MSUFCU Platinum Plus Visa Credit Card Disclosure

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

12.9% to 17.9% based on your creditworthiness

APRs for Balance 
Transfers

0% introductory APR for six (6) months from date of account opening. Rate then reverts to 
standard rate (12.9% to 17.9%) based on your creditworthiness.

APRs for Cash Advances

12.9% to 17.9% based on your creditworthiness

Penalty APR and 
When It Applies

17.9%
The Penalty APR is applied if your account becomes delinquent 60 days.

How Long Will the Penalty APR Apply? The Penalty Annual Percentage Rate will apply 
indefinitely.

How to Avoid Paying 
Interest on Purchases 

Your due date is at least 25 days after the close of each billing cycle. We will not charge you 
any interest on purchases if you pay your entire balance by the due date each month. 

For Credit Card Tips 
from the Consumer 
Financial Protection 
Bureau

Fees

Transaction Fees
•   International 

transaction and cash 
advance fees

Penalty Fees
•  Late Payment

To learn more about factors to consider when applying for or using a credit card, visit the 
website of the Consumer Financial Protection Bureau at http://www.consumerfinance.gov/
learnmore

1% for ATM transactions 

3% for all other transactions calculated after the transaction has been converted to U.S. dollars

$25 if the minimum payment due is $25 or more;
$15 if the minimum payment due is $15 to $24.99; or
$0 if the minimum payment due is less than $15.

Other Fees
•   Returned Convenience 

$25

Check

How We Will Calculate Your Balance:  We use a method called “average daily balance (including new purchases).”

Loss of Introductory APR:  We may end your introductory APR and apply the Penalty APR if your account becomes delinquent 60 days.

•  You do not have to pay the amount in question, but you are 
responsible for the remainder of your balance.

MSUFCU Visa Credit Card Disclosure

• We can apply any unpaid amount against your credit limit.

Interest Rates and Interest Charges

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 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 think you owe.

If you receive our explanation, but still believe your bill is wrong, 
you must write to us within 10 days 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.

If we do not follow all of the rules above, you do not have to pay 
the first $50.00 of the amount in question, even if your bill is 
correct.

Your Rights If You Are Dissatisfied with Your Credit 
Card Purchases

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.

To use this right, all of the following must be true:

•  The purchase must have been made in your home state or 
within 100 miles of your current mailing address, and the 
purchase price must have been more than $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 the goods or services.)

•  You must have used your credit card for the purchase.  
Purchases made with cash advances from an ATM or with a 
check that accesses your credit card account do not qualify.

• You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied with 
the purchase, contact us in writing or electronically at:

MSU Federal Credit Union 
C/O Visa Department 
PO Box 1208 
East Lansing, MI 48826-1208

msufcu.org

Annual Percentage Rate 
(APR) for Purchases

8.9% to 17.9% 
based on your creditworthiness

APRs for Balance 
Transfers

0% introductory APR for six (6) months from date of account 
opening. Rate then reverts to standard rate (8.9% to 17.9%), based 
on your creditworthiness.

APRs for Cash Advances

8.9% to 17.9% 
based on your creditworthiness

Penalty APR and 
When It Applies

17.9%

The Penalty APR is applied if your account becomes delinquent 60 days.

How Long Will the Penalty APR Apply? The Penalty Annual 
Percentage Rate will apply indefinitely.

How to Avoid 
Paying Interest 
on Purchases 

Your due date is at least 25 days after the close of each billing cycle. 
We will not charge you any interest on purchases if you pay your entire 
balance by the due date each month. 

For Credit Card Tips from 
the Consumer Financial 
Protection Bureau 

To learn more about factors to consider when applying for or 
using a credit card, visit the website of the Consumer Financial 
Protection Bureau at 
http://www.consumerfinance.gov/learnmore

Fees

Transaction Fees

•   International transaction 
and cash advance fees

1% for ATM transactions 

3% for all other transactions calculated after the transaction has 
been converted to U.S. dollars

Penalty Fees

•  Late Payment

$25 if the minimum payment due is $25 or more;

$15 if the minimum payment due is $15 to $24.99; or

$0 if the minimum payment due is less than $15.

Other Fees
•   Returned Convenience 

$25

Check

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.

How We Will Calculate Your Balance:  We use a method called “average daily balance (including new 
purchases).”

Loss of Introductory APR:  We may end your introductory APR and apply the Penalty APR if your 
account becomes delinquent 60 days.

Visa Credit Card Agreement and
Truth-in-Lending Disclosure Statement

In this agreement (called the “Agreement”), the words “you” and “your” 
mean or refer to each and all persons who have applied for the Card 
or Cards. “Card” means the Visa Credit Card or Cards, any duplicates 
and renewals, or substitutions we may issue. “Account” means your 
Visa Credit Card line-of-credit loan account with us. “We,” “us,” and 
“ours” means or refers to this Credit Union. This Agreement is also a 
Truth-in-Lending Disclosure Statement.

1. 

2. 

Responsibility: By activating and using your Visa Credit Card 
line-of-credit loan, you agree to be bound by the terms and 
conditions of this agreement. You promise to repay all debts and 
the FINANCE CHARGE thereon arising from any authorized use 
of the Card. You agree not to let someone else use the Card. If 
you do, you are agreeing with us that you authorize all use that 
person makes of the Card. Therefore, you will be liable for all 
such use of the Card. Once you notify us, we will take prompt 
steps to try to prevent any further Card use by that person. If 
your application is signed by two people, the Account is joint; 
that is, each of you, separately and jointly with each other, are 
liable for all debts on the Account and FINANCE CHARGE. Your 
obligation to pay all such debts and FINANCE CHARGE continues 
even though an agreement, divorce decree, or other court 
judgment to which we are not a party may direct that only one 
of you, or some person other than you (or both of you), must 
pay such debts and FINANCE CHARGE.

Credit Line: We have established a self-replenishing line of 
credit for you and have notified you of the amount thereof 
(“credit limit”) by letter. That letter is incorporated as part of this 
Agreement. You agree not to let your Account balance exceed 
such amount. Each payment you make on the Account will 
replenish your credit limit by the part of that payment which 
is applied to principal. If you have not used your Visa Credit 
Card line of credit loan for 18 months, we reserve the right to 
not reissue your Visa Credit Card(s) as of the expiration date 
and to cancel your line of credit. If you have not activated your 
Visa Credit Card(s), we reserve the right to not reissue your Visa 
Credit Card(s) as of the expiration date. We may reduce your 
credit limit from time to time, change the rate in accordance 
with the conditions of the cardholder information section of 
the Agreement, or may, with good cause, revoke your Card and 
terminate this Agreement. In any event, we will give you written 
notice of such action. “Good cause” includes your failure to 
satisfy the terms of this Agreement or our adverse re-evaluation 
of your creditworthiness. However, you may terminate this 
Agreement, at any time and for any reason, by giving us written 
notice. Nevertheless, termination by you or by us does not affect 
your obligation to pay all debts and FINANCE CHARGES arising 
from authorized use of your Card. The Cards remain our property 

The information about the costs of the card described in this 
disclosure is accurate as of 9/1/17. This information may have 
changed after that date. To find out what may have changed, write 
to us at PO Box 1208, East Lansing, MI  48826-1208 or visit 
msufcu.org.

Federally insured
by NCUA

10%

219 • 09/17
X044R

 
 
 
 
 
and you must recover and surrender to us all Cards upon our 
request or upon termination of this Agreement. 

3.  Using the Card: As soon as received, each Card must be signed 
(in the space provided on the back) by the person whose 
name appears on the front of the Card. That signature must 
be in the same form as appears on the front of the Card. To 
make a purchase or cash advance, there are several alternative 
procedures to be followed. One is for you to present the Card 
to a participating Visa plan merchant or financial institution, 
or to us, and sign the sales draft or cash advance that will 
be imprinted with your Card. Another is to complete the 
transaction by using your personal identification number 
(PIN) in conjunction with the Card, in accordance with the 
instructions given to you by an automated teller machine 
(ATM), or other type of electronic terminal that provides access 
to the Visa system, by a participating Visa plan merchant, by 
us, or by another financial institution. Cash advances can also 
be made by phone or mail request. Please note that we are 
not responsible if a particular Visa plan merchant or financial 
institution refuses to honor your Card. You will receive a copy 
of the draft, which you should retain to verify your monthly 
statement. You agree not to make or permit to be made any 
illegal transactions on your Account through the use of a Card, 
a check or in any other manner. We may deny authorization for 
any internet gambling transaction.

4. 

Finance Charges:  In order to avoid a FINANCE CHARGE on 
purchases made since your last statement, you must pay the 
“Total New Balance” shown on or before the “Statement Due 
Date” shown on that statement (which will not be less than 
25 days from the “Statement Date”). Otherwise, the FINANCE 
CHARGE on purchases is calculated on the next statement 
period on previously billed but unpaid purchases and on new 
purchases from the date they are posted to your account. 
Balance transfers and cash advances are always subject to 
a FINANCE CHARGE from the date they are posted to your 
account. The FINANCE CHARGE (interest) on purchases and 
cash advances is calculated at the Daily Periodic Rate. The 
ANNUAL PERCENTAGE RATE (APR) on purchases, balance 
transfers and cash advances is between 8.9% (0.02438% Daily 
Periodic Rate) and 17.9% (0.04904% Daily Periodic Rate). The 
APR you receive is determined based on your creditworthiness, 
and we have notified you of your APR in the Visa Account-
Opening Credit Disclosures. Balance transfers receive 0% 
APR for the first 6 months from the date the Visa Credit 
Card account is opened. Introductory balance transfer APR 
applies only to balance transfers from another financial 
institution’s credit card. After 6 months, rate will revert to 
your standard rate (between 8.9% and 17.9% ). Separate 
FINANCE CHARGES for purchases, balance transfers, and cash 
advances are determined by multiplying the Daily Periodic 
Rate by the separate average daily balances for purchases, 
balance transfers, and cash advances by the number of 
days in the statement period. Each average daily balance is 
determined by taking the beginning balance (of purchases, 
balance transfers, or cash advances) in your account each day, 
adding any new purchases, balance transfers, or cash advances 
(whichever is applicable), and subtracting any payments or 
credits. The results are the daily balances. All the daily balances 
for the statement period are added and the total is divided by 
the number of days in the statement period to arrive at the 
average daily balances for the period.

5.  Monthly Payment: Each month, you must pay at least 

the minimum payment shown on your statement by the 
Statement Due Date. You may pay more frequently, pay more 
than the minimum payment, or pay the Total New Balance in 
full. If you make extra payments or larger payments, you are 
still required to make at least the minimum payment each 
month your account has a balance. The minimum payment is 
2% of your Total New Balance but not less than $15.00, plus 
the amount of any prior minimum payments that you have 
not paid. In addition, any time your Total New Balance exceeds 
your credit limit, you must immediately pay the excess upon 
demand. If your account becomes 60 days delinquent, the 
penalty ANNUAL PERCENTAGE RATE of 17.9% (0.04904% Daily 
Periodic Rate) will apply. Once imposed, the penalty Annual 
Percentage Rate will apply until you make 6 consecutive 
minimum payments when due. MINIMUM PAYMENT WARNING: 
Making only the minimum payment will increase the amount 
of interest you pay and the time it takes to repay your balance. 
You may call us toll-free at 800-678-4968 to receive information 
about accessing credit counseling and debt management 
services.

6.  Other Charges: 

Late Payment Fee: You may be assessed, and agree to pay, a 
late payment fee for any payment received 7 or more days past 
the payment due date as indicated on your statement. The late 
payment fee is $25.00 if the minimum payment due is $25.00 
or more; $15.00 if the minimum payment due is $15.00 to 
$24.99; or $0 if the minimum payment due is less than $15.00.

Returned Convenience Check: If we do not pay a draft 
written against your account, we will assess, and you agree to 
pay, a charge of $25.00 for each returned draft.

Currency Conversion: When you use your Visa Credit Card 
at a merchant that settles in, or at an ATM that dispenses, 
currency other than U.S. dollars, the charge will be converted 
into the U.S. dollar amount. The currency conversion rate used 
to determine the transaction amount in U.S. dollars is either 
a wholesale market rate or the government-mandated rate 
in effect the day before the processing date. The conversion 
rate in effect on the processing date may differ from the rate 
in effect on the transaction date or posting date. Your account 
will be assessed, and you agree to pay, a 1.00% international 
transaction fee for ATM transactions and a 3.00% international 
transaction fee for "all other" international transactions and 
cash advances. The fee will be calculated after the transaction 
has been converted to U.S. dollars.

Credits: If merchants who honor your Card give you a credit 
for returns or adjustments, they will do so by posting a credit 
to your Account. You should keep your copy of the credit slip 
to verify your monthly statement. If your credits and payments 
exceed what you owe us on the Account, we will credit such 
excess to your savings account or we will refund it upon 
request.

7. 

8. 

9 . 

Security Interest: 
  Shares as Security: To secure performances of your 

obligations under this Agreement, you hereby grant to 
MSUFCU a security of interest in funds you may have 
on deposit with MSUFCU from time to time and in any 
other money MSUFCU may owe you. You understand 
and intend that by reason of such security interest here 

granted, MSUFCU may satisfy your indebtedness under 
this Agreement by charging your deposit account(s) 
maintained with MSUFCU if you default in payment 
under this Agreement, without further notice to you. If a 
specific dollar amount has been pledged, MSUFCU 
will freeze shares in that account to the extent of 
the specified pledge. Otherwise, your shares may be 
withdrawn unless you are in default. This security 
interest does not apply to any Individual Retirement 
Account or any other account that would lose special tax 
treatment under state or federal law if given as security.

  Cross Collateral: Any collateral securing other loans with 

the Credit Union, except loans secured by real property used 
as your principal dwelling or property used for personal, 
family or household purposes, will also secure advances 
made under this agreement.

10.  Loss or Theft of Card:  You agree to notify us immediately 
upon discovering your Card has been lost or stolen.

Card Expiration
Your Card is valid until the expiration date on the front of the 
Card or until the Card has been inactive for 18 consecutive 
months and has a $0 balance, at which time the Card will 
automatically expire. If there is no activity after 24 consecutive 
months, your line of credit will be canceled. After the Card has 
expired, it is no longer valid, you will not be able to use the 
Card and all transactions will be declined. If your Card is active 
within the prior 12 months, you will automatically be issued a 
new Card 7-10 business days prior to its expiration date, unless 
the Card is otherwise terminated. You agree to notify us of any 
change in address for Card reissuance, disclosure and other 
contact purposes.

Consent to Contact
You agree we and our agents may contact you by phone or 
wireless device at any phone number associated with your 
account, including wireless numbers (i.e. cell phone numbers), 
in order to service your account, provide you fraudulent 
activity alerts, or collect any amounts owed to us, excluding 
any contacts for telemarketing purposes as required by law. 
You further agree methods of contact may include, but are not 
limited to, the use of text messages, prerecorded or artificial 
voice messages, and/or use of an automatic dialing service. 
Calls and messages may incur access fees from your cellular 
service provider. You understand that you are not required 
to provide consent as a condition to receiving products or 
services and you may revoke your consent or change the 
phone number provided by contacting us at 517-333-2424 or 
800-678-4968, msufcu.org, or by visiting any MSUFCU branch.

Visa Account Updater (VAU)
VAU is an account updating service in which your Card is 
automatically enrolled. When your Card(s) expire, or are lost 
or stolen, and new cards are issued, the service may update 
relevant Card data (Card numbers, CVV and expiration dates) 
to appropriate merchants who participate in an effort to 
facilitate uninterrupted processing of your recurring charges. 
This service provides updates to our Visa database only. 
The database is accessed only by those qualified merchants 
seeking your account information after you have requested 
they process a recurring payment or payments. You 

understand that neither Visa nor MSUFCU can guarantee that 
your account updates will be communicated to merchants 
prior to your next statement date. This service is provided as 
a free benefit to you. If, at any time, you wish to opt out of the 
VAU service, or if you have any questions, please contact us.

11.  Default: The minimum payment shown on the statement 
is due by the date shown on the statement. You will be in 
default if you fail to make the minimum payment within 7 
days after the Statement Due Date. You will also be in default 
if you breach any other conditions of the Agreement; if we 
determine that your creditworthiness (which includes your 
ability to repay us) has become unsatisfactory due to change 
in employment, increase in your other obligations, or because 
of any other reason; or in the event of your death. In the event 
of any default, the entire balance on the Account becomes 
due and payable immediately. You also agree that, in case of 
default, you will pay all usual and customary costs of collection, 
including reasonable attorney's fees, as permitted by law.

12.  Credit Information: You authorize us to investigate your credit 
standing when opening, renewing, or reviewing your Account, 
and you authorize us to disclose information regarding our 
experience with you under this Agreement to credit bureaus 
and other creditors.

comply with federal and/or state law relating to loan 
documents we are required to keep in our files.

17.  Liability for Unauthorized Use: You may be liable for 
the unauthorized use of your credit card. You will not 
be liable for unauthorized use that occurs after you 
notify MSUFCU, orally or in writing, of the loss, theft, 
or possible unauthorized use. You will have no liability 
for any unauthorized use of your Card, unless you were 
grossly negligent or fraudulent in handling the Card.

YOUR BILLING RIGHTS:  Keep This Document for 
Future Use
This notice informs you about your rights and 
responsibilities under the Fair Credit Billing Act.

What to Do if You Find a Mistake on Your 
Statement

If you think there is an error on your statement, write to us at:

MSU Federal Credit Union 
C/O Visa Department 
PO Box 1208 
East Lansing, MI 48826-1208

13.  Effect of Agreement: This Agreement contains our complete 

You may also contact us online at msufcu.org 

contract relating to the Account and applies to every 
transaction relating to the Account even though a sales, 
balance transfer, or cash advance draft you sign or a credit slip 
may contain different terms.

14.  Amendment of Agreement: From time to time, we may 

amend this Agreement by giving you written notice of the 
amendment at least 45 days before it goes into effect, unless 
a shorter notice period is permitted by law. The notice will be 
sent to your last known address appearing in our records when 
it is sent, and will state the date upon which the amendment 
will become effective. Except where prohibited by law, all such 
changes will apply to new transactions and to amounts you 
already owe, unless you provide notice of your election to 
terminate the account and surrender your Card(s) on or before 
the effective date of the changes, in which case you will be 
entitled to repay your balance in accordance with the terms 
and conditions in effect at that time. We may also offer you a 
repayment method that includes: an amortization period of 
not less than 5 years or a required minimum periodic payment 
that includes a percentage of the outstanding balance that 
is not more than twice the percentage required before the 
effective date of the amendment.

15.  Cash Advance by Machine: If automated teller machines or 
other electronic devices are available while this Agreement 
remains in effect that make it possible for you to obtain a 
cash advance by use of your Card in such a machine, we will 
furnish you with a secret personal identification number. 
Your use of that number, together with your Card, in getting 
a cash advance from such a machine is agreed to constitute 
your signature for purposes of such cash advance. Minimum 
amount of cash advance is $50.00.

16.  Record Keeping: You have agreed that we may keep the 

application which bears your signature so that we can 

In your letter, give us the following information:

• Account information: Your name and account number.  
• Dollar amount: The dollar amount of the suspected error. 
•  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.

You must contact us:

• Within 60 days of the error appearing on your statement.

•  At least three business days before an automated payment is 
scheduled, if you want to stop payment on the amount you 
think is wrong.

You must notify us of any potential errors in writing by mail or 
electronically. If you call us, we are not required to investigate any 
potential errors and you may be required to pay the amount in 
question.

What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

•  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.

•  Within 90 days of receiving your letter, we must either correct 
the error or explain to you why we believe the bill is correct.

While we investigate whether or not there has been an
error:

•  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.