CARD AGREEMENT - PLATINUM ELITE MASTERCARD®, 
PLATINUM ELITE REWARDS MASTERCARD, CLASSIC 
MASTERCARD & BUSINESS MASTERCARD 

Review the information contained in this Agreement about your account. This document, along with the Account 
Opening Disclosure, is an agreement between you and Public Service Credit Union.  If you have any questions, please 
contact us at the phone number on the back of your Card.  We agree to lend you money as described in this 
Agreement, and you agree to pay us back along with any interest charges and fees that apply.  Your use of the Account 
or any payment on the Account indicates that you accept the terms of this Agreement. 

Definitions 

Credit Limit 

In this Agreement, the following words have the following meanings:  
 Account means the revolving credit card account established on your behalf in connection 
with the Card 
 Agreement means this Credit Card Agreement 
 Card or  Cards means the MasterCard  credit card(s) issued by us in connection with your 
Account 
 You and your means any person who applies for, signs, or uses the Card 
 We, us, and our mean Public Service Credit Union (“PSCU”) 

YOUR ACCOUNT 

Your Account will have a credit limit, which we will publish on your periodic billing 
statement. Some of your credit limit may be available for cash advances.  We may cancel, 
change, or restrict your credit limit or credit availability at any time and for any reason 
permitted by law.  We are not obligated to allow your Account to go over its credit limit, but if 
we do allow your Account to go over its credit limit, you are responsible for the total balance.  
If we allow your Account to go over its credit limit we will not charge you a fee, but you agree 
to promptly pay the over-the-limit amount at any time if we ask you to do so. 

Authorized Use 

You are responsible for any use of your Account by anyone you permit to use your Account.  
You will not be responsible for the unauthorized use of your Account that occurs after you 
notify us orally or in writing of the loss, theft or possible unauthorized use by contacting us at 
the number on the back of your Card.  In any case, your liability will not exceed $50.00. 

Joint Account 

Secured Card 

If this is a joint Account, each person on the Account is jointly liable for all amounts owed.  
We may require any individual on the Account to pay the entire amount subject to this 
Agreement.  Each person on the Account authorizes every other person on the Account to 
use the Card as described in this Agreement.  Any person on the Account may close the 
Account and the closure will be effective for every other person on the Account. 

If you have a Classic MasterCard, your Card is secured by an amount on deposit with us, and 
you have separately executed a Credit Card Security Agreement (“Security Agreement”) as 
evidence of our security interest, which is incorporated into this Agreement.  Specific terms 
and conditions related to your secured card and the funds you have provided as a security 
interest can be found in the Security Agreement you signed. 

Security Interest in 
Funds on Deposit 

If you have a Business MasterCard, we have a security interest in any funds you have on 
deposit with our institution.  If you have a Platinum Elite MasterCard, a Platinum Elite 
Rewards MasterCard, or a Business MasterCard, we may require you to sign an additional 
Credit Card Security Agreement (“Security Agreement”) giving us a security interest in funds 
you have on deposit with us as a condition of obtaining credit.  If you sign a Security 
Agreement, that document is incorporated into this Agreement. 

 
              
 
  
 
 
 
 
 
 
Annual Fee 

If your Account has an annual fee under the Rate and Fee Table of this Agreement, you are 
responsible for paying the fee every year your Account is open.  If your Account has an 
annual fee, we will add the fee to your periodic billing statements once per year when the fee 
is due. 

Payment Due Date 

Payments are due on the due date shown on your periodic billing statement, which we will 
send you each month.  The statement will contain information about how to send us your 
payment.  You agree that if you do not make the minimum payment by 10 days after the due 
date, we may charge you a late fee as described on the Rate and Fee Table in this Agreement. 

Minimum Payment 

The minimum payment will be the greater of $25, or 3% of the outstanding balance due at the 
end of the prior billing period.  If the total outstanding balance due is less than $25, the 
minimum payment will be the entire balance due. 

Application of 
Payments 

If you have a consumer Card we will apply your payment first to balances with the highest 
annual percentage rate (APR), then to the balance with the next lowest APR, and so on.  If 
you have a Business MasterCard, we may allocate payments however in any way we choose. 

Default 

Purchases 

Your Account will be in default if (a) you fail to make any minimum payment, over-the-limit 
payment, or any other required payment by the date the payment is due; (b) you break any 
promise to us under this Agreement; (c) we believe you may be unwilling or unable to repay 
what you owe (including because of your bankruptcy, insolvency, incapacity, or death); or you 
have made a false or misleading statement in any application or representation you have 
provided to us.  If your Account is in default, we may close it without further notice or decline 
to authorize any further charges.  We may also demand that you immediately pay the full 
unpaid balance and we may begin collections activities.  To the extent permitted by law, you 
agree to pay all collection costs, court costs, attorneys’ fees, and all other costs of enforcing 
our rights under this Agreement. 

USING YOUR CARD 

You may use your Card to purchase goods and services from merchants and others who 
accept the Card.  We agree to authorize purchases under the terms of this Agreement. 
However, we are not liable if we are unable to authorize a purchase because our authorization 
system is not working, or if any merchant or other financial institution refuses to honor your 
card. 

Cash Advances 

Cash Advances are only permitted on the Classic MasterCard, Platinum Elite MasterCard, and 
Platinum Elite Rewards MasterCard Cards.  You may request that we stop payment on a Cash 
Advance check, for the fee disclosed in the Rates and Fees Table. 

Balance Transfers 

Balance Transfers are only permitted on the Classic MasterCard, Platinum Elite MasterCard, 
and Platinum Elite Rewards MasterCard Cards.  You may request that we stop payment on a 
Balance Transfers check, for the fee disclosed in the Rates and Fees Table. 

Foreign 
Transactions 

Purchases and withdrawals made in foreign countries will be billed to you in U.S. dollars.  The 
currency conversion rate for international transactions is a rate selected from the range of 
rates available in wholesale currency markets for the applicable central processing date, or the 
government-mandated rate in effect for the applicable central processing date.  In addition, 
you will be charged an International Transaction Fee of 1% of the transaction amount for any 
card transaction that involves a currency conversion to U.S. dollars and .8% for international 
transactions that do not involve currency conversions to U.S. dollars from foreign currency. 

 
 
 
 
 
 
 
 
If interest charges apply to a balance on your account, we will calculate the interest on each 
balance.  Different types of transactions, such as balance transfers and cash advances, may 
have different interest rates, and balances within each transaction type may also have different 
interest rates.  We use the average daily balance method (including new transactions) to 
calculate interest charges for each balance: 
 To calculate the Daily Balance for each transaction type, we (a) take the beginning balance 
for each day and add any interest from the prior day and any new transactions or other 
debits (including fees and unpaid interest charges), (b) subtract any payments or credits and 
treat any net credit balance as a zero balance, and (c) the result is the Daily Balance for each 
type of transaction. 
 To calculate the interest charges on your Account, we (a) divide the APR for each 
transaction type by 365 to get the daily interest rate, (b) multiply the daily interest rate for 
each transaction type by the Daily Balance for the corresponding transaction type for each 
day in the billing cycle, and (c) add together the interest charges for each day in the billing 
cycle for each transaction type. 
 We will add transactions and fees to your daily balance no earlier than: 
    -  For new purchases, balance transfers, or cash advances: the date of the transaction 
    -  For cash advance or balance transfer checks: the date the payee deposits the check 
    -  Fees: the date of the related transaction, the date the fee is posted to your Account, or the  
        last day of the billing cycle, whichever we choose 

If your APR is based on the Prime Rate, the APR will increase or decrease with the Prime 
Rate.  For each billing period, we will use the Prime Rate published in The Wall Street Journal 
(or an equivalent published rate) two business days before the closing date of the billing 
period.  If the Prime Rate causes your APR to change, the new APR will be effective as of the 
first date of the billing period for which we calculate the APR.  We will apply the new APR to 
any existing balances. 

OTHER PROVISIONS 

How We Will 
Calculate Interest 

Variable Rate 
Information 

Illegal Use 

You agree not to use or permit anyone else to use your Card unlawfully or for any illegal 
purpose, activity, or transaction. 

Special Offers and 
Promotions 

If we make a special offer or conduct a promotion related to your Account, the terms of the 
offer or promotion are subject to this Agreement and the Account Opening Disclosures 
unless explained otherwise. 

Investigation 
Authorization 

Assignment 

Communication and 
Changes to Your 
Information 

You authorize us to investigate your credit record and verify your credit, employment, and 
income, and further authorize any person, organization, company, or personnel office to 
furnish information pertinent to evaluation of your creditworthiness upon our request.  You 
authorize us to obtain information concerning your creditworthiness from consumer 
reporting agencies, both now and in connection with updates, renewals, and later credit 
extensions. 

We may assign your Account, amounts you owe, or any of our rights or duties under this 
Agreement without further notice to you.  You may not assign your rights or duties under this 
Agreement. 

We may send statements and other communications to the mailing or email address in our 
records.  You agree to notify us immediately of any change to your contact information. 

Changes to the 
Agreement 

We may change this Agreement after giving you any notice required by law.  Any changes will 
apply to your use of the Account after the changes become effective, and changes may apply 
to unpaid balances subject to our sole discretion and applicable law. 

Governing Law 

This Agreement will be governed by the laws of the State of Colorado.