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Vault8 Credit Card Terms & Conditions

Vault8 Credit Card hereinafter referred to as “the card” is property of Vault8 and Vault8 World the authorizing organization for the card (issuer).

The card is not a standard credit card. It is not an individually based card but a card issued from a master account under a white label program. Cards are not issued to individuals directly. The master account issues cards as a company or group would issue cards to members or employees.

Credit & Personal Information
Vault8 issues cards to Vault8 account holders (members) not based upon credit or personal credit strength. No personal information is taken from the recipient. The card is a number card based upon the Vault8 Member ID number. The name on the card is for use only. So that the card may be used by an individual member. Any authorized holder of the card my use the card.

The card as in above paragraph is not issued by individual name or person or entity named on the card. The card is issued by Member number, clearly printed on the card. Vault8 accounts are numbered accounts and are not by name.
No personal or credit information is collected by Vault8 from Vault8 Safe deposit box holders. Therein there is no personal information collected or retained when applying for the card.

Master Account
The Master Account (MA) may issue cards at their discretion. The MA sets the credit limits for the cards and may change them at any time without notice. The MA is a secured account backed by Vault8 tokens and bitcoin. The MA has sole discretion for whom receives the card. The MA sets all terms and conditions for the card. Vault8 World through Vault8 is the controlling entity for the MA.
Applying for the card.

Anyone Vault8 account holder in good standing may apply for the card. Non members may apply and a Vault8 account will be set up for them. They must meet the terms of ensuring their Vault8 account is in good standing. There is no cost to open a Vault8 account or to apply for the card.

As in the above paragraph there are no costs to apply for the card. You must be 18 years of age.

From the website application form which is incorporated herein:
“Terms & Conditions for the Vault8 Credit Card. Issuance of the Vault8 Credit Card is tied to a Vault8 Member Account. This is not a secured card. The card issued is embossed with the Vault8 Member Number and the Name on the application. To apply you must be 18 years or older. Fees, Interest & Costs. There is no interest for 12 months. There is a yearly maintenance fee of $99; a onetime setup fee $35 and account assurance of $65 and $10 a month to protect against nonpayment of card. Total fees to receive your card $199; to be paid upon approval. Your available credit is the amount you were approved for. See website for full terms and conditions.
By applying you agree to the terms and conditions of the Vault8 Credit Card. You are guaranteed approval for the minimum credit limit.”

Fees & Cost
There is a yearly maintenance fee of $99; a onetime setup fee $35 and account assurance of $65 and $10 a month to protect against nonpayment of card. Total fees to receive your card $199; to be paid upon approval.
The month fee of $10 is deducted from the card available balance.

Monthly Payment
Payments are due on the 1st of each month. There is no grace period for the payments. Any payment not paid on the card by the 1st of each month may result in the card being placed on hold until such time as the card holders makes payment. There is a $100 re-activation fee to remove the hold. While in hold the card cannot be used by the card holder.
If the card is in a hold status for 30 days the card account is closed and the card account and Vault8 account is closed. Any balance of funds in the Vault8 account first goes to satisfaction of the outstanding balance on the card. Once that is satisfied the remaining balance is paid out to the account holder within 30 days.
Payment for the entire outstanding balance on the card must be made each month.

Collateral Vault8 Account
The card holder gives authorization to card issuer to hold the associated Vault8 account as collateral for any outstanding balance on the card.
If the card holder goes into default on payment for an outstanding balance on their card the associated vault8 account the account holder will lose access to their account until such time as the outstanding balance for the card is paid in full to include any fees.

Closure of a Card Account
The card issuer has the right to close any card account for any reason without warning. The card issuer has the right to make a determination that a violation of the terms of the issuance of the card has been violated.
If the card account has been closed due to the violation of any of the terms of issue or violation of the terms of use of their Vault8 account or use thereby any person notwithstanding that of the card holder the issuer has all rights as found within and by law.

Once closure is made it is the sole discretion of the card issuer to keep the account closed or to re-open it under other conditions and terms.

General Terms of use and conditions.
Rights and use of the card are not transferable. The card remains the property of the card issuer for all times here. The card may not be used for all illegal use in any county by their laws and statutes.
The card may be used internationally where it is allowed by law.
The terms and conditions may be changed at anytime without notice by the card issuer.