MAX CREDIT UNION  
GOLD CREDIT CARD AGREEMENT  
(RETAIN FOR YOUR RECORD) 

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  either  the  VISA  GOLD  card,  the  MASTERCARD  GOLD  credit card, or  both,  and  any  duplicates  and  renewals  we  issue.  Account 
means your VISA GOLD card or MASTERCARD GOLD 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) 325-3678. 
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. For Visa cards, if you tell 
the Credit Union after learning of 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 or theft of the Card, your liability for unauthorized transactions is $50.00 and $500 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 credit card, 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 of the Card to the Credit Union orally or in writing; you demonstrate that you have exercised reasonable care with the Card; you have not reported 
two or more incidents of 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  for  unauthorized  Card  use  is  a  maximum  of  $50.00.  The  term  “unauthorized”  use  does  not  include  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 Maestro, 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 334-279-1122 or 1-800-
279-7535, 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 obligation 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, renewing 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. Monthly Payment. We will mail you a statement every month showing your Previous Balance of purchases and cash advances, the current transactions on 
your  account,  the  remaining  credit  available  under  your  Credit  Line,  the  New  Balances  of  purchases  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 payments  first to the previously billed and 
unpaid  FINANCE  CHARGE  on  cash  advances;  then  to  the  previously  billed  and  unpaid  FINANCE  CHARGE  on  purchases;  then  to  any  late  charge  outstanding 
and/or  any  over  the  limit  charge  outstanding,  if  applicable:  then  the  remainder  of  the  payment  will  be  prorated  and  applied  to  the  cash  advance  and  purchases’ 
outstanding  balances. 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. 

7.  Finance  Charges.  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. Cash advances are always subject to a FINANCE CHARGE from the date they are posted to 
your Account. The FINANCE CHARGE (interest) is calculated at the periodic rate of 0.908% per month (ANNUAL PERCENTAGE RATE of 10.9%), on the average 
daily  principal  balances  of  purchases  and  cash  advances  in  the  Account.  Separate  FINANCE  CHARGES  for  purchases  and  cash  advances  are  determined  by 
multiplying  the  periodic  rate  by  the  separate  average  daily  balance  for  purchases  and  cash  advances.  Each  average  daily  balance  is  determined  by  taking  the 
beginning  balance  (of  cash  advances  and  purchases)  in  your  account  each  day,  adding  any  new  purchases  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 and cash advances to which the periodic rate is then applied. 

8.  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 connection with this Agreement or in connection with any other Agreement you have with us is not true, or (d) we should otherwise feel insecure 
in receiving 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. 

9. Using the Card. You may use your VISA Gold or MASTERCARD Gold card at millions of locations worldwide. In addition, you may obtain cash advances 
from the Credit Union, from other financial institutions participating in the MASTERCARD and/or VISA card program and from automated teller machines (ATMs), 
such as a VISA ATM Network and MASTERCARD ATM Network, which provide access to the individual credit card system. (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. 

10. 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. 

11.  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, 
or 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 government – 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 transaction occurred or when it is 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 conversion and processing imposed by issuer and MasterCard. 

12. Plan Merchant Disputes. We are not responsible for the refusal of any plan merchant or financial institution 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 advertisement 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. 

13.  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 6. 

MAX.GCC                                                                        Page 1 of 2                                                                                          Effective Date:  7/2012 

 
 
 
 
 
 
 
14. Security Agreement. The payment of the Credit Card Account shall be secured by all of my Credit Union accounts, shares and certificates (excluding 
Individual Retirement Accounts) I now have or hereafter may have including all accounts I have a right to withdraw from or an ownership interest in. I am giving 
this interest to secure repayment of my credit card account as well as any other amounts I now owe or will owe the Credit Union. I am giving the Credit Union a 
security interest in all present and future shares in my account I have with the Credit Union or in which I have an interest. I authorize the Credit Union to take 
those funds, shares or certificates and apply it to my debt if I am in default. The Credit Union may, solely at its option, allow me to withdraw a portion of my 
shares without affecting its security interest. Withdrawals may not be allowed if it will reduce the amount of my shares in the Credit Union below the amount of my 
debt. I am 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. 

15. 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. 

16. 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. 

17. Delay in 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. 

18. 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.   

YOUR BILLING RIGHTS 
(KEEP THIS NOTICE FOR FUTURE USE) 

This notice contains important information about your rights and our responsibilities 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. 

ANNUAL PERCENTAGE Rate 
(APR) for Purchases, Balance 
Transfers and Cash Advances 
Variable Rate Information 

How to Avoid Paying Interest on 
Purchases 

Minimum Interest Charge 
For Credit Card Tips from the 
Consumer Financial Protection 
Bureau 

Interest Rates and Interest Charges 

10.90% 

Your APR will not vary in relation to an index. However, all terms of your 
Credit Card Agreement are subject to change with 45 days prior notice. 
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. 
None 
To learn more about factors to consider when applying for or using a 
credit card, visit the website of the Consumer Financial Protection Bureau 
at http://www.consumerfinance.gov/learnmore 

Annual Fee 
Transaction Fees 

Fees 

None 

  Balance Transfer 
  Cash Advance 
  Foreign Transactions 

None 
None 
1% International Transaction Fee 

Penalty Fees 

  Late Payment 

  Over-the Credit Limit 
  Returned Payment 

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 

How  We  Will  Calculate  Your  Balance:  We  use  a  method  called  “Average  Daily 
Balance (including new purchases)”. See your account agreement for more details. 

Billing Rights: Information on your rights to dispute transactions and how to exercise 
those rights is provided in your account agreement. 

MAX.GCC                                                                        Page 2 of 2                                                                                          Effective Date:  7/2012