CARDHOLDER AGREEMENT

including 

Defined  terms—The  following  terms  have  defined 
meanings  in  this  agreement:  “Account”  means 
the  credit  Account  regulated  by  this  agreement, 
“Card”  means  the  plastic  cards  issued  under  this  
agreement, 
the  numbers  printed  on 
these  plastic  cards;  “we,”  “us”  and  “our”  mean  the  
financial  institution  appearing  on  the  face  of  a 
Card;  “you”  and  “your”  mean  anyone  who  signs  an  
application for this Account or is a guarantor of this 
Account;  and  “Approval  Letter”  means  our  letter  to 
you approving your application and describing some 
of  the  terms  of  the  Account  (the  “Approval  Letter” 
which is part of the agreement).

By  signing,  using  or  activating  a  Card,  you  
accept  the  terms  and  conditions  of  this  agreement 
and  of  the  Approval  Letter.  If  any  provision  of  this  
agreement  is  determined  to  be  unlawful,  the  rest 
of  the  agreement  will  stand  and  the  unlawful  
provision  will  be  deemed  amended  to  conform  to 
applicable law. All Cards are our property and must 
be  returned  to  us  immediately  according  to  our  
instructions,  and  we  may  repossess  a  Card  at  any 
time in our sole discretion.

1. Promise  to  pay—You  agree  to  pay  us  the
total  amount  of  purchases,  cash  advances,  finance 
charges  or  other  fees  or  charges  which  arise  from 
use  of  a  Card  by  you  or  any  other  person,  unless 
the  other  person  does  not  have  actual,  implied,  or 
apparent authority for such use and you receive no 
personal benefit from the use. You agree to be jointly 
and severally liable with anyone else who has made 
the same promise.

2. Credit  limit—Your  credit  limit  is  stated  on  the
credit  card  carrier,  as  well  as  on  your  monthly  

the  amount  due  exceeds  your  credit 

statement.  You  promise 
to  make  purchases 
and  cash  advances  only  up  to  your  credit  limit. 
Your  promise  to  pay  continues  to  apply  even 
if 
limit.  
Obtaining credit in excess of your credit limit does not  
increase your credit limit. We can change your credit 
limit at any time to any amount (including zero). We 
will  state  the  new  credit  limit  on  your  next  monthly 
statement.

3. Purchases  and  cash  advances—You  may
use  your  Card,  up  to  your  credit  limit,  to  buy  or 
lease  goods,  services  or  insurance  wherever  the 
Card  is  honored.  You  may  also  use  your  Card  to 
get  a  cash  advance  from  participating  financial  
institutions.  However,  you  agree  not  to  use  your  
Card  for  any  transaction  that  is  illegal  under  
applicable  federal,  state  or  local  law,  and  you  
understand  that  any  such  use  will  constitute  an 
event  of  default  under  this  agreement.  We  are 
not  responsible  for  the  refusal  of  anyone  to  honor  
your Card.

4. Monthly  statements—We  will  send  you  a
statement  at  the  end  of  each  billing  cycle  in  which 
the Account  has  a  balance.  The  due  date  for  your 
payment will be 25 days after the last day covered 
by the statement.

5. Payments—You    agree    to    make    the    minimum
monthly payments that are described in the Approval 
Letter, and to make all payments on this Account at 
the address specified on your monthly statement. We 
may  accept  late  payments,  partial  payments,  post-
dated checks, or any form of payment containing a 
restrictive  endorsement,  without  losing  any  of  our 
rights  under  this  agreement.  Our  acceptance  of 
checks  or  money  orders  labeled  “payment  in  full” 
or words to that effect, will not constitute an accord 

and satisfaction nor a waiver of any rights we have to 
receive full payment. Payments on your Account that 
exceed the minimum payment due will be allocated 
first  to  the  Account  balance  with  the  highest  APR, 
and  then  to  each  consecutive  Account  balance 
bearing the next highest APR, at the time payment is 
posted to your Account. Payments on your Account 
that do not exceed the minimum payment due will be 
applied in the following order: finance charges, fees, 
any applicable installment balance minimum amount 
due that is calculated separately from the minimum 
payment  due,  the Account  balance  with  the  lowest 
APR,  then  to  each  consecutive  Account  balance 
bearing the next lowest APR at the time payment is 
posted to your Account.

6. Balance  Computation  Method—We  figu-
re  the  interest  charge  on  your  account  by  apply-
ing  the    periodic  rate,  as  stated  in  the  enclosed 
disclosure  table,  to  the  “average  daily  balance”  of 
your account. To get the “average daily balance” we 
take  the  beginning  balance  of  your  account  each 
day,  add  any  new  purchases/advances/fees,  and  
interest  or  other  finance  
subtract  any  unpaid 
charges  and  any  payments  or  credits.  This  gives 
us  the  daily  balance.  Then,  we  add  up  all  the  dai-
ly  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.”  

fee—Cash  advances  are
7. Cash  advance 
subject  to  the  cash  advance  fee  stated  in  the 
enclosed  disclosure  table.  The  cash  advance  fee 
is  a  finance  charge  and  is  imposed  on  the  date  of 
the cash advance. Interest does not  accumulate on 
this fee. The following transactions will be treated as 
cash advances:

• Using your Card to obtain cash from a

participating Automated Teller Machine (“ATM”);

• Using your Card to obtain cash from a

participating financial institution;

• Using a convenience check drawn on the

Account;

• Obtaining money orders, travelers checks,

foreign currency, lottery tickets, casino chips,
vouchers redeemable for cash or similar items.

• Balance Transfers, if identified as cash

advances on your Approval Letter

8. Annual  fee—The  annual  fee,  if  there  is  one,  on
the  Account  is  stated  in  the  enclosed  disclosure 
table. The annual fee is payable whether or not you 
use the Card.

9. Liability for unauthorized use—If you notice the
loss or theft of your Card or a possible unauthorized 
use of your Card or Account, you should write to us 
immediately  at:  P.O.  Box  10409,  Des  Moines,  IA 
50306-0409,  or  call  us  at  1-800-234-5354. You  will 
not  be  liable  for  any  unauthorized  use  that  occurs 
after you notify us. You may, however, be liable for 
unauthorized  use  that  occurs  before  your  notice 
to  us.  However,  if  you  exercise  reasonable  care  in 
safeguarding your card from risk of loss or theft and, 
upon  discovering  the  loss  or  theft  promptly  report 
the loss or theft to us, you will not be liable for any 
unauthorized transactions. In any case, your liability 
will not exceed $50.

10. Default—You will be in default if you fail to make
any minimum payment or other required payment by 
the  date  that  it  is  due.  You  also  will  be  in  default  if 
you violate any other provision of this agreement and 
such violation materially impairs the prospect of you 
paying the amount due on the Account. Upon default, 
we  may  demand  immediate  payment  of  the  entire 
amount due on the Account and we may enforce our 
right to this payment as permitted by law.

the 

rate  on 

range  of 

the  date 

from  among 

International  transactions—When  you  use
11.
your  Card  for  a  transaction  denominated  in  a  
currency  other  than  U.S.  dollars,  the  transaction  
amount  will  be  converted  into  U.S.  dollars  by  
applying  an  exchange  rate  selected  by  the  Card  
Association 
rates  
available  in  wholesale  currency  markets  or  the 
government-mandated 
the  
transaction  is  processed.  The  rate  chosen  may 
vary  from  the  rate  the  Card  Association  itself  
receives.  When  you  use  your  Card 
in  a 
transaction  outside  of  the  United  States  to  make  a  
purchase,  obtain  a  cash  advance,  obtain  a  credit 
voucher,  or  reverse  any  of  these  transactions,  a  
the 
finance  charge  equal 
amount  of  the  transaction  (expressed  as  a  positive  
number)  will  be  assessed  against  your  Account. 
The  foreign  transaction  Fee  is  imposed  on  the  
date of the transaction. Interest does not accrue on  
fee.  “Card  Association” 
the 
means  either  VISA  International  or  MasterCard  
International.

to  one  percent  of 

transaction 

foreign 

reporting—You  authorize  us 

to
12. Credit 
obtain credit reports on you when opening, renewing 
or  reviewing  your Account,  and  you  authorize  us  to 
disclose information regarding your Account to credit 
bureaus  and  other  creditors  who  may  inquire  of  us 
about your credit standing. If you think we reported 
erroneous  information  to  a  credit  reporting  agency, 
write  us  at  the  Cardmember  Service  address  on 
your  billing  statement.  We  will  promptly  investigate 
the matter and, if we agree with you, we will contact 
each  credit  reporting  agency  to  which  we  reported 
and  request  a  correction.  If,  after  our  investigation, 
we  disagree  with  you,  we  will  tell  you  in  writing  or 
by  telephone  how  to  submit  a  statement  to  those 
agencies for inclusion in your credit report.

13. Other fees—The following charges will be char-
ged to your Account as appropriate:

these accounts to any amounts due. Shares and deposits
in an Individual Retirement Account, and any other account
that would lose special tax treatment under state or federal
A.  Late and returned payment fees.
law if given as security are not subject to the security
interest you have given in your shares and deposits.

The  following  charges  may  be  imposed,  if  
applicable: 
•	 Late Payment Fee: A late payment fee, in the
amount indicated in the enclosed disclosure table, 
may be imposed if the required minimum payment 
due is not received by the due date listed on the 
monthly periodic statement.
•	 Returned  Payment  Fee:  A  returned  payment
fee,  in  the  amount  indicated  in  the  enclosed  
disclosure table, may be imposed if your payment 
is returned for any reason.

15.   Effect of Agreement. This Agreement is the contract
which applies to all transactions on your account even
though the sales, cash advance, 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 law. Your use of the
card thereafter will indicate your agreement to the
amendments. To the extent the law permits, and we
indicate in our notice, amendments will apply to your
existing account balance as well as to future transactions.
The Credit Union can delay enforcing any of its rights any
number of times without losing them.

B.  Replacement  Cards,  copies,  and  special  
services.  We  may  charge  you  a  reasonable 
fee  for  issuing  replacement  cards,  expediting  
16.   Terminate This Agreement.  Either the Credit Union
delivery  of  your  card,  an  expedited  payment 
or you may terminate this Agreement at any time, but
method using a service representative, providing 
termination by you or the Credit Union will not affect your
photocopies  and  reprints  that  you  request,  and 
obligation to pay the account balance plus any FINANCE
CHARGES and other charges you owe under this
other special services as allowed by law.
Agreement.  The cards you receive remain the property of
the Credit Union and you must recover and surrender to
14.  Amendments—We  may  amend  or  cancel  this
the Credit Union all cards upon request or upon
agreement  at  any  time  by  getting  your  consent  as 
termination of this Agreement whether by you or the credit
provided  by  law  or  by  giving  you  a  notice  of  the 
union.  Failure to surrender your cards will result in a card
amendments.  Cards  are  property  of  the  Financial 
recovery fee of $75 each, should you attempt to use the
Institution and must be returned at our request.
cards.

17.   Statements and Notices.  You will receive a
YOUR BILLING RIGHTS: 
statement each month showing transactions on your
KEEP THIS DOCUMENT FOR FUTURE USE
account.  You are responsible for your minimum monthly
payment even in the event your statement is late or
returned to the Credit Union.  Statements and notices will
be mailed to you at the most recent address you have
given the Credit Union.  Notice sent to any one of you will
What To Do If You Find A Mistake 
be considered notice to all.
On Your Statement

This  notice  tells  you  about  your  rights  and  our 
responsibilities under the Fair Credit Billing Act.

18.   Cross Collateral.  If cardholder has other loans from
issuer, or takes out other loans with issuer in the future,
collateral securing these loans, excluding any dwellings,
will also secure the Cardholder’s obligations under this
agreement. Cardholder agrees to pay all costs incurred by
issuer in collecting Cardholder’s indebtedness or in
enforcing this agreement, including attorney’s fees as may

If you think there is an error on your statement, write 
to us at:

be reasonable and just and also those costs, expenses
and attorney’s fees incurred in appellate, bankruptcy, and
Member Services
post-judgment  proceedings.
P.O. Box 10409
Des Moines, IA 50306-0409

19.  Convenience Checks.  Credit Card account
Cardholders may sometimes be issued personalized
checks that can be used to access your credit account
In your letter, give us the following information:
without additional service charges other than the accrual
•	 Account  information:  Your  name  and  account
of FINANCE CHARGES.  You can use your convenience
checks to purchase goods and services or to obtain cash
•	 Dollar  amount:  The  dollar  amount  of 
up to the amount of your credit line.  Use of your checks
will be a cash advance on your VISA account.  We are not
required to honor a convenience check that will cause you
to exceed your Credit Line.

•	 Description of problem: If you think there is an
error on your bill, describe what you believe is
wrong and why you believe it is a mistake.

suspected error.

number.

the

statement.

You must contact us:
•	 Within 60 days after the error appeared on your

We will not pay a check if at the time the check is
presented, you are in default or we have suspended,
terminated, or canceled your Account.  Checks may be
used only by the person(s) whose name(s) is on the VISA
account.  You are responsible for all authorized use of your
•	 At  least  3  business  days  before  an  automated
convenience checks.  You may not   use your convenience
payment  is  scheduled,  if  you  want  to  stop
checks to pay any amount which you owe us under your
payment on the amount you think is wrong.
account.  Provided such request is timely, so that we shall
have a reasonable opportunity to act upon it under our
rules, you may order a stop payment on a convenience
check drawn on your account.  We may, but shall not be
obligated to receive such order orally.  In such event, the
order shall be valid for only fourteen (14) days thereafter
unless confirmed in writing.  Written stop payment orders
will remain in effect only six (6) months unless renewed in
What Will Happen After We Receive  
writing.  You have the burden of establishing the fact and
Your Letter
amount of loss resulting from payment contrary to a
binding stop payment.  Convenience checks are the
property of the Credit Union.  We reserve the right to
revoke them at anytime. You agree to return them at our
request.

You must notify us of any potential errors in writing. 
You may call us, but if you do we are not required to 
investigate any potential errors and you may have to 
pay the amount in question.

When  we  receive  your  letter,  we  must  do  two 
things:

1. Within 30 days of receiving your letter, we must
tell you that we received your letter. We will also
20.  Honest Dealing.  You will promptly notify the Credit
tell you if we have already corrected the error.
Union of any information that affects your credit worthiness
or ability to pay off the balance including but not limited to
a change in address or employment.  You will not apply to
increase the Credit Line if you have reason to believe that
you will be unable to make the scheduled payments.

2. Within 90 days of receiving your letter, we must
either correct the error or explain to you why we
believe the bill is correct.

To find out about changes in the information in this
application, write us at IH Mississippi Valley Credit Union,
2121 47th Street, Moline, IL 61265. Residents of Illinois

While  we  investigate  whether  or  not  there  has 
been an error:

may contact the Illinois Commissioner of Banks and Trust
Companies for comparative information on interest rates,
charges, fees and grace periods.  State of Illinois-CIP,P.O.
Box 10181, Springfield, IL  62791:  800-634-5452.

•	 We cannot try to collect the amount in question,
or report you as delinquent on that amount.
• The  charge  in  question  may  remain  on  your
statement, and we may continue to charge you
interest on that amount.

YOUR BILLING RIGHTS

• While  you  do  not  have  to  pay  the  amount  in
- Please Read Carefully -
This notice contains important information about your
question, you are responsible for the remainder 
rights and our responsibilities under the
of your balance.
Fair Credit Billing Act.

• We can apply any unpaid amount against your

credit limit.

Notify Us In Case of Errors or Questions About Your
Bill

After  we  finish  our  investigation,  one  of  two 
things will happen:

•	 If we made a mistake: You will not have to pay
the amount in question or any interest or other
fees related to that amount.

If you think your bill is wrong, or if you need more
information about a transaction on your bill, write us on a
separate sheet at the address listed on your bill.  Write to
us a soon as possible.  We must hear from you no later
than 60 days after we have sent you the first bill on which
the error or problem appeared.  You can telephone us, but
doing so will not preserve your rights.

•	 If  we  do  not  believe  there  was  a  mistake:  You
will  have  to  pay  the  amount  in  question,  along
with  applicable  interest  and  fees.  We  will  send 
you a statement of the amount you owe and the 
date  payment  is  due.  We  may  then  report  you 
as delinquent if you do not pay the amount we 
    Describe the error and explain, if you can, why you
think you owe.
believe there is an error.
    If you need more information, describe the item you

Your name and account number.
The dollar amount of the suspected error and the date.

In your letter, give us the following information:

Your Rights and Our Responsibilities
After We Receive Your Written Notice

If  you  receive  our  explanation  but  still  believe  your 
are not sure about.
bill  is  wrong,  you  must  write  to  us  within  10  days 
Describe attempts to resolve error with the merchant.
telling  us  that  you  still  refuse  to  pay.  If  you  do  so, 
we  cannot  report  you  as  delinquent  without  also  
reporting  that  you  are  questioning  your  bill.  We 
must  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.

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
bill was correct.

If  we  do  not  follow  all  of  the  rules  above,  you  do 
not  have  to  pay  the  first  $50  of  the  amount  you  
question even if your bill is 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.

Your  Rights  If  You  Are  Dissatisfied  With  Your 
Credit Card Purchases

If we find that we made a mistake on your bill, you will not
have to pay any FINANCE CHARGES 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 are dissatisfied with the goods or services that 
you have 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 purchase.
If you fail to pay the amount that we think you owe, we
To use this right, all of the following must be true:
may report you as delinquent.  However, if our explanation
1. The  purchase  must  have  been  made  in  your
does not satisfy you and you write to us within ten days
home  state  or  within  100  miles  of  your  current
telling us that you still refuse to pay, we must tell anyone
mailing  address,  and  the  purchase  price  must
we report you to that you have a question about your bill.
have been more than $50. 
And, we must tell you the name of anyone we reported
you to. We must tell anyone we report you to that the
(Note:  Neither  of  these  are  necessary  if  your 
matter has been settled between us when it finally is.
purchase  was  based  on  an  advertisement  we 
mailed  to  you,  or  if  we  own  the  company  that 
sold you the goods or services.)

If we don’t follow these rules, we can’t collect the first $50
of the questioned amount, even if your bill was correct.

3. You  must  not  yet  have  fully  paid  for  the

2. You  must  have  used  your  credit  card  for  the
purchase. Purchases made with cash advances 
Special Rules for Credit Card Purchases
from an ATM or with a check that accesses your 
credit card account do not qualify.
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:

If  all  of  the  criteria  above  are  met  and  you  are  
still  dissatisfied  with  the  purchase,  contact  us  
in writing at:

(a)  You must have made the purchase in your home
state, or if not within your home state, within 100 miles of
Member Services
your current mailing address; and
P.O. Box 10409
Des Moines, IA 50306-0409

(b)  The purchase price must have been more than $ 50.

purchase.

These limitations do not apply if we own or operate the
merchant, or if we mailed you the advertisement for the
property or services.

While  we  investigate,  the  same  rules  apply  to  the 
disputed  amount  as  discussed  above.  After  we
finish our investigation, we will tell you our decision. 
At that point, if we think you owe an amount and you 
do not pay, we may report you as delinquent.

READ AND RETAIN

Revised May 2007

LS 5146
4/15

G10107
C9622