fees. We will send you a statement of the amount you owe 
and the date payment is due. We may then report you as 
delinquent if you do not pay the amount we think you owe.

If you receive our explanation, but still believe your bill is 
wrong, you must write to us within 10 days telling us that 
you still refuse to pay. If you do so, we cannot report you as 
delinquent without also reporting that you are questioning 
your bill. We must tell you the name of anyone to whom 
we reported you as delinquent, and we must let those 
organizations know when the matter has been settled between 
us.

If we do not follow all of the rules above, you do not have to 
pay the first $50.00 of the amount in question, even if your bill 
is correct.

Your Rights If You Are Dissatisfied with Your Credit 
Card Purchases

If you are dissatisfied with the goods or services that you have 
purchased with your credit card and you have tried in good 
faith to correct the problem with the merchant, you may 
have the right not to pay the remaining amount due on the 
purchase.

To use this right, all of the following must be true:

•  The purchase must have been made in your home state or 
within 100 miles of your current mailing address, and the 
purchase price must have been more than $50.00 (Note: 
Neither of these are necessary if your purchase was based on 
an advertisement we mailed to you, or if we own the company  
that sold you the goods or services.)

•  You must have used your credit card for the purchase. 
Purchases made with cash advances from an ATM or with a 
check that accesses your credit card account do not qualify.

• You must not yet have fully paid for the purchase.

If all of the criteria above are met and you are still dissatisfied 
with the purchase, contact us in writing or electronically at:

MSU Federal Credit Union 
C/O Visa Department 
PO Box 1208 
East Lansing, MI 48826-1208

msufcu.org

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.

MSUFCU Visa Signature Credit Card Disclosure

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

APRs for Balance 
Transfers

APRs for Cash Advances

14.9% to 17.9% 
based on your creditworthiness

14.9% to 17.9% 
based on your creditworthiness

14.9% to 17.9% 
based on your creditworthiness

Penalty APR and 
When It Applies

17.9%
The Penalty APR is applied if your account becomes delinquent 60 days.

How Long Will the Penalty APR Apply? The Penalty Annual Percentage Rate 
will apply until you make six (6) consecutive minimum on-time payments and 
the line of credit is current.

How to Avoid Paying 
Interest on Purchases 

Your due date is at least 25 days after the close of each billing cycle. We will 
not charge you any interest on purchases if you pay your entire balance by 
the due date each month. 

For Credit Card Tips from 
the Consumer Financial 
Protection Bureau

To learn more about factors to consider when applying for or using a 
credit card, visit the website of the Consumer Financial Protection Bureau 
at http://www.consumerfinance.gov/learnmore

Fees

Annual Fee

$99; waived the first year and charged on the anniversary date.

International 
Transaction Fees

None

Cash Advance Fee

$0

Penalty Fees
•  Late Payment

$25 if the minimum payment due is $25 or more;
$15 if the minimum payment due is $15 to $24.99; or
$0 if the minimum payment due is less than $15.

Other Fees
•   Returned Convenience 

$25

Check

How We Will Calculate Your Balance:  We use a method called “average daily balance (including new 
purchases).”

The information about the costs of the card described in this 
disclosure is accurate as of 1/1/19. This information may have 
changed after that date. To find out what may have changed, write 
to us at PO Box 1208, East Lansing, MI  48826-1208 or visit 
msufcu.org.

Loss of Introductory APR:  We may end your introductory APR and apply the Penalty APR if your account 
becomes delinquent 60 days.

Federally insured
by NCUA

10%

01/19

Visa Signature Credit Card Agreement and 
Truth-in-Lending Disclosure Statement

In this agreement (called the “Agreement”), the words “you” and 
“your” mean or refer to each and all persons who have applied for 
the Card or Cards. “Card” means the Visa Signature Credit Card or 
Cards, any duplicates and renewals, or substitutions we may issue. 
“Account” means your Visa Signature Credit Card line-of-credit 
loan account with us. “We,” “us,” and “ours” means or refers to this 
Credit Union. This Agreement is also a Truth-in-Lending Disclosure 
Statement.

1. Responsibility: By activating and using your Visa Signature 
Credit Card line-of-credit loan, you agree to be bound by the terms 
and conditions of this agreement. You promise to repay all debts 
and the FINANCE CHARGE arising from any authorized use of the 
Card. You agree not to let someone else use the Card. If you do, you 
are agreeing with us that you authorize all use that person makes 
of the Card. Therefore, you will be liable for all such use of the Card. 
Once you notify us, we will take prompt steps to try to prevent 
any further Card use by that person. If your application is signed 
by two people, the Account is joint; that is, each of you, separately 
and jointly with each other, are liable for all debts on the Account 
and FINANCE CHARGE. Your obligation to pay all such debts and 
FINANCE CHARGE continues even though an agreement, divorce 
decree, or other court judgment to which we are not a party may 
direct that only one of you, or some person other than you (or 
both of you), must pay such debts and FINANCE CHARGE.

2. Credit Line: We have established a self-replenishing line of 
credit for you and have notified you of the amount (“credit limit”) 
by letter. That letter is incorporated as part of this Agreement. 
You agree not to let your Account balance exceed such amount. 
Each payment you make on the Account will replenish your credit 
limit by the part of that payment which is applied to principal. If 
you have not used your Visa Signature Credit Card line-of-credit 
loan for 18 months, we reserve the right to not reissue your Visa 
Signature Credit Card(s) as of the expiration date and to cancel 
your line of credit. If you have not activated your Visa Signature 
Credit Card(s), we reserve the right to not reissue your Visa 
Signature Credit Card(s) as of the expiration date. We may reduce 
your credit limit from time to time, change the rate in accordance 
with the conditions of the cardholder information section of 
the Agreement, or may, with good cause, revoke your Card and 
terminate this Agreement. In any event, we will give you written 
notice of such action. “Good cause” includes your failure to satisfy 
the terms of this Agreement or our adverse re-evaluation of your 
creditworthiness. However, you may terminate this Agreement, 
at any time and for any reason, by giving us written notice. 
Nevertheless, termination by you or by us does not affect your 
obligation to pay all debts and FINANCE CHARGES arising from 

 
 
 
 
 
authorized use of your Card. The Card remains our property and you 
must recover and surrender to us each Card upon our request or upon 
termination of this Agreement. 

3. Using the Card: As soon as received, each Card must be signed (in 
the space provided on the back) by the person whose name appears 
on the front of the Card. That signature must be in the same form as 
appears on the front of the Card. To make a purchase or cash advance, 
there are several alternative procedures to be followed. One is for you 
to present the Card to a participating Visa plan merchant or financial 
institution, or to us, and sign the sales draft or cash advance that will 
be imprinted with your Card. Another is to complete the transaction 
by using your personal identification number (PIN) in conjunction 
with the Card, in accordance with the instructions given to you by an 
automated teller machine (ATM), or other type of electronic terminal 
that provides access to the Visa system, by a participating Visa plan 
merchant, by us, or by another financial institution. Cash advances can 
also be made by phone or mail request. Please note that we are not 
responsible if a particular Visa plan merchant or financial institution 
refuses to honor your Card. You will receive a copy of the draft, which 
you should retain to verify your monthly statement. You agree not to 
make, or permit to be made, any illegal transactions on your Account 
through the use of a Card, check, or in any other manner. We may 
deny authorization for any internet gambling transaction.

4. Finance Charges:  In order to avoid a FINANCE CHARGE on 
purchases made since your last statement, you must pay the “Total 
New Balance” shown on or before the “Statement Due Date” shown 
on that statement (which will not be less than 25 days from the 
“Statement Date”). Otherwise, the FINANCE CHARGE on purchases 
is calculated on the next statement period on previously billed but 
unpaid purchases and on new purchases from the date they are 
posted to your account. Balance transfers and cash advances are 
always subject to a FINANCE CHARGE from the date they are posted 
to your account. The FINANCE CHARGE (interest) on purchases and 
cash advances is calculated at the Daily Periodic Rate. The ANNUAL 
PERCENTAGE RATE (APR) on purchases, balance transfers and cash 
advances is between 14.9% (0.04082% Daily Periodic Rate) and 17.9% 
(0.04904% Daily Periodic Rate). The APR you receive is determined 
based on your creditworthiness, and we have notified you of your APR 
in the Visa Account-Opening Credit Disclosures. Separate FINANCE 
CHARGES for purchases, balance transfers, and cash advances are 
determined by multiplying the Daily Periodic Rate by the separate 
average daily balances for purchases, balance transfers, and cash 
advances by the number of days in the statement period. Each 
average daily balance is determined by taking the beginning balance 
(of purchases, balance transfers, or cash advances) in your account 
each day, adding any new purchases, balance transfers, or cash 
advances (whichever is applicable), and subtracting any payments or 
credits. The results are the daily balances. All the daily balances for the 
statement period are added and the total is divided by the number of 
days in the statement period to arrive at the average daily balances for 
the period.

5. Monthly Payment: Each month, you must pay at least the 
minimum payment shown on your statement by the Statement Due 
Date. You may pay more frequently, pay more than the minimum 
payment, or pay the Total New Balance in full. If you make extra 
payments or larger payments, you are still required to make at least 

the minimum payment each month your account has a balance. The 
minimum payment is 2% of your Total New Balance but not less than 
$15.00, plus the amount of any prior minimum payments that you have 
not paid. In addition, any time your Total New Balance exceeds your 
credit limit, you must immediately pay the excess upon demand. If your 
account becomes 60 days delinquent, the penalty ANNUAL PERCENTAGE 
RATE of 17.9% (0.04904% Daily Periodic Rate) will apply. Once imposed, 
the penalty Annual Percentage Rate will apply until you make 6 
consecutive minimum on-time payments and the line of credit is current. 

MINIMUM PAYMENT WARNING: Making only the minimum payment will 
increase the amount of interest you pay and the time it takes to repay 
your balance. You may call us at 800-678-4968 to receive information 
about accessing credit counseling and debt management services.

6. Other Charges: 

Annual Fee: An annual fee of $99 is waived the first year and charged on 
the anniversary date.

Late Payment Fee: You may be assessed, and agree to pay, a late 
payment fee for any payment received 7 or more days past the payment 
due date as indicated on your statement. The late payment fee is $25.00 
if the minimum payment due is $25.00 or more; $15.00 if the minimum 
payment due is $15.00 to $24.99; or $0 if the minimum payment due is 
less than $15.00.

Returned Convenience Check: If we do not pay a draft written against 
your account, we will assess, and you agree to pay, a charge of $25.00 for 
each returned draft.

7. Currency Conversion: When you use your Visa Signature Credit Card 
at a merchant that settles in, or at an ATM that dispenses, currency 
other than U.S. dollars, the charge will be converted into the U.S. 
dollar amount. The currency conversion rate used to determine the 
transaction amount in U.S. dollars is either a wholesale market rate or 
the government-mandated rate in effect the day before the processing 
date. The conversion rate in effect on the processing date may differ 
from the rate in effect on the transaction date or posting date.

8. Credits: If a merchant that honors your Card gives you credit for 
returns or adjustments, they will do so by posting a credit to your 
Account. You should keep your copy of the credit slip to verify your 
monthly statement. If your credits and payments exceed what you owe 
us on the Account, we will credit such excess to your savings account or 
we will refund it upon request.

9. Security Interest: 

Shares as Security: To secure performances of your obligations 
under this Agreement, you hereby grant to MSUFCU a security 
of interest in funds you may have on deposit with MSUFCU from 
time to time and in any other money MSUFCU may owe you. You 
understand and intend that by reason of such security interest 
here granted, MSUFCU may satisfy your indebtedness under this 
Agreement by charging your deposit account(s) maintained with 
MSUFCU if you default in payment under this Agreement, without 
further notice to you. If a specific dollar amount has been pledged, 
MSUFCU will freeze shares in that account to the extent of the 
specified pledge. Otherwise, your shares may be withdrawn unless 
you are in default. This security interest does not apply to any 
Individual Retirement Account or any other account that would lose 
special tax treatment under state or federal law if given as security.

Cross Collateral: Any collateral securing other loans with the Credit 
Union, except loans secured by real property used as your principal 
dwelling or property used for personal, family or household purposes, 
will also secure advances made under this agreement.

10. Loss or Theft of Card:  You agree to notify us immediately upon 
discovering your Card has been lost or stolen.

Card Expiration
Your Card is valid until the expiration date on the front of the Card or 
until the Card has been inactive for 18 consecutive months and has a 
$0 balance, at which time the Card will automatically expire. If there 
is no activity after 24 consecutive months, your line of credit will be 
canceled. After the Card has expired, it is no longer valid, you will 
not be able to use the Card, and all transactions will be declined. If 
your Card is active within the prior 12 months, you will automatically 
be issued a new Card 7-10 business days prior to its expiration date, 
unless the Card is otherwise terminated. You agree to notify us of any 
change in address for Card reissuance, disclosure and other contact 
purposes.

Consent to Contact
You agree we and our agents may contact you by phone or wireless 
device at any phone number associated with your account, including 
wireless numbers (i.e. cell phone numbers), in order to service your 
account, provide you fraudulent activity alerts, or collect any amounts 
owed to us, excluding any contacts for telemarketing purposes as 
required by law. You further agree methods of contact may include, 
but are not limited to, the use of text messages, prerecorded or 
artificial voice messages, and/or use of an automatic dialing service. 
Calls and messages may incur access fees from your cellular service 
provider. You understand that you are not required to provide 
consent as a condition to receiving products or services and you 
may revoke your consent or change the phone number provided by 
contacting us at 517-333-2424 or 800-678-4968, msufcu.org, or by 
visiting any MSUFCU branch.

Visa Account Updater (VAU)
VAU is an account updating service in which your Card is 
automatically enrolled. When your Card(s) expire, or are lost or 
stolen, and new cards are issued, the service may update relevant 
Card data (Card numbers, CVV and expiration dates) to appropriate 
merchants who participate in an effort to facilitate uninterrupted 
processing of your recurring charges. This service provides updates 
to our Visa database only. The database is accessed only by those 
qualified merchants seeking your account information after you 
have requested they process a recurring payment or payments. You 
understand that neither Visa nor MSUFCU can guarantee that your 
account updates will be communicated to merchants prior to your 
next statement date. This service is provided as a free benefit to you. 
If, at any time, you wish to opt out of the VAU service, or if you have 
any questions, please contact us.

11. Default: The minimum payment shown on the statement is 
due by the date shown on the statement. You will be in default 
if you fail to make the minimum payment within 7 days after the 
Statement Due Date. You will also be in default if you breach any 
other conditions of the Agreement; if we determine that your 
creditworthiness (which includes your ability to repay us) has become 
unsatisfactory due to change in employment, increase in your other 

obligations, or because of any other reason; or in the event of 
your death. In the event of any default, the entire balance on the 
Account becomes due and payable immediately. You also agree 
that, in case of default, you will pay all usual and customary costs 
of collection, including reasonable attorney’s fees, as permitted by 
law.

12. Credit Information: You authorize us to investigate your credit 
standing when opening, renewing, or reviewing your Account, and 
you authorize us to disclose information regarding our experience 
with you under this Agreement to credit bureaus and other 
creditors.

13. Effect of Agreement: This Agreement contains our complete 
contract relating to the Account and applies to every transaction 
relating to the Account even though a sales, balance transfer, or 
cash advance draft you sign or a credit slip may contain different 
terms.

14. Amendment of Agreement: From time to time, we may amend 
this Agreement by giving you written notice of the amendment 
at least 45 days before it goes into effect, unless a shorter notice 
period is permitted by law. The notice will be sent to your last 
known address appearing in our records and will state the date 
upon which the amendment will become effective. Except where 
prohibited by law, all such changes will apply to new transactions 
and to amounts you already owe, unless you provide notice of your 
election to terminate the account and surrender your Card(s) on or 
before the effective date of the changes. Then, you will be entitled 
to repay your balance in accordance with the terms and conditions 
in effect at that time. We may also offer you a repayment method 
that includes: an amortization period of not less than 5 years or a 
required minimum periodic payment that includes a percentage 
of the outstanding balance that is not more than twice the 
percentage required before the effective date of the amendment.

15. Cash Advance by Machine: If automated teller machines or 
other electronic devices are available while this Agreement remains 
in effect that make it possible for you to obtain a cash advance by 
use of your Card in such a machine, we will furnish you with a secret 
personal identification number. Your use of that number, together 
with your Card, in getting a cash advance from such a machine 
is agreed to constitute your signature for purposes of such cash 
advance. Minimum amount of cash advance is $50.00.

16. Record Keeping: You have agreed that we may keep the 
application which bears your signature so that we can comply with 
federal and/or state law relating to loan documents we are required 
to keep in our files.

17. Liability for Unauthorized Use: You may be liable for the 
unauthorized use of your credit card. You will not be liable for 
unauthorized use that occurs after you notify MSUFCU, orally or 
in writing, of the loss, theft, or possible unauthorized use. You will 
have no liability for any unauthorized use of your Card, unless you 
were grossly negligent or fraudulent in handling the Card.

YOUR BILLING RIGHTS:  Keep This Document for 
Future Use

This notice informs you about your rights and 

responsibilities under the Fair Credit Billing Act.

What to Do if You Find a Mistake on Your 
Statement

If you think there is an error on your statement, write to us at:

MSU Federal Credit Union 
C/O Visa Department 
PO Box 1208 
East Lansing, MI 48826-1208

You may also contact us online at msufcu.org 

In your letter, give us the following information:

• Account information: Your name and account number
• Dollar amount: The dollar amount of the suspected error
•  Description of problem: If you think there is an error on your 
bill, describe what you believe is wrong and why you believe it 
is a mistake.

You must contact us:

• Within 60 days of the error appearing on your statement

•  At least three business days before an automated payment is 
scheduled if you want to stop payment on the amount you 
think is wrong

You must notify us of any potential errors in writing by mail or 
electronically. If you call us, we are not required to investigate 
any potential errors and you may be required to pay the amount 
in question.

What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

•  Within 30 days of receiving your letter, we must tell you that 
we received your letter. We will also tell you if we have already 
corrected the error.

•  Within 90 days of receiving your letter, we must either correct 
the error or explain to you why we believe the bill is correct.

While we investigate whether or not there has been an error:

•  We cannot try to collect the amount in question, or report you 
as delinquent on that amount.

•  The charge in question may remain on your statement, and we 
may continue to charge you interest on that amount.

•  You do not have to pay the amount in question, but 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