Please read this information carefully.  This is your copy of the VISA Platinum Credit Card Agreement 
 and Regulation “Z” Disclosures made pursuant to the Truth in Lending Act.

Introduction.  This Agreement covers this VISA Platinum Credit Card issued by iQ Credit 
1.  
Union (“Lender”).  In this Agreement the words “you,” “your,” “yours,” “applicant,” and “Bor-
rowers” mean any person who signs the application for this Account, any joint obligor, guarantor, 
authorized user, or the person whose name is embossed on the Card.  The words “we,” “us,” “our,” 
and “Lender” means iQ Credit Union.  The word “Card” means any one or more credit cards 
issued under this Account.  If you sign an application for this Account or sign or use any Card or 
PIN, or allow others to use the Card or PIN, you and they will have accepted this Agreement just 
as if you and they signed it, and you and they, jointly and severally, will be bound by the following 
terms and conditions which will govern this Account.

2.  You Promise to Pay.  You promise to pay us in United States dollars, by cash, check or 
money order as provided in this Agreement, all such amounts, plus FINANCE CHARGES, which 
arise from use of the Card or Account by you or any other person, and to be jointly and severally 
liable with such a person, unless such other person does not have actual, implied, or apparent 
authority for such use, and you received no beneﬁ t from the use. This includes any loan requests 
for credit card purchases, payments to a third party, or for deposit to a deposit, share, or share draft 
account of yours, or any co-applicant at the Credit Union.  You agree to pay advances requested 
by any co-applicant the same as if you asked for the loan and it was paid to you.

3.  Purchases and Cash Advances.  You must sign the Card to use it.  Once you have signed 
the Card, you can use it to buy or lease goods or services, wherever the Card is honored, up to 
the full amount of your credit line.  You also may use your Account and Card to get cash advances 
from us or participating ﬁ nancial institutions.  You may use your Card and Personal Identiﬁ cation 
Number (“PIN”) to obtain cash advances at automated teller machines (“ATMs”) designated with 
the VISA or Plus System networks.  The periodic statement will identify the merchant or ﬁ nancial 
institution at which transactions were made, but sales, cash advances, credit or other slips cannot 
be returned with the statement.  We may impose a reasonable charge for photocopies of slips you 
may request.

4.  Convenience Checks.  If we approve, you may obtain advances under your Account by 
writing preprinted loan drafts (“convenience checks”) that we supply to you.  Your use of conve-
nience checks will be shown as credit advances on your periodic statement.  We may not honor 
the convenience check if it is postdated, payment of the check will exceed your credit limit, a 
convenience check is signed by a person without authorized access, the amount of the check is 
less than the minimum required amount, your Account has been terminated or suspended, or any 
convenience checks have been reported lost or stolen.  You may stop payment on a convenience 
check if you provide us with the exact information describing the convenience check.  If you give 
us incorrect information, we will not be responsible for failing to stop payment.  You understand 
there may be a charge for convenience check printing and charges for stop payment requests, 
returned items, check copies, and other fees or costs we incur in handling your convenience 
checks.  Our liability for a wrongful dishonor is limited to your actual losses; however, a dishonor 
for the reasons stated above is not a wrongful dishonor.

5.  Rebate Program.  You may earn a 1.00% cash rebate on your Account if you meet the

following requirements:

a.  Cash  Rebate  on  Net  Purchases. You  may  earn  a  .50%  cash  rebate  on  net  purchases
(purchases less returns for credit) made during a rebate period in which the net purchases 
posted  to  your Account  total  $2,500  or  more.  Cash  advance  transactions,  including 
convenience checks and balance transfers, do not qualify for the cash rebate. The cash 
rebate will be calculated on cumulative net purchases posted to your Account for the prior 
rebate period. To illustrate, let us assume that during the ﬁ rst rebate period of the year 
(January - March) your total net purchases equal $3,500. In this example, we would 
multiply $3,500 by .50%, which would equal a cash rebate of $17.50.

b.  Cash  Rebate  on Average  Daily  Balance.   You  may  earn  a  .50%  cash  rebate  on  the 
average  daily  balance  in  your Account  if  you  maintain  an  average  daily  balance  of 
$4,000 during a rebate period. The cash rebate will be calculated each quarter based 
on the average daily balance in your Account for the prior rebate period. For example, 
if the average daily balance in your Account during the ﬁ rst rebate period of the year 
(January - March) was $5,800, we would multiply $5,800 by .50%; which would equal 
a cash rebate of $29.00.

There are four rebate periods in each calendar year: January 1 through March 31, April 1 through 
June 30, July 1 through September 30, and October 1 through December 31. The cash rebate for 
the prior rebate period will be credited to your checking or savings account by the 15th day of the 
month following the end of the prior rebate period. The maximum cash rebate you can earn on 
your Account is $300 per quarter, inclusive of cash rebates for net purchases and average daily 

balances. Your Account must remain open and in good standing in order to receive the cash rebate.  
If at any time your Account is assessed a late fee, is closed or is in default, you will forfeit all cash 
rebates accrued through the calendar quarter in which your Account was closed, or the delinquency 
or default occurred.  The terms and conditions of this rebate program may be changed or cancelled at 
any time and for any reason without notice.

6.  Minimum Periodic Payment.  You agree that you will pay each month not less than the minimum 
payment on or before the scheduled due date.  The minimum payment will be three percent (3.0%) of 
your outstanding balance or $25.00, whichever is greater, plus the greater of any amount past due or 
any amount in excess of your credit line.

7.  Periodic Statements.  If, at the end of any monthly periodic interval which we may determine 
the “Billing Cycle,” you have an outstanding undisputed debit or credit balance in your Account, or if 
there is any FINANCE CHARGE imposed with respect to your Account, we will send you a periodic 
statement regarding the Account for that Billing Cycle.  The statement will show any purchases, cash 
advances, payments, and credits made to your Account during the Billing Cycle, as well as your “New 
Balance,” any FINANCE CHARGE, any late charge, or other charges.  You may elect to receive your 
statement information electronically.  Your statement also will identify the “Required Payment Due” you 
must make for that Billing Cycle and the date it is due.  You may pay in full for all your purchases and 
cash advances each month or you may repay in monthly installments.  You agree to retain for state-
ment veriﬁ cation copies of transaction slips resulting from each purchase, each advance, and other 
transaction on your Account.  Unless you notify us of a billing error as described below, you accept 
your monthly statement as an accurate statement of your Account with us.

8.  Credit Line.  This Agreement will constitute a revolving line of credit, and we will advise you of 
the amount of your credit line.  That amount will be the maximum amount you may have outstanding 
at any one time.  You agree not to attempt to obtain more credit than the amount of your credit line.  
However, if you temporarily exceed your credit line, you agree to pay any overlimit fees and repay the 
excess immediately, even if we have not yet billed you.  Obtaining such credit does not increase your 
credit line.  We retain the right to increase or decrease your credit line at any time for any reason.  Any 
increase or reduction on the limit of your credit line will be shown on your monthly statement or by 
separate notice together with any changes in the applicable minimum monthly payments.  The minimum 
credit limit is $5,000.

9.  Circumstances Under Which a FINANCE CHARGE Will Be Imposed.  The total outstanding 
balance of purchases and cash advances in the Account on the closing date of a Billing Cycle, including
any  FINANCE  CHARGE  will  be  shown  on  the  Periodic  Statement  for  that  billing  cycle  as  the 
“New Balance.”

a. Purchases. A FINANCE CHARGE will be imposed on purchases included in the New Balance 
when the entire New Balance is not paid in full within 25 days after the closing date. This 
“grace period” allows you to avoid a FINANCE CHARGE on purchases for a billing cycle. If 
you do not pay the entire New Balance within the grace period, your FINANCE CHARGE will 
accrue from the date of purchase.

b.  Cash  Advances.  A  FINANCE  CHARGE  will  be  imposed  on  cash  advances  from  the 
date  each  cash  advance  is  made.  There  is  no  time  period  within  which  to  pay  to 
avoid a periodic FINANCE CHARGE on cash advances. In addition, a cash advance fee (FINANCE 
CHARGE) equal to 2% of the cash advance (or $10.00, whichever is greater) will be applied 
to each cash advance.

10.  Method  Used  to  Determine  the  Balance  on  Which  the  FINANCE  CHARGE  May  Be
Computed.  We ﬁ gure the FINANCE CHARGE on your Account by applying the Periodic Rate to the 
“Average  Daily  Balance”  of  purchases  and  cash  advances  for  your Account  (not  including  current 
transactions).  To get the “Average Daily Balance” we take the beginning balance of your Account 
each day, add any new purchases or cash advances, and subtract any payments or credits, unpaid 
FINANCE CHARGES and unpaid late 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.”

11.  Method of Determining the Amount of the FINANCE CHARGE.  The FINANCE CHARGE
imposed on purchases and cash advances with respect to a Billing Cycle, will be determined by multi-
plying the Average Daily Balance of purchases and cash advances by the number of days in the Billing 
Cycle and then by the rate disclosed in the next paragraph.  The FINANCE CHARGE for any Billing 
Cycle will be the sum of the FINANCE CHARGE for purchases and the FINANCE CHARGE for cash 
advances.  However, the portion of your balance that is the result of purchases has a different treatment 
if you pay all of that portion by at least twenty ﬁ ve (25 days) after we send your billing statement.  In 

that event, we will zero out the FINANCE CHARGE that would otherwise be charged on that 
portion of your account balance.  For this purpose, payments will be applied ﬁ rst to unpaid 
FINANCE CHARGES, then to unpaid purchases and cash advances from prior billing 
statements (starting with the portion of the balance subject to the lowest rate), then to 
purchases and cash advances during that Billing Cycle (starting with the portion of the 
balance subject to the lowest rate). 

12. (a) Purchases.  Periodic Rate and Corresponding ANNUAL PERCENTAGE RATE. The 
Periodic Rate that is used to compute the FINANCE CHARGE and the corresponding ANNUAL 
PERCENTAGE RATE is variable, and will change based on changes in an index, which is the 
Prime Rate quoted on the 15th day of the last month of the prior quarter as published in The 
Wall Street Journal (Western Edition). We add a margin of 4.99 percentage points to the index 
to obtain the ANNUAL PERCENTAGE RATE. The ANNUAL PERCENTAGE RATE includes only 
interest and not other costs. The ANNUAL PERCENTAGE RATE is divided by 365 to produce 
the daily Periodic Rate. The Periodic Rate and ANNUAL PERCENTAGE RATE that will apply to 
your Account will be disclosed on the notice that accompanies (and is a part of) this Agreement 
when you open your Account. The ANNUAL PERCENTAGE RATE will in no event be higher 
than 18%, or the maximum rate allowed by applicable law, or fall below 5.99% over the life 
of the credit line. The rate will be adjusted on the twenty ﬁ rst day of each calendar quarter 
(January 21, April 21, July 21, and October 21). 

12.  (b).Cash  Advances.   The  Daily  Periodic  Rate  for  cash  advances  (including  balance 
transfers) is .046547%, with a corresponding ANNUAL PERCENTAGE RATE of 16.99%.

13.  Conditions Under Which Other Charges May Be Imposed.  We may impose the 
following fees and charges on your Account:

a. Annual Fee.  There is no annual fee.

b. Cash Advance Fee.  The fee for a cash advance is the greater of 2.00% of the cash 

advance amount or $5.00.

c. Late Fee. A late fee of $25 will be imposed when any payment is 15 days past due..

d. Miscellaneous Photocopying.  If you request a copy of a sales draft or other document, 
we may charge your Account $5.00 per copy and $25.00 per hour for research.  
These charges cover the costs of locating, copying, and delivering the documents 
to you.  If a request is related to a billing error and an error is found, we will reverse 
any photocopying charges.

e.Overlimit Fee. A fee of $29 will be imposed in any Billing Cycle in which the outstand-
ing balance (including unpaid FINANCE CHARGES) exceeds your credit limit at any 
time.

f.  Replacement  Card  Charge.   A  $5.00  charge  per  card  will  be  imposed  for  each 

replacement card you request, regardless of the reason.

g. Returned Check Charge.  A $25.00 charge will be imposed for each check returned 

to us for insufﬁ cient funds or Account closure.

h.  Convenience  Check  Stop  Payment.   A  $17.00  charge  will  be  imposed  for  each 

convenience check stop payment request.

i.  ATM Surcharges.  If you use an ATM that is not operated by us, you may be charged 
an ATM surcharge by the ATM operator or an ATM network utilized for such a transac-
tion. The ATM surcharge will be charged to your account if you elect to complete  
the transaction.

j. Fees and Costs.  We may pay someone else to help collect your Account if you do 
not pay.  You agree to pay us all costs to collect your Account, including court costs, 
reasonable attorney fees and costs, and collection agency costs, if applicable, whether 
or not there is a lawsuit, and fees on any appeal and fees for bankruptcy proceedings, 
appeals, and any post judgment collection services, if applicable.  These fees and costs 
may be added to your loan balance and bear interest at the ANNUAL PERCENTAGE 
RATE applicable at that time.

k. Foreign Transaction Fee.  You will be charged a fee of 1% of the transaction amount 

for any card transaction made in a foreign country.

14.  Security Interest.  To secure your Account, you grant us a purchase money security 

 
 
Visa 
Platinum 
Credit Card 
Agreement 
and 
Regulation “Z”
Disclosures

interest under the Uniform Commercial Code in any goods you purchase through your Account.  
If you default, we will have the right to recover any of these goods which have not been paid 
for through application of your payments in the manner described in Section 7.  Except for 
real estate loans or loans secured by your dwelling, collateral securing other loans with us 
also may be used to secure this Account.  You also pledge all of your present and future 
shares and any earnings thereon as security for obligations under your Account.

15.  Conditions of Card Use.  The use of your Card and Account are subject to the following 
conditions:

negligent or fraudulent in handling your Card, otherwise your liability for unauthorized VISA Platinum 
Credit Card transactions may be up to $50.00.

19.  Termination.  Your eligibility for this credit line is determined by our loan policy and may be 
terminated at our sole discretion, without demand or notice.  You may close your credit line at any 
time by notifying us in writing and returning all Cards cut in half.  If you terminate this Agreement or 
if we terminate or suspend your credit privileges, the provisions of this Agreement and your liability 
hereunder shall otherwise remain in full force and effect until you have paid us all sums due us under 
this Agreement and returned all Cards.

a. Ownership of Cards.  Any Card or other credit instrument or device which we sup-
ply to you is our property and must be returned to us, or to any person whom we 
authorize to act as our agent, or to any person who is authorized to honor the Card, 
immediately according to instructions.  The Card may be repossessed at any time 
in our sole discretion without demand or notice.  You cannot transfer your Card or 
Account to another person.  You may not use the Card for any illegal or unlawful 
transactions, and we may decline to authorize any transaction that we believe poses 
an undue risk of illegality or unlawfulness.

b. Honoring the Card.  Neither we nor merchants authorized to honor the Card will be 
responsible for the failure or refusal to honor the Card or any other credit instrument 
or device we supply to you.  If a merchant agrees to give you a refund or adjustment, 
you agree to accept a credit to your Account in lieu of a cash refund.

c. Currency Conversion. Purchases and Cash Advances made in foreign countries will be 
billed to you in U.S. dollars.   The currency conversion rate for international transactions 
as established by VISA International, Inc. is a rate selected by VISA from the range of 
rates available in wholesale currency markets for the applicable central processing 
date, which rate may vary from the rate VISA itself receives, or government-mandated 
rate in effect for the applicable central processing date.

d. Notices and Payments.  All notices will be sent to your address as shown in the 
application.  You agree to advise us promptly if you change your mailing address. All 
payments should be mailed to us at the remittance address shown on your monthly 
statements.  Payments received at that address will be credited to your Account as 
of the date received.  Payments mailed must reach our ofﬁ ce by the due date.  Where 
the due date falls on a weekend or holiday, payments are due the last working day 
prior to the due date.  We can accept late payments or partial payments, or checks, 
drafts, and money orders marked “payment in full,” without prejudice to our rights 
under this Agreement, which are hereby explicitly reserved.

e. Personal Identiﬁ cation Number.  We may issue you a Personal Identiﬁ cation Number 
(“PIN”) for using your Card to obtain cash advances at automatic teller machines 
(“ATMs”).   These  numbers  are  issued  to  you  for  your  security  purposes.   These 
numbers  are  conﬁ dential  and  should  not  be  disclosed  to  third  parties.   You  are 
responsible for safekeeping your PIN.  You agree not to disclose or otherwise make 
available your PIN to anyone not authorized to sign on your Accounts.  To keep your 
Account secure, please do not write your PIN on your Card or keep it in the same 
place as your Card.

16.  Default.  You will be in default under this Agreement if any of the following occur:  (a) 
Any minimum payment is not made when due; (b) You become insolvent, bankrupt, or you 
die; (c) You violate any part of this Agreement, or any other agreement with us; or (d) if we 
reasonably deem ourselves insecure on your credit line.  We will notify you in writing of any 
such action as soon as practical if it occurs.  Upon default, we may declare the entire unpaid 
balance immediately due and payable, and you agree to pay that amount plus any attorney’s 
fees and costs incurred by us.  We can delay enforcing any right under this Agreement without 
losing that right or any other right.

17.  Credit Information/Financial Statements.  You authorize us to release information to 
others (e.g., credit bureaus, merchants, and other ﬁ nancial institutions) regarding the status 
and history of your credit line.  You agree to provide us, at any time we deem necessary, with 
a current ﬁ nancial statement and/or a new credit application upon request.  You authorize 
us to make or have made any credit, employment, and/or investigative inquiry we deem 
appropriate for the extension of credit, account maintenance, or collection of amounts owing 
on the Account directly or through a credit reporting agency.

18.  Loss  or  Theft  of  VISA  Platinum  Credit  Card  -  Liability  for  Unauthorized 
Transactions.  You agree to notify us immediately, orally, or in writing, at iQ Credit Union, 
P.O. Box 1846, Vancouver, Washington 98668-1846, or telephone (360) 695-3441, or (800) 
247-4364 of the loss, of the theft, or the use without your permission of any Card or other 
credit instrument or device which we supply to you.  After normal Credit Union hours and 
on weekends and holidays, phone (800) 682-6075 and then notify the Credit Union at the 
ﬁ rst opportunity during business hours.  If you notify us of your lost or stolen Card, you will 
not be liable for any losses.  This liability exclusion will apply provided you were not grossly 

20.  Billing Errors Notice Rights for VISA Platinum Credit Card Transactions.

a. Notify Us in Case of Errors or Questions About Your Bill.  This notice contains important infor-
mation about your rights and our responsibilities for VISA Platinum Credit Card transactions 
under the Fair Credit Billing Act.  If you think your bill is wrong, or if you need more information 
about a transaction on your bill, write to us at the address listed above.  Write to us as soon 
as possible.  We must hear from you no later than 60 days after we sent you the ﬁ rst bill 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 VISA Platinum Credit Card transaction 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 Account bill automatically from your checking 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.

b.  Your Rights and Our Responsibilities After We Receive Your Written Notice.  We must acknowl-
edge 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 bill 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 bill 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 bill that are not in question.

If we ﬁ nd that we made a mistake on your bill, you will not have to pay any FINANCE CHARGE
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 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 days telling us that you 
still refuse to pay, we must tell anyone we report you to that you have a question about your 
bill.  And, we must tell you the name of anyone to whom we reported you.  We must tell anyone 
we report you to that the matter has been settled between us when it ﬁ nally is.

If we don’t follow these rules, we can not collect the ﬁ rst $50 of the questioned amount, even 
if your bill was correct.

c.  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 services.  There are two limitations on this right:

i.   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

ii.  The purchase price must have been more than $50.00.

These  limitations  do  not  apply  if  we  own  or  operate  the  merchant,  or  if  we  mailed  you  the 
advertisement for the property or services.

21.  Severability.  If any provision of this Agreement is held invalid, all provisions that are severable 
from the invalid provision remain in effect.

22.  Acknowledgment and Amendments.  You understand and agree to the terms and conditions 
in this Agreement, and the Fair Credit Billing Notice.  You acknowledge that you have received a copy 
of this Agreement, and Disclosure and the Fair Credit Billing Notice.  We have the right to change 
any terms and conditions, subject to applicable laws, of this Agreement at any time.  If we change 
the periodic rate, and subsequent purchases or advances are made under this Agreement, the entire 
balance will be subject to the new rate.

23.  Governing Law.  This Agreement will not take effect until it is approved by us.  This Agreement 
shall be governed by the laws of the State of Washington.

03/05