Pricing Information and Cardholder Agreement
PenFed Promise Visa R
Pricing
APR for Purchases
Prime plus 7.74% - 14.74%*
APR for Cash Advances
Prime plus 7.74% - 14.74%*
APR for Balance Transfers
Prime plus 7.74% - 14.74%*
Penalty APR
None
Annual Fee
None
Minimum Interest Charge
None
Foreign Transaction Fee
None
Grace Period
At least 25 days
Average daily balance, including new
Balance Computation Method
purchases
Cash Advance Fee
None
Late Payment Fee
If your balance is less than $1,000:
None
If your balance is $1,000 - $2,000:
None
If your balance is greater than $2,000:
None
Over-the-Limit Fee
None
Balance Transfer Fee
None
Returned Balance Fee
None
Required Fees - Other
None
* Rates are based on your creditworthiness, which includes an evaluation of your credit
history and the length of your PenFed membership. Your actual APR will be disclosed
at the time of credit approval. Not all applicants will qualify for the lowest rate.
Form 1272-PL RAP (12/19) © Pentagon Federal Credit Union, 2019
PENFED
CREDIT UNION
CARDHOLDER AGREEMENT
DEFINITIONS. The "Card" means the Pentagon
upon our request, to furnish us with information
grace period. To avoid finance charges on new
Federal Credit Union (PenFed) credit card
concerning you relevant to the review and
purchases after you transfer a balance, you must
which we issue to you under this Agreement,
evaluation of this Account. You understand and
pay all balances on your Account including any
and includes any device or check used to obtain
agree that we may terminate your Account upon
balances that you transfer in full by the due date.
credit or cash from the Account. Unless otherwise
reevaluation of your creditworthiness.
6. PAYMENTS. A payment delivered by regular
stated, "Account" means your Card Account with
5. FINANCE CHARGES WILL BE IMPOSED
U.S. mail must be sent to the address indicated on
us. An Authorized User is an individual receiving
IN THE FOLLOWING MANNER AND WILL
your periodic statement. Your payment by mail
a Card, but who has no responsibility for payment
BE IN AMOUNTS NOT IN EXCESS OF THOSE
must be a check or money order in U.S. dollars
of the Account. The words "you", "your" and
PERMITTED BY LAW:
with your account number on the check or money
"cardholder" mean each person, jointly and
individually who holds, signs, retains, uses, or
A. PURCHASES: (1) No finance charge will be
order and drawn on a U.S. financial institution,
permits others to use or sign a Card. The words
imposed during the next billing cycle (defined as
and be accompanied by the payment voucher
"our", "we" and "us" mean PenFed or any of its
the time interval between regular monthly billing
from your statement. Write your account number
assignees.
statement dates) if you pay the entire new balance
on your check or money order. All such payments
shown on the current periodic statement and we
will be posted to your Account as of the date we
1. AGREEMENT. We agree to extend credit to you
receive your payment on or before the payment
receive them provided we receive them before
and advance amounts up to your credit limit, but
due date shown on the statement. (2) In all other
5:00 p.m. at the address indicated on your
transaction limits may apply. Your credit limit is
cases, a finance charge will be imposed based
periodic statement. Payments received at other
not increased by any credit balance you may have
on the average daily balance of all purchases
locations or not conforming to these procedures
on your Account. You agree to sign the back of
and debit adjustments, hereafter referred to as
may be delayed in posting, but not more than 5
the Card as soon as you receive it. You agree to
purchases. The average daily balance is the sum
business days from the date of receipt.
pay us for credit extended for the use of the Card
of all outstanding purchases, which is determined
PenFed, in its sole discretion, may accept a
by you or any other cardholder, along with all
by including new purchases and deducting
check for payment on your Account even
applicable finance charges, fees and insurance, if
payments or credits and excluding any unpaid
though payment was made before the date
any apply. By signing, using or permitting others
finance charge for your Account on each day of
of the check or a check which has a date more
to use the Card, you agree to the terms and
the billing cycle divided by the number of days
than 6 months old. For the first six months all
conditions contained in this Agreement, on the
in the billing cycle. A purchase appearing on the
payments received from PenFed members who
Card, on any charge slip resulting from authorized
periodic statement is considered a part of the
have held membership for six months or less
use of the Card, on any authorized cash advance
outstanding balance from the date of posting. (3)
will be credited to your Account as of the date
slip, and to accept responsibility for all actions
The amount of the finance charge is calculated
we receive them, but credit in the amount of
taken with the Card.
by multiplying the average daily balance for
the payment will not be available to you for 10
2. CREDIT LIMIT. You agree to use the Card within
purchases by the monthly periodic rate. The
calendar days. Payments made electronically
the credit limit we authorize. You also agree that
monthly periodic rate is the yearly interest rate
through our automated telephone service,
we can change your credit limit at any time. We
divided by 12.
member service representatives, or our website
are not obligated to accept charges that would
will be subject to any processing times disclosed
CASH ADVANCES. (1) There is no grace period
cause you to exceed your authorized credit limit
with those payments.
on cash advances. Finance charges accrue on all
but we may do so in our sole discretion. Any
Your minimum payment due is the greater of
cash advance amounts from the date charged
extension of credit to you, made or honored by
$15 or 2% of the new balance plus the past due
to your Account and continue so long as such
us, shall be at such times and in such amounts
amount, if any, and/or all amounts in excess of
amounts remain outstanding. (2) A finance charge
and for such purposes as to conform to this
the authorized credit line/limit shown on the
will be imposed on the average daily balance
Agreement, and only when there is no default.
periodic statement. If the new balance does not
of cash advances, which is the sum of the cash
exceed $15, only the new balance total is due
3. CHANGE IN TERMS. You agree that the terms of
advances outstanding each day during the billing
and is shown as the minimum payment due. All
this Agreement are applicable to any cardholder.
cycle, divided by the number of days in the billing
past due or over limit amounts are due and must
You also agree that we can change the terms of
cycle. The sum of cash advances is determined by
be fully paid immediately upon notification. You
this Agreement at any time by adding, deleting,
including new cash advances and deducting any
may, however, pay the total amount due, which
or modifying any provision of the Agreement.
payments or credits and excluding any unpaid
is shown as the new balance, or you may pay any
We will give you notice of any such changes, if
finance charge. A cash advance appearing on the
additional amount you wish over the minimum
required by law.
periodic statement is considered a part of the
payment due.
Termination of the Account by you or PenFed
outstanding balance from the date of posting.
If your payment is not honored or we must return
will not affect your obligation to pay the Account
(3) The amount of finance charge is calculated
it to you because it could not be processed,
balance plus any finance charge and other
by multiplying the average daily balance for
a charge may be made to your Account in the
charges you owe under this Agreement. You are
cash advances by the monthly periodic rate. The
amount indicated for "returned payment" on
responsible for all transactions made to your
monthly periodic rate is the yearly interest rate
PenFed's current Schedule of Service Fees
Account after termination, unless the transactions
divided by 12.
brochure. In addition, for the 6 months following
were unauthorized. Should you choose to cancel
BALANCE TRANSFERS. (1) There is no grace
any such dishonored payment, any payments you
your Account, the terms in effect at the time
period on balance transfers. Finance charges
make will be credited to your Account as of the
that you cancel the Account will apply until the
accrue on all regular or promotional balance
date we receive them, but credit in the amount
outstanding balance of the Account is paid in
transfer amounts from the date posted to your
of the payment will not be available to you for 10
full, unless you are in default. Your Card will no
Account and continue so long as such amounts
calendar days.
longer be available for use for new transactions,
remain outstanding. (2) A finance charge will
You understand and agree that the minimum
including purchases, as the Account will be
be imposed on the average daily balance of
monthly payment will be applied first to the card
closed (if it is not already closed.) Any rewards
balance transfers, which is the sum of the balance
balance with the lowest APR in the following
you have earned, if applicable, will be forfeited
transfers outstanding each day during the billing
order: finance charges, credit life fees (if any),
unless they are redeemed before the Account is
cycle, divided by the number of days in the billing
cash advance balances, and purchase balances.
closed. If you do not notify us of your decision
cycle. The sum of balance transfers is determined
You understand and agree that payments in
to terminate the Account by the date stated in
by including new balance transfers and deducting
excess of the minimum monthly payment will
any notice we provide, or if you notify us but
any payments or credit and excluding any unpaid
be applied first to the card balance bearing the
then use the Account after the date stated in the
finance charge. A balance transfer appearing
highest rate of interest, then to each successive
notice, you will be deemed to accept all changes
on the periodic statement is considered a part
balance bearing the next highest rate of interest
to the Account's terms and conditions of this
of the outstanding balance from the date of
until the payment is exhausted.
Agreement.
posting. (3) The amount of finance charge is
If you are in default because your payment has
7. DEFAULT. You will be in default if you fail
calculated by multiplying the average daily
not been received within 60 days of the due date,
to make any payment by the Payment Due
balance for each balance transfer by its monthly
you do not have the right to reject the changes
Date shown on your Account statement, if you
periodic rate. The monthly periodic rate is the
we make to this Agreement or the Account's
become insolvent or file bankruptcy, if you
yearly interest rate divided by 12. If you transfer
terms and conditions.
become incompetent or die, if a judgment or
a balance from another financial institution to us,
garnishment should be issued against any of
4. FINANCIAL CONDITION CHANGE. You agree
you will immediately incur finance charges at the
your property including any of your Accounts
to advise us of any change in your financial
regular or promotional APR available at the time
with us, if we in good faith consider our or your
condition that may affect your creditworthiness
of the balance transfer and on purchases at the
obligations or your ability to repay or perform
and to provide us with a current loan application
purchase APR. For instance if you transfer $1,000
your obligations with us unsafe or insecure, if
whenever we request one. You expressly
at a promotional rate of 0% APR and then make
this Account or any other account at PenFed
authorize any person, partnership, association,
a purchase of $200, you will immediately accrue
is maintained by you in a manner that PenFed,
firm, corporation or consumer reporting agency,
finance charges at the purchase rate, forgoing the
in its sole discretion, deems contrary to sound
financial practice, or if you fail to live up to any
race track wagers or similar betting transactions;
a replacement Card or terminate or modify this
of your other agreements with us, to include any
and any payment using a third party service.
Agreement. You may terminate an Authorized
PenFed policy or procedure. Subject to law, if you
13. ACCOUNT CLOSURE. You or anyone jointly
User's authority to access your Account at any
default on this Agreement, we can, without giving
liable for the Account may terminate the Account
time. To do this, you must return the Card to
anyone notice, demand immediate payment
at any time by notifying us orally or in writing.
PenFed. You agree that you are responsible
of the remaining balance due including but not
However, this will not relieve you or any of the
for all charges and cash advances made by
limited to any unpaid finance charges, late fees
other joint owners from liability for the repayment
an Authorized User, including charges made
and any other charges due under this Agreement.
of any obligations arising from the use of the
before the Card is returned, recurring charges,
You also agree our obligation for further credit
Account. In addition, recurring charges from a
or charges made without the use of the Card
extensions shall immediately end and we may
third party vendor/merchant will be charged to
initiated by the Authorized User after termination
terminate your Account without further notice
your Account, even though you have requested
of the Authorized User's access.
to you. We can do this if you make any false or
cancellation from PenFed. You must cancel the
LIEN. You hereby appoint PenFed as your
misleading statements on your requests for an
recurring charge with the third party vendor/
agent under a special power of attorney as well as
advance, if you die, file for bankruptcy or if any
merchant. Upon receipt of your notice, we may
give your express consent to enable us to charge
other creditor tries to seize your property.
close your Account or suspend your Account
against any balance in any of your accounts,
If your required minimum payment has not
privileges at any time without prior notice. You
including accounts on which you are a joint owner,
been received within 60 days of the due date,
must return all of the Cards to us upon request.
to include any otherwise statutorily protected
any balance, including a balance transfer with
a promotional rate, will increase to the Penalty
.THIRD PARTY DISCLOSURE We may
funds that may not otherwise be available by
disclose information to third parties, including
legal process, to pay any indebtedness or other
Annual Percentage Rate (Penalty APR). See
but not limited to credit reporting agencies or
outstanding financial obligation owed by you or
Section 10 below for details of the Penalty APR.
merchants, about your Account in order to advise
any person who is listed as a joint owner on your
collection is necessary, you agree to pay all costs
of collection, including attorney's fees and court
such third parties of the existence or condition
accounts, including a deceased joint owner. This
does not include your IRA or any other account
costs, in an amount not more than 25 percent of
of your Account, to evaluate your current credit
the balance due.
worthiness, or as otherwise provided by law.
for which this provision is not permitted. We may
take such action without further notice to you
8. LATE PAYMENT FEES. You may be charged
15. GRANT OF SECURITY INTEREST IN SHARES.
or any joint owner. In regard to those funds that
late payment fee if the Minimum Payment Due is
To protect us if you are in default on any credit
have a statutory protection, you understand that
received 10 or more days past the due date1.
extended or cash advanced under this Account,
you may withdraw the special power of attorney
you have granted a security interest in all of
9. VARIABLE RATES. One or more APRs that
and consent for PenFed to apply such funds to
your shares, deposits, payments and dividends
apply to your Account may vary with changes
pay any such indebtedness by notifying us in
which may be received, whether held jointly or
to the Prime Rate, which means your rate can
writing. If your agency appointment or consent
individually, up to the amount of your outstanding
increase. We calculate the APR by adding a
is withdrawn, PenFed may, in its sole discretion,
balance. The foregoing security interest includes
margin to the Prime Rate published in The Wall
terminate any and all services that you have with
the right to apply funds available to you in any
Street Journal. If The Wall Street Journal stops
the credit union.
jointly held account on your date of This
publishing the Prime Rate, we will select a similar
does not include your individual retirement
20. ISSUANCE/USE OF CARD. Upon receipt
reference rate and inform you on your billing
accounts (IRA). We may take all the shares
of the Card(s), you and all other cardholders
statement or through a separate notice. The
needed by us to repay your credit extension
agree that you will sign the signature panel on
"Prime Rate" is the highest (U.S.) Prime Rate
or cash advance. If it is necessary to take all of
the back of the Card(s). The Card remains the
published in the Money Rates section of The
your shares for the payment of this Account, you
property of Pentagon Federal Credit Union and
Wall Street Journal. A margin is the percentage
understand your membership in PenFed may
may be revoked without notice at any time. The
we add to the Prime Rate to calculate the APR.
end. Collateral securing other loans with the
Card must be surrendered to us upon demand
On the first Tuesday of the first full week of each
credit union may also secure this loan.
or revocation. If we employ an agent to obtain
month, we determine what the Prime Rate is as
Additional notice for Visa Secured cardholders: In
the Card, your Account will be charged with any
published in the Wall Street Journal. We then add
consideration of PenFed's issuing you a Card, you
related fees. No expired, revoked or otherwise
a margin as set forth in the Summary of Terms
pledge your PenFed Share account as security
invalid Card shall be used to obtain or attempt to
issued with your Card to the Prime Rate to get
for this line of credit. To protect us if you are in
obtain credit. You will remain responsible to pay
the APR for the following month ¹. If the APR
default on any credit extended or cash advanced
the amount you owe us according to the terms
increases, you will have to pay a higher periodic
under this Account, you pledge all of your shares,
of this Agreement. Cancellation of the Account
finance charge and may have to make a higher
deposits, payments and dividends which may
will also terminate any other products or services
minimum payment.
be received, whether held jointly or individually,
offered in conjunction with it. However, recurring
10.PENALTY ANNUAL PERCENTAGE RATE. If
up to the amount of your outstanding balance.
charges from a third party vendor/merchant
your required minimum payment is not received
The foregoing pledge includes the right to
be charged to your Account, even though you
within 60 days of the due date, your Account
apply funds available to you in any jointly held
have requested cancellation. You must cancel the
may be subject to change to a Penalty APR. The
account on your date of death. This does not
recurring charge with the third party merchant/
Penalty APR will remain in place until you make
include your individual retirement accounts
vendor.
three consecutive payments on or before the
individual retirement account (IRA). We may take
21. ISSUANCE/USE OF CHECKS. If we issue you
date that each payment is due. In addition, your
all the shares needed by us to repay your credit
checks, these checks are treated as cash advances
balance transfer rate for any outstanding balance
extension or cash advance. If it is necessary to
when they are used and presented for payment.
transfer amounts will increase to the Penalty
take all of your shares for the payment of this
We may refuse to issue or reissue and may also
APR. After three consecutive months of on-time
Account, you understand your membership in
terminate, limit or modify the use of the checks
payments, the rates will be reduced to the rates
PenFed may end. Collateral securing other loans
without notice to you, and you agree to surrender
that applied prior to the increase, unless the
with the credit union may also secure this loan.
the checks upon our demand or upon learning of
temporary promotional rate has expired or the
16. CARD DISHONOR. If a merchant refuses the
our cancellation or withdrawal of the checks. Use
index for the variable rate has changed1.
Card, we will not have any liability or responsibility.
of checks or other methods of access for kiting or
11.
PROMOTIONAL
ANNUAL
PERCENTAGE
No cash refund will be made to or accepted by
similar activity is an action of default. The checks
RATE. At our option, a special promotional rate
you with respect to any adjustment for goods or
at all times remain the property of PenFed and
may be offered from time to time. The specific
services purchased. All adjustments will be made
we may repossess them without the use of court
terms will be provided at the time of the offer.
by credit to your PenFed Account by a properly
process. All of the terms and conditions of this
Generally, the promotional APR will only apply
executed credit voucher issued by the merchant.
Agreement apply to the use of the checks. Only
to select transactions (i.e. purchases or balance
check blanks and other methods authorized by
ILLEGAL, EXCESSIVE, OR ABUSIVE CARD
transfers) during the promotional period. The
PenFed now and in the future may be used to
USE. You agree that illegal use of your Card,
APR rates for all other transactions, not outlined
obtain funds from your Account. If so authorized
or behavior deemed by us to be excessive or
in the promotion as eligible for the promotional
by PenFed, your use of a personal identification
abusive by cardholders(s), will be deemed an
APR, will remain unchanged. If your required
number (PIN) for such purpose shall constitute
action of default and/or breach of contract and
minimum payment is not received within 60 days
your signature. Paid checks become our property
your Account and other related services may be
of the due date, any promotional APR and the
and will not be returned to you. Copies may be
terminated at our discretion. You further agree,
periodic rate for purchases, cash advances, and
provided, if requested, for a nominal fee for each
should illegal, excessive, or abusive use occur, to
balance transfers will increase to the Penalty APR
item. Should we decline to pay any check, or if
waive any right to sue PenFed for such use or any
until 3 consecutive payments are made on time.
you instruct us not to pay a check, PenFed shall
activity directly or indirectly related to it. You also
not be liable, except for gross negligence, for any
12. CASH AND CASH-LIKE TRANSACTIONS.
agree to indemnify and hold PenFed harmless
action it takes regarding payment or nonpayment
The following transactions will be treated as
from any suits or other legal action or liability,
of a check. If we decline to pay a check, a charge
cash advances when conducted with your Card,
directly or indirectly, resulting from such use.
may be made to your Account in the amount
account number, checks or mobile device: any
18. AUTHORIZED USER. You may request us
indicated on our current Schedule of Service Fees
person to person transfers or transfers to any
to issue a Card to an individual who has no
brochure, which is available at any branch office,
PenFed or non-PenFed account, bill pay, overdraft
financial responsibility under this Agreement.
on request, or at PenFed.org. You will not date
protection, ATM or over the counter advances, the
An Authorized User has the same access to your
any check later than the date that you write it. If
purchase of travelers checks, foreign currency,
Account as you do, subject to any limitations
you do and the check is presented for payment
money orders, bail bonds, cryptocurrency, wire
we may impose. An Authorized User has no
before its date, PenFed, in its sole discretion
transfers, lottery tickets, casino gaming chips,
authority to add or delete cardholders, request
may return it unpaid, or pay it. If we pay it, we
will charge the Account. PenFed may, in its sole
statements and notices to either of you. You
WHAT WILL HAPPEN AFTER WE RECEIVE
discretion, pay a check which has a date more
agree to notify us promptly of any change in your
YOUR LETTER. When we receive your letter, we
than six months old.
name, address, or email address.
must do two things:
22. ANNUAL FEE. You may be required to pay a
29. PAYMENT SKIP OPTION. At our option, we
1. Within 30 days of receiving your letter, we
nonrefundable annual fee for each Account you
may provide for a payment skip option, which
must tell you that we received your letter. We
have with us for which a Card is issued. You will
means that you may be allowed to skip making the
will also tell you if we have already corrected
pay only one annual fee, even if more than one
minimum periodic payment for specified billing
the error.
Card is issued for your Account. The fee will be
cycles. If you accept this payment skip option,
2. Within 90 days of receiving your letter, we
charged annually to your Account. This charge
we will continue to apply the finance charge as
must either correct the error or explain to you
will appear on your periodic statement for the
disclosed above, but no late payment fees will
why we believe the bill is correct.
billing cycle when it first becomes effective1.
apply to the skipped payment. For the billing
While we investigate whether or not there has
23. FOREIGN TRANSACTIONS. Purchases and
cycle following a skipped payment, all the terms
been an error:
cash advances made in foreign currencies will be
and conditions of this Agreement (including
We cannot try to collect the amount in
debited from your Account in U.S. dollars. The
minimum periodic payment and applicable late
question, or report you as delinquent on that
payment fees) will continue to apply.
amount.
exchange rate between the transaction currency
and the billing currency used for processing
30. OTHER AGREEMENTS. All the terms and
The charge in question may remain on your
international transactions is either a wholesale
conditions of any other agreement between us
statement, and we may continue to charge you
market rate or the government mandated rate in
and you and/or any other institution that is part of
interest on that amount.
effect one day prior to the date processed by Visa
a network of automated teller machines (ATMs)
While you do not have to pay the amount in
and may include an international transaction fee.
in which we participate, and any applicable rules
question, you are responsible for the remainder
and regulations, also apply to use of the Card.
of your balance.
24. DEBT PROTECTION PLAN. Your purchase
of the Debt Protection Plan ("Plan") is optional.
There may be minimum and/or maximum limits
We can apply any unpaid amount against your
Whether or not you purchase this protection
on the amount of a cash advance dispensed from
credit limit. After we finish our investigation,
electronic terminals, which accept the Card. All
one of two things will happen:
will not affect your application for credit or the
terms of any existing credit agreement you have
of the transactions made by electronic means
If we made a mistake: You will not have to pay
are subject to verification by us, and any checks
the amount in question or any interest or other
with PenFed. If you do purchase Debt Protection,
or other items deposited for collection may be
fees related to that amount.
you may cancel it at any time by notifying us in
writing. You understand that you may rescind
deemed to be received and any other transaction
If we do not believe there was a mistake: You
this plan within 30 days after the date your Debt
may be deemed to occur on our next business
will have to pay the amount in question, along
day. You understand that transactions may be
with applicable interest and fees. We will send
Protection becomes effective. If you rescind,
limited in some areas.
you a statement of the amount you owe and
any premiums you have already paid will be
You agree that we do not waive our rights
the date payment is due. We may then report
credited to your Account. We can terminate this
Agreement by giving you notice at least 30 days
under this Agreement if we fail to assert them.
you as delinquent if you do not pay the amount
in advance of the termination. The premium,
The Agreement binds and benefits us and our
we think you owe.
successors and assigns and binds you, your
If you receive our explanation but still believe
method of calculation and assessment are subject
to change. If these terms change, we will provide
estate and your personal representatives.
your bill is wrong, you must write to us within
10 days telling us that you still refuse to pay. If
written notice before the change goes into effect.
31. APPLICABLE LAW. This Agreement and your
you do so, we cannot report you as delinquent
Premiums will accrue on a daily basis and will be
Card and Additional Cards, and all questions about
without also reporting that you are questioning
billed to your Account monthly. Complete details
their legality, enforceability and interpretation,
your bill. We must tell you the name of anyone
of this optional Debt Protection are included in
are governed by the laws of the Commonwealth
to whom we reported you as delinquent, and
The Debt Protection Plan Program Agreement
of Virginia, USA.
we must let those organizations know when the
which you will receive upon enrollment.
32. MILITARY LENDING ACT. Federal law
matter has been settled between us. If we do not
25. ASSIGNABILITY OF ACCOUNT. You agree
provides important protections to members of
follow all the rules above, you do not have to pay
that PenFed may at any time sell, transfer or
the Armed Forces and their dependents relating
the first $50 of the amount you question even if
assign your Account.
to extensions of consumer credit. In general,
your bill is correct.
LOST/STOLEN CARD. You are responsible
the cost of consumer credit to a member of the
YOUR RIGHTS IF YOU ARE DISSATISFIED WITH
for the possession and use of the Card and
Armed Forces and his or her dependent may not
YOUR CREDIT CARD PURCHASES. If you are
must maintain the confidentiality of the PIN we
exceed an annual percentage rate of 36 percent.
dissatisfied with the goods or services that you
may assign you. You will notify us at once if you
This rate must include, as applicable to the credit
have purchased with your credit card and you
believe your Card has been lost or stolen, or if
transaction or account: The cost associated
have tried in good faith to correct the problem
you have reason to believe the Card is being
with credit insurance premium; fees for ancillary
with the merchant, you may have the right not to
used without your permission. You may notify
products sold in connection with the credit
pay the remaining amount due on the purchase.
us by calling 800-247-5626 or 402-399-3600
transaction; any application fee charged (other
To use this right, all of the following must be true:
collect from overseas, or by writing to us at Card
than certain applications fees for specified credit
1. The purchase must have been made in your
Services, Pentagon Federal Credit Union, Box
transactions or accounts); and any participation
home state or within 100 miles of your current
456, Alexandria, VA 22313-0456.
fee charged (other than certain participation fees
mailing address, and the purchase price must
for a credit card account). For more information,
have been more than $50. (Note: Neither of
27.LIABILITY FOR UNAUTHORIZED USE. If your
please contact PenFed at 800-247-5626.
statement has an error or a charge you did not
these is necessary if your purchase was based
YOUR BILLING RIGHTS (Keep this notice for
on an advertisement we mailed to you, or if we
authorize, you must tell us in writing within 60
days after you get that statement. You must
future This notice tells you about your rights
own the company that sold you the goods or
follow all instructions on that statement. If we
and our responsibilities under the Fair Credit
services.)
find no error after investigation, you owe us the
Billing Act.
2. You must have used your credit card for the
WHAT TO DO IF YOU FIND A MISTAKE ON YOUR
purchase. Purchases made with cash advances
original amount plus applicable interest and fees.
from an ATM or with a check that accesses
You are liable for all authorized use of any Card
STATEMENT. If you think there is an error on your
issued under the Agreement regardless of the
statement, write to us at: Card Services, Pentagon
your credit card account do not qualify.
Federal Credit Union, Box 456, Alexandria, VA
3. You must not yet have fully paid for the
credit limit or the party using it. You agree to
notify us immediately by calling 800-247-5626 or
22313-0456. You may also contact us on the
purchase.
Web via our Secure Online Message Center at:
If all of the criteria above are met and you are
402-399-3600 collect from overseas, or writing
to us at Card Services, Pentagon Federal Credit
PenFed.org. In your letter, give us the following
still dissatisfied with the purchase, contact us
Union, Box 456, Alexandria, VA 22313-0456 if
information:
in writing or electronically at: Card Services,
you suspect unauthorized use of the Card, and to
Account information: Your name and account
Pentagon Federal Credit Union, Box 456,
number.
Alexandria, VA 22313-0456, or online at PenFed.
cooperate with us in the recovery of any amounts
advanced based on unauthorized use. You will
Dollar amount: The dollar amount of the
org. While we investigate, the same rules apply to
not be liable for any unauthorized use of the Card.
suspected error.
the disputed amount as discussed above. After
Description of problem: If you think there is an
we finish our investigation, we will tell you our
28. STATEMENTS. We will bill you monthly, on a
error on your bill, describe what you believe is
decision. At that point, if we think you owe an
date selected by us, for amounts due under this
wrong and why you believe it is a mistake.
amount and you do not pay, we may report you
Agreement. If you elect to receive your credit
as delinquent.
card statement electronically, you will receive
You must contact us:
an email alerting you when your statement is
Within 60 days after the error appeared on
ready to be viewed online. There may be a $1
your statement.
Refer to the Summary of Terms issued with your Card
fee for each paper statement received1. Failure
At least 3 business days before an automated
Information about this Card is accurate as of
to receive a monthly statement or electronic
payment is scheduled, if you want to stop
March 2020 but may have changed since then.
statement notification does not relieve you from
payment on the amount you think is wrong.
To find out what may have changed, please go to
making any required minimum payment. Upon
You must notify us of any potential errors in
PenFed.org or call 800-247-5626.
receipt of each periodic statement, you should
writing or electronically. You may call us, but if
examine it and immediately notify us in writing
you do, we are not required to investigate any
of any transaction you believe to be in error. If
potential errors and you may have to pay the
your Account is a joint account, we can send
amount in question.
Form 1203 (03/20) 2020 PenFed