions of Use.
Conditions of Use and Credit Guide
November 2020INFORMATION STATEMENT
Things you should know about your proposed Credit Contract
This statement tells you about some of the rights and obligations of yourself and your credit provider. It does not state the terms and conditions of your contract.
If you have any concerns about your contract, contact the credit provider and, if you still have concerns, the AFCA scheme, or get legal advice.
The Contract
1 . How can I get details of my proposed credit contract?
Your credit provider must give you a precontractual statement containing certain information about your contract. The precontractual statement, and this document, must be given to you before:
•
your contract is entered into; or•
you make an offer to enter into the contract;whichever happens first.
2 . How can I get a copy of the final contract?
If the contract document is to be signed by you and returned to your credit provider, you must be given a copy to keep. Also, the credit provider must give you a copy of the final contract within 14 days after it is made. This rule does not, however, apply if the credit provider has previously given you a copy of the contract document to keep.
If you want another copy of your contract write to your credit provider and ask for one. Your credit provider may charge you a fee.
Your credit provider has to give you a copy:
•
within 14 days of your written request if the original contract came into existence 1 year or less before your request; or•
otherwise within 30 days of your written request.3 . Can I terminate the contract?
Yes. You can terminate the contract by writing to the credit provider so long as:
(a) you have not obtained any credit under the contract; or (b) a card or other means of obtaining credit given to you by your
credit provider has not been used to acquire goods or services for which credit is to be provided under the contract.
However, you will still have to pay any fees or charges incurred before you terminated the contract.
4 . Can I pay my credit contract out early?
Yes. Pay your credit provider the amount required to pay out your credit contract on the day you wish to end your contract.
5 . How can I find out the pay out figure?
You can write to your credit provider at any time and ask for a statement of the pay out figure as at any date you specify. You can also ask for details of how the amount is made up.
Your credit provider must give you the statement within 7 days after you give your request to the credit provider. You may be charged a fee for the statement.
6 . Will I pay less interest if I pay out my contract early?
Yes. The interest you can be charged depends on the actual time money is owing. However, you may have to pay an early termination charge (if your contract permits your credit provider to charge one) and other fees.
7 . Can my contract be changed by my credit provider?
Yes, but only if your contract says so.
8 . Will I be told in advance if my credit provider is going to make a change in the contract?
That depends on the type of change. For example:
•
you get at least same day notice for a change to an annual percentage rate. That notice may be a written notice to you or a notice published in a newspaper. change happens automatically under the contract.9 . Is there anything I can do if I think that my contract is unjust?
Yes. You should first talk to your credit provider. Discuss the matter and see if you can come to some arrangement.
If that is not successful, you may contact the AFCA scheme. The AFCA scheme is a free service established to provide you with an independent mechanism to resolve specific complaints.
The AFCA scheme can be contacted on 1800931 678 at www.afca.org.au or by writing to the Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001.
Alternatively, you can go to court. You may wish to get legal advice, for example from your community legal centre or Legal Aid. You can also contact ASIC, the regulator, for information on 1300 300 630 or through ASIC’s website at www.asic.gov.au.
Insurance
10 . Do I have to take out insurance?
Your credit provider can insist you take out or pay the cost of types of insurance specifically allowed by law. These are compulsory third party personal injury insurance, mortgage indemnity insurance or insurance over property covered by any mortgage. Otherwise,
Conditions of Use and Credit Guide
November 2020humm®90 provided by humm Cards Pty Ltd ABN 31 099 651 877 Australian Credit Licence number 247415.
Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. H90/2896-CUCG
CALL 1300 115 533 // VISIT humm90.com/au // POST Locked Bag 5005, Royal Exchange Sydney NSW 1225
14 //
you can decide if you want to take out insurance or not. If you take out insurance, the credit provider cannot insist that you use any particular insurance company.
11 . Will I get details of my insurance cover?
Yes, if you have taken out insurance over mortgaged property or consumer credit insurance and the premium is financed by your credit provider. In that case the insurer must give you a copy of the policy within 14 days after the insurer has accepted the insurance proposal.
Also, if you acquire an interest in any such insurance policy which is taken out by your credit provider then, within 14 days of that happening, your credit provider must ensure you have a written notice of the particulars of that insurance.
You can always ask the insurer for details of your insurance
contract. If you ask in writing, your insurer must give you a statement containing all the provisions of the contract.
12 . If the insurer does not accept my proposal, will I be told?
Yes, if the insurance was to be financed by the credit contract. The insurer will inform you if the proposal is rejected.
13 . In that case, what happens to the premiums?
Your credit provider must give you a refund or credit unless the insurance is to be arranged with another insurer.
14 . What happens if my credit contract ends before any insurance contract over mortgaged property?
You can end the insurance contract and get a proportionate rebate of any premium from the insurer.
General
15 . What do I do if I cannot make a repayment?
Get in touch with your credit provider immediately. Discuss the matter and see if you can come to some arrangement. You can ask your credit provider to change your contract in a number of ways:
•
to extend the term of your contract and reduce payments; or•
to extend the term of your contract and delay payments for a set time; or•
to delay payments for a set time.16 . What if my credit provider and I cannot agree on a suitable arrangement?
If the credit provider refuses your request to change the
repayments, you can ask the credit provider to review this decision if you think it is wrong.
If the credit provider still refuses your request you can complain to the AFCA scheme. Further details about this scheme are set out below in question 18.
17 . Can my credit provider take action against me?
Yes, if you are in default under your contract. But the law says that you cannot be unduly harassed or threatened for repayments. If you think you are being unduly harassed or threatened, contact the AFCA scheme or ASIC, or get legal advice.
18 . Do I have any other rights and obligations?
Yes. The law will give you other rights and obligations You should also READ YOUR CONTRACT carefully.
IF YOU HAVE ANY COMPLAINTS ABOUT YOUR CREDIT CONTRACT, OR WANT MORE INFORMATION, CONTACT YOUR CREDIT PROVIDER . YOU MUST ATTEMPT TO RESOLVE YOUR COMPLAINT WITH YOUR CREDIT PROVIDER BEFORE CONTACTING THE AFCA SCHEME . IF YOU HAVE A COMPLAINT WHICH REMAINS UNRESOLVED AFTER SPEAKING TO YOUR CREDIT PROVIDER YOU CAN CONTACT THE AFCA SCHEME OR GET LEGAL ADVICE .
THE AFCA SCHEME IS A FREE SERVICE ESTABLISHED TO PROVIDE YOU WITH AN INDEPENDENT MECHANISM TO RESOLVE SPECIFIC COMPLAINTS . THE AFCA SCHEME CAN BE CONTACTED ON 1800 931 678, AT www.afca.org.au OR BY WRITING TO AUSTRALIAN FINANCIAL COMPLAINTS AUTHORITY, GPO BOX 3, MELBOURNE VIC 3001 .
PLEASE KEEP THIS INFORMATION STATEMENT . YOU MAY WANT SOME INFORMATION FROM IT AT A LATER DATE .
Conditions of Use and Credit Guide
November 2020CREDIT GUIDE
Responsible Lending
humm Cards Pty Ltd ABN 31 099 651 877 Australian credit licence number 247415, as a responsible lender, is committed to providing its products and services responsibly. Under the National Consumer Credit Protection Act 2009 (Cth), we have the following obligations:
1 . Making inquiries and conducting suitability assessments Prior to entering a credit contract (or increasing the credit limit), we are required by law to:
•
make reasonable inquiries about your requirements and objectives in relation to the credit contract (or the credit limit increase), the maximum credit limit you require and your financial situation•
take reasonable steps to verify your financial situation, and•
make an assessment on whether the credit contract (or credit limit increase) is unsuitable for you.The credit contract (or credit limit increase) must be assessed as unsuitable for you if, at the time of the assessment, it is likely that:
• it will not meet your requirements or objectives;