Navy Federal Credit Union® Credit Card Agreement and Disclosure

Interest Rates and Interest Charges
Variable Annual Percentage Rate (APR)1

Rates apply to purchases, balance transfers, and convenience checks.

Platinum

nRewards®

GO REWARDS®2

cashRewards3

Visa Signature®

 Flagship Rewards

Cash Advance APR1

Penalty APR and When It Applies

Paying Interest

8.49% to 18.0%
9.49% to 18.0%
9.99% to 18.0%
10.15% to 18.0%
10.49% to 18.0%
This APR will vary with the market based on the Prime Rate.

2% above your variable APR. This APR will vary with the market based on the Prime Rate.

18.0%
This APR may apply to your account if you:
•   are over 60 days past due or
•   make a payment that is returned and causes your account to be  

over 60 days past due

How long will the Penalty APR apply? If your APRs are increased for either 
of these reasons, the Penalty APR will apply until you make six consecutive 
minimum payments when due.

Your due date is at least 25 days after the close of each billing cycle. We will not 
charge you interest on purchases if you pay your entire balance by the due date 
each month. We will begin charging interest on Cash Advances, Balance Transfers, 
and Convenience Checks on the transaction date.

Minimum Interest Charge

None

For Credit Card Tips From the Consumer Financial Protection Bureau

To learn more about factors to consider when applying for or using a credit 
card, visit the website of the Consumer Financial Protection Bureau at:  
http://www.consumerfinance.gov/learnmore.

Fees
Annual Fees
•  nRewards, Platinum,  

cashRewards, GO REWARDS
• Visa Signature Flagship Rewards4

Transaction Fees

• ATM Cash Advance

• Foreign Transaction

Penalty Fees
• Late Payment5
• Returned Payment

•   None 

•  $49.00 

•  None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per 

domestic transaction or $1.00 per overseas transaction.

•  None

• Up to $20.00
• Up to $20.00

•   How We Will Calculate Your Balance: We use a method called “average daily balance (including new transactions).” See your account agreement for more details.

•  Loss of Introductory APR: You may lose your Introductory APR if the Penalty APR applies to your account.

•  Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided in your account agreement.

     1  Variable Rate Information: Your APR may vary. Rates are determined and adjusted monthly on the first business day by adding a Margin to the highest Prime Rate published 
in the Wall Street Journal on the first day of the previous month. The Margin is determined based on an evaluation of each member’s credit history. The Margin will range 
from 4.74% to 14.75% based on product type.

2  GO REWARDS Cards: If you have an account with a credit line of less than $5,000, you received a Visa® GO REWARDS Card. If your credit line is $5,000 or greater, you 
received a Visa Signature GO REWARDS Card. The benefits for Visa GO REWARDS accounts differ from those for Visa Signature GO REWARDS accounts.

     3  cashRewards Cards: If you have an account with a credit line of less than $5,000, you received a Visa cashRewards Card. If your credit line is $5,000 or greater,  

you received a Visa Signature cashRewards Card. The benefits for Visa cashRewards accounts differ from those for Visa Signature cashRewards accounts.

    4  Annual Fees: If you have been issued a Visa Signature Flagship Rewards Card, you will be billed the annual membership fee. This charge will appear on your first statement, 

and annually thereafter. Only one fee will be charged to your account regardless of the number of cards issued on the account.

     5  Late Payment Fee: You will be required to pay a late payment fee of up to $20.00 if you do not pay at least the minimum payment by the payment due date on your statement. 

Navy Federal may also assess the late payment fee every month thereafter that you are past due.

Other Fee: Returned convenience check fee — $20.00.

     © 2017 Navy Federal NFCU 573CC (1-17) 

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Preamble. As used in this Agreement, the words “you” and “your” mean each and every person signing, 
using, or having a credit card account with Navy Federal Credit Union, referred to as “we,” “us,” or “NFCU.” 
All correspondence to us relating to this Agreement should be addressed to NFCU, PO Box 3501, Merrifield, 
VA 22119-3501. You may also call us toll-free in the U.S. at 1-888-842-6328. For toll-free numbers when 
overseas, visit navyfederal.org. Use 1-703-255-8837 for collect international calls. Information concerning 
NFCU credit cards may also be obtained at navyfederal.org. Virginia law will be used to interpret this Agreement 
unless federal law applies. 
1.  This Is Your Agreement With NFCU. Please read the Agreement carefully and keep a copy for your 
records. It is a summary of terms that control the use of your credit card account. By using your credit card,  
you agree to all the terms of this Agreement.
2.  Maximum Amount You May Owe NFCU. The maximum amount you may owe us at any time is the 
amount of your assigned credit limit. You may not use your card if you owe us more than your credit limit. If 
you exceed the credit limit, you must pay this amount immediately. You may request a change to your credit 
limit by calling the telephone number or writing to the address shown in the Preamble of this Agreement. We 
reserve the right to determine your credit and/or cash line and may increase, decrease, or restrict it at any time  
without notice.
3.  Promise to Pay. You agree to pay us the amount of all purchases and cash advances that you, your 
joint cardholder, and/or authorized users make using your credit card or any other access device provided. You 
also agree to pay the total of any interest charges and other charges/fees due on your account according to 
the Agreement. If this is a joint account, the joint cardholder also promises to pay all amounts owed to us. If 
you allow another person to use your credit card, you are responsible for paying for their purchases and cash  
advances also.
4.  Savings Account Required. All NFCU credit card account owners must have an open savings account 
with a $5.00 minimum balance. If you do not have a savings account, one will be opened for you. If your balance 
is less than $5.00, your credit card may be charged with a purchase transaction to bring your balance to  
the minimum.
5. 
having a credit card with NFCU. 

 For purposes of this section, the words “I” and “we” mean each and every person signing, using, or

a.  Security  Interest  Specific  for  Credit  Cards.  I/We  acknowledge  and  pledge, 
specifically as a condition of my/our use of the credit card, that I/we have voluntarily 
granted NFCU a security interest in all of my/our individual and joint share accounts at 
NFCU. If my/our credit card loan becomes delinquent, this security interest may be used 
without further notice to pay all or part of such delinquency. This security interest does 
not apply to shares in an Individual Retirement Account (IRA).

• 

b.  Statutory Lien. I/We acknowledge and pledge to NFCU a statutory lien in my/our shares and dividends 
on deposit in all joint and individual accounts and any monies held by NFCU now and in the future, to the 
extent of any loan made and any charges payable. The statutory lien does not apply to shares in any IRA.  
I/We acknowledge and pledge to NFCU a security interest in the collateral securing loan(s) that I/we have with 
NFCU now and in the future, including any type of change or increase, and any proceeds from the sale of such 
collateral and of insurance thereon, not to exceed the unpaid balance of the loan. This security interest in 
collateral securing other loans does not apply to any loan(s) on my/our primary residence.
6.  Payments. All payments made to us must be in U.S. dollars. Mailed payments must be addressed to NFCU, 
PO Box 3500, Merrifield, VA 22119-3500. Mailed payments received by 5:00 pm at this address will be credited 
the same day. In some cases, available credit may be delayed until the payment is verified. Mailed payments to 
your credit card account may not be commingled with funds designated for credit to other NFCU accounts. We will 
accept late or partial payments without forfeiting any of NFCU’s rights under this Agreement. Payments that are 
marked “paid in full” and that are of an amount less than the balance on the credit card account, or that are marked  
with  any  other  restrictive  endorsements,  should  be  sent  to  PO  Box  3105,  Merrifield,  VA  22116,  
Attn. Credit Card Division.
7.  Foreign Transactions.
• 

 Visa. All Visa purchases and cash advances will be billed to you in U.S. dollars. The rate of exchange 
used  for  processing  international  transactions  is  a  rate  selected  by  Visa  from  the  range  of  rates 
available in wholesale currency markets for the applicable central processing date and may vary from  
the  rate  Visa  itself  receives  or  the  government-mandated  rate  in  effect  for  the  applicable  central  
processing date.
 Mastercard. All Mastercard purchases and cash advances will be billed to you in U.S. dollars. Currently, 
the rate of exchange used is either a government-mandated rate or a wholesale rate determined by 
Mastercard International for the processing cycle in which the transaction is processed. This rate of exchange 
may differ from the rate that would have been used on the purchase date or cardholder statement posting date.
8.  How Much You Must Pay Us. Your monthly statement will tell you the total amount that you owe us, 
the minimum payment that you must make, and your payment due date. The minimum payment for credit card 
accounts will be the greater of (1) 2% of the new balance or (2) $20.00. If the new balance of your account is less 
than $20.00, the minimum payment will be the new balance.
You may pay the new balance in whole or in part at any time. We will not charge you a penalty for paying more 
than the minimum payment. Paying ahead and skipping a payment will not reduce your liability for interest 
charges in the month that you do not make a payment. If your account has balances with different APRs, the 
minimum payment will be allocated to the balance with the lowest APR before any payments are allocated to 
balances with a higher APR. Any payment amount received in excess of the minimum payment will be allocated 
to the balance with the highest APR and any remaining portion to the other balances in descending order based 
on the APR.
9.  How We Determine the Amount of Interest Charges. NFCU calculates interest charges on your account 
by applying the periodic rate to the “average daily balance” of your account, including current transactions. To 
calculate the “average daily balance,” we take the beginning balance of your account each day, add any new 
purchases and cash advances, and subtract any payments, credits, and unpaid interest charges. The resulting 
total is the daily balance. We then add together all the daily balances for the billing cycle and divide the total by the 
number of days in the billing cycle. This amount is your “average daily balance.”
10.  Ownership of Credit Card. Every card remains the property of NFCU. We have the right to cancel your 
account at any time with or without written notice to you. You must return the card if we ask you to do so. You 
cannot use the card after it has been canceled. 
11.  You May Cancel Your Account. You may cancel your credit card account with us at any time by notifying 
us using the contact information in the Preamble of this Agreement. For credit card accounts requested by 
telephone, you may cancel the account without being charged any fees up until the time you use the account or 
make a payment on the account after receiving a billing statement.
12.  Cardholder Signature. Your card is not valid unless it is signed. Sign the back of your card immediately 
upon its receipt.
13.  Liability for Unauthorized Use. If you notice the loss or theft of your credit card or possible 
unauthorized use of your card, you should write to us or call us immediately at the address or 
telephone number included in the Preamble of this Agreement. You may also contact us on the Web 
at navyfederal.org. You will not be responsible for charges made to your account that are found by 
us to be unauthorized.
14.  Consumer  Reporting  Agencies.  NFCU  may  report  information  about  your  credit  card  account  to 
consumer reporting agencies. We may also access your credit report for any permissible purpose under 
the Fair Credit Reporting Act, including periodic reviews of your creditworthiness, collections, and 
future credit line increases.
15.  Default. If you violate any terms of this Agreement, you fail to pay the amount due as listed on your monthly 
statement, you commence in bankruptcy proceedings, we determine that there has been a substantial adverse 
effect on your ability to repay the debt incurred on this account, or you become incapacitated or die, NFCU may, 
without notice or demand, deny use of your credit line, cancel your credit card account, and/or declare due 
and payable the unpaid portion of your balance, together with all costs relating to the collection of this account, 
including, but not limited to, the outstanding balance, unassessed interest charges, court costs, expenses, and 
attorney’s fees.

If you do not make your minimum payment by the due date and your account is over 60 days past due or you 
make a payment that is returned and causes your account to be over 60 days past due, your account will be 
considered in default. The Penalty APR will be applied to any and all transactions and outstanding balances in 
your account, including Promotional APRs and other balances effective at least 45 days after your account is 
considered in default.
If you are in default, you give NFCU permission to obtain your Active Duty/Reserve address. You also authorize 
NFCU to contact and receive from any person any information that NFCU deems necessary to cure or collect 
said default.
16.  How We May Contact You. You expressly agree that to service your account or to collect any amounts 
you may owe NFCU, we or authorized parties may call you and send text messages to you. We may use 
pre-recorded/artificial voice messages or an automatic dialing device to contact you at any telephone number 
associated with your account, including mobile telephone numbers, all of which could result in charges  
to you. You also expressly consent that we may send email messages regarding your account to your  
email address.
17.  Use of Card for Illegal or Risky Transactions. It is your responsibility to comply with all laws when using 
your NFCU credit card. You agree to hold us harmless for any damages or other liability arising from a transaction 
initiated by you or your authorized user for the purpose of conducting an illegal activity. We reserve the right 
to decline authorization of transactions for activities we believe may violate law or pose significant risk to us or  
our members.
18.  Amendment of This Agreement. The Provisions of this Agreement are severable. If any provision of 
this Agreement is held by a court of law to be invalid or unenforceable, the rest of this Agreement will not 
be affected. NFCU may amend and change this Agreement, including rates, by providing an advance written 
notice of the changes to you. However, we may reduce charges, fees, and rates without sending you an 
advance notice. 
19.  Your 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 the address provided in the Preamble 
or via the Web at navyfederal.org.
In your letter, give us the following information:
•  Account information: Your name and account number.
•  Dollar amount: The dollar amount of the suspected error.
• 

 Description of problem: If you think there is an error on your bill, describe what you believe is 
wrong and why you believe it is a mistake.

You must contact us:
•  within 60 days after the error appeared on your statement.
• 

 at least three business days before an automated payment is scheduled, if you want to stop 
payment on the amount you think is wrong.

You must notify us of any potential errors in writing or electronically. You may call us, but if you do, we 
are not required to investigate any potential errors and 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.
 Within 90 days of receiving your letter, we must either correct the error or explain to you why we 
believe the bill is correct.

2. 

• 

• 

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 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 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.)
 You must have used your credit card for the purchase. Purchases made with cash advances from 
an ATM or with a check that accesses your credit card account do not qualify.
 You must not yet have fully paid for the purchase.

3. 
If  all  the  criteria  above  are  met  and  you  are  still  dissatisfied  with  the  purchase,  contact  us  
in writing or electronically at the address provided in the Preamble or via the Web at navyfederal.org.
While we investigate, the same rules apply to the disputed amount as discussed above. 
After we finish our investigation, we will tell you our decision. At that point, if we think you owe an 
amount and you do not pay, we may report you as delinquent.
20.  Notice Concerning Use of an Automatic Teller Machine (ATM). Be alert. Do not use the ATM if the 
lights are not in operation or you see suspicious activity. Take someone with you if you must make a transaction 
at night. If you sense someone attempting to view your transaction, cancel the transaction and leave. Remember 
to take your card, cash, and receipt and put them away. Count your money only when you are safely away from 
the ATM area. Immediately report all crimes to the operator of the ATM and to local law enforcement officials.

2. 

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