terCard® for the processing cycle in which the transaction is processed, and 
may be increased by an adjustment factor established from time to time by 
Visa®/MasterCard®, The  rate used on the processing date may differ from 
the rate that would have been used on the purchase or cardholder statement 
posting. 

If you effect a transaction at a merchant that settles in a currency other than 
U.S. dollars, VISA®/ MasterCard® will convert the charge into a U.S. dollar 
amount. Visa®/MasterCard®  will  use  its  currency  conversion  rate  used  to 
determine the transaction amount in U.S. dollars for such transactions is 
generally either a government mandated rate or a wholesale rate determined 
by Visa®/MasterCard® for the processing cycle in which the adjustment fac-
tor established from time to time by Visa®/MasterCard®. The currency con-
version rate used on the processing date may differ from the rate that would 
have been used on the purchase or cardholder statement posting date.
Illegal Transactions. Your Card and Account may be used only for valid 
and lawful purposes. If you use, or allow someone else to use your Card and 
Account for any other purpose you will be responsible for such use and may 
be required to reimburse us for all amounts or expenses we pay as a result of 
such use.

YOUR BILLING RIGHTS  
KEEP THIS NOTICE FOR FUTURE USE

21. 

This notice contains important information about your rights and our responsi-
bilities under the Fair Credit Billing Act.

Notify Us In Case of Errors or Questions About Your Bill
If you think your bill is wrong, or if you need more information about a transaction 
on your bill, write us [on a separate sheet] at the address listed on your bill. Write 
to us as soon as possible. We must hear from you no later than 60 days after we 
sent you the first bill on which the error or problem appeared. You can telephone 
us, but doing so will not preserve your rights.

•	
•	
•	

In your letter, give us the following information:
Your name and account number.
The dollar amount of the suspected error.
Describe  the  error  and  explain,  if  you  can,  why  you  believe  there  is  an 
error.  If  you  need  more  information  describe  the  item  you  are  not  sure 
about.

If  you  have  authorized  us  to  pay  your  credit  card  bill  automatically  from  your 
savings or checking account, you can stop the payment on any amount you think 
is wrong. To stop the payment your letter must reach us three business days before 
the automatic payment is scheduled to occur.

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

After we receive your letter, we cannot try to collect any amount you question, or 
report you as delinquent. We can continue to bill you for the amount you ques-
tion,  including  Interest  charges,  and  we  can  apply  any  unpaid  amount  against 
your credit limit. You do not have to pay any questioned amount while we are 
investigating, but you are still obligated to pay the parts of your bill that are not 
in question.

If  we  find  that  we  made  a  mistake  on  your  bill,  you  will  not  have  to  pay  any 
Interest charges related to any questioned amount. If we didn’t make a mistake, 
you may have to pay Interest 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 delin-
quent. However, if our explanation does not satisfy you and you write to us within 
ten days telling us that you still refuse to pay, we must tell anyone we report you 
to that you have a question about your bill. And, we must tell you the name of 
anyone we reported you to. We must tell anyone we report you to that the matter 
has been settled between us when it finally is.

Special Rule for Credit Card Purchases
If you have a problem with the quality of property or services that you purchased 
with a credit card, and you have tried in good faith to correct the problem with 
the merchant, you may have the right not to pay the remaining amount due on 
the property or services. There are two limitations on this right:
(a)   You must have made the Purchase in your home state or, if not within your 
home state, within 100 miles of your current mailing address; and

(b)  The Purchase price must have been more than $50.00.

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

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

APR for Balance 
Transfers

13.9%

13.9%

APR for Cash Advances

13.9%

How to Avoid Paying 
Interest on Purchases

Your due date is at least 25 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.

Minimum Interest 
Charge

If you are charged interest, the charge will be 
no less than $.50.

For Credit Card Tips 
from the Federal Reserve 
Board

To learn more about factors to consider 
when applying for or using a credit card, visit 
the website of the Federal Reserve Board at 
http://www.federalreserve.gov/creditcard.

Fees

Annual Fee

None

Transaction Fees

Balance Transfer

Cash Advance

Penalty Fees

None
Either $5 or 3% of the amount of each cash 
advance, whichever is greater.

Late Payment

Returned Payment

Up to $25

Up to $25

Other Fees

Account Handling Fee

$25-If it is necessary to place restrictions on 
account

Statement Copy Fee

$2.50 per page

Reinstatement Fee

Lost/Stolen 
Replacement Card Fee

$25

$5

How We Will Calculate Your Balance: We use a method called “average daily 
balance (including new purchases).”
Billing Rights: Information on your rights to dispute transactions and how to 
exercise those rights is provided in your account agreement

The information about costs of the card described in this application is accurate 
as of 8/1/10.  The information may have changed after this date.  To find out 
what may have changed, write us at: PO Box 6000, Brookings, SD  57006.

If we don’t follow these rules, we can’t collect the first $50.00 of the questioned 
amount, even if your bill was correct.

08/10 

G-12786

VISA®/MASTERCARD® 
CARDHOLDER AGREEMENT
Please read this agreement carefully and save it for future reference. It contains 
Regulation Z disclosures and your rights in case of errors or inquiries about your 
bill.
This is the Agreement that covers your VISA®/MasterCard® Cardholder Account 
with  First  Bank  & Trust  (“Account”).  In  this  Agreement,  the  words  “you”  and 
“your” refer to the person who applied for the Account and any Joint Accoun-
tholder, if applicable. “We”, “us”, and “our” refer to First Bank & Trust, Brook-
ings, South Dakota.  The word “Card” means your VISA® Card or MasterCard® 
Card.

This Agreement is effective when you use the Card or the Account or if you fail 
to cut your Card in half and return it to us within 30 days after the date it is is-
sued to you.

To avoid unauthorized use of your Card, please sign the back of your Card im-
mediately.

1. 

2. 

3. 

4. 

Using Your Card. You may use your Card or Account to purchase or lease 
goods  or  services  (“Purchases”)  to  obtain  cash  loans  (“Cash  Advances”) 
from any financial institution that accepts the Card. Any cash equivalents 
obtained with the Card will also be treated as Cash Advances. Cash equiva-
lent transactions include but are not limited to wire transfers, money or-
ders travelers checques, tax payments, gold bullion purchase, and gamming 
transactions or services.  If you use your Card or Account, you agree to us 
paying the amount owed to each merchant or financial institution which 
honored your Card. 

If  you  give  your  Account  number  to  make  a  purchase  or  obtain  a  Cash 
Advance without presenting your Card (such as for a mail order, telephone, 
or Internet purchase), the legal effect will be the same as if the Card itself 
was used by you.

If  we,  at  our  option,  give  you  a  Personal  Identification  Number  (PIN), 
you may use your Card to obtain a Cash Advance from any Automated 
Teller  Machine  (ATM)  that  bears  the  VISA®,  MasterCard®,  or  CIRRUS® 
logo. All ATM transactions are treated under terms of this Agreement the 
same as Cash Advances. We have the right to restrict your access to any 
qualified ATM at any time. You should not keep your PIN with your Card. 
If you believe that anyone has gained unauthorized access to your PIN, you 
should advise us immediately, following the procedures under the heading 
“Lost or Stolen Card.”
Joint Account. If this is a Joint Account, each person (a) may obtain Pur-
chases and Cash Advances (but the total of these cannot exceed the credit 
line); (b) will be responsible for paying all amounts owed; and (c) can close 
the Account.
Credit Line. Your credit line is shown on the folder containing your Card. 
Since we may change your credit line from time to time, your latest credit 
line will appear on your monthly billing statement. You agree not to make 
any Purchases or obtain any Cash Advances that would cause the unpaid 
balance of your Account to exceed your credit line. We may honor Pur-
chases and Cash Advances in excess of your credit line at our sole discretion. 
If we do this Agreement also applies to that excess and you agree to pay the 
excess immediately if we demand that you do so. You agree that we may 
change or cancel your credit line at any time without affecting your obliga-
tion to pay amounts that you owe under this Agreement.
Billing Statements. We will promptly send a Monthly Billing Statement at 
the end of each monthly billing cycle if your Account has a debit or credit 
balance greater than $1.00. The Monthly Billing Statement will show the 
Previous Balance, Purchases and Cash Advances posted during the billing 
period, any Interest Charges, and all payments, debits, and credits to your 
Account through the Billing Cycle Closing Date. It will also show, among 
other things, your New Balance, the Minimum Payment Due, and the Pay-
ment Due Date (which will be at least 25 days after the Billing Cycle Clos-
ing Date).

 
5. 

6. 

7. 

Lost or Stolen Card. You may be liable for the unauthorized use of your 
Card. You will not be liable for unauthorized use that occurs after you no-
tify us through our agent at 1-800-658-3660 orally of the loss, theft, or 
possible unauthorized use. You may also notify us in writing of loss, theft, 
or possible unauthorized use at CARD PROCESSING CENTER, PO Box 
3038, Evansville,IN 47730. In either case, your maximum liability is $50 
for unauthorized charges to your Account made prior to receipt of your oral 
or written notification.
Promise to Pay. By applying for and obtaining credit on your Account, you 
agree jointly and severally, if more than one person applies for the Account, 
to be obligated and pay for all credit obtained on your Account by you or 
any person you authorize to use your Card, as well as our Interest charges 
and any other fees imposed by us, as provided for in the Agreement. You 
agree to pay us only in U.S. Dollars drawn on U/S/ financial institutions.

Irregular  Payment  and  Delay  in  Enforcement, Waivers  and  Releases. 
We can accept late payments, partial payments, checks and money orders 
marked  “paid  in  full”  or  language  having  the  same  effect  without  losing 
any of our rights under this Agreement. We can also delay enforcing our 
rights under this Agreement any number of times without losing them and 
can waive or delay enforcing a right against one of you without waiving or 
delaying it as to the other.  No waiver by us of any default shall be effective 
unless in writing nor operate as a waiver of any other future default. We can 
release any one of you in whole or in part without affecting your obligation 
under this Agreement.

8.  Minimum Payments. You may pay your New Balance each month, or you 
may pay in monthly installments. If you decide to pay in monthly install-
ments, you must pay at least the Minimum Payment Due shown on your 
Monthly Billing Statement by the Payment Due Date. You may pay more 
than the Minimum Payment Due and may at any time pay your total bal-
ance due. We will apply payments to amounts owed on your Account based 
on applicable laws. 

9. 

If your New Balance is greater than $15.00, then the Minimum Payment 
Due will be the greater of $15.00 or 3% of your total outstanding balance, 
plus any amount that is delinquent.  If the New Balance is less than $15.00 
you pay only the New Balance.  When we calculate the Minimum Payment 
Due, it will be rounded to the next highest $5.00 increment.

Your Account is not in good standing if at any time we do not receive at 
least the Minimum Payment Due by the 60th day after the Payment Due 
Date shown on the Monthly Billing Statement.      
INTEREST CHARGES. Your Account is subject to the following Interest 
charges, each of which will be charged to your Account as a Purchase:
Periodic Interest Charges. An INTEREST CHARGE is imposed on Pur-
chases beginning on the date the Purchase is posted to your Account. No 
INTEREST  CHARGE  will  be  imposed  on  your  Purchases  if  the  Previ-
ous  Balance  shown  on  your  Monthly  Billing  Statement  is  zero  and  you 
pay your New Balance in full by the Payment Due Date shown on your 
Monthly Billing Statement. An INTEREST CHARGE is imposed on Cash 
Advances beginning on the date they are obtained and continues until the 
balance of your Account is paid in full. There is no time in which you can 
pay the balance of Cash Advances in order to completely avoid an INTER-
EST CHARGE.
THE  INTEREST  CHARGE  is  determined  by  multiplying  the  Average 
Daily Balance for Purchases and for Cash Advances outstanding during the 
monthly billing cycle by the monthly Periodic Rate. The monthly Periodic 
Rate for Purchases and Cash Advances is 1.158%, which is equivalent to an 
ANNUAL PERCENTAGE RATE of 13.9%.

The Average Daily Balance is computed by taking the beginning balance of 
your Account on each day calculated separately for Purchases and Cash Ad-
vances, adding new Purchases and Cash Advances and subtracting any pay-
ments and credits. Any resulting credit balance is treated as a zero ($0.00) 
balance. This gives us the daily balance. The daily balances are then added 
together and divided by the number of days in the billing cycle to get the 
Average Daily Balance.

Minimum  Interest  Charge.  The  minimum  Periodic  INTEREST 
CHARGE each billing cycle, based on the Periodic Rate, is $.50.
Cash  Advance  Fee.  In  addition  to  the  INTEREST  CHARGE  on  Cash 
Advances  calculated  by  application  of  the  Periodic  Rate,  there  is  an  IN-
TEREST  CHARGE  of  3%  (minimum  $5.00),  whichever  is  greater,  for 
each Cash Advance posted to your Account that month.
Replacement Card Fee. If at any time you request a replacement credit 
card due to loss, damage, theft, or destruction of your current credit card, 
you may be charged a Replacement Card Fee of $5.00. No replacement 
Card will be allowed on the third lost or stolen Card. This fee is an INTER-
EST CHARGE.

10.  FEES. Your Account is subject to the following fees, each of which will be 

charged to your Account as a Purchase:
Late Fee. If we do not receive a payment from you in at least the amount 
of your Minimum Payment Due by the Payment Due Date shown on any 
Monthly Billing Statement, you may be charged a Late Fee equal to the 
amount of the Minimum Payment Due up to a maximum of $25.00.
Returned Payment Fee. If you make a payment on your Account and your 
check or other payment instrument is not honored for any reason or cannot 
be processed, we may charge a Returned Payment Fee equal to the amount 
of the Minimum Payment Due up to a maximum of $25.00.  
Account Handling Fee. If you are in default of this Agreement and it is 
necessary for us to place restrictions on your Account, you may be charged 
an Account Handling Fee of $25.00. If these restrictions cause your Card 
to be retained and returned to us, you agree to pay all charges associated 
with recovering your Card.
Reinstatement Fee. If we close your Account due to your default and we 
later reinstate your Account at your request, you may be a charged a Rein-
statement Fee of $25.00.
Statement Copy Fee. If you request a copy of a Monthly Billing Statement, 
you may be charged a Statement Copy Fee of $2.50 per page.

11.  Default/Collection Costs. Your  Account  will  be  in  default  and  we  may 
demand immediate payment of the entire amount you owe us without giv-
ing you prior notice, if: (a) your Minimum Payment Due is not received by 
the Payment Due Date; (b) you make Purchases or obtain Cash Advances 
in  excess  of  your  credit  line;  (c)  you  become  insolvent  or  are  a  party  to 
a bankruptcy proceeding; (d) in the case of an Account with co-obligors 
where either of you request termination of the other; (e) you or a co-obligor 
dies; (f) you provide false information to us, misuse the Account or Card 
or  violate  any  term  of  this  Agreement;  (g)  any  judgment  or  lien  is  filed 
against  you;  or  (h)  we  reasonably  believe  that  your  ability  to  repay  your 
obligations to us has been materially impaired. We shall also have the right 
to all remedies provided by law including, without limitation, closing or 
refusing to renew your Account and demanding return of your Card(s).  If 
we refer your Account for collections to an attorney who is not our regularly 
salaried  employee,  you  agree  to  pay  the  reasonable  fees  of  such  attorney 
and, whether or not an attorney is retained, all court and other collection 
costs  (including  and  amounts  actually  incurred  by  us  in  recovering  your 
Cards(s)). 

12.  Refusals to Honor Card. We are not responsible for refusals to honor your 
Card. And, except as otherwise required by law or regulations, we will not 
be responsible for merchandise or services purchased through use of your 
Card.

13.  Termination. We may terminate your privileges under the Agreement or 
cancel or limit your privileges to make Purchases or obtain Cash Advances 
at any time, with or without cause, without notice or liability. If we ask, you 
must return your Card(s) to us, cut in half. You agree that you will not try 
to make any Purchases or obtain Cash Advances after you have been noti-
fied that your privileges to use your Account have been cancelled. You may 
cancel this Agreement by returning all Cards issued on your Account to 
us, cut in half. Your or our termination or cancellation will not affect your 
existing obligations under this Agreement.

14.  Notices. We will send statements and any other notices to you at the ad-
dress shown in our files. IF this is a Joint Account, we can notify one of 
you and the notice will be effective for both of you. Similarly, one of you 
can notify us and we will consider it to be notice from both of you. You 
promise to inform us promptly in writing of any change in your address. 
In determining your last known address, we can accept address corrections 
received from the U.S. Postal Service.

15.  Changes  in  Agreement Terms.  We  can  change  any  term  of  this  Agree-
ment, including the rate at which or manner in which Interest charges are 
calculated, at any time upon such notice to you as is required by law. At 
our option, any change will apply both to your new activity and to your 
outstanding balance when the change is effective. If you do not wish to be 
subject to the change, you must notify us in writing within 25 days of the 
effective date of the change and close your Account. Use of the Card after 
the effective date of the change is deemed acceptance of the new terms.
16.  Arbitration.  “Arbitration” is a means of having an independent third party 
resolve a Dispute. A “Dispute” is any controversy or claim of any type or 
nature between you (or any co-signer, co-obligor, guarantor, joint user or 
authorized user) and us or our employees, officers, directors, attorneys, and 
other representatives and agents, arising out of or in any way relating to 
this  agreement,  including  this  arbitration  agreement. You  agree  that  this 
is a contract involving interstate commerce which is subject to the Federal 
Arbitration Act and that any Dispute shall be settled by binding Arbitration 
in  accordance  with  the  applicable  rules  and  procedures  of  the  American 
Arbitration Association (“AAA”), except as modified herein with the sole 
exception of collection actions by us relating to your Account. You and we 
agree that the arbitrator has no authority to conduct class-wide proceed-
ings and will be restricted to resolving the individual disputes between the 
parties. You further agree to waive any claim for punitive damages to the 
extent permitted by law. The arbitrator otherwise has the ability to award 
all remedies otherwise available by statute, at law or in equity to the prevail-
ing party including the recovery of reasonable attorneys’ fees and the costs 
of arbitration, as determined by the arbitrator. Judgment upon the award 
rendered by an arbitrator may be entered in any court having jurisdiction 
thereof. YOU  UNDERSTAND THAT YOU WILL  NOT  HAVE THE 
RIGHT TO GO TO COURT, TO HAVE A JURY TRIAL, TO ENGAGE 
IN  PRE-ARBITRATION  DISCOVERY  (EXCEPT  AS  PROVIDED 
FOR  IN  THE  ARBITRATION  RULES),  OR  TO  PARTICIPATE  AS 
A  REPRESENTATIVE  OR  MEMBER  OF  ANY  CLASS  OF  CLAIM-
ANTS  PERTAINING TO  ANY  DISPUTE.  OTHER  RIGHTS THAT 
YOU WOULD  HAVE  IF YOU WENT TO  COURT  MAY  ALSO  BE 
UNAVAILABLE IN ARBITRATION. If any portion of this Arbitration 
Agreement  is  subsequently  deemed  unenforceable,  the  enforceability  of 
any other provision of this Arbitration Agreement shall not be affected and 
the unenforceable term shall be amended such that it is enforceable to the 
maximum extent permitted by law.

17.  Venue and Jurisdiction. You consent to be subject to the jurisdiction and 
venue of the Circuit Court for the Third Judicial Circuit, State of South 
Dakota, and agree that such court shall be the sole and exclusive jurisdic-
tion and venue of all court actions of disputes or claims arising from or 
relating to this Agreement or the Account relationship.

18.  Applicable Law. This Agreement is entered into in the State of South Da-
kota where the decision to grant credit is made and in which payments will 
be received. Therefore, this Agreement will be governed by the laws of the 
State of South Dakota without giving reference to its conflict of law provi-
sions. If there is any conflict between any of the terms and conditions of this 
Agreement and applicable law, this Agreement will be considered changed 
to the extent necessary to comply with the law. The other provisions of the 
Agreement shall not be affected.

19.  Binding Effect. This Agreement is binding upon and enforceable against 

your heirs, legal representatives, or successors.

20.  Currency Conversion Rate. If you effect an international transaction at a 
merchant that settles in a currency other than U.S. dollars the rate used to 
determine the transaction amount for such transactions is generally either 
a government mandated rate or a wholesale rate determined by Visa®/Mas-