Minimum Monthly Payments. To avoid a late payment fee, you must pay us at least the minimum payment amount within 15 days after the date and time provided in the billing statement. The monthly minimum payment will equal 2% of the balance on the date the billing cycle closes or $10.00, whichever is greater. If the balance is less than $10.00, your minimum payment will equal that amount.
You also agree to pay any amount which is past due or over your credit limit. In addition to the minimum payment due, you may pay all or any part of the entire outstanding balance on your Account at any time. You can pay down balances faster by paying more than the minimum payment on your Account.
Application of Payments. We will apply your payments first to finance charges, then to fees (if any), and then to the principal balance. All payments in excess of the minimum monthly payment will be applied first to the balance with the highest interest rate, and then to each successive balance with the next highest interest rate, until the payment is exhausted.
Method of Payment. You may pay by check using the remittance coupon on your billing statement, by automatic payment from your Golden 1 checking account, by automatic payment from an account with another financial institution, or online by signing in to your Online Banking account at www.golden1.com. You may also pay in person at any Golden 1 branch. Payments received in person by an employee at a Golden 1 branch no later than close of business on any business day will be credited to your Account effective on that day. Payments received after the close of business on any business day will be credited on the next business day. We do not accept cash payments through the mail. All payments are subject to verification and collection by Golden 1. We may accept and process any payments marked 'paid in full' without losing our rights. All payments must be in U.S. Dollars.
As long as you make your payment in accordance with the instructions in your billing statement by the date and time it is due, we will generally credit the payment to your Account as of the day it is received. If you do not follow our payment instructions, we may not accept your payment or there may be a delay in crediting your Account.
Late or Partial Payments. Any payment that delays the reduction of your balance will increase your total interest costs. Partial payments or prepayments will not delay your next scheduled payment - you will still need to make the minimum scheduled payment by the next scheduled due date to keep your Account current. We may accept late payments, partial payments, checks or money orders marked "payment in full" and such action shall not constitute final settlement of your Account or a waiver or forgiveness of any amounts owing under this Agreement.
Liability for Payments. If your Account is cancelled or closed, whether by you or us, you remain obligated to pay the outstanding balance plus any interest charges, fees and other charges imposed on your Account. Any time your payment is returned for insufficient funds, we may place a temporary freeze on all or part of the credit available to you under this Agreement until your payment is actually collected by us.
FEES AND FOREIGN CURRENCY CONVERSION
Fees. In addition to the interest charges set forth herein as outlined in this Agreement, you agree to also pay any and all fees that you incur as disclosed to you on your Credit Card Account Opening Disclosure or similar disclosures (as may be amended from time to time as allowed by law), or as disclosed to you during the term of your Account.
Foreign Transactions; Currency Conversion. Purchases and cash advances made in foreign currencies will be billed to you in U.S. dollars. The conversion rate in dollars will be a rate selected by the card network from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate the card network itself receives, or the government-mandated rate in effect for the applicable central processing date in each instance. Conversion may occur after the date of the transaction, and the conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or posting date. All transactions processed outside of the United States (which may include internet transactions) will be charged a foreign transaction fee in the amount disclosed on your Credit Card Account Opening Disclosure (as amended from time to time), even if you are located in the United States.
ANNUAL PERCENTAGE RATES AND INTEREST CHARGES
Annual Percentage Rate ('APR'). We use APR to calculate interest charges on your Account. The APR is a variable rate and may increase or decrease based on the U.S. Prime Rate as published in the Money Rates section of The Wall Street Journal . In the event that the Index ceases to be published, changes to the APR will be related to a comparable Index. The APR for purchases, balance transfers, and cash advances, applicable to your Account is determined by adding a Margin, as set forth in the Credit Card Account Opening Disclosure, to the Index in effect as of the first day of each billing cycle.
Any increase or decrease to the APR may result in changes to the number of payments required to repay the unpaid balance.
Interest Charges. You agree to pay interest at the rate(s) disclosed to you at the time you open your Account and as may be changed from time to time periodically in accordance with applicable law. We calculate interest on your Account by applying the periodic rate to the Average Daily Balance. To determine the Average Daily Balance, we take the beginning balance each day, add any new purchases, cash advances, balance transfers or other advances, fees and unpaid interest charges, and subtract any payments, or credits. This gives us the daily balance. Then, we add up all the daily balances for the billing cycle and divide that by the number of days in the billing cycle. This gives us the Average Daily Balance. At the end of each billing cycle, we determine your interest charge by multiplying your Average Daily Balance by the monthly periodic rate (your applicable APR divided by 12). In general, interest charges begin to accrue from the date of transaction or the date the transaction posts to your Account. Interest charges accrue on every unpaid amount until it is paid in full. Interest will be assessed on fees and penalties. Unless otherwise stated, we will charge interest starting on the transaction date for all cash advances and balance transfers. Transaction fees are also included in the calculation of interest charges. If any interest charge is due and not paid, it will be added to the principal and thereafter bear interest as the principal.
Grace Period on Purchases Only: You can avoid interest charges on purchases by paying the entire statement balance for purchases each month by the date on which the payment is due. Otherwise, the balance for purchases on your Account, and subsequent advances from the date they are posted to the Account, will be subject to an interest charge. You cannot avoid interest charges on cash advances, balance transfers and transaction fees; even if you pay the entire cash advance balance or balance transfer balance by the payment due date, you will incur the interest charges accrued from the date the cash advance or balance transfer is posted to your Account.
CANCELLED, LOST,STOLEN, OR SUSPENDED CARDS
Termination; Suspension. We may terminate, cancel, or revoke your Account, suspend your ability to make changes or cancel any feature of your Account or Card at any time, subject to applicable law and notice requirements, even if you are not in default. You may terminate your Account by written notice. Termination by either party shall not affect your obligation to repay any balance on your Account resulting from use of the Card as well as interest charges and fees incurred.
Change-in-Terms. We may change the terms of this Agreement, including the method of calculating the periodic rate, at any time, by written notice, subject to applicable law. Use or activation of the Card constitutes agreement and acceptance of any change in terms, unless applicable law requires otherwise. Our failure to exercise any of our rights or to take any action shall not constitute a waiver of those rights, or an amendment or change in any of the terms of this Agreement.
Effect of Cancellation. Cancellation or revocation of your Card will not affect your obligation to pay any and all amounts due under this Agreement. If your Account is closed or suspended for any reason, you must stop using your Card. You must destroy all cancelled or expired Cards or return them to us upon request. You must also cancel all billing arrangements to the Account including, but not limited to, any automatic payments that you set up using your Card. You will be liable for any automated or recurring charges to your Account even if they are charged after your Account is closed. You can limit your liability by destroying or returning the Card(s) to us and cancelling any automated or recurring charges to your Account.
Unauthorized Use. You agree to take reasonable steps to prevent the unauthorized use of your Card and Account. "Unauthorized use" means the use of the Card by someone other than you who does not have actual, implied or apparent authority for such use, and from which you receive no benefit. For your protection, we highly recommend that you continually monitor your monthly billing statements to identify any unauthorized transactions. You will not be responsible for charges made to your Account that are found by us to be unauthorized if you notify us of such charges within 60 days after the transmittal of the periodic billing statement where such charges appear. If your Card and/or Account is used fraudulently, you agree to assist us in our investigation. Your help includes giving us documents that we ask for and that are acceptable to us.
If Your Card is Lost or Stolen or if an Unauthorized Use Occurs. You agree to notify us immediately if your Card is ever lost or stolen or if an unauthorized use or fraud may have occurred.
To report a lost or stolen card or suspected unauthorized use, please call us at 1-877-465-3361. If you are on vacation or out of the country, Visa offers an emergency credit card replacement service. To contact Visa regarding emergency credit card replacement, please call 1-800-VISA-911 (1-800-8472911), 24 hours a day, 7 days a week. You also agree to assist us in determining the facts, circumstances and other pertinent information relating to any loss, theft or possible unauthorized use of your Card and comply with such procedures as we may require in connection with our investigation.
