MAX CREDIT UNION 
VISA® PLATINUM CREDIT CARD AGREEMENT  
(RETAIN FOR YOUR RECORDS) 

In  this  Agreement,  the  words  “you”  and  “your”  mean  each  and  all  of  those  who  have  applied  for  the  Card,  signed  the  Card,  used  the  Card  or  authorized 
someone else to use the Card. “Card” means VISA Platinum card and any duplicates and renewals we issue. Account means your VISA Platinum card Line of 
Credit Account with us. “We,” “us” and “ours” mean MAX Credit Union. If you do not agree to the terms and conditions of this Agreement, you must not use any 
Card issued to you and you must cut all Cards issued to you in half and return them to us. 

1. Responsibility. If we issue you a Card, you agree to repay all debts and the FINANCE CHARGE arising from the use of the Card and the Account. For 
example, you are responsible for charges made by yourself, your spouse and minor children. You also agree to be 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 if you return all Cards. Your obligation to pay the Account balance continues even though an agreement, 
divorce decree or other court judgment to which we are not a party may direct you or one of the other persons responsible to pay the Account. Any person using 
the Card is jointly responsible with you for charges he or she makes, 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.  You  agree  the  Card  may  not  be  used  for  any  illegal  or  unlawful  activity  or  transactions, 
including but not limited to, illegal gambling. 

2. Lost Card Notification. If you believe the Card has been lost or stolen, you will immediately call us at 1 (800) 325-3678. 
3. Liability for Unauthorized Use. You may be liable for the unauthorized use of your Card. You will not be liable for unauthorized use that occurs after 
you notify the Credit Union, orally or in writing, of the loss, theft, or possible unauthorized use. In any case, your liability will not exceed $50.00. If you tell the 
Credit Union after learning of the loss or theft of the Card your liability for unauthorized transactions using the VISA system is zero. For ATM transactions, card 
transactions through a non-Visa network, Visa Commercial cards, Visa or Plus* ATM or any ATM transactions, or cards issued outside the United States, if you 
tell the Credit Union within two (2) days after learning of the loss or theft of the Card, your liability for unauthorized transactions is $50.00 and $500 if you do not 
tell the Credit Union within two (2) business days and if you do not tell us within sixty (60) days after the statement was mailed, you may not get back any money 
you lost if we can prove that we could have stopped someone from taking the money had you told us in time. We may require you to provide a written statement 
regarding claims of unauthorized transactions. If we determine that you have been grossly negligent or fraudulent in the handling of your account or Card, your 
liability may increase. These rules do not apply to other electronic transfers. 

4. Credit Line. If we approve your application, we will establish a self-replenishing Line of Credit for you and notify you of its amount when we issue the 
Card. 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 written application to us, or by telephone at 334-279-
1122 or 1-800-279-7535, which must be approved by a loan officer. By giving you written notice, we may reduce your Credit Line from time to time or, with good 
cause, revoke your Card and terminate this Agreement. Good cause includes your failure to comply with this Agreement or our adverse reevaluation of your 
credit worthiness. You may also terminate this Agreement at any time, but termination by either you or us does not affect your obligation to pay the Account 
balance. The Cards remain our property, and you must recover and surrender to us all Cards upon our request and upon termination of this Agreement. 

5. Credit Information. You authorize us to investigate your credit standing when opening, renewing or reviewing your Account, and you authorize us to 

disclose information regarding your Account to credit bureaus and other creditors who inquire of us about your credit standing. 

6. Monthly Payment. We will mail you a statement every month showing your Previous Balance of purchases and cash advances, the current transactions 
on  your  account,  the  remaining  credit  available  under  your  Credit  Line,  the  New  Balances  of  purchases  and  cash  advances,  the  Total  New  Balance,  the 
FINANCE CHARGE due to date, any other billed fees, and the Minimum Payment required. Every month you must pay at least the Minimum Payment within 25 
days of your statement closing date. You may; of course, pay more frequently, pay more than the Minimum Payment, or pay the Total New Balance in full, and 
you will reduce the FINANCE CHARGE by doing so. The Minimum Payment will be either (a) 3.00% of your Total New Balance, or $10.00, whichever is greater, 
or (b) your Total New Balance, if it is less than $10.00, plus (c) 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 Credit Line, you must immediately pay the excess upon our demand. We will apply your payments 
first to the previously billed and unpaid FINANCE CHARGE on cash advances; then to the previously billed and unpaid FINANCE CHARGE on purchases; then 
to any late charge outstanding and/or any over the limit charge outstanding, if applicable: then the remainder of the payment will be prorated and applied to the 
cash advance and purchases’ outstanding balances. If a payment is ever late ten days or more, you will be charged a late charge equal to 5.00% of the amount 
of  the  scheduled  payment  in  default,  with  a  minimum  charge  of  $.50  and  a  maximum  charge  of  $25.00.  You  agree  a  $30.00  fee  will  be  added  to  your  card 
balance, and such a fee will be treated as a purchase including FINANCE CHARGES, if a check to pay all or part of the card balance is returned unpaid. 

7. Finance Charges. If you have a zero purchase balance at the beginning of a statement cycle, you can avoid a FINANCE CHARGE on purchases billed 
during the cycle by paying the full amount of the New Balance of Purchases within 25 days of your statement closing date. Otherwise, purchases will be subject 
to a FINANCE CHARGE from the date they are posted to your account. Cash advances are always subject to a FINANCE CHARGE from the date they are 
posted to your Account. The FINANCE CHARGE (interest) is calculated at the periodic rate of 0.658% per month (ANNUAL PERCENTAGE RATE of 7.9%), on 
the average daily principal balances of purchases and cash advances in the Account. Separate FINANCE CHARGES for purchases and cash advances are 
determined by multiplying the periodic rate by the separate average daily balance for purchases and cash advances. Each average daily balance is determined 
by  taking  the  beginning  balance  (of  cash  advances  and  purchases)  in  your  account  each  day,  adding  any  new  purchases  or  cash  advances  (whichever  is 
applicable) and subtracting any payments or credit. The results are the daily balances. The daily 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. 

8. Annual Fee. An annual fee of $20.00 shall be charged to your account. The annual fee shall be treated as a purchase for purposes of calculating 

Finance Charges. 

9. Default. You will be in default if you fail to make any Minimum Payment when due. You will also be in default if (a) your ability to repay us is materially 
reduced  by  a  change  in  your  employment,  an  increase  in  your  obligations,  bankruptcy  or  insolvency  proceedings  involving  you,  your  death  or  your  failure  to 
abide by this Agreement, (b) you break any promise you have made to us under this Agreement or any other agreement you have with us, (c) any statement 
you have made in this Agreement, in connection with this Agreement or in connection with any other Agreement you have with us is not true, or (d) we should 
otherwise feel insecure in receiving payment of the Account balance for whatever reason. If you are in default, we have the right to demand immediate payment 
of  your  full  Account  Balance  at  once  without  notice  to  you.  In  the  event  of  a  default,  you  agree  to  pay  all  costs  of collecting  the  amount  you  owe  under  this 
agreement including, if the unpaid balance under this plan is greater than Three Hundred Dollars ($300.00) at the time of collection, reasonable attorney fees if 
the debt is referred for collection to an attorney who is not our employee and if suit is filed, court costs. 

10. Using the Card. You may use your VISA Platinum card at millions of locations worldwide. In addition, you may obtain cash advances from the Credit 
Union,  from  other  financial  institutions  participating  in  the  VISA  program  and  from  automated  teller  machines  (ATMs),  such  as  a  VISA  ATM  Network,  which 
provide  access  to  the  VISA  system.  (Not  all  ATMs  provide  such  access.)  You  will  need  to  use  your  Personal  Identification  Number  (PIN)  to  obtain  a  cash 
advance from an ATM. The monthly statement will identify the merchant, electronic terminal or financial institution at which transactions were made, but sales, 
cash advances, credit or other slips cannot be returned with the statement. You will retain the copy of such slips furnished at the time of the transaction in order 
to verify the monthly statement. We may make a reasonable charge for photocopies of slips you request. 

11. Returns and Adjustments. Merchants and others who honor the Card may give credit for returns or adjustments, and they will do so by sending us a 
credit slip which we will post to your Account. If your credits and payments exceed what you owe us, we will hold and apply this credit balance against future 
purchases and cash advances, or if it is $1 or more, refund it on your written request. 

12.  Foreign  Transactions.  Payments,  purchases  and  cash  advances  made  in  foreign  currencies  will  be  charged  to  your  account  in  U.S.  dollars.  The 
exchange rate between the transaction currency and the billing currency 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, which the rate may vary from the rate  Visa itself receives, or the 
government mandated rate in effect for the applicable central processing date, plus the 1% International Transaction Fee. 

13. Plan Merchant Disputes. We are not responsible for the refusal of any plan merchant or financial institution to honor your Card. We are subject to 
claim and defenses (other than tort claims) arising out of goods or services you purchase with the Card only if you have made a good faith attempt, but have 
been unable to obtain satisfaction from the 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 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. 

14. Security Interest. To secure your Account, you grant us a purchase money security interest under the Uniform Commercial Code in any goods you 
purchase through use of the Card. If you default, we will have the right to recover any of these goods which have not been paid for through our application of 
your payments in the manner described in Paragraph 6. 

15.  Security  Agreement.  The  payment  of  the  Credit  Card  Account  shall  be  secured  by  all  of  my  Credit  Union  accounts,  shares  and  certificates 
(excluding Individual Retirement Accounts) I now have or hereafter may have including all accounts I have a right to withdraw from or an ownership interest 
in. I am giving this interest to secure repayment of my credit card account as well as any other amounts I now owe or will owe the Credit Union. I am giving 
the Credit Union a security interest in all present and future shares in my account I have with the Credit Union or in which I have an interest. I authorize the 
Credit Union to take those funds, shares or certificates and apply  it to my debt if I  am in default. The Credit Union  may, solely at its option, allow  me to 
withdraw a portion of my shares without affecting its security interest. Withdrawals may not be allowed if it will reduce the amount of my shares in the Credit 
Union below the amount of my debt. I am not giving a security interest in an IRA, SEP, KEOUGH, or any other account which, if pledged, would result in the 
loss of special tax treatment under the Internal Revenue Code. 

16. Effect of Agreement. This Agreement is the contract which applies to all transactions on your Account even though the sales, cash advances, credit or 
other  slips  you  sign  or  receive  may  contain  different  terms.  We  may  amend  this  Agreement  from  time  to  time  by  sending  you  any  advance  written  notice 
required  by  law.  Any  amendment  to  this  Agreement  will  take  effect  on  the  day  it  is  mailed  unless  advance  notice  is  required  by  law.  Your  use  of  the  Card 
thereafter will indicate your agreement to the amendments. To the extent the law permits, and we indicate in our notice, amendments will apply to your existing 
Account balance as well as to future transactions. 
MAX.VPCC.790                                                                                             Page 1 of 2                                                                                 Effective Date 11/2011 

 
 
 
 
 
 
17. Governing Law. The terms and conditions of this Agreement are governed by and construed in accordance with the laws of the State of Alabama and 

any applicable Federal law. 

18. Delay in Enforcement. No delay in enforcement of our rights under this agreement will result in any loss of our rights or relieve you of any of your 

obligation. 

19. Invalidity of Provisions and Captions. If any provision of this agreement is deemed invalid the rest of this Agreement will remain in full force and 

effect. The paragraph headings are for convenience only and do not form a part of this Agreement. 

YOUR BILLING RIGHTS  
(KEEP THIS NOTICE FOR FUTURE USE) 

This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act. 

NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR LOAN ACCOUNT STATEMENT. If you think your statement is wrong, or if you need 
more information about a transaction on your statement, write us on a separate sheet at the address listed on your statement. Write to us as soon as possible. 
We must hear from you no later than 60 days after we sent you the first statement 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 loan account automatically from your savings or share draft 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 statement 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 send statements to you for 
the  amount  you  question,  including  FINANCE  CHARGES,  and  we  can  apply  any  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 statement that are not in question. 

If we find that we made a mistake on your statement, you will not have to pay any FINANCE CHARGES related to any questioned amount. If we didn’t 
make a mistake, you may have to pay FINANCE 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 it is due. 

If you fail to pay the amount that we think you owe, we may report you as 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 statement. 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 finally is. 

If we don’t follow these rules, we can’t collect the first $50 of the questioned amount, even if your statement 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 
service. 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. 

These limitations do not apply if the credit card issuer owns or operates the merchant, or mailed you the advertisement for property or services. 

ANNUAL PERCENTAGE RATE 
(APR) for Purchases, Balance 
Transfers and Cash Advances 
Variable Rate Information 

How to Avoid Paying Interest on 
Purchases 

Minimum Interest Charge 
For Credit Card Tips from the 
Federal Reserve Board 

Interest Rates and Interest Charges 

7.90% 
Your APR will not vary in relation to an index. However, all terms of your 
Credit Card Agreement are subject to change with 45 days prior notice. 
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. We will begin charging interest on 
balance transfers and cash advances on the transaction date. 
None 
To learn more about factors to consider when applying for or using a 
credit card, visit the website of the Federal Reserve Board at 
http://federalreserve.gov/creditcard 

Set-up and Maintenance Fees 

Fees 

NOTICE:  Some of these set-up and maintenance fees will be assessed 
before you begin using your card and will reduce the amount of credit you 
initially have available.   

You may still reject the plan, provided that you have not yet used the 
account or paid a fee after receiving a billing statement.  If you do reject 
the plan, you are not responsible for any fees or charges. 

•  Annual Fee 

Transaction Fees 

$20.00 

•  Balance Transfer 
•  Cash Advance 
•  Foreign Transactions 

None 
None 
1% International Transaction Fee 

Penalty Fees 

•  Late Payment 

•  Over-the Credit Limit 
•  Returned Payment 

5% of the amount of the scheduled payment in default, with a minimum 
charge of $0.50 and a maximum charge of $25.00 
None 
$30.00 

How  We  Will  Calculate  Your  Balance:  We  use  a  method  called  “Average  Daily 
Balance (including new purchases)”. See your account agreement for more details. 

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

MAX.VPCC.790                                                                                             Page 2 of 2                                                                                 Effective Date 11/2011