Late Charge
Foreign Currency Transactions
regardless of where you live and use your credit card. This Agreement is made
If the minimum payment due is not received by the Credit Union within 15
If you effect a transaction at a merchant that settles in a currency other than
in California. All credit will be extended from California, and all repayment
days after the payment due date, a late charge of $25 will be imposed.
U.S. dollars, Visa® Incorporated will convert the charge into a U.S. dollar
must be made in California.
Additional Fees and Service Charges
amount. The conversion rate in U.S. dollars will be either at the government-
YOUR BILLING RIGHTS
We may charge additional service charges for the following:
mandated rate or a wholesale currency market rate determined by Visa®
KEEP THIS NOTICE FOR FUTURE USE
each draft copy that you request: $10
for the processing date on which the transaction is processed. The currency
conversion rate used by Visa® on the processing date may differ from the rate
This notice contains important information about your rights and our
additional copies of your monthly billing statement: $2 (per
statement)
that would have been used on the purchase date or the cardholder statement
responsibilities under the Fair Credit Billing Act.
any payment instrument or method including check, in-person, ACH
posting date. The Credit Union has no control over the conversion rate.
Notify Us In Case of Errors or Questions About Your Statement
International Service Fee
If you think your statement is wrong, or if you need more information about
or other electronic transaction returned to us for any reason: $20
researching transactions occurring prior to your most recent account
A fee of 2% will be assessed on international transactions. Transactions
a transaction on your statement, write us on a separate sheet at the address
statement: $20 per hour, minimum $20
acquired in U.S. territories, and transactions originating on U.S. military
listed on your statement as "Send Inquiries To". Write to us as soon as
card replacement fee: $5
bases, at U.S. embassies and at U.S. consulates, are excluded from this fee.
possible. We must hear from you no later than 60 days after we sent you the
convenience check stop payment: $15
first statement on which the error or problem appeared. You can telephone
Convenience Checks
us, but doing so will not preserve your rights.
balance transfer stop payment fee: $15
each request to have a credit card delivered by courier: $20
You may access your credit line by writing checks provided by us for that
In your letter, give us the following information:
purpose. The checks will be honored and paid up to your credit limit as
Your name and account number.
Change in Terms
long as the account is not in default. You may request a stop payment on
The dollar amount of the suspected error.
See International Service Fee. This Agreement is the contract which applies to
a convenience check by phone or in writing. We must receive the request
Describe the error and explain, if you can, why you believe the
SchoolsFirst
all transactions on your Account, even though the sales, Cash Advance, credit,
in time to afford us reasonable opportunity to act upon it under the Credit
charge is an error. If you need more information, describe the item
or other documents you sign, agree to, or receive, may contain different
Union's rules. Oral or telephone requests to stop payment must be confirmed
you are not sure about.
terms. We may amend, modify, add to, or delete from this Agreement any
by you in writing to us within fourteen (14) calendar days after your original
If you have authorized us to pay your credit card bill automatically from your
FEDERAL CREDIT UNION
term, condition, service, or feature at any time, including the amount or
request, and if not so confirmed, such request will be considered to have
savings or checking account, you can stop the payment on any amount you
Serving School Employees as OCTFCU Since 1934
calculation of INTEREST CHARGES. Unless we state otherwise, the change
lapsed after the fourteen day period. We can only honor a stop payment
think is wrong. To stop the payment your letter must reach us three business
will affect any unpaid balance outstanding and any subsequent transactions.
request for 12 months from the date of request. You agree not to hold us
days before the automatic payment is scheduled to occur.
A notice will be mailed to your last known address at least forty-five (45) days
responsible for any claims or liabilities of payees or endorsers on convenience
Your Rights and Our Responsibilities
prior to the effective date of the change as required by federal or other law.
checks for which you have requested payment stopped. You agree not to
After We Receive Your Written Notice.
When a notice of change in terms is required, it may be sent as late as the
hold us responsible for the misrouting or delay of a convenience check due
effective date of the change when the change has been agreed to in writing
to markings placed on the check by you or a prior endorser that obscure any
We must acknowledge your letter within 30 days, unless we have corrected
by you. Rates are based on approved credit.
depository endorsement placed by us or our agent. We may recognize the
the error by then. Within 90 days, we must either correct the error or explain
signature of any borrower or authorized user on this account as authorized to
why we believe the statement was correct.
Cancellation of Card
VISA
You may cancel your card at any time in writing, enclosing all cards on your
transact any business on the account. Convenience checks cannot be used
After we receive your letter, we cannot try to collect any amount you question,
account cut in two. Cancellation of the card will end all charging privileges.
to pay any amount you owe under this Agreement or under any other credit
or report you as delinquent. We can continue to send statements to you
AGREEMENT AND
agreement or account you have with us now or in the future. Convenience
for the amount you question, including finance charges, and we can apply
We have the right to revoke your right to use the credit card at any time.
We can do this with or without cause and without giving you notice. We may
checks are considered cash advances and accrue interest according to the
any unpaid amount against your credit limit. You do not have to pay any
DISCLOSURE
list revoked credit cards in a cancellation bulletin or otherwise inform firms
method described for cash advances under the "CALCULATION OF FINANCE
questioned amount while we are investigating, but you are still obligated
honoring the credit card that the credit card issued to you has been revoked
CHARGES" heading of this disclosure. Transactions made using convenience
to pay the parts of your statement that are not in question. If we find that
or cancelled. If we revoke the credit card or it expires, you must return it to
checks do not earn Rewards points.
we made a mistake on your statement, you will not have to pay any finance
STATEMENT
us if we so request. Also, if a firm that accepts the credit card asks you to
Default/Collection/Attorney's Fees
charges related to any questioned amount. If we did not make a mistake,
surrender an expired or revoked credit card, you must do so. You may not use
You will be in default and understand that all loan credit under this Agreement
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
the credit card after it has expired or after it has been revoked. Cancellation
may be terminated if (1) you do not make periodic payments as required by
or revocation of your credit card will not affect your obligation to pay any
this Agreement, (2) you do not keep any promise made in this Agreement
a statement of the amount you owe and the date that it is due. If you fail
amounts that may be due under this Agreement.
or any other agreement with this Credit Union, (3) any information that you
to pay the amount that we think you owe, we may report you as delinquent.
Illegal Activity
give us to obtain a loan advance is false, (4) any third party attempts by
However, if our explanation does not satisfy you and you write us within ten
legal process to take any property belonging to you, (5) you die, become
days telling us that you still refuse to pay, we must tell anyone we report you
Your Visa® card may not be used for any illegal activity. Internet gambling
insolvent or are a party to any bankruptcy proceeding, or (6) as otherwise
to that you have a question about your statement, and we must tell you the
January 22, 2010
may be illegal in the jurisdiction in which you are located, including the United
provided in this Agreement. If you are in default, we may refuse to make
name of anyone we reported you to. We must tell anyone we report you to
States and its territories. Your card may only be used for legal transactions.
any further advances or refuse charge privileges to you and declare all sums
that the matter has been settled between us when it finally is. If we do not
Display of a payment card logo by an online merchant does not mean
owed under this Agreement immediately due and payable. We may accept
follow these rules, we cannot collect the first $50 of the questioned amount,
that Internet gambling or other transactions are legal in the jurisdiction in
which you are located. You agree to repay, according to the terms of this
late payments or partial payments without losing any of our rights under this
even if your statement was correct.
Agreement, transactions you initiate by use of your card, whether deemed
Agreement. You understand that if you are in default, we may add to your
Special Rule For Credit Card Purchases
legal or illegal.
unpaid balance any reasonable attorney's fees and court costs, all of which
If you have a problem with the quality of property or services that you have
you agree to pay.
purchased with a credit card, and you have tried in good faith to correct the
Internet Transactions
Your Visa® card is automatically enrolled in the Verified by Visa® program. To
Waivers and Severability
problem with the merchant, you may have the right not to pay the remaining
make transactions over the Internet, merchants may request your Verified by
We may waive or decline to enforce any of our rights under this Agreement
amount due on the property or services. There are two limitations on this
without affecting any of our other rights. Should any provision of this
right: (a) you must have made the purchase within your home state, or if
Visa® password to complete the transactions. If a password is not provided,
Agreement be determined to be invalid or unenforceable, that determination
not within your home state, within 100 miles of your current mailing address;
or you do not successfully register with Verified by Visa®, the merchant
shall not affect the validity or enforceability of any other provision.
and (b) the purchase price must have been more than These limitations
may deny the transaction. If the password is incorrect, we may deny the
do not apply if we own or operate the merchant, or if we mailed you the
transaction. You can select or change your password and view additional
Governing Law
advertisement for the property or services.
terms online at www.SchoolsFirstfcu.org by clicking on the Verified by Visa®
This Agreement, your credit card line of credit, as well as our rights and
link under "Related Topics" on the credit card product pages. By allowing
duties and your rights and duties regarding them, will be governed by and
another person to use your Verified by Visa password you are authorizing the
interpreted in accordance with federal law to the fullest extent possible and,
transaction(s) on your account.
to the extent federal law does not apply, in accordance with California law,
M-98587
You agree to the following terms and conditions and any amendments
Please keep your PIN confidential and do not write it on or keep it with your
or purchases and advances per day or deny transactions when we detect
Street Journal on the first business day of the month preceding the start date
thereto.
credit card.
unusual or suspicious activity, even if you have sufficient credit available. We
of each current billing cycle. The tier and margin, and subsequently the APR
Accepting This Agreement
Credit Information
are not liable for failing to approve any transaction and we may, although
you receive, is determined by your creditworthiness. The maximum Annual
Before you sign or use the SchoolsFirst Federal Credit Union Visa® credit card
You agree that we may re-examine and re-evaluate your creditworthiness
we are not required to, approve transactions above your available credit.
Percentage Rate is 18.00%.
issued to you, please read this Agreement thoroughly, because by using the
at any time. You authorize us to obtain, from time to time, information from
We are not liable if a merchant, financial institution, or ATM does not honor
Variable Rate Margins
credit card you will be agreeing with us to the terms and conditions stated in
others, including, but not limited to credit reporting agencies, concerning
your card.
Gold
Rewards
Platinum
this Agreement. If you do not wish to be bound by this Agreement, do not use
you and your credit accounts. You also authorize us to respond to requests
Membership Requirement
the credit card, and write to us and tell us that you wish to cancel your credit
from others and to provide information regarding the status and history of
You must be a Member in good standing to be eligible for a credit card with
Tier 1
Margin
Margin
Margin
card account with us. If you have received a card or checks to access the card
your account with us. However, we are not obligated to release any such
us. We may suspend card privileges, including closing your account, if you do
Purchases
7.25%
8.25%
5.25%
account, destroy them.
information to anyone unless we are required by law to do so. You agree
not maintain your Membership with us in good standing.
Balance Transfers
7.25%
8.25%
5.25%
that we have the right to refuse future advances under your line of credit
Cash Advances
12.25%
13.25%
10.25%
Definitions
Responsibility for Account
In this Agreement the words "you", "your", and "yours" mean each and all
or reduce your credit limit upon re-examination and re-evaluation of your
of the person(s) who apply for and/or use the card, the words "credit card"
creditworthiness, should your creditworthiness change significantly.
You agree to repay us according to the terms of this Agreement for all
Tier 2
Margin
Margin
Margin
purchases, advances, finance charges, fees and collection costs, if any, arising
Purchases
9.25%
10.25%
7.25%
mean the SchoolsFirst Federal Credit Union Visa® credit card, and the words,
Change of Name, Address, Employment, Telephone
from the use of this account by you or any other person you permit to use
Balance Transfers
9.25%
10.25%
7.25%
"we", "our", "us", and "Credit Union" mean the SchoolsFirst Federal Credit
You agree to promptly report to us any change in your name, address,
your card and/or account (even if that person exceeded the amount for which
Cash Advances
14.25%
15.25%
12.25%
Union.
employment, or telephone number.
you gave permission). If you decide to close your account please notify us
Liability of All Cardholders and Authorized Users
Purchases/Cash Advances
orally or in writing and return all card(s) on the account. You remain liable for
Tier 3
Margin
Margin
Margin
You understand that you are liable for the payment of all sums due under
You may access your line of credit by making a purchase at a merchant's
any transactions to the account that we cannot prevent after you notify us.
Purchases
11.25%
12.25%
9.25%
this Agreement. If there is more than one borrower or authorized user on
location that accepts the credit card, by requesting a Balance Transfer orally
Any person using the account and/or card is jointly and severally responsible
Balance Transfers
11.25%
12.25%
9.25%
this account, each person, individually, and all persons jointly are obligated
or electronically, or in writing, or by making a cash advance. We will not be
for all charges on the account.
Cash Advances
16.25%
17.25%
14.25%
to repay all sums due under this Agreement. You agree that all statements
responsible or liable to you should anyone refuse to accept or honor your
Lost, Stolen or Unauthorized Use
made in your application for your credit card were for the purpose of obtaining
card, or should anyone retain your card and not return it to you. You may
It is important to continually monitor your monthly statements to identify any
Tier 4
Margin
Margin
Margin
credit and are true, correct, and complete to the best of your knowledge and
request cash advances under this Agreement by writing a SchoolsFirst FCU
unauthorized transactions. If your card is lost or stolen, or you believe that
Purchases
17.90%
17.90%
17.90%
belief.
convenience check; by making a written, telephone or electronic request to
someone has accessed or may access money from your card without your
Balance Transfers
17.90%
17.90%
17.90%
Cash Advances
17.90%
17.90%
17.90%
Credit Limit
us; or by requesting a cash advance at a financial institution or an ATM that
permission, notify us immediately. If you notice unauthorized or fraudulent
This Agreement establishes a credit card account for you with an open end line
accepts the credit card. You agree to repay all advances for purchases and
activity on your card, notify us immediately. Notify us at the phone number or
of credit. We will establish a credit limit for you, and may increase or decrease
cash advances made to you or at the request of a joint borrower or authorized
address listed on your statement under "How to Reach Us". Calling us is the
Annual Percentage Rate Penalty Rate
that credit limit from time to time. We have provided you with a separate
user under this Agreement, and you understand that all purchases and cash
best way to report any problems or get questions answered. Your liability may
If your credit card account is delinquent 60 days, we will increase your Annual
written disclosure stating the credit limit for purchases and cash advances on
advances will be subject to the terms of this Agreement. You agree not to
be limited subject to federal law and Visa regulations. In the event your card
Percentage Rate on the entire balance to 18.00%. This rate will remain in
your account, and that disclosure is made a part of this Agreement by this
request advances or make purchases or use your account in any way that
is used fraudulently, you agree to assist us in our investigation and you agree
effect until such time as your VISA account reflects a satisfactory payment
reference. Your monthly statements will show the amount of credit available
would make the unpaid balance of your account exceed your credit limit. Cash
to sign an affidavit of fraud and forgery.
history for a minimum of 6 consecutive months from the date of the increase.
to you for purchases and cash advances as of the statement date. We will
advances cannot be used to pay any amount you owe under this Agreement
At that time, your credit card rate will be lowered to reflect your original tier.
Rewards Cards Terms and Conditions
give you written notice of any change in your credit limit. If your credit limit is
or under any other credit agreement or account you have with us now or in
the future.
If you are participating in a Visa Rewards Card program, we have provided
Monthly Periodic Rate
decreased for any reason, any subsequent request for a credit limit increase
you with a separate written disclosure stating additional Terms and Conditions
The Monthly Periodic Rate is determined by dividing the Annual Percentage
will be subject to credit application and approval. You agree not to use your
Minimum Monthly Payments
on your Rewards Card account, and that disclosure is made part of this
Rate by twelve (12 months in a year).
account in any way which would make the unpaid balance of your account
You will receive a statement for each monthly billing period in which your
Agreement by this reference.
Calculation of Interest Charges
or cash advances on your account exceed your credit limit. You also agree
to pay us the amount of any transactions on your account in excess of your
account has an outstanding or credit balance. The minimum monthly payment
Rewards Card Annual Fee
Interest Charges for each monthly billing cycle will be calculated by
on your account is calculated at 2% of the statement balance or $25, whichever
You will be charged an annual fee in the amount of $25.00, beginning in the
multiplying the Average Adjusted Daily Balance by the Monthly Periodic
credit limit along with your regular minimum payment at your next scheduled
payment due date. Purchases and advances are subject to daily limits that
is greater. If your account balance is greater than your limit or your account is
twelfth month following the account open date, which will be your "anniversary
Rate. We will calculate your Average Adjusted Daily Balance as follows: We
may restrict the full use of your Credit Limit.
past due, you will be billed for the greater of: the minimum monthly payment;
date." The fee will be assessed yearly thereafter, in your anniversary month.
take the outstanding balance (all amounts you owe) at the start of the day.
or the past due amount; or the Overlimit amount. If the account is not paid
Then, in the sequence in which the amounts post to your account, we add
down to the limit or below, the account is subject to closure. The minimum
Annual Percentage Rate
Pledges of Shares
the amount(s) of all debits and subtract the amount(s) of all payments and
You grant us a consensual security interest in your accounts and have pledged
monthly payment must be received at the payment center on or before the
SchoolsFirst FCU has a loan program, which features a range of interest
credits which post to your account that day. After applying payments and
funds on deposit in your account (except IRA or Deferred Compensation) to
payment due date reflected on the front of your monthly billing statement or
rates for some of its consumer loans. A rate is based on a variety of factors,
credits, we subtract any amount of late charge, interest charge, and any other
satisfy debts that are due us. We reserve the right to exercise this pledge of
the payment may be considered past due. Payments made in excess of the
including the applicant's credit rating.
charges that remain unpaid.
shares for liabilities owed to us against any account held by you individually or
minimum payment will be applied first to the balance with the highest interest
This Agreement establishes the Annual Percentage Rate for both Purchases
The result is the adjusted daily balance for that day. We add together all the
jointly with any other person(s) to the fullest extent permitted by law.
rate, then successively to each lower interest rate until the excess payment
and Cash Advances under this credit card program. We have provided you
adjusted daily balances for each day in the billing cycle and divide the total
amount is exhausted. If you have a credit balance on your account due to
with a separate written disclosure stating the Annual Percentage Rate that
Security
by the number of days in the billing cycle. The result is the Average Adjusted
This paragraph applies only if you have a "share secured credit card", which
merchant credits, adjustments or overpayments, we will hold and apply this
will apply to purchases and cash advances on your account. That disclosure is
Daily Balance for that billing cycle.
credit balance against future purchases and cash advances, or refund it at
made part of this Agreement by this reference.
requires a separate security agreement. To secure your obligation, you grant
your written request. An increase or decrease in the Annual Percentage Rate
Interest Charges are imposed only if you do not pay in full the new balance for
us a security interest in your deposit account at the Credit Union, under a
See Annual Percentage Rate Variable Rate Credit Card Programs
may result in an increase or decrease in your monthly payment.
Purchases shown on your Periodic Statement within 25 days of the end of the
SchoolsFirst Federal Credit Union Visa Card Security Agreement that you have
below for additional information on variable rate cards.
statement period. However, interest charges will be assessed and will accrue
signed. The Security Agreement is incorporated into and made part of this
Promise to Pay
See Annual Percentage Rate Penalty Rate below for additional
on any cash advance (see Purchases/Cash Advances) from the date that
Agreement and Disclosure Statement by this reference.
You agree to pay us, at the payment address stated on the front of your
information.
such cash advance transaction is posted to your account to the date the
Personal Identification Number
monthly billing statement, all sums which have been accumulated on your
cash advance balance is paid in full or the Statement Closing Date whichever
account by you or others with your permission, together with any finance
Annual Percentage Rate - Variable Rate Credit Card Programs
A Personal Identification Number (PIN) may be obtained by selecting your
comes first, even if payment of the entire New Balance is received by us by
own PIN at any SchoolsFirst FCU branch or by calling (877) 315-3483. This
charges, late charges and any other service charges computed on your
The Annual Percentage Rate is subject to change monthly on the first day
the Payment Due Date. In other words, there is no time period within which
PIN may be used by you with your credit card to obtain a cash advance on
account as set forth in this Agreement.
of the billing cycle. Note that an increase in the Annual Percentage Rate may
credit extended to you by a cash advance may be repaid without incurring a
result in greater interest charges and a larger monthly payment.
your account at any Automated Teller Machine (ATM) displaying the Visa®
Authorizations
interest charge.
logo or to make purchases at any designated point of sale (POS) machine.
Most transactions require approval of funds. Approvals result in placing a hold
The rate is determined by adding an index plus a margin. The index is the
against your credit limit. We may limit the number or amount of approvals
highest "Prime Rate" as reported in the "Money Rates" tables of The Wall
SchoolsFirst FCU Visa Disclosure
Interest Rates and Interest Charges
Annual Percentage Rate (APR) for
8.50%- 17.90%
Purchases
This APR will vary with the market based on the Prime Rate.
Annual Percentage Rate (APR) for
13.90%
Secured Card Purchases, Balance
Transfers and Cash Advances
APR for Balance Transfers
8.50%-17.90%
This APR will vary with the market based on the Prime Rate.
APR for Cash Advances
13.50%-17.90%
This APR will vary with the market based on the Prime Rate.
Penalty APR and When it Applies
17.90%
This APR may be applied to your account if you:
1) Make your payment 60 days late or:
2) A returned payment causes your account to become 60 days
late.
How Long will the penalty APR Apply? : If your APR is increased for
this reason, the Penalty APR will apply until you make 6 consecutive
minimum payments when due and do not exceed your credit limit during
that time period.
Paying Interest
Your due date is at least 25 days after the close of each billing cycle. We
will not charge you interest on purchases if you pay your entire balance by
the due date each month and your previous balance is zero or a credit
balance. We will begin charging interest on cash advances, balance
transfers and convenience checks on the date they are posted to your
account.
Minimum Interest Charge
None
For Credit Card Tips from the Federal
To learn more about factors to consider when applying for or using a credit
Reserve Board
card, visit the website of the Federal Reserve Board at
http://www.federalreserve.gov/creditcard.
Fees
Annual Fee
Visa Gold & Visa Platinum:
$0
Visa Rewards:
$25 (waived for the 1st year)
Transaction Fees
Balance Transfer
$0.00
Cash Advance
$0.00
Foreign Transactions
2% of the transaction in U.S. Dollars
Penalty Fees
Late Payment
$25 imposed 15 days after the due date
Returned Payment
$20
Other Fees
Express Card
$20
Card Replacement
$5
Stop Payment
$15 for Convenience checks or Balance Transfer orders
How We Will Calculate Your Balance: We use a method called "average adjusted daily balance (including
new purchases)."
Loss of Introductory APR: We may end your introductory APR (if any) if your payment is 60 days late.
Billing Rights: Information on your rights to dispute transactions is provided in your account agreement