Choice Rewards Credit Card Agreement and Disclosure

1. INTRODUCTION. This VISA Credit Card Agreement (Agreement) and the Account Disclosures accompanying this Agreement will govern your Choice 
Rewards Credit Card and account issued by Arizona State Credit Union. In this Agreement the words “you,” “your,” “yours,” “applicant,” and “Borrowers” 
mean any person who signs the application for this Account, any joint obligor, guarantor, authorized user, or the person whose name is embossed on the 
Card. The words “we,” “us,” “our,” and “Lender” mean Arizona State Credit Union. The word “Card” means any one or more credit cards issued under the 
Credit Union’s VISA Card program. If you sign or cosign an application for this Account or sign or use any Card or PIN, or allow others to use the Card 
or PIN, you and they will have accepted this Agreement just as if you and they signed it, and you and they, jointly and severally, will be bound by the 
following terms and conditions which will govern this Account.

2. ACCOUNT ACCESS.
a. Purchases, Cash Advances & Balance Transfers. You must sign the Card to use it. Once you have signed the Card, you can use it to buy or lease 
goods or services, wherever the Card is honored, up to the full amount of your credit line. You may use your Account to get cash advances from us. 
You may also use your Card to get a cash advance from participating financial institutions or automated teller machine (ATM). You may use your Card 
to purchase goods and services any place your VISA Card is honored by participating merchants. In addition, you may access your account through 
balance transfers of credit card balances from other financial institutions.  No purchase may exceed the available credit line established for your 
account. The Credit Union reserves the right to refuse any transaction that would draw upon insufficient funds.

b. VISA Convenience Checks.  If available, you may obtain advances under your Account by writing preprinted VISA convenience loan checks that 

we supply to you.  Your use of loan checks will be shown as cash advances on your monthly statement.  We may not honor your loan check if:  your 
check is post-dated; payment of the check would exceed your Credit Limit; a check is signed by person without authorized access; the amount of the 
check is less than the minimum required amount; your Account has been terminated or suspended, or any drafts have been reported lost or stolen.  
You may stop payment on a loan check if you provide us with the exact information describing the check.  If you give us incorrect information, we 
will not be responsible for failing to stop payment.  You understand there may be a charge for each stop payment order requested.  Our liability for 
a wrongful dishonor is limited to your actual charges; however, a dishonor for the reasons stated above is not a wrongful dishonor.  Only the person 
whose name is printed on a convenience check may sign it.  All convenience checks must be written in U.S. dollars.  We will not certify a convenience 
check.  You may write these checks for any amount providing your total outstanding balance does not exceed your available credit limit and your 
credit card remains in good standing.  We are entitled to return it unpaid if there is not enough available credit on your account to pay it, if you are 
in default under this Agreement, if your card or convenience checks have been reported lost or stolen, or if the convenience check is post-dated.  A 
VISA convenience check may not be used to make a payment on your VISA credit card account.  The Credit Union shall have no liability for any 
convenience check returned in excess of your credit line.

3. YOU PROMISE TO PAY. You promise to pay us all such amounts, plus any Interest Charges, which arise from use of the Card or Account by you or 
any other person, and to be jointly and severally liable with such a person, unless such other person does not have actual, implied, or apparent authority 
for such use, and you received no benefit from the use. You promise to pay us either by direct payment or by automatic transfers.

4. CREDIT LINE. This Agreement will constitute a revolving line of credit for an amount which will be the credit line under your Account.  You may 
access your credit line through card purchases, cash advances at participating merchants, loan checks and balance transfers.  We will advise you of the 
amount of your credit line on your statement.  That amount will be the maximum amount you may have outstanding at any one time.  You agree not to 
attempt to obtain more credit than the amount of your credit line. We retain the right to increase or decrease your credit line at any time for any reason.  
Any increase or reduction on the limit of your credit line will be shown on your monthly statement or by separate notice together with any changes in the 
applicable minimum monthly payments.  Your eligibility for this credit line is determined by our loan policy and may be terminated at our sole discretion, 
without demand or notice. You may close your credit line at any time by notifying us in writing.  If you terminate this Agreement or if we terminate or 
suspend your credit privileges, the provisions of this Agreement and your liability hereunder shall otherwise remain in full force and effect until you have 
paid us all sums due us under this Agreement.

5. MINIMUM MONTHLY PAYMENT. You agree that you will pay each month not less than the minimum monthly payment on or before the scheduled 
monthly due date. The minimum monthly payment will be 2.0% of your outstanding balance (“New Balance”) or $25.00, whichever is greater.  If your 
outstanding balance is $25.00 or less, you agree to pay the balance in full. You may pay in full for all your purchases and cash advances each month, 
or you may repay in monthly installments. We can accept late payments or partial payments, or checks, drafts, or money orders marked “payment in 
full” without prejudice to our rights under this Agreement, which are hereby explicitly reserved. A credit posting from a merchant or reversal of fees do 
not constitute a minimum payment. The minimum payment may be allocated at the Credit Union’s discretion to pay off lower rate balances, such as 
promotional offers, before higher rate balances, such as cash advances or purchases.  Payments in excess of the minimum payment will be allocated 
first to higher rate balances, as applicable. From time to time, we may allow you to skip your minimum monthly payment due. If you choose to skip that 
payment, Interest Charges will continue to accrue in accordance with this Agreement.  Payments received at: 2355 W. Pinnacle Peak Rd., Phoenix, AZ 
85027 at or before 5:00 PM Mountain Standard Time on any business day will be credited to your Account as of that date; payments received by mail 
at that address after 5:00 PM Mountain Standard Time, on a weekend or federal holiday will be posted to your Account as of the next business day. 
Payment crediting to your Account may be delayed up to five days if your payment is received by mail at any other address or not accompanied by the 
remittance portion of your Account statement.

6. SECURITY INTEREST. You grant the Credit Union a security interest under the Arizona Uniform Commercial Code in any goods purchased through 
your VISA Credit Card Account.  You agree that all collateral you have given the Credit Union to secure other open-end consumer loan obligations 
(except dwelling secured loans), in the past and in the future, will secure your obligations under this Agreement.  In addition, by signing the Card 

Application, you have given us a security interest in all your shares and deposits, present and future, and all accounts (except Individual Retirement 
Accounts) with the Credit Union you agree, upon default, the Credit Union may apply all that is secured to pay any amounts due under this Agreement, 
without further notice to you.

7. MONTHLY STATEMENTS. Each month we will send you a statement showing purchases, cash advances, payments, and credits made to your 
Account during the billing cycle, as well as your “New Balance,” any Interest Charge and any late charge or other charges.  Your statement also will 
identify the Minimum Monthly Payment you must make for that billing period and the date it is due.  You agree to retain for statement verification copies 
of transaction slips resulting from each purchase, each advance, and other transaction on your Account.  Unless you notify us of a billing error as 
described below, you accept your monthly statement as an accurate statement of your Account with us.

8. CIRCUMSTANCES UNDER WHICH AN INTEREST CHARgE WILL BE IMPOSED. The total outstanding balance of purchases and cash advances 
in the Account on the closing date of a billing cycle, including any Interest Charge will be shown on the Periodic Statement for that billing cycle as the 
“New Balance.”
a. Cash Advances (Interest Charge).  An Interest Charge will be imposed on cash advances and balance transfers from the date each advance is 

made to the date paid.  The Credit Union charges a cash advance fee (Interest Charge) of 3% of the cash advance transaction (minimum $10.00) 
from the date of the transaction until the amount is paid. There is no grace period to avoid a cash advance fee (Interest Charge). There is no cash 
advance fee on balance transfer advances or convenience checks. There is a minimum Finance Charge of $1.00 on unpaid balances.

b. Purchases. An Interest Charge will be imposed on the portion of purchases included in the new balance that remains unpaid 25 days after the 
closing date. This “grace period” allows you to avoid an Interest Charge on purchases for a billing cycle.  However, to the extent you do not pay 
your purchase transactions within the grace period, your Interest Charge will accrue from the date purchases are posted to your account. There is a 
minimum Finance Charge of $1.00 on unpaid balances.

9. METHOD USED TO DETERMINE THE BALANCE ON WHICH THE INTEREST CHARgE MAY BE COMPUTED AND AMOUNT OF INTEREST 
CHARgE. The Credit Union figures the Periodic Interest Charge on your Account by applying the Periodic Rate to the “Average Daily Balance” of new 
and previous unpaid transactions for your Account. To get the “Average Daily Balance” we take the beginning purchase and cash advance balances of 
your Account each day, add any new purchases, cash advances, balance transfer amounts or debit adjustments or charges and subtract any payments 
or credits, unpaid Interest Charges and unpaid late charges.  This gives us the daily balance. Then we add up all the daily balances for the billing cycle 
and divide by the number of days in the billing cycle. This gives us the Average Daily Balance for purchases, cash advances and balance transfers. 

10. PERIODIC RATE AND CORRESPONDINg ANNUAL PERCENTAgE RATE.
a. Variable Rate. During an introductory period, we offer a fixed Annual Percentage Rate for purchases, cash advances and balance transfers.  The 

introductory period is six months for purchases and cash advances and nine months for balance transfers. After the introductory period, your Annual 
Percentage Rate will be variable based on the following terms. The Interest Charge imposed during the billing cycle will be determined by multiplying 
the Average Daily Balance by the Daily Periodic Rate times the number of days in the billing cycle. The Periodic Rate and Annual Percentage Rate 
are variable based on a margin and an index, which is the highest Prime Rate published in the Western Edition of the Money Rates Section of the 
Wall Street Journal. We add a margin to the index to obtain the Annual Percentage Rate. The margin we add may range from 7.74% to 14.75% 
based upon your credit qualifications.  The index is determined the 1st day of the billing cycle immediately following the expiration of the Introductory 
Rate period and subsequently, on the 15th day of the month immediately proceeding the 1st day of each billing cycle, rounded to the nearest .25 
percentage point.  The index plus/minus margin equals the Annual Percentage Rate. The Annual Percentage Rate is divided by 365 to determine 
the Daily Periodic Rate. Changes in the Annual Percentage Rate may affect the amount of the payment and the number of payments you will make.  
The Annual Percentage Rate will never exceed 18.00%. The Annual Percentage Rate and Periodic Rate applicable to your account will be based 
upon your credit qualification and margin assigned to you and will be disclosed on a separate disclosure accompanying your Card or this Agreement 
and shown on each monthly statement.  The “Total Interest Charge” shown on your monthly statement consists of the periodic Interest Charge on 
purchases, the periodic Interest Charge on cash advances and Cash Advance (Interest Charge) fees.

b. Default Rate. The Daily Periodic Rate and Annual Percentage Rate may increase if your minimum payment has not been received within 60 days 

after the due date for such payment, in which case the Annual Percentage Rate for your entire balance will immediately increase to 18.00%. Following 
the default rate increase, if you make your payments on time for six (6) consecutive months, the Annual Percentage Rate based on a default will 
terminate and the prevailing variable Annual Percentage Rate will apply.

11. CONDITIONS UNDER WHICH OTHER CHARgES MAY BE IMPOSED. You agree to pay the following fees and charges on your Account:
a. Late Fee. If we do not receive your minimum payment by the payment due date shown on your statement, you agree to pay a Late Fee of $25.00.
b. Returned Item Charge. If any check or draft we receive from you as payment for any amount you owe to us is returned to us unpaid, you agree to 

pay a returned item fee of $25.00 or the amount of the returned item, whichever is less.

c. ATM Fees. If you use an ATM to obtain a cash advance and the ATM is not operated by us, you may be charged an ATM surcharge by the ATM 
operator or an ATM network utilized for such a transaction.  The ATM surcharge may be charged to your account if you complete the transaction.

d. Attorney’s Fees and Costs. If you default on any part of this Agreement, you agree to pay us all costs to collect your Account, including court 

costs and reasonable attorney fees and collection agency costs whether or not there is a lawsuit, and fees on any appeal and fees for bankruptcy 
proceedings, appeals, and any post judgment collection services, if applicable.

12. CONDITIONS OF CARD USE. The use of your Card and Account are subject to the following conditions:
a. Ownership of Cards. Any Card or other credit instrument or device which we supply to you is our property and must be returned to us, or to any 

person whom we authorize to act as our agent, or to any person who is authorized to honor the Card, immediately according to instructions.  The Card 
may be repossessed at any time at our sole discretion without demand or notice.  You cannot transfer your Card or Account to another person. You 
may not use the Card for any illegal or unlawful transactions and we may decline to authorize any transaction that we believe poses an undue risk of 
illegality or unlawfulness.

b. Honoring the Card. Neither we nor merchants authorized to honor the Card will be responsible for the failure or refusal to honor the Card or any 
other credit instrument or device we supply to you. If a merchant agrees to give you a refund or adjustment, you agree to accept a credit to your 
Account in lieu of a cash refund.

c. Currency Conversion/Foreign Transaction Fee.   Purchases and cash advances made in foreign countries will be billed to you in U.S. dollars. The 
currency conversion rate for international transactions as established by VISA International, Inc. is a rate selected by VISA from the 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 effect for the applicable central processing date.  In addition, you will be charged a Foreign Transaction Fee of 1% of 

the transaction amount for any card transaction made in a foreign country.

d. Notices and Payments. All notices will be sent to your address as shown on your credit union account.  You agree to advise us promptly if you 

change your mailing address.  All payments should be mailed to us at the remittance address shown on your monthly statements.  Payments received 
at that address will be credited to your Account as of the date received.

e. Personal Identification Number. We will issue you a Personal Identification Number (“PIN”) for use with your Card at automatic teller machines 

(“ATMs”).  These numbers are issued to you for your security purposes.  These numbers are confidential and should not be disclosed to third parties.  
You are responsible for safekeeping your PIN.  You agree not to disclose or otherwise make available your PIN to anyone not authorized to sign on 
your Account.  To keep your Account secure, please do not write your PIN on your Card or keep it in the same place as your Card.

13. LOAN PROTECTION. Loan Protection coverage is not required for any extension of credit under this Agreement.  However, you may purchase any 
loan protection available through us and have the premiums added to your outstanding balance.  If you elect to do so, you will be given the necessary 
disclosures and documents separately.

14. DEFAULT. You will be in default under this Agreement if any of the following occur:  (a) Any minimum monthly payment is not made when due; (b) 
You become insolvent, bankrupt, or you die; (c) You violate any part of this Agreement, or any other agreement with us; or (d) if we reasonably deem 
ourselves insecure on your credit line.  We will notify you in writing of any such action as soon as practical if it occurs. Upon default, we may declare 
the entire unpaid balance immediately due and payable, and you agree to pay that amount plus any attorney’s fees and costs including collection 
agency costs incurred by us.  We can delay enforcing any right under this Agreement without losing that right or any other right.  A negative credit report 
reflecting on your credit record may be submitted to a credit-reporting agency if you fail to fulfill the terms of this Agreement.

15. CREDIT INFORMATION / FINANCIAL STATEMENTS. You authorize us to release information to others (e.g., credit bureaus, merchants, and 
other financial institutions) regarding the status and history of your credit line.  You agree to provide us, at any time we deem necessary, with a current 
financial statement and updated credit information upon request.  We may investigate your credit directly or through a credit reporting agency.

16. LOSS OR THEFT OF VISA CREDIT CARD OR CONVENIENCE CHECKS. You agree to notify us immediately of the loss, or the theft, or the 
use without your permission, of any Card or other credit instrument or device which we supply to you.  You may be liable for the unauthorized use 
which occurs after you notify us at: Telephone: (800) 449-7728 or by writing us at P.O. Box 31112, Tampa, FL  33631-3112 orally or in writing of loss, 
theft, or possible unauthorized use. If you notify us of your lost or stolen Credit Card after discovery, you may not be liable for any losses related to 
credit transactions.  This zero liability will apply provided you were not grossly negligent or fraudulent in handling your Card; otherwise your liability for 
unauthorized VISA Credit Card transactions shall not exceed $50.

17. YOUR CREDIT CARD 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: Arizona State Credit Union, P.O. 
Box 31112, Tampa, FL 33631-3112. In your letter, give us the following information:

  • 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.

Account information: Your name and account number.

•   
• Dollar amount: The dollar amount of the suspected error.

You must contact us:

•  Within 60 days after the error appeared on your statement.
•  

At least 3 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. 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.

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 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. (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 dissatisfied with the purchase, contact us in writing at the above address. 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.

18. AMENDMENTS. We reserve the right to amend the terms and conditions of this Agreement as permitted by and subject to any limitations or notice 
requirements of applicable law.

19. gOVERNINg LAW. This Agreement will not take effect until it is approved by us.  This Agreement shall be governed by the laws of the State of 
Arizona.

20. ENTIRE AgREEMENT. You understand and agree to the terms and conditions in this VISA Credit Card Agreement. You acknowledge that you have 
received a copy of the Agreement. This Agreement is a final expression of the agreement between you and the Credit Union.  This Agreement may not 
be contradicted by evidence of any oral agreement or alleged oral agreement and contains the terms applicable to the credit transaction.

Credit Card Pricing Agreement

FEATURING
Choice Rewards

INTEREST RATES AND INTEREST CHARGES

Annual Percentage Rate (APR) for 
Purchases

3.90% for introductory period of 6 months. After that, your APR will be 10.99% - 18.00%, based on your 
creditworthiness and will vary with the market based on the Prime Rate.

APR for  Balance Transfers & Cash 
Advances

Balance Transfer APR: 3.90% introductory period for 9 months. After that, your APR will be 10.99% - 18.00%, based 
on your creditworthiness and will vary with the market based on the Prime Rate. 
Cash Advance APR: 3.90% introductory period for 6 months. After that, your APR will be 10.99% - 18.00%, based 
on your creditworthiness and will vary with the market based on the Prime Rate.

Penalty APR and When it Applies

18.00% - This APR may be applied to your account if:
   .  Your minimum monthly payment is more than 60 days late
   .  You are in default of any other terms of the Agreement
How long will the penalty apply?
If your APR is increased for any of these reasons, the penalty APR will apply until you make six consecutive 
minimum payments when due.

How to Avoid Paying Interest on 
Purchases

Your due date is at least 21 days after the close of each billing cycle. We will not charge any interest on the portion 
of the purchases balance that you pay 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.

Annual Fee

None

FEES

Transaction Fees
Cash Advance Fee 
Minimum Finance Charge

Penalty Fees
Late Payment Fee
Returned Item Fee

Other Fees
Foreign Transaction Fee

Pay by Phone Fee

3% of cash advance transaction (minimum $10.00)
$1.00 on unpaid balances

$25.00

$25.00 or the amount of the returned item, whichever is less.

Up to 1% of the US dollar amount of the foreign transaction

Up to a $10.00 fee

Things You Should Know About This Rewards Program

How We Will Calculate Your Balance: We use a method called “Average 
Daily Balance” (including new purchases). We reserve the right to amend 
the Visa® Credit Card Agreement as permitted by law. The above rates 
and fees are current as of 2/1/2013.

Loss of Introductory APR: We may end your introductory APR and apply 
the penalty APR if you make a payment more than 60 days late.

Billing Rights: Information on your rights to dispute transactions and how 
to exercise those rights is provided in your account agreement.

These	Account	Disclosures	for	the	Choice	Rewards	Credit	Card	are	part	of	

							and	integrated	with	your	Credit	Card	Agreement	and	Disclosure	with	
							Arizona	State	Credit	Union.	

How Are Reward Points Calculated?
Points are calculated on each individual purchase transaction and 
rounded [up or down] to the nearest whole dollar. The individual 
results are then added together and we subtract any returns, credits or 
adjustments to determine the net points earned. Points are calculated 
and credited daily.

How Do I Redeem My Rewards?
There are five ways you can redeem your points:

1)  Travel Redemption
2)  Merchandise Redemption

      3)  Merchant Gift Card Redemption

4)  Cash Redemption 
5)  Donation Redemption 

There is no fee to participate in the AZSTCU rewards program and you 
are automatically enrolled when opening an AZSTCU Choice Rewards 
Credit Card.

All point redemptions are final. Redemptions are subject to point 
availability and other conditions contained in the Choice Rewards Credit 
Card Terms and Conditions disclosure.

Disputes:

1)   All point disputes must be made in writing and sent to:

Arizona State Credit Union
Attn: Card Services
2355 W. Pinnacle Peak Road
Phoenix, AZ 85027

2)   You must contact us within 60 days after the error appeared on 
       your statement. You must notify us in writing.
3)   All decisions by AZSTCU regarding point disputes are final. 

When we receive your letter we must do two things:

1)   Within 30 days of receiving your letter, we must tell you 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 correct the error 

            or explain to you why we believe the statement is correct.

REV. 1/13