Share Secured Visa Credit Card Agreement          

Interest Rates and Interest Charges 

ANNUAL PERCENTAGE RATE 
(APR) for Purchases 

APR for Balance Transfers 

APR for Cash Advances 

How to avoid paying interest on 
charges 

For Credit Card Tips from the 
Federal Reserve Board 

10.99% when you open 
your accounts, based on your 
credit worthiness.  
10.99% 
10.99% 
After that, your APR will vary 
with the market based on the 
Prime Rate. 

Your due date is at least 25 
days after the close of each 
billing cycle.  We will not charge 
you interest on purchases if you 
pay your entire balance by the 
due date each month. 
To learn more about facts to 
consider when applying for or 
using a credit card, visit the 
website of the Federal Reserve 
Board at 
http://www.federalreserve.gov
/creditcard 

Annual Fee 

Transaction Fees 
  Balance Transfer 
  Cash Advance 
 

Foreign Transaction 

Penalty Fees 
 
Late Payment 
  Returned Payment 

Fees 

None 

None 
None 
Up to 1% of the amount of the 
transaction in US dollars 

Up to $25.00  
Up to $15.00 

How We Will Calculate Your Balance: We use a method called “average daily balance 
(including new purchases)”. 

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

Variable APRs Based on Prime. If any APR is based on U.S. Prime Rate (“Prime Rate”), the 
APR will be equal the Prime Rate plus an additional amount. If Prime Rate increases, it will 
cause the APR to increase. If the Prime Rate decreases, it will cause the APR to decrease. For 
each Billing Period we use the Prime Rate published in the Wall Street Journal on the last day 
of each calendar month of each year. If Prime Rate causes an APR to change, we put the new 
APR into effect as of the first day of the billing period for which we calculate the APR. We apply 

        
 
 
 
 
 
 
 
 
 
 
 
the new APR to any existing balances, subject to any promotional rate that may apply. If the 
Wall Street Journal does not publish the Prime Rate, we will use a similar published rate. The 
maximum APR will not exceed 24%. 

APR for Purchases: It equals the prime rate plus 7.74% depending on your credit worthiness. 

APR for Cash Advances: It equals the prime rate plus 7.74% depending on your credit 
worthiness. 

Effect of APR Increases: If an APR Increases, interest charges increase 

Share Secured Credit Card Agreement 
In this agreement, the words “you” and “your” mean each person who has signed the application 
for the card. “Card” means the SECU VISA Platinum Credit Card, SECU VISA Platinum 
ScoreCard™ Credit Card, or the SECU VISA Student Credit Card, as the case may be, and any 
duplicates and renewals we issue. “Account” means your VISA Credit Card line of Credit 
account with us. “We”, “us” and “ours” mean State Employees Credit Union of Maryland, 
Incorporated (SECU). 

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 card account. For example, you are 
responsible for charges made by yourself, authorized users you designate, 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 
in writing and 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. Each of you who has 
signed the application is individually and jointly obligated for all payments due under this 
agreement. You agree to use this Account only for personal, family, household or charitable 
purchases. You will not use this Account for any illegal transactions. 
2. LOST CARD NOTIFICATION: If you believe your card, convenience checks and/or Personal 
Identification Number (PIN) has been lost or stolen, you will immediately call us at 410-487-
7328 or 1-800-879-7328, Monday through Friday, 8:30 a.m. to 5:00 p.m. During evenings, 
weekends and holidays, call 1-800-299-9842. 
3. LIABILITY FOR UNAUTHORIZED USERS: You understand you will not be liable to SECU 
for any card transactions resulting from the loss, theft or other unauthorized use of the card that 
occurs prior to the time you notify SECU in accordance with Federal Law. 
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 limit by the amount of the payment applied to principal. You may request an 
increase in the amount of your credit line by written application or oral communication to us. It 
must be approved by our loan office. We may increase the amount of your credit line at our 
option. 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 the agreement, or our adverse re-evaluation of your credit worthiness. You may 
also terminate this agreement at any time, but termination by either of 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 and any unused transfer and/or convenience checks 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 to the 
extent authorized in our bylaws. 
6. MONTHLY PAYMENT: We will mail you a statement every month showing your previous 
balance of purchases and cash advances, the current transactions to 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 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 pay more frequently, pay more than the minimum 
payment required 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) 2.5% of your total new balance or $20, whichever is greater; or 
(b) Your total new balance if it is less than $20 plus any portion of the minimum payment shown 
on prior statements that 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 balances with the highest 
annual percentage rate and any remaining portion to other balances in descending order based 
on the applicable annual percentage rate. However, if you pay by check, the amount of your 
payment may not be applied to your available credit line for such period of time as we 
reasonably determine is necessary to ensure that your check is honored. We may also allow 
you to skip a payment. If we do, we will notify you in advance of this option. If you choose to 
skip a payment when offered, we will continue to assess FINANCE CHARGES. You agree to 
pay us in U.S. dollars drawn on funds on deposit in the United States using a payment check, 
similar instrument, or automatic debit that will be processed and honored by your financial 
institution. We reserve the right to accept payments made in foreign currency. If we do, we will 
select the currency conversion rate at our discretion. 
7. IRREGULAR PAYMENTS: We reserve the right to accept late payments or check and 
money orders marked “payment in full” without any prejudice to our rights under this agreement.  
If a check is presented for payment before the date you write on the check or the check is not 
dated, SECU has the right to process the check for payment or return it unpaid. You will hold 
SECU harmless for any action in payment or non-payment of the check. 
8. FINANCE CHARGES: 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. If you do not pay the total new balance for purchases by the due date, FINANCE 
CHARGES will be imposed on the unpaid purchase balance from the first date of the last billing 
cycle and on new purchases from the day they are posted to your account. For cash advances 
and balance transfers, FINANCE CHARGES will begin to accrue from the date of the 
transaction and continue to accrue until payment in full is credited to your account. Separate 
average or daily balances are calculated for purchases and cash advances. The FINANCE 
CHARGE is calculated by multiplying the average daily balances by a monthly periodic rate of 
0.87 which is an ANNUAL PERCENTAGE RATE of 10.49%. To get the "average daily balance" 
for purchases we take the beginning balance of your account each day, add any new 
purchases, and subtract any payments or credits, and unpaid finance charges. This gives us the 
daily balance. Then, we add up all the daily balances for the billing cycle  and divide the total by 
the number of days in the billing cycle. This gives us the "average daily balance." To get the 
daily balance for cash advances, new cash advances are added to the day’s beginning balance 
and payments and credits are subtracted. Fees are not included in the calculation of the 
average daily balance. FINANCE CHARGES will continue to accrue on your account until what 
you owe under this agreement is paid in full.  
9. LATE CHARGE: In addition to the continued accrual of the FINANCE CHARGE at the daily 
periodic rate, if you fail to pay at least the minimum payment within 15 days after it is due, we 
may assess a late charge up to $25.00 for each delinquent payment. 
10. THE CONDITIONS UNDER WHICH ANY OTHER CHARGES MAY BE IMPOSED: These 
charges will be added to your purchase balance: 
(a) DISHONORED CHECK - A $15.00 fee may be imposed if payment is made with a check 
that is dishonored on the second presentment. 
(b) RESEARCH CHARGE - A $6.00 fee will be charged to your account if you request a copy of 
a sales’ or cash advance draft that is not part of a chargeback or fraud claim. This fee will also 
apply to each statement request. 
(c) ADDITIONAL CARDS - We will issue up to four (4) cards at no cost. Rush requests are 
$25.00 per request. 

11. DEFAULT: You will be in default if you fail to make a minimum payment within 25 days after 
your monthly statement closing date. You will be in default if you break any promise you made 
or any security agreement made in connection with an advance. You will be in default if you die, 
file for bankruptcy, or become insolvent, that is, unable to pay your obligations when they 
become due. You will be in default if you make any false or misleading statements in any credit 
application or update of credit information. You will also be in default if something happens that 
SECU believes may substantially reduce your ability to repay what you owe. When you are in 
default SECU can demand immediate payment of the entire amount you owe without giving you 
advance notice. You will also be required to pay our collection expenses, including court costs 
and an additional sum equal to 20% of the aggregate of the principal and interest due if your 
account is referred to an attorney at law or to a collection agency for collection. You authorize 
us to submit payroll deduction requests, when available, from your wages, salary or pension to 
the State of Maryland or other employee agency for any amounts in default without additional 
authorization. 
12. DELAY IN ENFORCEMENT: We can delay enforcing any right under this Agreement 
without losing that right or any other right. 
13. SEVERABILITY: If any provision of this Agreement is held invalid, all provisions that are 
severable from the invalid provision remain in effect. 
14. ACCESSING THE ACCOUNT: To make a purchase or cash advance there are three 
alternatives: 
(a) Present the card to a participating VISA® plan merchant, to us or to another financial 
institution. Then sign the sales or cash advance draft that has been imprinted with your card 
information. 
(b) Complete the transaction by using your Personal Identification Number (PIN) in conjunction 
with the card in an Automated Teller Machine (ATM) or other type of electronic terminal that 
provides access to the VISA system. 
(c) Issue a convenience check for the payment of goods, services or cash. Sales, cash advance 
checks, 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 to verify the monthly statement. State 
Employees Credit Union of Maryland, Inc. (SECU) may charge a reasonable fee for photocopies 
of slips you request. 
15. CARD RENEWAL: Cards are issued with an expiration date. We have the right 
not to renew your card for any reason. 
16. 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 
and cash advances, or if $1.00 or more, refund it on your written request or automatically 
after 6 months. 
17. FOREIGN TRANSACTIONS: Purchases and cash advances made in foreign countries and 
foreign currencies will be billed to you in U.S. dollars. Up to a 1% International Transaction Fee 
will be assessed on all transactions where the merchant country differs from the country of the 
card issuer. The converted transaction will be shown separately from the international 
Transaction Fee on your billing statement. This fee will be assessed on all international 
purchases, credit vouchers, and cash disbursements. The exchange rate for transactions in 
foreign currency will be a rate selected by Visa from the range of rates available in 
wholesale currency markets for the applicable central processing date, which rate may 
vary from the rate Visa itself receives, or the government mandated rate in effect for the 
applicable central processing date plus up to a 1% International Transaction Fee. 
18. 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 claims and defenses 
(other than tort claims) as set forth herein under, “Special Rules For Credit Card Purchases.” 
You must resolve any other disputes directly with the plan merchant. We may limit the dollar 
amount and/or the number of transactions which may be approved in one day. If we detect 
unusual or suspicious activity on your account, we may temporarily suspend your credit 

privileges until we can verify the activity. We may approve transactions which cause the balance 
to exceed your credit line without waiving any of our rights to this Agreement. 
19. SECURITY INTEREST: You give the share and deposit accounts listed herein as Security 
for this Agreement. By signing the Security Agreement attached hereto and incorporated herein 
by reference, you give us a security interest called a pledge in all shares and deposits shown on 
the Security Agreement. If you are in default, we can take money from your shares or deposits 
to make any payments that are past due as well as any late charges. 

You have a given Consensual Security Interest, incorporated by reference herein, in your 
SECU Savings or Money Manager account, as security for any advances to you or on 
your behalf on any SECU VISA® Credit Card, excepting those accounts that have an 
adverse tax consequence. 

20. CASH ADVANCES: Cash advances can be obtained through an ATM, convenience 
checks, SECU branches and other financial institutions. Upon your written direction, or through 
SECU’s website, cash advances, including ATM, transfer and convenience checks, may be 
made against your VISA account and applied to any of your SECU accounts, or other accounts 
in the same manner as if the cash advance were paid to you. Deposit of the cash advance to 
any of your SECU accounts obligates you to repayment of the cash advance per the terms of 
this Agreement. 
21. BALANCE TRANSFER(S): Balance Transfers are treated as a cash advance. Finance 
charges for balance transfers will begin to accrue from date of the transaction and continue to 
accrue until payment in full is credited to your account. Total value of transfer request(s) cannot 
exceed credit line and/or credit availability whichever is less. SECU sends either full or partial 
payment to your creditors in the order you list them. Allow at least 2 weeks from request date for 
processing of the balance transfer. Continue paying each creditor until the transfer appears as a 
credit. Do not transfer any disputed purchase or other charge because you may lose your 
dispute right. 
22. EFFECT OF AGREEMENT: This Agreement is the contract that 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 
the advance written notice required by Federal and State law. Your use of the card thereafter 
will indicate your agreement to the amendments.   
23. GOVERNING LAW: This Agreement is governed by the Annotated Code of Maryland, 
Financial Institutions Article, Title 6 and the Annotated Code of Maryland, Commercial Law 
Article, Title 12, Subtitle 9 and applicable federal law or regulation. 
24. VISA STATEMENTS AND NOTICES: On a regular basis, you will receive a statement 
showing all transactions for this account during the period covered by the statement. 
Statements and notices will be mailed to you at the most recent address you have given SECU 
in writing. Notice to any one of you will be notice to all. 
25. UPDATING INFORMATION: You promise that you will promptly give SECU written notice if 
you move, change your name or employment, or if any other information you provide to SECU 
changes. You also agree to provide SECU with updated financial information about yourself 
upon request. 
26. COPY RECEIVED: By signing, using or accepting the SECU VISA card, you acknowledge 
receipt of this Agreement and agree to the terms herein. 
27. STOP PAYMENT: If before a Transfer or Convenience Check drawn on your Account has 
been honored, you notify us not to pay it, we will stop payment on the check. You must send us 
a written and signed stop payment order which states the number, payee, amount and date of 
the check on which payment is to be stopped. We may disregard any such order six months 
after our receipt unless you renew it in writing. 
28. CLOSING YOUR ACCOUNT: You can cancel or close your Account by writing to us at 
SECU, 971 Corporate Blvd., Linthicum, MD 21090. Your notice becomes effective within five 
days after we receive it. If you cancel your Account, you must pay everything you owe us, 
including any amounts owed but not yet billed to you. If you do not pay us immediately, 
outstanding balances will continue to accrue FINANCE CHARGES and other charges and be 

 
 
subject to the terms and conditions of this Agreement. You also agree to return your card(s) and 
any unused Transfer and/or Convenience Checks to us. 

YOUR BILLING RIGHTS KEEP THIS NOTICE FOR FUTURE USE 
This notice contains important information about your rights and responsibilities under the Fair 
Credit Billing Act. 

NOTIFY US IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR STATEMENT 
If you think your VISA statement is wrong, or if you need more information about a transaction 
on your statement, write us on a separate sheet at SECU, 971 Corporate Blvd., Linthicum, MD 
21090. 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 at 
410-487-7328 (Baltimore Metro Area) or (Toll Free) 1-800-879-7328, but doing so will not 
preserve your rights. 
In your letter, give us the following information: 
1. Your name and account number. 
2. The dollar amount of the suspected error. 
3. 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. 

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 and we 
cannot 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 the 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 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 that it is due. If you fail to pay 
the amount that we think you owe, we may report you as delinquent. 
We must tell you the name of anyone we reported you to, and, we must tell anyone we report 
you to that the matter has been settled between us when it finally is. However, if our explanation 
does not satisfy you and you write to us within ten (10) days telling us that you still refuse to 
pay, we must tell anyone we report you to that you have a question about your account. 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 RULES FOR CREDIT CARD PURCHASES 
If you have a problem with the quality of property or services that you purchased with your credit 
card, and you have tried in good faith to correct the problem with the merchant, you may have 
the right not to pay the remaining amount due on the 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 must have been more than $50. 
These limitations do not apply if we own or operate the merchant, or if we mailed you the 
advertisement for the property or services. 

BUSINESS DAYS/HOURS 
Business days are Monday through Friday from 8:00 a.m. to 6:00 p.m. and Saturday from 9 
a.m. to 1 p.m. 

 
 
 
 
 
 
TYPES OF AVAILABLE TRANSFERS AND LIMITS ON TRANSFERS 
You may use your card to: 
a. Pay for purchases at places that have agreed to accept the card. 
b. Obtain cash advances from our ATMs in conjunction with your PIN or at any ATM displaying 
the VISA logo. 
c. Obtain cash advances from any financial institution that has agreed to accept the card. 
There  is  no  limitation  on  the  frequency  of  cash  withdrawals  you  may  make  from  our  ATMs 
except that: 
a. You may not make any cash withdrawals that would result in an outstanding account balance 
in excess of your credit limit, and 
b. You may only make a total of $300 in cash advance withdrawals per day. 
You may withdraw a minimum of $10 and a maximum of $300 per day from our ATMs each time 
you use your card and PIN, subject to a and b above. 

CIRCUMSTANCES IN WHICH WE WILL DISCLOSE ACCOUNT INFORMATION TO THIRD 
PARTIES 
We will disclose information to third parties about your account or the transfers that you make: 
a. When it is necessary for completing transfers, or 
b. To verify the existence and condition of your account for a third party, such as a credit bureau 
or merchant, or 
c. To comply with the government agency or court orders, or 
d. If you give us your written permission. 

YOUR RIGHT TO RECEIVE DOCUMENTATION OF TRANSACTIONS 
You can get a receipt at the time you make any cash advance using one of our automated teller 
machines. You will get a monthly account statement unless there are no transactions in a 
particular month and your balance is zero, unless there are changes to the agreement. 

Pledge of Shares and Deposits (Savings) and Security Agreement 
By signing below, you pledge to State Employees Credit Union of Maryland (SECU), 
Incorporated and grant a security interest in the SECU accounts listed below, to secure your 
credit card account, in which you have full or joint ownership, to secure your SECU VISA 
account. You authorize SECU to apply any Share balance on which you are an authorized 
owner, to pay any amount due under this Agreement if in default. You further understand that 
your VISA limit is established by the available unencumbered shares in your accounts, listed 
below, to secure your credit card account. Once pledged as collateral, these shares are 
permanently restricted, thus unavailable for withdrawal. By signing below, you pledge to us and 
grant a security interest in all individual and joint accounts, listed below, to secure your credit 
card account. You authorize us to apply the balance in these account(s) to pay any amounts 
due under this Agreement, if you should default. 

Acct. No. _____________________________Current Balance $_______________. 
Acct. No._____________________________ Current Balance $_______________ . 
Acct. No. _____________________________Current Balance $_______________ . 
Witness our hand(s) and seal(s): 
____________________________________(SEAL)_________________________ . 
Signature of Account Owner   

 Date 

____________________________________(SEAL)_________________________ . 
Signature of Account Owner   

 Date 

Revision 4/11