KENNEBEC SAVINGS BANK 
PLATINUM MASTERCARD AGREEMENT 

In this Agreement, the words you and your mean each and all of those who apply for a Card, sign an application for a Card, or use the 
Card. Card means a MasterCard credit card and any duplicates and renewals that we issue under this Agreement to provide access 
to your Account. Account means the Credit Line with us which is governed by this Agreement. We, us, and ours mean Kennebec 
Savings Bank. 

1.  Responsibility. If we issue you a Card, you agree to pay all debts and the Finance Charge arising from the use of the Card and 
the  Account.  You  are  also  responsible  for  charges  made  by  anyone  else  to  whom  you  give  a  Card,  and  this  responsibility 
continues until the Card is recovered. You cannot disclaim responsibility by notifying us, but we will close the Account for new 
transactions  if  you  so  request  and  return  all  Cards.  Your  obligation  to  pay  the  Account  balance  continues  even  though  an 
agreement, divorce decree, or other court judgment to which we are not a party may direct you or one of the other persons 
responsible to pay the Account. If more than one person has applied for a Card or signed the application, paragraph 16 below 
also applies to your Account. You agree that you will not use or allow anyone else to use your Card or Personal Identification 
Number (“PIN”) or the Account for any transaction that is illegal under applicable federal, state, or local law. 
PROHIBITION AGAINST ENGAGING IN UNLAWFUL INTERNET GAMBLING — UNLAWFUL INTERNET GAMBLING ENFORCEMENT 
ACT NOTICE: Restricted transactions as defined in Federal Reserve Board Regulation GG are prohibited from being processed 
through  this  Account  or  relationship.  Restricted transactions  generally include,  but  are  not  limited  to,  those in  which  credit, 
electronic fund transfers, checks, or drafts are knowingly accepted by gambling businesses in connection with the participation 
by others in illegal or unlawful Internet gambling. 

2.  Lost Card Notification. If you believe your Card has been lost or stolen, you will immediately call us at: (207) 622-5801 during 

business hours or (855) 441-7706 after hours. 

3.  Liability  for  Unauthorized  Use. Unless  you  are a  business entity  or  your  Card  is  used  for  business  purposes,  you will  not  be 
liable  to  us  for  the  unauthorized  use  of  your  Card  if  your  Account  is  in  good  standing;  you  have  used  reasonable  care  in 
protecting your Card from loss or theft; you have promptly reported to us when you know your Card is lost or stolen; and you 
have not reported two or more unauthorized events in the preceding 12 months. In any case, your liability to us will not exceed 
$50.00 for other unauthorized use of your Card that occurs prior to the time when you give notice of possible unauthorized use 
to us at (207) 622-5801 or (855) 441-7706 or in writing at P.O. Box 50, Augusta, Maine 04432; and you will not be liable for 
unauthorized use that occurs after you notify us. If you give the Card to your employee or agent, or allow your employee or 
agent  to  use  a  Card,  or  if  we  issue  a  Card  for  your  Account  to  your  employee  or  agent,  their  use  of  the  Card  is  not 
“unauthorized use.”  The use of the Card by such persons is authorized and you are responsible for all use by such persons, 
even if they are no longer employed by you, until we receive actual notice from you that use by any such person is no longer 
authorized. 

4.  Credit Line. If we approve your application, we will establish a self-replenishing line of credit (“Credit Line”) for you and notify 
you  of  its  amount  when  we  issue  the  Card.  You  agree  not  to  let  the  Account  balance exceed  this  approved  amount of  your 
Credit Line. Each payment you make on the Account will replenish your Credit Line by the amount of the payment which is 
applied to principal. You may request an increase in your Credit Line only by written application to us, which must be approved 
by  a loan  officer. By  giving you  written  notice,  a  loan  officer may reduce your  Credit Line  from  time  to  time,  or with  cause, 
revoke  your  Card  and  terminate  this  Agreement.  Cause  includes  but  is  not  limited  to  your  failure  to  comply  with  this 
Agreement,  or  our  adverse reevaluation  of  your  creditworthiness.  You  may  also  terminate  this  Agreement  at  any  time,  but 
termination by either of us does not affect your obligation to pay the Account balance. The Cards remain our property and you 
must recover and surrender to us all Cards upon our request and upon termination of this Agreement. 

5.  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 your Account to credit bureaus and other creditors who inquire of us 
about your credit standing. 

6.  Details About Your Monthly Payment. 

(a)  Monthly  Statement.  We  will  mail  you  a  statement  every  month  showing  your  previous  balance  of  purchases,  cash 
advances  and  balance  transfers  (if  any),  the current  transactions  on  your  Account,  the remaining credit  available  under 
your Credit Line, the new balance of purchases, balance transfers (if any), and cash advances, the total new balance, the 
Finance Charge due to date, and the required minimum payment. If provided electronically, statements will be available 
via online/internet banking where you may access, review, print and otherwise copy/download your periodic statements 
using procedures that we authorize. 

(b)  Minimum Payment. Every month you must pay at least the minimum payment within 25 days of your statement closing 
date. You may, of course, pay more frequently, pay more than the minimum payment, or pay the total new balance in full, 
and you will reduce the Finance Charge by doing so. The minimum payment will be any unpaid portion of the minimum 
payments shown on prior statements plus either (a) 2% of your total new balance, or $10, whichever is greater, or (b) your 
total new balance if it is less than $10.  Sections 7(c), (d) and (e) below explain how we calculate your total new balance. 

 
 
 
 
 
 
 
7.  Finance  Charges.   The Bank,  in  its  sole  discretion, may change  the monthly  Periodic  Rate  and  Annual  Percentage  Rate  from 
time to time in compliance with any specifically applicable laws and/or regulations. Any change in the Finance Charge will apply 
only to any new purchases, cash advances and balance transfers. 
(a)  When  Finance  Charge Begins.  A  Finance  Charge  will  be  imposed  on  cash  advances  and balance  transfers from  the  date 
made or from the first day of the billing cycle in which the cash advance or balance transfer is posted to your Account, 
whichever is later, and will continue to accrue until the date of payment. A Finance Charge will be imposed on purchases 
only if you elect not to pay the entire new balance of purchases shown on your monthly statement within 25 days from 
the closing date of that statement. If you elect not to pay the entire new balance of purchases shown on your monthly 
statement  within  that  25  day  period,  a  Finance  Charge  will  be  imposed  on  the  unpaid  amount  of  those  purchases 
beginning on the statement closing date and will continue to accrue until the closing date of the billing cycle preceding the 
date on which the entire new balance of purchases is paid in full or until the date of payment if more than 25 days from 
the closing date. 

(b)  Figuring  the  Finance  Charge.  The  FINANCE  CHARGE  is  calculated  at  the  monthly  periodic  rate  of  0.958%,  which  is  an 

ANNUAL PERCENTAGE RATE of 11.5%.   

(c)  Cash Advances. The Finance Charge on cash advances for a billing cycle is computed by applying the monthly periodic rate 
to  the  average  daily  balance  of  cash  advances  of  your  Account,  which  is  determined  by  dividing  the  sum  of  the  daily 
balances  of  cash  advances  made  during  the  billing  cycle  by  the  number  of  days  in  the  cycle.  Each  daily  balance  is 
determined by subtracting from the beginning balance of cash advances of your Account each day any payments received 
or credits posted to your Account.  

(d)  Purchases. The Finance Charge on purchases for a billing cycle is computed by applying the monthly periodic rate to the 
average daily balance of purchases, which is determined by dividing the sum of the daily balances of purchases during the 
billing  cycle by  the number  of  days in  the  cycle. Each  daily  balance  of  purchases  is  determined  by  subtracting from  the 
beginning balance of purchases of your Account each day any payments received and credits posted to your Account. 
(e)  Balance  Transfers.  The  Finance  Charge  on  balance  transfers  for  a  billing  cycle  is  computed  by  applying  the  monthly 
periodic rate to the average daily balance of balance transfers of your Account, which is determined by dividing the sum of 
the  daily  balances  of  balance  transfers  during  the  billing cycle  by  the  number  of  days  in  the  cycle. Each  daily  balance  is 
determined  by  subtracting  from  the  beginning  balance  of  balance  transfers  of  your  Account  each  day  any  payments 
received or credits posted to your Account.  

We add the average daily balances of cash advances, balance transfers and purchases to calculate your total new balance. 

8.  Charges and Fees. The following other charges and fees will be added to your Account, as applicable: 
(a)  Late charge equal to the minimum payment up to $25.00 (over 15 days from the due date) 
(b)  Returned payment fee $5.00 
(c)  Statement copy fee $5.00 
(d)  Card replacement fee $5.00 

9.  Default. You will be in default if you fail to make any minimum payment within 25 days after your monthly statement closing 
date. You will also be in default if your ability to repay is materially reduced by a change in your employment, an increase in 
your obligations, bankruptcy or insolvency proceedings involving you, you die, or you fail to abide by this Agreement. We have 
the  right  to  demand  immediate  payment  of  your  full  Account  balance  if  you  default,  subject  to  our  giving  you  any  notice 
required by law. 

10.  Using the Card. To make a purchase or cash advance, there are two alternative procedures to be followed. One is for you to 
present  the  Card  to  a  participating  MasterCard  plan  merchant,  to  us  or  to  another  financial  institution  and  follow  the 
instructions provided. The other is to complete the transaction by using your PIN in conjunction with the Card in an Automated 
Teller Machine or other type of electronic terminal that provides access to the MasterCard system. Cash advances are limited 
to a total of $2,500 per day.  There are no daily limits on the amount of purchases. Your monthly statement will identify the 
merchant, electronic terminal or financial institution at which transactions were made, but sales, cash advance, credit, or other 
receipts  cannot  be  returned  with  the  statement.  You  must  retain  the  copy  of  such  receipts  furnished  at  the  time  of  the 
transaction in order to verify the monthly statement.  

11.  Returns and Adjustments. Merchants and others who honor the Card may give credit for returns or adjustments, and they will 
do so by sending us a credit which we will post to your Account. If your credits and payments exceed what you owe us, we will 
hold and apply this credit balance against future purchases and cash advances, or if it is $1 or more, refund it upon receipt of 
your written request or automatically after 6 months. 

12.  Foreign Transactions. Purchases and cash advances made in foreign countries and foreign currencies will be billed to you in 
U.S. Dollars.  The exchange rate for transactions in a foreign currency will be a rate selected by MasterCard from the range of 
rates available in wholesale currency markets for the applicable central processing date.   

13.  Plan Merchant Disputes. We are not responsible for the refusal of any merchant or financial institution to honor your Card. 
We are subject to claims and defenses (other than tort claims) arising out of goods or services you purchase with the Card only 

if you have made a good faith attempt but have been unable to obtain satisfaction from the merchant, and (a) your purchase 
was  made in  response  to  an  advertisement  we  sent  or  participated in  sending  to  you;  or (b)  your  purchase cost  more  than 
$50.00 and was made from a merchant in your state or within 100 miles of your home. Any other disputes must be resolved 
directly with the merchant. 

14.  Security Interest. You may be giving a security interest in a specific amount of your Deposit Account(s) with us by signing a 
separate  pledge  agreement.  If  you  give  us  a  security  interest,  you  must  maintain  the  amount  of  the  security  given  in  your 
Deposit Account(s) at all times during which you have the right to use your Card(s). Other than this security interest, we will 
not assert any right we may have if you are in default to prevent withdrawal of funds in your Deposit Account(s) above the 
amount of the security you give. We also waive any other security interest we may have for advances or purchases made under 
this Agreement.  

15.  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 documents you sign or receive may contain different terms. We may amend this Agreement 
from time to time by sending you advance written notice as required by applicable law. Your use of the Card thereafter will 
indicate your agreement to the amendments. To the extent the law permits, and we indicate in our notice, amendments will 
apply to your existing Account balance as well as to future transactions. 

16.  Joint Liability. Each person who signed the application will be individually and jointly responsible for paying all amounts owed 
under this Agreement. This means that we 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  purchases  or  cash  advances  individually.  Any  one  of  you  may 
terminate the Account and the termination will be effective as to all of you. 

17.  Statements. We are required to send you a periodic statement at least 21 days before the payment due date. If you do not 
receive your statement by the last day of the month, please call (207) 622-5801 for a copy of your most recent statement.  

18.  Due Date. Your payment due date will always be on the same date each month. 
19.  Copy Received. You acknowledge receipt of a copy of this Agreement. 

YOUR BILLING RIGHTS: KEEP THIS NOTICE 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:  

Kennebec Savings Bank 
P.O. Box 50 
Augusta, Maine 04432 

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 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  (or  electronically).  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 your statement 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 by the date we told you the payment was due. 

If you receive our explanation but still believe your statement 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 you question even if your 
statement 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 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  $50.00.  (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.) 

2.  You  must  have  used  your  Card  for  the  purchase.  Purchases  made  with  cash  advances  from  an  ATM  or  with  a  check  that 

accesses your 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: 

Kennebec Savings Bank 
P.O. Box 50 
Augusta, Maine  04332 

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.