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Visa Credit/Debit Card
Agreement 

This Agreement covers your VISA Platinum Credit Card,

Platinum Awards Credit Card, Business Platinum Credit Card

and/or VISA Debit Card with Cyprus Federal Credit Union. In this

Agreement the words you and your mean each and all of those

who use or sign a card. We, us and ours mean Cyprus Credit

Union. Card and/or Credit card means the VISA Platinum Card,

VISA Platinum Awards Card, Business Platinum Card and/or VISA

Debit Card and any duplicates and renewals we issue. Account

means your VISA Platinum Card Line of Credit account, VISA

Platinum Awards Line of Credit account, VISA Business Platinum

Line of Credit account and/or VISA Debit Overdraft Line of

Credit account with us. You agree that if you receive, sign,

request, use or permit others to use or sign any of the cards

issued under this Agreement, that you have accepted and

agreed to all of the following terms, as amended from time to

time. You agree to all procedures required by us or any

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merchant which honors your card as well as all terms on the

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merchant which honors your card as well as all terms on the

visaagreement

card. Any plural term used in this Agreement shall be deemed

singular if context and construction so require. Any singular

term used in this Agreement shall be deemed plural if context

and construction so require.

1. Responsibility. If we issue you a card, you agree to repay

all amounts due and the FINANCE CHARGE arising from

the use of the card and the card account. You are

responsible for charges made by yourself, your spouse and

minor children. You are also responsible for charges made

by anyone else to whom you give the 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 may direct you or one of

the other persons responsible to pay the account. Any

person using the card is jointly responsible with you for

charges he or she makes and any fees, but if that person

signs the card, he or she becomes a party to this

Agreement and is also jointly responsible for all charges

on the account, including yours.

2. Lost Card Noti(cid:225)cation. If you believe the Card has been lost

or stolen, IMMEDIATELY CALL THE CREDIT UNION at: 801-

260-7600, 1-800-929- 7787 during regular business hours

or 1-800-682-6075 after hours. If your PIN has been

compromised, call 1-888-241-2400. A fee may be assessed

for replacement of each lost card. Refer to the fee

schedule.

3. Your Liability for Unauthorized Use. If you believe your

Card or your PIN has been lost or stolen or that someone

has transferred or may transfer money from your account(s)

without your permission, tell us AT ONCE. Telephoning is

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the best way of keeping your potential losses down.

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the best way of keeping your potential losses down.

4. Credit Line. We have established a self-replenishing VISA

Credit Card Line of Credit or VISA Debit Card Line of Credit

for you and have noti(cid:225)ed you of its amount when we

issued the card or on your statement. You agree not to let

the account balance exceed this approved Credit Line. Each

payment you make on the account will restore your Credit

Line by the amount of the payment which is applied to

principal. You may request an increase in your Credit Line

by contacting us, and approval by a loan of(cid:225)cer. By giving

you written notice we may reduce your Credit Line from

time to time, or with good cause, revoke your card and

Credit Line. Good cause includes 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 all the amounts due plus FINANCE

CHARGES. The card(s) remain our property and you must

recover and surrender to us all cards upon our request and

upon termination of this Agreement, or pay necessary

recovery costs incurred by us.

5. Credit Information. You authorize us to investigate your

credit standing when opening, renewing, or reviewing your

account. You authorize us to disclose information

regarding your account to credit reporting agencies and

creditors who inquire of us about your credit standing.

6. Monthly Payment. We will mail you a statement every

month showing your Previous Balance of purchases and

cash advances for Credit Card and withdrawals for VISA

Debit card, the current transactions on your account, the

remaining credit available under your Credit Line, the New

Balances of purchases and VISA Credit Card cash advances

and VISA Debit withdrawals, the Total New Balance, the

FINANCE CHARGE, any other billed fees, and the Minimum

Payment required. Your statement will show the required

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payment you must make for that statement and the date it

is due. By separate agreement you may authorize us to

charge the minimum payment automatically to your Share

Savings or Checking Account with us. You may 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 so doing. a. VISA Credit Card Monthly

Payment. Every month you must pay at least the Minimum

Payment upon receipt of your statement. The Minimum

Payment will be either (a) 3% of your Total New Balance, or

$25.00, whichever is greater; or (b) your Total New

Balance, if it is less than $25.00, plus any portion of the

Minimum Payment(s) shown on prior statement(s) which

remains unpaid. In addition, if at any time your total New

Balance exceeds your Credit Line, you must immediately

pay the excess amount. We will apply your payments (cid:225)rst

to the FINANCE CHARGE on both purchases and cash

advances, then to any billed fees, then to the principal

balance of purchases and cash advances. b. VISA Debit

Card Monthly Payment. The Minimum Payment will be

either (a) 3% of your Total New Balance, or $25.00,

whichever is greater; or (b) your Total New Balance, if it is

less than $25.00, plus any portion of the Minimum

Payment(s) shown on prior statement(s) which remains

unpaid. In addition, at any time your total New Balance

exceeds your Line of Credit, you must immediately pay the

excess amount. We will apply your payments (cid:225)rst to the

FINANCE CHARGE on both purchases and withdrawals,

then to any billed fees, then to the principal balance of

purchases and withdrawals.

7. Finance Charges. a. VISA Credit Card. You can avoid

FINANCE CHARGES on purchases by paying the statement

balance in full each month within 25 days of the statement

closing date. If you pay part of the purchases included in

the statement balance within 25 days of the statement

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the statement balance within 25 days of the statement

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closing date, FINANCE CHARGES will not apply to the

amount paid. However, cash advance fees may still apply. If

the payment due date falls on a non-business day,

payment must be received by the last business day prior to

the due date. VISA Credit Card / VISA Debit Card

Agreement No Cyprus Credit Union employee or agent will

request a cardholder to divulge their PIN in an oral or

written manner. You may be subject to a (cid:225)xed rate or

variable rate of interest. The applicable rate will be

disclosed to you on your Disclosure Statement and

monthly statements. Interest is calculated by multiplying

the applicable daily interest rate times the average daily

balance of purchases and cash advances. The daily interest

rate is calculated by dividing the applicable rate by 365.

The principal balances of purchases and cash advances are

determined each date during the statement period

beginning with the principal portion of your Previous

Balances, reduced by payments you make and credits we

apply, and increased by purchases and cash advances you

make and debit adjustments we make during the

statement period. The daily principal balances are totaled

and divided by the number of days in the statement period.

This produces separate average daily principal balances for

purchases and cash advances to which the daily periodic

rate is applied. The variable rate is the Wall Street Journal

Prime Rate published on the last day of the month plus a

margin. The margin for the VISA Platinum and VISA

Platinum Awards is based on your credit risk and will be

disclosed to you on your Disclosure Statement. The

maximum variable ANNUAL PERCENTAGE RATE is the

highest legal rate. The maximum increase or decrease your

rate can change per calendar year is 3.0%. b. Business Visa

Platinum Card. You can avoid FINANCE CHARGES on

purchases and cash advances by paying the statement

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balance in full each month within 25 days of the statement

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balance in full each month within 25 days of the statement

closing date. If the payment due date falls on a non-

business day, payment must be received by the last

business day prior to the due date. Otherwise, FINANCE

CHARGES will be assessed beginning from the previous

month’s transaction posting date, through the current

month’s statement closing date. A cash advance fee of

1.5% of the cash advance will be charged to your account

for each cash advance. This cash advance fee also applies

to withdrawals made from your VISA account through

automatic teller machines and other means. Your variable

rate interest is calculated by multiplying the applicable

variable daily rate times the average daily balance of

purchases and cash advances. The variable rate is Wall

Street Journal Prime Rate published on the last day of the

month plus a margin. The margin for the Business Visa

Platinum Card is as low as 6%. The daily rate is calculated

by dividing the applicable variable rate by 365. The

principal balances of purchases and cash advances are

determined each day during the statement period,

beginning with the principal portion of your Previous

Balances, reduced by payments you make and credits we

apply, and increased by purchases and cash advances you

make and debit adjustments we make during the

statement period. The daily principal balances are totaled,

and divided by the number of days in the statement period,

to produce separate average daily principal balances for

purchases and cash advances to which the periodic rate is

then applied. c. VISA Debit card. Your interest is calculated

by multiplying the applicable daily rate times the average

daily balance of purchases and withdrawals. The (cid:225)xed rate

is as low as 12.99%. The daily rate is calculated by dividing

the applicable rate by 365. The principal balances of

purchases and withdrawals are determined each day

during the statement period, beginning with the principal

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portion of your Previous Balances, reduced by payments

you make and credits we apply, and increased by purchases

and withdrawals you make and debit adjustments we make

during the statement period

8. Default. You will be in default if you fail to make any

Minimum Payment within 10 days after your statement due

date. You will also be in default if your ability to repay us

is materially reduced, you are a debtor in a bankruptcy or

insolvency proceedings, you pass away, you fail to abide by

this Agreement or if the value of our security interest

materially declines. We have the right to demand

immediate payment of your full account balance if you

default. To the extent permitted by law, you will also be

required to pay our collection expenses, including court

costs and reasonable attorneys’ fees.

9. Using the Card. To make a purchase or cash advance, there

are several methods for use of the card. You may present

the card to a participating VISA plan merchant, to us, or to

another (cid:225)nancial institution. You may complete the

transaction by using your Personal Identi(cid:225)cation Number

(PIN) in conjunction with the card in an Automated Teller

Machine or other type of electronic terminal that provides

access to the VISA system. You may provide your VISA card

information to merchants either by phone or by mail. The

monthly statement will identify the merchant, electronic

terminal, or (cid:225)nancial institution at which transactions were

made, but sales, cash advance, credit or other slips cannot

be returned with the statement. The Credit Union may

make a reasonable charge for photo copies of documents

you request.

10. Returns and Adjustments. a. VISA Platinum Credit Card,

VISA Platinum Awards Credit Card, Business Platinum

Credit Card. Merchants and others who honor the Card may

give credit for returns or adjustments, and they will do so

by sending us a credit slip which we will post to your

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by sending us a credit slip which we will post to your

visaagreement

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 $1.00 or

more, refund it upon your written request. b. VISA Debit

card. Merchants and others who honor the Card may give

credit for returns or adjustments, and they will do so by

sending us a credit slip which we will post to your

Checking Account.

11. Foreign Transactions. Purchases and cash advances made

in foreign countries and foreign currencies will be billed to

you in U.S. Dollars. The conversion rate will be made in

accordance with the operating regulations for international

transactions established by VISA International, Inc. VISA

has the right to assess a Foreign Conversion Fee. This fee

could be up to 1.5% of the transaction amount

12. Plan Merchant Disputes. We are not responsible for the

refusal of any plan merchant or (cid:225)nancial institution to

honor your card. We are subject to claims and defenses

(other than tort claims) arising out of goods and services

you purchase with the card only if you have made a good

faith attempt, but have been unable to obtain satisfaction

from the plan merchant, and: (a) your purchase was made

in response to an advertisement we sent or participated in

sending you; or (b) your purchase cost more than $50.00

and was made from a plan merchant in your state or within

100 miles of your home. Any other disputes you must

resolve directly with the plan merchant.

13. Cross Collateral Agreement. You hereby pledge as security

for the Line of Credit, any collateral that you have pledged

as security on any other existing loan or advance at the

credit union or which you will pledge as security in the

future. Understand that this is referred to as a cross

collateral agreement, and that you knowingly and

voluntarily grant the credit union the foregoing described

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security interests.

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security interests.

14. Lien and Right to Setoff. You hereby grant us a lien and

right to setoff on all shares and accumulated dividends in

any individual, joint, multiple party, or transaction

accounts. The Credit Union shall have a statutory lien and

right of setoff in all shares and accumulated dividends in

all individual, joint, multiple party, or transaction accounts

in which any of you has any interest. We may exercise our

lien rights without No Cyprus Credit Union employee or

agent will request a cardholder to divulge their PIN in an

oral or written manner. notice. The lien hereby created

shall be a lien on the future amount in any accounts and is

a possessory lien.

15. Effect of Agreement. This Agreement is the contract which

applies to all transactions on your account even though

the sales, cash advance, credit or other slips you sign or

receive may contain different terms. We may amend this

Agreement from time to time by sending you the advance

written notice as required by law. 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. Annual Fee. No annual fees are charged for VISA Credit or

Debit cards.

17. Late Charge. A late charge of 5% of the payment or $25

whichever is greater, shall be charged on any payment or

partial payment not made within 10 days after its due

date.

18. Final Expression. This agreement is the (cid:225)nal expression of

the terms of this Card and Account between Cyprus Credit

Union and the member(s)/borrower(s)/ user(s); this written

Agreement may not be contradicted by evidence of any

alleged oral agreement.

19. Illegal Transaction. Cards cannot be used for online

gambling or any other illegal activity. The card issuer

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cannot be held liable for these transactions.

20. Your Billing Rights. The following is important information

about your rights and our responsibilities under the Fair

Credit Billing Act. Notify Us in Case of Errors or Questions

About Your Bill. If you think your bill is wrong, or if you

need more information about a transaction on your bill,

write us on a separate sheet at the address listed on your

bill. Write to us as soon as possible, We must hear from

you no later than 60 days after we sent you the (cid:225)rst bill on

which the error or problem appeared. You can telephone

us, but doing so will not preserve your rights. In your letter

give us the following information: • Your name and

account number. • The dollar amount of the suspected

error. • Describe the error and explain, if you can, why you

believe there is an error. • If you need more information,

describe the item you are not sure about. • If you have

authorized us to pay your credit card bill automatically

from your share savings or checking account, you can stop

the payment on any amount you think is wrong. To stop

the payment your letter must reach us three business days

before the automatic payment is scheduled to occur. Your

Rights and Our Responsibilities After We Receive Your

Written Notice. We must acknowledge your letter within 30

days, unless we have corrected the error by then. Within 90

days, we must either correct the error or explain why we

believe the bill was correct. After we receive your letter, we

cannot try to collect any amount you question, or report

you as delinquent. We can continue to bill you for the

amount you question, including (cid:225)nance charges, and we

can apply an unpaid amount against your credit limit. You

do not have to pay any questioned amount while we are

investigating, but you are still obligated to pay the parts of

your bill that are not in question. If we (cid:225)nd that we made a

mistake on your bill, you will not have to pay any (cid:225)nance

charges related to any questioned amount. If we didn’t

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charges related to any questioned amount. If we didn’t

visaagreement

make a mistake, you may have to pay (cid:225)nance charges, and

you will have to make up any missed payments on the

questioned amount. In either case, we will send you a

statement of the amount you owe and the date that it is

due. If you fail to pay the amount that we think you owe,

we may report youas delinquent. However, if our

explanation does not satisfy you and you write to us within

ten days telling us that you still refuse to pay, we must tell

anyone we report you to that you have a question about

your bill. And, we must tell you the name of anyone we

reported you to. We must tell anyone we report you to that

the matter has been settled between us when it (cid:225)nally is.

If we don’t follow these rules, we can’t collect the (cid:225)rst

$50.00 of the questioned amount, even if your bill was

correct. Special Rule for Credit Card Purchases. If you have

a problem with the quality of property or services that you

purchased with a 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

property or services. There are two limitations on this

right: (a) You must have made the purchase in your home

state, or if not within your home state, within 100 miles of

your current mailing address; and (b) The purchase price

must have been more than $50.00. These limitations do

not apply if we own or operate the merchant, or if we

mailed you the advertisement for the property or services.

21. VISA Platinum Awards Credit Card Extra Awards Bene(cid:225)ts.

The Credit Union reserves the right to make changes to the

VISA Platinum credit card Extra Awards bene(cid:225)ts.

22. Copy received. You acknowledge receipt of a copy of this

agreement.

23. Shares Secured. If this is a share secured VISA account, all

amounts in any accounts at the Credit Union are pledged

and assigned as security for any amounts owed. A speci(cid:225)c

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amount may be held as security and cannot be withdrawn.

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amount may be held as security and cannot be withdrawn.

In the event of default, the Credit Union may apply any

amounts in any accounts you are associated with, without

notice or legal process to the entire unpaid account

balance, costs, fees and other amounts due.

24. Application of Payment. The Credit Union reserves the

right to apply any payment made by you or any other loan

or debt which you now or in the future may owe the Credit

Union whether as maker or co-maker, co-signer or

guarantor. Each payment shall be applied as follow; (cid:225)rst,

to accrued costs of collection, including reasonable

attorney’s fees; second, to payments made by us to

preserve any collateral securing this or other Agreement

with us; third, to any other payments made by us and

provided in this Agreement or in any trust deeds, security

agreements, guaranties, liens, or pledges securing

payment of this Agreement; fourth, to any late chargers;

(cid:225)fth, to accrued interest; and sixth, to principal. This

application of payments applies even if you have made a

different designation on or with payment.

25. Special Introductory Terms. If your Cyprus Visa account was

opened after March 1, 2015, your introductory APR for

purchases will be 0% for the (cid:225)rst (6) billing cycles. Your

introductory APR for balance transfers will be 0% for the

(cid:225)rst six (6) billing cycles. These introductory rates are not

available for the Starter, Teen or Business accounts. REV

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