After we receive your letter, we cannot try to collect any amount you
Interest Rates and Interest Charges
19. Binding Effect. This Agreement is binding upon and enforceable
question, or report you as delinquent. We can continue to bill you for the
Annual Percentage
against your heirs, legal representatives, or successors.
amount you question, including interest charges, and we can apply any
Rate (APR) for
14.9%
VISA@/MASTERCARD
unpaid amount against your credit limit. You do not have to pay any
Purchases
CARDHOLDER AGREEMENT
20. Currency Conversion Rate. If you effect a transaction at a
questioned amount while we are investigating, but you are still obligated
APR for Balance
14.9%
merchant that settles in a currency other than U.S. dollars, VISA®/
to pay the parts of your bill that are not in question.
Transfers
MasterCard® will convert the charge into a U.S. dollar amount.
Please read this agreement carefully and save it for future reference. It
Visa©/MasterCard® will use its currency conversion procedure,
APR for Cash
If we find that we made a mistake on your bill, you will not have to pay
14.9%
contains Regulation Z disclosures and your rights in case of errors or
which is disclosed to institutions that issue the Cards. Currently
any interest charges related to any questioned amount. If we didn't make
Advances
inquiries about your bill.
the currency conversion rate used to determine the transaction
a mistake, you may have to pay interest charges, and you will have to
How to Avoid
Your due date is at least 25 days after the
amount in U.S. dollars for such transactions is generally either a
make up any missed payments on the questioned amount. In either case,
Paying Interest on
close of each billing cycle. We will not
This is the Agreement that covers your /MasterCard Cardholder
government mandated rate or a wholesale rate determined by
we will send you a statement of the amount you owe and the date that it
Purchases
charge you interest on purchases if you pay
Account with First Bank & Trust ("Account"). In this Agreement, the
Visa@/MasterCard® for the processing cycle in which the
is due.
your entire balance by the due date each
words "you" and "your" refer to the person who applied for the Account
transaction is processed. The currency conversion rate used on the
month.
and any Joint Accountholder, if applicable. "We", "us", and "our" refer
processing date may differ from the rate that would have been used
If you fail to pay the amount that we think you owe, we may report you
Minimum Interest
If you are charged interest, the charge will
to First Bank & Trust, Brookings, South Dakota. The word "Card"
on the purchase or cardholder statement posting date.
as delinquent. However, if our explanation does not satisfy you and you
R
Charge
be no less than $.50.
means your VISA Card or MasterCard Card.
Visa@/MasterCard® may impose a 1% Foreign Currency
write to us within ten days telling us that you still refuse to pay, we must
For Credit Card Tips
To learn more about factors to consider
Conversion Fee for all transactions completed in a foreign country
tell anyone we report you to that you have a question about your bill.
from the Federal
with your Credit Card. In the past, the Conversion Fee was
when applying for or using a credit card,
This Agreement is effective when you use the Card or the Account or if
And, we must tell you the name of anyone we reported you to. We must
Reserve Board
visit the website of the Federal Reserve
combined with your total purchase/transaction amount on your
tell anyone we report you to that the matter has been settled between us
you fail to cut your Card in half and return it to us within 30 days after
account statement. The Conversion Fee will be listed as a separate
Board at
the date it is issued to you.
when it finally is.
line item.
http://www.fedralreserve.gov/creditcard.
If we don't follow these rules, we can't collect the first $50.00 of the
Fees
To avoid unauthorized use of your Card, please sign the back of your
questioned amount, even if your bill was correct.
Annual Fee
None
Card immediately.
21. Illegal Transactions. Your Card and Account may be used only
Transaction Fees
1.
for valid and lawful purposes. If you use, or allow someone else to
Using Your Card. You may use your Card or Account to
Special Rule for Credit Card Purchases
Balance Transfer
None
use your Card and Account for any other purpose you will be
purchase or lease goods or services ("Purchases") to obtain cash
Cash Advance
Either $5 or 3% of the
responsible for such use and may be required to reimburse us for
If you have a problem with the quality of property or services that you
loans ("Cash Advances") from any financial institution that
amount of each cash
all amounts or expenses we pay as a result of such use.
purchased with a credit card, and you have tried in good faith to correct
accepts the Card. Any cash equivalents obtained with the Card will
advance, whichever is
the problem with the merchant, you may have the right not to pay the
also be treated as Cash Advances. Cash equivalent transactions
greater.
YOUR BILLING RIGHTS
include but are not limited to wire transfers, money orders
remaining amount due on the property or services. There are two
KEEP THIS NOTICE FOR FUTURE USE
limitations on this right:
Penalty Fees
travelers checques, tax payments, gold bullion purchase, and
Late Payment
Up to $25
gamming transactions or services. If you use your Card or
This notice contains important information about your rights and our
(a)
You must have made the Purchase in your home state or, if not
Returned Payment
Up to $25
Account, you agree to us paying the amount owed to each
responsibilities under the Fair Credit Billing Act.
within your home state, within 100 miles of your current mailing
merchant or financial institution which honored your Card.
address; and
Other Fees
Notify Us In Case of Errors or Questions About Your Bill
If you give your Account number to make a purchase or obtain a
(b) The Purchase price must have been more than $50.00
Account Handling Fee
$25-If it is necessary to
Cash Advance without presenting your Card (such as for a mail
place restrictions on account
If you think your bill is wrong, or if you need more information about a
These limitations do not apply if we own or operate the merchant, or if
order, telephone, or Internet purchase), the legal effect will be the
Statement Copy Fee
$2.50 per page
transaction on your bill, write us [on a separate sheet] at the address
we mailed you the advertisement for the property or services.
same as if the Card itself was used by you.
Reinstatement Fee
$25
listed on your bill. Write to us as soon as possible. We must hear from
you no later than 60 days after we sent you the first bill on which the
Lost/Stolen
$5
If we, at our option, give you a Personal Identification Number
error or problem appeared. You can telephone us, but doing so will not
Replacement Card Fee
(PIN), you may use your Card to obtain a Cash Advance from any
R
preserve your rights.
Automated Teller Machine (ATM) that bears the VISA
How We Will Calculate Your Balance: We use a method called
R
MasterCard or CIRRUS logo. All ATM transactions are
In your letter, give us the following information:
"average daily balance (including new purchases)."
treated under terms of this Agreement the same as Cash Advances.
Your name and account number.
We have the right to restrict your access to any qualified ATM at
The dollar amount of the suspected error.
Billing Rights: Information on your rights to dispute transactions
any time. You should not keep your PIN with your Card. If you
Describe the error and explain, if you can, why you believe there
and how to exercise those rights is provided in your account
believe that anyone has gained unauthorized access to your PIN,
is an error. If you need more information describe the item you
agreement
you should advise us immediately, following the procedures under
are not sure about.
The information about costs of the card described in this application
the heading "Lost or Stolen Card."
If you have authorized us to pay your credit card bill automatically from
is accurate as of 9/11. The information may have changed after this
your savings or checking account, you can stop the payment on any
date. To find out what may have changed, write us at: PO Box
2.
Joint Account. If this is a Joint Account, each person (a) may
amount you think is wrong. To stop the payment your letter must reach
6000, Brookings, SD 57006.
obtain Purchases and Cash Advances (but the total of these cannot
us three business days before the automatic payment is scheduled to
exceed the credit line); (b) will be responsible for paying all
occur.
amounts owed; and (c) can close the Account.
09/11
G-13559
Your Rights and Our Responsibilities After We Receive Your
3.
Credit Line. Your credit line is shown on the folder containing
Written Notice
your Card. Since we may change your credit line from time to
time, your latest credit line will appear on your monthly billing
We must acknowledge your letter within 30 days, unless we have
statement. You agree not to make any Purchases or obtain any
corrected the error by then. Within 90 days, we must either correct the
Cash Advances that would cause the unpaid balance of your
error or explain why we believe the bill was correct.
Account to exceed your credit line. We may honor Purchases and
Cash Advances in excess of your credit line at our sole discretion.
reason or cannot be processed, we may charge a Returned Payment
If we do this Agreement also applies to that excess and you agree
Your Account is not in good standing if at any time we do not
Fee equal to the amount of the Minimum Payment Due up to a
15. Changes in Agreement Terms. We can change any term of this
to pay the excess immediately if we demand that you do so. You
receive at least the Minimum Payment Due by the 60th day after
maximum of $25.00.
Agreement, including the rate at which or manner in which Interest
agree that we may change or cancel your credit line at any time
the Payment Due Date shown on the Monthly Billing Statement.
charges are calculated, at any time upon such notice to you as is
without affecting your obligation to pay amounts that you owe
Account Handling Fee. If you are in default of this Agreement
required by law. At our option, any change will apply both to your
under this Agreement.
9.
INTEREST CHARGES. Your Account is subject to the
and it is necessary for us to place restrictions on your Account, you
new activity and to your outstanding balance when the change is
following interest charges, each of which will be charged to your
may be charged an Account Handling Fee of $25.00. If these
effective. If you do not wish to be subject to the change, you must
4.
Billing Statements. We will promptly send a Monthly Billing
Account as a Purchase:
restrictions cause your Card to be retained and returned to us, you
notify us in writing within 25 days of the effective date of the
Statement at the end of each monthly billing cycle if your Account
agree to pay all charges associated with recovering your Card.
change and close your Account. Use of the Card after the effective
has a debit or credit balance greater than $1.00. The Monthly
Periodic Interest Charges. An INTEREST CHARGE is
date of the change is deemed acceptance of the new terms.
Billing Statement will show the Previous Balance, Purchases and
imposed on Purchases beginning on the date the Purchase is posted
Reinstatement Fee. If we close your Account due to your default
Cash Advances posted during the billing period, any Interest
to your Account. No INTEREST CHARGE will be imposed on
and we later reinstate your Account at your request, you may be a
Charges, and all payments, debits, and credits to your Account
your Purchases if the Previous Balance shown on your Monthly
charged a Reinstatement Fee of $25.00.
16.
Arbitration. "Arbitration" is a means of having an independent
through the Billing Cycle Closing Date. It will also show, among
Billing Statement is zero and you pay your New Balance in full by
third a controversy or
other things, your New Balance, the Minimum Payment Due, and
the Payment Due Date shown on your Monthly Billing Statement.
Statement Copy Fee. If you request a copy of a Monthly Billing
claim or nature co-signer, co-
the Payment Due Date (which will be at least 25 days after the
An INTEREST CHARGE is imposed on Cash Advances
Statement, you may be charged a Statement Copy Fee of $2.50 per
obligor, user or us or our
Billing Cycle Closing Date).
beginning on the date they are obtained and continues until the
page.
employees, representatives
balance of your Account is paid in full. There is no time in which
and out or to agreement,
5.
Lost or Stolen Card. You may be liable for the unauthorized use
you can pay the balance of Cash Advances in order to completely
11. Default/Collection Costs. Your Account will be in default and we
including this is a
of your Card. You will not be liable for unauthorized use that
avoid an INTEREST CHARGE
may demand immediate payment of the entire amount you owe us
contract commerce to the
agents, party of Arbitration guarantor, involving any this resolve arising officers, type arbitration interstate joint Act directors, Dispute. of and agreement. in that between attorneys, A any "Dispute" any authorized way Dispute you You relating and which (or is agree user) other any shall any is this and subject that be
occurs after you notify us through our agent at 1-800-658-3660
without giving you prior notice, if: (a) your Minimum Payment
Federal settled by
orally of the loss, theft, or possible unauthorized use. You may
THE INTEREST CHARGE is determined by multiplying the
Due is not received by the Payment Due Date; (b) you make
binding and
also notify us in writing of loss, theft, or possible unauthorized use
Average Daily Balance for Purchases and for Cash Advances
Purchases or obtain Cash Advances in excess of your credit line;
procedures ("AAA"),
at CARD PROCESSING CENTER, PO Box 3038, Evansville, IN
outstanding during the monthly billing cycle by the monthly
(c) you become insolvent or are a party to a bankruptcy
except as collection
47730. In either case, your maximum liability is $50 for
Periodic Rate. The monthly Periodic Rate for Purchases and Cash
proceeding; (d) in the case of an Account with co-obligors where
actions us we that the
unauthorized charges to your Account made prior to receipt of
Advances is 1.24%, which is equivalent to an ANNUAL
either of you request termination of the other; (e) you or a co-
arbitrator no to and
your oral or written notification.
PERCENTAGE RATE of 14.9%
obligor dies; (f) you provide false information to us, misuse the
will to between the
Account or Card or violate any term of this Agreement; (g) any
parties. to damages
6.
Promise to Pay. By applying for and obtaining credit on your
judgment or lien is filed against you; or (h) we reasonably believe
to has the
Account, you agree jointly and severally, if more than one person
The Average Daily Balance is computed by taking the beginning
that your ability to repay your obligations to us has been materially
ability at law
applies for the Account, to be obligated and pay for all credit
balance of your Account on each day, calculated separately for
impaired. We shall also have the right to all remedies provided by
or to recovery of
obtained on your Account by you or any person you authorize to
Purchases and Cash Advances, adding new Purchases and Cash
the in be arbitrator equity to extent by restricted You Arbitration award has modified by of attorneys' further relating permitted the the all the authority arbitrator. remedies agree American resolving herein in prevailing be to accordance fees by your entered with law. waive otherwise and conduct Account. Judgment the Arbitration party The the in individual any the with sole arbitrator class-wide including claim available You costs upon court the exception Association and disputes for applicable the having of otherwise punitive by the proceedings award arbitration, statute, agree of rules
law including, without limitation, closing or refusing to renew
reasonable as
use your Card, as well as our interest charges and any other fees
Advances and subtracting any payments and credits. Any resulting
your Account and demanding return of your Card(s). If we refer
determined rendered
imposed by us, as provided for in the Agreement. You agree to pay
credit balance is treated as a zero ($0.00) balance. This gives us the
your Account for collections to an attorney who is not our
by an may any jurisdiction
us only in U.S. Dollars drawn on U/S/ financial institutions.
daily balance. The daily balances are then added together and
regularly salaried employee, you agree to pay the reasonable fees
thereof. YOU UNDERSTAND THAT YOU WILL NOT HAVE
divided by the number of days in the billing cycle to get the
of such attorney and, whether or not an attorney is retained, all
THE RIGHT TO GO TO COURT, TO HAVE A JURY TRIAL,
7.
Irregular Payment and Delay in Enforcement, Waivers and
Average Daily Balance.
court and other collection costs (including any amounts actually
TO ENGAGE IN PRE-ARBITRATION DISCOVERY (EXCEPT
Releases. We can accept late payments, partial payments, checks
incurred by us in recovering your Cards(s)).
AS PROVIDED FOR IN THE ARBITRATION RULES), OR TO
and money orders marked "paid in full" or language having the
Minimum Interest Charge. The minimum Periodic INTEREST
PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF
same effect without losing any of our rights under this Agreement.
CHARGE each billing cycle, based on the Periodic Rate, is $.50.
12.
Refusals to Honor Card. We are not responsible for refusals to
ANY CLASS OF CLAIMANTS PERTAINING TO ANY
We can also delay enforcing our rights under this Agreement any
honor your Card. And, except as otherwise required by law or
DISPUTE. OTHER RIGHTS THAT YOU WOULD HAVE IF
number of times without losing them and can waive or delay
Cash Advance Fee. In addition to the INTEREST CHARGE on
regulations, we will not be responsible for merchandise or services
YOU WENT TO COURT MAY ALSO BE UNAVAILABLE IN
enforcing a right against one of you without waiving or delaying it
Cash Advances calculated by application of the Periodic Rate,
purchased through use of your Card.
ARBITRATION. If any portion of this Arbitration Agreement is
as to the other. No waiver by us of any default shall be effective
there is a INTEREST CHARGE of 3% (minimum $5.00),
subsequently deemed unenforceable, the enforceability of any
unless in writing nor operate as a waiver of any other future
whichever is greater, for each Cash Advance posted to your
13. Termination. We may terminate your privileges under the
other provision of this Arbitration Agreement shall not be affected
default. We can release any one of you in whole or in part without
Account that month.
Agreement or cancel or limit your privileges to make Purchases or
and the unenforceable term shall be amended such that it is
affecting your obligation under this Agreement.
obtain Cash Advances at any time, with or without cause, without
enforceable to the maximum extent permitted by law.
Replacement Card Fee. If at any time you request a replacement
notice or liability. If we ask, you must return your Card(s) to us,
8.
Minimum Payments. You may pay your New Balance each
credit card due to loss, damage, theft, or destruction of your
cut in half. You agree that you will not try to make any Purchases
17. Venue and Jurisdiction. You consent to be subject to the
month, or you may pay in monthly installments. If you decide to
current credit card, you may be charged a Replacement Card Fee
or obtain Cash Advances after you have been notified that your
jurisdiction and venue of the Circuit Court for the Third Judicial
pay in monthly installments, you must pay at least the Minimum
of $5.00. No replacement Card will be allowed on the third lost or
privileges to use your Account have been canceled. You may
Circuit, State of South Dakota, and agree that such court shall be
Payment Due shown on your Monthly Billing Statement by the
stolen Card. This fee is an INTEREST CHARGE.
cancel this Agreement by returning all Cards issued on your
the sole and exclusive jurisdiction and venue of all court actions of
Payment Due Date. You may pay more than the Minimum
Account to us, cut in half. Your or our termination or cancellation
disputes or claims arising from or relating to this Agreement or the
Payment Due and may at any time pay your total balance due. We
10. Fees. Your Account is subject to the following fees, each of which
will not affect your existing obligations under this Agreement.
Account relationship.
will apply payments to amounts owed on your Account based on
will be charged to your Account as a Purchase:
applicable law.
14. Notices. We will send statements and any other notices to you at
18. Applicable Law. This Agreement is entered into in the State of
Late Fee. If we do not receive a payment from you in at least the
the address shown in our files. If this is a Joint Account, we can
South Dakota where the decision to grant credit is made and in
If your New Balance is greater than $20.00, then the Minimum
amount of your Minimum Payment Due by the Payment Due Date
notify one of you and the notice will be effective for both of you.
which payments will be received. Therefore, this Agreement will
Payment Due will be the greater of $20.00 or 3% of your total
shown on any Monthly Billing Statement, you may be charged a
Similarly, one of you can notify us and we will consider it to be
be governed by the laws of the State of South Dakota without
outstanding balance, plus any Late Fee, and any amount that
Late Fee equal to the amount of the Minimum Payment Due up to
notice from both of you. You promise to inform us promptly in
giving reference to its conflict of law provisions. If there is any
is delinquent. If the New Balance is less than $20.00 you pay
a maximum of $25.00.
writing of any change in your address. In determining your last
conflict between any of the terms and conditions of this Agreement
only the New Balance. When we calculate the Minimum
known address, we can accept address corrections received from
and applicable law, this Agreement will be considered changed to
Payment Due, it will be rounded to the next highest $5.00
Returned Payment Fee. If you make a payment on your Account
the U.S. Postal Service.
the extent necessary to comply with the law. The other provisions
increment.
and your check or other payment instrument is not honored for any
of the Agreement shall not be affected.