CREDIT CARD ACCOUNT AGREEMENT
CLEARVIEW
AND FEDERAL DISCLOSURE STATEMENT
FEDERAL CREDIT UNION
THIS IS YOUR CREDIT CARD AGREEMENT AND IT INCLUDES NECESSARY FEDERAL TRUTH-IN-LENDING
8805 University Boulevard
DISCLOSURE STATEMENTS, PLATINUM MASTERCARD® AND PREMIUM WORLD MASTERCARD
Moon Township, PA 15108
AGREEMENTS, AND ANY SPECIAL INSTRUCTIONS REGARDING THE USE OF YOUR PLATINUM
MASTERCARD® AND PREMIUM WORLD MASTERCARD® CREDIT CARDS, 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.
Interest Rate and Interest Charges
Annual Percentage Rate (APR)
Platinum Mastercard®:
% Introductory APR until December 31, 2022.
For Purchases
After that, Your APR will be
%
This APR will vary with the market based on the Prime Rate.
Premium World Mastercard®:
%
Your APR will vary with the market based on the Prime Rate.
Annual Percentage Rate (APR)
Platinum Mastercard
%
For Balance Transfers
Your APR will vary with the market based on the Prime Rate.
Premium World Mastercard®
%
Your APR will vary with the market based on the Prime Rate.
Annual Percentage Rate (APR)
Platinum Mastercard®:
%
For Cash Advances
Your APR will vary with the market based on the Prime Rate.
Premium World® Mastercard®:
%
Your APR will vary with the market based on the Prime Rate.
Paying Interest
We will not charge You interest on purchases if You pay Your entire balance owed each
month within 25 days from Your statement closing date. We will begin charging interest on
cash advances and balance transfers on the transaction date.
For Credit Card Tips from
To learn more about factors to consider when applying for or using a Credit Card,
the Consumer Financial
visit the website of the Consumer Financial Protection Bureau at
Protection Bureau
http://www.consumerfinance.gov/learnmore.
Fees
Transaction Fees
Cash Advance
3.00% of each advance.
Foreign Transaction
Up to 2.00% of each foreign currency transaction in U.S. Dollars.
Up to 2.00% of each U.S. Dollar transaction that occurs in a foreign country.
Penalty Fees
Late Payment
Up to $35.00
Returned Payment
Up to $35.00
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., 2018-2021. All Rights Reserved.
Page 1 of 4
OTBS 016CC-Variable CLEA (10/21)
DEFINITIONS. In this Agreement, the references to "We," "Us," "Our" and "Credit Union" mean Clearview Federal Credit Union. The words "You" and "Your" mean each person
who
accepts
this Agreement or uses the Platinum Mastercard and Premium World Mastercard Credit Card(s). The words "Card" and "Credit Card" mean the Platinum
Mastercard and Premium World Mastercard Credit Card issued to You by Us and any duplicates or renewals. "Convenience Checks" mean 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, as the Borrower, under a Credit Card Agreement ("Account"), understand that the following terms and conditions constitute Our Agreement with You.
Your Account may be accessible through a variety of means which could include advance request forms, vouchers, checks, charge slips, convenience checks, Credit Cards
and the like. Regardless of the access means, 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
Monthly Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
Index
for Purchases
Margin
for Purchases
Platinum Mastercard
%
%
%
%
Premium World® Mastercard
%
%
%
%
Variable Rate
Monthly Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
Index
for Balance Transfers
Margin
for Balance Transfers
Platinum Mastercard
%
%
%
%
Premium World® Mastercard
%
%
%
%
Variable Rate
Monthly Periodic Rate
ANNUAL PERCENTAGE RATE
Credit Card
Index
for Cash Advances
for Cash Advances
Margin
Platinum Mastercard
%
%
%
%
Premium World® Mastercard
%
%
%
%
USE OF YOUR CARD. You may use Your Card to buy goods and services in any
whichever Card We wish. Except as required by law, the order in which We may
place that it is honored and to get cash advances at participating financial institutions.
apply payments is at Our discretion.
You agree not to use Your Card for illegal transactions including, but not limited to,
advances made for the purpose of gambling and/or wagering where such practices
Any unpaid portion of the Finance Charge will be paid by subsequent payments and
are in violation of applicable state and/or federal law.
will not be added to Your principal balance. You understand that any delay in the
repayment of Your unpaid balance will increase Your periodic Finance Charges and
SECURITY. You acknowledge that You own any shares and/or collateral pledged as
any acceleration in the repayment of Your unpaid balance will decrease Your
security and that there are no other liens against them other than Ours. You agree
periodic Finance Charges.
to perform all acts which are necessary to make Our security interest in the shares
and/or collateral being pledged enforceable.
Platinum
Mastercard
and
Premium
World
Mastercard
Minimum
Payments
will
be an amount equal to 2.00% of Your new unpaid Platinum Mastercard or Premium
OTHER SECURITY. Collateral (other than household goods or any dwelling)
World Mastercard balance at the end of each billing cycle, subject to the lesser
given as security under this Agreement or for any other loan You may have with
of $20.00 or Your balance, plus any portion of the Minimum Payments shown on
Us will secure all amounts You owe Us now and in the future if that status is
prior statement(s) which remains unpaid, plus any amount that exceeds Your
reflected in the "Truth-In-Lending Disclosure" in any particular Agreement
approved Credit Limit.
evidencing such debt.
You may, by separate agreement, authorize Us to charge Your payment directly to
LIEN ON SHARES. You grant and consent to a lien on Your shares with
Your share or share draft account.
Us (except 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
LATE CHARGE. If Your payment is one or more days late, You will be charged the
Card balance.
lesser of: (a) $25.00 (this amount will be $35.00 if You have incurred a late charge
within 6 months of previously incurring a late charge); or (b) the amount of the
LINE OF CREDIT LIMITS. You will be notified of each specific Credit Limit for each
required minimum payment.
Credit Card for which You are approved. Unless You are in default, any Credit Limits
established for You will generally be self-replenishing as You make payments.
RETURNED PAYMENT FEE. You will be charged a fee for any check (or other
negotiable instrument used for payment) which is returned unpaid. The fee will be
You will keep Your unpaid balance within Your Credit Limit set by Us, and You
an amount equal to the lesser of: (a) $25.00 (this amount will be $35.00 if You
understand that We may decline any transaction that would exceed that Credit Limit.
have incurred a returned payment fee within 6 months of previously incurring a
In addition, You will pay any amount over Your Credit Limit on Our demand whether
returned payment fee); or (b) the required minimum payment amount for the
or not We authorize the advances which caused You to exceed Your Credit Limit.
returned payment.
Even if Your unpaid balance is less than Your Credit Limit, You will have no credit
available during any time that any aspect of Your Account is in default.
OTHER FEES AND CHARGES. You will be charged the following fees associated
with the use of Your Card: (a) $30.00 for each replacement Card that You request
JOINT ACCOUNTS. Each Borrower will be responsible, jointly and severally, for the
be provided on an expedited basis; (b) $5.00 for each replacement Personal
repayment of any amounts owed. If any Account access device, such as a Personal
Identification Number (PIN) that You request; (c) $5.00 for each sales draft or
Identification Number (PIN) is requested and approved, You understand that any
statement copy You request; and (d) a cash advance fee FINANCE CHARGE in
such Account access device(s) will be mailed only to the primary Borrower at the
an amount equal to 3.00% of each advance obtained at a financial institution
address that We have on file for You. We may refuse to follow any instructions which
and/or ATM.
run counter to this provision.
FINANCE CHARGES. In the case of any transactions under Your Platinum
MINIMUM MONTHLY PAYMENTS (PAYMENT SCHEDULE). Though You need
Mastercard and Premium World Mastercard the balances subject to the periodic
only pay the Minimum Monthly Payments, You understand that You have the right
Finance Charge are the average daily transactions balances outstanding during the
to repay at any time without penalty. You also understand that You will only be
month (including new transactions). To get the average daily balance, We take the
charged periodic Finance Charges to the date You repay Your entire balance. You
beginning balance each day, add any new purchases, cash advances, balance
may make larger payments without penalty. Any partial payment or prepayment will
transfers, insurance premiums, debit adjustments or other charges and subtract any
not delay Your next scheduled payment. All payments to Us must be in lawful money
payments, credits and unpaid Finance Charges. This gives Us the daily balance.
of the United States. Unless instructed otherwise, We may apply each payment to
Then, We add up all the daily balances for the billing cycle and divide them by the
Copyright Oak Tree Business Systems, Inc., 2018-2021. All Rights Reserved.
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OTBS 016CC-Variable CLEA (10/21)
number of days in the billing cycle. The Finance Charge for a billing cycle is
INTEGRATED DOCUMENTS. Any separate sheet of paper that pertains to Your
computed by multiplying the average daily balance subject to a Finance Charge by
Account, and is delivered together with this Agreement or at a later date becomes
the Monthly Periodic Rate.
an integrated part of this Agreement and Disclosure.
You can avoid Finance Charges on purchases by paying the full amount of the
CONSENT TO AGREEMENT. You acknowledge receipt of a copy of this
entire balance owed each month within 25 days of Your statement closing date.
Agreement. By signing the application; or by using Your Account or any Account
Otherwise, the new balance of purchases, and subsequent purchases from the
access device; or by authorizing another to use Your Account, You agree to and
date they are posted to Your Account, will be subject to a Finance Charge. Cash
accept its terms.
advances and balance transfers are always subject to a Finance Charge from
the date of the transaction.
UPDATING AND DISCLOSING FINANCIAL INFORMATION. You will provide facts
to update information contained in Your original Account application or other financial
Platinum Mastercard purchase transactions are subject to a discounted
information related to You, at Our request. You also agree that We may, from time
Introductory Monthly Periodic Rate of
% (corresponding ANNUAL
to time, as We deem necessary, make inquiries pertaining to Your employment,
PERCENTAGE RATE
%) until December 31, 2022. Upon the expiration
credit standing and financial responsibility in accordance with applicable laws and
of the Introductory Rate period, the Monthly Periodic Rate applicable to Your entire
regulations. You further agree that We may give information about the status and
balance of purchases existing at that time and in the future will immediately increase
payment history of Your Account to consumer credit reporting agencies, a
to a Monthly Periodic Rate of
% (corresponding ANNUAL
prospective employer or insurer, or a state or federal licensing agency having any
PERCENTAGE RATE of
%).
apparent legitimate business need for such information.
VARIABLE RATE. All advances are subject to a Variable Rate which is based on
TERMINATION. Either You or We may cancel Your Account or any particular
the highest Prime Rate as published in the money rates section of The Wall Street
Credit Card of Your Account, at any time, whether or not You are in default. You
Journal in effect on the day that any Introductory Rate Period expires, and
will, in any case, remain liable to pay any unpaid balances according to the terms
subsequently, on the last day of each month of each year ("Index") plus Our Margin.
of Your Account.
The Index plus the Margin equals the Interest Rate. Changes in the Index will cause
changes in the Interest Rate on the day that any Introductory Rate Period expires,
GOVERNING LAW. This Agreement is controlled and governed by the laws of the
and subsequently, on the first day of the billing cycle immediately following any such
Commonwealth of Pennsylvania except to the extent that such laws are inconsistent
change in the Index. Increases or decreases in the Interest Rate will cause like
with controlling federal law.
increases or decreases in the Finance Charge and will affect the number of Your
regularly scheduled payments. Your Interest Rate will never be greater than 18.00%,
OWNERSHIP. Your Card remains Our property and may be cancelled by Us at any
and will apply to Your remaining principal balance.
time without notice. You agree to surrender Your Card and to discontinue its use
immediately upon Our request.
PERIODIC STATEMENTS. On a regular basis, You will receive a statement showing all
transactions on Your Account including amounts paid and borrowed since Your last
ISSUANCE OF A PERSONAL IDENTIFICATION NUMBER. We will issue, upon
statement. We will mail You a statement each month in which there is a debit or credit
Your request, a Personal Identification Number (PIN) for use with participating
balance or when a Finance Charge is imposed. We need not send You a statement if We
ATMs. This PIN is confidential and should not be disclosed to anyone. You may
feel Your Account is uncollectible or if We have started collection proceedings against You
use Your PIN to access Your Account and all sums advanced will be added to
because You defaulted. Each statement is deemed to be a correct statement of account
Your balance. In the event a use of Your PIN constitutes an Electronic Fund
unless You establish a billing error pursuant to the Federal Truth-In-Lending Act.
Transfer, the terms and conditions of Your Electronic Fund Transfer Agreement
may also affect Your rights.
OUR RESPONSIBILITIES TO HONOR CONVENIENCE CHECKS. We are under no
obligation to honor Your Convenience Checks if: (1) by paying a Convenience Check,
EFFECT OF AGREEMENT. Even though the sales, cash advance, credit or other
You would exceed Your Credit Limit; (2) Your Cards or Convenience Checks have been
slips You may sign or receive when using Your Card contain terms, this Agreement
reported lost or stolen; (3) Your Account has been cancelled or has expired. If a
is the contract which solely applies to all transactions involving the Card.
postdated Convenience Check is paid and, as a result, any other Convenience Check
is returned unpaid, We are not responsible for any resulting loss or liability.
UNAUTHORIZED USE. You may be liable for the unauthorized use of Your Card.
You will not be liable for the unauthorized use that occurs after You notify Us of the
DEFAULT. You will be in default if: (a) You do not make any payment or perform any
loss, theft, or possible unauthorized use by calling Us at (800) 449-7728 or by writing
obligation under this Agreement, or any other agreement that You may have with Us; or
to Us at the address shown in this Agreement. In any case, Your liability will not
(b) You should die, become involved in any insolvency, receivership or custodial
exceed $50.00.
proceeding brought by or against You; or (c) You have made a false or misleading
statement in Your credit application and/or in Your representations to Us while You owe
REFUSAL TO HONOR CARDS OR CONVENIENCE CHECKS. We are not liable for the
money on Your Account; or (d) A judgment or tax lien should be filed against You or any
refusal or inability of merchants, financial institutions and others to accept the Cards or
attachment or garnishment should be issued against any of Your property or rights,
Convenience Checks, or electronic terminals to honor the Cards or complete a Card
specifically including anyone starting an action or proceeding to seize any of Your funds
withdrawal, or for their retention of the Cards or Convenience Checks.
on deposit with Us; and/or (e) We should, in good faith, believe Your ability to repay Your
indebtedness hereunder is or soon will be impaired, time being of the very essence.
FOREIGN TRANSACTIONS (EXCEPT PREMIUM WORLD MASTERCARD
For transactions initiated in foreign currencies, the exchange rate between the
Upon any occurrence of default, We may, to the extent permitted by law, cancel
transaction currency and the billing currency (U.S. dollars) will be: (a) a rate
Your rights under this Agreement, require the return of all access devices and
selected by Mastercard from the range of rates available in wholesale currency
declare the entire balance of Your Account immediately due and payable, without
markets for the applicable central processing date, which rate may vary from the
prior notice or demand.
rate Mastercard itself receives; or (b) the government-mandated rate in effect for
the applicable central processing date. For transactions initiated in a foreign
COLLECTION COSTS. In the event collection efforts are required to obtain payment
currency, and for transactions occurring in foreign countries and initiated in U.S.
on this Account, and to the extent permitted by law, You agree to pay all court costs,
Dollars, You will be charged 2.00% of the final settlement amount. Transactions
private process server fees, investigation fees or other costs incurred in collection
initiated via the internet with merchants or other parties located outside of the
and reasonable attorneys' fees incurred in the course of collecting any amounts
United States of America are deemed to occur in the foreign country where the
owed under this Agreement or in the recovery of any collateral.
merchant or other party is located.
ENFORCEMENT. We do not lose Our rights under this or any related agreement if
TRANSACTION SLIPS. Your monthly statement will identify that merchant,
We delay enforcing them. We can accept late payments, partial payments or any
electronic terminal or financial institution at which transactions were made, but sales,
other payments, even if they are marked "paid in full" without losing any of Our rights
cash advances, credit or other slips cannot be returned with the statement.
under this Agreement. If any provision of this or any related agreement is determined
to be unenforceable or invalid, all other provisions remain in full force and effect.
LOST CARDS OR CONVENIENCE CHECKS. To report lost or stolen Credit Cards
or Convenience Checks, You will immediately call Us at (800) 449-7728 or write to
NOTIFICATION OF ADDRESS CHANGE. You will notify Us promptly if You move
Us at the address shown in this Agreement.
or otherwise have a change of address.
CREDITS. If a merchant who honors Your Card gives You credit for returns or
CHANGE IN TERMS. We may change the terms of this Agreement by mailing or
adjustments, they will do so by sending Us a slip which will be posted to Your
delivering to You written notice of the changes as prescribed by the Federal Truth-
Account. If Your credits and payments exceed what You owe Us, We will hold and
In-Lending Act. To the extent permitted by law, the right to change the terms of this
apply this credit against future purchases and cash advances, or if it is $1.00 or
Agreement includes, but is not limited to, the right to change the periodic rate
more refund it on Your written request or automatically deposit it to Your share
applicable to Your unpaid balance and/or future advances.
account after six months.
Copyright Oak Tree Business Systems, Inc., 2018-2021. All Rights Reserved.
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OTBS 016CC-Variable CLEA (10/21)
Your Billing Rights: Keep this Document for Future Use
We can apply any unpaid amount against Your Credit Limit.
This notice tells You about Your rights and Our responsibilities under the Fair
After We finish Our investigation, one of two things will happen:
Credit Billing Act.
If We made a mistake: You will not have to pay the amount in question or any
What To Do If You Find A Mistake On Your Statement
interest or other fees related to that amount.
If We do not believe there was a mistake: You will have to pay the amount
If You think there is an error on Your statement, write to Us at Our address shown in
in question, along with applicable interest and fees. We will send You a
this Agreement. In Your letter, give Us the following information:
statement of the amount You owe and the date payment is due. We may
then report You as delinquent if You do not pay the amount We think You owe.
Account information: Your name and Account number.
Dollar amount: The dollar amount of the suspected error.
If You receive Our explanation but still believe Your bill is wrong, You must write to
Description of problem: If You think there is an error on Your bill, describe
Us within 10 days telling Us that You still refuse to pay. If You do so, We cannot
what You believe is wrong and why You believe it is a mistake.
report You as delinquent without also reporting that You are questioning Your bill.
We must tell You the name of anyone to whom We reported You as delinquent, and
You must contact Us:
We must let those organizations know when the matter has been settled between
Us. If We do not follow all of the rules above, You do not have to pay the first $50.00
Within 60 days after the error appeared on Your statement.
of the amount You question even if Your bill is correct.
At least 3 business days before an automated payment is scheduled, if You
want to stop payment on the amount You think is wrong.
Your Rights If You Are Dissatisfied With Your Credit Card Purchases
You must notify Us of any potential errors in writing. You may call Us, but if You do
If You are dissatisfied with the goods or services that You have purchased with Your
We are not required to investigate any potential errors and You may have to pay the
Credit Card, and You have tried in good faith to correct the problem with the
amount in question.
merchant, You may have the right not to pay the remaining amount due on the
purchase. To use this right, all of the following must be true:
What Will Happen After We Receive Your Letter
1)
The purchase must have been made in Your home state or within 100 miles
When We receive Your letter, We must do two things:
of Your current mailing address, and the purchase price must have been
more than $50.00. (Note: Neither of these are necessary if Your purchase
1)
Within 30 days of receiving Your letter, We must tell You that We received Your
was based on an advertisement We mailed to You, or if We own the company
letter. We will also tell You if We have already corrected the error.
that sold You the goods or services.)
2)
Within 90 days of receiving Your letter, We must either correct the error or
2)
You must have used Your Credit Card for the purchase. Purchases made with
explain to You why We believe the bill is correct.
cash advances from an ATM or with a check that accesses Your Credit Card
account do not qualify.
While We investigate whether or not there has been an error:
3)
You must not yet have fully paid for the purchase.
We cannot try to collect the amount in question, or report You as delinquent
If all of the criteria above are met and You are still dissatisfied with the purchase,
on that amount.
contact Us in writing at Our address shown in this Agreement.
The charge in question may remain on Your statement, and We may continue
to charge You interest on that amount.
While We investigate, the same rules apply to the disputed amount as discussed above.
While You do not have to pay the amount in question, You are responsible for
After We finish Our investigation, We will tell You Our decision. At that point, if We think
the remainder of Your balance.
You owe an amount and You do not pay, We may report You as delinquent.
Copyright Oak Tree Business Systems, Inc., 2018-2021. All Rights Reserved.
Page 4 of 4
OTBS 016CC-Variable CLEA (10/21)