CREDIT CARD AGREEMENT
IN THIS AGREEMENT, "YOU" AND "YOUR" MEAN ANY PERSON WHO ACCEPTS THIS AGREEMENT OR USES THE CARD. THE "CARD" MEANS ANY CREDIT CARD ISSUED TO YOU OR THOSE DESIGNATED BY YOU UNDER THE TERMS OF THIS AGREEMENT. "ACCOUNT" MEANS YOUR CREDIT CARD ACCOUNT. "WE", "US", "OUR" AND THE "CREDIT UNION" MEANS GOLDEN 1 CREDIT UNION OR ITS SUCCESSORS. BY USING OR ACTIVATING YOUR CARD, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS SET FORTH HEREIN.
THE GRANTING OF THIS SECURITY INTEREST IS A CONDITION FOR THE ISSUANCE OF CREDIT UNDER THIS AGREEMENT.
YOU SPECIFICALLY GRANT US A CONSENSUAL SECURITY INTEREST IN ALL INDIVIDUAL AND JOINT ACCOUNTS YOU HAVE WITH US NOW AND IN THE FUTURE TO SECURE REPAYMENT OF CREDIT EXTENDED UNDER THIS AGREEMENT. YOU ALSO AGREE THAT WE HAVE SIMILAR STATUTORY LIEN RIGHTS UNDER STATE AND/OR FEDERAL LAW. IF YOU ARE IN DEFAULT, WE CAN APPLY YOUR SHARES TO THE AMOUNT YOU OWE.
Shares and deposits in an Individual Retirement Account or any other account that would lose special tax treatment under state or federal law if given are not subject to this security interest.
YOUR RESPONSIBILITIES
Promise To Pay. You promise to pay us in U.S. dollars for (a) all purchases, cash advances, and balance transfers made by you or anyone whom you authorize to use the Card; (b) all interest charges and all other charges or fees as allowed by law; (c) collection costs and attorney's fees as permitted by applicable law, and any costs incurred in the recovery of the Card as allowed by applicable law; and (d) credit in excess of your credit limit that we may extend to you. We may limit or close your Account, but the terms of this Agreement will apply until you repay us in full.
Joint Accounts. Each of you will be responsible, jointly and severally, for the repayment of amounts owed, regardless of who initiated any transaction under the Account. This means that each party on the joint account will be responsible for their own debt and the entire debt as a whole and for the repayment of amounts owed, regardless of who initiated any transaction under the Account. If you close your joint Account, you will continue to be jointly and severally obligated to repay the outstanding balance of the Account under the terms of this Agreement.
Others Using Your Account. If you request, we may issue Cards to authorized users that allow access your Account. Use of your Account by an authorized user is subject to the terms of this Agreement. You understand that an authorized user will have access to your Account and Account information. You are responsible for any use of your Account by an authorized user or anyone else that you permit to use your Account. You must notify us if you want an authorized user to stop using your Account. If an authorized user is removed from your Account, you will be mailed a new Card with a new number.
Notification of Address Change. You will notify us promptly if you change your address for any reason. In order to prevent identity theft, your identity may need to be verified before we act upon the notification.
USING YOUR ACCOUNT
Your Card. Please sign the Card immediately after you receive it. The Card is valid during the dates provided on the Card. We may replace your Card with another card at any time. You agree to take reasonable steps to prevent the unauthorized use of your Card and Account. Each Card issued on your Account is our property, and you agree to return it to us or destroy it upon our request. Use of your Card is subject to the terms of the Visa Core Rules and Visa Product and Service Rules, as those rules may be revised from time to time.
Using Your Card. You can purchase or lease goods and services from any merchant who honors your Card, and you may obtain cash advances from any Golden 1 branch or other financial institution or Automated Teller Machine ("ATM") that accepts the Card, up to your allowable limit which is included on your periodic statements. You agree not to present your Card or obtain a cash advance for any extension of credit in excess of your available credit limit; however, if you do exceed your credit limit, you agree to make immediate payment sufficient to bring the balance below the credit limit. Certain purchases and cash advances require authorization prior to completion of the transaction. In some cases, you may be asked to provide identification. If our system is not working, we may not be able to authorize a transaction, even though you have sufficient credit available. Also, for security reasons, we may block the use of your Card in certain countries or geographic areas. We will have no liability to you or others if any of these events occur.
Credit Limit. Your credit limit is disclosed to you when you open your Account and on each monthly billing statement. Purchases will not be authorized if they exceed your available credit limit. Your Account balance may exceed your credit limit due to interest and/or fees that are imposed on your Account. You must pay the excess amount immediately. You are responsible for the total balance at all times, even if your balance exceeds your credit limit. We may change your credit limit at any time. If we accept a payment from you in excess of your outstanding balance, your available credit limit will not be increased by the amount of the overpayment, nor will we be required to authorize transactions for an amount in excess of your credit limit.
Personal Identification Number (PIN). We may issue a Personal Identification Number (PIN) for use with your Card. This PIN is confidential and should not be disclosed to anyone. You may use your PIN and your Card to access your Account, and all sums advanced will be added to your Account balance. In the event a use of your PIN constitutes an Electronic Funds Transfer, the terms and conditions of your Electronic Funds Transfer Agreement may affect your rights.
Consumer Purposes. You may use your Account only for personal, family, or household purposes. You are not permitted to use your Account for business or commercial purposes. If you use your Account for business purposes, this Agreement still applies and you must pay us for the transactions incurred. In addition, we may close your Account.
Impermissible Transactions. We prohibit the use of your Account for any transaction that is unlawful under applicable laws. You must not use or try to use your Card and/or Account for Internet gambling or any transactions that are illegal or not permitted by us. Any such use will constitute an event of default under this Agreement. Impermissible transactions include activities that abuse our products and services, including, without limitation, excessive cash-equivalent transactions or a pattern of payments in excess of your outstanding balance, and any other activities deemed by us to be suspicious, fraudulent, dishonest or deceptive. If you use your Account for such transactions, you agree that we will have no liability or responsibility for those transactions. In such case, this Agreement still applies and you must pay us for those transactions according to the terms of this Agreement. You also agree that we will have no liability or responsibility if we decline such transactions. You may also have to reimburse the payment card network and us for any damages and/or expenses resulting from that use. If we have reason to believe that your Card is used for unlawful or fraudulent activities, Internet gambling, or transactions deemed by us impermissible or likely to cause a loss to Golden 1, we may, at our option, restrict or suspend access to your Account or any of its features, or close your Account without prior notice.
Suspension of Electronic Services and Access to Share Accounts. Subject to applicable law, we may suspend some or all electronic services and access to your checking or other account(s) if you become delinquent on any of your credit card or deposit obligations to us or you cause a loss to us. We shall not be liable to you in any regard in connection with such suspension of services.
Third Party or Mobile Devices. Smart phones, tablets, and other electronic devices allow you to store or electronically present your Account information, and engage in credit transactions without presenting your Card (such as through a mobile wallet). Any purchases or transactions made through such third party or mobile devices are covered by this Agreement and subject to its terms and conditions. We do not control third party or mobile devices and cannot guarantee the performance of any such device or any third party. You agree to protect the security of the device the same as you would your Card.
Transaction Limits. Transaction limits, including, without limitation, on cash advances at an ATM, may be imposed for security reasons by us or ATM owners.
Notice Regarding ATM Fees by Others. When you use an ATM not owned by us, you may be charged a fee by the ATM operator of any network used to complete the transaction. You may be charged a fee for a balance inquiry even if you do not complete a funds transfer. Any such fees must be displayed at the ATM or point of sale terminal location.
PAYMENTS AND FEES
Billing Statements. You will receive a billing statement each month there is a balance on your Account. You may receive your billing statements electronically by enrolling in Visa Online Statements by signing on to your online account at www.golden1.com. You may also receive your billing statements in the mail if you do not choose to receive them electronically. Your billing statement will provide instructions for making payments, including the amounts due and the due date for receiving your payment. If applicable, your billing statement will show your minimum payment amount, which includes any past due amounts. Your payment due date is typically the same day of the month every month. You may request a change to your monthly due date.
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.
