USU Charter Federal Credit Union
Rewards VISA Credit Card, Account/Cardholder Agreement, Disclosure, and Rules

Effective Date 09/15/2011

The following is important information pertaining to our Visa Credit Card accounts. Here, you have the opportunity to read and print the following important information before proceeding to the application by selecting the Accept button at the bottom of this page. By continuing, I/We certify that we have access to a printer and have had the opportunity to print the important information below.

Important Information About Procedures for 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 open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

By accessing (My, Our) credit card account by any method (I, WE), jointly and severally, agree to the terms and conditions that follow in this agreement:

USU Charter Federal Credit Union (USUCCU) has extended to the above account holder (I, WE), an open end credit card line-of-credit. Applicable cards have been issued to the accountholder(s). When I perform a transaction on my credit card, I am extended a loan advance on my credit card line-of-credit as soon as the draft is presented to USUCCU for payment. I agree that any action by USUCCU necessitating a line-of-credit advance shall be deemed an extension of credit. I am also liable for any extensions on my credit card line-of-credit in excess of my applicable line-of-credit limit.

I promise to pay USUCCU all amounts borrowed under this agreement plus a FINANCE CHARGE, if applicable, for amounts due. Each month, USUCCU will send me a statement showing any credit which has been extended under this agreement, payments I have made, and my balance. I can pay off my credit card line-of-credit account balance in full or budget my payments. I will have a grace period of no less than 28 days from the date of my statement to pay the balance of new purchases in full without incurring any finance charge. Payments are due on or before the 28th day of each month. The minimum payment amount due (2.5% of the outstanding balance or $15, whichever is more) will be shown on my statement and may vary from time-to-time depending on any new credit extended under this agreement. Minimum Payment Warning: Making only the minimum payment will increase the amount of interest you pay and the time it takes to repay your balance. The minimum payment amount due will be applied first to balances with the lowest rate of interest and then to each successive balance with the next lowest rate of interest until the minimum required payment is exhausted. A late payment fee will be charged on any payment not paid within 10 days of its due date. The late fee charge isup to$35.

In addition to the principal amount of my credit card account, I will pay a FINANCE CHARGE, if applicable. The FINANCE CHARGE is calculated using the Average Daily Balance Method (Including New Purchases) as follows: We figure the interest charge on your account by applying the periodic rate to the “average daily balance” of your account. To get the “average daily balance” we take the ending principal balance from the previous day (fees are not included), add the purchases, cash advances, loan advances, and other charges posted to your account that day and subtract principal payments and other credit transactions effective that day. Then, we add together the principal balances of the purchases, cash advances, loan advances, and other charges posted to your account for each day of the current billing cycle and divide the total by the number of days in the billing cycle. Your Average Daily Balance (Including New Purchases) is then multiplied by the daily periodic rate times the number of days in the billing cycle to calculate the FINANCE CHARGE due.

The daily periodic rate is 1/365 of the variable ANNUAL PERCENTAGE RATE (APR). The current variable ANNUAL PERCENTAGE RATE (APR) for purchases and balance transfers is 16.00% or 18.00% depending on USUCCU’s standards for creditworthiness. The current variable daily periodic rate for purchases and balance transfers is .043836% or .049315% respectively. The current variable ANNUAL PERCENTAGE RATE (APR) for a cash advance is 18.00 % which is determined by adding 3% to my existing rate unless the maximum 18.00% APR has already been reached. The current variable daily periodic rate for a cash advance is .049315%.

The APR and the periodic rate may vary quarterly under the terms of this agreement. The APR for each quarter shall be determined by using the lowest PRIME RATE charged by banks as published in the Wall Street Journal “Money Rates Table” on the last day of the preceding quarter (March 31, June 30, September 30, and December 31) PLUS a margin which will be determined by USUCCU’s standards for creditworthiness. The FINANCE CHARGE is calculated at the time a payment is made. The maximum APR that can apply is 18 percent. Except for the 18 percent “cap” there is no limit on the amount by which the rate can change during any one-quarter period. I will be required to pay the maximum APR if my account becomes 60 or more days delinquent. The application of the APR will be set forth on my monthly statement.

Foreign Transactions: All Visa credit card and debit card transactions made in foreign countries will be billed to you in US dollars. Conversion to US dollars is determined by (1) a rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate Visa itself receives or (2) the government-mandated rate in effect for the applicable central processing date. A one percent currency conversion fee is also added to these rates.

Share Secured Visa: In order to approve your Visa line-of-credit, USUCCU may require a pledge of shares for the amount of the line-of-credit. If this applies, you agree to sign additional documents as required by the Credit Union to pledge these shares.

I agree that USUCCU may change, according to the law, any terms and/or conditions of this Agreement. Notice of the changes will be mailed to me at the address used by USUCCU for sending my monthly statement.

USUCCU may, but is not required to, periodically obtain updates of my Experian credit report and Fair Isaac score and adjust the ANNUAL PERCENTAGE RATE accordingly depending on USUCCU’s standards for creditworthiness. These adjustments will take effect on the first day of the month after USUCCU obtained my updated Experian credit report and Fair Isaac score. A change in the APR will not change the monthly payment but will cause the term of the agreement to change. An increase in the APR will require more payments; a decrease in the APR will require fewer payments.

I agree that a VISA card may not be used for any illegal transactions. I agree that USUCCU will refuse to authorize all live and Internet gambling VISA card transactions.

I can be charged special handling fees and/or penalties according to this agreement and the schedule of fees I have received.

If I move, I will send USUCCU my new address immediately. USUCCU may declare my entire balance due and payable at once without notice or demand if I miss a payment or break any promise I have made under this Agreement or any other USUCCU Agreement I have. USUCCU may do this if I have made any misrepresentations in applying for credit or if anything happens that indicates to USUCCU that I may be unable or unwilling to repay the loan. If USUCCU is forced to take collection action, I agree to pay all court costs, costs of appeal, collection fees, and reasonable attorney's fees incurred by USUCCU, or as charged by any collection agency.

I agree to let USUCCU know immediately if I have any questions about my monthly statement. The billing error statement I have received tells me what to do if I think USUCCU has made a mistake on my statement.

The written agreement is a final expression of the agreement between the applicant(s) and USUCCU. This written agreement may not be contradicted by evidence of any oral agreement or alleged oral agreement. The applicant(s) acknowledge receiving a copy of this Account/Cardholder Agreement and Disclosure and agree that only the written credit agreement contains the terms applicable to the credit transaction.

DISCLOSURE OF REQUIRED CREDIT CARD INFORMATION

This disclosure and the APRs are effective as of 09/15/11 and are subject to change after that date. To find out what may have changed, please phone (435) 753-4080 or (800) 248-6361, or write to USUCCU VISA DEPT, PO BOX 446, LOGAN, UT 84323-0446.

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).”
See your account/cardholder agreement and disclosure.

YOUR BILLING RIGHTS
(KEEP THIS NOTICE FOR FUTURE USE)
This notice tells you about your rights and our responsibilities under the Fair Credit Billing Act.

What To Do If You Find A Mistake On Your Statement

If you think there is an error on your statement, write to us at: USU CHARTER CREDIT UNION, PO BOX 446, LOGAN, UT 84323-0446.

In your letter, give us the following information:
• Account information: Your name and account number.
• Dollar amount: The dollar amount of the suspected error.
• Description of problem: If you think there is an error on your bill, describe what you believe is wrong and why you believe it is a mistake.

You must contact us:
• Within 60 days after the error appeared on your statement.
• At least 3 business days before an automated payment is scheduled, if you want to stop payment on the amount you think is wrong.

You must notify us of any potential errors in writing. You may call us, but if you do we are not required to investigate any potential errors and you may have to pay the amount in question.

What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:
1. Within 30 days of receiving your letter, we must tell you that we received your letter. We will also tell you if we have already corrected the error.
2. Within 90 days of receiving your letter, we must either correct the error or explain to you why we believe the bill is correct.
While we investigate whether or not there has been an error:

• We cannot try to collect the amount in question, or report you as delinquent on that amount.
• The charge in question may remain on your statement, and we may continue to charge you interest on that amount.
• While you do not have to pay the amount in question, you are responsible for the remainder of your balance.
• We can apply any unpaid amount against your credit limit.

After we finish our investigation, one of two things will happen:
• If we made a mistake: You will not have to pay the amount in question or any interest or other fees related to that amount.
• If we do not believe there was a mistake: You will have to pay the amount in question, along with applicable interest and fees. We will send you a statement of the amount you owe and the date payment is due. We may then report you as delinquent if you do not pay the amount we think you owe.

If you receive our explanation but still believe your bill is wrong, you must write to us within 10 days telling us that you still refuse to pay. If you do so, we cannot report you as delinquent without also reporting that you are questioning your bill. We must tell you the name of anyone to whom we reported you as delinquent, and we must let those organizations know when the matter has been settled between us.

If we do not follow all of the rules above, you do not have to pay the first $50 of the amount you question even if your bill is correct.

Your Rights If You Are Dissatisfied With Your Credit Card Purchases

If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on the purchase.

To use this right, all of the following must be true:
1. The purchase must have been made in your home state or within 100 miles of your current mailing address, and the purchase price must have been more than $50. (Note: Neither of these are necessary if your purchase was based on an advertisement we mailed to you, or if we own the company that sold you the goods or services.)
2. You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that accesses your credit card account do not qualify.
3. You must not yet have fully paid for the purchase.
If all of the criteria above are met and you are still dissatisfied with the purchase, contact us in writing at:
USU CHARTER CREDIT UNION, PO BOX 446, LOGAN, UT 84323-0446.

While we investigate, the same rules apply to the disputed amount as discussed above. After we finish our investigation, we will tell you our decision. At that point, if we think you owe an amount and you do not pay, we may report you as delinquent.

Liability for Unauthorized Use

If you notice the loss or theft of your credit card or a possible unauthorized use of your card, you should write to us immediately at: PO BOX 446, LOGAN, UT 84323-0446 or call us at 435-753-4080 or 800-248-6361.

You may be liable for the unauthorized use of your card when used to access the line of credit directly in an ATM. You will not be liable for unauthorized use that occurs after you notify us. We will credit your account within 5 business days unless we determine that the circumstances or your account history warrant a delay, in which case you will receive credit within 10 business days. In any case, your liability will not exceed $50. 

REWARDS VISA PROGRAM RULES

Congratulations on your choice of the USU Charter Federal Credit Union’s (USUCCU) Rewards Visa program (program). The following program rules apply only to my USUCCU Rewards Visa program and do not apply to any other USUCCU credit card accounts.

As a USUCCU Rewards Visa cardholder I will receive a one percent (1%) rebate on all qualifying purchases of $2,500 or more (individually or in the aggregate) posted to my Rewards Visa credit card account during a calendar year (January 1 – December 31). The rebate applies to purchase transactions only after subtracting any purchase credits. No rebate is earned for cash advances, transfer balances, finance charges, fees, convenience checks, insurance charges, or other increases other than purchases. Any questions regarding the eligibility of a charge for a rebate shall be resolved at the sole discretion of USUCCU. The rebate begins to accrue with purchases posted to my Rewards Visa account beginning on the first day of the billing cycle in which my program begins and ending on the last day of the last billing cycle during the calendar year. The rebate I earn during the previous calendar year will be deposited to my savings account by February 28th of the following calendar year.

USUCCU reserves the right to modify or terminate the program or any part of the program at any time without restriction. However, rebates that I have already accrued under the program during the calendar year will be paid to my savings account by February 28th of the following calendar year.

Rewards VISA Rebate Examples

rev. 09/11

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To continue, select the Online Credit Application.

The Online Credit Application (Rewards VISA Credit Card) will be sent to one of our loan officers and you will be contacted within one business day.