KITSAP
CREDIT CARD ACCOUNT AGREEMENT
AND FEDERAL DISCLOSURE STATEMENT
CREDIT UNION
P.O. Box 990
THIS IS YOUR CREDIT CARD ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY FEDERAL TRUTH-IN-
Bremerton, Washington 98337
LENDING DISCLOSURE STATEMENTS, VISA, VISA REWARDS AND VISA SIGNATURE CASH BACK AGREEMENTS,
(360)
662-2000 (800) 422-5852
AND ANY SPECIAL INSTRUCTIONS REGARDING THE USE OF YOUR VISA, VISA REWARDS AND VISA SIGNATURE
FAX (360) 698-6614
CASH BACK CREDIT CARDS, AND/OR ANY OTHER ACCOUNT ACCESS DEVICE. PLEASE BE CERTAIN TO READ
THIS AGREEMENT CAREFULLY AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.
Interest Rate and Interest Charges
Annual Percentage Rate (APR)
For Purchases
VISA:
0.00
%
Introductory APR for 12
months
After that Your APR will be
9.15-19.15 %,
and will vary with the market based
the Prime Rate.
VISA Rewards:
0.00
%
Introductory APR for 12
months
After that Your APR will be
11.15-21.15 %,
and will vary with the market
based on
VISA Signature Cash Back:
0.00
%
Introductory APR for 12 months
After that Your APR will be
11.15-21.15 %,
and
will
vary
with
the
market
based on
APR For Balance Transfers
VISA: 0.00
% Introductory APR for 12 months
After that Your APR will be 9.15-19.15 %, and will vary with the market based
on the Prime Rate.
VISA Rewards: 0.00
% Introductory APR for 12 months
After that Your APR will be 11.15-21.15%, and will vary with the market based
on the Prime Rate.
VISA Signature Cash Back: 0.00
% Introductory APR for 12 months
After that Your APR will be 11.15-21.15 %, and will vary with the market based
on the Prime Rate.
APR For Cash Advances
VISA: 9.15-19.15 %
This APR will vary with the market based on the Prime Rate.
VISA Rewards: 11.15-21.15 9
This APR will vary with the market based on the Prime Rate.
VISA Signature Cash Back: 11.15-21.15 %
This APR will vary with the market based on the Prime Rate.
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 owed by the due date each month. We
will begin charging interest on cash advances and balance transfers on the transaction date.
For Credit Card Tips from the
To learn more about factors to consider when applying for or using a
Consumer Financial Protection
Credit Card, visit the website of the Consumer Financial Protection Bureau at
Bureau
http://www.consumerfinance.gov/learnmore.
Fees
Transaction Fees
Balance Transfer
3.00% of each transfer ($10.00 minimum)
Foreign Transaction
2.00% of each foreign currency transaction in U.S. Dollars.
1.80% of each U.S. Dollar transaction that occurs in a foreign country.
Penalty Fees
Late Payment
Up to $25.00
Returned Payment
Up to $28.00
Please refer to TOP OF PAGE 2 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2015-2019. All Rights Reserved.
Page of 4
OTBS 016CC KITS_2 (6/19)
How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." See Your
Account Agreement for details.
Billing Rights: Information on Your rights to dispute transactions and how to exercise those rights is provided in Your
Account Agreement.
Please refer to PAGE 1 for more important information about Your Account
DEFINITIONS. In this Agreement, the reference to "We," "Us," "Our" and "Credit Union" mean KITSAP CREDIT UNION. The words "You" and "Your" mean each person
accepting this Agreement. If this is a joint Account, read singular pronouns in the plural. The words "Card" and "Credit Card" mean any VISA, VISA Rewards, or VISA Signature
Cash Back Credit Card issued to You by Us and any duplicates or renewals. The word "Account" means the VISA, VISA Rewards, or VISA Signature Cash Back Credit Card
Account established for You under this Agreement. "Convenience Check" means the special Account access devices that We may provide for Your use from time to time. If
this is a joint Account, read singular pronouns in the plural.
PROMISE TO PAY. You understand that the following terms and conditions constitute Our Agreement with You. You may request advances on Your Account through a variety
of means which could include (but may not be limited to) telephonic requests, Convenience Checks, Credit Cards and the like. Regardless of the means by which any advance
is
made, You promise to pay Us all amounts charged to Your Account by You or by any user who has access to Your Account, with actual, apparent or implied authority for
use of Your Account, including Finance Charges and other fees or charges described herein.
Variable Rate
Monthly
ANNUAL
Credit Card Type
Periodic Rate
PERCENTAGE RATE
Index
Margin
for Purchases
for Purchases
4.75
9.15-19.15
VISA
%
VISA Rewards
4.75
%
11.15-21.15 %
VISA Signature Cash Back
4.75
%
11.15-21.15 9
Monthly
ANNUAL
Variable Rate
Credit Card Type
Periodic Rate
PERCENTAGE RATE
Index
Margin
for Balance Transfers
for Balance Transfers
9.15-19.15
VISA
4.75
%
VISA Rewards
4.75
%
11.15-21.15 %
VISA Signature Cash Back
%
11.15-21.15 9
Variable Rate
Monthly
ANNUAL
Credit Card Type
Periodic Rate
PERCENTAGE RATE
Index
Margin
for Cash Advances
for Cash Advances
9.15-19.15
VISA
4.75
%
VISA Rewards
4.75
%
11.15-21.15 %
VISA Signature Cash Back
%
11.15-21.15
USE OF YOUR CARD. You may use Your Card to buy goods and services in any
at any time without penalty. You also understand that You will only be charged periodic
place that it is honored and to get cash advances at participating financial institutions.
Finance Charges to the date You repay Your entire balance. You may make larger
You agree not to use Your Card for illegal transactions including, but not limited to,
payments without penalty. Any partial payment or prepayment will not delay Your next
advances made for the purpose of gambling and/or wagering where such practices
scheduled payment. All payments to Us must be in lawful money of the United States.
are in violation of applicable state and/or federal law.
We may apply each payment to whichever Card We wish. Except as required by law,
We may apply payments at Our discretion. Any unpaid portion of the Finance Charge
SECURITY. Collateral (other than household goods or any dwelling) given as security
will be paid by subsequent payments and will not be added to Your principal balance.
under any other loan You may have with Us will secure all amounts You owe Us now
You understand that any delay in the repayment of Your unpaid balance will increase
and in the future if that status is reflected in the "Truth-in-Lending Disclosure" in any
Your periodic Finance Charges and any acceleration in the repayment of Your unpaid
particular Agreement evidencing such debt.
balance will decrease Your periodic Finance Charges.
CONSENSUAL LIEN ON SHARES. You grant and consent to a lien on Your
VISA, VISA Rewards and VISA Signature Cash Back Minimum Payments will be an
shares with Us (except for IRA and Keogh accounts) and any dividends due
amount equal to 2.00% of Your new unpaid balance at the end of each billing cycle,
or to become due to You from Us to the extent You owe on any unpaid Credit
subject to the lesser of $25.00 or Your balance, plus any portion of the Minimum
Card balance.
Payments shown on prior statement(s) which remains unpaid, plus any amount that
exceeds Your approved Credit Limit.
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for which
You are approved. Unless You are in default, the Credit Limits established for You will
You may, by separate agreement, authorize Us to charge Your payment directly to
generally be self-replenishing as You make payments. You will keep Your unpaid
Your share or share draft account.
balance within Your Credit Limit set by Us, and You will pay any amount over Your
Credit Limit on Our demand whether or not We authorize the advances which caused
FINANCE CHARGES. In the case of any transactions under Your Account, the
You to exceed Your Credit Limit. Even if Your unpaid balance is less than Your Credit
balances subject to the periodic Finance Charge are the average daily transactions
Limit, You will have no credit available during any time that any aspect of Your Account
balances outstanding during the month (including new transactions). To get the
is in default.
average daily balance, We take the beginning balance of Your Account each day, add
any new purchases, balance transfers, cash advances, debit adjustments or other
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for the
charges and subtract any payments, credits and unpaid Finance Charges. This gives
repayment of any amounts owed. If any Account access device, such as a Personal
Us the daily balance. Then, We add up all the daily balances for the billing cycle and
Identification Number (PIN) is requested and approved, You understand that any such
divide them by the number of days in the billing cycle. The Finance Charge for a billing
Account access device(s) will be mailed only to the primary Borrower at the address
cycle is computed by multiplying the average daily balance subject to a Finance
that We have on file for You. We may refuse to follow any instructions which run
Charge by the applicable Monthly Periodic Rate.
counter to this provision.
You can avoid Finance Charges on purchases by paying the full amount of the entire
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You need only
balance owed each month within 25 days of Your statement closing date. Otherwise,
pay the Minimum Monthly Payments, You understand that You have the right to repay
the new balance of purchases, and subsequent purchases from the date they are
Copyright Oak Tree Business Systems, Inc., 2015-2019. All Rights Reserved.
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OTBS 016CC KITS_2 (6/19)
posted to Your Account, will be subject to a Finance Charge. Balance transfers and
OTHER FEES AND CHARGES. You will be charged the following fees associated with
cash advances are always subject to a Finance Charge from the later of the date they
the use of Your Card: (a) the lesser of $28.00 or the required minimum payment amount
are posted to Your Account or from the first day of the billing cycle in which the
for the returned payment for any check (or other negotiable instrument used for payment)
transaction is posted to Your Account.
which is returned unpaid; (b) a balance transfer fee FINANCE CHARGE equal to the
greater of 3.00% of each transfer or $10.00; and (c) $5.00 for each replacement Card
For VISA, purchase transactions obtained during the
day period immediately
You request.
following the date that Your Account is established, will accrue finance charges at an
introductory Monthly Periodic Rate of
% (corresponding to an
OVERDRAFT PROTECTION. We may transfer funds in the amount necessary (or in
ANNUAL PERCENTAGE RATE of
%) until
such increments as We may from time to time determine) to Your share draft account
Upon the expiration of the introductory rate period, the entire balance of purchase
by an advance on Your Account, subject to this provision, to clear any overdraft on
transactions existing at that time and in the future will accrue finance charges at the
Your share draft account. Whether or not such transfers occur will be controlled by
non-introductory variable rate described elsewhere in this Agreement.
this Agreement. In any event, You hold Us harmless for any and all liability which
might otherwise arise if the transfer does not occur. Overdraft protection automatically
For VISA Rewards, purchase transactions obtained during the
day period
ceases if this Agreement is ever cancelled or terminated or Your Account is in default.
immediately following the date that Your Account is established, will accrue finance
charges at an introductory Monthly Periodic Rate of
%
PERIODIC STATEMENTS. On a regular basis, You will receive a statement showing all
(corresponding to an ANNUAL PERCENTAGE RATE of
%) until
transactions on Your Account including amounts paid and borrowed since Your last
Upon the expiration of the introductory rate period, the
statement. We will mail You a statement each month in which there is a debit or credit
entire balance of purchase transactions existing at that time and in the future will
balance or when a Finance Charge is imposed. We need not send You a statement if
accrue finance charges at the non-introductory variable rate described elsewhere
We feel Your Account is uncollectible or if We have started collection proceedings
in this Agreement.
against You because You defaulted. EACH STATEMENT IS DEEMED TO BE A
CORRECT STATEMENT OF ACCOUNT UNLESS YOU ESTABLISH A BILLING
For VISA Signature Cash Back, purchase transactions obtained during the
day
ERROR PURSUANT TO THE FEDERAL TRUTH-IN-LENDING ACT.
period immediately following the date that Your Account is established, will accrue
finance charges at an introductory Monthly Periodic Rate of
%
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are under no
(corresponding to an ANNUAL PERCENTAGE RATE of
%) until
obligation to honor Your Convenience Checks if: (1) by paying a Convenience Check,
Upon the expiration of the introductory rate period, the
You would exceed Your Credit Limit; (2) Your Cards or Convenience Checks have been
entire balance of purchase transactions existing at that time and in the future will
reported lost or stolen; (3) Your Account has been cancelled or has expired. If a
accrue finance charges at the non-introductory variable rate described elsewhere
postdated Convenience Check is paid and, as a result, any other Convenience Check is
in this Agreement.
returned unpaid, We are not responsible for any resulting loss or liability.
For VISA, except for any credit You currently owe to Us, balance transfer transactions
DEFAULT. You will be in default if: (a) You do not make any payment or perform any
obtained during the
day period immediately following the date that Your
obligation under this Agreement, or any other agreement that You may have with Us;
Account is established, will accrue finance charges at an introductory Monthly Periodic
or (b) You should die, become involved in any insolvency, receivership or custodial
Rate of
% (corresponding to an ANNUAL PERCENTAGE RATE of
proceeding brought by or against You; or (c) You have made a false or misleading
%) until
Upon the expiration of the
statement in Your credit application and/or in Your representations to Us while You
introductory rate period, the entire balance of balance transfers existing at that time
owe money on Your Account; or (d) A judgment or tax lien should be filed against You
and in the future will accrue finance charges at the non-introductory variable rate
or any attachment or garnishment should be issued against any of Your property or
described elsewhere in this Agreement.
rights, specifically including anyone starting an action or proceeding to seize any of
Your funds on deposit with Us; and/or (e) We should, in good faith, believe Your ability
For VISA Rewards, except for any credit You currently owe to Us, balance transfer
to repay Your indebtedness hereunder is or soon will be impaired, time being of the
transactions obtained during the
day period immediately following the date that
very essence.
Your Account is established, will accrue finance charges at an introductory Monthly
Periodic Rate of
% (corresponding to an ANNUAL PERCENTAGE
Upon any occurrence of default, We may, to the extent permitted by law, cancel Your
RATE of
%) until
Upon the expiration of the
rights under this Agreement, require the return of all access devices and declare the
introductory rate period, the entire balance of balance transfers existing at that time
entire balance of every Feature Category of Your Account immediately due and
and in the future will accrue finance charges at the non-introductory variable rate
payable, without prior notice or demand.
described elsewhere in this Agreement.
COLLECTION COSTS. In the event collection efforts are required to obtain payment
For VISA Signature Cash Back, except for any credit You currently owe to Us, balance
on this Account, to the extent permitted by law, You agree to pay all court costs,
transfer transactions obtained during the
day period immediately following the
private process server fees, investigation fees or other costs incurred in collection and
date that Your Account is established, will accrue finance charges at an introductory
reasonable attorneys' fees incurred in the course of collecting any amounts owed
Monthly Periodic Rate of
% (corresponding to an ANNUAL
under this Agreement or in the recovery of any Collateral.
PERCENTAGE RATE of
%) until
Upon the
expiration of the introductory rate period, the entire balance of balance transfers
ENFORCEMENT. We do not lose Our rights under this or any related agreement if We
existing at that time and in the future will accrue finance charges at the non-
delay enforcing them. We can accept late payments, partial payments or any other
introductory variable rate described elsewhere in this Agreement.
payments, even if they are marked "paid in full" without losing any of Our rights under
this Agreement. If any provision of this or any related agreement is determined to be
VARIABLE RATE. Following the expiration of any Introductory Rate period, all
unenforceable or invalid, all other provisions remain in full force and effect.
transactions are subject to a Variable Rate which is based on the highest Prime Rate
as published in the Money Rates section of the Wall Street Journal in effect on the
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You move or
Friday preceding the 27th day of March, June, September, and December of each
otherwise have a change of address.
year ("Index") plus Our Margin. The Index plus the Margin equals the Interest Rate.
Changes in the Index will cause changes in the Interest Rate on the day any
CHANGE IN TERMS. We may change the terms of this Agreement by mailing or
Introductory Rate period expires, and subsequently, on the 1st business day of the
delivering to You written notice of the changes as prescribed by the Federal Truth-In-
calendar quarter that immediately follows a change in the Index. Increases or
Lending Act. To the extent permitted by law, the right to change the terms of this
decreases in the Interest Rate will cause like increases or decreases in the Finance
Agreement includes, but is not limited to, the right to change the periodic rate
Charge and will affect the number of Your scheduled payments.
applicable to Your unpaid balance and/or future advances.
LATE CHARGE. If Your payment is more than 15 days late, You will be charged the
CREDIT INSURANCE. Credit insurance is not required for any extension of credit
lesser of: (a) $25.00; or (b) the amount of the minimum payment due.
under this Agreement. However, You may purchase any credit insurance available
through Us and have the premiums added to Your outstanding balance. If You elect
FOREIGN TRANSACTIONS. For transactions initiated in foreign countries and
to do so, You will be given the necessary disclosures and documents separately.
foreign currencies, the exchange rate between the transaction currency and the billing
currency (U.S. dollars) will be: (a) a rate selected by VISA from the range of rates
INTEGRATED DOCUMENTS. Any separate sheet of paper labeled "Additional
available in wholesale currency markets for the applicable central processing date,
Disclosure-Federal Truth-In-Lending Act," which is delivered together with this Agreement
which rate may vary from the rate VISA itself receives; or (b) the government-
or at a later date becomes an integrated part of this Agreement and Disclosure.
mandated rate in effect for the applicable central processing date. For transactions
that are initiated in a foreign currency, You will be charged 2.00% of the final
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this Agreement.
settlement amount. For transactions occurring in foreign countries and initiated in U.S.
By signing the application; or by using Your Account or any Account access device;
Dollars, You will be charged 1.80% of the final settlement amount.
or by authorizing another to use Your Account, You agree to and accept its terms.
Copyright Oak Tree Business Systems, Inc., 2015-2019. All Rights Reserved.
Page 3 of 4
OTBS 016CC KITS_2 (6/19)
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide facts
Description of problem: If You think there is an error on Your bill, describe what
to update information contained in Your original Account application or other financial
You believe is wrong and why You believe it is a mistake.
information related to You, at Our request. You also agree that We may, from time to
time, as We deem necessary, make inquiries pertaining to Your employment, credit
You must contact Us:
standing and financial responsibility in accordance with applicable laws and
regulations. You further agree that We may give information about the status and
Within 60 days after the error appeared on Your statement.
payment history of Your Account to consumer credit reporting agencies, a prospective
At least three business days before an automated payment is scheduled, if You
employer or insurer, or a state or federal licensing agency having any apparent
want to stop payment on the amount You think is wrong.
legitimate business need for such information.
You must notify Us of any potential errors in writing. You may call Us, but if You do
TERMINATION. Either You or We may cancel Your Account at any time, whether or
We are not required to investigate any potential errors and You may have to pay the
not You are in default. You will, in any case, remain liable to pay any unpaid balances
amount in question.
according to the terms of Your Account.
What Will Happen After We Receive Your Letter
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at any
time without notice. You agree to surrender Your Card and to discontinue its use
When We receive Your letter, We must do two things:
immediately upon Our request.
1)
Within 30 days of receiving Your letter, We must tell You that We received Your
letter. We will also tell You if We have already corrected the error.
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. A Personal Identification
2)
Within 90 days of receiving Your letter, We must either correct the error or
Number (PIN) for use with participating Automated Teller Machines (ATMs) will be
explain to You why We believe the bill is correct.
issued. This PIN is confidential and should not be disclosed to anyone. You may use
Your PIN to access Your Account and all sums advanced will be added to Your
While We investigate whether or not there has been an error:
Account balance. In the event a use of Your PIN constitutes an Electronic Fund
Transfer, the terms and conditions of Your Electronic Fund Transfer Agreement may
We cannot try to collect the amount in question, or report You as delinquent on
also affect Your rights.
that amount.
The charge in question may remain on Your statement, and We may continue
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or other
to charge You interest on that amount.
slips You may sign or receive when using Your Card contain terms, this Agreement is
While You do not have to pay the amount in question, You are responsible for
the contract which solely applies to all transactions involving the Card.
the remainder of Your balance.
We can apply any unpaid amount against Your Credit Limit.
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your Card.
You will not be liable for the unauthorized use that occurs after You notify Us of the
After We finish Our investigation, one of two things will happen:
loss, theft, or possible unauthorized use by calling Us at (800) 422-5852 or by writing
to Us at P.O. Box 990, Bremerton, Washington 98337. In any case, Your liability will
If We made a mistake: You will not have to pay the amount in question or any
not exceed $50.00.
interest or other fees related to that amount.
If We do not believe there was a mistake: You will have to pay the amount in
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not liable for
question, along with applicable interest and fees. We will send You a statement
the refusal or inability of merchants, financial institutions and others to accept the
of the amount You owe and the date payment is due. We may then report You
Cards or Convenience Checks, or electronic terminals to honor the Cards or complete
as delinquent if You do not pay the amount We think You owe.
a Card withdrawal, or for their retention of the Cards or Convenience Checks.
If You receive Our explanation but still believe Your bill is wrong, You must write to Us
TRANSACTION SLIPS. Your monthly statement will identify that merchant, electronic
within 10 days telling Us that You still refuse to pay. If You do so, We cannot report
terminal or financial institution at which transactions were made, but sales, cash
You as delinquent without also reporting that You are questioning Your bill. We must
advances, credit or other slips cannot be returned with the statement.
tell You the name of anyone to whom We reported You as delinquent, and We must
let those organizations know when the matter has been settled between Us. If We do
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit Cards
not follow all of the rules above, You do not have to pay the first $50.00 of the amount
or Convenience Checks, You will immediately call Us at (800) 422-5852 or write to Us
You question even if Your bill is correct.
P.O. Box 990, Bremerton, Washington 98337.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
CREDITS. If a merchant who honors Your Card gives You credit for returns or
adjustments, they will do so by sending Us a slip which will be posted to Your Account.
If Your credits and payments exceed what You owe Us, We will hold and apply this
If You are dissatisfied with the goods or services that You have purchased with Your
credit against future purchases and cash advances, or if it is $1.00 or more refund it
Credit Card, and You have tried in good faith to correct the problem with the merchant,
on Your written request or automatically deposit it to Your share account after
You may have the right not to pay the remaining amount due on the purchase. To use
6 months.
this right, all of the following must be true:
GOVERNING LAW. This Agreement is controlled and governed by the laws of the
1)
The purchase must have been made in Your home state or within 100 miles of
State of Washington, except to the extent that such laws are inconsistent with
Your current mailing address, and the purchase price must have been more than
controlling federal law.
$50.00. (Note: Neither of these are necessary if Your purchase was based on
an advertisement We mailed to You, or if We own the company that sold You
Your Billing Rights: Keep this Document for Future Use
the goods or services.)
2)
You must have used Your Credit Card for the purchase. Purchases made with
This notice tells You about Your rights and Our responsibilities under the Fair
cash advances from an ATM or with a check that accesses Your Credit Card
Credit Billing Act.
account do not qualify.
3)
You must not yet have fully paid for the purchase.
What To Do If You Find A Mistake On Your Statement
If all of the criteria above are met and You are still dissatisfied with the purchase,
If You think there is an error on Your statement, write to Us at P.O. Box 990,
contact Us in writing at Our address shown in this Agreement.
Bremerton, Washington 98337. In Your letter, give Us the following information:
While We investigate, the same rules apply to the disputed amount as discussed above.
Account information: Your name and Account number.
After We finish Our investigation, We will tell You Our decision. At that point, if We think
Dollar amount: The dollar amount of the suspected error.
You owe an amount and You do not pay, We may report You as delinquent.
Copyright Oak Tree Business Systems, Inc., 2015-2019. All Rights Reserved.
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OTBS 016CC