use my Account (whether or not I have told the Credit Union 
that such person will be using my Account), with or without 
the Card, PIN, that I will pay for any Purchases or Advances 
made by such person(s) on my Account and any finance or 
other charges imposed on those Purchases and Advances, 
even if the amount exceeds my permission.

If I have authorized someone to use my Account and I want 
to terminate that person’s access, I agree that I must notify 
you in writing; if possible, enclosing the Card(s) used by that 
person, cut in two. Once I have notified you that this individual 
is no longer authorized, even if the card is not recovered, my 
liability ceases for future charges made to the Account. I may 
request you to cancel all cards and establish a new Account 
for me. If I request you to terminate the use of my PIN by 
another person, you will cancel my PIN and issue a new PIN.

P.  Transfer of Account. I cannot transfer or assign my Account 

to any other person or Trust.

Q. Change of Address. I will advise you promptly if I change 

my mailing address. All written notices and statements from 
you to me will be considered given when placed in the United 
States mail, postage prepaid, and addressed to me at my 
current address as it appears in your records.

R. Irregular Payments. You may accept late payments or 

partial payments, or checks, drafts or money orders marked 
“Payment in Full” without losing any of your rights under this 
Agreement.

S  Security. Other than for a Share Secured Account, no 

security interest is taken in my property to secure payment. 
However, collateral securing other loans with you may also  
secure this loan, except for my principal dwelling and  
household goods. 

T.  Amendments. You may change any part of this Agreement at 
any time, as long as, when applicable, you give me advance 
written notice as required by law. Any change in terms will 
apply to my outstanding balance existing as of the effective 
change date as well as to all charges made after that date.

U. Cancellation. I can cancel my Account at any time by  

returning to you my Card, along with a letter requesting that 
you cancel my Account. You may cancel this Agreement at 
any time. However, my obligation under this Agreement and 
any charges made under it prior to cancellation will  
continue to apply until I have paid you all the money I owe on 
the Account.

V.  Skip Payment. At your option, you may not require me to 

make a Minimum Payment during certain designated billing 
cycles. If I do not make my Minimum Payment as provided 
in the Agreement, I understand you will continue to apply 
Finance Charges to my Account. Beginning with the billing  
cycle following a skip payment, I agree that all of the  

provisions of this Agreement shall apply.

W. Automatic Payment Option. If I have requested this optional 
service, you will automatically transfer the amount of the  
payment requested from my designated Credit Union 
account. The payment option can be designated by me as 
one of the following: (1) Full Payment; (2) Minimum Periodic 
Payment; or, (3) a specified dollar amount. If the amount I 
have designated for payment is greater than the amount of 
available funds being on deposit on the day of the transfer 
the transfer has been made, the transfer will be reversed. If I 
make additional payments during the billing cycle, the  
automatic transfer may still take place on the statement  
closing date. You may cancel this service if the transfers are 
not honored because of insufficient and/or unavailable funds 
in my deposit account and you will notify me of this action. 
I may cancel this service at any time, however I understand 
that one more transfer(s) may occur if I do not provide  
sufficient notice for the Credit Union to input the change.

X. Liability for Unauthorized Use. I may be liable for the  

unauthorized use of my Card. I will not be liable for any  
unauthorized use that occurs after I notify Payment Systems 
for Credit Unions orally, of the loss, theft or possible  
unauthorized use. In any case, my liability will not exceed 
$50.00. I may report a lost or stolen Card by calling 1-(800) 
449-7728.

Y.  Illegal Transactions. I understand that I am not permitted to 
use my Account for any illegal transaction, such as unlawful 
gambling. The legality of any transaction will not affect my 
liability for the balances I have incurred on my account.

Z  Lost and Stolen Cards. If I report my Card lost or stolen as 

provided in paragraph Z, then recover or find my Card and fail 
to notify you immediately of the recovery at 1-800 449-7728, I 
agree to pay you the amount of any reward previously paid by 
you to a retail merchant to recover the Card I reported as lost 
or stolen.

AA. Other Provisions. Each of us who signed the Application and/
or requested the Account or use the Account is individually 
and jointly obligated for all payments due under this Agree-
ment. The Account has been applied for, considered, ap-
proved and issued in the State of California and all extensions 
of credit are being made from the State of California. I agree 
that this Agreement shall be governed by and interpreted un-
der California and Federal Law. If any part of this Agreement 
is not valid, all other parts will remain enforceable.

My Billing Rights - Keep This Notice for Future Use

This notice contains important information about my rights 
and your responsibilities under the Fair Credit Billing Act.

What To Do If I find A Mistake On My Statement

If I think there is an error on my statement, I should write to 
you at:

Provident Credit Union 
P.O. Box 8007 
Redwood City, CA 94063-0907

Or I may also contact you on the web: providentcu.org

In my letter, I will give you the following information:

•  Account information: My name and account number.

•  Dollar amount: The dollar amount of the suspected error.

•  Description of problem: If I think there is an error on my bill, 
describe what I believe is wrong and why I believe it is a 
mistake.

I must contact you:

•  Within 60 days after the error appeared on my statement.

•  At least 3 business days before an automated payment is 
scheduled, if I want to stop payment on the amount I think 
is wrong.

I must notify you of any potential errors in writing [or  
electronically]. I may call you, but if I do you are not required 
to investigate any potential errors and I may have to pay the 
amount in question.

What Will Happen After You Receive My Letter

When you receive my letter, you must do two things:

1. Within 30 days of receiving my letter, you must tell me that 
you received my letter. You will also tell me if you have 
already corrected the error.

2. Within 90 days of receiving my letter, you must either  

correct the error or explain to me why you believe the bill 
is correct. While you investigate whether or not there has 
been an error:

•  You cannot try to collect the amount in question, or report 

me as delinquent on that amount.

•  The charge in question may remain on my statement, and 
you may continue to charge me interest on that amount.

•  While I do not have to pay the amount in question, I am 

responsible for the remainder of the balance.

•  You can apply any unpaid amount against my credit limit. 
After you finish your investigation, one of two things will 
happen:

If you made a mistake: I will not have to pay the amount in 
question or any interest or other fees related to the amount.

If you do not believe there was a mistake: I will have to pay the 
amount in question, along with applicable interest and fees. 
You will send me a statement of the amount I owe and the 
date payment is due. You may then report me as delinquent if 

I do not pay the amount you think I owe.

If I receive your explanation but still believe my bill is wrong, 
I must write to you within 10 days telling you that I still refuse 
to pay. If I do so, you cannot report me as delinquent without 
also reporting that I am still questioning your bill. You must tell 
me the name of anyone to whom you reported me as  
delinquent, and you must let those organizations know when 
the matter has been settled between us.

If you do not follow all of the rules above, I do not have to pay 
the first $50 of the amount I question even if my bill is correct.

My Rights If I Am Dissatisfied With My Credit Card Purchases

If I have a problem with the quality of property or services 
that I purchased with my credit card, and I have tried in good 
faith to correct the problem with the merchant, I may have the 
right not to pay the remaining amount due on the property or 
services.

To use this right, all of the following must be true:

1. I must have made the purchase in my home state or, if 

not within my home state, within 100 miles of my current 
mailing address; and, the purchase price must have been 
more than $50.00. (Note: Neither of these are necessary if 
my purchase was based on an advertisement you mailed to 
me, or if you own the company that sold me the goods or 
services).

2. I must have used my credit card for the purchase.  

Purchases made with cash advances from an ATM or 
with a check that accesses my credit card account do not 
qualify.

3. I must not yet have fully paid for the purchase.

If all of the criteria above are met and I am still dissatisfied with 
the purchase, I must contact you in writing at:

Provident Credit Union 
P.O. Box 8007 
Redwood City, CA 94063-0903

While you investigate, the same rules apply to the disputed 
amount as discussed above. After you finish your  
investigation, you will tell me your decision. At that point, if you 
think I owe an amount and I do not pay, you may report me as 
delinquent.      

VISA Variable Credit Card Agreement, Overdraft 
Protection Agreement, and Truth In Lending 
Disclosure Statement
This is your Cardholder Agreement with Provident Credit Union 
which outlines the terms to which you agree by requesting, 
receiving, signing, using or authorizing another to sign and use, 
any Credit Card, PIN, Credit Account, or other credit devices 
issued to you here under. This Agreement covers your Provident, 
College and Share Secured VISA credit cards. Please read this 
agreement and keep it for your records.

In this Agreement, the word “Account” means the Credit Card 
Account opened pursuant to this Agreement, including use of 
your Card or PIN. “Card” means one or more cards and “PIN” 
means Personal Identification Number issued with respect to the 
Account. The words “I,” “me,” “my” which also mean “we,” “us” 
and “our,” if more than one person, mean the person or persons 
who use or authorize the use of the VISA credit card or sign an 
application for a VISA credit card. The words “you,” “your,” and 
“yours” mean Provident Credit Union or its authorized agents. 

A. How to Use this Account. I can purchase or lease goods and 
services (“Purchases”) from a merchant up to my maximum 
credit limit by presenting my VISA credit card (“Card”) and 
signing a sales slip for the amount of the Purchase. I may also 
use my card:

1. To obtain cash loans (“Cash Advances”) up to my maximum 

credit limit from financial institutions that accept a VISA 
credit card;

2. By making withdrawals with this Card at an automated 

teller machine;

3. By granting merchants telephonic authorization to charge 

products or services to my account;

4. By using my Card to charge phone calls; or,

5. By issuing checks or drafts or the accrual of any charges 
against my checking account with Provident Credit Union 
in excess of its balance (if overdraft feature is available). 
Advances made by automatic transfer of funds directly into 
my pre-designated checking account(s) may be in multiples 
of $100.00 or in the amount of the overdraft depending on 
which option is available.

© 3/16 PCU   ID 11305

M-117987

 
6. By making transfers of available funds to another credit 

union account through the credit union’s Touch Tone Teller 
or Account Manager systems, or through direct contact 
with a credit union representative.

B. Maximum Credit Limit. You will provide me with notice of 
my maximum credit limit on my monthly billing statement, 
and I agree you may change my limit at any time. I agree 
never to use my Card when the use will exceed my maximum 
credit limit. I also agree that you are not obligated to extend 
to me credit for an amount that would make my outstanding 
balance exceed my maximum credit limit, or for any amount 
if my outstanding balance is already over the maximum credit 
limit. Any increases in my maximum credit limit I request may 
require that I make a written application for your approval. I 
will pay any amounts which exceed my maximum credit limit 
upon demand. You may re-evaluate my financial condition if I 
request a higher credit limit, or at any other time, and this may 
include obtaining a current credit bureau report or screening, 
and/or asking me for current financial information. Based on 
such a review, you may immediately increase, reduce or even 
revoke my Account without prior written notice.

C. Monthly Statement. If I have an outstanding debit or credit 
New Balance of $1.00 or more, or if there is any Finance 
Charge imposed during a billing cycle, you will send me 
a statement. I agree to pay you for all Purchases, Cash 
Advances, fees and charges, if any, and Finance Charges on 
my Account, all payable in United States dollars. Payment 
checks must be drawn on a financial institution or other entity 
domiciled in the United States.

Posting of my payment will be delayed if I present you a check 
drawn on a non United States domiciled financial institution 
or entity. The payment will not be credited to my Account 
until the funds have been collected in United States dollars. 
I agree to allow the Credit Union to debit my account for any 
collection and processing fees associated with handling this 
payment.

D. Finance Charges. You will impose Finance Charges as follows:

Purchases

1. A Finance Charge is imposed on purchases from the date 

of posting to my Account to the date of repayment.

2. For each billing cycle:

a) You multiply the Monthly Periodic Rate times the Average 
Daily Balance of Purchases. The Average Daily Balance 
is the sum of the daily unpaid balances of purchases on 
each day of the billing cycle covered by my current billing 
statement divided by the number of days in the billing cycle. 
Such unpaid balances are determined by deducting pay-
ments and credits applied against such unpaid balances 
and by adding new purchases, unpaid finance charges, 

fees and other charges, in each case, as of the date posted 
to my Account.

b) You multiply the Monthly Periodic Rate times the Average 
Daily Balance of Previous Billing Cycle Purchases. The 
Average Daily Balance of Previous Billing Cycle Purchases 
is the sum of the unpaid balances of purchases itemized 
on my last billing statement on each day of the billing cycle 
covered by my last billing statement divided by the number 
of days in the billing cycle. Such unpaid balances are deter-
mined by deducting payments and credits applied against 
such unpaid balances and by adding new purchases, 
unpaid finance charges, fees and other charges, in each 
case, as of the date posted to my Account.

divided by the number of days in the billing cycle. Such 
unpaid balances are determined by deducting payments 
and credits applied against such unpaid balances and by 
adding unpaid finance charges, in each case, as of the date 
posted to my Account and by adding new cash advances 
as of the date of the transaction.

c) You may also charge a one-time Finance Charge for cash 
advances equal to 3% of the amount of each new cash  
advances, with a minimum Finance Charge of $10.00 for 
advances at financial institutions, casinos, ATMs, wire 
funds, transfers to other credit union accounts, over drafts 
to your Credit Union check account or Western Union 
transfers.

c) You add the amounts determined under (a) and (b) to obtain 

d) You add the amounts determined under a), b) and c) to 

the Finance Charge on purchases.

3. A Finance Charge is not imposed on:

a) New purchases posted during a billing cycle if: (a) I paid the 
New Balance shown on the billing statement covering the 
preceding billing cycle by the Payment Due Date shown on 
the billing statement or such New Balance was zero and (b) 
I pay the New Balance shown on the billing statement item-
izing the new purchases by the Payment Due Date shown 
on that billing statement.

b) Old purchases previously posted for a billing cycle during 

which I pay the New Balance shown on the billing  
statement covering the preceding billing cycle by the  
Payment Due Date shown on that billing statement.

Cash Advances

1. A Finance Charge is imposed on cash advances as from 

the date of transaction to the date of repayment.

2. For each billing cycle:

a) You multiply the Monthly Periodic Rate times the  

Average Daily Balance of Cash Advances. The Average 
Daily Balance is the sum of the daily unpaid balances of 
cash advances on each day of the billing cycle covered by 
my current billing statement divided by the number of days 
in the billing cycle. Such unpaid balances are determined 
by deducting payments and credits applied against such 
unpaid balances and by adding unpaid finance charges, 
in each case, as of the date posted to my Account and by 
adding new cash advances as of the date of the  
transaction.

b) You multiply the Monthly Periodic Rate times the Average 
Daily Balance of Previous Billing Cycle Cash Advances. 
The Average Daily Balance of Previous Billing Cycle Cash 
Advances is the sum of the unpaid balances of cash 
advances itemized on my last billing statement on each 
day of the billing cycle covered by my last billing statement 

obtain the Finance Charge on Cash Advances.

3. All forms of cash advances, including the use of over drafts 
to your Credit Union checking account, regardless of the 
purpose for which used, shall be subject to the Finance 
Charges as set forth above.

E. Monthly Periodic Finance Charge, Monthly Periodic Rate,  

Annual Percentage Rate (APR), and Penalty Annual  
Percentage Rate.

Index 
Initial APR 

9.65%- 
18.00% 

APR Margin 

Index (Prime 
Prime Rate)  

Initial 
Periodic Rate

6.40%- 
14.75% 

Per WSJ* 

(APR is 
determined by  
Margin + Prime  
Rate^)

  The Monthly Periodic Rate and corresponding Annual 

Percentage Rate used in calculating the Monthly Periodic 
Finance Charge may increase or decrease during the term 
of this Agreement. Any such change will be based on an 
increase or decrease in the “Prime Rate” as published in The 
*Wall Street Journal. In the event that the Index ceases to be 
published, changes in my Annual Percentage Rate will be 
related to a comparable Index. You may waive an increase in 
my Annual Percentage Rate when such an increase can be 
made, but such waiver shall not be construed as a waiver of 
your right to increase the Annual Percentage Rate at a future 
date when entitled to do so.

  My Annual Percentage Rate is subject to change monthly 

on the first day of every month following one full billing cycle 
after an increase or decrease in the Index. These dates shall 
be known as “Adjustment Dates.” For example, if the Index 
changes anytime in the month of January, my new Annual 
Percentage Rate will go into effect on the first day of March 
and will be based on the Index as of the last day of January. 
Decreases in my Annual Percentage Rate in accordance 
with the terms of this Agreement are mandatory. Increases in 

my Annual Percentage Rate can be made at your discretion 
subject to the terms of this Agreement. If the Annual  
Percentage Rate increases or decreases, the Finance Charge 
will increase or decrease. Each change in the Annual  
Percentage Rate and Monthly Periodic Rate which is the 
result of an increase or decrease in the index will apply to any 
balance outstanding on the effective date of such change as 
well as to future Credit Purchases and Cash Advances.

  The initial periodic rate used in calculating my Monthly  

Periodic Finance Charge is set forth in the “Rate and Fee  
Table” I received under separate cover and which is made 
part of this Agreement. The Monthly Periodic Finance Charge 
for each billing cycle will be calculated by multiplying the  
Average Daily Balance (described below) of my Account for 
the billing cycle by the Monthly Periodic Rate. The Monthly 
Periodic Rate is determined by dividing the Annual  
Percentage Rate by 12 and will change when the Annual 
Percentage Rate changes. ^We add 6.4% to the Prime rate 
to determine the current lowest Daily Periodic Rate used in 
calculating the Finance Charge is 0.02644%, which currently 
corresponds to an Annual Percentage Rate of 9.65%. We add 
14.75% to the Prime to determine the highest Daily Periodic 
Rate used in calculating the Finance Charge is 0.04932%, 
which corresponds to an Annual Percentage Rate of 18.00%.

  Penalty Pricing: Interest Rate Adjustment Event. An Interest 
Rate Adjustment Event will occur whenever my Account is 
two Minimum Payments Past Due. You will change my inter-
est rate to a rate of 18.00% Annual Percentage Rate which is 
a Monthly Periodic Rate of 1.50% on the first day of the billing 
cycle following the cycle that was two Minimum Payments 
Past Due. The Maximum Penalty Annual Percentage Rate is 
18.00%. Then after I make 6 consecutive minimum payments 
to my account, you will change the interest rate to my original 
rate (the Annual Percentage Rate that was applicable to my 
account at the time it was opened and any subsequent mod-
ification to this rate). The Monthly Periodic Rate and Annual 
Percentage Rate change to the original rate will become 
effective the first day of the billing cycle following the 6th 
consecutive billing cycle.

  An increase in the Annual Percentage Rate will have the effect 
of decreasing the portion of any payment applied to reduction 
of the principal account balance and may, therefore, increase 
the number of minimum payments necessary to pay off the 
account.

F.  Promotional Programs. From time to time you may offer 

special programs based upon the use of my account. Any 
such program may offer me an opportunity to receive a lower 
Annual Percentage Rate on all or a portion of my balance. I 
understand that payments will be applied first to the portion of 
my balance with the lowest Annual Percentage Rate however, 
if I make a payment in excess of the minimum payment due in 

any cycle, the amount of the payment that exceeds the  
minimum payment will be applied to the highest Annual  
Percentage Rate on the account.

G. Periodic Billing Statements. If I have a balance on my Account 
at the end of a billing cycle, you will furnish a periodic billing 
statement (normally monthly) itemizing my purchases,  
advances and where applicable previous payments. 
H. Minimum Payment. I agree to pay each statement by 

remitting to you (within 25 days from the date of the billing 
statement’s closing date) the required minimum payment due, 
which will be the greater of 2.5% of the outstanding balance 
on my Account or $25.00. I have the option of making larger 
payments on the Account at any time without penalty.

I.  Fees and Charges.

1. Late Payment Fee: My Minimum Payment Due will be past 
due if it is not received by you on or before the Payment 
Due Date shown on each monthly statement. A fee will be 
charged to my Account, if at least the Minimum Payment 
Due, including unpaid payments, is not received by you 
within 15 days after the Payment Due Date.

2. Returned Payment Check Fee: If I make a payment by 

check and the check is returned unpaid for any reason, my 
Account will be charged $25 for each returned check.

3. Automatic Payment Reversal Fee: If I have elected to have 

the payment(s) on my Account automatically deducted from 
another credit union account and I fail to maintain sufficient 
funds in this account causing my payment to be reversed, 
my Account will be charged up to $25.

4. Fee for Documents: If I request a copy of a charge slip or 
other document not in connection with a billing error, you 
may charge my Account the cost of $25.00 per sale draft 
plus $6.00 processing fee.

5. Replacement or Additional Card Fee: If I request an  

additional card to replace the card initially issued to me, for 
any reason other than the card not being received by me or 
a defect in its manufacture, or if I request a card for an  
additional user on my account, you may charge my  
Account up to $10.00 per card.

J.  Charges Made in Foreign Currency. If I incur a charge in a 
foreign currency, the charge will be converted by VISA  
International into a United States Dollar amount. VISA  
International will use the procedures set forth in its Operating 
Regulations in effect at the time that the transaction is  
processed. Currently those regulations provide that the  
currency conversion rate to be used is either a wholesale 
market rate or a government mandated rate in effect one 
day prior to the processing date. The currency conversion 
rate in effect on the processing date may differ for the rate in 
effect on the transaction date or on the posting date. I will be 

charged a Foreign Transaction Fee equal to 3% of the  
transaction amount in U.S. currency.

K. Application of Payments. In accordance with applicable 

law, you will choose the order in which any payment will be 
applied to my account balances at the time the payment is 
made. I agree to make all payments on my account in United 
States Dollars. If the payments and credits received by you 
within 25 days from the billing date total less than the New 
Balance, or if a portion of the New Balance includes cash 
or loan advances, the next periodic statement will include a 
finance charge which I agree to pay.

L.  Events of Default. I will be in default under the Account and 

Agreement if any of the following events shall occur: (a) If I fail 
to comply with the minimum payment or any other terms or 
conditions of this Agreement or on any other obligation I have 
or will have with you; (b) if I try to exceed my credit limit  
without your permission; (c) if I have made any false or 
misleading statements on any credit application submitted 
to you; (d) if I should die or become insolvent; (e) if a petition 
should be filed or other proceedings should be started under 
the Federal Bankruptcy Code, by any authorized signer on the 
Account, whether or not you have been listed as a creditor; 
(f) if a Receiver should be appointed or a writ or order of 
attachment, levy or garnishment should be issued against me 
or any of my property, assets or income; or, (g) if you should 
consider that any debts due under this Agreement unsafe or 
not completely secure or if you should believe, in good faith, 
that the chances of my paying or performing all of my  
obligations under this Agreement have been impaired.

If default occurs under this Agreement, you may, at your 
option, without notice to me, terminate this Agreement, 
revoke my right to use the Card, and demand that I pay you 
immediately all sums which I owe you. Interest will continue to 
accrue at the contract rate after default.

M. Collection Costs. I agree that if you assign my Account to 

an independent collection agency, or file a lawsuit to collect 
amounts I owe you, that I will pay all costs, disbursements 
and reasonable attorneys’ fees incurred by you in legal 
proceedings to collect or enforce my indebtedness in the 
event of delinquency by me or in the event of a breach of any 
obligation by me, whether or not a lawsuit is filed.

N. Ownership of Card. Any Card or other credit instrument 
which you supply to me is your property and must be 
returned to you immediately upon demand or upon notice of 
cancellation of my Account.

O. Use of Card and Account by Others. If I so request, you may 
issue cards not only to me, but also to others who will only be 
authorized users of the Account. Such additional cards may 
be imprinted either with my name or with the names of the 
authorized user(s). I agree that if I permit another person to