CREDIT LINE ACCOUNT
PremierAXmerica
CREDIT U NION
AGREEMENT AND DISCLOSURE
19867 Prairie Street
THIS IS YOUR CREDIT LINE ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY FEDERAL TRUTH-IN-LENDING
Chatsworth, CA 91311
DISCLOSURE STATEMENTS AND ANY SPECIAL INSTRUCTIONS REGARDING THE USE OF YOUR VISA, MASTERCARD,
(800) 772-4000 (818) 772-4000
STUDENT MASTERCARD, SECURED MASTERCARD, PREMIER PRIVILEGES REWARDS MASTERCARD AND PREMIER
FIRST REWARDS MASTERCARD CREDIT CARDS AND OVERDRAFT LINE OF CREDIT AND PREMIER LINE OF CREDIT
PRODUCTS AND ANY OTHER ACCOUNT ACCESS DEVICES. PLEASE READ THIS AGREEMENT CAREFULLY AND NOTIFY
US AT ONCE IF ANY PARTS ARE UNCLEAR.
Borrower Name(s)
Account Number
Credit Limit
Interest Rate and Interest Charges
Annual Percentage Rate
Mastercard:
% introductory APR for
months.
(APR) For Purchases
After that, Your APR will be
%. This APR will vary with the market based on
the Prime Rate.
Student Mastercard:
% introductory APR for
months.
After that, Your APR will be
%. This APR will vary with the market based on
the Prime Rate.
Secured Mastercard:
%
This APR will vary with the market based on the Prime Rate.
Premier Privileges Rewards Mastercard:
% introductory APR for
months.
After that, Your APR will be
%.
Premier First Rewards Mastercard:
% introductory APR for
months.
After that, Your APR will be
%. This APR will vary with the market based on
the Prime Rate.
VISA:
%
Annual Percentage Rate
Mastercard:
% introductory APR for
months.
(APR) For Balance
After that, Your APR will be
%. This APR will vary with the market based on the
Transfers
Prime Rate.
Student Mastercard:
% introductory APR for
months.
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
Secured Mastercard:
%
This APR will vary with the market based on the Prime Rate.
Premier Privileges Rewards Mastercard:
% introductory APR for
months.
After that, Your APR will be
%.
Premier First Rewards Mastercard:
% introductory APR for
months.
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
VISA:
%
SEE PAGES 2 AND 3 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2014-2017. All Rights Reserved.
Page of 7
OTBS 016 FRB_Web PREM (10/17)
Rev. (8/17)
Interest Rate and Interest Charges (continued)
Annual Percentage Rate
Mastercard:
% introductory APR for
months.
(APR) For Cash Advance
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
Student Mastercard:
% introductory APR for
months.
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
Secured Mastercard:
%
This APR will vary with the market based on the Prime Rate.
Premier Privileges Rewards Mastercard:
% introductory APR for
months.
After that, Your APR will be
%.
Premier First Rewards Mastercard:
% introductory APR for
months.
After that, Your APR will be
%. This APR will vary with the market based on the
Prime Rate.
VISA:
%
Overdraft Line of Credit:
%
This APR will vary with the market based on the Prime Rate.
Premier Line of Credit:
%
This APR will vary with the market based on the Prime Rate.
Penalty APR And When
For Overdraft Line of Credit and Premier Line of Credit:
%
it Applies
This APR may be applied if:
1) You make a late payment.
2) You are otherwise in default.
How Long Will The Penalty APR Apply? If Your APR is increased for this reason, the
Penalty APR will be applied indefinitely to Your entire balance existing at that time andin
the future.
Paying Interest
For Credit Cards, 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 all Feature Categories We will begin charging interest on balance transfers and cash
advances on the transaction date.
For Credit Card Tips from
To learn more about factors to consider when applying for or using a Credit Card, visit
the Consumer Financial
the website of the Consumer Financial Protection Bureau at
Protection Bureau
http://www.consumerfinance.gov/learnmore.
Fees
Transaction Fees
Foreign Transaction
For Credit Cards (except Premier Privileges Rewards Mastercard), 1.00% of each transaction
in U.S. dollars.
Cash Advance
For Credit Cards, the greater of 3.00% of each transaction or $3.00.
SEE PAGES 1 AND 3 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2014-2017. All Rights Reserved.
Page 2 of 7
OTBS 016 FRB_Web PREM (10/17)
Rev. (8/17)
Fees (continued)
Penalty Fees
Late Payment
Except Credit Cards, $15.00
For Credit Cards, up to $15.00
Over-the-Credit Limit
Except Credit Cards, $10.00
How We Will Calculate Your Balance: For all Products (except VISA and Mastercard), We use a method called "daily balance."
For VISA and Mastercard, We use a method called "average daily balance (including new purchases)." See Your Account
Agreement for details.
Billing Rights: Information on Your rights to dispute transactions and how to exercise those rights is provided in Your Account
Agreement.
SEE PAGES 1 AND 2 for more important information about Your Account
In
this Agreement, the references to "We," "Us," "Our," and "Credit Union" mean PREMIER AMERICA CREDIT UNION. The words "You" and "Your" mean each person
accepting this Agreement. The words "Card" and "Credit Card" mean any VISA, Mastercard, Student Mastercard, Secured Mastercard, Premier First Rewards Mastercard, or
Premier Privileges Rewards Mastercard Credit Card issued to You by Us and any duplicates or renewals. If this is a joint account, read singular pronouns in the plural.
You, as the borrower, under a Credit Line Account ("Account"), understand that the following Federal Disclosure Statement and the terms and conditions found herein
constitute Our Agreement with You. Your Account may be accessible through a variety of means which could include advance request forms, vouchers, convenience checks,
charge slips, credit cards, telephone access, personal computer access, ATMs or other mechanical/electronic means and the like. Regardless of the access means, You
promise to pay Us all amounts charged or advanced to Your Account by You or by any user who has access to Your Account, with actual, apparent or implied authority for
use of Your Account, including Finance Charges and other fees or charges described herein. You may terminate the use of Your Account by an authorized user by preventing
the use of any Account access device (such as a Credit Card or PIN) by that user and by notifying Us in writing that any such user is no longer authorized to use Your Account.
You understand that all advances are subject to Our prior approval.
PRODUCTS
Your Account has products which may include VISA, Mastercard, Student Mastercard, Secured Mastercard, Premier Privileges Rewards Mastercard, Premier First Rewards
Mastercard, Overdraft Line of Credit, and Premier Line of Credit.
Variable Rate
Daily
Annual
Product
Periodic Rate
Index
Margin
Percentage Rate
%
%
Introductory
Introductory
Product
Daily
Annual
Periodic Rate
Percentage Rate
%
%
Copyright Oak Tree Business Systems, Inc., 2014-2017. All Rights Reserved.
Page 3 of 7
OTBS 016 FRB_Web PREM (10/17)
Rev. (8/17)
TRANSACTIONS/ADVANCES
cycle. To get the average daily balance, We take the beginning balance of Your
Whenever You request a transaction or an advance, We may require You to prove
Account each day, add any new purchases, balance transfers, cash advances,
your identity. If You request an advance by telephone, We will deposit the amount
insurance premiums, debit adjustments and any applicable fees, and subtract any
requested in Your share savings account or Your checking account (or any other
payments, credits and unpaid Finance Charges or Late Fees. Then, We add up all
account as directed by You) and You authorize Us to do this, or We will draw a draft
the daily balances for the billing cycle and divide them by the number of days in the
or check made payable to You and mail it to You. When the amount advanced appears
billing cycle which We multiply by the Daily Periodic Rate. These daily Finance
on a subsequent statement, that will be conclusive evidence of Your telephone
Charges are then added together and the sum is the amount of Your total new
request. Advances for all products (except for Credit Card purchases and except for
Finance Charge due.
Credit Card cash advances made at Premier America Credit Union office locations)
are subject to a minimum of $100.00.
You can avoid Finance Charges on purchases by paying the full amount of the entire
balance owed each month within 25 days of Your statement closing date. Otherwise,
SECURITY
the new balance of purchases, and subsequent purchases from the date they are
As permitted by law, to secure all transactions under this Agreement in either joint or
posted to Your Account, will be subject to a Finance Charge. Balance transfers and
individual Accounts, We have the right to impress and enforce a statutory lien against
cash advances are always subject to a Finance Charge from the date they are posted
Your shares on deposit with Us (other than those deposits established under a
to Your Account.
governmental approved tax deferral plan such as an IRA or Keogh account) and any
dividends due or to become due to You from Us to the extent that You owe on any unpaid
Your Mastercard is subject to a discounted introductory Daily Periodic Rate as set
balance on Your Account and We may enforce Our right to do so without further notice
forth herein for the initial six-month period. Upon the expiration of the introductory
to You. Additionally, You agree that We may set off any mutual indebtedness.
rate period, Your Daily Periodic Rate will increase to the non-introductory Daily
Periodic Rate (corresponding to the non-introductory Annual Percentage Rate) as
OTHER SECURITY/CROSS COLLATERAL
also set forth herein.
Collateral (other than household goods or any dwelling) given as security for any other
loan You may have with Us both now and in the future will, in addition to securing all
Your Student Mastercard is subject to a discounted introductory Daily Periodic Rate
presently existing debts and liabilities You owe to Us, secure all future advances We
as set forth herein for the initial six-month period. Upon the expiration of the
make to You or for Your Account, including advances for reasonable attorneys' fees,
introductory rate period, Your Daily Periodic Rate will increase to the introductory
court costs and/or collection agency fees and costs incurred in the collection of all
Daily Periodic Rate (corresponding to the non-introductory Annual Percentage Rate)
indebtedness. Such Collateral shall include any and all accessions, related insurance
as also set forth herein.
proceeds or insurance premium refunds.
Your Secured Mastercard is subject to a Daily Periodic Rate, corresponding to an
ACCOUNT RESTRICTIONS
Annual Percentage Rate, as set forth herein.
In order to receive and maintain a Share Secured product (such as Secured
Mastercard), You agree to give Us a specific pledge of shares which will be equal to
Your Premier Privileges Rewards Mastercard is subject to a discounted introductory
110% of Your approved Credit Limit. In the event that You default on Your Account,
Daily Periodic Rate as set forth herein for the initial six-month period. Upon the
We may apply these shares toward the repayment of any amount owed on Your Share
expiration of the introductory rate period, Your Daily Periodic Rate will increase to the
Secured product. You may cancel Your Share Secured product at any time by paying
non-introductory Daily Periodic Rate (corresponding to the non-introductory Annual
any amounts owed on Your specific Share Secured product and returning any access
Percentage Rate) as also set forth herein.
devices. To be certain that Your entire balance and all advances on Your Account are
paid, any shares pledged may not be available for 30 days after You have cancelled
Your Premier First Rewards Mastercard is subject to a discounted introductory Daily
any such account product.
Periodic Rate as set forth herein for the initial six-month period. Upon the expiration
of the introductory rate period, Your Daily Periodic Rate will increase to the non-
LINE OF CREDIT LIMIT
introductory Daily Periodic Rate (corresponding to the non-introductory Annual
You will be notified of your specific credit limits which are available under your
Percentage Rate) as also set forth herein.
Account. Unless you are in default, the credit limits established for you will generally
be self-replenishing as you make payments on your Account.
Your VISA is subject to a Daily Periodic Rate, corresponding to an Annual Percentage
Rate, as set forth herein.
You will keep Your unpaid balance within the credit limits set by Us, and You will pay
any amount over the credit limits on Our demand whether or not We authorize the
VARIABLE RATE
advances which caused You to exceed Your credit limits.
(EXCEPT PREMIER PRIVILEGES REWARDS MASTERCARD AND VISA)
Except Premier Privileges Rewards Mastercard and VISA, all advances are subject to a
For Credit Cards, Your available credit will be reduced by pending transactions that
Variable Rate which is based on the Prime Rate as published in the Money Rates
have not yet been posted to Your Account. Such a "hold" on Your available credit might
Section of The Wall Street Journal on the last day of Your previous billing cycle ("Index")
remain in effect until the earlier of the date that the transaction actually posts to Your
plus Our Margin. The Index plus the Margin equals the Interest Rate. Changes in the
Account for a corresponding amount or 10 business days. In the event that a transaction
Index will cause changes in the Interest Rate on the first day of the billing cycle following
posts for an amount that is different than a pending transaction, Your available credit will
any such change in the Index. Increases or decreases in the Interest Rate will cause like
still be reduced by an amount that corresponds to the related pending transaction for up
increases or decreases in the Finance Charge and will affect the number of regularly
to 10 business days.
scheduled payments that You will be required to make. There is no limit on the amount
by which Your Interest Rate can increase.
JOINT ACCOUNTS
Each borrower will be responsible, jointly and severally, for the repayment of any
For Premier First Rewards Mastercard, if You do not incur a late charge during the period
amounts owed. If any Account access device, such as a Personal Identification
beginning on the date your Account is opened and ending on the last day of the month
Number (PIN), is requested and approved, You understand that any such Account
in which the first anniversary of the opening of Your Account occurs, the Margin that is
access device(s) will be mailed only to the primary borrower(s) at the current address
applied to Your Account will be reduced by two percentage points (2.00%) beginning
of record at the Credit Union. We may refuse to follow any instructions which run
with the subsequent billing cycle. For each 12-month period thereafter during which You
counter to this provision.
do not incur a late charge, the Margin applicable to Your Account will be reduced by an
additional two percentage points (2.00%), up to a total reduction in the Margin of eight
FINANCE CHARGES (EXCEPT CREDIT CARDS)
percentage points (8.00%). These annual reductions in the Margin will automatically
The balances subject to the periodic Finance Charge are the daily ending balances
cease: (a) if you incur a late charge; or (b) when you have earned an eight percentage
outstanding for each day during the billing cycle. To get the daily ending balance, We
point (8.00%) reduction in the Margin; whichever occurs first. In the event you make a
take the beginning balance of Your account each day, add any new advances,
late payment and are no longer eligible to earn further reductions in the Margin, any
insurance premiums, debit adjustments and any applicable fees, and subtract any
reduction in the Margin you may have previously earned will continue to apply to Your
payments, credits and unpaid Finance Charges and late fees. The Finance Charge is
entire balance outstanding at that time and in the future.
computed by multiplying the Daily Periodic Rate by the daily ending balance
outstanding for each day of the billing cycle. The daily Finance Charges are added
VARIABLE RATE (EXCEPT CREDIT CARDS)
together and the sum is the amount of Your total new Finance Charge due. There is
Your Account is subject to a Variable Rate which is based on the Prime Rate as
no grace period.
published in the Money Rates Section of The Wall Street Journal on the last day of
Your previous billing cycle ("Index") plus Our Margin. The Index plus the Margin
CREDIT CARD FINANCE CHARGES
equals the Interest Rate. Changes in the Index will cause changes in the Interest
The balances subject to the periodic Finance Charge are the average daily balances
Rate on the first day of the billing cycle following any such change in the Index.
outstanding during the billing cycle. The Finance Charge for a billing cycle is computed
Increases or decreases in the Interest Rate will cause like increases or decreases
by applying the Daily Periodic Rate to the average daily balance during the billing
in the Finance Charge and will affect the number of regularly scheduled payments
Copyright Oak Tree Business Systems, Inc., 2014-2017. All Rights Reserved.
Page 4 of 7
OTBS 016 PREM (10/17)
Rev. (8/17)
that You will be required to make. There is no limit on the amount by which Your
or
garnishment should be issued against any of Your property or rights, specifically
Interest Rate can increase.
including anyone starting an action or proceeding to seize any of Your funds on deposit
with Us; and/or (f) We should, in good faith, believe Your ability to repay Your
LATE CHARGE (EXCEPT CREDIT CARDS)
indebtedness hereunder is or soon will be impaired.
If Your payment is 15 or more days past due, You will be charged $15.00.
If
You are in default, We may, without prior notice or demand and to the extent
CREDIT CARD LATE CHARGE
permitted by law, cancel Your rights under this Agreement, declare the entire
If Your payment is 15 or more days past due, You will be charged the lesser of: (a)
unpaid balance of Your Account immediately due and payable, set-off any money
the amount of the minimum payment due; or (b) $15.00.
owed Us in accordance with the terms of said Agreement and require the return of
all access devices.
OTHER FEES AND CHARGES
You will be charged the following fees and charges associated with the use of Your
If immediate payment is demanded, You will continue to pay Finance Charges at the
Account: (a) for Credit Cards, the greater of 3.00% of the transaction or $3.00 for each
applicable Annual Percentage Rate in effect until what You owe has been repaid.
cash advance obtained; (b) for Credit Cards, to the extent permitted by applicable law,
Even if Your unpaid balance is less than Your Credit Limit(s), You will have no credit
the greater of $250.00 or actual costs incurred by the Credit Union when You elect to
available during any time that any aspect of Your Account is in default.
withdraw a charge back and initiate arbitration proceedings; (c) for Credit Cards,
$12.00 for each draft copy that You request; and (d) except for Credit Cards, $10.00
PENALTY APR (EXCEPT CREDIT CARDS)
whenever You exceed Your Credit Limit by: (i) $500.00; or (ii) an amount that causes
For all products (except Credit Cards), if You are ever 30 or more days past due on
Your balance to exceed 120 percent of Your Credit Limit; whichever is less.
any payment and/or Your Account is otherwise in default, the Margin applicable to
Your entire balance existing at that time and in the future will increase by 10.00%.
MONTHLY PAYMENT SCHEDULE
The increase in the Margin will result in an increase in the Daily Periodic Rate by
Though You need only pay the Current Payment due shown on Your monthly
0.027397% (corresponding to an increase in the ANNUAL PERCENTAGE RATE
statement, You understand that You have the right to repay Your Account or make
of 10.00%).
larger payments on Your Account at any time without penalty. You also understand
that You will be charged periodic Finance Charges to the date You repay Your entire
ENFORCEMENT
Account balance. Any partial payment or prepayment of Your Account will not delay
We do not lose our rights under this or any related agreement if We delay enforcing
Your next scheduled payment. All payments to Us must be in lawful money of the
them. We can accept late payments, partial payments or any other payments, even if
United States. Payments will be applied first to collection costs, then to any Finance
they are marked "paid in full" or contain language indicating full satisfaction of the
Charges due, then to any Fees and Charges owing, then to the outstanding principal
unpaid balance without losing any of Our rights under this Agreement. Any
balance. Any unpaid portion of the Finance Charge will be reduced by subsequent
compromise in, or the reduction of, amounts owed under this Agreement must be
payments and will not be added to the principal balance. You understand that any
previously agreed to in writing by an authorized employee of the Credit Union. If any
delay in the repayment of Your unpaid balance will increase Your periodic Finance
provision of this or any related agreement is determined to be unenforceable or
Charges and any acceleration in the repayment of Your unpaid balance will decrease
invalid, all other provisions remain in full force and effect.
Your periodic Finance Charges.
COLLECTION COSTS
Your payment is due on the payment due date as disclosed on Your monthly
If You are in default, to the extent permitted by law, You will reimburse us for all costs
statement. You may elect to make your payment by automatic transfer from a
of collecting the amount You owe under this Agreement including reasonable
designated account. If You select this option, You understand and agree that You
attorneys fees. You agree that We may add any collection costs, including reasonable
must maintain sufficient funds on deposit to permit Us to transfer the payment on the
attorneys' fees, to Your Account balance on which Finance Charges will be charged,
payment due date.
subject to the applicable Annual Percentage Rate.
For all products (except Credit Cards), Your payment will be 2.00% of Your new
DEBT CANCELLATION COVERAGE
unpaid balance at the end of each billing cycle plus any portion of the payments shown
Debt cancellation coverage ("Loan Protection Plan") is not required for any
on prior statement(s) which remains unpaid, plus any amount that exceeds Your
extension of credit under this Agreement. However, You may purchase any Loan
approved credit limit. Your current payment in any event will be subject to the lesser
Protection Plan available through Us and have the fees added to Your outstanding
of $20.00 or Your balance.
Account balance. If You elect to do so, You will be given the necessary disclosures
and documents separately.
Credit Card payments will be 3.00% of Your new unpaid balance at the end of each
billing cycle plus any portion of any payments shown on prior statement(s) which
INTEGRATED DOCUMENTS
remains unpaid, plus any amount that exceeds Your approved credit limit. Your
Any separate sheet of paper labeled "Additional Disclosure Federal Truth-In-Lending
payment in any event will be subject to the lesser of $15.00 or Your balance.
Act," "Truth-In-Savings Disclosure and Agreement" or "Schedule of Fees" which is
delivered together with this Agreement or separately becomes an integrated part of
OVERDRAFT PROTECTION
this Agreement and Disclosure.
You agree that We may transfer funds in multiples of $100.00 (or in such increments as
We may from time to time determine) to Your checking account by an advance on the
NOTIFICATION OF ADDRESS CHANGE
account product designated on Your Overdraft Protection Application/Sign-Up Card to
You will notify Us promptly in writing if You: (a) move or otherwise have a change of
clear any overdraft on Your checking account. In any event, You hold Us harmless for
address; or (b) change Your name.
any and all liability which might otherwise arise if the transfer does not occur. Your
checking account overdraft protection automatically ceases if this Agreement is
CHANGE IN TERMS
cancelled or terminated or Your Account is in default.
We may change the terms of this Agreement by mailing or delivering to You written
notice of the changes as prescribed by the Federal Truth-In-Lending Act. To the extent
PERIODIC STATEMENTS
permitted by law, the right to change the terms of this Agreement includes, but is not
On a regular basis, You will receive a statement showing all transactions on Your
limited to, the right to change the periodic rate applicable to Your unpaid balance
Account including amounts paid and borrowed since Your last statement. We will mail
and/or future advances.
You a statement each month in which there have been any transactions on Your
Account or there is a debit or credit balance. We need not send You a statement if
UPDATING AND DISCLOSING FINANCIAL INFORMATION
We feel Your Account is uncollectible but such action by Us does not relieve You of
You will provide facts to update information contained in Your original application or
Your liability to repay any amounts that You owe Us. Each statement is deemed to be
other financial information related to You, at our request. You also agree that We may,
a correct statement of account unless You notify Us of a billing error pursuant to the
from time to time, as We deem necessary, make inquiries pertaining to Your
Federal Truth-In-Lending Act.
employment, credit standing and financial responsibility in accordance with applicable
laws and regulations. You further agree that We may give information about the status
DEFAULT/CROSS DEFAULT
and payment history of Your Account to consumer credit reporting agencies, a
You will be in default if: (a) You do not make any payment or perform any obligation
prospective employer or insurer, or a state or federal agency having any apparent
required under any other agreement that You may have with Us, including but not limited
legitimate business need for such information.
to loan agreements, credit line agreements, debt instruments and the like; or (b) You do
not make any payment or perform any obligation required under this Agreement; or (c)
You agree to provide Us, upon Our request, with a current financial statement or
You should die, become involved in any insolvency, receivership or custodial proceeding
other current credit information that meets Our requirements. You understand and
brought by or against You; or (d) You have made a false or misleading statement in
agree that if We request such information, that We may, at Our sole option, refuse
Your credit application and/or in Your representations to us while You owe money on
to make further advances on Your Account until such time as We have received the
Your Account; or (e) A judgment or tax lien should be filed against You or any attachment
requested information. If You fail to furnish the requested information in a timely
Copyright Oak Tree Business Systems, Inc., 2014-2017. All Rights Reserved.
Page 5 of 7
OTBS 016 PREM (10/17)
Rev. (8/17)
fashion We may, at Our option, and without further notice to You, declare Your
CONSENT TO AGREEMENT
Account to be in default.
You agree to and accept the terms of this Agreement and Disclosure by signing the
application for Your Account; by signing this Agreement and Disclosure; by using Your
TERMINATION
Account; by using any Account access device; or by using or authorizing another to
Either You or We may cancel Your Account at any time, whether or not You are in
use Your Account.
default. In the event We receive a written request for Account termination from You or
any party to Your Account, or if We receive inconsistent instructions regarding Account
SPECIFIC TERMS APPLICABLE TO YOUR MASTERCARD,
termination from different parties to Your Account, We may, at Our sole option and
STUDENT MASTERCARD, SECURED MASTERCARD, PREMIER
without further notice to any other party, terminate Your Account or refuse any right with
PRIVILEGES REWARDS MASTERCARD, PREMIER FIRST
respect to Your Account, which may include, but is not limited to, refusing any request
REWARDS MASTERCARD AND VISA CREDIT CARDS
for credit or an advance on Your Account. You will, in any case, remain liable to pay any
unpaid balances according to the terms of Your Account.
USE OF YOUR CARD
You may use Your Card to buy goods and services in any place that the Card is honored
ARBITRATION (EXCEPT FOR CREDIT COVERED UNDER THE MLA)
and to get cash advances from participating ATMs. You agree not to use Your Card for
This provision does not apply to covered-loans extended to covered borrowers as
illegal transactions including, but not limited to, advances made for the purpose of
defined within the Military Lending Act (MLA). If We determine You have met these
gambling and/or wagering where such practices are in violation of applicable state and/or
definitions, then We will provide a notice titled "Military Annual Percentage Rate
federal law. Additionally, You agree not to utilize Your Credit Card accounts for the
(MAPR) And Payment Obligation Disclosure," in which case the following paragraph
purchase of any goods or services on the Internet that involve gambling of any sort. Such
will not apply to You.
transactions include, but may not be limited to, any quasi-cash or online gambling
transaction, any electronic commerce transaction conducted over an open network, and
If We have determined that You did not meet the above referenced definitions, then
any betting transaction including the purchase of lottery tickets or casino gaming chips
said notice will not be furnished, and any controversy or claim arising out of or
or off-track betting or wagering. However, in the event that a charge or transaction
relating to any product contained in this Credit Line Account Agreement And
described in this paragraph is approved and processed, You will still be responsible for
Disclosure, or the breach thereof, shall be settled by arbitration administered by the
such charges.
American Arbitration Association in accordance with its Arbitration Rules, and
judgment on the award rendered by the arbitrator(s) may be entered in any court
OWNERSHIP
having jurisdiction thereof. All parties hereby waive and give up all rights to a jury
All Account access devices remain Our property and may be cancelled by Us at any
trial or class action relief.
time without notice. You agree to surrender such Account access devices and
to
discontinue their use immediately upon Our request.
GOVERNING LAW
This Agreement is controlled and governed by the laws of the State of California
CONSENSUAL LIEN
except to the extent that such laws are inconsistent with controlling federal law.
If You have been issued a Credit Card, You grant and consent to a lien on
ELECTRONIC COMMUNICATIONS
Your savings, checking and certificate accounts with Us (except for IRA
accounts) and any dividends due or to become due to You from Us to the
You authorize Us to send You, from time to time, and to the extent permitted by
applicable law, electronic communications regarding the status of any share, share
extent You owe on Your unpaid Credit Card balance.
draft, and/or certificate account(s) You maintain with Us. You also authorize Us to send
You electronic communications regarding any other accounts You may maintain with
ISSUANCE OF PERSONAL IDENTIFICATION NUMBER
Us from time to time including, but not limited to, loan accounts, credit line accounts,
We will issue you a Personal Identification Number (PIN) for use with Your Card in
and credit card accounts. These electronic communications are sometimes referred
conjunction with participating Automated Teller Machines (ATMs) and/or any other
to as "transactional or relationship messages."
participating programs. This PIN is confidential and should not be disclosed to anyone.
You may use Your PIN to access Your Account and all sums advanced will be added
You authorize Us to contact You using any wireless, cellular, mobile or other telephone
to Your Account balance. In the event a use of Your PIN constitutes an Electronic
number You have provided to Us on Your membership application, and at any
Fund Transfer, the terms and conditions of Your Electronic Fund Transfer Agreement
wireless, cellular, mobile or other telephone number You may furnish to Us or We
may also affect Your rights. Your use of the PIN is Your authorization to Us to charge
obtain for You in the future. To the extent permitted by law, We may contact You using
Your Account to cover such transactions.
any electronic means We choose, which may include but is not limited to, voice
messages, text messages and other similar electronic methods of communication. If
PREMIER PRIVILEGES REWARDS MASTERCARD
you have furnished Us with any e-mail address(es), you understand and agree that
AND PREMIER FIRST REWARDS MASTERCARD MILEAGE PROGRAM
We may send You e-mail messages regarding Your Account(s) with Us from time to
Premier Privileges Rewards Mastercard and Premier First Rewards Mastercard
time. If you have executed or subsequently execute any separate Disclosure and
Accounts in good standing will earn Premier Privileges Rewards Points based on
Consent to Receive Electronic Documentation or similar form, any communications
signature based purchases made on your Account. The details of the Premier
covered by such Disclosure and Consent shall be subject to the terms and conditions
Privileges Platinum Awards feature of Your Premier Privileges Rewards
set forth in that document.
Mastercard and Premier First Rewards Mastercard Account will be disclosed to
You separately.
You understand that the nature of electronic communications is such that anyone
with access to Your wireless, cellular, mobile or other telephonic device or e-mail
REFUSAL TO HONOR CONVENIENCE CHECKS OR CREDIT CARDS
may be able to read or listen to such transactional or relationship messages from
We are not liable for the refusal or inability of merchants, financial institutions or others
Us, and You agree that any person or party sending or leaving such messages shall
to accept convenience checks or Credit Cards, or electronic terminals to honor
have no liability for any consequences resulting from the interception of such
convenience checks or Credit Cards or complete a Card withdrawal, or for their
messages by any other party. Without limitation, You also agree that You are
retention of convenience checks or Credit Cards.
responsible to pay all costs that You may incur as a result of any contact method
We choose including, but not limited to, charges for telecommunications, wireless
OUR RESPONSIBILITY TO HONOR CONVENIENCE CHECKS
and/or internet charges.
We may not accept any convenience check if: (1) by paying a convenience check
Your Account balance would exceed Your credit limit; (2) Your convenience check or
CONSENT TO CONTACT AGREEMENT
payment check is postdated; (3) Your Cards or convenience checks have been
You agree that We may, subject to applicable law, initiate telephone calls to any
reported lost or stolen; (4) Your Account has been cancelled or has expired.
residential line (wireline service), cellular telephone service, or other wireless service
associated with Your Account through use of pre-recorded or artificial voice
If a postdated convenience check is paid and as a result any other convenience check
messages and/or the use of automatic telephone dialing systems, in order for Us to
is returned or not paid, We are not responsible. Any convenience check that is
service Your Account, prevent fraud, collect any amounts owed to Us by You, and
returned by Us unpaid will be subject to a returned check fee.
otherwise conduct Our business with You. If You furnish Us with one or more cellular
telephone numbers in connection with Your Account, You represent You are or will
FOREIGN TRANSACTIONS
be the cellular telephone subscriber with respect to each such number, and that
(EXCEPT PREMIER PRIVILEGES REWARDS MASTERCARD)
Your consent extends to all such numbers You provide to Us. You understand that
For transactions initiated in foreign countries and foreign currencies, the exchange
the telephone calls We may initiate may result in charges to You by any cellular
rate between the transaction currency and the billing currency (U.S. dollars) will be:
telephone, internet, or other digital or electronic service to which You subscribe, and
(a) a rate selected by VISA and/or Mastercard, as is applicable, from the range of
You understand and agree that You are solely responsible for the payment of any
rates available in wholesale currency markets for the applicable central processing
such charges.
date, which rate may vary from the rate VISA or Mastercard, as is applicable, itself
receives; or (b) the government-mandated rate in effect for the applicable central
Copyright Oak Tree Business Systems, Inc., 2014-2017. All Rights Reserved.
Page 6 of 7
OTBS 016 PREM (10/17)
Rev. (8/17)
processing date. In each instance, You will be charged a fee in an amount equal to
What Will Happen After We Receive Your Letter
1.00% of the settlement amount.
When We receive Your letter, We must do two things:
TRANSACTION SLIPS
Your monthly statement will identify the merchant, electronic terminal or financial
1)
Within 30 days of receiving Your letter, We must tell You that We received
institution at which transactions were made, but sales, cash advance, credit or other
Your letter. We will also tell You if We have already corrected the error.
slips are not returned with the statement.
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.
LOST OR STOLEN CREDIT CARDS OR CONVENIENCE CHECKS
To report a lost or stolen Card, immediately call (800) 811-2917. To report lost or
While We investigate whether or not there has been an error:
stolen convenience checks, contact a Premier America Credit Union information
specialist by calling (800) 772-4000 or (818) 772-4000.
We cannot try to collect the amount in question, or report You as delinquent on
that amount.
UNAUTHORIZED USE
The charge in question may remain on Your statement, and We may continue
You may be liable for the unauthorized use of Your Card. You will not be liable for the
to charge You interest on that amount.
unauthorized use that occurs after You notify Us orally or in writing at the address or
While You do not have to pay the amount in question, You are responsible
telephone number shown in this Agreement, of the loss, theft, or possible
for the remainder of Your balance.
unauthorized use. In any case, Your liability will not exceed $50.00.
We can apply any unpaid amount against Your Credit Limit.
CREDITS
After We finish Our investigation, one of two things will happen:
If a merchant who honors Your Card gives You credit for returns or adjustments,
they will do so by generating a credit which will be posted to Your Account. If
If We made a mistake: You will not have to pay the amount in question or
Your credits and payments exceed what You owe Us, We will hold and apply this
any interest or other fees related to that amount.
credit against future purchases and cash advances or, if it is $1.00 or more,
If We do not believe there was a mistake: You will have to pay the amount in
refund it on Your written request or automatically deposit it to Your savings
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
account after six months.
delinquent if You do not pay the amount We think You owe.
EFFECT OF AGREEMENT
If You receive Our explanation but still believe Your bill is wrong, You must write to Us
Even though the sales, cash advance, credit or other slips You may sign or receive
within 10 days telling Us that You still refuse to pay. If You do so, We cannot report
when using the Card contain terms, this Agreement is the contract which solely
You as delinquent without also reporting that You are questioning Your bill. We must
applies to all transactions involving the Card.
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
Your Billing Rights: Keep this Document for Future Use
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 bill is correct.
This notice tells You about Your rights and Our responsibilities under the Fair
Credit Billing Act.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
What To Do If You Find A Mistake On Your Statement
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,
If You think there is an error on Your statement, for VISA and Mastercard write to
You may have the right not to pay the remaining amount due on the purchase. To use
Us at Card Services, P.O. Box 10409, Des Moines, IA 50306. For all other Products,
this right, all of the following must be true:
write to Us at Our address shown in this Agreement. In Your letter, give us the
following information:
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
Account information: Your name and Account number.
$50.00. (Note: Neither of these are necessary if Your purchase was based on an
Dollar amount: The dollar amount of the suspected error.
advertisement We mailed to You, or if We own the company that sold You the
Description of problem: If You think there is an error on Your bill, describe
goods or services.)
what You believe is wrong and why You believe it is a mistake.
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
You must contact Us:
account do not qualify.
3)
You must not yet have fully paid for the purchase.
Within 60 days after the error appeared on Your statement.
At least three business days before an automated payment is scheduled,
If all of the criteria above are met and You are still dissatisfied with the purchase,
if You want to stop payment on the amount You think is wrong.
contact Us in writing at Card Services, P.O. Box 10409, Des Moines, IA 50306.
You must notify Us of any potential errors in writing. You may call Us, but if You do
While We investigate, the same rules apply to the disputed amount as discussed above.
We are not required to investigate any potential errors and You may have to pay the
After We finish Our investigation, We will tell You Our decision. At that point, if We think
amount in question.
You owe an amount and You do not pay, We may report You as delinquent.
Copyright Oak Tree Business Systems, Inc., 2014-2017. All Rights Reserved.
Page 7 of 7
OTBS 016 FRB_Web PREM (10/17)
Rev. (8/17)
Premiermerica
PRICING INFORMATION ADDENDUM
CREDIT
UNION
CREDIT LINE ACCOUNT
19867 Prairie Street
Chatsworth, CA 91311
AGREEMENT AND DISCLOSURE
(800) 772-4000 (818) 772-4000
THIS IS YOUR ADDENDUM THAT CONTAINS PRICING INFORMATION FOR YOUR VISA, MASTERCARD, STUDENT
MASTERCARD, SECURED MASTERCARD, PREMIER PRIVILEGES REWARDS MASTERCARD, AND PREMIER
FIRST REWARDS MASTERCARD CREDIT CARDS. PLEASE BE CERTAIN TO READ THIS ADDENDUM CAREFULLY
AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.
Interest Rate and Interest Charges
Annual Percentage
Mastercard:
0.00%
introductory APR for 6 months.
Rate (APR) For
After that, Your APR will be
10.15% - 17.15%
based on Your creditworthiness and
Purchases
will vary with the market based on the Prime Rate.
Student Mastercard:
0.00%
introductory APR for 6 months.
After that, Your APR will be
11.00% and will vary with the market based on the Prime Rate.
Secured Mastercard:
12.15% - 19.15%
based on Your creditworthiness.
This APR will vary with the market based on the Prime Rate.
Premier Privileges Rewards Mastercard:
0.00%
introductory APR for 6 months.
After that, Your APR will be
7.95% - 17.45%
based on Your creditworthiness.
Premier First Rewards Mastercard:
0.00%
introductory APR for 6 months.
After that, Your APR will be
19.00%
and will vary with the market based on the Prime Rate.
VISA:
15.40%
Annual Percentage
Mastercard: 0.00% introductory APR for 6 months.
Rate (APR) For
After that, Your APR will be 10.15% - 17.15% based on Your creditworthiness and will vary
Balance Transfers
with the market based on the Prime Rate.
Student Mastercard: 0.00% introductory APR for 6 months.
After that, Your APR will be 11.00% and will vary with the market based on the Prime Rate.
Secured Mastercard: 12.15% - 19.15% based on Your creditworthiness.
This APR will vary with the market based on the Prime Rate.
Premier Privileges Rewards Mastercard: 0.00% introductory APR for 6 months.
After that, Your APR will be 7.95% - 17.45% based on Your creditworthiness.
Premier First Rewards Mastercard: 0.00% introductory APR for 6 months.
After that, Your APR will be 19.00% and will vary with the market based on the Prime Rate.
VISA: 15.40%
Annual Percentage
Mastercard: 0.00% introductory APR for 6 months.
Rate (APR) For Cash
After that, Your APR will be 10.15% - 17.15% based on Your creditworthiness and will vary
Advance
with the market based on the Prime Rate.
Student Mastercard: 0.00% introductory APR for 6 months.
After that, Your APR will be 11.00% and will vary with the market based on the Prime Rate.
Secured Mastercard: 12.15% - 19.15% based on Your creditworthiness.
This APR will vary with the market based on the Prime Rate.
SEE PAGE 2 for more important information about Your Account
Copyright Oak Tree Business Systems, Inc., 2014-2018. All Rights Reserved.
Page 1 of 3
OTBS 016A FRB_Web PREM (1/18)
Rev. (1/18)
Interest Rate and Interest Charges (continued)
Annual Percentage
Premier Privileges Rewards Mastercard: 0.00% introductory APR for 6 months.
Rate (APR) For Cash
After that, Your APR will be 7.95% - 17.45% based on Your creditworthiness.
Advance (continued)
Premier First Rewards Mastercard: 0.00% introductory APR for 6 months.
After that, Your APR will be 19.00% and will vary with the market based on the Prime Rate.
VISA: 15.40%
Paying Interest
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 all Feature
Categories We will begin charging interest on balance transfers and cash advances on the
transaction date.
Fees
Transaction Fees
Foreign Transaction
Except Premier Privileges Rewards Mastercard, 1.00% of each transaction in U.S. dollars.
Cash Advance
The greater of 3.00% of each transaction or $3.00.
Penalty Fees
Late Payment
Up to $15.00
How We Will Calculate Your Balance: We use a method called "average daily balance (including new purchases)." See Your
Account Agreement for details.
Billing Rights: Information on Your rights to dispute transactions and how to exercise those rights is provided in Your Account
Agreement.
SEE PAGE 1 for more important information about Your Account
CREDIT CARD FINANCE CHARGES
The balances subject to the periodic Finance Charge are the average daily balances outstanding during the billing cycle. The Finance Charge for a billing cycle is computed by
applying the Daily Periodic Rate to the average daily balance during the billing cycle. To get the average daily balance, We take the beginning balance of Your Account each
day, add any new purchases, balance transfers, cash advances, insurance premiums, debit adjustments and any applicable fees, and subtract any payments, credits and
unpaid Finance Charges or Late Fees. Then, We add up all the daily balances for the billing cycle and divide them by the number of days in the billing cycle which We multiply
by the Daily Periodic Rate. These daily Finance Charges are then added together and the sum is the amount of Your total new Finance Charge due.
You can avoid Finance Charges on purchases by paying the full amount of the entire balance owed each month within 25 days of Your statement closing date. Otherwise, the
new balance of purchases, and subsequent purchases from the date they are posted to Your Account, will be subject to a Finance Charge. Balance transfers and cash advances
are always subject to a Finance Charge from the later of the date they are posted to Your Account or from the first day of the billing cycle in which the transaction is posted to
Your Account.
Your Mastercard is subject to a discounted introductory Daily Periodic Rate of 0.000000% (corresponding to an ANNUAL PERCENTAGE RATE of 0.00%) for the initial six-
month period. Upon the expiration of the introductory rate period, Your Daily Periodic Rate will increase to 0.027808% - 0.046986% (corresponding to an ANNUAL
PERCENTAGE RATE of 10.15% - 17.15%), depending on Your creditworthiness.
Your Student Mastercard is subject to a discounted introductory Daily Periodic Rate of 0.000000% (corresponding to an ANNUAL PERCENTAGE RATE of 0.00%) for the
initial six-month period. Upon the expiration of the introductory rate period, Your Daily Periodic Rate will increase to 0.030137% (corresponding to an ANNUAL PERCENTAGE
RATE of 11.00%).
Your Daily Periodic Rate for Secured Mastercard is 0.033288% - 0.052466% (corresponding to an ANNUAL PERCENTAGE RATE of 12.15% - 19.15%), depending on Your
creditworthiness.
Copyright Oak Tree Business Systems, Inc., 2014-2018. All Rights Reserved.
Page 2 of 3
OTBS 016A FRB_Web PREM (1/18)
Rev. (1/18)
Your Premier Privileges Rewards Mastercard is subject to a discounted introductory Daily Periodic Rate of 0.000000% (corresponding to an ANNUAL PERCENTAGE RATE
of 0.00%) for the initial six-month period. Upon the expiration of the introductory rate period, Your Daily Periodic Rate will increase to 0.021781% - 0.047809% (corresponding
to an ANNUAL PERCENTAGE RATE of 7.95% - 17.45%), depending on Your creditworthiness.
Your Premier First Rewards Mastercard is subject to a discounted introductory Daily Periodic Rate of 0.000000% (corresponding to an ANNUAL PERCENTAGE RATE of
0.00%) for the initial six-month period. Upon the expiration of the introductory rate period, Your Daily Periodic Rate will increase to 0.052055% (corresponding to an ANNUAL
PERCENTAGE RATE of 19.00%).
Your Daily Periodic Rate for VISA is 0.042192% (corresponding to an ANNUAL PERCENTAGE RATE of 15.40%).
VARIABLE RATE (EXCEPT PREMIER PRIVILEGES REWARDS MASTERCARD AND VISA)
Except Premier Privileges Rewards Mastercard and VISA, all advances are subject to a Variable Rate which is based on the Prime Rate as published in the Money Rates
Section of The Wall Street Journal on the last day of Your previous billing cycle ("Index") plus Our Margin. The Index plus the Margin equals the Interest Rate. Changes in the
Index will cause changes in the Interest Rate on the first day of the billing cycle following any such change in the Index. Increases or decreases in the Interest Rate will cause
like increases or decreases in the Finance Charge and will affect the number of regularly scheduled payments that You will be required to make. There is no limit on the amount
by which Your Interest Rate can increase.
For Premier First Rewards Mastercard, if You do not incur a late charge during the period beginning on the date your Account is opened and ending on the last day of the
month in which the first anniversary of the opening of Your Account occurs, the Margin that is applied to Your Account will be reduced by two percentage points (2.00%)
beginning with the subsequent billing cycle. For each 12-month period thereafter during which You do not incur a late charge, the Margin applicable to Your Account will be
reduced by an additional two percentage points (2.00%), up to a total reduction in the Margin of eight percentage points (8.00%). These annual reductions in the Margin will
automatically cease: (a) if you incur a late charge; or (b) when you have earned an eight percentage point (8.00%) reduction in the Margin; whichever occurs first. In the event
you make a late payment and are no longer eligible to earn further reductions in the Margin, any reduction in the Margin you may have previously earned will continue to apply
to Your entire balance outstanding at that time and in the future.
The Margin for Mastercard will range from 6.90 - 13.90 depending on Your creditworthiness.
The Margin for Student Mastercard is 7.75.
The Margin for Secured Mastercard will range from 8.90 - 15.90 depending on Your creditworthiness.
The Margin for Premier First Rewards Mastercard will be 15.75.
Copyright Oak Tree Business Systems, Inc., 2014-2018. All Rights Reserved.
Page 3 of 3
OTBS 016A FRB_Web PREM (1/18)
Rev. (1/18)