IMPORTANT VISA AGREEMENT & DISCLOSURES  

This document explains the rules which govern your State Credit Union Visa credit card account. Please read carefully and keep in a safe and 
convenient place.  

1.  Interest will not be imposed on credit purchases of goods and services if you pay the entire new balance shown on the previous monthly 

statement within 25 days from the closing date of the statement.  

2.  There is no grace period on cash advances made on your  card. Interest will be charged from the date of the cash advance. If your 
balance is paid prior to the due date, no additional interest will be accrued in the current billing cycle. (See Balance Computation Method 

below.)  

3.  Balance Computation method for interest: We calculate the interest on your account by applying the periodic rate to the “average daily 
balance” of your account. To get the “average daily balance,” we take the beginning balance of your account each day, add any new 

purchases and cash advances, unpaid interest, current late payment fees, and other applicable fees, and subtract any payments or 

credits. Then we add up all the daily balances for the billing cycle and divide by the number of days in the billing cycle. This gives us 

the average daily balance.  

4.  Partial Grace: Partial Grace adds an additional grace period to portions of an unpaid balance in the billing period where an account 
moves  from  paid-in  full  to  revolving  status.  In  the  transition-to-revolving  billing  period,  balances  equal  to  the  amount  of  any  partial 

payment must not be included in the Average Daily Balance subject to interest. The month an account becomes revolving is the first 

month where the payment made by the payoff exception date (most frequently cycle date) is less than the statement balance owed. 

Partial Grace only applies to transactions that are subject to a grace period.  

5.  The MINIMUM monthly payment is 2.5% of the new balance or $25.00, whichever is greater.  
6.  Cardholder payments made in excess of the minimum payment due will be applied to the highest APR balance first and then, in order, 

down to the lowest APR balance.  

7.  Over-limit conditions must be cleared immediately because your account will not be allowed future approvals until your balance is below 

the approved limit.  

8.  A fee (see Fee Schedule) will be charged on any check issued for payment on your credit card if the check is dishonored and 

returned. This fee will be added to your account balance. 

9.  With your SCU Visa® card, you may obtain cash advances at any financial institution displaying the Visa logo. Cash advances are 

also available at many ATMs.  

10.  Your Visa card is issued for a 36-month period, but it can be cancelled by State Credit Union at any time if used improperly or 

payments are not made. We will notify you in writing if your account is closed due to inactivity for 18 or more months.  

11.  Credit Life Insurance is available at the member’s option. Credit Disability Insurance is also available. The charges will be added to your 

account balance each month.  

12.  You agree to notify us immediately at our credit card processor of the loss, theft, or unauthorized use of your credit card at 1-
866-583-4051 or 1-727-299-2449 if outside of the U. S.  You may be liable for the unauthorized use of your credit card. You will not 

be liable for unauthorized use that occurs after you notify us of the loss, theft, or possible unauthorized use. In any case, your liability 

will not exceed $50 for unauthorized cash advances at ATMs. You will have no liability for unauthorized purchases made with your credit 

card.  If  you  report  your  card  Lost/Stolen,  it  is  your  responsibility  to  destroy  any  remaining  cards  with  that  number.  If  you  find  the 

Lost/Stolen  card,  you  should  destroy  the  card  and  notify  the  Credit  Union  or  PSCU.  If  you  use  the  card  and  it  is  recovered  by  an 

authorized Visa merchant (because it appears on the Revoked Card List or the Visa Center tells the merchant to pick up the card), then 

you will be liable for any fees, costs or merchant awards resulting from your unauthorized use of the card.  

13.  There will be a replacement fee (see Fee Schedule) for a mutilated card or if the card is more than ninety (90) days from the scheduled 

reissue. Expired cards will be reissued without cost to you.  

14.  If you ask for a copy of a document, such as a convenience check or billing statement, a per-hour charge (see Fee Schedule) may be 
imposed for the time that is required to research and locate the document. In addition, a copying fee (see Fee Schedule) will be charged. 

No charge will be imposed in connection with any billing error.  

15.  In the event, that you receive convenience checks that access your credit card account. These checks are good for only 90 days. Please 
note: Convenience Checks will be treated as Cash Advances.  Interest is charged on cash advances beginning on the transaction 

date. If you are over your credit limit, are in default, your account privileges have been cancelled, or your card expired, we may decline 

to honor a convenience check and a fee (see Fee Schedule) will be added to your account balance. Convenience checks may be used 

only by the person whose name is printed on them. You may not use convenience checks to pay any amount which you owe SCU. Paid 

1  

 
 
 
IMPORTANT VISA AGREEMENT & DISCLOSURES  

convenience checks will not be returned to you. There is a fee (see Fee Schedule) when you stop payment on a convenience check. It 

is the Credit Union’s sole discretion to issue convenience checks to any member.  

16.  If you incur a charge (a Purchase or Cash Advance) in a foreign currency, the charge will be converted into a U.S. dollar amount in 
accordance with the operating regulations of Visa international in effect at the time that the transaction is processed. Currently, these 

Regulations provide that the currency conversion rate to be used is either: (a) a wholesale market rate; or (b) a government-mandated 

rate in effect one day prior to the processing date, increased by one percent in each case. Visa retains this one percent as compensation 

for performing the currency conversion service.  The Credit Union reserves the right to charge a fee for this service with appropriate 

legal notice. The currency conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or 

the posting date.  

17.  Your Visa card may not be used for any illegal transaction, such as unlawful gambling.  
18.  The Credit Union may change the terms of this Agreement, including the Annual Percentage Rate, with 45 days written notice. Except 
where limited by applicable law, the new terms, including but not limited to, the way the Credit Union calculates interest, and the minimum 
payment due, will apply to both new purchases and cash advances and to the existing outstanding balance of your account as of the 
day of the change. In accordance with applicable law, the Credit Union will notify you of any increased charge. However, if the APR 
changes, the new APR will apply only to new purchases and cash advances. If you receive notification of an increase in the APR or 
other “significant change” in terms, you will have the right to cancel before the effective date of the increase or change in order for your 
account to remain under the same terms and conditions. Your minimum payment requirement would remain the same.  

19.  The use of your card confirms agreement to the Visa terms and conditions as well as the terms outlined herein. Complete disclosures, 
terms and conditions will be provided to you. Please read all terms and conditions prior to use of your card. If you do not agree with the 
terms and conditions provided, contact the SCU Visa Department in writing (mail or fax) immediately to cancel the account.  

20.  BILLING RIGHTS  

In Case of Errors or Inquiries 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 of paper at 

the address indicated below as soon as possible. We must hear from you no later than 60 days after we sent you the first 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 

unsure about.  

You do not have to pay any amount in question while we are investigating, but you are still obligated to pay the parts of your bill that are 
not in question. While we investigate your question, we cannot report you as delinquent or take any action to collect the amount you 
question.  

If you have a problem with the quality of goods 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 not have to pay the remaining amount due on the goods or services. You have this 
protection only when the purchase price was more than $50.00 and the purchase was made in your home state or within 100 miles of 
your mailing address. (If we own or operate the merchant, or if we mailed you the advertisement for the property or services, all purchases 
are covered regardless of amount or location of purchase.)  

Send Inquiries to:  

S.C. State Federal Credit Union  
Visa Department  
P.O. Box 726  
Columbia, S.C. 29202  

21.  If your account goes past due, no further approvals or advances will be made until your account is current. A chronic past-due condition 
will cause your credit card to be revoked. A late fee (see Fee Schedule) will be assessed if the account becomes 15 days delinquent 

from the date of the due date. Payments must be received by 5:00 p.m. EST in order to insure credit for that day.  

22.  If your account goes past due sixty (60) days, the card may be cancelled. However, the Credit Union may reinstate your card, provided 
your account is brought up to date and is given reasonable assurance it will not become past due again. Any future recurrence will cause 

an automatic cancellation. The Credit Union may demand payment in full upon written notice to the cardholder, on any delinquent or 

cancelled account.   

2  

 
 
 
 
 
 
IMPORTANT VISA AGREEMENT & DISCLOSURES  

23.  Your monthly statement is your bill. You are required to immediately notify the Credit Union in writing if your name and/or home address 

changes. Your due date will remain the same each month.  

24.  Your performance under this agreement may be reported to Credit Reporting Agencies. Protect your credit rating by paying promptly.  

25.  You may close your account at any time by notifying us in writing and returning your card or cards, cut in half. You will remain responsible 

for payment of the amount owed to the Credit Union according to the terms and conditions in effect at the time you close your account.  

26.  Keep your copy of transaction slips. Checking your copies against your monthly statement can help you guard against incorrect charges 

and fraudulent vendors.  

27.  Be careful about placing orders by telephone, mail or internet. Satisfy yourself that the company is a reputable firm.  

28.  Do not carry cards that are used infrequently, but store in a secure manner where no one else has access to them.  

29.  Sign all new cards immediately after receiving them.  

30.  Insist that any duplicate transaction slips made through error be destroyed. It is also a good idea to have any carbon papers destroyed 

as well.  

31.  The  Credit  Union  currently  offers  a  Rewards  Program.  SCU  reserves  the  right  to  make  changes  in  the  Rewards  program  and/or 
redemptions without notice; and may cancel the program with 15 days’ notice, after which the Credit Union shall have no obligations 

under the program, or the rewards cancelled. 

32.  SKIP PAYMENT OPTION: At our discretion, we may offer you the opportunity to not make ("skip") a minimum payment during certain 
designated billing cycles ("skip payment period").  If you do not make your minimum payments as provided in this Agreement, during 

such designated billing cycles, you understand that we will continue to apply finance charges to your account. Beginning with the billing 

cycle following an allowed skip payment period, all other provisions of this Agreement will apply.  We have no obligation to accept your 

application for any skip payment period offered, and you authorize us to investigate your creditworthiness including obtaining consumer 

credit reports. We may charge you an application processing fee of up to $20.00, which will be reflected on your next statement should 

you  choose  not  to  pay  the  fee  outright,  for  each  skip  payment  period  that  we  may  offer  to  cover  our  costs  of  investigating  your 

qualifications for this extension including but not limited to the costs associated with researching your creditworthiness.  

Visa Terms & Conditions 

The person (“Cardholder”) whose name is embossed on the face of the Visa card (“Card”) applied for and was issued, and each Cardholder, in 

the  event  more  than  one  Card  is  enclosed  herewith  bearing  the  same  account  number,  by  signing  or  using  said  Card,  receipt  of  which  is 

acknowledged, agrees with the issuer of the Card, SC State Federal Credit Union (SCU) as follows:  

1.  Goods and services (“Credit Purchases”) may be purchased or leased by means of such card by Cardholder from any retail business 
establishment (“Seller”) who honors same upon the execution of a sales slip evidencing such Credit Purchase and bearing the account 

number of Cardholder embossed on the face of such Card. Additionally, Visa Cash Advance (“Loans”) may be obtained through use of 

such Card (a) upon execution of a written request of Cardholder in a form furnished to him/her from any bank that is a member, alone 

or in association with others, of Visa Inc. and (b) upon execution of a written separate agreement with issuer for a Visa overdraft financing 

agreement, if offered by issuer. Up to 20 authorizations may be granted per day.  

2.  Cardholder shall be liable and agrees to pay issuer for Credit Purchases made by, or for Loans extended to, Cardholder or anyone else 
using such Card unless the use of such Card is by a person other than the Cardholder (a) who does not have actual, implied or apparent 

authority for such use, and (b) from which Cardholder receives no benefit.  

3.  Additionally, Cardholder shall be jointly and severally liable and agrees to pay for all Credit Purchases and Loans obtained through the 
use of any other Card for Cardholder’s account number that has been issued to another person by reason of such person being a 

member of Cardholder’s family, or otherwise issued upon Cardholder’s request (all such Cards issued for the Cardholder’s account 

hereinafter collectively called “Related Cards”).  Further, if you authorize us to honor any Purchase or Cash Advance you make  by 

telephone, mail, or internet on this account, you agree that a signature is not necessary as identification in such cases.  

3  

 
 
 
  
  
  
  
  
 
  
IMPORTANT VISA AGREEMENT & DISCLOSURES  

4.  Each  Card  is  the  property  of  issuer,  is  not  transferrable  and  must  be  surrendered  upon  demand.  It  can  be  cancelled  as  well  as 

repossessed by Issuer or its designee, and the privileges thereof revoked at any time without prior notice.  

5.  Cardholder shall not use Card or permit the use of Related Cards to obtain Credit Purchases or Loans which will increase Cardholder’s 

Visa indebtedness to Issuer to an amount in excess of the limit established by Issuer.  

6.  All Credit Purchases and Loans are affected at the option of the Seller and Cash Advancing Bank, respectively, and Issuer shall not be 
responsible for refusal by any Seller or Cash Advancing Bank to honor the Card or any Related Card. Any refund, adjustment or credit 

allowed by Seller shall not be by cash but rather by a credit advice to Issuer which shall be shown as a credit on Cardholder’s account 

statement with Issuer.  

7. 

Issuer will send to Cardholder, at monthly intervals determined by Issuer, a statement reflecting for the prior monthly period all Visa Card 

and Related Card transactions. Such statement shall be deemed correct and accepted by Cardholder and all holders of Related Cards 

unless Issuer is notified to the contrary in writing within 60 days of mailing of such statement. Cardholder will pay such statement by 

remitting to Issuer within 25 days of the closing date reflected on the statement either the full amount billed or, at Cardholder’s option, 

an Installment equal to at least the required minimum payment stated in Paragraph 4 of the Disclosures.  

8. 

9. 

Interest on Loans and Credit Purchases will be charged in accordance with the interest calculation method referred to in Paragraph 3 of 

the Disclosures. The rate of interest shall be established by Issuer.  

If the Card is cancelled or surrender is demanded by Issuer, or if Cardholder defaults in any payment due, or is deceased, bankrupt or 

insolvent, or any attachment or garnishment proceedings are initiated against Cardholder or his/her property, Issuer may elect to declare 

all amounts then owed to Issuer to be immediately due and payable without notice or demand of any kind. If Cardholder has other loans 

from Issuer or takes out other loans with Issuer in the future, collateral securing those loans will also secure the Cardholder’s obligation 

under this agreement. However, unless the Cardholder expressly agrees otherwise, the Cardholder’s primary dwelling will not secure 

Cardholder’s obligations under this agreement even if Issuer has or later acquires a mortgage on the dwelling. Cardholder agrees to 

pay all costs incurred by Issuer in collecting Cardholder’s indebtedness or in enforcing this agreement, including attorney’s fees of 10% 

of  the  unpaid  balance  or  such  greater  amount  as  may  be  reasonable  and  just  and  also  those  costs,  expenses  and  attorney’s  fees 

incurred in appellate, bankruptcy and post judgments proceedings except to the extent such costs, fees or expenses are prohibited by 

law.  

10.  The validity, construction and enforcement of this agreement and all matters arising out of the issuance and use of the Card shall be 

governed by Federal law.  

IF YOU HAVE ANY QUESTIONS  

 During business hours, you may call SCU at 1-800-868-8740, extension 8401.  

Address of Issuer:  

PO Box 726 
Columbia, SC 29202 
Fax: 803-978-1037 

If you have any questions concerning your account after hours or on the weekend, you may contact, the PSCU Service Center by calling the 

following toll-free number, 1-866-583-4051.  

 At all times, if your card is lost or stolen, please contact the following toll-free number: 1-866-583-4051 or 1-727-299-2449 outside the 
US.   

PAYMENT ADDRESS: 
State Credit Union  
PO Box 71050  
Charlotte, NC 28272-1050 

PLEASE CONTINUE TO NEXT PAGE FOR COST INFORMATION.    

4  

 
 
 
  
 
 
 
   
IMPORTANT VISA AGREEMENT & DISCLOSURES  

Visa Credit Card Cost Information  

Interest Rates and Interest 
Charges  
Annual Percentage Rate 
(APR) for Purchases  

APR for Balance Transfers  

Platinum: 8.9% Gold: 10.9% Classic & Secured: 15.9%  
Platinum:  8.9% Gold: 10.9% Classic & Secured: 15.9%  

APR for Cash Advances  

Platinum:  8.9% Gold: 10.9% Classic & Secured: 15.9%  

Penalty APR and When It 
Applies  
  How  to  Avoid  Paying 
Interest on Purchases  

Minimum Interest Charge  

Your rate is based on individual creditworthiness and our underwriting 
standards.  
None  

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 
cash advances, including convenience checks, on the transaction date.  
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://consumerfinance.gov/learnmore  

Fees  
Annual Fee  
Transaction Fees  

None  

•  Balance Transfer  
•  Cash Advance  
•  Foreign Transaction  
•  Verified by Visa Password 

None  
None  
None  
1 free per year; $5 each additional  

Reset 

•  Statement Copy Fee  
•  Lost/Damaged Card 

Replacement  
•  Stop Payment on 

Convenience Check  

Penalty Fees  

•  Late Payment  
•  Over-the-Credit Limit  
•  Returned Payment  
•  Returned Convenience 

Check 

$5 per statement  
$10 per card  

$25 per check  

  Up to $25 

None; Over-the-Credit Limit transactions not allowed 
Up to $25 

  $25 per check 

How We Will Calculate Your Balance: We use a method called “average daily balance (including new purchases or 
advances).” Billing Rights: Information on your rights to dispute transactions and how to exercise those rights is provided 
in your account agreement.  
The credit union will acquire a security interest in the property purchased with your credit card; and collateral securing 
other loans with us may also secure this account. Also, you are giving us a security interest in your shares and other 
deposits in the credit union. The information about the costs of the card described in this application is accurate as of 
December 7, 2021. This information may have changed after that date. To find out what may have changed, call us at 
803-343-0300 or 1-800-868-8740, or write us at: State Credit Union, PO Box 726, Columbia, SC 29202, or visit 
www.scscu.com. Please refer to the Truth & Savings Rate & Fee Schedule for other fees that may apply.  

Rev 12/2021  

5