Please read this information carefully.  This is your copy of the VISA Platinum Credit Card Agreement  
 and Regulation “Z” Disclosures made pursuant to the Truth in Lending Act.

Introduction.  This Agreement covers this VISA Platinum Credit Card issued by iQ Credit Union 
1.  
(“Lender”).  In this Agreement the words “you,” “your,” “yours,” “applicant,” and “Borrowers” mean 
any person who signs the application for this Account, any joint obligor, guarantor, authorized user, or 
the person whose name is embossed on the Card.  The words “we,” “us,” “our,” and “Lender” means 
iQ Credit Union.  The word “Card” means any one or more credit cards issued under this Account.  
If you sign an application for this Account or sign or use any Card or PIN, or allow others to use the 
Card or PIN, you and they will have accepted this Agreement just as if you and they signed it, and you 
and they, jointly and severally, will be bound by the following terms and conditions which will govern 
this Account.

You Promise to Pay.  You promise to pay us in United States dollars, by cash, check or money 
2. 
order as provided in this Agreement, all such amounts, plus Interest Charges, which arise from use 
of the Card or Account by you or any other person, and to be jointly and severally liable with such a 
person, unless such other person does not have actual, implied, or apparent authority for such use, 
and you received no benefit from the use. This includes any loan requests for credit card purchases, 
payments to a third party, or for deposit to a deposit, share, or share draft account of yours, or any 
co-applicant at the Credit Union.  You agree to pay advances requested by any co-applicant the same 
as if you asked for the loan and it was paid to you.

Purchases and Cash Advances.  You must sign the Card to use it.  Once you have signed 
3. 
the Card, you can use it to buy or lease goods or services, wherever the Card is honored, up to the 
full amount of your credit line.  You also may use your Account and Card to get cash advances from 
us or participating financial institutions.  You may use your Card and Personal Identification Number 
(“PIN”) to obtain cash advances at automated teller machines (“ATMs”) designated with the VISA or 
Plus System networks.  The periodic statement will identify the merchant or financial institution at 
which transactions were made, but sales, cash advances, credit or other slips cannot be returned with 
the statement.  We may impose a reasonable charge for photocopies of slips you may request.

Convenience Checks.  If we approve, you may obtain advances under your Account by writing 
4. 
preprinted loan drafts (“convenience checks”) that we supply to you.  Your use of convenience checks 
will be shown as credit advances on your periodic statement.  We may not honor the convenience 
check if it is postdated, payment of the check will exceed your credit limit, a convenience check is 
signed by a person without authorized access, the amount of the check is less than the minimum 
required amount, your Account has been terminated or suspended, or any convenience checks have 
been reported lost or stolen.  You may stop payment on a convenience check if you provide us with 
the exact information describing the convenience check.  If you give us incorrect information, we will 
not be responsible for failing to stop payment.  You understand there may be a charge for convenience 
check printing and charges for stop payment requests, returned items, check copies, and other fees 
or costs we incur in handling your convenience checks.  Our liability for a wrongful dishonor is limited 
to your actual losses; however, a dishonor for the reasons stated above is not a wrongful dishonor.

5. 

Rebate  Program.   You  may  earn  a  1.00%  cash  rebate  on  your Account  if  you  meet  the 
following requirements:

a.  Cash  Rebate  on  Net  Purchases. You  may  earn  a  .50%  cash  rebate  on  net  purchases 
(purchases less returns for credit) made during a rebate period in which the net purchases 
posted  to  your Account  total  $2,500  or  more.  Cash  advance  transactions,  including  
convenience checks and balance transfers, do not qualify for the cash rebate. The cash 
rebate will be calculated on cumulative net purchases posted to your Account for the prior  
rebate period. To illustrate, let us assume that during the first rebate period of the year 
(January - March) your total net purchases equal $3,500. In this example, we would multiply 
$3,500 by .50%, which would equal a cash rebate of $17.50.

b.  Cash  Rebate  on Average  Daily  Balance.   You  may  earn  a  .50%  cash  rebate  on  the 
average  daily  balance  in  your  Account  if  you  maintain  an  average  daily  balance  of 
$4,000  during  a  rebate  period. The  cash  rebate  will  be  calculated  each  quarter  based 
on  the  average  daily  balance  in  your Account  for  the  prior  rebate  period.  For  example, 
if  the  average  daily  balance  in  your Account  during  the  first  rebate  period  of  the  year  
(January - March) was $5,800, we would multiply $5,800 by .50%; which would equal a 
cash rebate of $29.00.

There are four rebate periods in each calendar year: January 1 through March 31, April 1 through 
June 30, July 1 through September 30, and October 1 through December 31. The cash rebate for 
the prior rebate period will be credited to your checking or savings account by the 15th day of the 
month following the end of the prior rebate period. The maximum cash rebate you can earn on your 
Account is $300 per quarter, inclusive of cash rebates for net purchases and average daily balances. 
Your Account must remain open and in good standing in order to receive the cash rebate.  If at any 
time your Account is assessed a late fee, is closed or is in default, you will forfeit all cash rebates 
accrued through the calendar quarter in which your Account was closed, or the delinquency or default 
occurred.  The terms and conditions of this rebate program may be changed or cancelled at any time 
and for any reason without notice.

6.  Minimum Periodic Payment.  Minimum payment will be the greater of $25 or 3% of any new 
balance, rounded to the nearest dollar, plus the greater of any amount past due or any amount in excess 
of your credit limit. Payments received at the mailing address shown on your statement on any business 
day by 5:00 P.M. Pacific Time will be credited to your Account as of that date; payments received by mail 
at that address after 5:00 P.M. Pacific Time, or on a weekend or federal holiday will be posted to your 
Account as of the next business day. Payment crediting to your Account may be delayed up to five (5) days 
if your payment is received by mail at any other address or not accompanied by the remittance portion of 
your Account statement.

Periodic Statements.  If, at the end of any monthly periodic interval which we may determine the 
7. 
“Billing Cycle,” you have an outstanding undisputed debit or credit balance in your Account, or if there is 
any Interest Charge imposed with respect to your Account, we will send you a periodic statement regarding 
the Account for that Billing Cycle.  The statement will show any purchases, cash advances, payments, and 
credits made to your Account during the Billing Cycle, as well as your “New Balance,” any Interest Charge, 
any late charge, or other charges.  You may elect to receive your statement information electronically.  Your 
statement also will identify the “Required Payment Due” you must make for that Billing Cycle and the date 
it is due.  You may pay in full for all your purchases and cash advances each month or you may repay in 
monthly installments.  You agree to retain for statement verification copies of transaction slips resulting 
from each purchase, each advance, and other transaction on your Account.  Unless you notify us of a billing 
error as described below, you accept your monthly statement as an accurate statement of your Account 
with us.

Credit Line.  This Agreement will constitute a revolving line of credit, and we will advise you of the 
8. 
amount of your credit line.  That amount will be the maximum amount you may have outstanding at any one 
time.  You agree not to attempt to obtain more credit than the amount of your credit line.  However, if you 
temporarily exceed your credit line, you agree to pay any overlimit fees and repay the excess immediately, 
even if we have not yet billed you.  Obtaining such credit does not increase your credit line.  We retain the 
right to increase or decrease your credit line at any time for any reason.  Any increase or reduction on the 
limit of your credit line will be shown on your monthly statement or by separate notice together with any 
changes in the applicable minimum monthly payments.  The minimum credit limit is $5,000.

Circumstances  Under  Which  a  Interest  Charge  Will  Be  Imposed.   The  total  outstanding 
9. 
balance of purchases and cash advances in the Account on the closing date of a Billing Cycle, including 
any  Interest  Charge  will  be  shown  on  the  Periodic  Statement  for  that  billing  cycle  as  the  
“New Balance.”

a.  Purchases. A Interest Charge will be imposed on the unpaid portion of purchases included in the New 
Balance when your New Balance is not paid in full by the due date shown on your periodic statement.  
This “grace period” allows you to avoid a Interest Charge on purchases for a billing cycle.  However, 
if you do not pay the New Balance for purchases within the grace period, your Interest Charge will 
accrue on any unpaid purchase transactions from the first day of the billing cycle. 

b.  Cash Advances. A Interest Charge will be imposed on cash advances from the date each cash 
advance is made. There is no time period within which to pay to avoid a periodic Interest Charge 
on cash advances. In addition, a cash advance fee (Interest Charge) equal to 2% of the cash 
advance (or $10.00, whichever is greater) will be applied to each cash advance. 

10.  Method  Used  to  Determine  the  Balance  on  Which  the  Interest  Charge  May  Be 
Computed.  We figure the Interest Charge on your Account by applying the Periodic Rate to the “Average 
Daily Balance” of purchases and cash advances for your Account (not including current transactions).  To 
get the “Average Daily Balance” we take the beginning balance of your Account each day, add any new 
purchases or cash advances, and subtract any payments or credits, unpaid Interest Charges and unpaid late 
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.”

11.  Method of Determining the Amount of the Interest Charge. We figure the Interest Charge for 
purchases and cash advances by multiplying the Average Daily Balance of purchases and cash advances 
by the number of days in the Billing cycle and then by the applicable periodic rate.  The Interest Charge 
for any Billing Cycle will be the sum of the Interest Charge for purchases and the Interest Charge for cash 
advances.  However, the portion of your balance that is the result of purchases has a different treatment.  If 
you paid the entire New Balance shown on the previous monthly statement by the payment due date shown 
on that statement, the portion of the New Balance shown on the current statement that is attributable to 
purchases that is paid by the payment due date shown on that statement will be excluded from the calculation 
of the balance each day.  For this purpose, payment will be applied first to unpaid Interest Charge, then to 
unpaid purchases and cash advances from prior billing statements, then to unpaid purchases and cash 
advances from the current billing statement.  At our option, the minimum payment may be applied first to 
the portion of the balance that is subject to the lowest interest rate.  Payments in excess of the minimum 
payment will be applied first to the portion of the balance that is subject to the highest rate.

12. 

(a)  Purchases.  Periodic  Rate  and  Corresponding  Annual  Percentage  Rate.  The  Periodic 

Rate that is used to compute the Interest Charge and the corresponding Annual Percentage 
Rate is variable, and will change based on changes in an index, which is the Prime Rate quoted 
on the 15th day of the last month of the prior quarter as published in The Wall Street Journal 
(Western Edition). We add a margin of 4.99 percentage points to the index to obtain the Annual 
Percentage Rate. The Annual Percentage Rate includes only interest and not other costs. The 
Annual Percentage Rate is divided by 365 to produce the daily Periodic Rate. The Periodic Rate 
and Annual  Percentage  Rate  that  will  apply  to  your Account  will  be  disclosed  on  the  notice 
that accompanies (and is a part of) this Agreement when you open your Account. The Annual 
Percentage Rate will in no event be higher than 18%,  over the life of the credit line. The rate 
will be adjusted on the twenty fifth day of each calendar quarter (January 25, April 25, July 25, 
and October 25). 

12. (b).Cash Advances.  The Daily Periodic Rate for cash advances (including balance transfers) 
is .046547%, with a corresponding Annual Percentage Rate of 16.99%.

13.  Conditions  Under  Which  Other  Charges  May  Be  Imposed.   We  may  impose  the 
following fees and charges on your Account:

a. Annual Fee.  There is no annual fee.

b. Cash Advance Fee.  The fee for a cash advance is the greater of 2.00% of the cash 

advance amount or $5.00.

c. Late Fee. A late fee of up to $25 will be imposed when any payment is 15 days past due.

d. Miscellaneous Photocopying.  If you request a copy of a sales draft or other document, 
we may charge your Account $5.00 per copy and $25.00 per hour for research.  These 
charges cover the costs of locating, copying, and delivering the documents to you.  If a 
request is related to a billing error and an error is found, we will reverse any photocopying 
charges.

e. Replacement Card Charge.  A $5.00 charge per card will be imposed for each replacement 

card you request, regardless of the reason.

f.  Convenience  Check  Stop  Payment.    A  $27.00  charge  will  be  imposed  for  each 

convenience check stop payment request (includes verbal requests).

g. ATM Surcharges.  If you use an ATM that is not operated by us, you may be charged an 
ATM surcharge by the ATM operator or an ATM network utilized for such a transaction. 
The ATM  surcharge  will  be  charged  to  your  account  if  you  elect  to  complete  the 
transaction.

h. Fees and Costs.  We may pay someone else to help collect your Account if you do not pay.  
You agree to pay us all costs to collect your Account, including court costs, reasonable 
attorney fees and costs, and collection agency costs, if applicable, whether or not there 
is a lawsuit, and fees on any appeal and fees for bankruptcy proceedings, appeals, and 
any post judgment collection services, if applicable.  These fees and costs may be added 
to your loan balance and bear interest at the Annual Percentage Rate applicable at that 
time.

i.  Foreign Transaction Fee:Purchases made in foreign countries will be billed to you in 
U.S. dollars. The currency conversion rate for international transactions as established 
by VISA International, Inc. is 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. In addition, you will be charged a Foreign 
Transaction Fee of up to 1% of the transaction amount for any card transaction made 
in a foreign country.

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 your Account.  
If you default, we will have the right to recover any of these goods which have not been paid for 
through application of your payments in the manner described in Section 11.  Except for real 
estate loans or loans secured by your dwelling, collateral securing other loans with us also may 
be used to secure this Account.  You also pledge all of your present and future shares and any 
earnings thereon as security for obligations under your Account.

15.  Conditions of Card Use.  The use of your Card and Account are subject to the following 
conditions:

a. Ownership of Cards.  Any Card or other credit instrument or device which we supply to 
you is our property and must be returned to us, or to any person whom we authorize 
to act as our agent, or to any person who is authorized to honor the Card, immediately 
according  to  instructions.   The  Card  may  be  repossessed  at  any  time  in  our  sole 

 
 
 
 
discretion  without  demand  or  notice.   You  cannot  transfer  your  Card  or Account  to 
another person.  You may not use the Card for any illegal or unlawful transactions, and 
we may decline to authorize any transaction that we believe poses an undue risk of 
illegality or unlawfulness.

b. Honoring the Card.  Neither we nor merchants authorized to honor the Card will be 
responsible for the failure or refusal to honor the Card or any other credit instrument or 
device we supply to you.  If a merchant agrees to give you a refund or adjustment, you 
agree to accept a credit to your Account in lieu of a cash refund.

c.  Notices  and  Payments.   All  notices  will  be  sent  to  your  address  as  shown  in  the 
application.  You agree to advise us promptly if you change your mailing address. All 
payments should be mailed to us at the remittance address shown on your monthly 
statements.  Payments received at that address will be credited to your Account as of 
the date received.  Payments mailed must reach our office by the due date.  Where the 
due date falls on a weekend or holiday, payments are due the last working day prior 
to the due date.  We can accept late payments or partial payments, or checks, drafts, 
and money orders marked “payment in full,” without prejudice to our rights under this 
Agreement, which are hereby explicitly reserved.

d. Personal Identification Number.  We may issue you a Personal Identification Number 
(“PIN”)  for  using  your  Card  to  obtain  cash  advances  at  automatic  teller  machines 
(“ATMs”).  These numbers are issued to you for your security purposes.  These numbers 
are confidential and should not be disclosed to third parties.  You are responsible for 
safekeeping your PIN.  You agree not to disclose or otherwise make available your PIN 
to anyone not authorized to sign on your Accounts.  To keep your Account secure, please 
do not write your PIN on your Card or keep it in the same place as your Card.

16.  Default.  You will be in default under this Agreement if any of the following occur:  (a) Any 
minimum payment is not made when due; (b) You become insolvent, bankrupt, or you die; (c) You 
violate any part of this Agreement, or any other agreement with us; or (d) if we reasonably deem 
ourselves insecure on your credit line.  We will notify you in writing of any such action as soon 
as practical if it occurs.  Upon default, we may declare the entire unpaid balance immediately 
due and payable, and you agree to pay that amount plus any attorney’s fees and costs incurred 
by us.  We can delay enforcing any right under this Agreement without losing that right or any 
other right.

17.  Credit  Information/Financial  Statements.   You  authorize  us  to  release  information 
to others (e.g., credit bureaus, merchants, and other financial institutions) regarding the status 
and history of your credit line.  You agree to provide us, at any time we deem necessary, with a 
current financial statement and/or a new credit application upon request.  You authorize us to 
make or have made any credit, employment, and/or investigative inquiry we deem appropriate 
for the extension of credit, account maintenance, or collection of amounts owing on the Account 
directly or through a credit reporting agency.

18. Loss or Theft of VISA Platinum Credit Card - Liability for Unauthorized Transactions. 
You agree to notify us immediately, orally, or in writing, at iQ Credit Union, P.O. Box 1846, Vancouver, 
Washington 98668-1846, or telephone (360) 695-3441, or (800) 247-4364 of the loss, of the 
theft, or the use without your permission of any Card or other credit instrument or device which 
we supply to you. After normal Credit Union hours and on weekends and holidays, phone (360) 
694-5463 or (800) 999-3441 and then notify the Credit Union at the first opportunity during 
business hours. If you notify us of your lost or stolen Card, you will not be liable for any losses. 
This liability exclusion will apply provided you were not grossly negligent or fraudulent in handling 
your Card, otherwise your liability for unauthorized VISA Platinum Credit Card transactions may 
be up to $50.00.

18.1 Address.  You agree to advise us promptly if you change your mailing address. We can 
accept address corrections received from the U.S. Postal Service or from any authorized user. 
All written notices and statement from us to you will be sent to your address as it appears on 
our records. Written notices and inquiries from you must be sent to us at:

iQ Credit Union                                                                                                                 
P.O. Box 186                                                                                                                  

Vancouver, WA 98668-1846

19.  Termination.  Your eligibility for this credit line is determined by our loan policy and may 
be terminated at our sole discretion, without demand or notice.  You may close your credit line 
at any time by notifying us in writing and returning all Cards cut in half.  If you terminate this 
Agreement or if we terminate or suspend your credit privileges, the provisions of this Agreement 
and your liability hereunder shall otherwise remain in full force and effect until you have paid us 
all sums due us under this Agreement and returned all Cards.

20.  Billing Errors Notice Rights for VISA Platinum Credit Card Transactions.

a.  Notify Us in Case of Errors or Questions About Your Bill.  This notice contains important 
information  about  your  rights  and  our  responsibilities  for VISA  Platinum  Credit  Card 
transactions under the Fair Credit Billing Act.  If you think your bill is wrong, or if you 
need more information about a transaction on your bill, write to us at the address listed 
above.  Write to us 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	VISA	Platinum	Credit	Card	transaction	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 Account bill automatically from your checking account, you can stop 
the payment on any amount you think is wrong.  To stop the payment your letter must reach us three 
business days before the automatic payment is scheduled to occur.

b.  Your Rights and Our Responsibilities After We Receive Your Written Notice.  We must acknowledge 
your letter within 30 days, unless we have corrected the error by then.  Within 90 days, we must 
either correct the error or explain why we believe the bill was correct.

  After we receive your letter, we cannot try to collect any amount you question, or report you as 
delinquent.  We can continue to bill you for the amount you question, including Interest 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 bill that are 
not in question.

If  we  find  that  we  made  a  mistake  on  your  bill,  you  will  not  have  to  pay  any  Interest  Charge 
related to any questioned amount.  If we didn’t make a mistake, you may have to pay IInterest 
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.  However, 
if our explanation does not satisfy you and you write to us within ten days telling us that you still 
refuse to pay, we must tell anyone we report you to that you have a question about your bill.  And, 
we must tell you the name of anyone to whom we reported you.  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 not collect the first $50 of the questioned amount, even if 
your bill was correct.

c.  Special Rule for Credit Card Purchases.  If you have a problem with the quality of property or 
services that you purchased with a credit card, and you have tried in good faith to correct the 
problem with the merchant, you may have the right not to pay the remaining amount due on the 
property or services.  There are two limitations on this right:

i.   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

ii.  The purchase price must have been more than $50.00.

These limitations do not apply if we own or operate the merchant, or if we mailed you the advertisement 
for the property or services.

21.  Severability.  If any provision of this Agreement is held invalid, all provisions that are severable from 
the invalid provision remain in effect.

22.  Acknowledgment and Amendments.  You understand and agree to the terms and conditions in this 
Agreement and the Fair Credit Billing Notice.  You acknowledge that you have received a copy of this Agreement 
and Disclosure and the Fair Credit Billing Notice.  We reserve the right to amend the terms of this Agreement 
at anytime as permitted by and subject to any limitations and notice requirements of applicable law. 

23.  Governing Law.  This Agreement will not take effect until it is approved by us.  This Agreement shall 
be governed by the laws of the State of Washington.

Call the Credit Union: 360-695-3441
Outside the area: 800-247-4364
TDD: 360-695-9626
Visit us at : www.iQcu.com

Visa  
Platinum  
Credit Card  
Agreement  
and  
Regulation “Z”  
Disclosures

®

08/11