First National Bank
Credit Card Contract and Initial Disclosure Statement 

M-108909

Please read this contract carefully. Your credit card account is governed by this contract. In the contract, “bank,” “we,” “our” and “us” 
refer to First National Credit Card (Ft. Pierre, SD) and we are the creditor named in the application you signed. “You,” “your” and 
“applicant” are the person(s) who applied to us for the account. “Contract” means the terms and conditions outlined in this contract. 
“Account” means the credit card account we open for you to use to access the credit we extend to you. “Credit limit” means the 
maximum account balance you can have at any time.

1.  Your Responsibility for the Account: You are responsible for the balance on the account and you agree to pay the 
balance under the terms of this contract. You need to sign the back of the card. You need to protect and control the card 
by not letting any other person use it. If you let another person use it, you agree to be responsible for any charges they 
make. We may let you add an authorized user to your account. An authorized user is any person you give permission to 
use the card or your account. If you add an authorized user, you agree to pay for any charges they make as well as any 
related fees or interest. If you do not pay for the charges made by the authorized user, we may choose to collect directly 
from them. If you want to remove an authorized user from your account, you need to get the card from them and notify us. 
If you cannot get the card, contact us immediately and we will close the account to try to stop further charges. The cards 
remain our property and you agree to return them at our request or we have the right to have a merchant keep the card 
and return it to us. If your card is lost or stolen or you suspect unauthorized use of your account, you agree to notify us 
immediately.

2.  Using your Account to Obtain Credit: You can use the card and your account to make charges as long as you do not 
charge more than your credit limit. We can close or suspend the account at any time for any reason including if the activity 
on your account appears suspicious, if we are concerned about repayment or if the balance is over the credit limit. We 
can also limit the number or amount of charges you can make on the account. You may be assigned a PIN (Personal 
Identification Number) or you may request a PIN to use at ATM’s to obtain cash advances. The minimum cash advance is 
$20.00. Your card and account cannot be used for illegal charges.

3.  Your Credit Limit: The credit limit is included in the information sent with your card and on your statements. You may not 
go over your credit limit at any time. If your balance is more than your credit limit, you must pay the amount over your credit 
limit immediately.

4.  Monthly Billing Statements: We will send you a statement every month with the account activity, fees and interest. It will 

also show your minimum payment and payment due date. 

5.  Payments: Payments should be sent to the address on the payment coupon with your billing statement. If you send a 
payment to any other address, there may be a delay in crediting it to your account. We do not lose any of our rights to 
collect the full balance if we accept late payments, partial payments or checks or money orders marked “payment in full” 
or similar language. Do not send us postdated checks. If you do, we may deposit these checks when we receive them and 
will not be liable for any fees that may result. We will post payments when received but we may restrict your ability to make 
new charges against that payment amount for up to thirty (30) days. If your payment is returned unpaid from your bank, 
we may re-present it electronically. If this occurs, your check will not be sent to your bank but they can get a copy of it at 
your request.

6.  Minimum Payment and Monthly Payment: You may pay your entire balance at any time without penalty. You must pay 
at least the minimum payment each month by the payment due date. The payment due date will be at least twenty-five 
(25) days from the closing date. The closing date is the last day of the billing cycle.

   Monthly Payment: If your balance is less than $25, the monthly payment is the balance.  If your balance is greater than 
$25, your monthly payment is the largest amount of either $25 or 3% of your balance or 1% of the balance plus the current 
late fee and interest.

   Minimum Payment: The minimum payment is the sum of any past due monthly payments plus the current monthly payment 

plus any amount over your credit limit. 

7.  Applying your Payments: In general, the payment will be applied in the following order: unpaid interest, unpaid fees and 
other charges; and then principal balance. Payments applied to the principal balance will first be paid to balances at the 
highest annual percentage rate (APR) and then to balances at lower APRs.

8.  Payment Methods: All payments must be made in U.S. dollars and drawn on a financial institution located in the United 

States. Do not send cash through the mail.

9.  When Interest is Charged: Interest will be charged if you did not pay the previous balance in full by the payment due 
date.  We will charge interest on the average daily balance.   Average daily balance starts with the previous balance and 
adds purchases and cash advances as of their post dates and fees and charges as of the transaction dates.  We subtract 
payments and credits as of their post dates.   Then we add the daily balances and divide by the number of days in the 
billing  cycle.      Billing  cycle  means  the  time  between  two  billing  statements.   To  calculate  the  interest,  we  multiply  the 
average daily balance by the monthly periodic rate.   The monthly periodic rate is calculated by dividing the 15.6% annual 
percentage rate by 12 months.  The current monthly periodic rate is 1.30%.  If you are charged interest, the charge will be 
no less than $0.50.

10.  Account Fees: You agree to pay us the following fees which will be billed to your account as a purchase and will accrue 

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interest: 
 a.  Cash Advance Fee: You will be billed a $5 fee for each cash advance taken through an ATM, bank withdrawal or other   
means. 
b.  Late Fee: You will be billed a $10 late fee if your payment is not received by the payment due date.

11.  Lost or Stolen Cards: If your card is lost, stolen or being used without your permission, call us toll free at (888) 883-9824 
24 hours a day. You should also write to us. Do not use the card or account after you have notified us. You will not be 
responsible for paying for any unauthorized use after you notify us of the loss, theft or unauthorized use.

12.  If Card is Refused: We are not responsible and have no liability if your card or account is not accepted for a charge. 
Although you may have the credit available, we may be unable to authorize credit due to system difficulties or mistakes. 
If your account is over the credit limit or past due, authorization for charges should be declined.

13.  Cardholder Privacy: We will send you a privacy notice annually. Your telephone calls with our representatives may be 
recorded for quality and other purposes. We may use automated telephone equipment or pre-recorded telephone calls to 
contact you at any number you provide to us or that we obtain, including any cellular telephone number. You agree that 
we will not be responsible for the release of information to anyone who has gained possession of you card or identification 
number, credit account number or social security number.

14.  Calls and Text Messages to Your Cellular Phone: If you provide us with your cellular phone number or contact us from 
your cellular phone, you are providing this phone number for us, our affiliates or any third party acting on our behalf to 
contact you at this number. You agree that we may use this phone number to contact you for any business purpose about 
your account and you agree to be responsible for any fees or charges you incur as a result of providing this information. 
You may request this number not be used. We may offer options for text messages or other electronic communications that 
may be received or accessed from your cellular phone and you agree that by enrolling in these services, you understand 
and agree to be responsible for any fees or charges you incur as a result of this enrollment.

15.  Your Billing Rights: Keep this Document for Future Use. This notice tells you about your rights and our 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:  First 
National Credit Card, PO Box 5097, Sioux Falls, SD 57117. In your letter, give us the following information: Your name 
and account number; the dollar amount of the suspected error; a description of the 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: 1) Within 60 
days after the error appeared on your statement; and, 2) If you have enrolled in automatic payment, at least 3 business 
days before the 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. 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: 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. While you do not have to pay the amount in question, you are responsible for the remainder 
of your balance. We can apply any unpaid amount against your credit limit.

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 of the amount you 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: 1) 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. These limitations do not apply 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. 2) 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. 3) 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 at: First National Credit Card, PO Box 5097, Sioux 
Falls, SD 57117. 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.

16.  ARBITRATION: PLEASE READ THIS CAREFULLY.  YOU AGREE THAT ANY DISPUTE WILL BE RESOLVED BY 
BINDING ARBITRATION.  ARBITRATION REPLACES THE RIGHT TO GO TO COURT, INCLUDING THE RIGHT 

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TO A JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION OR SIMILAR PROCEEDING.  IN ARBITRATION, 
A DISPUTE IS RESOLVED BY AN ARBITRATOR INSTEAD OF A JUDGE OR JURY.  ARBITRATION PROCEDURES 
ARE  SIMPLER  AND  MORE  LIMITED  THAN  COURT  PROCEDURES.    YOU  ALSO  AGREE  ANY  ARBITRATION 
WILL BE LIMITED TO THE DISPUTE BETWEEN YOU AND US AND WILL NOT BE PART OF A CLASS-WIDE OR 
CONSOLIDATED ARBITRATION PROCEEDING.
Agreement to Arbitrate: You and we agree that any dispute will be resolved by arbitration.  This agreement is governed 
by the Federal Arbitration Act (FAA), 9 USCS § 1 et seq. and the substantive law of the state of South Dakota
Definitions: Arbitration is a means of having an independent third party resolve a dispute.  A “dispute” is any controversy 
or  claim  between  you  and  us.    The  term  dispute  is  to  be  given  its  broadest  possible  meaning  and  includes,  without 
limitation,  all  claims  or  demands  (whether  past,  present  or  future,  including  events  that  occurred  prior  to  the  opening 
of this account), based on any legal or equitable theory (tort, contract or otherwise), and regardless of the type of relief 
sought (i.e. money, injunctive relief or declaratory relief).  A dispute includes, by way of example and without limitation, any 
claim based upon federal or state constitution, statute, ordinance, regulation, or common law, and any issue concerning 
the validity, enforceability or scope of this arbitration agreement.  The term “you” includes any authorized user and also 
your heirs, guardian, personal representative or trustee in bankruptcy.  The term “us” includes our employees, officers, 
directors, attorneys, affiliated companies, predecessors and assigns, as well as our marketing, servicing and collection 
representatives and agents.
Selection of arbitrator:  If a dispute arises, the party asserting the claim or defense must initiate arbitration, provided you 
or we may first try to resolve the matter informally or through customary business methods, including collection activity. 
The party filing arbitration may initiate and pursue the matter with the American Arbitration Association (“AAA”) or JAMS, 
The Resolution Experts or we may agree upon a different arbitrator  described below. If you claim you have a dispute 
with us, but do not initiate arbitration or select an arbitrator, we may do so. You may obtain copies of the current rules of 
arbitration and forms and instructions for initiating arbitration by contacting them as follows:  

American Arbitration Association 
335 Madison Avenue, Floor 10
New York, NY 10017-4605
Website: www.adr.org

         JAMS, The Resolution Experts 

1920 Main Street, Suite 300
Irvine, CA 92614
Website: www.jamsadr.com

          Phone: (949) 224-1810 or (800) 352-5267

The policies and procedures of the arbitrator will apply provided that they are consistent with this arbitration agreement.  
To the extent the arbitrator’s rules or procedures are different than the terms of this arbitration agreement, the terms of this 
arbitration agreement shall apply. If either of the arbitration firms are not available to adjudicate the matter, or if the neither 
is convenient or acceptable to you, you and we may agree on one or more neutral arbitrators. If you and we cannot agree 
on arbitrator(s), an arbitrator will be appointed by a court with jurisdiction over the matter pursuant to the FAA.
Cost of Arbitration: We will pay the filing fee and any costs or fees charged by the arbitrator regardless of whether you 
or we initiate the arbitration.  Except where otherwise provided by applicable law, each party will be responsible for its 
own attorneys’ fees and other expenses.  Unless prohibited by law, the arbitrator may award fees, costs and reasonable 
attorneys’ fees to the party who substantially prevails in the arbitration.
Place of Arbitration: Unless you and we agree to a different location, the arbitration will be held in the same city as the 
U.S. District Court closest to your then-current mailing address. The arbitrator may decide the matter based upon written 
submissions by the parties if permitted under the arbitration rules. 

   Waiver of Rights: You are waiving your right to a jury trial, to have a court decide your dispute, to participate in a class 
action lawsuit and to certain discovery and other procedures that are available in a lawsuit.  The arbitrator has the ability 
to award all remedies available by statute, at law or in equity to the prevailing party.  You and we agree that the arbitrator 
has no authority to conduct class-wide proceedings and will be restricted to resolving the individual disputes between you 
and us.  If an arbitration firm or arbitrator fails or refuses to enforce the waiver of class-wide arbitration, then the dispute will 
proceed in court. The validity, effect and enforceability of this waiver of class action lawsuit and class-wide arbitration is to 
be determined solely by a court of competent jurisdiction and not by the arbitration firm or arbitrator. If such court refuses 
to enforce the class-wide arbitration waiver, then it is agreed the dispute will proceed in court rather than arbitration. 
 Review of Arbitration Award: The arbitrator shall apply applicable federal and South Dakota substantive law and the 
terms of your agreement with us.  The arbitrator shall make written findings and the arbitrator’s award may be filed with 
any court having jurisdiction.  The arbitration award shall be supported by substantial evidence and must be consistent 
with your agreement with us and applicable law or may be set aside by a court upon judicial review. 

   Other Provisions: If any portion of this arbitration agreement is subsequently deemed unenforceable, the enforceability 
of any other provision of this arbitration agreement shall not be affected and the unenforceable term shall be amended 
such that it is enforceable to the maximum extent permitted by law provided that if a class action litigation or a class-wide 
arbitration is permitted for any reason, either party may require that the entire dispute be heard by a Judge, sitting without 
a jury, under applicable court rules and procedures.  This arbitration provision shall survive: (i) termination or changes in 
your agreement with us, your card account, or the relationship between you and us concerning your card account; (ii) the 
bankruptcy of any party; and (iii) any transfer, sale or assignment of the card account, or any amounts owed on the card 
account, to any other person or entity.
Right to Opt-Out: If you do not wish to agree to arbitrate all disputes with us, you must advise us in writing at the following 
address within thirty (30) days of our mailing this agreement to you at the most recent mailing address we have for you: 
First National Credit Card, PO Box 5097, Sioux Falls, SD  57117-5097.

17.  Delay in Enforcement: We can delay enforcing or fail to enforce any of our rights under this contract without losing our 

right to enforce them at a later time.

18.  Credit Reports: You authorize us to obtain credit reports about you for any legitimate business purpose. We may obtain 
a  credit  report  for  reviewing,  modifying  the  terms,  renewing  the  account  or  collecting  on  the  account.  We  may  report 
information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account 
may be reflected in your credit report. You and each authorized user agree that we may report account information to 
credit reporting agencies in the names of both you and the authorized user.

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19.  Change in Terms of Your Credit Account: We may change any term of this contract at any time upon notice to you as 
is required by law. You may have the right to reject the change in terms, depending on the type of change, and if you do, 
your account will be closed and you will be able to pay off the balance under the terms in effect at that time.

20.  Law Governing this Contract: This contract is entered into in the state of South Dakota where the decision to grant credit 
will be made. Therefore, this contract will be governed by the laws of the state of South Dakota applicable to contracts, 
and applicable federal law.

21.  Severability:  If  any  provision  of  this  contract  is  invalid  or  unenforceable  under  any  law,  rule  or  regulation  of  any 
governmental agency, federal, state or local, it shall not affect the validity or enforceability of any other provision of this 
agreement.

22.  Default: You will be in default of this contract if any of the following occur:

a. If you do not make a minimum payment on your account on or before the payment due date;
b. If you die or become legally incompetent;
c. If you become insolvent or bankrupt;
d. If you exceed or attempt to exceed your credit limit;
e. If you provide us with or have provided us with false or misleading information or signatures at any time;
f.  If you fail to comply with this contract;
g. If you request an excessive number of replacement cards; or
h. We reasonably deem the prospect of repayment of your account to be in jeopardy for any reason.

If you are in default, we may immediately cancel your account and we do not have to give you notice of cancellation. We 
can also require that you pay us the balance on your account. You agree that you will return the card(s) to us. Even if an 
account is in default, you agree to pay interest and fees as defined in this contract until your balance is paid in full. If your 
account is in default and you try to make charges, we can use any legal means to recover the card(s) including listing your 
account in warning bulletins and offering rewards for the return of the cards. If you resolve a default situation, we can still 
declare your account in default for the same or different reason at a later time.

23.  Cancellation: You may cancel your account at any time by notifying us in writing at the address on your monthly statement 
and returning all cards issued on your account (cut in half). Even if your account is closed, you agree to pay the balance 
on the account under the terms of this contract. We can suspend your account privileges or cancel your account at any 
time, for any reason. We will notify you after we do so, unless you are in default at that time. We will have no obligation to 
notify you prior to suspending your charging privileges or cancelling your account.

24.  Our  property:  Each  card  that  we  issue  on  your  account  must  be  signed  by  the  person  named  on  it.    You  agree  to 

surrender the card upon demand by us or our agents.

25.  Refund of Initial Fees: If you cancel your account within 90 days after the contract is first mailed to you and if you have 

not used your account for any charges, all fees and interest billed to your account will be credited back to your account.

26.  Collection Costs: Unless prohibited by applicable law, if we start collection proceedings to recover amounts you owe us 

by reason of this contract, you agree to pay reasonable attorney’s fees and other collection costs.

27.  Headings: The headings used in this contract are for the convenience of reference only and are not intended in any way 

to define or describe the scope or intent of any provision of this contract.

28.  State Notices:

a.    California  residents: A  married  applicant  may  apply  for  a  separate  account. As  required  by  law,  you  are  hereby 
notified    that  negative  credit  reporting  may  be  submitted  to  a  credit  reporting  agency  if  you  fail  to  fulfill  the  terms  of 
your credit obligations. After credit approval, each applicant shall have the right to use the account up to the limit of the 
account. Each applicant may be liable for amounts extended under the plan to any joint applicant.

b.  Kentucky residents: You may pay the unpaid balance of your account in whole or in part at any time.

c.  Maine residents: Payment Protection provided herein is voluntary and you have the right to cancel such protection at 
any time.

d.  New York residents: Consumer reports may be requested in connection with the processing of the application and any 
resulting account. Upon your request, we will inform you of the names and addresses of any consumer reporting agencies 
which have provided us with such reports. New York residents may contact the New York Department of Financial Services 
to obtain a comparative list of credit card rates, fees and grace periods. New York Department of Financial Services 1-877-
226-5697 or http://www.dfs.ny.gov.

e.  Ohio  residents: The  Ohio  laws  against  discrimination  require  that  all  creditors  make  credit  equally  available  to  all 
creditworthy  customers,  and  that  credit  reporting  agencies  maintain  separate  credit  histories  on  each  individual  upon 
request. The Ohio Civil Rights Commission administers compliance with this law.

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First National Bank

Interest Rates and Interest Charges

Annual Percentage Rate (APR)
for Purchases

15.6%

APR for Cash Advances

15.6%

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 interest on purchases  if you pay your entire balance by the due date 
each month.

Minimum Interest Charge

If you are charged interest, the charge will be no less than $.50.

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

Annual Fees

$0.00 per year

Transaction Fees

  Cash Advance

Penalty  Fees

  Late Payment

$5.00

$10.00 each time payment is late

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases).”  See Paragraph 
9 of this Contract for more details. 

Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in Paragraph 15 of 
this Contract. 

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