If all of the criteria above are met and you are still dissatisfied 
with the purchase, contact us in writing or electronically at:

MSU Federal Credit Union 
C/O Visa Department 
P.O. Box 1208 
East Lansing, MI 48826-1208

www.msufcu.org

While we investigate, the same rules apply to the disputed 
amount as discussed above. After we finish our investigation, we 
will tell you our decision. At that point, if we think you owe an 
amount and you do not pay, we may report you as delinquent.

The information about the costs of the card described in this 
disclosure is accurate as of August 15, 2011. This information may 
have changed after that date. To find out what may have changed, 
write to us at P.O. Box 1208, East Lansing, MI  48826-1208 or visit 
our website at www.msufcu.org.

MSUFCU Visa Credit Card Disclosure

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

APRs for Balance 
Transfers

APRs for Cash Advances

Penalty APR and 
When It Applies

Paying Interest

8.9% to 17.9% 
based on your creditworthiness

8.9% to 17.9% 
based on your creditworthiness

8.9% to 17.9% 
based on your creditworthiness

17.9%

The Penalty APR is applied if your account becomes delinquent 60 days.

How Long Will the Penalty APR Apply? The Penalty Annual 
Percentage Rate will apply until you make six consecutive minimum 
payments when due.

Your due date is at least 25 days after the close of each billing cycle. 
We will not charge you any interest on purchases if you pay your entire 
balance by the due date each month. We will begin charging interest 
on cash advances and balance transfers on the transaction date. 

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

Transaction Fees

•   International transaction 
and cash advance fees

1% for ATM transactions 

3% for all other transactions calculated after the transaction has 
been converted to U.S. dollars

Penalty Fees

•  Late Payment

$25 if the minimum payment due is $25 or more;

$15 if the minimum payment due is $15 to $24.99; or

$0 if the minimum payment due is less than $15.

Other Fees
•   Returned Convenience 

$25

Check

How We Will Calculate Your Balance:  We use a method called “average daily balance (including new 
purchases).”

Federally Insured
by the NCUA

10%

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

219      8/11
IFN # - I001494

Visa Credit Card Agreement and
Truth-in-Lending Disclosure Statement

In this agreement (called the “Agreement”), the words “you” and “your” 
mean or refer to each and all persons who have applied for the Card 
or Cards. “Card” means the Visa Credit Card or Cards, any duplicates 
and renewals thereof, or substitutions therefore we may issue. 
“Account” means your Visa Credit Card line-of-credit loan account 
with us. “We,” “us” and “ours” means or refers to this credit union. This 
Agreement is also a Truth-in-Lending Disclosure Statement.

1. 

2. 

Responsibility - By activating and using your Visa Credit Card 
line-of-credit loan, you agree to be bound by the terms and 
conditions of this agreement. You promise to repay all debts 
and the FINANCE CHARGE thereon arising from any authorized 
use of the Card. You agree not to let someone else use the Card. 
If you do, you are agreeing with us that you authorize all use 
that person makes of the Card. Therefore, you will be liable 
for all such use of the Card. Of course, once you notify us we 
will take prompt steps to try to prevent any further Card use 
by that person. If your application is signed by two persons, 
the Account is joint; that is, each of you, separately and jointly 
with each other, are liable for all debts on the Account and 
FINANCE CHARGE thereon.  Your obligation to pay all such 
debts and FINANCE CHARGE thereon continues even though an 
agreement, divorce decree or other court judgment to which 
we are not a party may direct that only one of you, or some 
person other than you (or both of you), must pay such debts and 
FINANCE CHARGE.

Credit Line - We have established a self-replenishing line-of-
credit for you and have notified you of the amount thereof 
(“credit limit”) by letter. That letter is hereby incorporated herein 
as part of this Agreement. You agree not to let your Account 
balance exceed such amount. Each payment you make on 
the Account will replenish your credit limit by the part of that 
payment which is applied to principal. If you have not used your 
Visa Credit Card line-of-credit loan for eighteen (18) months we 
reserve the right to not reissue your Visa Credit Card(s) as of the 
expiration date and to cancel your line-of-credit. If you have not 
activated your Visa Credit Card(s) we reserve the right to not 
reissue your Visa Credit Card(s) as of the expiration date. We may 
reduce your credit limit from time to time, change the rate in 
accordance with the conditions of the cardholder information 
section of the agreement, or may, with good cause, revoke your 
Card and terminate this Agreement; in any event, we will give 
you written notice of such action. “Good cause” includes your 
failure to satisfy the terms of this Agreement, or our adverse 
reevaluation of your creditworthiness. However, you may 
terminate this Agreement, at any time and for any reason, by 
giving us written notice. Nevertheless, termination by you or by 
us does not affect your obligation to pay all debts and FINANCE 
CHARGES thereon arising from authorized use of your Card. 

 
 
 
 
 
The Cards remain our property and you must recover and 
surrender to us all Cards upon our request or upon termination 
of this Agreement. 

3.  Using the Card - As soon as received, each Card must be 
signed (in the space provided on the back) by the person 
whose name appears on the front of the Card. That signature 
must be in the same form as appears on the front of the 
Card. To make a purchase or cash advance there are several 
alternative procedures to be followed. One is for you to present 
the Card to a participating Visa-plan merchant or financial 
institution, or to us, and sign the sales draft or cash advance 
which will be imprinted with your Card. Another is to complete 
the transaction by using your Personal Identification Number 
(PIN) in conjunction with the Card, in accordance with the 
instructions given to you by an Automated Teller Machine 
(ATM), or other type of electronic terminal that provides access 
to the Visa system, by a participating Visa-plan merchant, by 
us, or another financial institution. Cash advances can also be 
made by telephone or mail request. Please note that we are 
not responsible if a particular Visa-plan merchant or financial 
institution refuses to honor your Card. You will receive a copy 
of the draft which you should retain to verify your monthly 
statement. You agree not to make or permit to be made any 
illegal transactions on your Account through the use of a Card, 
a check or in any other manner. We may deny authorization for 
any Internet gambling transaction.

4. 

Finance Charges - In order to avoid a FINANCE CHARGE on 
purchases made since your last statement date, you must pay 
the "Total New Balance" shown on your most recent monthly 
statement on or before the "Payment Due Date" shown on 
that statement (which will not be less than 25 days from the 
"Statement Date"). Otherwise the finance charge on purchases 
is calculated on the next statement period on previously billed 
but unpaid purchases and on new purchases from the date 
they are posted to your account. Balance transfers and cash 
advances are always subject to a finance charge from the 
date they are posted to your account. The FINANCE CHARGE 
(interest) on purchases and cash advances is calculated at the 
Daily  Periodic Rate. The ANNUAL PERCENTAGE RATE (APR) on 
purchases, balance transfers and cash advances is between 
8.9% (0.02438% Daily Periodic Rate) and 17.9% (0.04904% 
Daily Periodic Rate); the APR you receive is determined based 
on your creditworthiness, and we have notified you of your 
APR in the Visa Account-Opening Credit Disclosures. Separate 
finance charges for purchases, balance transfers and cash 
advances are determined by multiplying the Daily Periodic 
Rate by the separate average daily balances for purchases, 
balance transfers and cash advances by the number of 
days in the statement period. Each average daily balance is 
determined by taking the beginning balance (of purchases, 
balance transfers or cash advances) in your account each day, 
adding any new purchases, balance transfers or cash advances 
(whichever is applicable) and subtracting any payments or 
credits. The results are the daily balances. All the daily balances 
for the statement period are added and the total is divided by 
the number of days in the statement period to arrive at the 
average daily balances for the period.

5.  Monthly Payment - Each month you must pay at least the 

minimum payment shown on your statement by the statement 

due date. You may, of course, pay more frequently, pay more 
than the minimum payment, or pay the Total New Balance in 
full. If you make extra payments or larger payments, you are 
still required to make at least the minimum payment each 
month your account has a balance. The minimum payment is 
2% of your Total New Balance but not less than $15.00, plus 
the amount of any prior minimum payments that you have not 
paid. In addition, at any time your Total New Balance exceeds 
your credit limit, you must immediately pay the excess upon 
demand. If your account becomes delinquent 60 days the 
penalty ANNUAL PERCENTAGE RATE of 17.90% (0.04904% Daily 
Periodic Rate) will apply. Once imposed, the penalty Annual 
Percentage Rate will apply until you make six consecutive 
minimum payments when due. WARNING MINIMUM PAYMENT: 
Making only the minimum payment will increase the amount 
of interest you pay and the time it takes to repay your balance. 
You may call us toll-free at (800) MSU-4-YOU or (800) 678-4968 
to receive information about accessing credit counseling and 
debt management services.

6.  Other Charges - 

i. Late Payment Fee: You may be assessed and agree to 
pay us a late payment fee for any payment received seven 
(7) or more days past the payment due date as indicated on 
your statement. The late payment fee is $25 if the minimum 
payment due is $25 or more; $15 if the minimum payment due 
is $15 to $24.99; or $0 if the minimum payment due is less than 
$15.

ii. Returned Convenience Check: If we do not pay a draft 
written against your account, we will assess and you agree to 
pay a charge of $25.00 for each such returned draft.

Currency Conversion - When you use your Visa Credit Card 
at a merchant that settles in, or at an ATM that dispenses, 
currency other than U.S. dollars, the charge will be converted 
into the U.S. dollar amount. The currency conversion rate used 
to determine the transaction amount in U.S. dollars is either 
a wholesale market rate or the government mandated rate 
in effect the day before the processing date. The conversion 
rate in effect on the processing date may differ from the rate 
in effect on the transaction date or posting date. Your account 
will be assessed, and you agree to pay, a 1.00% International 
Transaction Fee for ATM transactions and a 3.00% 
International Transaction Fee for "all other" international 
transactions and cash advances, which fee will be calculated 
after the transaction has been converted to U.S. dollars.

Credits - If merchants who honor your Card give you a credit 
for returns or adjustments, they will do so by posting a credit 
to your Account. You should keep your copy of the credit slip 
to verify your monthly statement. If your credits and payments 
exceed what you owe us on the Account, we will credit such 
excess to your savings account or we will refund it upon 
request.

7. 

8. 

9 . 

Security Interest - 

i.  Shares as Security. To secure performances of your 

obligations under this Agreement, you hereby grant to 
MSUFCU a security of interest in funds you may have 
on deposit with MSUFCU from time to time and in any 
other money MSUFCU may owe you. You understand 

and intend that by reason of such security interest here 
granted MSUFCU may satisfy your indebtedness under 
this Agreement by charging your deposit account(s) 
maintained with MSUFCU if you default in payment 
under this Agreement, without further notice to you. 
If a specific dollar amount has been pledged, MSUFCU 
will freeze shares in that account to the extent of 
the specified pledge. Otherwise, your shares may be 
withdrawn unless you are in default. This security 
interest does not apply to any Individual Retirement 
Account or any other account that would lose special tax 
treatment under state or federal law if given as security.

ii.  Cross Collateral. Any collateral securing other loans with the 
credit union, except loans secured by real property used as 
your principal dwelling or property used for personal, family 
or household purposes, will also secure advances made 
under this agreement.

10.  Loss or Theft of Card - You agree to notify us immediately 

upon discovering that your Card has been lost or stolen.

11.  Default - The Minimum Payment shown on the statement 
is due by the date shown on the statement. You will be in 
default if you fail to make the Minimum Payment within 7 days 
after the statement due date. You will also be in default if (a) 
you breach any other conditions of the Agreement, (b) if we 
determine that your creditworthiness (which includes your 
ability to repay us) has become unsatisfactory due to change in 
employment, increase in your other obligations, or because of 
any other reason, or (c) in the event of your death. In the event 
of any default, the entire balance on the Account becomes due 
and payable forthwith. You also agree that, in case of default, 
you will pay all usual and customary costs of collection, 
including reasonable attorney's fees, permitted by law.

12.  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 our experience with you under this Agreement to 
credit bureaus and other creditors.

13.  Effect of Agreement - This Agreement contains our complete 

contract relating to the Account and applies to every 
transaction relating to the Account even though a sales, 
balance transfer or cash advance draft you sign or a credit slip 
may contain different terms.

14.  Amendment of Agreement - From time to time, we may 
amend this Agreement by giving you written notice of the 
amendment at least 45 days before it goes into effect, unless 
a shorter notice period is permitted by law. The notice will be 
sent to your last known address appearing in our records when 
it is sent, and will state the date upon which the amendment 
will become effective. Except where prohibited by law, all such 
changes will apply to new transactions and to amounts you 
already owe, unless you provide notice of your election to 
terminate the account and surrender your card(s) on or before 
the effective date of the changes, in which case you will be 
entitled to repay your balance in accordance with the terms 
and conditions in effect at that time. We may also offer you a 
repayment method that includes: (a) an amortization period 
of not less than five years or (b) a required minimum periodic 

payment that includes a percentage of the outstanding 
balance that is not more than twice the percentage required 
before the effective date of the amendment.

What Will Happen After We Receive Your Letter

When we receive your letter, we must do two things:

15.  Cash Advance by Machine - If automated teller machines or 

other electronic devices are available while this Agreement 
remains in effect which make it possible for you to obtain a 
cash advance by use of your Card in such a machine, we will 
furnish you with a secret personal identification number. 
Your use of that number, together with your Card, in getting 
a cash advance from such a machine is agreed to constitute 
your signature for purposes of such cash advance. Minimum 
amount of cash advance is $50.00.

16.  Record Keeping - You have agreed that we may keep the 

application which bears your signature so that we can comply 
with federal and/or state law relating to loan documents we 
are required to keep in our files.

17.  Liability for Unauthorized Use - You may be liable for the 

unauthorized use of your credit card. You will not be liable for 
unauthorized use that occurs after you notify MSUFCU, orally 
or in writing, of the loss, theft or possible unauthorized use. 
You will have no liability for any unauthorized use of your card, 
unless you were grossly negligent or fraudulent in handling 
the Card.

YOUR BILLING RIGHTS:  Keep This Document for 
Future Use

This notice informs you about your rights and 
responsibilities under the Fair Credit Billing Act.

What To Do If You Find A Mistake On Your Statement

If you think there is an error on your statement, write to us at:

MSU Federal Credit Union
C/O Visa Department 
P.O. Box 1208 
East Lansing, MI 48826-1208

You may also contact us online: www.msufcu.org

In your letter, give us the following information:

• Account Information: Your name and account number  
• Dollar Amount: The dollar amount of the suspected error 
•  Description of Problem: If you think there is an error on your bill, 
describe what you believe is wrong and why you believe it is a 
mistake.

You must contact us:

• Within 60 days after the error appeared on your statement.

•  At least 3 business days before an automated payment is 
scheduled, if you want to stop payment on the amount you 
think is wrong.

You must notify us of any potential errors in writing by mail or 
electronically. If you call us, we are not required to investigate any 
potential errors and you may be required to pay the amount in 
question.

1.  Within 30 days after receiving your letter, we must tell you that 
we received your letter. We will also tell you if we have already 
corrected the error.

2.  Within 90 days of receiving your letter, we must either correct 
the error or explain to you why we believe the bill is correct.

While we investigate whether or not there has been an
error:

•  We cannot try to collect the amount in question, or report you  

as delinquent on that amount.

•  The charge in question may remain on your statement, and we 
may continue to charge you interest on that amount.

•  While you do not have to pay the amount in question, you are 
responsible for the remainder of your balance.

• We can apply any unpaid amount against your credit limit.

After we finish our investigation, one of two things will 
happen:

•  If we made a mistake:  You will not have to pay the amount in 
question or any interest or other fees related to that amount.

•  If we do not believe there was a mistake:  You will have to pay 
the amount in question, along with applicable interest and fees. 
We will send you a 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.

If you receive our explanation but still believe your bill is wrong, 
you must write to us within 10 days telling us that you still refuse 
to pay. If you do so, we cannot report you as delinquent without 
also reporting that you are questioning your bill. We must tell you 
the name of anyone to whom we reported you as delinquent, and 
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 of the amount in question, even if your bill is correct.

Your Rights If You Are Dissatisfied With Your Credit 
Card Purchases

If you are dissatisfied with the goods or services that you have 
purchased with your 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 purchase.

To use this right, all of the following must be true:

1.  The purchase must have been made in your home state or 
within 100 miles of your current mailing address, and the 
purchase price must have been more than $50. (Note: Neither 
of these are necessary if your purchase was based on an 
advertisement we mailed to you, or if we own the company 
that sold you the goods or services.)

2.  You must have used your credit card for the purchase. 

Purchases made with cash advances from an ATM or with a 
check that accesses your credit card account do not qualify.

3. You must not yet have fully paid for the purchase.