Pricing Information & Cardholder Agreement 

Police Visa Gold 

Pricing 

APR for Purchases 
APR for Cash Advances 
Penalty APR 
Annual Fee 
Minimum Interest Charge 
Foreign Transaction Fee 
Grace Period 
Balance Computation method 

Cash Advance Fee 
Late Payment Fee 
If your balance is less than $1,000 
If your balance is $1,000-$2,000 
If your balance is greater than $2,000 

Over-the-limit Fee 
Returned Payment Fee 
Required Fees - other 

Prime plus 9.24% 
Prime plus 9.24% 
17.99% 
None 
None 
None 
At least 25 days 
Average daily balance, 
including new purchases 
None 

Up to $10.00 
Up to $20.00 
Up to $25.00 

None 
Up to $25.00 
None 

 
 
IMPORTANT: PLEASE READ AND RETAIN FOR YOUR RECORDS

POLICE FEDERAL CREDIT UNION/PENTAGON FEDERAL CREDIT UNION
CARDHOLDER AGREEMENT AND DISCLOSURE STATEMENT

JOINT  OPERATING  AGREEMENT.  Police  Federal 
Credit  Union  (Police  FCU)  and  Pentagon  Federal  Credit 
Union  (PenFed)  are  participating  jointly  to  provide  you 
with credit card services. The servicing of your account in-
cludes, but is not limited to, statement processing, inquiry 
processing and payment processing, and is administered by 
PenFed’s Card Services department. Your credit report will 
show Police FCU and PenFed as the creditor.

DEFINITIONS. The “Card” means the Police FCU credit 
card which we issue to you under this Agreement, and in-
cludes any device or check used to obtain credit or cash from 
the account. An Authorized User is an individual receiving 
a  Card,  but  who  has  no  responsibility  for  payment  of  the 
Account.  The  words  “you”,  “your”  and  “cardholder”  mean 
each person, jointly and individually who holds, signs, re-
tains, uses, or permits others to use or sign a card. The words 
“our”, “we” and “us” mean Police FCU and PenFed or any 
of its assignees. Unless otherwise stated, “Account” means 
your Visa account with us.

1.  AGREEMENT.  We  agree  to  extend  credit  to  you  and 
advance  amounts  up  to  your  credit  limit,  but  transaction 
limits may apply. Your credit limit is not increased by any 
credit balance you may have on your account. You will sign 
the back of the Card as soon as you receive it. You agree to 
pay  us  for  credit  extended  for  the  use  of  the  Card  by  you 
or any other cardmember, along with all applicable finance 
charges,  fees  and  insurance,  if  any  apply.  By  signing,  us-
ing or permitting others to use the Card, you agree to the 
terms and conditions contained in this Agreement, on the 
Card,  on  any  charge  slip  resulting  from  authorized  use  of 
the Card, on any authorized cash advance slip, and to accept 
responsibility for all actions taken with the Card.

2.  CREDIT  LIMIT. You agree to use the Card within the 
credit limit we authorize. You also agree that we can change 
your  credit  limit  at  any  time.  We  are  not  obligated  to  ac-
cept charges that would cause you to exceed your authorized 
credit limit. Any extension of credit to you, made or hon-
ored by us, shall be at such times and in such amounts and 
for such purposes as to conform to this Agreement, and only 
when there is no default.

3.  CHANGE  IN  TERMS.  You  agree  that  the  terms  of 
this  Agreement  are  applicable  to  any  cardholder.  You  also 
agree that we can change the terms of this Agreement at any 
time by adding, deleting, or modifying any provision of the 
Agreement. 

Termination of the account by you or us will not affect 
your obligation to pay the Account balance plus any finance 
charge  and  other  charges  you  owe  under  this  Agreement. 
You  are  responsible  for  all  transactions  made  to  your  ac-
count  after  termination,  unless  the  transactions  were  un-
authorized. Should you choose to cancel your Account, the 
terms in effect at the time that you cancel the Account will 
apply until the outstanding balance of the Account is paid 
in full, unless you are in default. Your card will no longer be 
available for use for new transactions, including purchases, 
as the Account will be closed (if it is not already closed.) . If 
you do not notify us of your decision to terminate the ac-
count by the date stated in any notice we provide, or if you 
notify us but then use the Account after the date stated in 
the notice, you will be deemed to accept all changes to the 
Account’s terms and conditions of this Agreement. 

If you are in default because your payment has not been 
received within 60 days of the due date, you do not have the 
right to reject the changes we make to this Agreement or the 
Account’s terms and conditions. 

4.  FINANCIAL  CONDITION  CHANGE  You  agree 
to advise us of any change in your financial condition that 
may  affect  your  creditworthiness  and  to  provide  us  with 
a  current  loan  application  whenever  we  request  one.  You 
expressly  authorize  any  person,  partnership,  association, 
firm, corporation or consumer reporting agency, upon our 
request,  to  furnish  us  with  information  concerning  you 
relevant to the review and evaluation of this Account. You 
understand and agree that we may terminate your account 
upon reevaluation of your creditworthiness.

5.  FINANCE  CHARGES WILL BE IMPOSED IN THE 
FOLLOWING  MANNER  AND  WILL  BE  IN  AMOUNTS 
NOT IN EXCESS OF THOSE PERMITTED BY LAW:

A.  PURCHASES. (1) No finance charge will be imposed 
during the next billing cycle (defined as the time interval be-
tween regular monthly billing statement dates) if you pay the 
entire new balance shown on the current periodic statement 
and we receive your payment on or before the payment due 
date shown on the statement. (2) In all other cases, a finance 
charge will be imposed based on the average daily balance 
of all purchases and debit adjustments, hereafter referred to 
as purchases. The average daily balance is the sum of all out-
standing purchases, which is determined by including new 
purchases and deducting payments or credits and excluding 
any unpaid finance charge for your Account on each day of 
the billing cycle divided by the number of days in the bill-
ing cycle. A purchase appearing on the periodic statement is 
considered a part of the outstanding balance from the date 
of  posting.  (3)  The  amount  of  the  finance  charge  is  calcu-
lated by multiplying the average daily balance for purchases 
by the monthly periodic rate. The monthly periodic rate is 
the yearly interest rate divided by 12.

B. CASH ADVANCES. (1) Finance charges accrue on all 
cash  advance  amounts  from  the  date  charged  to  your  Ac-
count  and  continue  so  long  as  such  amounts  remain  out-
standing. (2) A finance charge will be imposed on the aver-
age daily balance of cash advances, which is the sum of the 
cash advances (determined by including new cash advances 
and deducting any payments or credits and excluding any 
unpaid  finance  charge)  outstanding  each  day  during  the 
billing  cycle,  divided  by  the  number  of  days  in  the  billing 
cycle. A cash advance appearing on the periodic statement is 
considered a part of the outstanding balance from the date 
of posting. (3) The amount of finance charge is calculated by 
multiplying the average daily balance for cash advances by 
the monthly periodic rate.

6.  PAYMENTS.  A  payment  delivered  by  regular  U.S. 
mail  must  be  sent  to  the  address  indicated  on  your  peri-
odic  statement.  Your  payment  by  mail  must  be  a  check  or 
money order in U.S. dollars with your account number on 
the check or money order and drawn on a U.S. financial in-
stitution, and be accompanied by the payment voucher from 
your statement. Write your account number on your check 
or money order. All such payments will be posted to your 
account as of the date we receive them provided we receive 
them before 5:00 p.m. at the address indicated on your peri-
odic statement. Payments received at other locations or not 
conforming to these procedures may be delayed in posting, 
but not more than 5 business days from the date of receipt.

PenFed,  in  its  sole  discretion,  may  accept  a  check  for 
payment on your Account even though payment was made 
before the date of the check or a check which has a date more 
than 6 months old. For the first six months all payments re-
ceived  from  PenFed  members  who  have  held  membership 
for  six  months  or  less  will  be  credited  to  your  Account  as 

of the date we receive them, but credit in the amount of the 
payment  will  not  be  available  to  you  for  10  calendar  days. 
Payments made electronically through our automated tele-
phone service, member service representatives, or our web-
site  will  be  subject  to  any  processing  times  disclosed  with 
those payments. 

Your minimum payment due is the greater of $15 or 2% 
of  the  new  balance  plus  the  past  due  amount,  if  any,  and/
or all amounts in excess of the authorized credit line/limit 
shown  on  the  periodic  statement.  If  the  new  balance  does 
not  exceed  $15,  only  the  new  balance  total  is  due  and  is 
shown as the minimum payment due. All past due or over 
limit amounts are due and must be fully paid immediately 
upon notification. You may, however, pay the total amount 
due, which is shown as the new balance, or you may pay any 
additional  amount  you  wish  over  the  minimum  payment 
due.

If  your  payment  is  not  honored  or  we  must  return 
it  to  you  because  it  could  not  be  processed,  a  charge  may 
be  made  to  your  account  in  the  amount  indicated  for  “re-
turned  payment”  on  Pentagon  Federal’s  current  Schedule 
of  Service  Fees  brochure.  In  addition,  for  the  6  months 
following  any  such  dishonored  payment,  any  payments 
you  make  will  be  credited  to  your  account  as  of  the  date 
we  receive  them,  but  credit  in  the  amount  of  the  pay-
ment  will  not  be  available  to  you  for  10  calendar  days.
You  understand  and  agree  that  the  minimum  monthly 
payment  will  be  applied  first  to  the  card  balance  with  the 
lowest  APR  in  the  following  order:  finance  charges,  credit 
life fees (if any), cash advance balances, and purchase bal-
ances.  You  understand  and  agree  that  payments  in  excess 
of  the  minimum  monthly  payment  will  be  applied  first  to 
the  card  balance  bearing  the  highest  rate  of  interest,  then 
to each successive balance bearing the next highest rate of 
interest until the payment is exhausted.

  7.  DEFAULT.  You  will  be  in  default  if  you  fail  to  make 
any payment on time, if you exceed the credit limit estab-
lished for the Account, if you become insolvent or file bank-
ruptcy, if you become incompetent or die, if a judgment or 
garnishment should be issued against any of your property 
including any of your Accounts with us, if we in good faith 
consider our or your obligations or your ability to repay or 
perform your obligations with us unsafe or insecure, if this 
Account  or  any  other  account  at  PenFed  is  maintained  by 
you in a manner that PenFed, in its sole discretion, deems 
contrary to sound financial practice, or if you fail to live up 
to any of your other agreements with us, to include any Pen-
Fed policy or procedure. Subject to law, if you default on this 
Agreement, we can, without giving anyone notice, demand 
immediate  payment  of  the  remaining  balance  due  includ-
ing but not limited to any unpaid finance charges, late fees 
and any other charges due under this Agreement. You also 
agree our obligation for further credit extensions shall im-
mediately end and we may terminate your Account without 
further notice to you. We can do this if you make any false 
or misleading statements on your requests for an advance, if 
you die, file for bankruptcy or if any other creditor tries to 
seize your property. 

If  your  required  minimum  payment  has  not  been  re-
ceived within 60 days of the due date, any balance, including 
a balance transfer with a promotional rate, will increase to 
the Penalty Annual Percentage Rate (Penalty APR). See Sec-
tion 10 below for details of the Penalty APR. If collection is 
necessary, you agree to pay all costs of collection, including 
attorney’s fees and court costs, in an amount not more than 
25 percent of the balance due.

8.  LATE  PAYMENT  FEES.  You will pay a late payment 

IMPORTANT: PLEASE READ AND RETAIN FOR YOUR RECORDS

IMPORTANT: PLEASE READ AND RETAIN FOR YOUR RECORDS

fee  if  the  Minimum  Payment  Due  is  received  10  or  more 
days past the due date. 

9.  VARIABLE  RATES. One or more APRs that apply to 
your  account  may  vary  with  changes  to  the  Prime  Rate, 
which means your rate can increase. We calculate the APR 
by adding a margin to the Prime Rate published in The Wall 
Street  Journal.  If The  Wall  Street  Journal  stops  publishing 
the Prime Rate, we will select a similar reference rate and in-
form you on your billing statement or through a separate no-
tice. The “Prime Rate” is the highest (U.S.) Prime Rate pub-
lished in the Money Rates section of The Wall Street Journal. 
A margin is the percentage we add to the Prime Rate to cal-
culate  the  APR.  On  the  first  Tuesday  of  the  first  full  week 
of the month, we determine what the Prime Rate is as pub-
lished in the Wall Street Journal. We then add a margin to 
the Prime Rate to get the APR for the following month. If the 
APR increases, you will have to pay a higher periodic finance 
charge and may have to make a higher minimum payment. 

Visa Platinum APR: Prime plus 6.74%
Visa Gold APR: Prime plus 9.24%
Visa Classic APR: Prime plus 10.74%

10.  PENALTY  ANNUAL  PERCENTAGE  RATE.  If 
your required minimum payment is not received within 60 
days of the due date, your Account is subject to change to a 
Penalty  APR.  The  Penalty  APR  will  remain  in  place  until 
you make three consecutive payments on or before the date 
that each payment is due. In addition, your balance transfer 
rate for any outstanding balance transfer amounts will in-
crease to the Penalty APR. After three consecutive months 
of on-time payments, the rates will be reduced to the rates 
that applied prior to the increase, unless the temporary pro-
motional rate has expired or the index for the variable rate 
has changed. 

11.  PROMOTIONAL  ANNUAL  PERCENTAGE 
RATE. At our option a special promotional rate may be of-
fered from time to time. The specific terms will be provided 
at the time of the offer. Generally, the promotional APR will 
only apply to select transactions (i.e. purchases or balance 
transfers)  during  the  promotional  period.    The  APR  rates 
for all other transactions, not outlined in the promotion as 
eligible for the promotional APR, will remain unchanged.  If 
your required minimum payment is not received within 60 
days of the due date, any promotional APR and the periodic 
rate  for  purchases,    cash  advances,  and  balance  transfers 
will  increase  to  the  Penalty  APR  until  3  consecutive  pay-
ments are made on time.

12.  ACCOUNT  CLOSURE.  You  or  anyone  jointly  li-
able for the Account may terminate the Account at any time 
by notifying us orally or in writing. However, this will not 
relieve  you  or  any  of  the  other  joint  owners  from  liability 
for  the  repayment  of  any  obligations  arising  from  the  use 
of the Account. In addition, recurring charges from a third 
party  vendor/merchant  will  be  charged  to  your  account, 
even though you have requested cancellation from PenFed. 
You must cancel the recurring charge with the third party 
vendor/merchant. Upon receipt of your notice, we may close 
your  Account  or  suspend  your  account  privileges  at  any 
time without prior notice. You must return all of the Cards 
to us upon request.

13.  THIRD  PARTY  DISCLOSURE.  We  may  disclose 
information  to  third  parties  about  your  account  in  order 
to advise third parties, such as credit reporting agencies or 
merchants  of  the  existence  or  condition  of  your  Account, 
to evaluate your current credit worthiness or as otherwise 
provided by law. 

14.  To  protect  us  if  you  are  in  default  on  any  credit  ex-
tended  or  cash  advanced  under  this  account,  you  pledge 
all of your shares, deposits, payments and dividends which 

may  be  received,  whether  held  jointly  or  individually,  up 
to the amount of your outstanding balance. The foregoing 
pledge includes the right to apply funds available to you in 
any  jointly  held  account  on  your  date  of  death.  This  does 
not include your individual retirement account (IRA). We 
may  take  all  the  shares  needed  by  us  to  repay  your  credit 
extension  or  cash  advance.  If  it  is  necessary  to  take  all  of 
your shares for the payment of this account, you understand 
your  membership  in  PenFed  may  end.  Collateral  securing 
other loans with the credit union may also secure this loan. 

15. CARD DISHONOR. If a merchant refuses the Card, 
we  will  not  have  any  liability  or  responsibility.  No  cash 
refund will be made to or accepted by you with respect to 
any adjustment for goods or services purchased. All adjust-
ments will be made by credit to your PenFed account by a 
properly executed credit voucher issued by the merchant.

16.  ILLEGAL  CARD  USE.  You agree that illegal use of 
your Card by cardholders(s) will be deemed an action of de-
fault and/or breach of contract and your account and other 
related  services  may  be  terminated  at  our  discretion.  You 
further  agree,  should  illegal  use  occur,  to  waive  any  right 
to sue PenFed for such illegal use or any activity directly or 
indirectly related to it. You also agree to indemnify and hold 
PenFed harmless from any suits or other legal action or li-
ability, directly or indirectly, resulting from such illegal use. 

17.  AUTHORIZED  USER.  You may request us to issue 
a  Card  to  an  individual  who  has  no  financial  responsibil-
ity under this Agreement. An Authorized User has the same 
access to your Account as you do, subject to any limitations 
we  may  impose.  An  Authorized  User  has  no  authority  to 
add  or  delete  Cardholders,  request  a  replacement  Card  or 
terminate  or  modify  this  Agreement.  You  may  terminate 
an  Authorized  User’s  authority  to  access  your  Account  at 
any time. To do this, you must return the Card to PenFed. 
You agree that you are responsible for all charges and cash 
advances  made  by  an  Authorized  User,  including  charges 
made  before  the  Card  is  returned,  recurring  charges,  or 
charges made without the use of the Card initiated by the 
Authorized User after termination of the Authorized User’s 
access.

18.  ISSUANCE/USE  OF  CARD.  Upon  receipt  of  the 
Card(s)  you  and  all  other  cardholders  agree  that  you  will 
sign the signature panel on the back of the Card(s). The Card 
remains  the  property  of  Pentagon  Federal  Credit  Union 
and may be revoked without notice at any time. The Card 
must  be  surrendered  to  us  upon  demand  or  revocation.  If 
we employ an agent to obtain the Card your Account will be 
charged with any related fees. No expired, revoked or other-
wise invalid Card shall be used to obtain or attempt to ob-
tain credit. You will remain responsible to pay the amount 
you owe us according to the terms of this Agreement. Can-
cellation of the Account will also terminate any other prod-
ucts or services offered in conjunction with it. However, re-
curring charges from a third party vendor/merchant will be 
charged to your Account, even though you have requested 
cancellation. You must cancel the recurring charge with the 
third party merchant/vendor. 

19.  ISSUANCE/USE  OF  CHECKS.  If  we  issue  you 
checks, these checks are treated as cash advances when they 
are used and presented for payment. We may refuse to issue 
or reissue and may also terminate, limit or modify the use of 
the checks without notice to you, and you agree to surrender 
the checks upon our demand or upon learning of our can-
cellation or withdrawal of the checks. Use of checks or other 
methods of access for kiting or similar activity is an action 
of  default.  The  checks  at  all  times  remain  the  property  of 
PenFed and we may repossess them without the use of court 
process. All of the terms and conditions of this Agreement 
apply to the use of the checks. Only check blanks and other 
methods authorized by PenFed now and in the future may 

be used to obtain funds from your Account. If so authorized 
by  PenFed,  your  use  of  a  personal  identification  number 
(PIN)  for  such  purpose  shall  constitute  your  signature. 
Paid checks become our property and will not be returned 
to  you.  Copies  may  be  provided,  if  requested,  for  a  nomi-
nal fee for each item. Should we decline to pay any check, 
or  if  you  instruct  us  not  to  pay  a  check,  PenFed  shall  not 
be liable, except for gross negligence, for any action it takes 
regarding payment or nonpayment of a check. If we decline 
to pay a check, a charge may be made to your account in the 
amount indicated on our current Schedule of Service Fees 
brochure, which is available at any branch office, on request, 
or at PenFed.org. You will not date any check later than the 
date that you write it. If you do and the check is presented for 
payment before its date, PenFed, in its sole discretion may 
return it unpaid, or pay it. If we pay it, we will charge the Ac-
count. PenFed may, in its sole discretion, pay a check which 
has a date more than six months old.

20. ANNUAL FEE. you may be required to pay a nonre-
fundable annual fee for each Account you have with us for 
which  a  Card  is  issued.  You  will  pay  only  one  annual  fee, 
even if more than one Card is issued for your Account. The 
fee will be charged annually to your Account. This charge 
will appear on your periodic statement for the billing cycle 
when it first becomes effective. 

22. FOREIGN TRANSACTIONS. Purchases and cash 
advances  made  in  foreign  currencies  will  be  debited  from 
your  account  in  U.S.  dollars.  The  exchange  rate  between 
the transaction currency and the billing currency used for 
processing  international  transactions  is  either  a  wholesale 
market rate or the government mandated rate in effect one 
day prior to the date processed by Visa and may include an 
international transaction fee. 

23. CREDIT INSURANCE PLAN. Your purchase of the 
Credit Insurance Plan (“Plan”) is optional. Whether or not 
you purchase this protection will not affect your application 
for credit or the terms of any existing credit agreement you 
have with PenFed. If you do purchase Credit Insurance you 
may  cancel  it  at  any  time  by  notifying  us  in  writing.  You 
understand that you may rescind this plan within 30 days 
after  the  date  your  Credit  Insurance  becomes  effective.  If 
you  rescind,  any  premiums  you  have  already  paid  will  be 
credited to your account. We can terminate this Agreement 
by giving you notice at least 30 days in advance of the termi-
nation. The premium, method of calculation and assessment 
are subject to change. If these terms change we will provide 
written notice before the change goes into effect. Premiums 
will accrue on a daily basis and will be billed to your account 
monthly. Complete details of this optional Credit Insurance 
are included in The Credit Insurance Plan Program Agree-
ment which you will receive upon enrollment.

24.  TRAVEL  ACCIDENT  INSURANCE.  We  agree  to 
provide you with Travel Accident Insurance at no direct cost 
to you. You, your spouse and unmarried dependent children 
will be automatically insured against accidental bodily in-
juries or death while riding in any aircraft or land or water 
conveyance operated by a common carrier licensed to carry 
passengers for hire provided the full travel fare(s) has been 
charged to your Account. Death benefits will be paid to the 
estate  of  the  insured;  all  other  benefits  will  be  paid  to  the 
insured.  This  insurance  is  subject  to  cancellation  without 
prior notice. You understand and agree that the Certificate 
of  Insurance  controls  all  insurance  terms  and  conditions 
to the exclusion of any statements made in this Agreement 
regarding limitations, exclusions, and claims procedures.

24. ASSIGNABILITY OF ACCOUNT. You agree that 
PenFed may at any time sell, transfer or assign your account.

26.  LOST/STOLEN  CARD. You are responsible for the 
possession and use of the Card and must maintain the con-

IMPORTANT: PLEASE READ AND RETAIN FOR YOUR RECORDS

IMPORTANT: PLEASE READ AND RETAIN FOR YOUR RECORDS

fidentiality of the PIN we may assign you. You will notify us 
at once if you believe your Card has been lost or stolen, or if 
you have reason to believe the Card is being used without 
your  permission.  You  may  notify  us  by  calling  800-556-
LOST or 402-399-3600 collect from overseas, or by writing 
to us at Card Services, Pentagon Federal Credit Union, Box 
247027, Omaha, NE 68124-7027.

27.  LIABILITY  FOR  UNAUTHORIZED  USE. If your 
statement  has  an  error  or  a  charge  you  did  not  authorize, 
you  must  tell  us  in  writing  within  60  days  after  you  get 
that  statement.  You  must  follow  all  instructions  on  that 
statement.  If  we  find  no  error  after  investigation,  you  owe 
us  the  original  amount  plus  applicable  interest  and  fees.  
     You are liable for all authorized use of any Card issued 
under  the  Agreement  regardless  of  the  credit  limit  or  the 
party using it. You agree to notify us immediately (using the 
contact  information  listed  in  “Lost/Stolen  Card”,  above.  if 
you suspect unauthorized use of the Card, and to cooperate 
with us in the recovery of any amounts advanced based on 
unauthorized use. You will not be liable for any unauthor-
ized use of the card.

28.  STATEMENTS. We will bill you monthly, on a date 
selected  by  us,  for  amounts  due  under  this  Agreement.  If 
you  elect  to  receive  your  credit  card  statement  electroni-
cally,  you  will  receive  an  email  alerting  you  when  your 
statement is ready to be viewed online. Failure to receive a 
monthly statement or electronic statement notification does 
not  relieve  you  from  making  any  required  minimum  pay-
ment. Upon receipt of each periodic statement, you should 
examine  it  and  immediately  notify  us  in  writing  of  any 
transaction you believe to be in error. If your Account is a 
joint account, we can send statements and notices to either 
of  you.  You  agree  to  notify  us  promptly  of  any  change  in 
your name, address, or email address.

29. PAYMENT SKIP OPTION. At our option, we may 
provide  for  a  payment  skip  option,  which  means  that  you 
may be allowed to skip making the minimum periodic pay-
ment for specified billing cycles. If you accept this payment 
skip option, we will continue to apply the finance charge as 
disclosed above, but no late payment fees will apply to the 
skipped payment. For the billing cycle following a skipped 
payment,  all  the  terms  and  conditions  of  this  Agreement 
(including minimum periodic payment and applicable late 
payment fees) will continue to apply.

30.  OTHER  AGREEMENTS  All  the  terms  and  condi-
tions  of  any  other  agreement  between  us  and  you  and/or 
any other institution that is part of a network of automated 
teller  machines  (ATMs)  in  which  we  participate,  and  any 
applicable  rules  and  regulations,  also  apply  to  use  of  the 
Card. There may be minimum and/or maximum limits on 
the  amount  of  a  cash  advance  dispensed  from  electronic 

terminals  which  accept  the  Card.  All  of  the  transactions 
made by electronic means are subject to verification by us, 
and any checks or other items deposited for collection may 
be deemed to be received and any other transaction may be 
deemed to occur on our next business day. You understand 
that transactions may be limited in some areas. 

You  agree  that  we  do  not  waive  our  rights  under  this 
Agreement if we fail to assert them. The Agreement binds 
and  benefits  us  and  our  successors  and  assigns  and  binds 
you, your estate and your personal representatives. 

31.  APPLICABLE  LAW  This  Agreement  and  your 
Card  and  Additional  Cards,  and  all  questions  about  their 
legality,  enforceability  and  interpretation,  are  governed 
by  the  laws  of  the  Commonwealth  of  Virginia,  USA.

YOUR  BILLING  RIGHTS  (Keep  this  notice  for  future 
use.) This notice tells you about your rights and our respon-
sibilities 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:  Card  Services,  Pentagon 
Federal  Credit  Union,  Box  456,  Alexandria,  VA  22313-
0456. You may also contact us on the Web via our Secure 
Online Message Center at: PenFed.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 or elec-
tronically. You may call us, but if you do we are not required 
to investigate any potential errors and you may have to pay 
the amount in question.

WHAT WILL HAPPEN AFTER WE RECEIVE YOUR 
LETTER.  When  we  receive  your  letter,  we  must  do  two 
things:
1. Within 30 days of 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 er-

ror:

• 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 organiza-
tions  know  when  the  matter  has  been  settled  between  us. 
If we do not follow all the rules above, you do not have to 
pay  the  first  $50  of  the  amount  you  question  even  if  your 
bill is correct. 

YOUR RIGHTS IF YOU ARE DISSATISFIED WITH 
YOUR  CREDIT  CARD  PURCHASES.  If  you  dissatis-
fied 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 is 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.
If all of the criteria above are met and you are still dissatis-
fied with the purchase, contact us in writing or electronical-
ly at: Card Services, Pentagon Federal Credit Union, Box 
456, Alexandria, VA 22313-0456, or online at PenFed.org.
While we investigate, the same rules apply to the disputed 
amount  as  discussed  above.  After  we  finish  our  investiga-
tion, 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.

Information about this card is accurate as of June 2015 but 
may have changed since then. To find out what may have 
changed, please go to PenFed.org or call 800-247-5626.

Police Form 0104 Web  06/15

IMPORTANT: PLEASE READ AND RETAIN FOR YOUR RECORDS