Capital One Important Disclosures

ANNUAL PERCENTAGE RATE (APR) for purchases‡	0% (0.00000% daily periodic rate) through your 04/2010 billing period. After that, a variable rate, currently equal to 14.99% (0.04107% daily periodic rate), 17.99% (0.04929% daily periodic rate) or 22.99% (0.06299% daily periodic rate). ◊
Other APRs	Transfer APR: A variable rate, currently equal to 14.99% (0.04107% daily periodic rate), 17.99% (0.04929% daily periodic rate) or 22.99% (0.06299% daily periodic rate). ◊♦ Cash advance APR: A variable rate, currently equal to 24.9% (0.06822% daily periodic rate). Default APR: A variable rate, currently equal to 29.4% (0.08055% daily periodic rate). See explanation below. ‡
Variable rate information	Your purchase APR may vary quarterly. The rate will be determined by adding 11.74%, 14.74% or 19.74% to the Prime rate.* Rate in effect 10/01/2009. Your cash APR may vary quarterly. The rate will be determined by adding 21.65% to the Prime rate.* Rate in effect 10/01/2009. Your transfer APR may vary quarterly. The rate will be determined by adding 11.74%, 14.74% or 19.74% to the Prime rate.* Rate in effect 10/01/2009. Your default APR may vary quarterly. The rate will be determined by adding 26.15% to the Prime rate. * Rate in effect 10/01/2009.
Grace period for repayment of the balance for purchases	25 days from the date of the periodic statement on new purchases (provided you have paid your previous balance in full by the due date).
Method of computing the balance for purchases	Average daily balance (including new purchases).
Minimum finance charge	For each Billing Period that your Account is subject to a finance charge, a minimum total FINANCE CHARGE of $0.50 will be imposed.
Membership fee	None.
Miscellaneous fees	Cash advance fee: 3% of amount of the cash advance, but not less than $10. Transfer fee: None. Late payment fee: Your late payment fee will be based on the amount of your account balance at the time the fee is applied. Balance of $0 - $99.99 = $15 fee; balance of $100 - $249.99 = $29 fee; balance of $250 or more = $39 fee. Over-the-credit-limit fee: $39.

Returned payment fee: $39.

Things You Should Know About This Card

◊ How Do You Determine My APRs?

You will receive the lowest rate for which you qualify from the range of rates listed above following our review of your credit history and information furnished by you. We will provide your final rate information before we send your card.

♦ What Will My APR Be If I Transfer A Balance?

Any balances that you successfully transfer on or before May 1, 2010, will receive your Transfer APR and will be posted to the Special Transfer segment of your account. All subsequent balances that you transfer will receive your Purchase APR and will be posted to the Purchase segment of your account unless the transfer is made in connection with a Future Offer from us. Please remember that Future Offers, as discussed below, may include different terms.

‡ Can You Increase My APRs?

Your variable APRs can go up or down as the Prime rate goes up or down. Your introductory APRs may expire and increase to your non-introductory APRs if your payment is received late (3 or more days after your payment due date). We may increase your APRs to the Default APR disclosed above if your payment is received late twice within any 12 billing periods. If we increase your APRs to the Default APR, we may return you to your non-introductory APRs if you make at least the minimum payment on time for 12 consecutive billing periods. In the future, we may increase your APRs if market conditions change. If we increase your APRs for any reason other than an increase in the Prime rate or if you paid late as disclosed above, we will notify you in writing of your options in advance, including the right to opt out.

What About Any Other Terms Of My Account?

We may change any other terms of your account, other than APRs, at any time. If we change any of these terms, we will notify you in writing of your options in advance, including the right to opt out of certain changes.

Do You Engage In Universal Default?

We do not engage in a practice known as “universal default.” Universal default permits a credit card company to increase your APRs simply because you fail to make a payment on a loan with another lender or your credit history contains other negative information.

How Do You Calculate My Variable Rate?

* We calculate your variable rates by adding a percentage to the Prime rate published in the “Money Rates” section of The Wall Street Journal on the 25^th day of December, March, June and September. If the Journal is not published on that day, then see the immediately preceding edition. If Prime changes, your new rate will take effect on the first day of your January, April, July and October billing period.

What About Future Offers?

At any time in the future, we may extend new offers in connection with this account, including opportunities to transfer additional balances. These new products and services may have different APRs, fees and other terms. We will provide any different terms when we make you the new offer, and you may accept or decline any such offer.

How Do You Determine My Credit Line?

We determine your credit line based on your credit history and information you provide on your application. If your application is approved, you will receive a credit line between $500 and $20,000.

How Do You Apply My Payment?

We will apply your payment to pay off lower-rate balances before paying off higher-rate balances.

How Do You Calculate My Minimum Payment?

If your balance is less than $15, your minimum payment will equal your balance. Otherwise, your minimum payment will be the greater of $15 or 1% of your balance plus interest (periodic finance charges) and late payment fees.

How Do I Get A Year-End Summary?

Your Capital One Small Business Card account must be open and in good standing (not overlimit or past due) and must have had at least one transaction in the last calendar year to receive a Year-End Summary.

Things You Should Know About This Rewards Program

How Do I Earn Rewards?

If you choose Travel & Lodging
You’ll earn 3 miles per dollar on all net purchases (purchases minus any credits or returns) made at merchants that classify themselves as travel-related service providers (for example: airlines, hotels, trains, car rentals, cruise lines, cabs/limos, buses, travel agents, timeshares). You will earn 1 mile per dollar on your other net purchases only; or

If you choose Gas & Service Stations

You’ll earn 3 miles per dollar on all net purchases (purchases minus any credits or returns) made at gas stations and 1 mile per dollar on your other net purchases only; or

If you choose Building Supplies & Hardware

You’ll earn 3 miles per dollar on all net purchases (purchases minus any credits or returns) made on Construction Materials, for example, purchases made at Home Supply Warehouse Stores, Lumber and Building Material Stores, Hardware Stores, Floor Covering Stores, and Glass, Paint and Wallpaper Stores. You will earn 1 mile per dollar on your other net purchases only; or

If you choose Computers & Electronics

You’ll earn 3 miles per dollar on all net purchases (purchases minus any credits or returns) made on Information Technology products and services, for example, on purchases made at merchants that specialize in Computers, Peripheral Equipment and Software, Telecommunications Equipment, Computer Network/Information Services, Electronics Stores, Computer Programming, Data Processing and Integrated Systems Design, and Computer Maintenance, Repair and Service. You will earn 1 mile per dollar on your other net purchases only; or

If you choose Office Supplies & Furniture

You’ll earn 3 miles per dollar on all net purchases (purchases minus any credits or returns) made at merchants that classify themselves as office supply and furniture providers. You will earn 1 mile per dollar on your other net purchases only; or

If you choose Advertising & Shipping

You’ll earn 3 miles per dollar on all net purchases (purchases minus any credits or returns) at stores that specialize in providing marketing, postage, or shipping services (for example, purchases made at advertisement agencies, copy, print, and publishing shops, and shipping and postage purchases), and 1 mile per dollar on your other net purchases only.

The following applies to all programs

Please note: Merchants don’t always identify or bill transactions by the correct merchant category code, which could impact the amount of the miles you earn. Capital One is not responsible for merchant category code errors by merchants. Checks used to access your account will not earn rewards.

Will My Rewards Ever Expire?

Your rewards are yours for the life of the account – they won’t expire. But if your account is closed, you’ll lose any rewards you haven’t redeemed.

Is There A Limit To The Amount Of Rewards I Can Earn?

There’s no cap to the amount of rewards you can earn on purchases.

What Happens To My Rewards If I Pay Late?

If your account does not have late payment fees, you will not lose any rewards for making late payments. If a late fee is charged to your account, you will lose any rewards applied to your rewards balance during the billing cycle containing the fee. Please see the important disclosures to determine whether your offer includes fees for late payments.

How Do I Redeem My Rewards For Travel?

There are two ways to redeem your miles:

1) You can contact our Rewards Center toll free to book your travel. Or,

2) You can purchase your travel (anywhere you choose–online, in person, or over the phone) with your No Hassle Rewards card. You’ll then have 90 days from the date your travel purchase posts to your account to call our Rewards Center or redeem your miles online at www.capitalone.com/nohasslerewards to get reimbursed for the cost of the travel purchase.

The number of miles you need for travel varies, and depends on the cost of the travel purchase. Here’s how it works:

Cost of travel	Number of No Hassle Rewards needed
Up to $150	15,000 miles
$150.01 to $350	35,000 miles
$350.01 to $600	60,000 miles
$600.01 and greater	the cost of travel x 100

We include all associated taxes, airport security fees, fuel surcharges and other usage fees required for travel in the overall calculation to determine how many miles are required for redemption. You need to have the amount of rewards required in order to redeem for your selected travel purchase – partial redemptions will not be processed.

Can I Redeem My Rewards For Something Other Than Travel?

You can also redeem your miles for cash, gift cards, brand-name merchandise and more. Rates for these other redemption options vary and are subject to change without notice. If you received this offer in the mail, you can call the application number provided for additional information regarding these redemption rates. If you are reviewing this offer online, you can call the phone number provided to get additional information regarding these redemption rates. As an Account holder, you can visit www.capitalone.com/nohasslerewards to register your account and see a complete description of current redemption offers.

Is My Account Eligible To Transfer Rewards?

Yes. You can transfer your rewards between this account and other U.S. Miles or Points accounts. Please note: while you may receive rewards transfers from U.S. Cash accounts, you may not transfer rewards to them.

ADDITIONAL DISCLOSURES & TERMS AND CONDITIONS

The Business Signer and the Business, through the Business Signer, hereafter collectively referred to as “we”, hereby

Apply to Capital One Bank (USA), N.A. (Capital One^®) and request that Capital One establish a Capital One Small Business Credit Card account (“Account”) and issue a credit card on the Account to the Business Signer whose signature appears on this application and to all “Authorized Users” for whom additional cards are requested.
Agree to be bound by the terms and conditions of the Customer Agreement and Addendum, and future revisions thereof that will be sent to us after the account is opened, including the provision therein that the Customer Agreement and the Account will be governed by Virginia and federal law; Arbitration: We understand that the Customer Agreement contains an Arbitration Provision that may limit our legal rights, including our right to go to court, to have a jury trial, and to participate in class actions.
Acknowledge and agree that all cards and convenience checks will be used solely for business or commercial purposes and not for personal, family or household purposes.
Agree that the Business and the Business Signer will be liable for all transactions made with all cards and convenience checks on the Account.
Acknowledge that each Authorized User is duly employed by the Business as of the date a card is requested for such Authorized User.
Agree to be individually, jointly and severally liable for all charges to the card(s) issued to the above Authorized Users.
Agree that the Business Signer and the Business, including all Authorized Users, may be contacted by Capital One from time to time regarding all cards and the account as described in the Customer Agreement and Addendum. For example, providing a mobile telephone number in connection with this account expressly permits Capital One to use that number to contact the relevant party. Contact includes receiving calls and messages, including prerecorded messages and calls with an automatic telephone dialer (autodialer), from Capital One and their authorized agents.
Authorize the receipt and exchange of credit information on both the Business Signer and the Business, including the exchange of information between Capital One and affiliates. Our agreement terms (for example, rates and fees) are subject to change. Everything that is stated in this application is true to the best of our knowledge. We understand that the Business Signer and each Authorized User must be 18 years or older and a U.S. citizen or permanent resident alien and that the Business must be a U.S. business to qualify for this offer. In addition, we understand that the Business Signer must hold a position, such as owner or president, having the authority to legally bind the Business. We understand that approval is based upon satisfying Capital One’s credit standards.
Capital One is authorized to check the Business’s credit record and the Business Signer’s credit record and employment history. Capital One maintains the right not to approve this application if the information provided on or with the application is incomplete, inaccurate, or unverifiable, or if Capital One receives this application after the offer has expired. The Business and Business Signer may be ineligible if they have responded to a previous offer for a Small Business Card issued by Capital One within the last 45 days or if they have been approved for a previous offer for a Small Business Card issued by Capital One. The Business and Business Signer understand that Capital One will retain this application whether or not it is approved. This offer is nontransferable and is void to residents of the dependent areas of the U.S.

STATE-SPECIFIC INFORMATION
California Residents:

Applicants: 1) may, after credit approval, use the credit card account up to its credit limit; 2) may be liable for amounts extended under the plan to any joint applicant. As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.

Ohio Residents:

Ohio anti-discrimination laws require creditors to make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on individuals upon request. The Ohio Civil Rights Commission administers these laws.

New York and Vermont Residents:

Capital One may obtain at any time your credit reports, for any legitimate purpose associated with the account or the application or request for an account, including but not limited to reviewing, modifying, renewing and collecting on your account. On your request, you will be informed if such a report was ordered. If so, you will be given the name and address of the consumer reporting agency furnishing the report. New York residents may contact the New York State Banking Department (1-800-518-8866) for a comparative list of credit card rates, fees and grace periods.

Married Wisconsin Residents:

No provision of any marital property agreement, unilateral statement, or court order applying to marital property will adversely affect a creditor’s interests unless, prior to the time credit is granted, the creditor is furnished with a copy of the agreement, statement or court order, or has actual knowledge of the provision.

FRAUD LIABILITY NOTICE

Unauthorized use or $0 fraud liability claims are subject to verification and investigation.

IMPORTANT INFORMATION ABOUT YOUR ACCOUNT
FINANCE CHARGE.

Transactions which are not subject to a grace period are assessed finance charges 1) from the date of the transaction or 2) from the date the transaction is processed to your account or 3) from the first calendar day of the current billing period. Additionally, if you did not pay the “New Balance” from the previous billing period in full, finance charges continue to accrue to your unpaid balance until the unpaid balance is paid in full. This means that you may still owe finance charges, even if you pay the entire New Balance indicated on the front of your statement by the payment due date, but did not do so for the previous month. Unpaid finance charges are added to the applicable segment of your Account. Cash advances (the cash advance segment) and special transfers (if your account includes a special transfer segment) may not avoid finance charges.
Cash Advance, Purchase/Other Charges and Special Transfer or Special Purchase Segments (If Your Account Includes a Special Transfer or Special Purchase Segment). Finance charge is calculated by multiplying the daily balance of each segment of your account (e.g., cash advance, purchase, special transfer, and special purchase) by the corresponding daily periodic rate(s) that has been previously disclosed to you. At the end of each day during the billing period, we apply the daily periodic rate for each segment of your account to the daily balance of each segment. Then at the end of the billing period, we add up the results of these daily calculations to arrive at your periodic finance charge for each segment. We add up the results from each segment to arrive at the total periodic finance charge for your account.
To get the daily balance for each segment of your account, we take the beginning balance for each segment and add any new transactions and any periodic finance charge calculated on the previous day’s balance for that segment. We then subtract any payments or credits posted as of that day that are allocated to that segment. This gives us the separate daily balance for each segment of your account. However, if you paid the New Balance shown on your previous statement in full (or if your new balance was zero or a credit amount), new transactions which post to your purchase or special purchase segments are not added to the daily balances.
To calculate your total finance charge, multiply your average daily balance by the daily periodic rate and by the number of days in the billing period. Due to rounding on a daily basis, there may be a slight variance between this calculation and the amount of finance charge actually assessed.
Determining Daily Periodic Rates. Divide the corresponding Annual Percentage Rates by 365 and round to the nearest 1/100,000th of 1%, not to exceed the maximum allowed by applicable law. If the daily periodic rates and corresponding Annual Percentage Rates increase, the finance charge will increase and your minimum payment may be greater. Refer to the IMPORTANT DISCLOSURES for daily periodic rates and Annual Percentage Rates.

OTHER CHARGES.

Copying Charge: $3.00 for a copy of a Periodic Statement and $13.00 for a copy of a Visa® transaction or $2.00 for a copy of a MasterCard® transaction (fee imposed per copy).

IMPORTANT INFORMATION ABOUT PROCEDURES FOR APPLYING FOR OR OPENING A NEW ACCOUNT:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account. What this means for you: When you apply for or open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you.