VISA CREDIT CARD AGREEMENT AND TRUTH-IN LENDING DISCLOSURE WITH FEDCHOICE FEDERAL CREDIT UNION
IF YOU ACTIVATE OR USE YOUR VISA CREDIT CARD, YOU ACKNOWLEDGE THAT YOU HAVE RECEIVED AND READ THIS AGREEMENT AND DISCLOSURE STATEMENT
In this Agreement and Disclosure Statement ('Agreement') the words, 'you' and 'your,' mean each and all of those who apply for or otherwise are responsible for the VISA card account issued by FedChoice Federal Credit Union. 'Card' means the VISA card issued by FedChoice Federal Credit Union and any duplicates, additional cards and renewals we issue as well as other access devices, such as convenience checks and Account numbers, that we give you to access your Account. 'We', 'us' and 'our' mean FedChoice Federal Credit Union. This Agreement contains the terms and disclosures that apply to your VISA Credit Card Account ('Account') with FedChoice Federal Credit Union and will be binding on you unless you cancel your Account within 30 days after receiving your Card and you have not used or authorized use of your Account. By applying for or using the Card, you agree that we may provide your personal data to VISA U.S.A., its members or their agents for the purpose of providing emergency cash and emergency credit card replacement services.
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases, Balance Transfers and Cash Advances
Paying Interest · Your due date is at least 27 days after the close of each billing cycle. We will not charge you any interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date.
For Credit Card Tips from the Consumer Financial Protection Bureau · To learn more about factors to consider when applying for or using a credit card, visit the website of the Federal Reserve Board at http://www.consumerfinance.gov/learnmore.
Fees
Transaction Fees • Foreign Transactions · 1% of each foreign transaction in U.S. dollars .
Penalty Fees • Late Payment • Returned Payment · Up to $35 Up to $33
How We Will Calculate Your Balance: We use a method called 'average daily balance (including new transactions).' See below for more details.
Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided below.
I
nterest: We will charge and you agree to pay interest calculated by multiplying the monthly average daily balances for purchases and cash advances for your Account by the monthly periodic rate. Balance transfers are considered cash advances. To determine the monthly periodic rate, we divide the APR by 12. The Prime Rate described below is a pricing index and is not the lowest or best interest rate available.
Platinum Accounts : % monthly periodic rate ( % corresponding ANNUAL PERCENTAGE RATE). The APR may increase and decrease 12 times a year and is determined by adding a margin of % to an Index. The new APR will be effective on the first day of the billing cycle following any APR adjustment. An increase in the APR may result in more monthly payments and higher payment amounts. The Index is the highest Prime Rate as published in The Wall Street Journal 'money rates' table on the last business day of each calendar month. In no event will the APR be greater than 18.00%.
Gold Accounts: % monthly periodic rate for the first 6 billing cycles ( % corresponding ANNUAL PERCENTAGE RATE) and then % monthly periodic rate ( % ANNUAL PERCENTAGE RATE).
Share Secured Accounts : % monthly periodic rate ( %corresponding ANNUAL PERCENTAGE RATE). The APR may increase and decrease twice a year on the 1 st of January and July and is determined by adding a margin of 7% to an Index. The new APR will be effective on the first day of the billing cycle following any APR adjustment. An increase in the APR may result in more monthly payments and higher payment amounts. The Index is the highest Prime Rate as published in The Wall Street Journal 'money rates' table 15 days before the first day of January and the first day of July. In no event will the APR be greater than 18.00%.
