CREDIT CARD ACCOUNT AGREEMENT AND FEDERAL
P. O. Box 983
Texell
Temple, Texas 76503
DISCLOSURE STATEMENT; SECURITY AGREEMENT;
254.773.1604
Your Credit Union
Texell.org
MILITARY ANNUAL PERCENTAGE RATE (MAPR) AND
PAYMENT OBLIGATION DISCLOSURE ("Agreement")
Numbers, phrases, or words preceded by
a
are applicable only if the
is marked, e.g.
ACCOUNT-OPENING DISCLOSURES
Interest Rate and Interest Charges
Annual Percentage Rate
VISA Platinum:
% Introductory APR for 6 months or 6 full billing cycles
(APR) For Purchases
after Your Account is opened, whichever is greater.
After that Your APR will be
%. This APR will vary with the market
based on the Prime Rate.
VISA Aspire:
%
This APR will vary with the market based on the Prime Rate.
APR For Balance Transfers
VISA Platinum:
% Introductory APR for 6 months or 6 full billing cycles
after Your Account is opened, whichever is greater.
After that Your APR will be
%. This APR will vary with the market
based on the Prime Rate.
VISA Aspire:
%
This APR will vary with the market based on the Prime Rate.
APR For Cash Advances
VISA Platinum:
%
This APR will vary with the market based on the Prime Rate.
VISA Aspire:
%
This APR will vary with the market based on the Prime Rate.
Paying Interest
VISA Platinum - Your due date will be at least 25 days following the statement closing
date. We will not charge You interest on purchases if You pay Your entire balance
owed each month by the payment due date. We will not charge You interest on
balance transfers prior to the expiration of any Introductory Rate period if You pay
Your entire balance owed each month by the payment due date during that period. We
will begin charging interest on cash advances on the transaction date.
VISA Aspire - Your due date will be at least 25 days following the statement closing
date. We will not charge You interest on purchases if You pay Your entire balance
owed each month by the payment due date. We will begin charging interest on
balance transfers and cash advances on the transaction date.
For Credit Card Tips from the
To learn more about factors to consider when applying for or using a Credit
Consumer Financial Protection
Card, visit the website of the Consumer Financial Protection Bureau at
Bureau
http://www.consumerfinance.gov/learnmore
Fees
Transaction Fees
Balance Transfer
Except for transfers subject to an Introductory APR, $8.00 for each transfer
Cash Advance
$8.00 for each advance
Overdraft Transfer
$8.00 for each transfer
Penalty Fees
Late Payment
Up to $35.00
Returned Payment
Up to $25.00
How We Will Calculate Your Balance: 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., 2018. All Rights Reserved.
Page of 6
OTBS 045 TEXL (1/18)
SECURITY AGREEMENT
Borrower(s):
Credit Card Account Number:
SECURITY INTEREST
To secure all obligations of Borrower(s) hereunder to the Credit Union You grant and consent to a lien on Your shares, and if
described below, You also give a security interest and lien in and upon the shares (Collateral) identified separately below, and any
related insurance premium refunds.
CONSENSUAL LIEN ON SHARES. You grant and consent to a lien on Your shares with Us, in either joint or individual accounts (ex cept for IRA and
Keogh accounts), and any dividends due or to become due to You from Us to the extent You owe on any unpaid Credit Card balance. You
acknowledge that it is Your intention for such consensual lien to apply to all shares currently on deposit, together with any shares You may deposit
in the future. You further acknowledge that in the event You default on Your Account, We will set-off any Credit Card indebtedness against such
shares, and You agree that We may do so without any further notice to You.
DESCRIPTION (Account Type(s) Pledged)
ACCOUNT NUMBER (Account Number(s) Pledged)
AMOUNT PLEDGED
By signing below, You acknowledge that You have read this entire Agreement, that You understand it, that You accept and agree to all of the terms and conditions
described in it, and that You have received a completed copy of it. You authorize Us to accept Your facsimile signatures and agree that Your facsimile signature will
have the same legal force and effect as Your original signature. You assume any risk that may be associated with permitting Us to accept Your facsimile signature.
Name of Borrower
Signature of Borrower
Date
Name of Borrower
Signature of Borrower
Date
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 draft
account by an advance on Your Account, subject to this provision, to clear any 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 all liability which might otherwise arise if the transfer does not occur. Overdraft
protection automatically ceases if this Agreement is ever cancelled or terminated or Your Account is in default.
If You currently have a share draft account, You authorize Us to pay any of Your overdrafts in the order listed below, and You acknowledge that any advance
made to clear an overdraft will only be made if You have sufficient available credit. If no priority is listed, then any such overdrafts will only be charged to Your
Account (subject to Your available Credit Limit). If You do not have a share draft account at this time, and subsequently establish such an account in the
future, You acknowledge that the order in which any overdrafts will be paid shall be subject to the preference You have separately indicated to Us for clearing
any overdrafts.
1.
2.
3.
Copyright Oak Tree Business Systems, Inc., 2018. All Rights Reserved.
Page 2 of 6
OTBS 045 TEXL (1/18)
STATEMENT OF THE MILITARY ANNUAL PERCENTAGE RATE (MAPR), AND PAYMENT OBLIGATION DISCLOSURE
If these disclosures were not provided to You in-person, We
will also provide these disclosures to You orally, if You contact
Us at the toll-free number set forth herein.
Toll-Free Number:
855.351.7048
STATEMENT OF THE MILITARY ANNUAL PERCENTAGE RATE (MAPR)
Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In
general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of
36 percent. This rate must include, as applicable to the credit transaction or account: The costs associated with credit insurance premiums;
fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for
specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account).
PAYMENT OBLIGATION DISCLOSURE
Please refer to the important Account-Opening Disclosures required by the federal Truth in Lending Act, including Your Credit Card Account
Agreement And Federal Disclosure Statement for important information about Your payment obligations. This Agreement is being furnished to
You at or before the time Your open-end credit account is established.
CREDIT CARD ACCOUNT AGREEMENT AND FEDERAL DISCLOSURE STATEMENT
THIS IS YOUR CREDIT CARD ACCOUNT AGREEMENT AND IT INCLUDES NECESSARY FEDERAL TRUTH-IN-LENDING DISCLOSURE STATEMENTS, VISA
PLATINUM AND VISA ASPIRE CREDIT CARD AGREEMENTS, AND ANY SPECIAL INSTRUCTIONS REGARDING THE USE OF YOUR VISA PLATINUM AND VISA
ASPIRE CREDIT CARD, 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.
DEFINITIONS. In this Agreement, the reference to "We," "Us," "Our" and "Credit Union" means TEXELL 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 VISA Platinum or VISA Aspire
Credit Card issued to You by Us and any duplicates or renewals. The word "Account" means the VISA Platinum or VISA Aspire Credit Card Account established for You
under this Agreement. "Convenience Check" means the special Account access devices that We may provide for Your use from time to time. If this is a joint Account, read
singular pronouns in the plural.
PROMISE TO PAY. You understand that the following terms and conditions 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, Convenience Checks, Credit Cards 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.
Variable Rate
Credit Card
Daily Periodic Rate
ANNUAL PERCENTAGE RATE
For Purchases
For Purchases
Index
Margin
VISA Platinum
%
%
VISA Aspire
%
%
Variable Rate
Daily Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
For Balance Transfers
For Balance Transfers
Index
Margin
VISA Platinum
%
%
VISA Aspire
%
%
Variable Rate
Daily Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
For Cash Advances
For Cash Advances
Index
Margin
VISA Platinum
%
%
VISA Aspire
%
%
USE OF YOUR CARD. You may use Your Card to buy goods and services
that You default on Your Account, We may apply these shares toward the repayment
in any place that it is honored and to get cash advances at participating financial
of any amount owed on Your VISA Aspire Credit Card. You may cancel Your VISA
institutions. You agree not to use Your Card for illegal transactions including, but
Aspire Credit Card at any time by paying any amounts owed on such Account. You
not limited to, advances made for the purpose of gambling and/or wagering
understand that all shares pledged as Collateral must remain on deposit at all times,
where such practices are in violation of applicable state and/or federal law.
except to the extent that You repay all amount(s) You owe to Us and close Your
Account. To be certain that Your entire balance and all advances are paid, the shares
SECURITY. Collateral (other than household goods or any dwelling) given as
pledged may not be available to You for at least 30 days after You have cancelled and
security under any other loan You may have with Us will secure all amounts You
any outstanding balance is paid in full.
owe Us now and in the future if that status is reflected in the "Truth-in-Lending
Disclosure" in any particular Agreement evidencing such debt.
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for
which You are approved. Unless You are in default, the Credit Limits established
ACCOUNT RESTRICTIONS VISA ASPIRE. In order to receive and maintain a VISA
for You will generally be self-replenishing as You make payments. You will keep
Aspire Credit Card, You have given Us a specific pledge of shares (Collateral) which is
Your unpaid balance within Your Credit Limit set by Us, and You will pay any
described above in the Security Agreement section of this Agreement. In the event
amount over Your Credit Limit on Our demand whether or not We authorize the
Copyright Oak Tree Business Systems, Inc., 2018. All Rights Reserved.
Page 3 of 6
OTBS 045 TEXL (1/18)
advances which caused You to exceed Your Credit Limit. Even if Your unpaid
VISA Platinum - Grace Period on Balance Transfer Transactions. Your due
balance is less than Your Credit Limit, You will have no credit available during any
date is at least 25 days after Your statement closing date. For VISA Platinum,
time that any aspect of Your Account is in default.
during the Introductory Rate Period You can avoid Finance Charges on balance
transfers by paying the full amount of the entire balance owed each month by Your
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for
payment due date. Otherwise, the new balance of balance transfers, and
the repayment of any amounts owed. If any Account access device, such as
a
subsequent balance transfers from the date they are posted to Your Account, will
Personal Identification Number (PIN) is requested and approved, You understand
be subject to a Finance Charge.
that any such Account access device(s) will be mailed only to the primary Borrower
at the address that We have on file for You. We may refuse to follow any
VISA Aspire- No Grace Period on Balance Transfer Transactions. Balance
instructions which run counter to this provision.
transfers obtained through the use of Your VISA Aspire Credit Card are always
subject to a Finance Charge from the date they are posted to Your Account.
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You need
only pay the Minimum Monthly Payments, You understand that You have the right
VISA Platinum Introductory Rate on Balance Transfer Transactions. For VISA
to repay at any time without penalty. You also understand that You will only be
Platinum, each balance transfer transaction obtained during the first 6 billing cycles
charged periodic Finance Charges to the date You repay Your entire balance. You
following the date that Your Account is established will accrue Finance Charges at a
may make larger payments without penalty. Any partial payment or prepayment will
discounted Introductory Daily Periodic Rate of 0.00000 % (corresponding
not delay Your next scheduled payment. All payments to Us must be in lawful
ANNUAL PERCENTAGE RATE 0.00 %) for a period ending with the
6th
money of the United States. Except as required by law, We may apply payments at
complete billing cycle following the date of Card issuance. Upon the expiration of an
Our discretion. Any unpaid portion of the Finance Charge will be paid by
Introductory Rate period each such balance will be subject to the non-introductory
subsequent payments and will not be added to Your principal balance. You
Variable Rate described elsewhere in this Agreement. If Your Account was not subject
understand that any delay in the repayment of Your unpaid balance will increase
to this Introductory Rate the balance for balance transfers would have accrued
Your periodic Finance Charges and any acceleration in the repayment of Your
Finance Charges at the Daily Periodic Rate and corresponding Annual Percentage
unpaid balance will decrease Your periodic Finance Charges.
Rate described elsewhere in this Agreement.
Minimum Monthly Payments will be an amount equal to 3.00% of Your new unpaid
VISA Platinum and VISA Aspire Cash Advance Transactions. In the case of any
Account balance at the end of each billing cycle, subject to the lesser of $25.00 or
balance transfer transactions under Your Account, the balances subject to the periodic
Your balance, plus any portion of the Minimum Payments shown on prior
Finance Charge are the average daily transactions balances outstanding during the
statement(s) which remains unpaid, plus any amount that exceeds Your approved
month (including new transactions). To get the average daily balance for cash
Credit Limit.
advances, We take the beginning balance for cash advances each day, add any new
cash advances, debit adjustments or other charges and subtract any payments
You may authorize Us to charge Your payment directly to Your share or share
credited to cash advances, credits and unpaid Finance Charges. This gives Us the
draft account.
daily balance for cash advances. Then, We add up all the daily balances for cash
advances for the billing cycle being accounted for and divide them by the number of
FINANCE CHARGES. Finance charges on Your Account will accrue as set
days in the billing cycle. The Finance Charge for cash advances for each billing cycle
forth below.
is computed by multiplying the average daily balance for cash advances that is subject
to a Finance Charge by the Daily Periodic Rate.
VISA Platinum and VISA Aspire Purchase Transactions. In the case of any
purchase transactions under Your Account, the balances subject to the periodic
VISA Platinum and VISA Aspire - No Grace Period on Cash Advance
Finance Charge are the average daily transactions balances outstanding during
Transactions. Cash advances obtained through the use of Your VISA Platinum
the month (including new transactions). To get the average daily balance for
Credit Card and/or VISA Aspire Credit Card are always subject to a Finance
purchases, We take the beginning balance for purchases each day, add any
Charge from the date they are posted to Your Account.
new purchases, debit adjustments or other charges and subtract any payments
credited to purchases, credits and unpaid Finance Charges. This gives Us the
VARIABLE RATE. For VISA Platinum, following the expiration of the Introductory
daily balance for purchases. Then, We add up all the daily balances for
Rate period, all purchase and balance transfers transactions are subject to
a
purchases for the billing cycle being accounted for and divide them by the
Variable Rate which is based on the highest Prime Rate as published in the Money
number of days in the billing cycle. The Finance Charge for purchases for each
Rates section of The Wall Street Journal in effect on the day the Introductory Rate
billing cycle is computed by multiplying the average daily balance for purchases
period expires, and subsequently, on the last day of each calendar quarter of each
that is subject to a Finance Charge by the Daily Periodic Rate times the number
year ("Index") plus Our Margin. The Index plus the Margin equals the Interest Rate.
of days in the billing cycle.
Changes in the Index will cause changes in the Interest Rate on the day the
Introductory Rate period expires, and subsequently, on the first day of the calendar
VISA Platinum and VISA Aspire Grace Period on Purchase Transactions.
quarter that immediately follows a change in the Index.
Your due date is at least 25 days after Your statement closing date. You can avoid
Finance Charges on purchases by paying the full amount of the entire balance
For VISA Platinum, balances for cash advance transactions are subject to a
owed each month by Your payment due date. Otherwise, the new balance of
Variable Rate which is based on the highest Prime Rate as published in the Money
purchases, and subsequent purchases from the date they are posted to Your
Rates section of The Wall Street Journal in effect on the last day of each calendar
Account, will be subject to a Finance Charge.
quarter of each year ("Index") plus Our Margin. The Index plus the Margin equals
the Interest Rate. Changes in the Index will cause changes in the Interest Rate on
VISA Platinum - Introductory Rate on Purchase Transactions. For VISA
the first day of the calendar quarter that immediately follows a change in the Index.
Platinum, each purchase transaction obtained during the first 6 billing cycles
following the date that Your Account is established will accrue Finance Charges at
For VISA Aspire, all balances are subject to a Variable Rate which is based on the
a discounted Introductory Daily Periodic Rate of 0.00000
% (corresponding
highest Prime Rate as published in the Money Rates section of The Wall Street
ANNUAL PERCENTAGE RATE 0.00
%) for a period ending with the 6th
Journal in effect on the last day of each calendar quarter of each year ("Index") plus
complete billing cycle following the date of Card issuance. Upon the expiration of
Our Margin. The Index plus the Margin equals the Interest Rate. Changes in the
an Introductory Rate period each such balance will be subject to the non-
Index will cause changes in the Interest Rate on the first day of the calendar
introductory Variable Rate described elsewhere in this Agreement. If Your
quarter that immediately follows a change in the Index.
Account was not subject to this Introductory Rate the balance for purchases
would have accrued Finance Charges at the Daily Periodic Rate and
For all Cards, increases or decreases in the Interest Rate will cause like increases
corresponding Annual Percentage Rate described elsewhere in this Agreement.
or decreases in the Finance Charge and will affect the amount of Your regularly
scheduled payments. Your Interest Rate will never be greater than 18.00% and will
VISA Platinum and VISA Aspire Balance Transfer Transactions. In the case
apply to Your remaining principal balance.
of any balance transfer transactions under Your Account, the balances subject to
the periodic Finance Charge are the average daily transactions balances
LATE CHARGE. If Your payment is 3 or more days late, You will be charged the
outstanding during the month (including new transactions). To get the average
lesser of: (a) $25.00 (this amount will be $35.00 if You have incurred a late
daily balance for balance transfers, We take the beginning balance for balance
charge within 6 months of previously incurring a late charge); or (b) the amount
transfers each day, add any new balance transfers, debit adjustments or other
of the required minimum payment.
charges and subtract any payments credited to balance transfers, credits and
unpaid Finance Charges. This gives Us the daily balance for balance transfers.
FOREIGN TRANSACTIONS. For transactions initiated in foreign countries and foreign
Then, We add up all the daily balances for balance transfers for the billing cycle
currencies, the exchange rate between the transaction currency and the billing
being accounted for and divide them by the number of days in the billing cycle.
currency (U.S. dollars) will be: (a) a rate selected by VISA from the range of rates
The Finance Charge for balance transfers for each billing cycle is computed by
available in wholesale currency markets for the applicable central processing date,
multiplying the average daily balance for balance transfers that is subject to a
which rate may vary from the rate VISA itself receives; or (b) the government-
Finance Charge by the Daily Periodic Rate.
mandated rate in effect for the applicable central processing date.
Copyright Oak Tree Business Systems, Inc., 2018. All Rights Reserved.
Page 4 of 6
OTBS 045 TEXL (1/18)
OTHER FEES AND CHARGES. You will be charged the following fees associated
ENFORCEMENT. We do not lose Our rights under this or any related agreement if
with the use of Your Card: (a) the lesser of $25.00 or the required minimum
We delay enforcing them. We can accept late payments, partial payments or any
payment amount for the returned payment for any check (or other negotiable
other payments, even if they are marked "paid in full" without losing any of Our rights
instrument used for payment) which is returned unpaid; (b) $27.00 for each balance
under this Agreement. If any provision of this or any related agreement is determined
transfer check or cash advance check that is submitted to Us for payment and We
to be unenforceable or invalid, all other provisions remain in full force and effect.
return unpaid; (c) $8.00 FINANCE CHARGE for each balance transfer not subject
to an introductory rate; (d) $8.00 FINANCE CHARGE for each overdraft transfer;
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You move
(e) $8.00 FINANCE CHARGE for each cash advance; and (f) $5.00 for each
or otherwise have a change of address.
replacement Card You request.
CHANGE IN TERMS. We may change the terms of this Agreement by mailing or
PERIODIC STATEMENTS. On a regular basis, You will receive a statement
delivering to You written notice of the changes as prescribed by the Federal
showing all transactions on Your Account including amounts paid and borrowed
Truth-In-Lending Act. To the extent permitted by law, the right to change the
since Your last statement. We will deliver You a statement each month in which
terms of this Agreement includes, but is not limited to, the right to change the
there is a debit or credit balance or when a Finance Charge is imposed. We need
periodic rate applicable to Your unpaid balance and/or future advances.
not send You a statement if We feel Your Account is uncollectible or if We have
started collection proceedings against You because You defaulted. EACH
CREDIT INSURANCE. Credit insurance is not required for any extension of credit
STATEMENT IS DEEMED TO BE A CORRECT STATEMENT OF ACCOUNT
under this Agreement. However, You may purchase any credit insurance available
UNLESS YOU ESTABLISH A BILLING ERROR PURSUANT TO THE FEDERAL
through Us and have the premiums added to Your outstanding balance. If You elect to
TRUTH-IN-LENDING ACT.
do so, You will be given the necessary disclosures and documents separately.
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are under no
INTEGRATED DOCUMENTS. Any separate sheet of paper labeled "Additional
obligation to honor any of Your Convenience Checks and may, at Our sole and
Disclosure Federal Truth-In-Lending Act," which is delivered together with this
exclusive option, refuse to pay any Convenience Check, regardless of Our reason for
Agreement or at a later date becomes an integrated part of this Agreement
electing not to pay such Convenience Check. You acknowledge that any such refusal
and Disclosure.
to pay a Convenience Check shall not constitute wrongful dishonor, and We are not
responsible for any resulting loss or liability. If a postdated Convenience Check is paid
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this
and, as a result, any other Convenience Check is returned unpaid, We are not
Agreement. By signing this Agreement or an application; or by using Your Account
responsible for any resulting loss or liability.
or any Account access device; or by authorizing another to use Your Account, You
agree to and accept its terms.
DEFAULT. You will be in default if: (a) You do not make any payment or perform
any obligation under this Agreement, or any other agreement that You may have
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide facts to
with Us; or (b) You should die, become involved in any insolvency, receivership
update information contained in Your original Account application or other financial
or custodial proceeding brought by or against You; or (c) You have made a false
information related to You, at Our request. You also agree that We may, from time to
or misleading statement in Your credit application and/or in Your representations
time, as We deem necessary, make inquiries pertaining to Your employment, credit
to Us while You owe money on Your Account; or (d) A judgment or tax lien
standing and financial responsibility in accordance with applicable laws and
should be filed against You or any attachment or garnishment should be issued
regulations. You further agree that We may give information about the status and
against any of Your property or rights, specifically including anyone starting an
payment history of Your Account to consumer credit reporting agencies, a prospective
action or proceeding to seize any of Your funds on deposit with Us; and/or (e)
employer or insurer, or a state or federal licensing agency having any apparent
We should, in good faith, believe Your ability to repay Your indebtedness
legitimate business need for such information.
hereunder is or soon will be impaired, time being of the very essence.
TERMINATION. Either You or We may cancel Your Account at any time, whether
Upon any occurrence of default, and to the extent permitted by law, We may, without
or not You are in default. You will, in any case, remain liable to pay any unpaid
prior notice or demand: (a) declare the entire balance owed under this Agreement
balances according to the terms of Your Account.
immediately due and payable; and (b) impress and enforce the Consensual Lien on
Your shares and dividends with Us; and (c) if applicable, setoff any Collateral pledged.
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at any
Any resulting deficiency owed under this Agreement shall be immediately paid to the
time without notice. You agree to surrender Your Card and to discontinue its use
Credit Union. We can also exercise any other rights We hold under applicable law. To
immediately upon Our request.
the extent permitted by law, You waive any right You have to demand for payment,
notice of intent to accelerate and notice of acceleration.
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. We will issue, upon
Your request, a Personal Identification Number (PIN) for use with participating
ARBITRATION (Except for Credit Subject to the Military Lending Act (MLA)). In
Automated Teller Machines (ATMs). This PIN is confidential and should not be
the event of default under this Agreement, We may, at Our sole and exclusive
disclosed to anyone. You may use Your PIN to access Your Account and all sums
option, pursue Our remedies by filing a legal action to recover any amounts owed
advanced will be added to Your Account balance. In the event a use of Your PIN
under this Agreement, or We may initiate arbitration proceedings.
constitutes an Electronic Fund Transfer, the terms and conditions of Your
Electronic Fund Transfer Agreement may also affect Your rights.
If We elect arbitration to resolve any controversy or claim arising out of Your
default under this Agreement, such arbitration shall be administered by the
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or other
American Arbitration Association in accordance with its Arbitration Rules, and
slips You may sign or receive when using Your Card contain terms, this Agreement is
judgment on the award rendered by the arbitrator(s) may be entered in any court
the contract which solely applies to all transactions involving the Card.
having jurisdiction thereof. Claims shall be heard by a single arbitrator. The
arbitration shall be governed by the laws of the state in which Our principal office is
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your Card. You
located, and arbitration shall take place in the area in which Our principal office is
will not be liable for the unauthorized use that occurs after You notify Us of the loss,
located. Time is of the essence for any arbitration under this Agreement. Arbitration
theft, or possible unauthorized use by calling Us at (254) 773-1604. You may also
hearings shall take place within 90 days of the request for arbitration, and awards
notify Us of the loss, theft, or possible unauthorized use by writing to Us at
shall be rendered within 60 days of the conclusion of the arbitration proceedings.
983, Temple, TX 76503. In any case, Your liability will not exceed $50.00.
Arbitrator(s) shall agree to these limits prior to accepting appointment. The
arbitrators will have no authority to award punitive or other damages not measured
PRE-AUTHORIZED RECURRING CHARGES. You may, from time to time,
by the prevailing party's actual damages, except as may be required by statute.
establish preauthorized recurring charges be made on Your Account. You
The arbitrator(s) shall award to the prevailing party, if any, as determined by the
understand that any such preauthorized recurring charges will continue unless
arbitrators, all of their costs and fees. "Costs and fees" mean all reasonable pre-
discontinued by You directly with the service provider with whom You preauthorized
award expenses of the arbitration, including the arbitrators' fees, administrative
the recurring charge.
fees, travel expenses, out-of-pocket expenses such as copying and telephone,
court costs, witness fees, and attorneys' fees. Except as may be required by law,
To ensure that recurring preauthorized charges established and authorized by
neither a party nor an arbitrator may disclose the existence, content, or results of
You are not interrupted in the event that Your Card or other Access Device is
any arbitration hereunder without the prior written consent of both parties. All
reissued, We may, but are under no obligation to do so, enroll Your account in
parties hereby waive and give up all rights to a jury trial or class action relief.
automatic account information update services that communicate new
Card/Access Device information to the service providers with whom You have
COLLECTION COSTS. In the event collection efforts are required to obtain
established preauthorized recurring charges, the purpose of which is to ensure
payment on this Account, to the extent permitted by law, You agree to pay all court
charges You authorize continue without interruption.
costs, private process server fees, investigation fees or other costs incurred in
collection and reasonable attorneys' fees incurred in the course of collecting any
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not liable for
amounts owed under this Agreement or in the recovery of any Collateral.
the refusal or inability of merchants, financial institutions and others to accept the
Copyright Oak Tree Business Systems, Inc., 2018. All Rights Reserved.
Page 5 of 6
OTBS 045 TEXL (1/18)
Cards or Convenience Checks, or electronic terminals to honor the Cards or complete
What To Do If You Find A Mistake On Your Statement
a Card withdrawal, or for their retention of the Cards or Convenience Checks.
If You think there is an error on Your statement, write to Us at P.O. Box 983,
TRANSACTION SLIPS. Your monthly statement will identify that merchant,
Temple, TX 76503. In Your letter, give Us the following information:
electronic terminal or financial institution at which transactions were made, but
Account information: Your name and Account number.
sales, cash advance, credit or other slips cannot be returned with the statement.
Dollar amount: The dollar amount of the suspected error.
Description of problem: If You think there is an error on Your bill, describe
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit Cards or
what You believe is wrong and why You believe it is a mistake.
Convenience Checks, You will immediately call Us at (254) 773-1604. You may also
report lost or stolen Credit Cards or Convenience Checks by writing to Us at P.O. Box
You must contact Us:
983, Temple, TX 76503. In any case, Your liability will not exceed $50.00.
Within 60 days after the error appeared on Your statement.
CREDITS. If a merchant who honors Your Card gives You credit for returns or
At least 3 business days before an automated payment is scheduled, if You
adjustments, they will do so by sending Us a slip which will be posted to Your
want to stop payment on the amount You think is wrong.
Account. If Your credits and payments exceed what You owe Us, We will hold and
apply this credit against future purchases and cash advances, or if it is $1.00 or
You must notify Us of any potential errors in writing. You may call Us, but if You do
more refund it on Your written request or automatically deposit it to Your share
We are not required to investigate any potential errors and You may have to pay
account after 6 months.
the amount in question.
GOVERNING LAW. This Agreement is controlled and governed by the laws of the
What Will Happen After We Receive Your Letter
State of Texas, except to the extent that such laws are inconsistent with controlling
federal law.
When We receive Your letter, We must do two things:
1)
Within 30 days of receiving Your letter, We must tell You that We received
ELECTRONIC COMMUNICATIONS. You authorize Us to send You, from
Your letter. We will also tell You if We have already corrected the error.
time to time, and to the extent permitted by applicable law, electronic
2)
Within 90 days of receiving Your letter, We must either correct the error or
communications regarding the status of any share, share draft, and/or certificate
explain to You why We believe the bill is correct.
account(s) You maintain with Us. You also authorize Us to send You electronic
communications regarding any other accounts You may maintain with Us from
While We investigate whether or not there has been an error:
time to time including, but not limited to, loan accounts, credit line accounts, and
We cannot try to collect the amount in question, or report You as delinquent
credit card accounts. These electronic communications are sometimes referred
on that amount.
to as "transactional or relationship messages."
The charge in question may remain on Your statement, and We may continue
to charge You interest on that amount.
You authorize Us to contact You using any wireless, cellular, mobile or other
While You do not have to pay the amount in question, You are responsible for
telephone number You have provided to Us on Your membership application,
the remainder of Your balance.
and at any wireless, cellular, mobile or other telephone number You may
We can apply any unpaid amount against Your Credit Limit.
furnish to Us or We obtain for You in the future. To the extent permitted by
law, We may contact You using any electronic means We choose, which
After We finish Our investigation, one of two things will happen:
may include but is not limited to, voice messages, text messages and other
similar electronic methods of communication. If You have furnished Us with
If We made a mistake: You will not have to pay the amount in question or any
any e-mail address(es), You understand and agree that We may send You e-
interest or other fees related to that amount.
mail messages regarding Your Account(s) with Us from time to time. If You
If We do not believe there was a mistake: You will have to pay the amount
have executed or subsequently execute any separate Disclosure and
in question, along with applicable interest and fees. We will send You a
Consent to Receive Electronic Documentation or similar form, any
statement of the amount You owe and the date payment is due. We may
communications covered by such Disclosure and Consent shall be subject to
then report You as delinquent if You do not pay the amount We think
You owe.
the terms and conditions set forth in that document.
You understand that the nature of electronic communications is such that
If You receive Our explanation but still believe Your bill is wrong, You must write
anyone with access to Your wireless, cellular, mobile or other telephonic
to Us within 10 days telling Us that You still refuse to pay. If You do so, We
cannot report You as delinquent without also reporting that You are questioning
device or e-mail may be able to read or listen to such transactional or
Your bill. We must tell You the name of anyone to whom We reported You as
relationship messages from Us, and You agree that any person or party
delinquent, and We must let those organizations know when the matter has
sending or leaving such messages shall have no liability for any
been settled between Us. If We do not follow all of the rules above, You do
consequences resulting from the interception of such messages by any other
not have to pay the first $50.00 of the amount You question even if Your bill
party. Without limitation, You also agree that You are responsible to pay all
is correct.
costs that You may incur as a result of any contact method We choose
including, but not limited to, charges for telecommunications, wireless and/or
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
internet charges.
If You are dissatisfied with the goods or services that You have purchased with
CONSENT TO CONTACT AGREEMENT. You agree that We may, subject
Your Credit Card, and You have tried in good faith to correct the problem with the
to applicable law, initiate telephone calls to any residential line (wireline
merchant, You may have the right not to pay the remaining amount due on the
service), cellular telephone service, or other wireless service associated
purchase. To use this right, all of the following must be true:
with Your Account through use of pre-recorded or artificial voice messages
and/or the use of automatic telephone dialing systems, in order for Us to
1)
The purchase must have been made in Your home state or within 100 miles
service Your Account, prevent fraud, collect any amounts owed to Us by
of Your current mailing address, and the purchase price must have been
You, and otherwise conduct Our business with You. If You furnish Us with
more than $50.00. (Note: Neither of these are necessary if Your purchase
one or more cellular telephone numbers in connection with Your Account,
was based on an advertisement We mailed to You, or if We own the company
You represent You are or will be the cellular telephone subscriber with
that sold You the goods or services.)
respect to each such number, and that Your consent extends to all such
2)
You must have used Your Credit Card for the purchase. Purchases made with
numbers You provide to Us. You understand that the telephone calls We
cash advances from an ATM or with a check that accesses Your Credit Card
may initiate may result in charges to You by any cellular telephone,
account do not qualify.
internet, or other digital or electronic service to which You subscribe, and
3) You must not yet have fully paid for the purchase.
You understand and agree that You are solely responsible for the payment
of any such charges.
If all of the criteria above are met and You are still dissatisfied with the purchase,
contact Us in writing at P.O. Box 983, Temple, TX 76503.
Your Billing Rights: Keep this Document for Future Use
While We investigate, the same rules apply to the disputed amount as
discussed above. After We finish Our investigation, We will tell You Our
This notice tells You about Your rights and Our responsibilities under the Fair
decision. At that point, if We think You owe an amount and You do not pay, We
Credit Billing Act.
may report You as delinquent.
Copyright Oak Tree Business Systems, Inc., 2018. All Rights Reserved.
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