OTHER:
M-98821
Table 1 - Finance Charge and Fee Disclosure
You understand and agree that the Credit Union may, at its option, require
an updated credit application at any time.
Description
Interest Rates and Interest Charges
The Credit Union will not be responsible for merchandise or services
purchased by you with the card unless required by law.
FICA Scores
760 or greater
730 to 759
690 to 729
650 to 689
649 or below
No score
The Credit Union will not be responsible for the refusals of any person to
Credit
honor the card or if you are not able to use the card at an ATM machine.
Annual Percentage Rate (APR) for
If any part of this Agreement shall be invalid or unenforceable, the
Union
Purchases, Balance Transfers, and Cash
remainder of the Agreement will remain in full force and effect.
8.9%
10.9%
13.9%
15.9%
Advances
18.9%
15.9%
The Credit Union may delay enforcing any of its rights under this
Agreement any number of times without losing the ability to exercise its
Rates shown above are effective from January 19, 2010 to July 18, 2010
rights later.
PLATINUM VISA CREDIT CARD
The Credit Union can enforce this Agreement against your heirs or legal
Margin rates
representatives.
AGREEMENT DISCLOSURE
5.65%
7.65%
10.65%
12.65%
15.65%
12.65%
This Agreement shall be construed according to the laws of the State
of Florida. You agree that venue for any action brought pursuant to this
APR is determined by adding the above margin rate for the appropriate FICO Score range that
Agreement shall be in Broward County, Florida,
Effective January 19, 2010
depicts your credit score in April of each year, to the Wall Street Prime as published in the
AGREEMENT:
Wall Street Journal on June 30th of each year. Actual APR can never be less than 8%.
YOUR BILLING RIGHTS:
This agreement contains the terms and conditions of your CCCU Visa
Paying Interest
Your Payment due date is at least 25 days after the close of each billing cycle. We will
Platinum Credit Card and associated credit card account.
KEEP THIS NOTICE FOR FUTURE USE
not charge you interest on purchases if you pay your entire balance by the due date
In this agreement the words "you", "your", and "cardholder", means the
This notice contains important information about your rights and our
each month. We will begin charging interest on cash advances and balance transfers on
responsibilities under the Fair Credit Billing Act.
applicant and co-applicant (if any). "Primary Cardholder" refers to the first
the transaction date.
name on the account. "Agent" refers to any person authorized by you to
Minimum Interest Charge
If you are charged interest, the charge will be no less than $1.50
NOTIFY Us IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR BILL
use your card. The words "we", "our",""us", "issuer", "CCCU" or "Credit
If you think your bill is wrong, or if you need more information about a transaction
Union" mean City County Credit Union of Fort Lauderdale.
Credit Card Tips from the Federal Reserve
To learn more about factors to consider when applying for or using a credit card, visit the
on your bill, write to us on a separate sheet at the address listed on your statement.
The term APR refers to Annual Percentage Rate.
web site of the Federal Reserve Board at http://www.federalreserve.gov/creditcard
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
ACCEPTANCE OF THIS AGREEMENT:
telephone us, but doing SO will not preserve your rights.
You agree to the terms and conditions of this Agreement when you or an
Description
Fees
In your letter, give us the following information
authorized agent uses the credit card account, or you do not return the credit
Your name and account number
card (cut in half) to us within 30 days from the date of issue.
The dollar amount of the suspected error.
Annual Fee
None
Describe the error and explain why you believe there is an error. If you need
CARD USE:
more information, describe the item in question.
Transaction Fees:
If you have authorized us to pay your credit card payment automatically from your
You can use your credit card account for personal, family or household
Balance Transfer
None
savings or checking account, you can stop the payment on any amount you think is
purposes only. You may not use your credit card for any unlawful
Cash Advance
None
wrong. To stop the payment, your letter must reach us three business days before
transaction or purposes not permitted by state or federal law, including on-
Foreign Transaction
3% of each transaction in U.S. dollars
the automatic payment is scheduled to occur.
line gambling.
Purchase Transaction
None
YOUR RIGHTS AND OUR RESPONSIBILITIES AFTER
CREDIT LIMIT / LINE OF CREDIT:
Penalty Fees:
WE RECEIVE YOUR WRITTEN NOTICE
You have been issued a credit card account with a specific credit limit or line
Late Payment
$32
We must acknowledge your letter within 30 days, unless we have corrected the error
of credit. You shall be notified of that credit limit when the card is issued
Returned Payment
$10
by then. Within 90 days, we must either correct the error or explain why we believe
and the credit limit will appear on your monthly credit card statement.
the statement was correct.
You give us permission to verify your credit record, employment, income
Service Fee:
After we receive your letter, we cannot try to collect any amount you question, or
$19 per transaction that exceeds $20 over credit limit
report you as delinquent. We can continue to bill you for the amount you question,
and agree to supply us any information we feel is necessary to determine
Credit Card Overlimit Allowance
including Finance Charges, and we can apply any unpaid amount against your credit
whether to continue your line of credit.
limit. You do not have to pay any questioned amount while we are investigating, but
You may request credit be extended with your credit card account by:
RETURNED PAYMENT FEE:
We may return a convenience check unpaid if your card or checks have
you are still obligated to pay the parts of your bill that are not in question.
Using the credit card to purchase goods and services.
A Returned Payment Fee of $10 will be charged if the drawee financial
been reported lost or stolen.
If we find that we made a mistake on your statement, you will not have to pay any
Requesting a cash advance or balance transfer ($100 minimum).
institution, for any reason, returns the item you used as a credit card
Finance Charges related to any questioned amount. If we didn't make a mistake,
Using the card, with your PIN (Personal Identification Number) to
payment.
CONSENSUAL SECURITY AGREEMENT:
you may have to pay Finance Charges, and you will have to make up any missed
make cash withdrawals at an ATM (Automated Teller Machine).
By using your CCCU Visa® Platinum credit card or account number, you
payments on the questioned amount. In either case, we will send you a statement of
Using a Convenience Check ($100 minimum).
CONVENIENCE CHECKS:
the amount you owe and the date due.
grant us a consensual security interest in all individual and joint accounts
If you fail to pay the amount that we think you owe, we may report you as
We need not make any advance or extend credit if:
Convenience checks may be used to access your credit line. If there is
you have with the Credit Union now and in the future to secure credit card
delinquent. However, if our explanation does not satisfy you and you write to us
You are in default of this Agreement or any other CCCU account
insufficient credit available, the check will be returned to the payee.
balances.
within ten days telling us that you still refuse to pay, we must tell you the name of
agreement.
In the event payments are not made as agreed and this account becomes
anyone we reported you to. We must tell anyone we reported you to that the matter
Your financial condition has adversely changed.
LOST OR STOLEN CARD:
more than 30 days past due, you hereby give authorization for us to bring
has been settled between us when it finally is.
The advance or extension of credit would exceed your credit limit.
You may be liable for the unauthorized use of your credit card if you
the account current by transferring funds from any CCCU deposit account
If the situation warrants, we may increase or decrease your credit limit.
fail to notify us in a timely manner or refuse to cooperate with a fraud
on which you are an owner.
SPECIAL RULES FOR CREDIT CARD PURCHASES
investigation.
If you have a problem with the quality of property or services that you purchased
CREDIT CARD OVERLIMIT ALLOWANCE:
If your credit card is lost or stolen, or if you have reason to believe, another
However, unless you expressly agree otherwise, your dwelling will not
with a credit card, and you tried in good faith to correct the problem with the
You may enroll in the Credit Card Overlimit Allowance service if you want
person may use your card without your permission, you must notify us
merchant, you may have the right not to pay the remaining amount due on the
secure your obligations under this Agreement even if we acquire a mortgage
property or services. There are two limitations on this right (a) you must have made
to permit authorizations to take your balance up to 110% of your credit
immediately at (800) 654-7728. If a telephone is not available, write to
on the dwelling based on use of your card.
the purchase in your home state or, if not within your home state, within 100 miles
limit. Contact us for enrollment form.
us at VISA Customer Service, P.O. Box 31112, Tampa, FL 33631-3112.
Balances in an Individual Retirement Account and any other accounts,
of your current mailing address, and (b) the purchase price must have been more
If you have chosen not to have Credit Card Overlimit Allowance,
If there is unauthorized use of your card, you agree to cooperate with us
which are tax exempt under State or Federal Law are not subject to the
than $50. These limitations do not apply if we own or operate the merchant, or if we
authorizations presented that will take you over your credit limit will be
during the investigation and prosecution of fraudulent use.
security interest you have given in your authorization to apply shares.
mailed you the advertisement for the property or service.
declined.
PROMISE TO PAY:
PAYMENT APPLICATION:
The Finance Charge, for a billing cycle, is computed by multiplying the
A review of the card account and the primary cardholder's credit history
You agree to pay us all amounts owed on your account under this
Payment amounts received in excess of Minimum Payment shall be
Monthly Periodic Rate times the average daily Purchases balance. The
will be conducted during the second quarter of each calendar year. You
Agreement. This includes charges for insurance (you elect), account fees,
applied to card balances bearing the highest rate of interest and then to
average daily outstanding balance is calculated by dividing the sum of the
agree the APRs may be adjusted accordingly based on the credit score
and finance charges as described in this Agreement.
each successive balance bearing the next highest rate of interest, until the
daily balances during the billing cycle by the number of days in the cycle.
acquired. This process could result in an increase or decrease to the total
By using or authorizing another agent to use your credit card or credit card
payment amount is exhausted.
The daily balance is determined by adding new Purchases and subtracting
interest paid on the card account. The new APRs will become effective
account, you agree to be responsible for all charges incurred and to be
payments and credits to the previous day's balance. Unpaid finance charges
within the quarter following the credit review. The new terms, including
bound by the terms and conditions of this Agreement.
PERIODIC STATEMENT:
are excluded in determining the daily balance.
any increase or decrease to an APR, will only apply to new cash advances
You, as Cardholder, will be liable and subsequently agree to pay CCCU for
We will send you a monthly statement at least 21 days prior to your Payment
(including ATM and convenience check transactions), balance transfers,
credit purchases and loan advances extended to you or any agent using your
Due Date (if your account is active) which will indicate your credit limit,
DEFAULT:
and purchases. Existing balance shall remain at the existing APR until paid
Card unless both of the following apply:
statement closing date, previous statement balance, payments, purchases,
You will be in default on this Agreement if one or more of the following
in full. Refer to Table 1 for FICO matrix.
The person using your card did not have actual, implied, or apparent
cash advances, finance charges, new balance, minimum monthly payment
occur:
Cardholders who continue to maintain the same FICO score or score range
authority from you for such use.
and payment due date. In addition, the periodic statement shall include
You fail to make a Minimum Payment by the scheduled Payment Due
will not receive a change in terms.
You received no direct or indirect benefit.
a payment warning that specifies the number of months it would take to
Date.
If we make changes to your card account after our annual review, you will
If this is a joint credit card account, you are jointly and severally liable
pay the balance making only the minimum balance payment, total interest
You fail to abide by the terms of this Agreement or any other
receive advance notice, as required by law, and a right to opt out. If you
for all credit purchases, and loan advances obtained using your card by
and principal costs associated with paying the balance by making only
agreement you may have with CCCU.
opt out, we will close your card account. You can then pay the remaining
any authorized user. Consequently, each of you, together or individually,
minimum payments, monthly payment amount to pay the balance in 36
Your financial or credit status has changed SO that your credit
balance under the existing rate. Of course, this paragraph does not apply to
is responsible for all amounts owed. This applies even if only one of you
months, and a toll-free number to obtain information on credit counseling.
worthiness has been negatively impacted
changes required by law or our regulators.
uses the account.
Statements will be deemed correct and accepted by Cardholder(s) unless
In addition, you will be considered in default of this Agreement if:
CCCU is notified to the contrary in writing within 60 days of statement
Cardholder dies
REVOCATION:
YOUR RIGHT TO CANCEL:
date.
You declare bankruptcy or insolvency.
You agree that your CCCU Visa Platinum credit card is; the property of
You may cancel your credit card account at any time. If you opt to cancel
You have an attachment or garnishment proceeding initiated against
CCCU, not transferable, and must be surrendered upon demand. We can
and have an outstanding balance on your card it will be frozen at the current
FINANCE CHARGE INTEREST APR:
you or your property.
repossess the card, and revoke all privileges at any time and without notice
APR until paid in full. Payments must be made as required or the account
The Interest Rate used to calculate Finance Charge is a variable rate subject
including, but not limited to, the following conditions:
will be subject to late fees.
to change with the beginning of your August statement cycle each year and
DEFAULT REMEDIES:
A negative impact to your creditworthiness.
You also have the right to cancel permission for an authorized user to
is indexed to the Wall Street Prime as published in the Wall Street Journal
If you are in default, CCCU may take one or more of the following
Your CCCU loan account/s is delinquent.
continue to use your credit card. you must notify us in writing and return any
for June 30th of each year. A margin rate shall be added to the Prime interest
actions:
Your failure to maintain the minimum required balance on your
card(s) issued (cut in half) to or for the authorized user. You will be liable
rate that is reflective of your FICO score (see Table 1).
Cancel cards
Credit Union Share Account.
for all purchases, cash advances, and account fees created by an authorized
Accelerate all amounts owed without notice on demand.
Your failure to satisfy or adhere to the terms and conditions of this
agent, until we receive the required written notification and card.
FINANCE CHARGE CALCULATION:
Require past due payment(s) and fees to be paid immediately.
Agreement.
If this is a joint account, either owner may request the account be closed.
Cash Advances / Transfers:
Take the past due payment(s) and fees from any deposit account in
You make false or misleading statements in any credit application or
We will honor the request without liability to either joint cardholder.
The finance charge on cash advances, (including automated teller machine
your name
update of credit information.
(ATM) and convenience check transactions), and balance transfers are
Require you to immediately pay all amounts you owe under this
If something happens which the Credit Union believes may reduce
PAYMENTS:
calculated according to the following method:
Agreement.
your ability to repay what you owe.
On or before each Payment Due Date, you agree to make a payment.
A finance charge will be charged on Cash Advances and Balance Transfers
Take the amount owed under this Agreement from any deposit
The Payment Due Date will be the same date each month. The minimum
from the date of the transaction or from the first day of the billing cycle in
account in your name.
LATE FEE:
payment amount is 3% of your card account balance (as of the last day of
which the transaction is posted to the account (whichever is later). If not
You understand that any remedy applicable under this agreement is
A late fee of $32 will be charged when a payment is not received within
the billing cycle), or $10, whichever is greater.
paid in full during the same billing cycle as made, the finance charge will
extended equally to co-applicant or Guarantor.
two days after the Payment Due Date or the payment was less than the
The Credit Union does, however, reserve the right to charge for dishonored
accrue on the unpaid balance until the billing cycle Closing Date prior to
If you are in default, you agree to pay all our costs, including attorney's fees,
Minimum Payment amount due. The fee will be reflected on your monthly
payment due to insufficient or uncollected funds in accordance with the
the date the entire New Balance is paid in full.
which we incur in any collection efforts or litigation at the trial, bankruptcy
periodic statement.
CCCU Fee Schedule.
If the New Balance indicated on your statement is paid in full by the
or appellate level to enforce this Agreement and collect the amount owed.
We can accept late payments, partial payments, payments that are marked
Payment Due Date, no finance charge will be imposed during the current
CREDIT CARD OVERLIMIT ALLOWANCE FEE:
"payment in full", or payments with restrictive endorsements, without
billing cycle for Cash Advances or Balance Transfers made during the
SKIP PAYMENT OPTION:
A fee of $19 will be charged, if you have opted to permit authorizations
losing any of our rights under this Agreement.
previous billing cycles.
From time to time, the Credit Union, at its option and terms, may announce
to take your balance up to 110% of your credit limit and authorizations
Payment for more than the minimum amount will be accepted as a single
The Finance Charge, for a billing cycle, is computed by multiplying the
an optional feature, which will allow you to skip one or more payments.
have caused your account balance to exceed $20 over your credit limit.
payment on your CCCU Visa Platinum Credit Card account for that
Monthly Periodic Rate times the average daily Cash Advances or Balance
You understand that periodic finance charges will continue to accrue on
The Credit Card Overlimit Allowance Fee will be charged with each new
month.
Transfers balance. The average daily outstanding balance is calculated
your unpaid balance at the applicable Monthly Periodic Rate. At the end
extension of credit that is over your credit limit.
Payments should be mailed and addressed to VISA, P.O. Box 96099,
by dividing the sum of the daily balances during the billing cycle by the
of the period, the payment terms of this Agreement will be reinstated
Charlotte, NC 28296-0099. Please allow sufficient mailing time for
number of days in the cycle. The daily balance is determined by adding
automatically without notice.
FOREIGN CURRENCY TRANSACTIONS:
payment posting.
new Cash Advances or Balance Transfers and subtracting payments or
Purchases and cash advances made in foreign currencies will be
Payments may also be made through CCCU Call-24 audio system, CCCU
credits to the previous day's balance. Unpaid finance charges are excluded
CHANGE IN TERMS:
debited from your account in U.S. dollars. The exchange rate between
Web Site (InfoLink), and at any CCCU branch. Payments made by these
in determining the daily balance.
You agree that we, at our sole discretion, may change all terms, including
the transaction currency and the billing currency used for processing
choices will be posted with that day's effective date if received by 4pm
annual percentage rates (APRs), line of credit amount, features and fees,
international transactions is a rate selected by Visa from a range of
local time.
PURCHASES:
any time in accordance with our agreement and applicable law. We may
rates available in wholesale currency markets for the applicable central
The finance charge on Purchases is calculated according to the following
make changes based on information in your credit report, market conditions,
processing date, which may vary from the rate Visa itself receives or the
PRE-AUTHORIZED CARD PAYMENT SERVICE:
method:
business strategies, or for any other reason we may choose. We will provide
government-mandated rate in effect for the applicable central processing
You may pre-authorize CCCU to pay your credit card payment from your
A finance charge will be imposed on Purchases that you obtain through
advanced written notice of a change in terms, as required by law. The
date. The exchange rate used on the processing date may differ from the
savings or checking account each month in the amounts you have elected
the use of your Card, only if you elect not to pay the entire New Balance
address of record, at the time of a change, will be used for such notice.
rate that would have been used on the purchase date or cardholder statement
from the following options:
by the Payment Due Date shown on your monthly statement. The finance
The applicable APRs for your card account will be determined based on
posting date.
The Minimum Payment (3% of the balance on the last day of the
charge will be calculated on the unpaid balance of previous Purchases
the primary cardholder's credit score. A credit score is a number based
billing cycle or $10, whichever is greater).
from the statement closing date and on Purchases made during the current
on a statistical analysis of a person's credit files, which represents the
FOREIGN TRANSACTION FEE:
The total outstanding unpaid balance
billing cycle from the date of posting to the account. The finance charge
creditworthiness of that person, which is the likelihood that the person will
A fee of 3% of the amount of the transaction, calculated in U.S. dollars, will
A fixed amount greater than the monthly Minimum Payment.
will continue to accrue until the closing date of the billing cycle preceding
pay their bills. A credit score, known as FICO, is primarily based on credit
be imposed on all foreign transactions, including purchases, cash advances,
There are no transfer fees or charges for CCCU pre-authorized payment
the date on which the entire New Balance is paid in full.
report information, typically from one of the major credit bureaus. FICO
and credits to your account. A foreign transaction is any transaction that
service.
is a credit score developed by Fair Isaac Corporation. We reserve the right
you complete or a merchant completes on your card outside of the U.S.,
to use the FICO score issued by any major credit bureau of our choosing in
Puerto Rico or the U.S. Virgin Islands. The fee amount will appear on your
determining an APR.
statement directly below the transaction details.