Line of Credit Agreement
Line of Credit Agreement between myself and GTE Federal Credit Union 
(the “credit union”).

The purpose of this agreement is to establish the terms and conditions of a 
line of credit. In this agreement the words “I” or “my” mean each person 
who applies for the MasterCard, MasterCard Gold, Visa, Visa Gold and Visa 
Platinum credit card or who uses the credit card or duplicate credit card.

The  word  “card”  means  your  MasterCard,  MasterCard  Gold,  Visa,  Visa 
Gold and Visa Platinum credit card and duplicates of said card. The word 
“account” means your MasterCard, MasterCard Gold, Visa, Visa Gold and 
Visa Platinum credit card revolving credit account with GTE Federal Credit 
Union.

1. I hereby apply for a line of credit that I can use from time to time and 
which may be replenished by payment on amounts previously drawn.

2.  Using  my  credit  card  establishes  my  agreement  with  these  terms  and 
conditions.  Issuance  by  GTE  Federal  Credit  Union  will  establish  the 
following:

(a) The credit limit approved shall be determined by the credit union, and 
this credit limit will be drawn upon as I utilize an issued credit card.

(b)  The  line  of  credit  will  be  repaid  in  accordance  with  the  terms  and 
conditions issued by MasterCard, Int’l. and Visa USA, Inc. and in accordance 
with policies established by the credit union’s Board of Directors.

3. Interest charged on outstanding balances will be at the rates disclosed 
on any outstanding balances that are not repaid within the allowable “grace 
period” as established by the credit union‘s Board of Directors.

4.  I  promise  to  pay  any  and  all  charges  incurred  by  me  or  by  any  person 
whom  I  authorize  to  use  the  credit  card  issued  to  me.  I  further  agree  to 
pay any fees or charges assessed against me for any services relating to my 
account, including but not limited to fees or charges incurred in the recovery 
of a credit card, in retrieval of transaction data or monthly statements, and 
in collection of this account.

5. As a holder of a credit card, I understand that I can repay any outstanding 
balance prior to maturity, in whole or in part, at my option without penalty.

6. I recognize and agree that I will accept any other conditions established 
by the credit union’s Board of Directors that are necessary to protect the 
best interest of the credit union and to comply with applicable federal and 
state laws and regulations.

7. I agree that the credit union can change the terms of this agreement any 
time. The new terms will apply to new purchases, cash advances, balance 
transfers  and  convenience  checks,  accrued  INTEREST  ChARgES  that 
accrue from these balances and applicable fees. The credit union will mail 
or deliver written notice of the change unless I have already agreed to the 
change,  the  change  involves  late  payment  charges  or  over-limit  charges, 
return payment fee or the change is a reduction of an INTEREST or other 
CHARGE.

8.  I  acknowledge  and  agree  that  the  credit  union  may  terminate  this 
agreement under the following conditions:

(a) Upon adverse re-evaluation of my credit worthiness

(b) Upon my failure to satisfy the terms of this agreement and conditions 
established by the credit union’s Board of Directors and MasterCard, Int’l. 
and Visa USA, Inc.

(c) At my option or at the credit union’s option if it has good cause.

9.  If  my  line  of  credit  is  terminated  by  the  credit  union,  I  shall  receive 
written notice of such termination; however, I understand and acknowledge 
that such termination shall not affect my obligation to pay any outstanding 
balance.

11.  I  understand  that  a  re-application  by  me  and  approval  by  the  credit 
union shall be required if:

(a) The credit limit is increased

(b) The  terms  of  payment  are  extended  beyond  the  terms  of  the  original 
agreement.

12. I fully understand and agree that if my loans become delinquent or past 
due,  my  credit  card  shall  be  revoked,  unless  the  credit  union  determines 
that extenuating circumstances have contributed to the delinquency; under 
such circumstances, the credit union may approve my continued use of the 
credit card.

13. I agree that if it is necessary for the credit union to collect any amounts 
owed pursuant to this agreement through an attorney or by legal means or 
to take any actions in bankruptcy court or other court in connection with this 
agreement, I will pay all costs, including reasonable attorney’s fees.

14.  When  you  use  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 Visa or MasterCard from 
among  the  range  of  rates  available  in  wholesale  currency  markets  or  the 
government-mandated  rate  on  the  date  the  transaction  is  processed. The 
rate chosen may vary from the rate Visa or MasterCard receives. In each 
instance,  a  Foreign  Currency  Conversion  Fee  equal  to  one  percent  of  the 
amount of the transaction (expressed as a positive number) will be assessed 
against your account.

15. SECURITY INTEREST
AS A CONDITION OF CREDIT UNION’S OPENING AND YOUR USE OF 
ANY  CARD  OR  ACCOUNT,  YOU  HEREBY  GRANT  CREDIT  UNION  A 
SECURITY INTEREST IN ALL SHARES AND DEPOSITS WITH CREDIT 
UNION  IN WHICH YOU  HAVE AN  OWNERSHIP  INTEREST  NOW  OR 
HEREAFTER (other than an IRA or an account where this security interest 
would cause the loss of tax-exempt or tax-deferred status).THE SECURITY 
INTEREST IS FOR ALL AMOUNTS OWED TO CREDIT UNION UNDER 
THE TERMS OF THEACCOUNT.  IF YOU ARE IN DEFAULT UNDER ANY 
TERM OF SUCH ACCOUNT, CREDIT UNION SHALL HAVE A RIGHT TO 
IMMEDIATELY  SEIZE YOUR  SHARES AND/OR  DEPOSITS WITHOUT 
NOTICE  OR  DEMAND TO YOU AND TO APPLY  SUCH  FUNDS TO THE 
AMOUNTS OWED TO CREDIT UNION.

Schedule of Current Charges
ITEM  

Return Payment Fee  

Late Payment Fee  

Rush Card Fee  
Rush PIN Fee  
Cash Advance Fee (by teller)  

Cash Advance Fee (by ATM)  

Balance Transfer 

FEE
Not to exceed the 
minimum payment, 
with  a  maximum 
of $25.00.

Not to exceed the 
minimum payment, 
with  a  maximum 
of $25.00.
$ 15.00
$ 15.00
3.00 %
with a 
minimum of 
$5.00

3.00 %
with a 
minimum of 
$5.00 plus 
“surcharge” 
if applicable

3.00%
with a 
minimum of 
$5.00

$  5.00
$   1.00

10. I understand that the credit union is required to review my loan file at 
least once every 6 months, and I hereby give my permission to authorize the 
credit union to investigate and reassess my credit worthiness.

Card Replacement 
Statement Copy (per page)  

Credit Card Payment Fee –  
   CU@Home Web Access, Pay My Bill  
   Branch Transaction (from checking) 
   Mailed to Processing Center  
   Assisted Telephone Payment  
   Credit Card Immediate Payment Fee  
   by processor  
Item Charge for each
   Convenience Check Used  

   Convenience Check Returned  
   Convenience Check Copies  
   Convenience Check Stop Pymt   
Foreign Currency Conversion Fee   

Foreign Non-Currency Conversion Fee 

     Free
     Free
     Free
$   5.00
$   3.00
$   5.00

3.00 %
with a 
minimum of 
$5.00

$ 25.00
$   1.00
$ 29.00
1% of
U.S. Dollar 
Transaction 
Amount
0.8% of
U.S. Dollar 
Transaction 
Amount

DISCLOSURE
REQUIREDB
FEDERALL

A
W

Y

Cash Advances
1. An INTEREST ChARgE accrues on cash advances (which includes cash 
advances, balance transfers, and convenience checks drawn on your credit 
line that are used to obtain cash, consolidate balances, or purchase goods 
and  services)  from  the  date  they  are  made  until  the  date  when  payment 
in full is made for such transactions. There is no time period within which 
to  pay  to  avoid  a  INTEREST  ChARgE. The  INTEREST  ChARgE  for  a 
billing cycle is computed by applying the daily periodic rate to the average 
daily  balance  of  cash  advances,  which  is  determined  by  dividing  the  sum 
of the daily balances by the number of days in the billing cycle. Each daily 
balance of cash advances is determined by adding to the outstanding unpaid 
balance of cash advances at the beginning of the billing cycle any new cash 
advances posted to your account, and subtracting any payments as received 
or credits as posted to your account but excluding any unpaid INTEREST 
ChARgES.

Credit Purchases
1. An INTEREST ChARgE will be imposed on credit purchases only if you 
elect not to pay the entire new balance shown on your monthly statement 
for the previous billing cycle within 25 days from the closing date of that 
statement.  If  you  elect  not  to  pay  the  entire  new  balance  shown  on  your 
previous  monthly  statement  within  that  25  day  period,  an  INTEREST 
ChARgE  will  be  imposed  on  the  unpaid  average  daily  balance  of  such 
credit purchases from the previous statement closing date and on new credit 
purchases from the date of posting to your account during the current billing 
cycle, and will continue to accrue until the closing date of the billing cycle 
preceding the date on which the entire new balance is paid in full or until the 
date of payment if more than 25 days from the closing date.

The INTEREST ChARgE for a billing cycle is computed by applying the 
daily periodic rate to the average daily balance of credit purchases, which is 
determined by dividing the sum of the daily balances during the billing cycle 
by the number of days in the cycle. Each daily balance of credit purchases is 
determined by adding to the outstanding unpaid balance of credit purchases 
at the beginning of the billing cycle any new credit purchases posted to your 
account and subtracting any payments as received and credits as posted to 
your account, but excluding any unpaid INTEREST ChARgES.

Minimum  INTEREST  ChARgE:  If  INTEREST  ChARgES  are  billed  in 
any billing cycle, the minimum billed INTEREST ChARgE will be $0.50.

2.  The  daily  periodic  rate  used  to  compute  your  INTEREST  ChARgE 
on  your  credit  card  is  .02463%  with  a  corresponding  8.99%  ANNUAL 
PERCENTAgE  RATE,  and  .03010%  with  a  corresponding  10.99% 
ANNUAL  PERCENTAgE  RATE,  and  .03558%  with  a  corresponding 
.03832%  with  a 
12.99%  ANNUAL  PERCENTAgE  RATE,  and 

M–102032  

 
 
 
 
 
 
 
 
 
  
 
 
 
 
 
 
 
 
 
 
corresponding 13.99% ANNUAL PERCENTAgE RATE, and .04106% with 
a corresponding 14.99% ANNUAL PERCENTAgE RATE, and .04380% 
with  a  corresponding  15.99%  ANNUAL  PERCENTAgE  RATE,  and 
.04654% with a corresponding 16.99% ANNUAL PERCENTAgE RATE, 
and  .04928%  with  a  corresponding  17.99%  ANNUAL  PERCENTAgE 
RATE. 

shall be jointly and severally liable and agrees to pay for all credit purchases 
and loans obtained through the use of any other card bearing cardholder’s 
account number that has been issued to another person by reason of such 
person  being  a  member  of  cardholder’s  family,  or  otherwise  issued  upon 
cardholder’s request (all such cards bearing the same Visa or MasterCard 
account number is hereinafter collectively called “related cards”).

When you open your account, your daily periodic rate is based on your credit 
worthiness.

3.  The  minimum  periodic  payment  required  is  the  total  new  balance  as 
shown on your monthly billing statement if the amount is under $10.00. If 
the new balance exceeds $10.00, the minimum periodic payment is 2.00% 
of that portion of the new balance which does not exceed your credit limit, 
plus the entire portion of the new balance in excess of your credit limit, plus 
any amount past due, or $10.00 whichever is greater.

3.  Each  card  is  the  property  of  issuer,  is  not  transferable  and  must  be 
surrendered  upon  demand.  It  can  be  cancelled  as  well  as  repossessed 
by  issuer  or  its  designee,  and  the  privileges  thereof  revoked,  at  any  time 
without prior notice.

4. Cardholder shall not use card or permit the use of related cards to obtain 
credit purchases or loans which will increase cardholder’s Visa/MasterCard 
indebtedness  to  issuer  to  an  amount  in  excess  of  the  limit  established  by 
issuer.

4.  In  the  event  of  suit  to  collect  unpaid  balances,  all  costs  including 
attorney’s fees of 10% of the balance due, or such greater amount as may 
be reasonable and just, and also those costs, expenses and attorney’s fees 
incurred in appellate, bankruptcy and post-judgement proceedings, shall be 
imposed,  except  to  the  extent  such  costs,  fees  or  expenses  are  prohibited 
by law.

5. All credit purchases and loans are effected at the option of the seller and 
cash  advancing  bank,  respectively,  and  issuer  shall  not  be  responsible  for 
refusal by any seller or cash advancing bank to honor the card or any related 
card. Any refund, adjustment or credit allowed by seller shall not be by cash 
but rather by a credit advice to issuer which shall be shown as a credit on 
cardholder’s account statement with issuer.

5. Documentary stamp taxes as may be required by law shall be imposed on 
each cash advance at the time the loan is made.

6. Additional charges, plus applicable taxes, may also be assessed if you pay 
us with a check which is not honored by your financial institution, request a 
copy of a document, make delinquent payments, make charges which exceed 
your credit limit, request a cash advance, request a replacement card or use 
your card for a transaction at an automated teller machine, if such charges 
are not prohibited by law or regulation. All such charges shall be treated as 
credit purchases for purposes of calculating INTEREST ChARgES unless 
prohibited by law or regulation.

7.  Credits  (including  merchandise  credits  or  merchant  returns,  statement 
adjustments  or  refunds)  applied  to  accounts  will  not  be  considered  as  a 
payment or partial payment. If a balance remains after a credit is applied, a 
payment will still be required.

8. If you have other loans from issuer, or take out other loans with issuer in 
the future, collateral securing those loans will also secure your obligation 
under this agreement. However, unless you expressly agree otherwise, your 
primary dwelling will not secure your obligations under this agreement even 
if issuer has or later acquired a mortgage on the dwelling.

9. SECURITY INTEREST (see Line of Credit Agreement, #15)

Terms and Conditions
The  person  (“cardholder”)  whose  name  is  embossed  on  the  face  of  the 
VisaTM or MasterCardTM credit card (“card”), and each cardholder, in the 
event more than one card is enclosed herewith by signing or using said card, 
receipt of which is acknowledged, agrees with the issuer of the card, GTE 
Federal Credit Union (“issuer”) as follows:

1. Goods and services (“credit purchases”) may be purchased or leased by 
means  of  such  card  by  cardholder  from  any  retail  business  establishment 
(“seller”) who honors same upon the execution of a sales slip evidencing such 
credit purchases and bearing the account number of cardholder embossed 
on  the  face  of  such  card.  Please  note  that  you  may  not  receive  a  receipt 
for a transfer or purchase of $15 or less. Additionally, Visa or MasterCard 
cash advances (“loans”) may be obtained through use of such card (a) upon 
execution of a written request of cardholder in a form furnished to him from 
any bank that is a member, alone or in association with others, of Visa Inc. 
or MasterCard Int’l and (b) upon execution of a written separate agreement 
with issuer for a Visa/MasterCard overdraft financing agreement, if offered 
by issuer.

2. Cardholder shall be liable and agrees to pay issuer for credit purchases 
made  by,  or  for  loans  extended  to,  cardholder  or  anyone  else  using  such 
card unless the use of such card is by a person other than the cardholder 
(a)  who  does  not  have  actual,  implied  or  apparent  authority  for  such  use, 
and (b) from which cardholder receives no benefit. Additionally, cardholder 

6. Issuer will send to cardholder, at monthly intervals determined by issuer, 
a  statement  reflecting  for  the  prior  monthly  period  all Visa/MasterCard 
card and related card transactions. Such statement shall be deemed correct 
and  accepted  by  cardholder  and  all  holders  of  related  cards  unless  issuer 
is  notified  to  the  contrary  in  writing  within  60  days  of  mailing  of  such 
statement. Cardholder will pay such statement by remitting to issuer within 
25 days of the closing date reflected on the statement either the full amount 
billed  or,  at  the  cardholder’s  option,  an  installment  equal  to  at  least  the 
required minimum payment stated in Item 3 of your disclosure.

7. Interest on loans and credit purchases will be charged in accordance with 
the  INTEREST  ChARgES  calculation  method  referred  to  in  item  1  of 
the disclosure. The rate of interest shall be established by issuer from time 
to  time,  but  shall  never  exceed  the  maximum  rate  permitted  by  law. The 
current interest rate per annum is the ANNUAL PERCENTAgE RATE set 
forth in item 2 of the disclosure.

8. If the card is cancelled or surrender is demanded by issuer, or if cardholder 
defaults in any payment due, or is deceased, bankrupt or insolvent, or any 
attachment or garnishment proceedings are initiated against cardholder or 
his property, issuer may elect to declare all amounts then owed to issuer to 
be immediately due and payable without notice or demand of any kind. If 
cardholder has other loans from issuer, or takes out other loans with issuer 
in the future, collateral securing those loans will also secure the cardholder’s 
obligations under this agreement. However, unless the cardholder expressly 
agrees  otherwise,  the  cardholder’s  primary  dwelling  will  not  secure 
cardholder’s  obligations  under  this  agreement  even  if  issuer  has  or  later 
acquires  a  mortgage  on  the  dwelling.  Cardholder  agrees  to  pay  all  costs 
incurred  by  issuer  in  collecting  cardholder’s  indebtedness  or  in  enforcing 
this agreement, including attorney’s fees of 10% of the unpaid balance or 
such greater amounts as may be reasonable and just, and also those costs, 
expenses  and  attorney’s  fees  incurred  in  appellate,  bankruptcy  and  post-
judgment proceedings, except to the extent such costs, fees or expenses are 
prohibited by law.

9. This agreement may be amended from time to time by issuer by written 
notice mailed to cardholder at cardholder’s last known address.

10.  Except  to  the  extent  that  federal  law  is  applicable,  the  validity, 
construction and enforcement of this agreement and all matters arising out 
of the issuance and use of the card shall be governed by the laws of the state 
in which the card or related cards was issued.

11. Additional charges, plus applicable taxes, may also be assessed if you 
pay us with a check not honored by your financial institution, request a copy 
of a document, make delinquent payments, make charges which exceed your 
credit limit, request a replacement card or use your card for a transaction 
at an automated teller machine, if such charges are not prohibited by law or 
regulation. See Schedule of Current Charges in this disclosure.

12. Cardholder may be liable for the unauthorized use of the card or related 

cards as provided in this paragraph. The cardholder will not be liable for any 
unauthorized use that occurs after issuer is notified, orally or in writing at:

Credit Card Department 
P. O. Box 31112  
Tampa, FL 33631-3112  

Telephone Number
(813) 871-2690 ext. 40401 or
1-888-871-2690 ext. 40401 - during
business hours
1-800-449-7728 - all other times

Consumer Liability Changes

VisaTM

MasterCardTM

No Liability

Limited Consumer Liability

Exceptions

If the lost/stolen card 
is reported within
24 hours of discovery.

$50 if the lost/stolen card is 
reported more than 24 hours 
after discovery.

May be increased if the CU can 
prove that the member has been 
grossly negligent.

If cardholder has a consumer account or a business account for which less 
than 10 cards have been issued, cardholder’s liability for unauthorized use 
of a card will not exceed $50.00. If 10 or more cards are issued for use 
by  employees  of  a  single  business  or  other  organization,  there  is  no  limit 
to  cardholder’s  liability  for  any  unauthorized  use  that  occurs  before  the 
cardholder notifies issuer as provided herein; the business or organization 
may only impose liability on its employees for the unauthorized use of a card 
as authorized by federal law and regulation.

13.  Cardholder  agrees  that  issuer,  its  agents  or  service  companies  may 
monitor and/or record any telephone communications with cardholder.

14. (Visa cardholders only) You agree that you will not use your card for any 
transaction that is illegal under applicable federal, state or local law.

15.  (MasterCard  cardholders  only)  If  you  effect  a  transaction  with  your 
MasterCard  card  in  a  currency  other  than  U.S.  dollars,  MasterCard 
International Incorporated will convert the change into a U.S. dollar amount. 
MasterCard International will use its currency conversion procedure, which 
is  disclosed  to  institutions  that  issue  MasterCard  cards.  Currently  the 
currency  conversion  rate  used  by  MasterCard  International  to  determine 
the  transaction  amount  in  U.S.  dollars  for  such  transactions  is  generally 
either  a  government  mandated  rate  or  a  wholesale  rate  determined  by 
MasterCard International for the processing cycle in which the transaction 
is  processed,  increased  by  an  adjustment  factor  established  from  time  to 
time  by  MasterCard  International. The  currency  conversion  rate  used  by 
MasterCard International on the processing date may differ from the rate 
that would have been used on the purchase date or cardholder statement 
posting date.

Your Billing Rights
Keep This Notice For Future Use

This  notice  contains  important  information  about  your  rights  and  our 
responsibilities under the Fair Credit Billing Act.

Notify us in case of errors or questions about your bill.

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 as soon as possible. We must hear from you no later 
than 60 days after we sent you the first bill on which the error or problem 
appeared. You can telephone us, but doing so will not preserve your rights.

In your letter, give us the following information:

•	 Your	name	and	account	number.
•	 The	dollar	amount	of	the	suspected	error.
•	 Describe	the	error	and	explain,	if	you	can,	why	you	believe	there	is	an	 
error. If you need more information, describe the item you are not sure  
about.

If  you  have  authorized  us  to  pay  your  credit  card  bill  automatically  from 
your savings or checking account, you can stop the payment on any amount 
you think is wrong. To stop payment your letter must reach us three business 
days before the automatic payment is scheduled to occur.

Your Rights and Our Responsibilities After We
Receive Your Written Notice

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.

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 INTEREST ChARgES, and we can apply 
any  unpaid  amount  against  your  credit  limit. You  do  not  have  to  pay  any 
questioned amount while we are investigating, but you are still obligated to 
pay the parts of your bill that are not in question.

If  we  find  that  we  made  a  mistake  on  your  bill,  you  will  not  have  to  pay 
any INTEREST ChARgES related to any questioned amount. If we didn’t 
make a mistake, you may have to pay INTEREST ChARgES, and you will 
have to make up any missed payments on the questioned amount. In either 
case, we will send you a statement of the amount you owe and the date that 
it is due.

If  you  fail  to  pay  the  amount  we  think  you  owe,  we  may  report  you  as 
delinquent. However, if our explanation does not satisfy you and you write to 
us within 10 days telling us that you still refuse to pay, we must tell anyone 
we report you to that you have a question about your bill. And, we must tell 
you the name of anyone we reported you to. We must tell anyone we report 
you to that the matter has been settled between us when it finally is.

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

Your Right to Cancel your Account
You can choose not to accept the changes in this notice by cancelling your 
account. 

If you do not wish to accept the changes regardless of whether your account 
is  closed,  you  may  do  so  by  notifying  us.  Please  call  or  write  us  a  letter 
advising  us  that  you  do  not  want  to  accept  the  change. We  will  need  to 
receive  this  call  or  letter  no  later  than  Month  Date Year.  Please  be  sure 
to include your name, address and account number and send the letter to  
P.O.  Box  172599, Tampa,  FL  33672-0599,  or  call  our  toll  free  number 
1-888-2690, Ext 40436.

Please note that if you do not choose to accept the changes:

– You’ll still be responsible for any outstanding balances on your account.

– Your card will no longer be of use for new activity, including purchases as 
the account will be closed(if it is not already closed)

– Any reward points you have earned will be forfeited unless you call us to 
redeem your points before your account is closed.

If  you  have  any  questions  about  these  changes,  please  contact  us  at  
1-888-871-2690.

Special Rules For Credit Card Purchases
If  you  have  a  problem  with  the  quality  of  property  or  services  that  you 
purchased with a credit card, and you have tried in good faith to correct the 
problem with the merchant, you may have the right not to pay the remaining 
amount due on the property or services. There are two limitations on this 
right:

(a) You must have made the purchase in your home state or, if not within 
your home state, within 100 miles of your current mailing address; and

(b) The purchase price must have been more than $50.

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