FirefightersFirst
CREDIT LINE ACCOUNT AGREEMENT
AND FEDERAL DISCLOSURE STATEMENT
CREDIT UNION
815 Colorado Boulevard
THIS IS YOUR CREDIT LINE ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY FEDERAL TRUTH-IN-
Los Angeles, CA 90041
LENDING DISCLOSURE STATEMENTS, CLASSIC VISA, SECURED CLASSIC VISA, PLATINUM VISA,
(323) 254-1700
SECURED PLATINUM VISA, CALIFORNIA PROFESSIONAL FIREFIGHTERS ("CPF") VISA, AND SECURED
CALIFORNIA PROFESSIONAL FIREFIGHTERS ("CPF") VISA AGREEMENTS, AND ANY SPECIAL
INSTRUCTIONS REGARDING THE USE OF YOUR CLASSIC VISA, SECURED CLASSIC VISA, PLATINUM
VISA, SECURED PLATINUM VISA, CPF VISA, AND SECURED CPF VISA CREDIT CARDS, AND/OR ANY
OTHER ACCOUNT ACCESS DEVICE. PLEASE BE CERTAIN TO READ THIS AGREEMENT CAREFULLY AND
NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR.
Interest Rate and Interest Charges
Annual Percentage Rate
Classic VISA:
%
Secured Platinum VISA:
%
(APR) For Purchases
Secured Classic VISA:
%
CPF VISA:
%
Platinum VISA:
%
Secured CPF VISA:
%
APR For Balance Transfers
Classic VISA:
%
Secured Platinum VISA:
%
Secured Classic VISA:
%
CPF VISA:
%
Platinum VISA:
%
Secured CPF VISA:
%
APR For Cash Advances
Classic VISA:
%
Secured Platinum VISA:
%
Secured Classic VISA:
%
CPF VISA:
%
Platinum VISA:
%
Secured CPF VISA:
%
Safety Line Line of Credit:
%
This APR will vary with the market based on the Prime Rate.
Paying Interest
We will not charge You interest on purchases if You pay Your entire balance owed each month
within 25 days of Your statement closing date. We will begin charging interest on cash
advances and balance transfers on the transaction date.
For Credit Card Tips from
To learn more about factors to consider when applying for or using a Credit Card,
the Consumer Financial
visit the website of the Consumer Financial Protection Bureau at
Protection Bureau
http:www.consumerfinance.gov/learnmore.
Fees
Transaction Fees
Foreign Transaction
For VISA, 1.00% of each foreign currency transaction in U.S. dollars.
For VISA, 1.00% of each U.S. Dollar transaction that occurs in a foreign country.
Penalty Fees
Returned Payment
For VISA, up to $22.00
Late Payment
For VISA, up to $15.00
Except VISA, $15.00
How We Will Calculate Your Balance: Except VISA, We use a method called "daily balance." For VISA, 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.
Copyright Oak Tree Business Systems, Inc., 2015. All Rights Reserved.
Page of 5
OTBS 016 LAFR (12/15)
In
this Agreement, the reference to "We," "Us," "Our" and "Credit Union" mean FIREFIGHTERS FIRST CREDIT UNION. The words "You" and "Your" mean each person
accepting this Agreement. If this is a joint Account, read singular pronouns in the plural. The words "Card" and "Credit Card" mean any Classic VISA, Secured Classic VISA,
Platinum VISA, Secured Platinum VISA, CPF VISA, or Secured CPF VISA Credit Card issued to You by Us and any duplicates or renewals. "Convenience Checks" mean
the special Account access devices that We may provide for Your use from time to time.
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. You may request advances on Your Account through a variety of means which could include (but may not be limited to) telephonic
requests, advance request forms, vouchers, checks, charge slips, Convenience Checks, debit cards, ATM cards, Credit Cards, wire transfers, direct transfers and/or wire
transfers to specific payees identified by You, direct transfers to Your share/share draft or other Credit Union account and the like. Regardless of the means by which any
advance is made, You promise to pay Us all amounts charged 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.
FEATURE CATEGORIES. Your Account has Feature Categories which may include Safety Line Line of Credit, Classic VISA, Secured Classic VISA, Platinum VISA,
Secured Platinum VISA, CPF VISA, and Secured CPF VISA.
Monthly
Annual
Feature Category
Periodic Rate
Percentage Rate
for Purchases
for Purchases
Classic VISA
%
%
Platinum VISA
%
%
CPF VISA
%
%
Secured Classic VISA
%
%
Secured Platinum VISA
%
%
Secured CPF VISA
%
%
Monthly
Annual
Feature Category
Periodic Rate
Percentage Rate
for Balance Transfers
for Balance Transfers
Classic VISA
%
%
Platinum VISA
%
%
CPF VISA
%
%
Secured Classic VISA
%
%
Secured Platinum VISA
%
%
Secured CPF VISA
%
%
Variable Rate
Daily
Monthly
Annual
Feature Category
Periodic Rate
Periodic Rate
Percentage Rate
Index
Margin
for Cash Advances
for Cash Advances
for Cash Advances
Classic VISA
%
%
Platinum VISA
%
%
CPF VISA
%
%
Secured Classic VISA
%
%
Secured Platinum VISA
%
%
Secured CPF VISA
%
%
Safety Line Line of Credit
%
%
ADVANCES. Whenever You request a transaction, We may require You to prove Your
SECURITY. As permitted by law, to secure all transactions under this Agreement in
identity. Advances made on Your Account will be processed according to the
either joint or individual Accounts, We have the right to impress and enforce a
instructions You give Us (such as by wire transfer, direct transfer to Your Credit Union
statutory lien against Your shares on deposit with Us (other than those deposits
account or by other such means) and You authorize Us to do this, or We may draw a
established under a governmental approved tax deferral plan such as an IRA or
draft or check made payable to You and mail it to You. When the amount advanced
Keogh account), and any dividends due or to become due to You from Us to the
appears on a subsequent statement, that will be conclusive evidence of Your advance
extent that You owe on any unpaid balance on Your Account and We may enforce
request unless You notify Us that You disagree with any such item appearing on Your
Our right to do so without further notice to You. Additionally, You agree that We may
periodic statement according to the provision of this Agreement titled "Your Billing
set-off any mutual indebtedness.
Rights: Keep this Document for Future Use." You understand that whether or not any
specific secured advance request is approved may be determined by how much equity
You acknowledge that You own any certificates, shares and/or Collateral pledged
You have or will have in the shares, certificates and/or Collateral offered as security.
as security and that there are no other liens against them other than Ours. You
Copyright Oak Tree Business Systems, Inc., 2015. All Rights Reserved.
Page 2 of 5
OTBS 016 LAFR (12/15)
agree to perform all acts which are necessary to make Our security interest in
Unpaid Balance
Minimum Payment
the certificates, shares and/or Collateral being pledged enforceable.
$10,000.01 $12,000.00
$350.00
$12,000.01 $14,000.00
$400.00
For advances under any Feature Category secured by certificates, You agree that all
$14,000.01 $16,000.00
$450.00
certificates which are pledged as Collateral must be renewed until Your outstanding
$16,000.01 $18,000.00
$500.00
balance is paid in full and the such Feature Category is closed. Failure to renew any
$18,000.01 $20,000.00
$550.00
certificates securing any advance will cause Your entire outstanding Account balance to
$20,000.01 $22,000.00
$600.00
become immediately due and payable.
$22,000.01 $24,000.00
$650.00
$24,000.01 $26,000.00
$700.00
OTHER SECURITY. Collateral (other than household goods or any dwelling) given as
$26,000.01 $28,000.00
$750.00
security under this Agreement or for any other loan You may have with Us will secure all
$28,000.01 $30,000.00
$800.00
amounts You owe Us now and in the future if that status is reflected in the "Truth-in-
$30,000.01 $32,000.00
$850.00
Lending Disclosure" in any particular Agreement evidencing such debt.
$32,000.01 $34,000.00
$900.00
$36,000.01 $38,000.00
$950.00
CONSENSUAL LIEN ON SHARES. If You have been issued a Credit Card, ATM
$38,000.01 $40,000.00
$1,000.00
card or debit card, You grant and consent to a lien on Your shares with Us
$40,000.01 $42,000.00
$1,050.00
(except for IRA and Keogh accounts) and any dividends due or to become due to
$42,000.01 $44,000.00
$1,100.00
You from Us to the extent You owe on any unpaid Credit Card balance, and/or
$44,000.01 $46,000.00
$1,150.00
Safety Line Line of Credit balance created through the use of Your ATM card or
$46,000.01 $48,000.00
$1,200.00
debit card.
$48,000.01 $50,000.00
$1,250.00
$50,000.01 & Greater
2.50% of the
ACCOUNT RESTRICTIONS. In order to receive and maintain a Secured Classic VISA,
unpaid balance
Secured Platinum VISA, or Secured CPF VISA Feature Category, You agree to give Us a
specific pledge of shares which will equal Your Credit Limit. In the event that You default
VISA Minimum Payments will be an amount equal to 2.50% of Your new unpaid
on such Feature Category, We may apply these shares toward the repayment of any
VISA balance at the end of each billing cycle, subject to the lesser of $25.00 or Your
amount owed on that Feature Category. You may cancel Your Secured Classic VISA,
balance, plus any portion of the Minimum Payments shown on prior statement(s)
Secured Platinum VISA, or Secured CPF VISA Feature Category at any time by paying
which remains unpaid, plus any amount that exceeds Your approved Credit Limit.
any amounts owed on that Feature Category. To be certain that Your entire balance and
all advances are paid, any shares pledged may not be available to You for 30 days after
You may, by separate agreement, authorize Us to charge Your payment directly to
You have cancelled and any outstanding balance is paid in full.
Your share or share draft account.
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for each
LATE CHARGE (EXCEPT VISA). If Your payment is 15 or more days late, You will
Feature Category for which You are approved. Unless You are in default, any Credit
be charged $15.00.
Limits established for You will generally be self-replenishing as You make
payments. You will keep Your unpaid balance within Your Credit Limit set by Us,
FINANCE CHARGES (EXCEPT VISA). A Finance Charge will be assessed on any
and You will pay any amount over Your Credit Limit on Our demand whether or not
unpaid principal balance for each Feature Category of Your Account for the period
We authorize the advances which caused You to exceed Your Credit Limit. Even if
such balance is outstanding. Balances change each time advances are made,
Your unpaid balance is less than Your Credit Limit, You will have no credit available
payments are made or credits given under any Feature Category. The Finance
during any time that any aspect of Your Account is in default.
Charge begins to accrue on the date of each advance and there is no grace period.
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for the
HOW TO DETERMINE THE FINANCE CHARGE (EXCEPT VISA). The Finance
repayment of any amounts owed. If any Account access device, such as a Personal
Charge is determined by multiplying Your unpaid balance at the close of each day in
Identification Number (PIN) is requested and approved, You understand that any
the billing cycle being accounted for by the applicable Daily Periodic Rate. The
such Account access device(s) will be mailed only to the primary Borrower at the
unpaid balance is the balance each day after payments, credits, and unpaid
address that We have on file for You. We may refuse to follow any instructions
Finance Charges to that balance have been subtracted and any new advances,
which run counter to this provision.
insurance premiums or other charges have been added to Your unpaid balance.
These daily Finance Charges are then added together and the sum is the amount
of
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You need
the Finance Charge owed for the Feature Category being accounted for. The total
only pay the Minimum Monthly Payments, You understand that You have the right to
Finance Charge You owe on Your Account for each billing cycle is the sum of all the
repay at any time without penalty. You also understand that You will only be
Finance Charges due for all applicable Feature Categories.
charged periodic Finance Charges to the date You repay Your entire balance. You
may make larger payments without penalty. Any partial payment or prepayment will
VISA FINANCE CHARGES. The balances subject to the periodic Finance Charge
not delay Your next scheduled payment. All payments to Us must be in lawful
are the average daily transactions balances outstanding during the month (including
money of the United States. We may apply each payment to whichever Feature
new transactions). To get the average daily balance, We take the beginning balance
Category We wish. For all Feature Categories (except VISA), payments will be
of Your Account each day, add any new purchases, balance transfers, cash
applied first to any Late Charges owing, then to the Finance Charge due, then to the
advances, debit adjustments or other charges and subtract any payments, credits
outstanding principal balance. As permitted by law, We may apply VISA payments
and unpaid Finance Charges. This gives Us the daily balance. Then, We add up all
at Our discretion.
the daily balances for the billing cycle and divide them by the number of days in the
billing cycle. The Finance Charge for a billing cycle is computed by multiplying the
Any unpaid portion of the Finance Charge will be paid by subsequent payments and
average daily balance subject to a Finance Charge by the Monthly Periodic Rate.
will not be added to Your principal balance. You understand that any delay in the
repayment of Your unpaid balance will increase Your periodic Finance Charges and
You can avoid Finance Charges on purchases by paying the full amount of the
any acceleration in the repayment of Your unpaid balance will decrease Your
entire balance owed each month within 25 days of Your statement closing date.
periodic Finance Charges.
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
Safety Line Line of Credit Minimum Monthly Payments will be established at the
transfers and cash advances are always subject to a Finance Charge from the later
close of each billing cycle in an amount equal to the lesser of Your balance or that
of the date they are posted to Your Account or from the first day of the billing cycle
described in the following table, plus any portion of the Minimum Payments shown
in which the transaction is posted to Your Account.
on prior statement(s) which remains unpaid, plus any amount that exceeds Your
approved Credit Limit:
VARIABLE RATE (EXCEPT VISA). All advances are subject to a Variable Rate
which is based on the highest Prime Rate as published in the Money Rates section
Unpaid Balance
Minimum Payment
of The Wall Street Journal in effect on the last day of each calendar month ("Index")
$0.01 $1,000.00
$25.00
plus Our Margin. The Index plus the Margin equals the Interest Rate. Changes in
$1,000.01 $2,000.00
$50.00
the Index will cause changes in the Interest Rate on the 1st day of the billing cycle
$1,000.01 $2,000.00
$75.00
in the month that immediately follows a change in the Index. Increases or decreases
$2,000.01 $3,000.00
$125.00
in the Interest Rate will cause like increases or decreases in the Finance Charge
$3,000.01 $5,000.00
$150.00
and will affect the number of Your regularly scheduled payments. Your Interest Rate
$5,000.01 $6,000.00
$188.00
will never be greater than 18.00% nor less than 8.00% and will apply to Your
$6,000.01 $7,500.00
$225.00
remaining principal balance.
$7,500.01 $9,000.00
$250.00
$9,000.01 $10,000.00
$300.00
OVERDRAFT PROTECTION. We may transfer funds in the amount necessary
(or in such increments as We may from time to time determine) to Your share
Copyright Oak Tree Business Systems, Inc., 2015. All Rights Reserved.
Page 3 of 5
OTBS 016 LAFR (12/15)
draft account by an advance on Your Safety Line Line of Credit, Classic VISA,
about the status and payment history of Your Account to consumer credit reporting
Secured Classic VISA, Platinum VISA, Secured Platinum VISA, CPF VISA, or
agencies, a prospective employer or insurer, or a state or federal licensing agency
Secured CPF VISA Feature Category, subject to this provision, to clear any
having any apparent legitimate business need for such information.
overdraft on Your share draft account. Whether or not such transfers occur will
be controlled by this Agreement. In any event, You hold Us harmless for any and
TERMINATION. Either You or We may cancel Your Account or any particular
all liability which might otherwise arise if the transfer does not occur. Overdraft
Feature Category of Your Account, at any time, whether or not You are in default.
protection automatically ceases if this Agreement is ever cancelled or terminated
You will, in any case, remain liable to pay any unpaid balances according to the
or Your Account is in default.
terms of Your Account.
PERIODIC STATEMENTS. On a regular basis, You will receive a statement
GOVERNING LAW. This Agreement is controlled and governed by the laws of the
showing all transactions on Your Account including amounts paid and borrowed
State of California, except to the extent that such laws are inconsistent with
since Your last statement. We will mail You a statement each month in which there
controlling federal law.
is a debit or credit balance or when a Finance Charge is imposed. We need not
send You a statement if We feel Your Account is uncollectible or if We have started
SPECIFIC TERMS APPLICABLE TO YOUR CLASSIC VISA,
collection proceedings against You because You defaulted. EACH STATEMENT IS
SECURED CLASSIC VISA, PLATINUM VISA, SECURED PLATINUM VISA,
DEEMED TO BE A CORRECT STATEMENT OF ACCOUNT UNLESS YOU
CPF VISA, AND SECURED CPF VISA CREDIT CARDS
ESTABLISH A BILLING ERROR PURSUANT TO THE FEDERAL TRUTH-IN-
LENDING ACT.
USE OF YOUR CARD. You may use Your Card to buy goods and services in any
place that it is honored and to get cash advances at participating financial
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are under
institutions. You agree not to use Your Card for illegal transactions including, but not
no obligation to honor Your Convenience Checks if: (1) by paying a Convenience
limited to, advances made for the purpose of gambling and/or wagering where such
Check, You would exceed Your Credit Limit; (2) Your Cards or Convenience Checks
practices are in violation of applicable state and/or Federal law.
have been reported lost or stolen; (3) Your Account has been cancelled or has
expired. If a postdated Convenience Check is paid and, as a result, any other
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at any
Convenience Check is returned unpaid, We are not responsible for any resulting
time without notice. You agree to surrender Your Card and to discontinue its use
loss or liability.
immediately upon Our request.
DEFAULT. You will be in default if: (a) You do not make any payment or perform
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. We will issue, upon
any obligation under this Agreement, or any other agreement that You may have
Your request, a Personal Identification Number (PIN) for use with participating
with Us; or (b) You should die, become involved in any insolvency, receivership or
Automated Teller Machines (ATMs). This PIN is confidential and should not be
custodial proceeding brought by or against You; or (c) You have made a false or
disclosed to anyone. You may use Your PIN to access Your Account and all sums
misleading statement in Your credit application and/or in Your representations to Us
advanced will be added to Your Account balance. In the event a use of Your PIN
while You owe money on Your Account; or (d) A judgment or tax lien should be filed
constitutes an Electronic Funds Transfer, the terms and conditions of Your
against You or any attachment or garnishment should be issued against any of Your
Electronic Fund Transfer Agreement may also affect Your rights.
property or rights, specifically including anyone starting an action or proceeding to
seize any of Your funds on deposit with Us; and/or (e) We should, in good faith,
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or other
believe Your ability to repay Your indebtedness hereunder is or soon will be
slips You may sign or receive when using Your Card contain terms, this Agreement
impaired, time being of the very essence.
is the contract which solely applies to all transactions involving the Card.
Upon any occurrence of default, We may, to the extent permitted by law, cancel
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your Card.
Your rights under this Agreement, require the return of all access devices and
You will not be liable for the unauthorized use that occurs after You notify Us of the
declare the entire balance of every Feature Category of Your Account immediately
loss, theft, or possible unauthorized use by calling Us at (800) 231-1626 or by
due and payable, without prior notice or demand.
writing to Us at P.O. Box 60890, Los Angeles, CA 90060. In any case, Your liability
will not exceed $50.00.
COLLECTION COSTS. In the event collection efforts are required to obtain
payment on this Account, to the extent permitted by law, You agree to pay all court
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not liable
costs, private process server fees, investigation fees or other costs incurred in
for the refusal or inability of merchants, financial institutions and others to
collection and reasonable attorneys' fees incurred in the course of collecting any
accept the Cards or Convenience Checks, or electronic terminals to honor the
amounts owed under this Agreement or in the recovery of any Collateral.
Cards or complete a Card withdrawal, or for their retention of the Cards or
Convenience Checks.
ENFORCEMENT. We do not lose Our rights under this or any related agreement if
We delay enforcing them. We can accept late payments, partial payments or any
FOREIGN TRANSACTIONS. For transactions initiated in foreign countries and
other payments, even if they are marked "paid in full" without losing any of Our
foreign currencies, the exchange rate between the transaction currency and the
rights under this Agreement. If any provision of this or any related agreement is
billing currency (U.S. dollars) will be: (a) a rate selected by VISA from the range of
determined to be unenforceable or invalid, all other provisions remain in full force
rates available in wholesale currency markets for the applicable central processing
and effect.
date, which rate may vary from the rate VISA itself receives; or (b) the government-
mandated rate in effect for the applicable central processing date. For transactions
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You move or
that are initiated in a foreign currency, You will be charged 1.00% of the final
otherwise have a change of address.
settlement amount. For transactions occurring in foreign countries and initiated in
U.S. Dollars, You will be charged 1.00% of the final settlement amount.
CHANGE IN TERMS. 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-
TRANSACTION SLIPS. Your monthly statement will identify that merchant,
In-Lending Act. To the extent permitted by law, the right to change the terms of this
electronic terminal or financial institution at which transactions were made, but
Agreement includes, but is not limited to, the right to change the periodic rate
sales, cash advance, credit or other slips cannot be returned with the statement.
applicable to Your unpaid balance and/or future advances.
LATE CHARGE. If Your payment is 15 or more days late, You will be charged the
INTEGRATED DOCUMENTS. Any separate sheet of paper labeled "Additional
lesser of: (a) $15.00; or (b) the amount of the required minimum payment.
Disclosure - Federal Truth-In-Lending Act," which is delivered together with this
Agreement or at a later date becomes an integrated part of this Agreement
RETURNED PAYMENT FEE. You will be charged the lesser of $22.00 or the
and Disclosure.
required minimum payment amount for the returned payment for any check (or other
negotiable instrument used for payment) which is returned unpaid.
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this
Agreement. By signing the application; or by using Your Account or any Account
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit Cards
access device; or by authorizing another to use Your Account, You agree to and
or Convenience Checks, You will immediately call Us at (800) 231-1626 or write to
accept its terms.
Us at P.O. Box 60890, Los Angeles, CA 90060.
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide facts
CREDITS. If a merchant who honors Your Card gives You credit for returns or
to update information contained in Your original Account application or other
adjustments, they will do so by sending Us a slip which will be posted to Your
financial information related to You, at Our request. You also agree that We may,
Account. If Your credits and payments exceed what You owe Us, We will hold and
from time to time, as We deem necessary, make inquiries pertaining to Your
apply this credit against future purchases and cash advances, or if it is $1.00 or
employment, credit standing and financial responsibility in accordance with
more refund it on Your written request or automatically deposit it to Your Share
applicable laws and regulations. You further agree that We may give information
Account after six months.
Copyright Oak Tree Business Systems, Inc., 2015. All Rights Reserved.
Page 4 of 5
OTBS 016 LAFR (12/15)
Your Billing Rights: Keep this Document for Future Use
After We finish Our investigation, one of two things will happen:
This notice tells You about Your rights and Our responsibilities under the Fair Credit
If We made a mistake: You will not have to pay the amount in question or any
Billing Act.
interest or other fees related to that amount.
If We do not believe there was a mistake: You will have to pay the amount
What To Do If You Find A Mistake On Your Statement
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
If You think there is an error on Your statement, write to Us at P.O. Box 60890, Los
then report You as delinquent if You do not pay the amount We think
Angeles, CA 90060. In Your letter, give us the following information:
You owe.
Account information: Your name and Account number.
If You receive Our explanation but still believe Your bill is wrong, You must write
Dollar amount: The dollar amount of the suspected error.
to Us within 10 days telling Us that You still refuse to pay. If You do so, We
Description of problem: If You think there is an error on Your bill, describe
cannot report You as delinquent without also reporting that You are questioning
what You believe is wrong and why You believe it is a mistake.
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
You must contact Us:
settled between Us. If We do not follow all of the rules above, You do not have to
pay the first $50.00 of the amount You question even if Your bill
Within 60 days after the error appeared on Your statement.
is correct.
At least three business days before an automated payment is scheduled, if
You want to stop payment on the amount You think is wrong.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
You must notify Us of any potential errors in writing. You may call Us, but if You do
If You are dissatisfied with the goods or services that You have purchased with Your
We are not required to investigate any potential errors and You may have to pay the
Credit Card, and You have tried in good faith to correct the problem with the
amount in question.
merchant, You may have the right not to pay the remaining amount due on the
purchase. To use this right, all of the following must be true:
What Will Happen After We Receive Your Letter
1)
The purchase must have been made in Your home state or within 100 miles of
When We receive Your letter, We must do two things:
Your current mailing address, and the purchase price must have been more
than $50.00. (Note: Neither of these are necessary if Your purchase was
1)
Within 30 days of receiving Your letter, We must tell You that We received
based on an advertisement We mailed to You, or if We own the company that
Your letter. We will also tell You if We have already corrected the error.
sold You the goods or services.)
2)
Within 90 days of receiving Your letter, We must either correct the error or
2)
You must have used Your Credit Card for the purchase. Purchases made with
explain to You why We believe the bill is correct.
cash advances from an ATM or with a check that accesses Your Credit Card
account do not qualify.
While We investigate whether or not there has been an error:
3)
You must not yet have fully paid for the purchase.
We cannot try to collect the amount in question, or report You as delinquent on
If all of the criteria above are met and You are still dissatisfied with the purchase,
that amount.
contact Us in writing at P.O. Box 60890, Los Angeles, CA 90060.
The charge in question may remain on Your statement, and We may continue
to charge You interest on that amount.
While We investigate, the same rules apply to the disputed amount as discussed
While You do not have to pay the amount in question, You are responsible for
above. After We finish Our investigation, We will tell You Our decision. At that
the remainder of Your balance.
point, if We think You owe an amount and You do not pay, We may report You as
We can apply any unpaid amount against Your Credit Limit.
delinquent.
Copyright Oak Tree Business Systems, Inc., 2015. All Rights Reserved.
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OTBS 016 LAFR (12/15)