Platinum VISA® & Platinum  MasterCard® CREDIT CARD AGREEMENT

(Retain for your records)

In this Agreement, the words “you” and “your” mean each and all of those who have applied for the 
Card, signed the Card, used the Card or authorized someone else to use the Card. ”Card” means the Visa 
card, the MasterCard, or both, and any duplicates and renewals we issue. Account means your Visa card 
or MasterCard credit card Line of Credit Account with us. “We,” “us” and “ours” mean MAX Credit Union. 
If you do not agree to the terms and conditions of this Agreement, you must not use any Card issued to 
you and you must cut all Cards issued to you in half and return them to us. 

1. Responsibility.If we issue you a Card, you agree to repay all debts and the FINANCE CHARGE 
arising from the use of the Card and the Account. For example, you are responsible for charges made by 
yourself, your spouse and minor children. You also agree to be responsible for charges made by anyone 
else to whom you give the Card, and this responsibility continues until the Card is recovered. You cannot 
disclaim responsibility by notifying us, but we will close the Account for new transactions if you so 
request and if you return all Cards. Your obligation to pay the Account balance continues even though an 
agreement, divorce decree or other court judgment to which we are not a party may direct you or one of 
the other persons responsible to pay the Account. Any person using the Card is jointly responsible with 
you for charges he or she makes, but if that person signs the Card, he or she becomes a party to this 
Agreement and is also jointly responsible for all charges on the Account, including yours. You agree the 
Card may not be used for any illegal or unlawful activity or transactions, including but not limited to, 
illegal gambling.

2. Lost Card Notification. If you believe the Card has been lost or stolen, you will immediately 
call us at 1-800-449-7728.

3. Liability for Unauthorized Use.  You may be liable for the unauthorized use of your Card. 
You will not be liable for unauthorized use that occurs after you notify the Credit Union, orally or 
in writing, of the loss, theft, or possible unauthorized use. In any case, your liability will not exceed 
$50.00. If you tell the Credit Union after the loss  or theft of the Card your liability for unauthorized 
transactions using the Visa system is zero. For ATM transactions, card transactions through a non-Visa 
network, Visa Commercial cards, Visa or Plus* ATM or any ATM transactions, or cards issued outside 
the United States, if you tell the Credit Union within two (2) days after learning of the loss  of theft 
of the Card, your liability for unauthorized transactions is $50.00 and $500.00 if you do not tell the 
Credit Union within two (2) business days and if you do not tell us within sixty (60) days after the 
statement was mailed, you may not get back any money you lost if we can prove that we could have 
stopped someone from taking the money had you told us in time. We may require you to provide a 
written statement regarding claims of unauthorized transactions. If we determine that you have been 
grossly negligent or fraudulent in the handling of your account or Card, your liability may increase. For 
MasterCard transactions you will have no liability for unauthorized use if you comply with each of the 
following: you report the loss, theft or possible unauthorized use on your account within the preceding 
twelve months, and your account is in good standing. If you do not meet all of these conditions, your 
liability or unauthorized Card use is a maximum $50.00. The term “unauthorized” does not included 
losses that occur due to any of the following conditions: use of the Card from which you receive a benefit 
or use of the Card by a person with actual, implied, or apparent authority. These limits of liability may be 
exceeded to the extent allowed under applicable law, if we determine that you handled the account in a 
fraudulent or grossly negligent manner. These rules do not apply to Maestros, Cirrus Card transactions 
or other electronic transfers.

4. Credit Line. If we approve your application, we will establish a self-replenishing Line of Credit 
for you and notify you of its amount when we issue the Card. You agree not to let the Account balance 
exceed this approved Credit Line. Each payment you make on the Account will restore your Credit Line 
by the amount of the payment which is applied to principal. You may request an increase in your Credit 
Line by written application to us, or by telephone at 334-260-2600 or 1-800-776-6776, which must be 
approved by a loan officer. By giving you written notice, we may reduce your Credit Line from time to 
time or, with good cause, revoke your Card and terminate this Agreement. Good cause includes your 
failure to comply with this Agreement or our adverse reevaluation of your credit worthiness. You may 
also terminate this Agreement at any time, but termination by either you or us does   not affect your ob-
ligation to pay the Account balance. The Cards remain our property, and you must recover and surrender 
to us all Cards upon our request and upon termination of this Agreement.

5. Credit Information.You authorize us to investigate your credit standing when opening, renew-
ing or reviewing your Account, and you authorize us to disclose information regarding your Account to 
credit bureaus and other creditors who inquire of us about your credit standing.

6. Balance Transfers. This offer applies to balance transfers that post to your Account within 
60 days of account opening. Continue to make all required payments to your other accounts until you 
confirm that the balance transfers were made. Balance transfers may not be used to pay any MAX Credit 
Union Accounts. You may transfer any amount up to your credit available for transfer, which may be 
less than your total credit line. If your balance transfer request will exceed your available credit, we will 
process your transfers for less than the amount requested, in the order requested. You may only make 
balance transfers to accounts that list you as an account holder. 

7. Monthly Payment. We will mail you a statement every month showing your Previous Balance of 
purchases, balance transfers and cash advances, the current transactions on your account, the remaining 
credit available under your Credit Line, the New Balances of purchases, balance transfers and cash 
advances, the Total New Balance, the FINANCE CHARGE due to date, any other billed fees, and the 
Minimum Payment required. Every month you must pay at least the Minimum Payment within 25 days 
of your statement closing date. You may, of course, pay more frequently, pay more than the Minimum 
Payment, or pay the Total New Balance in full, and you will reduce the FINANCE CHARGE by doing 
so. The Minimum Payment will be either (a) 3.00% of your Total New Balance, or $10.00, whichever 
is greater, or (b) your Total New Balance, if it is less than $10.00, plus (c) any portion of the Minimum 
Payment(s) shown on prior statement(s) which remains unpaid. In addition, at any time your total New 
Balance exceeds your Credit Line, you must immediately pay the excess upon our demand. We will apply 
your Minimum Payment Due to pay down balances on your Account in our discretion, unless applicable 
law says we may not. We apply amounts you pay that exceed the Minimum Payment Due to balances 
with higher APRs before balances with lower APRs. If a payment is ever late ten days or more, you will 
be charged a late charge equal to 5.00% of the amount of the scheduled payment in default, with a 
minimum charge of $.50 and a maximum charge of $25.00. You agree a fee of up to $30.00 will be 
added to your card balance, and such a fee will be treated as a purchase including FINANCE CHARGES, 
if a check to pay all or part of the card balance is returned unpaid.

8. Finance Charge.  If you have a zero purchase balance at the beginning of a statement cycle, you 
can avoid a FINANCE CHARGE on purchases billed during the cycle by paying the full amount of the 
New Balance of Purchases within 25 days of your statement closing date. Otherwise, purchases will be 
subject to a FINANCE CHARGE from the date they are posted to your account. Balance transfers and 
cash advances are subject to a FINANCE CHARGE from the transaction date. The FINANCE CHARGE 
(interest) is calculated at the periodic rate and ANNUAL PERCENTAGE RATE disclosed to you on the 
average daily principal balances of purchases, balance transfers and cash advances in the Account. 
Separate FINANCE CHARGES for purchases, balance transfers and cash advances are determined by 
multiplying the periodic rate by the separate average daily balance for purchases, balance transfers and 
cash advances. Each average daily balance is determined by taking the beginning balance of  balance 
transfers, cash advances and purchases in your account each day, adding any new purchases, balance 
transfers or cash advances (whichever is applicable) and subtracting any payments or credit. The 
results are the daily balances. The daily balances are totaled, and divided by the number of days in the 
statement period to produce separate average daily principal balances for purchases, balance transfers 
and cash advances to which the periodic rate is then applied. If you take advantage of the introductory 
balance transfer offer, the amount of the balance transfer will not be subject to a FINANCE CHARGE 
until the end of the promotional period.

9. Default.  You will be in default if you fail to make any Minimum Payment when due. You will also 
be in default if (a) your ability to repay us is materially reduced by a change in your employment, an 
increase in your obligations, bankruptcy or insolvency proceedings involving you, your death or your 
failure to abide by this Agreement; (b) you break any promise you have made to us under this Agreement 
or any other agreement you have with us; (c) any statement you have made in this Agreement, in con-
nection with this Agreement or in con-nection with any other Agreement you have with us is not true; or 
(d) we should otherwise feel insecure in re-ceiving payment of the Account balance for whatever reason. 
If you are in default, we have the right to demand immediate payment of your full Account Balance at 
once without notice to you. In the event of a default, you agree to pay all costs of collecting the amount 
you owe under this agreement including, if the unpaid balance under this plan is greater than Three 
Hundred Dollars ($300.00) at the time of collection, reasonable attorney fees if the debt is referred for 
collection to an attorney who is not our employee and if suit is filed, court costs. 

©2017 MAX. Federally insured by NCUA. For qualified borrowers. Certain restrictions apply. 

Visa  + MasterCard Application 09/2017

MAX CREDIT CARD  APPLICATION 2 of 35

1

Platinum VISA® & Platinum  MasterCard® CREDIT CARD AGREEMENT

(Retain for your records)

15. Security Interest. To secure your Account, you grant us a purchase money security interest 
under the Uniform Commercial Code in any goods you purchase through use of the Card. If you 
default, we will have the right to recover any of these goods which have not been paid for through our 
application of your payments in the manner described in Paragraph 7.

16. Security Agreement. The payment of the Credit Card Account shall be secured by all of your 
Credit Union accounts, shares and certificates (excluding Individual Retirement Accounts) you now have 
or hereafter may have including all accounts you have a right to withdraw from or an ownership interest 
in. You are giving this interest to secure repayment of your credit card account as well as any other 
amounts you now owe or will owe the Credit Union. You are giving the Credit Union a security interest 
in all present and future shares in my account you have with the Credit Union or in which you have an 
interest. You authorize the Credit Union to take those funds, shares or certificates and apply it to your 
debt if you are in default. The Credit Union may, solely at its option, allow you to withdraw a portion of 
your shares without affecting its security interest. Withdrawals may not be allowed if it will reduce the 
amount of your shares in the Credit Union below the amount of your debt. You are not giving a security 
interest in an IRA, SEP, KEOUGH, or any other account which, if pledged, would result in the loss of 
special tax treatment under the Internal Revenue Code.

17. Effect of Agreement. This Agreement is the contract which applies to all transactions on 
your Account even though the sales, cash advances, credit or other slips you sign or receive may contain 
different terms. We  may amend this Agreement from time to time by sending you any advance written 
notice required by law. Any amendment to this Agreement will take effect on the day it is mailed unless 
advance notice is required by law. Your use of the Card thereafter will indicate your agreement to the 
amendments. To the extent the law permits, and we indicate in our notice, amendments will apply to 
your existing Account balance as well as to future transactions.

18. Governing Law. The terms and conditions of this Agreement are governed by and construed in 
accordance with the laws of the State of Alabama and any applicable Federal law.

19. Delay of Enforcement. No delay in enforcement of our rights under this agreement will result 
in any loss of our rights or relieve you of any of your obligation.

20. Invalidity of Provisions and Captions. If any provision of this agreement is deemed 
invalid the rest of this Agreement will remain in full force and effect. The paragraph headings are for 
convenience only and do not form a part of this Agreement.

10. Variable Rate.  Your account is subject to a Variable Rate which is based on the highest Prime 
Rate as published in the Money Rates section of the Wall Street Journal (“Index”) in effect the last 
business day of each month (the Determination Date), plus our Margin. The Index plus the Margin 
equals the Interest Rate. Changes in the Index will cause changes in the Interest Rate and will take effect 
as of the first day of the next statement cycle. Increases or decreases in the Interest Rate will result 
in like increases or decreases in the FINANCE CHARGE, and will affect the amount of the regularly 
scheduled payments that you will be required to make. There is no limit to the amount by which the 
ANNUAL PERCENTAGE RATE can change during any statement cycle other than the maximum and 
minimum ANNUAL PERCENTAGE RATES. The minimum ANNUAL PERCENTAGE RATE that can apply 
is 6.49%, and the maximum ANNUAL PERCENTAGE RATE is 18%.

11. Using the Card. You may use your Visa card and/or MasterCard credit card at millions of 
locations world- wide. In addition, you may obtain cash advances from the Credit Union, from other 
financial institutions participat- ing in the MasterCard credit card and/or Visa Program and from 
automated teller machines (ATMs), such as a Visa ATM Network, which provide access to the Visa ATM 
Network and MasterCard ATM Network. (Not all ATMs provide such access.) You will need to use your 
Personal Identification Number (PIN) to obtain a cash advance from an ATM. The monthly statement 
will identify the merchant, electronic terminal or financial institution at which transactions were made, 
but sales, cash advances, credit or other slips cannot be returned with the statement. You will retain the 
copy of such slips furnished at the time of the transaction in order to verify the monthly statement. We 
may make a reasonable charge for photocopies of slips you request.

12. Returns and Adjustments. Merchants and others who honor the Card may give credit 
for returns or adjustments, and they will do so by sending us a credit slip which we will post to your 
Account. If your credits and payments exceed what you owe us, we will hold and apply this credit 
balance against future purchases and cash advances, or if it is $1 or more, refund it on your written 
request.

13. Foreign Transactions. Payments, purchases and cash advances made in foreign currencies 
will be charged to your account in U.S. dollars. For Visa transactions, the exchange rate between the 
transaction currency and the billing currency used for processing international transactions is a rate 
selected by Visa from the range of rates available in wholesale currency markets for the applicable 
central processing date, which the rate may vary from the rate Visa itself receives, of the government 
mandated rate in effect for the applicable central processing date, plus the 1% International Transaction 
Fee. For MasterCard transactions, the currency conversion procedures includes  the use of either a gov-
ernment-mandated exchange rate, or a wholesale exchange rate selected by MasterCard, and the rate 
MasterCard uses for a particular transaction is a rate selected by MasterCard for applicable currency 
on  the day the transaction is processed, which may differ from the rate applicable on the date the trans-
action occurred or when it posted to the cardholder’s account. Cardholder agrees to pay the converted 
amount to the Issuer in U.S. dollars plus a fee of 1% for the conversion and processing imposed by issuer 
and MasterCard.

14. Plan Merchant Disputes. We are not responsible for the refusal of any plan merchant or 
financial in- stitution to honor your Card. We are subject to claim and defenses (other than tort claims) 
arising out of goods or services you purchase with the Card only if you have made a good faith attempt, 
but have been unable to obtain satisfaction from the plan merchant, and: (a) your purchase was made in 
response to an advertise-ment we sent  or participated in sending you, or (b) your purchase cost more 
than $50 and was made from a plan merchant in  your state or within 100 miles of your home. Any other 
disputes you must resolve directly with the plan merchant.

©2017 MAX. Federally insured by NCUA. For qualified borrowers. Certain restrictions apply. 

Visa  + MasterCard Application 09/2017

MAX CREDIT CARD  APPLICATION 2 of 5

Platinum VISA® & Platinum  MasterCard® BILLING RIGHTS

(Retain for your records)

(KEEP THIS NOTICE FOR FUTURE USE) This notice contains important infomation about your rights and our responsibilites under the Fair Credit Billing Act.

NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR LOAN 
ACCOUNT STATEMENT.  If you think your statement is wrong, or if you need more information 
about a transaction on your statement, write us on a separate sheet at the address listed on your 
statement. Write to us as soon as possible. We must hear from you no later than 60 days after we sent 
you the first statement on which the error or problem appeared. You can telephone us but doing so will 
not preserve your rights.

In your letter, give us the following information: • Your name and account number. • The dollar amount 
of the suspected error. • Describe the error and explain, if you can, why you believe there is an error. If 
you need more information, describe the item you are not sure about. 

If you have authorized us to pay your loan account automatically from your savings or share draft 
account, you can stop the payment on any amount you think is wrong. To stop the payment your letter 
must reach us three business days before the automatic payment is scheduled to occur.

YOUR RIGHTS AND OUR RESPONSIBILITIES AFTER WE RECEIVE YOUR 
WRITTEN NOTICE. We must acknowledge your letter within 30 days, unless we have corrected the 
error by then. Within 90 days, we must either correct the error or explain why we believe the statement 
was correct.

After we receive your letter, we cannot try to collect any amount you question, or report you as 
delinquent. We can continue to send statements to you for the amount you question, including 
FINANCE CHARGES, and we can apply any unpaid amount against your credit limit. You do not have 
to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of 
your statement that are not in question.

If we find that we made a mistake on your statement, you will not have to pay any FINANCE CHARGES 
related to any questioned amount. If we didn’t make a mistake, you may have to pay FINANCE 
CHARGES, and you will have to make up any missed payments on the questioned amount. In either case, 
we will send you a statement of the amount you owe and the date it is due.

If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our 
explanation does not satisfy you and you write to us within ten days telling us that you still refuse to 
pay, we must tell anyone we report you to that you have a question about your statement. And, we must 
tell you the name of anyone we reported you to. We must tell anyone we report you to that the matter 
has been settled between us when it finally is.

If we don’t follow these rules, we can’t collect the first $50 of the questioned amount, even if your 
statement was correct.

SPECIAL RULE FOR CREDIT CARD PURCHASES. If you have a problem with the quality of 
property or services that you purchased with a 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 
property or service. There are two limitations on this right: (a) You must have made the purchase in your 
home state or, if not within your home state, within 100 miles of your current mailing address; and (b) 
The purchase price must have been more than $50.

These limitations do not apply if the credit card issuer owns or operates the merchant, or mailed you the 
advertisement for property or services.

©2017 MAX. Federally insured by NCUA. For qualified borrowers. Certain restrictions apply. 

Visa  + MasterCard Application 09/2017

MAX CREDIT CARD  APPLICATION 2 of 35

3

Platinum VISA® & Platinum  MasterCard®

INTEREST RATES AND INTEREST CHARGES

ANNUAL PERCENTAGE RATE (APR)
for Purchases

Your APR will be 6.49% to 18.00% based on
your creditworthiness when you open your account.

ANNUAL PERCENTAGE RATE (APR)
for Cash Advances

Your APR will be 6.49% to 18.00% based on
your creditworthiness when you open your account.

ANNUAL PERCENTAGE RATE (APR)
for Balance Transfers

Variable Rate Information

How to Avoid Paying Interest on Purchases

0.00% introductory APR for six months, if transfer is 
completed within 60 days of account opening. After that, your 
APR will be between 6.49% and 18.00% based on your 
creditworthiness when you open your account.

Your APR will vary in relation to an index plus a margin of 
6.49%. The index will be the Prime Rate (rounded to the nearest 
1/4 of 1%) and is the highest rate published in the money section 
of the Wall Street Journal.

Your due date is at least 25 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 balance transfers and cash advances on the 
transaction date.

Minimum Interest Charge

None

For Credit Card Tips from the
Consumer Financial Protection Bureau

To learn more about factors to consider when applying for or us-
ing a credit card, visit the website of the Consumer Financial Pro-
tection Bureau at http://www.consumerfinance.gov/learnmore

Annual Fee

Transaction Fees
• Balance Transfer
• Cash Advance
•

Foreign Transaction

Penalty Fees
•

Late Payment

• Over the Credit Limit
• Returned Payment

FEES

None

None
None
1% International Transaction Fee

5% of the amount of the scheduled payment in default, with a 
minimum charge of $0.50 and a maximum charge of $25.00 
None
Up to $30.00

©2017 MAX. Federally insured by NCUA. For qualified borrowers. Certain restrictions apply. 

Visa  + MasterCard Application 09/2017

MAX CREDIT CARD  APPLICATION 2 of 35

4

How We Will Calculate Your Balance: We use a method called “Average Daily Balance (including new purchases)”. See your account agreement for more details.

PLATINUM VISA® & PLATINUM  MASTERCARD® APPLICATION

NO ANNUAL FEES & 
COMPETITIVE RATES 

No interest is charged on card purchases if the 

SWITCHING TO A MAX CREDIT CARD IS EASY!  
Do you have a credit card with another financial institution charging an annual fee or a higher interest rates? Move your account to 

MAX! Once your application is approved, a cash advance (within your line of credit) on your new MAX credit card may be obtained 

balance is paid within 25 days from the date of the 

to pay off your old card. This cash advance then becomes your new balance at MAX. Specific credit limits are established when 

billing cycle. 

card applications are approved. 

For more information, to ask a question or to open a new account today, visit myMAX.com or call 800.776.6776.

           SELECT ONE: 

VISA‰ Credit Card 

MasterCard‰ Credit Card 

                  SAIL Application #

A. TELL US ABOUT YOURSELF - PLEASE PRINT

APPLICANT’S FIRST NAME 

INITIAL  

LAST NAME  

DATE OF BIRTH  

CREDIT UNION ACCOUNT NO. 

JOINT APPLICANT’S FIRST NAME  

INITIAL  

LAST NAME  

DATE OF BIRTH  

CREDIT UNION ACCOUNT NO. 

B. DISCLOSURE CERTIFICATION

By signing this application you acknowledge that you have received the Credit Card Agreement and Statement of Billing Rights and will retain it for your Record. You agree that the terms and conditions which have been set forth in 
the “MAX Credit Union Credit Card Agreement” will govern all aspects and conditions of your use of the card. You are further certifying that all information you provided is true and furnished for the purpose of obtaining credit. You 
also authorize MAX Credit Union to check your credit and employment history and make whatever inquiries necessary in the course of granting credit, reviewing, or collecting any credit extended. All information furnished will be 
used solely in connection with your financial relationship with MAX Credit Union. You understand that the credit union will retain this application whether or not it is approved, and you authorize the credit union to answer questions 
about the credit union’s experience with your credit. You also agree that if you are approved for a VISA or MasterCard Credit Card credit card that your use of that card will bind you to all terms and conditions in the MAX Credit Union 
Visa & MasterCard Credit Card Agreement that you recieve. 

CAUTION - IT IS IMPORTANT THAT YOU THROUGHLY READ THE CONTRACT BEFORE YOU SIGN IT. 

APPLICANT’S SIGNATURE 

DATE 

                          JOINT APPLICANT’S SIGNATURE  

                            DATE

©2017 MAX. Federally insured by NCUA. For qualified borrowers. Certain restrictions apply. 

Visa  + MasterCard Application 09/2017

MAX CREDIT CARD  APPLICATION 2 of 35

5