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Consumer
Credit Card
Agreement
And
Disclosure

Important
information about
your credit card.

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This Consumer Credit Card Agreement and Disclosure

together with the Account Opening Disclosure and any

other Account opening documents or any subsequent

documents provided to You related to this Account

(hereinafter collectively referred to as “Agreement”)

govern the terms and conditions of this Account. “We,”

“Us,” “Our” and “Ours” and “Credit Union” refers to

Listerhill Credit Union with which this Agreement is

made. “You,” “Your,” and “Yours” refers to each applicant

and co-applicant for the Account; any person

responsible for paying the Account; and anyone You

authorize to use, access or service the Account. "Card"

means the Visa® credit card and any other access

devices, duplicates, renewals, or substitutions, including

convenience checks, the Credit Union issues to You.

"Account" means the line of credit established by this

Agreement and includes Your Card. 

SECURITY INTEREST

You grant the Credit Union a security interest

under the Uniform Commercial Code and

under any common law rights the Credit

Union may have in any goods You purchase.

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If You give the Credit Union a specic pledge

of shares by signing a separate pledge of

shares, Your pledged shares will secure Your

Account. You may not withdraw amounts that

have been specically pledged to secure Your

Account until the Credit Union agrees to

release all or part of the pledged amount.

You grant Us a security interest in all

individual and joint share and/or deposit

accounts You have with Us now and in the

future to secure Your credit card Account.

Shares and deposits in an IRA or any other

account that would lose special tax

treatment under state or federal law if

given as security are not subject to the

security interest You have given in Your

shares and deposits. You may withdraw

these other shares unless You are in

default. When You are in default, You

authorize Us to apply the balance in these

accounts to any amounts due. For

example, if You have an unpaid credit card

balance, You agree We may use funds in

Your account(s) to pay any or all of the

unpaid balance. You acknowledge and

agree that Your pledge does not apply

during any periods when You are a covered

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borrower under the Military Lending Act.

For clarity, You will not be deemed a

covered borrower, and Your pledge will

apply, if: (i) You established Your credit

card Account when You were not a covered

borrower; or (ii) You cease to be a covered

borrower.

Unless otherwise prohibited by federal and/or

state law, collateral securing other loans You

have with the Credit Union may also secure

this loan, except that a dwelling will never be

considered as security for this Account,

notwithstanding anything to the contrary in

any other Agreement.

1. USING YOUR ACCOUNT — By using the Account or

keeping the Card, You agree to the terms of this

Agreement. You agree to use Your Account in

accordance with this Agreement. Your Account must

only be used for lawful transactions.

2. CREDIT LIMIT — We may establish a credit limit as

part of this Agreement, which You promise not to

exceed. If You exceed the credit limit, You promise to

repay immediately the amount which exceeds the credit

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limit, including amounts due to nance charges, fees or

other charges. You may request a credit limit increase on

Your Account only by a method acceptable to the Credit

Union. We may increase or decrease Your credit limit,

refuse to make an advance and/or terminate Your

Account at any time for any reason permitted by law.

3. CONVENIENCE CHECKS — We may, from time to

time, issue convenience checks to You that may be

drawn on Your Account. Convenience checks may not be

used to make a payment on Your Account. If You use a

convenience check, it will be posted to Your Account as a

cash advance. We reserve the right to refuse to pay a

convenience check drawn on Your Account for any

reason and such refusal shall not constitute wrongful

dishonor. You may request that We stop the payment of

a convenience check drawn on Your Account. You agree

to pay any fee as identied in this Agreement imposed to

stop a payment on a convenience check issued on Your

Account. You may make a stop payment request orally, if

permitted, or in writing. Your request must be made

with sucient time in advance of the presentment of the

check for payment to give Us a reasonable opportunity

to act on Your request. In addition, Your request must

accurately describe the check including the exact

Account number, the payee, any check number that may

be applicable, and the exact amount of the check. If

permitted, You may make a stop payment request orally

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but such a request will expire after 14 days unless You

conrm Your request in writing within that time. Written

stop payment orders are eective only for six months

and may be renewed for additional six month periods by

requesting in writing that the stop payment order be

renewed. We are not required to notify You when a stop

payment order expires.

If We re-credit Your Account after paying a check over a

valid and timely stop payment order, You agree to sign a

statement describing the dispute with the payee, to

assign to Us all of Your rights against the payee or other

holders of the check and to assist Us in any legal action.

You agree to indemnify and hold Us harmless from all

costs and expenses, including attorney's fees, damages,

or claims, related to Our honoring Your stop payment

request or in failing to stop payment of an item as a

result of incorrect information provided to Us or the

giving of inadequate time to act upon a stop payment

request. Note: A convenience check is not a check as that

term is dened under the Uniform Commercial Code. It

is an advance from Your credit card Account with Us and

Your stop payment rights are provided under this

Agreement with Us.

4. REPAYMENT — You promise to repay all amounts You

owe under this Agreement. Your promise to repay

includes all transactions made to Your Account by You or

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anyone You authorize to use Your Account as well as all

interest charges and fees.

For each billing period, You must pay at least the

Minimum Payment Due by the Payment Due Date.

The Minimum Payment Due is 2.00% of Your total New

Balance, or $25.00, whichever is greater, plus any

amount past due and any amount by which You have

exceeded Your applicable credit limit. If Your total New

Balance is less than $25.00, then Your Minimum

Payment Due is the amount of the total New Balance.

You may pay more frequently, pay more than the

Minimum Payment Due or pay the total New Balance in

full.

If You make extra or larger payments, You are still

required to make at least the Minimum Payment Due

each month Your Account has a balance (other than a

credit balance). The Credit Union may delay replenishing

Your credit limit until the date the payment is posted or

the Credit Union conrms the payment has cleared.

Your payment of the required Minimum Payment Due

may be applied to what You owe the Credit Union in any

manner the Credit Union chooses, as permitted by

applicable law. If You make a payment in excess of the

required Minimum Payment Due, the Credit Union will

allocate the excess amount rst to the balance with the

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highest annual percentage rate (“APR”) and any

remaining portion to the other balances in descending

order based on applicable APR, unless otherwise

prescribed by applicable law. We may accept checks

marked "payment in full" or with words of similar eect

without losing any of Our rights to collect the full balance

of Your Account with Us.

5. INTEREST AND FINANCE CHARGES — We will begin

charging You interest on purchases on the date the

transaction is posted to Your Account. We will begin

charging You interest on cash advances and balance

transfers on the date of the transaction or the rst day

of the billing cycle in which the transaction is posted to

Your Account, whichever is later (transaction date).

However, We will not charge You any interest on new

purchases if Your Account had a zero or credit balance at

the beginning of that billing cycle, or You paid the entire

new balance on the previous cycle's billing statement by

the Payment Due Date of that statement. To avoid an

additional nance charge on the balance of purchases,

You must pay the entire new balance on the billing

statement by the Payment Due Date of that statement.

How We Calculate Your Balance:

Interest charges on Your Account are calculated

separately for purchases, balance transfers and cash

advances (“Transaction Type”). We gure the interest

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charge for each Transaction Type by applying the

periodic rate to each corresponding “average daily

balance.” To get the “average daily balance” for a

Transaction Type We take the beginning balance for that

Transaction Type each day, add any new transactions of

that type, and subtract any unpaid interest or other

nance charges and any applicable payments or credits.

This gives Us the daily balance for each Transaction

Type. Then, for each Transaction Type, We add up all the

daily balances for the billing cycle and divide each total

by the number of days in the billing cycle. This gives Us

the “average daily balance” for each Transaction Type.

6. FEES — In addition to the periodic rate, additional fees

may be imposed on Your Account. If applicable to Your

Account, the fee amounts and explanations are

disclosed on the Account Opening Disclosure

accompanying this Agreement.

7. FOREIGN TRANSACTIONS — Purchases and cash

advances made in foreign currencies will be debited

from Your Account in U.S. dollars. The exchange rate

between the transaction currency and the billing

currency used for processing international transactions

is a rate selected by Visa from a range of rates available

in wholesale currency markets for the applicable central

processing date, which rate may vary from the rate Visa

itself receives or the government-mandated rate in

eect for the applicable central processing date The

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eect for the applicable central processing date. The

exchange rate used on the processing date may dier

from the rate that would have been used on the

purchase date or cardholder statement posting date.

A fee (nance charge) will be charged on all transactions

completed in a foreign currency. All fees are calculated

based on the transaction amount after it is converted to

U.S. dollars. These fees are charged except where

excluded. The Foreign Transaction Fee is set forth on the

Disclosure accompanying this Agreement.

8. AUTHORIZATIONS — We do not guarantee

authorization of a transaction, either by Us or by a third

party, even if You have sucient credit available. You

agree that We will not be liable for failing to give an

authorization. We also reserve the right to limit the

number of transactions that may be approved in one

day. We reserve the right to deny certain transactions for

any reason and at Our sole discretion, including for

default, suspected fraudulent or unlawful activity,

internet gambling or any indication of increased risk

related to the transaction or the Account. You agree that

We have no requirement to notify You of the specic

reason We denied a transaction. If We detect unusual or

suspicious activity, We may suspend Your credit

privileges until We can verify the activity, or We may

close the Account.

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9. INFORMATION UPDATING SERVICE AND

AUTHORIZATIONS — If You have authorized a merchant

to bill charges to Your Card on a recurring basis, it is

Your responsibility to notify the merchant in the event

Your Card is replaced, Your Account information (such as

Card number or expiration date) changes, or Your

Account is closed. However, if Your Card is replaced or

Your Account information changes, You authorize Us,

without obligation on Our part, to provide the updated

Account information to the merchant in order to permit

the merchant to bill recurring charges to Your Card. You

authorize Us to apply such recurring charges to Your

Card until You notify Us that You have revoked

authorization for the charges to Your Card.

Your Card is automatically enrolled in an information

updating service. Through this service, Your updated

Account information (such as Card number or expiration

date) may be shared with participating merchants to

facilitate continued recurring charges. Updates are not

guaranteed before Your next payment to a merchant is

due. You are responsible for making direct payment until

recurring charges resume. To revoke Your authorization

allowing Us to provide updated Account information to a

merchant, please contact Us.

10. PREAUTHORIZED CHARGES — We may suspend

preauthorized recurring charges with merchants if, for

example Your Card is lost or stolen You default or We

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example, Your Card is lost or stolen, You default, or We

change Your Account for any reason. If preauthorized

recurring charges are suspended, You are responsible

for making direct payment for such charges until You

contact the merchant to reinstate recurring charges.

11. DEFAULT — You will be in default under this

Agreement if You fail to pay the Minimum Payment Due

by its Payment Due Date; pay by a check or similar

instrument that is not honored or that We must return

because it cannot be processed; pay by automatic debit

that is returned unpaid; make any false or misleading

statements in any credit application or credit update; le

for bankruptcy; or die. You will also be in default if You

fail to comply with the terms of this Agreement or any

other Agreement You have with Us.

If You default, We may close Your Account and require

You to pay any unpaid balance immediately, subject to

applicable law. In this Agreement and on Your Credit

Card Application, You gave Us a security interest in all

individual or joint share and/or deposit accounts with

the Credit Union and authorized Us, if You defaulted, to

apply the balance in these accounts to any amounts due.

You agree We may rely on Your agreement and

authorization to, upon Your default, apply any balance to

any amounts due on Your Account.

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12. LIABILITY FOR UNAUTHORIZED USE-LOST/STOLEN

CARD NOTIFICATION — If You notice the loss or theft of

Your credit card or a possible unauthorized use of Your

Card, You should call Us immediately at 800-239-6033,

Monday through Friday 8:00 a.m. to 5:00 p.m. Eastern

Time, or write to Us at P.O. Box 566, Sheeld, AL, 35660-

0566.

You will not be liable for any unauthorized use that

occurs after You notify Us. You may, however, be liable

for unauthorized use that occurs before Your notice to

Us. You will have no liability for unauthorized use unless

You are found to be fraudulent or negligent in the

handling of Your Account or Card. In any case, Your

liability for unauthorized transactions will not exceed

$50.

13. CHANGING OR TERMINATING YOUR ACCOUNT —

As permitted by law, the Credit Union may change the

terms of this Agreement and any attached Disclosure

from time to time. Notice of any change will be given in

accordance with applicable law. To the extent permitted

by law, changes to the Agreement may apply to Your

existing account balance as well as to future

transactions.

Arizona, California, Idaho, Louisiana, New Mexico,

Nevada, Texas, Washington, and Wisconsin

Residents - Either You, Your spouse or the Credit Union

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may terminate this Agreement at any time, but

termination by You, Your spouse or the Credit Union will

not aect Your obligation to pay the account balance

plus any nance and other charges You or Your spouse

owe under this Agreement. Your obligation to pay the

account balance plus any nance and other charges You

owe under this agreement are subject to all applicable

laws and regulations regarding repayment

requirements. The Card or Cards You receive remain the

property of the Credit Union and You must recover and

surrender to the Credit Union all Cards upon request or

upon termination of this Agreement whether by You or

the Credit Union.

Residents of all other states - Either You or the Credit

Union may terminate this Agreement at any time, but

termination by You or the Credit Union will not aect

Your obligation to pay the account balance plus any

nance and other charges You owe under this

Agreement. Your obligation to pay the account balance

plus any nance and other charges You owe under this

agreement are subject to all applicable laws and

regulations regarding repayment requirements. The

Card or Cards You receive remain the property of the

Credit Union and You must recover and surrender to the

Credit Union all Cards upon request or upon termination

of this Agreement whether by You or the Credit Union.

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14. AUTHORIZED USERS — Upon Your request, We may

issue additional Cards for authorized users that You

designate. You must notify Us in writing of any

termination of an authorized user's right to access Your

Account. Your notice must include the name of the

authorized user and Your Account number and/or any

subaccount number issued to the authorized user along

with the authorized user's Card and any convenience or

other access checks issued to the authorized user. If You

cannot return the authorized user's Card or access

checks and if You request Your Account to be closed, We

will close Your Account and You may apply for a new

Account. Alternatively, We may, at Our sole discretion,

issue You a new Account number and a new Card.

15. CREDIT REPORTS AND NOTICE OF NEGATIVE

INFORMATION — You authorize the Credit Union to

obtain credit reports and any other information We may

need to verify Your identity and use of the Account when

opening Your Account and for any update, increase,

renewal, extension, collection or review of Your Account.

You authorize the Credit Union to disclose information

regarding Your Account to credit bureaus and creditors

who inquire about Your credit standing. We may report

information about Your Account to credit bureaus. Late

payments, missed payments, or other defaults on Your

Account may be reected on Your credit report.

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16. JOINT ACCOUNTS — If this is a joint Account, each of

You will be individually and jointly responsible for paying

all amounts owed under this Agreement. This means

that the Credit Union can require any one of You

individually to repay the entire amount owed under this

Agreement. Each of You authorizes the other(s) to make

transactions on the Account individually. Any one of You

may terminate the Account and the termination will be

eective as to all of You.

17. EFFECT OF AGREEMENT — This Agreement is the

contract which applies to all transactions on Your

Account even though the sales, cash advances, credit or

other slips You sign or receive may contain dierent

terms.

18. SEVERABILITY AND FINAL EXPRESSION — This

Agreement is the nal expression of the terms and

conditions of Your Account. This written Agreement may

not be contradicted by evidence of any alleged oral

Agreement. Should any part of this Agreement be found

to be invalid or unenforceable, all other parts of this

Agreement shall remain in eect and fully enforceable to

the fullest extent possible under this Agreement.

19. ILLEGAL TRANSACTIONS PROHIBITED — You agree

that You will not use Your Card for any transaction,

including any type of electronic gambling transaction

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through the Internet, that is illegal under applicable

federal, state, or local law.

Even if You use Your Card for an illegal transaction, You

will be responsible for all amounts and charges incurred

in connection with the transaction. This paragraph shall

not be interpreted as permitting or authorizing any

transaction that is illegal.

20. APPLICABLE LAW — The terms and enforcement of

this Agreement shall be governed by federal law and the

law of Alabama.

21. ENFORCING THIS AGREEMENT — We can delay in

enforcing or fail to enforce any of Our rights under this

Agreement without losing them.

22. COLLECTION COSTS — If We refer collection of Your

Account to a lawyer who is not Our salaried employee,

You are liable for any reasonable attorney’s fees We

incur, plus the costs and expenses of any legal action, as

further disclosed on this Agreement, or to the extent

allowed by law.

23. ASSIGNMENT — We may assign any or all of Our

rights and obligations under this Agreement to a third

party.

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24. CALIFORNIA RESIDENTS — A married applicant may

apply for a separate Account. Applicants: 1) may, after

credit approval, use the credit card Account up to its

credit limit; 2) may be liable for amounts extended under

the plan to any joint applicant. As required by law, You

are hereby notied that a negative credit report

reecting on Your credit record may be submitted to a

credit reporting agency if You fail to fulll the terms of

Your credit obligations.

25. FLORIDA RESIDENTS — You (borrower) agree that,

should We obtain a judgment against You, a portion

of Your disposable earnings may be attached or

garnished (paid to Us by Your employer), as provided

by Florida and Federal law.

26. MARYLAND RESIDENTS — To the extent, if any, that

Maryland law applies to Your Account, We elect to oer

Your Card Account pursuant to Title 12, Subtitle 9 of the

Maryland Commercial Law Article.

27. MISSOURI RESIDENTS — Oral Agreements or

commitments to loan money, extend credit or to

forbear from enforcing repayment of a debt

including promises to extend or renew such debt are

not enforceable. To protect You (borrower(s)) and Us

(creditor) from misunderstanding or

disappointment, any Agreements We reach covering

such matters are contained in this writing, which is

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the complete and exclusive statement of the

Agreement between Us, except as We may later

agree in writing to modify it.

28. NEW YORK RESIDENTS — We may obtain a credit

report in connection with this Account, including for any

review, modication, renewal or collections associated

with this Account. Upon Your request, You will be

informed whether such report was requested and, if so,

the name and address of the consumer reporting agency

furnishing the report. New York residents may contact

the New York State Banking Department at 800.342.3736

or www.dfs.ny.gov to obtain a comparative listing of

credit card rates, fees and grace periods.

29. 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.

30. SOUTH DAKOTA RESIDENTS — If You believe there

have been any improprieties in making this loan or in

the lender’s loan practices, You may contact the South

Dakota Division of Banking at 1601 N. Harrison Ave,

Suite 1, Pierre, SD 57501, or by phone at 605.773.3421.

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31. WISCONSIN RESIDENTS — If You are married,

please contact Us immediately upon receipt of this

Agreement at the address or phone number listed on

this Agreement and provide Us with the name and

address of Your spouse. We are required to inform Your

spouse that We have opened an Account for You.

32. NOTICE TO UTAH BORROWERS — This written

Agreement is a nal expression of the Agreement

between You and the Credit Union. This written

Agreement may not be contradicted by evidence of any

oral Agreement. As required by law, You are hereby

notied that a negative credit report reecting on Your

credit record may be submitted to a credit reporting

agency if You fail to fulll the terms of Your credit

obligations.

33. THE FOLLOWING IS REQUIRED BY VERMONT LAW

— NOTICE TO CO-SIGNER — YOUR SIGNATURE ON

THIS NOTE MEANS THAT YOU ARE EQUALLY LIABLE

FOR REPAYMENT OF THIS LOAN. IF THE BORROWER

DOES NOT PAY, THE LENDER HAS A LEGAL RIGHT TO

COLLECT FROM YOU.

Your Billing Rights: Keep this Document for Future Use

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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 the address listed on Your statement. 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 after the error appeared 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

or electronically. You may call Us, but if You do We are

not required to investigate any potential errors and

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not required to investigate any potential errors and

You may have to pay the amount in question.

What Will Happen After We Receive Your Letter

When We receive Your letter, We must do two things:

1. Within 30 days of receiving Your letter, We must tell

You that We received Your letter. We will also tell You

if We have already corrected the error.

2. Within 90 days of receiving Your letter, We must

either correct the error or explain to You why We

believe the bill is correct.

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 nish Our investigation, one of two things

will happen:

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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 rst $50 of the amount You

question even if Your bill is correct.

Your Rights if You Are Dissatised With Your

Credit Card Purchases

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If You are dissatised 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. (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.)

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

dissatised with the purchase, contact Us in

writing or electronically at the address listed on

Your statement.

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8/13/2019

Consumer Credit Card Agreement And… | Listerhill Credit Union

While We investigate, the same rules apply to the

disputed amount as discussed above. After We

nish 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.

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