CREDIT CARD AGREEMENT
AND ACCOUNT OPENING
DISCLOSURES

17. FOREIGN TRANSACTIONS: Purchases and cash advances
made in foreign countries and foreign currencies will be billed to you
in U.S. dollars. An International Transaction Fee up to 1% will be
assessed on all transactions where the merchant country differs from
the country of the card issuer. The converted transaction will be shown
separately  from  the  International  Transaction  Fee  on  your  billing
statement. This fee will be assessed on all international purchases,
credit  vouchers,  and  cash  disbursements.  The  exchange  rate  for
transactions in foreign currency will be a rate selected by Visa from
the range of rates available in wholesale currency markets for the
applicable central processing date, which may vary from the rate Visa
itself  receives,  or  the  government  mandated  rate  in  effect  for  the
applicable central processing date plus the International Transaction
Fee of up to 1%.
18. 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 claims and defenses (other than tort claims) as set forth
herein under, “Special Rules for Credit Card Purchases.” You must
resolve any other disputes directly with the plan merchant. We may limit
the dollar amount and/or the number of transactions which may be
approved in one day. If we detect unusual or suspicious activity on your
account, we may temporarily suspend your credit privileges until we
can verify the activity. We may approve transactions which cause the
balance to exceed your credit line without waiving any of our rights to
this Agreement.
19. SECURITY INTEREST: Except for real estate loans, collateral
securing other loans with SECU may also be used to secure this VISA
account. If you have any other loans from SECU, or take out other loans
with SECU in the future, collateral securing those other loans will also
secure  the  obligations  under  this  Agreement.  However,  unless  you
expressly agree otherwise, your household goods and dwelling will not
secure your obligations under this Agreement even if SECU has or later
acquires a security interest in the household goods or a mortgage on the
dwelling.

You have given a Consensual Security Interest incorporated by
reference herein, in your SECU Savings or Money Manager
account, as security for any advances to you or on your behalf
on any SECU VISA Credit Card, excepting those accounts that
have an adverse tax consequence.

20. CASH ADVANCES: Cash advances can be obtained through an
ATM,  convenience  checks,  SECU  branches  and  other  financial
institutions. Upon your written direction or through SECU’s website,
cash advances may be made against your VISA account and applied to
any  of  your  SECU  share  accounts,  or  other  accounts  in  the  same
manner as if the cash advance were paid to you. Deposit of the cash
advance to any of your SECU accounts obligates you to the repayment
of the cash advance per this Agreement.
21. BALANCE TRANSFER(S): Balance Transfers are treated as a
cash advance. Finance charges for balance transfers will begin to accrue
from date of the transaction and continue to accrue until payment in full
is credited to your account. Total value of transfer request(s) cannot
exceed credit line and/or credit availability whichever is less. SECU
sends either full or partial payment to your creditors in the order you
list them. Allow at least 2 weeks from request date for processing of the
balance transfer. Continue paying each creditor until the transfer appears
as a credit. Do not transfer any disputed purchase or charge because you
may lose dispute rights.
22. EFFECT OF AGREEMENT: This agreement is the contract that
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 the advance written notice required by Federal and State
law. Your use of the card after the effective date of the amendment

will indicate your agreement to the amendment.
23. GOVERNING LAW: This agreement is governed by the Annotated
Code  of  Maryland,  Financial  Institutions  Article,  Title  6  and  the
Annotated  Code  of  Maryland,  Commercial  Law  Article,  Title  12,
Subtitle 9 and applicable federal law or regulation.
24. VISA STATEMENTS AND NOTICES: On a regular basis, you
will receive a statement showing all transactions for this account during
the period covered by the statement. Statements and notices will be
mailed  to  you  at  the  most  recent  address  you  have  given  SECU  in
writing. Notice to any one of you will be notice to all.
25. UPDATING INFORMATION: You promise that you will promptly
give us written notice if you move, change your name or employment,
or if any other information you provide to us changes. You also agree to
provide SECU with updated financial information about yourself upon
request. 
26.  COPY  RECEIVED:  By  signing,  using  or  accepting  the  SECU
VISA card, you acknowledge receipt of this Agreement and agree to
terms herein.
27. STOP PAYMENT: If before a Balance Transfer or Convenience
Check drawn on your Account has been honored, you notify us not to
pay it, we will stop payment on the check. You must send us a written
and signed stop payment order which states the number, payee, amount,
and date of the check on which payment is to be stopped. We may
disregard any such order six months after our receipt unless you renew
it in writing.
28.  CLOSING  YOUR  ACCOUNT:  You  can  cancel  or  close  your
Account by writing to us at SECU, 971 Corporate Blvd., Linthicum, MD
21090. Your notice becomes effective within five days after we receive it.
If  you  cancel  your  Account,  you  must  pay  everything  you  owe  us,
including any amounts owed but not yet billed to you if you wish to avoid
paying a FINANCE CHARGE on the outstanding balance. If you do not
pay  us  immediately,  outstanding  balances  will  continue  to  accrue
FINANCE CHARGES and other charges and be subject to the terms and
conditions of this Agreement. You also agree to return your card(s) and
any unused Transfer and/or Convenience Checks to us.
YOUR BILLING RIGHTS KEEP THIS NOTICE FOR FUTURE
USE
This  notice  contains  important  information  about  your  rights  and
responsibilities under the Fair Credit Billing Act.
NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT
YOUR STATEMENT
If  you  think  your  VISA  statement  is  wrong,  or  if  you  need  more
information about a transaction on your statement, write us on a separate
sheet at SECU, 971 Corporate Blvd., Linthicum, MD 21090. 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  at  410-487-7328  (Baltimore  Metro
Area) or (Toll Free) 1-800-879-7328, but doing so will not preserve
your rights. In your letter, give us the following information:
1. Your name and account number.
2. The dollar amount of the suspected error.
3. Describe the error and explain, if you can, why you believe there is
an error. If you need more information, describe the item in question.
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 and we cannot
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
the  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 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 that 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 (10) days telling us that you still refuse to pay,
we must tell anyone we report you to that you have a question about your
account. We must tell you the name of anyone we reported you to, and we
must tell anyone we reported 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 RULES FOR CREDITCARD PURCHASES
If you have a problem with the quality of property or services that you
purchased with your credit card, and you have tried in good faith to
correct the problem with the merchant, you may have the right not to
pay the remaining amount due on the property or services.
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 must have been more than $50.
These limitations do not apply if we own or operate the merchant, or if
we mailed you the advertisement for the property or services.
BUSINESS DAYS/HOURS
Business days are Monday through Friday from 8:00 a.m. to 6:00 p.m.
and Saturday from 9:00 am to 1:00 pm.
TYPES  OF  AVAILABLE  TRANSFERS  AND  LIMITS  ON
TRANSFERS
You may use your card to:
a. Pay for purchases at places that agreed to accept the card.
b. Obtain cash advances from our ATMs or at any ATM displaying the

VISA logo in conjunction with your PIN.

c. Obtain cash advances from any financial institution that has agreed to
accept  the  card.  There  is  no  limitation  on  the  frequency  of  cash
withdrawals you may make from our ATMs except that:

a. You  may  not  make  any  cash  withdrawals  that  would  result  in  an

outstanding account balance in excess of your credit limit; and

b. You may only make a total of $300 in cash advance withdrawals per

day with a minimum of $10.00.

IN  WHICH  WE  WILL  DISCLOSE

CIRCUMSTANCES 
ACCOUNT INFORMATION TO THIRD PARTIES
We  will  disclose  information  to  third  parties  about  your  account  or
transfers that you make:
a. When it is necessary for completing transfers, or
b. To verify the existence and condition of your account for a third party,

such as a credit bureau or merchant, or

c. To comply with government agency or court orders, or
d. If you give us your written permission.
YOUR  RIGHTS  TO  RECEIVE  DOCUMENTATION  OF
TRANSACTIONS
a. You can get a receipt at the time you make any cash advance using

one of our automated teller machines.

b. You  will  get  a  monthly  account  statement  unless  there  are  no

transactions in that particular month and your balance is zero.

c. You may also receive a statement if there is an amendment to terms.

9109 (2/10)

Interest Rates and Interest Charges

Annual
Percentage Rate
(APR) for
Purchases 

How to Avoid
Paying Interest 
on Purchases

For Credit Card
Tips from
the Federal
Reserve Board

Visa Platinum
Scorecard 10.99% to
24.00% when you open your
account, based on your
creditworthiness.    
Student Card 13.99%
Secured Card 10.99%
After that, your APR will vary with the
market based on the Prime Rate.     

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.  

To learn more about factors to
consider when applying for or using
a credit card, visit the website of
the Federal Reserve Board at
http://www.federalreserve.
gov/creditcard. 

Fees

Annual Fee

None

Transaction Fees
• Balance
Transfer

• Cash Advance
• Foreign

Transaction

Penalty Fees
• Late

Payment
• Returned
Payment

None

None
1% of each transaction in 
U.S. dollars.

Up to $25

Up to $15

How We Will Calculate Your Balance:  We use a method called “average
daily balance (including new purchases)”.

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

Variable APRs Based on Prime. The APR will be equal to the Prime
Rate Plus an additional amount. If the Prime Rate increases, it will cause
the APR to increase. If the Prime Rate decreases, it will cause the APR
to decrease. For each Billing period we use the Prime Rate published
in the Wall Street Journal on the last day of each calendar month of each
year. If Prime Rate causes an APR to change, we put the new APR into
effect as of the first day of the billing period for which we calculate the
APR. We apply the new APR to any existing balances, subject to any
promotional rate that may apply. If the Wall Street Journal does not
publish  the  Prime  Rate,  we  will  use  a  similar  published  rate.  The
maximum APR will not exceed 24%.

APR for Purchases. It equals the prime rate plus 7.74%; plus 8.74%;
plus10.74%;  plus13.74%;  or  plus15.74%  depending  on  your  credit
worthiness.

APR for Cash Advances: It equals the prime rate plus 7.74%; plus
8.74%; plus10.74%; plus13.74%; or plus15.74% depending on your
credit worthiness.

Effect  of  APR  Increases:  If  an  APR  Increases,  interest  charges
increase. 

In this agreement, the words “you” and “your” mean each person who
has signed the application for the card. “Card” means the SECU VISA
Platinum Credit Card, SECU VISA Platinum ScoreCard™ Credit Card,
or the SECU VISA Student Credit Card, as the case may be, and any
duplicates and renewals we issue. “Account” means your VISA Credit
Card line of Credit account with us. “We”, “us” and “ours” mean State
Employees Credit Union of Maryland, Incorporated (SECU).
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 card account. For example, you are responsible for charges made
by yourself, authorized users you designate, your spouse and minor
children. You are also 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 in writing
and  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. Each of you who has signed the
application is individually and jointly obligated for all payments due
under this agreement. You agree to use the account only for personal,
family, household or charitable purposes. You will not use this account
for any illegal transactions. Notice to any Account owner is considered
notice to all Account owners.
2.  LOST  CARD  NOTIFICATION:  If  you  believe  your  card,
convenience checks and/or Personal Identification Number (PIN) has
been lost or stolen, you will immediately call us at 410-487-7328 or 1-
800-879-7328, Monday through Friday, 8:00 a.m. to 5:00 p.m. During
evenings, weekends and holidays, call 1-800-299-9842.
3. LIABILITY FOR UNAUTHORIZED USE: You understand that
you may not be liable to SECU for any card transactions resulting from
the loss, theft or other unauthorized use of the card that occurs prior to
the time you notify SECU in accordance with Federal Law.
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 applied to the principal.
You may request an increase in the amount of your credit line by written
application or oral communication to us. It must be approved by our loan
office. 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  the
agreement, or our adverse reevaluation of your credit worthiness. You

may also terminate this agreement at any time, but termination by either
of us does not affect your obligation to pay the account balance. The cards
remain our property and you must surrender all cards and convenience
checks upon our request.
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
to the extent authorized in our bylaws.
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 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 required 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) 2.5% of your total new
balance or $20, whichever is greater; or (b) your total new balance if it is
less than $20 plus any portion of the minimum payment shown on prior
statements that 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 balances with the
highest annual percentage rate and any remaining portion to other balances
in  descending  order  based  on  the  applicable  annual  percentage  rate.
However, if you pay by check, the amount of your payment may not be
applied to your available credit line for such period of time as we reasonably
determine is necessary to ensure that your check is honored. We may also
allow you to skip a payment. If we do, we will notify you in advance of
this option. If you choose to skip a payment when offered, we will continue
to assess FINANCE CHARGES. You agree to pay us in U.S. dollars drawn
on funds on deposit in the United States using a payment check, similar
instrument, or automatic debit that will be processed and honored by your
financial  institution. We  reserve  the  right  to  accept  payments  made  in
foreign currency. If we do, we will select the currency conversion rate at
our discretion.
7.  IRREGULAR  PAYMENTS:  We  reserve  the  right  to  accept  late
payments or checks and money orders marked “payment in full” without
any prejudice to our rights under this agreement. If a check is presented for
payment before the date you write on the check or the check is not dated,
we have the right to process the check for payment or return it unpaid. You
will hold us harmless for any action in payment or non-payment of the check.
8. FINANCE CHARGES: 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. If you do not pay
the total new balance for purchases by the due date, FINANCE CHARGES
will be imposed on the unpaid purchase balance from the first date of the
last billing cycle and on new purchases from the day they are posted to your
account. For cash advances and balance transfers, FINANCE CHARGES
will begin to accrue from the date of the transaction and continue to accrue
until payment in full is credited to your account. We figure the FINANCE
CHARGE on your account by applying the periodic rate to the “average
daily balance” of your account (including current transactions).
The APR and daily periodic rate are provided on your welcome letter,
incorporated herein and made a part hereof.

To get the “average daily balance” for purchases we take the beginning
balance of your account each day, add any new purchases, and subtract
any payments or credits, and unpaid finance charges. This gives us the
daily balance. Then, we add up all the daily balances for the billing cycle
and divide the total by the number of days in the billing cycle. This gives
us the “average daily balance.” To get the daily balance for cash advances,
new cash advances are added to the day’s beginning balance and payments
and credits are subtracted. Fees are not included in the calculation of the

average daily balance. FINANCE CHARGES will continue to accrue on
your account until what you owe under this Agreement is paid in full.
9.  LATE  CHARGES:  In  addition  to  the  continued  accrual  of  the
FINANCE CHARGE at the daily periodic rate, if you fail to pay at
least the minimum payment within 15 days after it is due, we may
assess a late charge of up to $25.00 for each delinquent payment.
10. THE CONDITIONS UNDER WHICH ANY OTHER CHARGES
MAY BE IMPOSED: These charges will be added to your purchase
balance.
A. DISHONORED CHECK – A  fee of up to $15.00 may be imposed
if  payment  is  made  with  a  check  that  is  dishonored  on  the  second
presentment.
B. RESEARCH CHARGE PER ITEM – A $6.00 fee will be charged
to your account if you request a copy of a sale or cash advance draft
that is not part of a chargeback or fraud claim. This fee will also apply
to each statement request.

C. ADDITIONAL CARDS – We will issue up to four (4) cards at no
cost. Rush requests are $25.00 per request. 
11. DEFAULT: You will be in default if you fail to make a minimum
payment within 25 days after your monthly statement closing date. You
will be in default if you break any promise you made or any security
agreement made in connection with an advance. You will be in default
if you die, file for bankruptcy, or become insolvent, that is, unable to
pay your obligations when they become due. You will be in default if
you make any false or misleading statements in any credit application
or update of credit information. You will also be in default if something
happens that we believe may substantially reduce your ability to repay
what you owe. When you are in default we can demand immediate
payment of the entire amount you owe without giving you advance
notice.  You  will  also  be  required  to  pay  our  collection  expenses,
including  court  costs  and  an  additional  sum  equal  to  20%  of  the
aggregate of the principal and interest due if your account is referred
to an attorney at law or collection agency for collection. You authorize
us to submit payroll deduction requests, when available, from your
wages, salary or pension to the State of Maryland or other employer
agency for any amounts in default without additional authorization.
12. DELAY IN ENFORCEMENT: We can delay enforcing any right
under this agreement without losing that right or any other right.
13. SEVERABILITY: If any provision of this agreement is held invalid,
all provisions that are severable from the invalid provision remain in
effect.
14. ACCESSING THE ACCOUNT: To  make  a  purchase  or  cash
advance  there  are  three  alternatives.  (a.)  Present  the  card  to  a
participating  VISA® plan  merchant,  to  us  or  to  another  financial
institution. Then sign the sales or cash advance draft that has been
imprinted or swiped with your card information. (b.) Complete the
transaction by using your Personal Identification Number (PIN) in
conjunction with the card in an Automated Teller Machine (ATM) or
other  type  of  electronic  terminal  that  provides  access  to  the  VISA
system.  (c.)  Issue  a  convenience  check  for  the  payment  of  goods,
services or cash. You will retain the copy of such slips furnished at the
time of the transaction to verify the monthly statement. SECU may
charge a reasonable fee for photocopies of slips you request.
15. CARD RENEWAL: Cards are issued with an expiration date. We
have the right not to renew your card for any reason.
16. 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 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
$1.00 or more, refund it on your written request or automatically after
6 months.