FARMERS INSURANCE GROUPFEDERAL CREDIT UNION  

VISA® PLATINUM AGREEMENT AND DISCLOSURE  

In this Agreement and Disclosure Statement the words you, your and yours mean each and all of 
those who apply for the card or who sign or use the VISA. We, us, our and ours mean FARMERS 
INSURANCE GROUP FEDERAL CREDIT UNION. Card means the VISA PLATINUM CREDIT CARD issued to you 
and any duplicates and renewals we may issue. Account means your VISA PLATINUM account with 
us.  

See Visa Platinum Rates Summary on Back Page  

PAYMENT: You promise to pay us in lawful money of the United States at our office or at the address set forth on your periodic 
statement, all sums advanced to you or any person you permit to use this Account based on the terms and at the rates set forth 
herein. Payments will continue until you have paid in full the unpaid balance, FINANCE CHARGE and any other fees and 
charges.  

ANNUAL PERCENTAGE RATE and MONTHLY PERIODIC RATE: The ANNUAL PERCENTAGE RATE for the Visa Platinum is a 
10.99% non-variable rate, which corresponds to a Monthly Periodic Rate of .9165% to 18.00% which corresponds to a Monthly Periodic 
Rate of 1.50%.  The ANNUAL PERCENTAGE RATE (APR) you pay is based on your credit worthiness and payment history. Contract 
Rates are based on FICO Score. Actual Rate for each particular Card Holder is specified in Credit Card Addendum. Cardholder may request 
a “Rate Review”, limited to every six months and subject to prevailing rates. Penalty APR, is triggered when account becomes sixty (60) 
days late 

FINANCE CHARGES: The FINANCE CHARGE for a billing cycle will be the sum of the following 
components:  

CASH ADVANCE FEE: One (1) component of the FINANCE CHARGE is the Cash Advance Fee. Cash Advance transactions are subject to 
a Cash Advance Fee equal to 2% of the total dollar amount of Cash Advance transactions which are posted to your Account during the billing 
cycle, not to exceed the maximum rate permitted to federal credit unions during the billing cycle.  

MONTHLY PERIODIC FINANCE CHARGE: The second (2) component of the FINANCE CHARGE is the Monthly Periodic FINANCE 
CHARGE. The Monthly Periodic FINANCE CHARGE for each billing cycle will be calculated by multiplying the Average Adjusted Daily 
Balance (see below) for your Account for the billing cycle by the Monthly Periodic Rate for your Account. This will be used for each 
individual balance type.  

CALCULATION OF THE AVERAGE ADJUSTED DAILY BALANCE: We calculate your Average Adjusted Daily Balance (the balance 
which is subject to the Monthly Periodic Rate) as follows: The Average Adjusted Daily Balance for your Account is the average of the 
adjusted daily balances for each day of the billing cycle.  

To calculate the Adjusted Daily Balance each day, we take the following steps: We take the outstanding balance (all amounts you owe) at the 
start of the day. Then, in the sequence in which the amounts post to your Account, we add the amounts of all debits and subtract the amounts 
of all payments and credits which post to your Account that day. Payments are applied first to any unpaid FINANCE CHARGE from 
previous billing cycles, then to Late Charges, then to any Over Limit Charge, and then to the balance of your Account. Credits are applied 
first to the particular type of debit which is being credited, if any, and then to the balance of your Account. After applying payments and 
credits, we subtract any amount of the FINANCE CHARGE, Late Charges, and Over Limit Charge that remains unpaid. Then, we also 
subtract the amount of any Cash Advance transaction that posts to your Account on that day or on any previous day in the same billing cycle. 
The result is the Adjusted Daily Balance for that day.  

We add together all the Adjusted Daily Balances for each day in the billing cycle and divide the total by the number of days in the billing 
cycle. The result is the Average Adjusted Daily Balance for that billing cycle.  

Note that Cash Advance transactions, which are posted to your Account during a billing cycle, are not included in the Average Adjusted 
Daily Balance for that cycle, and are, therefore, not subject to the Monthly Periodic Rate during that cycle. However, they are included in the 
New Balance shown on the statement for that cycle, and are, therefore, also included in the outstanding balance at the start of the first day of 
the next billing cycle.  

Note also, that if the total of the payments and credits which is posted to your Account by the Payment Due Date shown on a statement  is 

equal to or exceed the New Balance shown on that statement, we  will not apply the Monthly Periodic Rate to your Account on your  next 

statement.  

Finally, if any statement shows a Previous Balance that is zero or is a credit balance, we will not apply the Monthly Periodic Rate to your 
Account on that statement. 

MINIMUM PAYMENT: You must pay at least the Current Amount Due by the Payment Due Date shown on your statement. By separate 
agreement, you may authorize us to charge the Current Amount Due automatically to your savings or checking account with us. You may,  

of course, pay more frequently, pay more, or pay the total New Balance in full and you will reduce your FINANCE CHARGES by doing so. 
You may authorize us to charge the total New Balance automatically to your savings or checking account with us. The Minimum Payment 
will be either (a) 2% of your total New Balance, or $30.00, whichever is greater, or (b) your total New Balance, if it is less than $30.00, plus 
(c) any portion of the Minimum Payment(s) shown on your prior statement(s), which remains unpaid. In addition, at any time your  Total 

 
 
 
 
 
 
New Balance exceeds your Credit Limit, you must pay the excess as well as any Over Limit Charge. Lastly, any Late Charge must also  be 

paid. Payments made by 5:00 p.m. of your due date will not be charged a late fee. If your current card balance represents multiple balances 
with different rates, payments will be applied to the portion of the card balance with the highest interest rate first. If we change our mailing 
address or method of handling your payments, we will not charge a late fee for 60 days – if that change causes a material delay  in the 

crediting of your payment.  

PERIODIC STATEMENT: Your statement will be sent out no less than 21 days before your due date. Your due date will be the 20th of each 
calendar month. Should your due date fall on a non-business or payment posting day, the payment will not be considered late until AFTER 
the first business/posting day that a payment may be posted. Your statement will include two calculations for amortization of payments: 1) 
Based on minimum payment how long it will take you to pay off your balance if you continue to make only the minimum payment amount, 
2) The payment amount that would be required to pay off your balance in 36 months.  

PENALTY FEES: Penalty fees will not exceed the dollar amount for incurred infraction. This will prohibit charging penalty fees that exceed 
the dollar amount associated with your violation. Your Credit Card will not incur inactivity fees. You will not be billed multiple fees based 
on a single transaction and/or violation.  

LATE CHARGES: If your minimum periodic payment is not received by us by the Payment Due Date as described above, your Account will 
be assessed a Late Charge of up to $30.00. If you incur a late charge and have not had any previous late payments within the past six (6) 
months, your late fee will be up to $25.00. If anytime during the past six (6) billing cycles your payment was late, the late fee will be up to 
$30.00. If your minimum payment amount is less than the previously noted amounts, your late payment fee will be the same amount as your 
minimum payment amount.  

AUTHORIZATION FOR OVER LIMIT COVERAGE: You may request Over Limit Coverage on your credit card(s). If you go over limit, 
you will incur a fee of up to $20.00. If the amount that you go over limit is less than $20, then the fee will be the amount by which you go 
over limit. This may increase your Annual Percentage Rate (APR). The Credit Union charges one fee per billing cycle, even if you go over 
your limit multiple times in the same billing cycle. Requesting the Over Limit Coverage does not guarantee the approval of the transaction. 
The transaction may be declined if your account is past due or significantly over your credit limit at the time of the transaction. Your Account 
will continue to be charged up to $20.00 for up to two subsequent billing cycles if your balance is not reduced below your limit. 

CASH ADVANCE: The maximum Cash Advance available on your Visa Platinum Card Account is the amount available on your credit 
limit, subject to the terms and conditions of this Agreement.  

CREDIT LIFE AND/OR DISABILITY INSURANCE: If credit insurance is offered on the Account and I 
request it, the premium will be calculated monthly by multiplying the premium rate by the 
outstanding balance on the Account. You will add the premium amount to the Account 
balance on the Billing Cycle Closing Date. The purchase of this insurance is entirely voluntary 
and is not required for credit approval. You acknowledge receiving a copy of the credit 
insurance documents which contains current rates and other information.  

followed. You may present the Card or Card Number to a participating VISA CREDIT CARD plan 
merchant, to us or to another financial institution, and sign the sales or authorize sales or 
cash advance draft. You may complete the transaction by using your Personal Identification 
Number (PIN) in conjunction with the Card in an Automated Teller Machine or other type of 
electronic terminal that provides access to the VISA Credit Card system. You may receive a Cash 
Advance by initiating a transfer from your VISA CREDIT CARD credit line through PC-TIED/Home 
Banking or FONLlNE/Voice Response. The Card may be used for transactions performed on the 
Internet.  

UNAUTHORIZED USE: You may be liable for up to $50.00 of unauthorized use of your Card. You will 
not be liable for unauthorized use that occurs after you notify us by telephone or in writing. 
You will call us at 800.877.2345, Monday through Friday, between 7:30 a.m. and 3:30 p.m. (PT), or 
800.543.5073, after hours/weekends/holidays. Your liability for unauthorized use may be zero in 
accordance with Visa International Incorporated regulations.  

SPECIAL RULES BY VISA: You have zero liability for unauthorized purchases on your Visa which is 
provided under the following conditions: your account is in good standing, you have 
exercised reasonable care in safeguarding your card from risk of loss or theft,  and you have 

not reported two or more incidents of unauthorized use  in the past 12 months.  

ILLEGAL USE OF CARD: Your card may not be used directly or indirectly for: 1) any illegal activity 
or transaction; or (2) any gambling, gaming, betting or similar activity or transaction. Further, 
you may not utilize your Card and/or Account for the purchase of any goods or services on 
the Internet that involve gambling, gaming, betting or any similar transaction or activity. 
However, in the event that a charge or a transaction described in this paragraph is approved, 
you will still be responsible for such charge. 

PREPAYMENT OR IRREGULAR PAYMENTS: Although you need only pay your minimum scheduled 
payments, you understand you have the right to repay your entire loan at any time without 
penalty. You understand that you will only be charged FINANCE CHARGES to the date you repay 
your entire loan. You may make larger payments without penalty and this may reduce the total 
amount of FINANCE CHARGES you will pay. Any partial payment of your loan will not delay your 
next scheduled payment due date(s). You understand that any payment that (a) delays or (b) 

 
accelerates the reduction of your loan balance will (a) increase or (b) decrease your FINANCE 
CHARGES.  

DEFAULT: You will be in default if: I) you do not pay your minimum scheduled payments on time; 2) 
you fail to live up to or otherwise breach any of the terms and conditions of this Agreement or 
any other loan or line of credit (except any loan, line of credit or other agreement secured by 
real property or where otherwise prohibited by federal or state law or regulation) you may 
have with us; 3) your creditworthiness is impaired; 4) the value of the security is impaired; 5) you 
die, become insolvent or are the subject of bankruptcy or receivership proceedings; or 6) there is a 
change of ownership of all or any part of the security. If you are in default, we may terminate 
this Agreement and demand immediate payment of the entire loan without notice to you. In the 
event of your default, and upon termination of your credit privileges, you understand and 
agree that FINANCE CHARGES will accrue at an ANNUAL PERCENTAGE RATE of 18% until you repay 
your entire loan.  

ACCELERATION AND COLLECTION COSTS: If you default, we may demand payment of the unpaid balance, 
FINANCE CHARGES, Late Charges, Overlimit Charges and Collection Costs, if any. You understand 
and agree that FINANCE CHARGES at the applicable ANNUAL PERCENTAGE RATE permitted under this 
Agreement will continue to accrue, until you repay your entire loan. You also agree to pay our 
reasonable attorney fees and court costs.  

FUTURE ADVANCES AND PURCHASES: You may request advances and make purchases in accordance 
with current loan policies up to your credit limit. You understand that all advances requested 
by you are subject to our approval.  

RESPONSIBILITY: You agree to repay us according to the terms of this Agreement for all advances, 
purchases, FINANCE CHARGES, Overlimit Charges, and Late Charges, if any, arising from the use of the 
Account by you or any other person you permit to use your Account, even if that person 
exceeds your permission. Any person using the Account is jointly and severally responsible with 
you.  

CREDIT LIMIT: We will establish a self-replenishing line of credit for you. You will not let the New 
Balance exceed this credit limit. You agree to advise us of any change in your financial 
condition which may affect your credit worthiness. You may request an increase in your credit 
limit, but credit limit increases must be approved by our loan officer.  

ELECTRONIC FUND TRANSACTIONS: In the event a use of your Card or the account number of the 
card constitutes an electronic funds transaction, the terms and conditions of our Electronic 
Services Disclosure and Agreement expands or amends this Agreement.  

TRANSACTION SLIPS: Your statement will identify the merchant, electronic terminal or financial 
institution at which transactions were made, but sales, Cash Advance, credit or other slips 
cannot be returned with the statement. You will retain the copy of such slips furnished at the 
time of the transaction in order to verify your monthly statement. We may make a reasonable 
charge for photostatic copies of slips you request.  

MERCHANT DISPUTES: We are not responsible for the refusal of any participating merchants or 
financial institutions to honor your Card. We are subject to claims and defenses, other than 
tort claims, arising out of goods and services you have purchased with the Card only if you 
have made a good faith attempt but have been unable to obtain satisfaction from the plan 
merchant, and (a) your purchase was made in response to an advertisement we sent or 
participated in sending to you, or (b) your purchase cost more than $50.00 and was made from a 
participating merchant in your state or within 100 miles of your current mailing address. Any 
other dispute you must resolve directly with the participating merchant.  

RETURNS AND ADJUSTMENTS: Merchants and others who honor the Card may give credit for 
returns or adjustments, and they will do so by sending us a credit, which will be posted to your 
Account. For 60 days, we will hold any credit or payment that exceeds what you owe us and 
apply this credit balance against future purchases and cash advances. If the credit or payment is 
in excess of $1.00, we will refund it to you upon written request or automatically transfer the 
funds to your checking account or savings account after sixty (60) days. 

PAYMENTS MARKED “PAID IN FULL”: We may accept checks, money orders, or other types of payment 
marked “paid in full “ or using other language to indicate full satisfaction of any indebtedness, 
without being bound by such language or waiving any rights under this Agreement. Full 
satisfaction of indebtedness shall be accepted by us only in a written agreement, signed by an 
authorized employee of the Credit Union.  

SCORECARD REWARDS: Are bonus points earned by using your FIFGCU Visa Platinum credit card with 
rewards or when you sign for your purchases with your Platinum Card.  Bonus points can be 
redeemed for valuable merchandise and travel awards. You receive one bonus point for each $1 
spent using your Visa Platinum card with rewards (balance transfer and cash advances are not 
eligible. Your bonus point totals are listed on your monthly statements. 

 
 
SURRENDER OF CARD(S): The Card(s) remain our property, and, if we request, you must surrender to 
us all cards we have issued on your Account.  

LOST OR STOLEN CARD, NOTIFICATION AND LIABILITY: You will notify us AT ONCE if you believe that the 
Card, Account number, PIN or any combination of the three has been lost or stolen by 
immediately calling us at 800.877.2345, Monday through Friday, between 7:30 a.m. and 3:30 p.m. (PST); or 
after hours/weekends/ holidays at  800. 543.5073. Telephoning is the best way of keeping your losses 
down. You understand that your total liability to us shall not exceed $50.00 for any Account 
and/or Card transactions resulting from the loss, theft or other unauthorized use of the 
Account and/or Card that occurs prior to the time you give notice to us. 

AUTOMATIC OVERDRAFT PROTECTION: We may clear any overdrafts from your Checking Account by an advance from your VISA 
CREDIT Card Account up to the amount required to clear your overdraft or in the amount available on your Credit Line, whichever is less, or 
in other such increments as we may, from time to time, determine subject to the terms of this Agreement. If you are not eligible to receive an 
advance from us under this Agreement, your checks may be returned and your Account could be closed.  

DELAY IN ENFORCEMENT: We can delay enforcing any of our rights under this Agreement without 
losing them.  

GOVERNING LAW: You understand and agree that this Agreement is made in California and shall be 
governed by the laws of the State of California to the extent that California law is not 
inconsistent with controlling federal law. You also understand that California’s choice of 
law rules shall not be applied if that would result in the application of non-California law.  

CHANGE IN TERMS: This Agreement is the contract which applies to all transactions on your 
Account even though the sales, cash advances, credit or other slips you sign or receive may 
contain different terms. You understand that we may amend, modify, add to, or delete from this 
Agreement any of its terms and conditions including the method of application and the amount 
of periodic FINANCE CHARGES, effective as to any unpaid balance outstanding and any subsequent 
advance, by mailing a notice of the change to you at your last known address. You also 
understand that any such notice will be mailed at least fifteen (15) days prior to the effective 
date of the change as required by Federal or other law.  Notice of a change in terms is required, 
but may be sent as late as the effective date of the change where the change has been agreed to, 
in writing by you, or the periodic FINANCE CHARGE has been increased because of your delinquency 
or default.  

LIMITATIONS ON APR INCREASES: We will not be allowed to increase the APR, fees, or finance charge 
during the first year of a new credit card account unless one of the following exceptions 
applies: 1) an increased APR, that will apply after a disclosed period of time, was disclosed at 
account opening, 2) an increase in an APR due to the completion of a workout arrangement or 
failure to comply with a workout arrangement; or 3) If a minimum payment is more than 60 days 
late, and we provide a 45-day advance notice of the increased APR. Promotional APRs will be at 
least 6 months in length.  

CREDIT INFORMATION: You authorize us to investigate your credit standing when opening, 
renewing or reviewing your Account, and you authorize us to disclose information regarding 
your Account to credit bureaus and other parties to the extent permitted by law.  

TERMINATION: We may terminate this Agreement upon adverse reevaluation of your credit 
worthiness or your failure to live up to any of the terms of this Agreement. Either you or we 
may terminate this Agreement for other good cause. In no event shall any termination relieve 
you of your obligation to repay fees incurred or sums already borrowed, collection costs, Late 
Charges, if any, Overlimit Charges, if any, and periodic FINANCE CHARGES.  

This notice contains important information about your rights and responsibilities under the 
Fair Credit Billing Act.  

YOUR BILLING RIGHTS 

NOTIFICATION IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR STATEMENT: If you think your statement is 
wrong, or if you need more information about a transaction on your statement, you must 
write to us on a separate sheet at the address listed on your statement. You should write to us 
as soon as possible. We must hear from you no later than sixty (60) days after we send you the 
first statement on which the error or problem appears. You can telephone us, but doing so will 
not preserve your rights. In your letter you should give us the following information:  

 Your name and account number.  

 The dollar amount of the specified 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.  

 
YOUR RIGHTS AND OUR RESPONSIBILITIES AFTER WE RECEIVE YOUR WRITTEN NOTICE: We must acknowledge 
your letter within 30 days, unless we have corrected the error by then. Within 90 days we must 
either correct the error or explain why we believe the statement was correct. After we receive 
your letter, we cannot try to collect any amount you question, or report you as delinquent. 
We can continue to bill you for the amount you question, including FINANCE CHARGES, and we 
can apply any unpaid amount against your credit limit. You do not have to pay any questioned 
amount while we are investigating, but you are still obligated to pay the parts of the statement 
that are not in question.  

If we find that we made a mistake on your statement, you will not have to pay any FINANCE 
CHARGES related to any questioned amount. If we did not make a mistake, you may have to pay 
FINANCE CHARGES, and you will have to make up any missed payments on the questioned amount. In 
either case, we will send you a statement of the amount you owe and the date that it is due.  

If you fail to pay the amount that we think you owe, we may report you as delinquent. However, 
if our explanation does not satisfy you and you write us within 10 days telling us that you still 
refuse to pay, we must tell anyone we report you to that you have a question about your 
statement. And, we must tell you the name of anyone we reported you to. We must tell anyone 
we report you to that the matter has been settled between you and us when it finally is.  

If we do not follow these rules, we cannot collect the first $50.00 of the questioned amount, 
even if your bill was correct.  

 
 
 
 
Visa Platinum Summary 

FARMERS INSURANCE GROUP FEDERAL CREDIT UNION  
VISA® PLATINUM DISCLOSURE 

 Interest Rates and Finance Charges 

Annual Percentage Rate (APR)  
For Purchases A Non-variable 
monthly periodic rate will be charged 
and the ANNUAL PERCENTAGE 
RATE (corresponding to the monthly 
periodic rate) may change/be higher, 
based on your credit qualifications. 

10.99% - 15.99%* The minimum ANNUAL PERCENTAGE 
RATE (APR) is as low as 10.99%, with a monthly periodic rate of .916% 
and the maximum ANNUAL PERCENTAGE RATE (APR) is 18.00% with 
a maximum monthly periodic rate of 1.50%. The ANNUAL PERCENTAGE 
RATE (APR) you pay is based on your credit worthiness and payment 
history. 

APR for Cash Advances 

10.99% - 15.99% Subject to credit worthiness 

APR for Balance Transfer 

10.99% - 15.99%** Subject to credit worthiness 

Penalty APR and When it Applies 

18.00%*  
This APR may be applied to your account if you: 
1) Make your payment 60 days late or:  
2) A returned payment causes your account to become 60 days late.  

How to Avoid Paying Interest on 
Purchases 

Your due date is at least 21 days after the close of each billing cycle. We will not 
charge you interest on purchases if you pay your entire balance by the due date 
each month and your previous balance is zero or a credit balance.  

Minimum Finance Charge 

$.50 if finance charges are due on account. 

For Credit Card Tips from  
the Consumer Financial 
Protection Bureau 

To learn more about factors to consider when applying for, or using a credit card, 
visit the website of the Consumer Financial Protection Bureau at 
http://www.consumerfinance.gov/learnmore  

 Fees 

Annual Fee / Set Up / Maintenance 

 $0 

Transaction Fees 

  Balance Transfer  
  Cash Advance  

Foreign Transactions  

Penalty Fees 

Late Payment  

  Over Limit 
  Returned Payment 

Other Fees 

  Sales Draft 
  Picture Card 
  Replacement Card 

Up to 2% of amount transferred  
Up to 2% of advance 
Up to 1% of each foreign transaction amount in U.S. Dollars 

Up to $30.00 
Up to $20.00 
Up to $35.00 

$10.00 
$10.00 
  $5.00 (first replacement is FREE) 

*Contract Rates are based on FICO Score. Actual Rate for each particular Card Holder is specified in Credit 
Card Addendum. Cardholder may request a “Rate Review”, limited to every six months and subject to prevailing 
rates. Penalty APR, is triggered when account becomes sixty (60) days late, see agreement for details. 

**Balance Transfers; the balance transfer amount of other FIGFCU credit cards, will retain the current rate, (i.e. 
Visa Platinum 10.99%,  MasterCard Gold 11.99%, MasterCard Classic 13.99%).   

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

Rates are current as of 04/01/2013 and are subject to change.