B. Maximum Credit Limit. You will provide me with notice of my 
maximum credit limit on my monthly billing statement, and 
I agree you may change my limit at any time. I agree never 
to use my Card when the use will exceed my maximum credit 
limit. I also agree that you are not obligated to extend to 
me credit for an amount that would make my outstanding 
balance exceed my maximum credit limit, or for any amount 
if my outstanding balance is already over the maximum credit 
limit. Any increases in my maximum credit limit I request may 
require that I make a written application for your approval. I 
will pay any amounts which exceed my maximum credit limit 
upon demand. You may re-evaluate my financial condition 
if I request a higher credit limit, or at any other time, and 
this may include obtaining a current credit bureau report or 
screening, and/or asking me for current financial information. 
Based on such a review, you may immediately increase, re-
duce or even revoke my Account without prior written notice.

C. Monthly Statement. If I have an outstanding debit or credit 
New Balance of $1.00 or more, or if there is any Finance 
Charge imposed during a billing cycle, you will send me a 
statement. I agree to pay you for all Purchases, Cash Ad-
vances, fees and charges, if any, and Finance Charges on my 
Account, all payable in United States dollars. Payment checks 
must be drawn on a financial institution or other entity domi-
ciled in the United States.

Posting of my payment will be delayed if I present you a 
check drawn on a non United States domiciled financial 
institution or entity. The payment will not be credited to my 
Account until the funds have been collected in United States 
dollars. I agree to allow the Credit Union to debit my account 
for any collection and processing fees associated with han-
dling this payment.

D. Finance Charges. You will impose Finance Charges as follows:

Purchases

1. A Finance Charge is imposed on purchases from the date 

of posting to my Account to the date of repayment.

2. For each billing cycle:

a) You multiply the Monthly Periodic Rate times the Average 
Daily Balance of Purchases. The Average Daily Balance 
is the sum of the daily unpaid balances of purchases on 
each day of the billing cycle covered by my current billing 
statement divided by the number of days in the billing 
cycle. Such unpaid balances are determined by deducting 
payments and credits applied against such unpaid balances 
and by adding new purchases, unpaid finance charges, 
fees and other charges, in each case, as of the date 
posted to my Account.

b) You multiply the Monthly Periodic Rate times the Average 
Daily Balance of Previous Billing Cycle Purchases. The 

Average Daily Balance of Previous Billing Cycle Purchases 
is the sum of the unpaid balances of purchases itemized 
on my last billing statement on each day of the billing 
cycle covered by my last billing statement divided by the 
number of days in the billing cycle. Such unpaid balances 
are determined by deducting payments and credits applied 
against such unpaid balances and by adding new pur-
chases, unpaid finance charges, fees and other charges, in 
each case, as of the date posted to my Account.

c) You add the amounts determined under (a) and (b) to 

obtain the Finance Charge on purchases.

3. A Finance Charge is not imposed on:

c) You may also charge a one-time Finance Charge for cash 
advances equal to 2% of the amount of each new cash 
advances, with a minimum Finance Charge of $4.00 for 
advances at financial institutions, casinos, ATMs, wire funds, 
transfers to other credit union accounts, over drafts to your 
Credit Union check account or Western Union transfers.

d) You add the amounts determined under a), b) and c) to 

obtain the Finance Charge on Cash Advances.

3. All forms of cash advances, including the use of Conve-

nience Checks or over drafts to your Credit Union checking 
account, regardless of the purpose for which used, shall 
be subject to the Finance Charges as set forth above.

a) New purchases posted during a billing cycle if: (a) I paid 

E. Monthly Periodic Rate (MPR) and Corresponding Annual 

the New Balance shown on the billing statement covering 
the preceding billing cycle by the Payment Due Date shown 
on the billing statement or such New Balance was zero and 
(b) I pay the New Balance shown on the billing statement 
itemizing the new purchases by the Payment Due Date 
shown on that billing statement.

b) Old purchases previously posted for a billing cycle during 
which I pay the New Balance shown on the billing state-
ment covering the preceding billing cycle by the Payment 
Due Date shown on that billing statement.

Cash Advances

1. A Finance Charge is imposed on cash advances as from the 

date of transaction to the date of repayment.

2. For each billing cycle:

a) You multiply the Monthly Periodic Rate times the Average 

Daily Balance of Cash Advances. The Average Daily Balance 
is the sum of the daily unpaid balances of cash advances 
on each day of the billing cycle covered by my current bill-
ing statement divided by the number of days in the billing 
cycle. Such unpaid balances are determined by deducting 
payments and credits applied against such unpaid balances 
and by adding unpaid finance charges, in each case, as of 
the date posted to my Account and by adding new cash 
advances as of the date of the transaction.

b) You multiply the Monthly Periodic Rate times the Average 
Daily Balance of Previous Billing Cycle Cash Advances. The 
Average Daily Balance of Previous Billing Cycle Cash Advances 
is the sum of the unpaid balances of cash advances itemized 
on my last billing statement on each day of the billing cycle 
covered by my last billing statement divided by the number of 
days in the billing cycle. Such unpaid balances are determined 
by deducting payments and credits applied against such un-
paid balances and by adding unpaid finance charges, in each 
case, as of the date posted to my Account and by adding new 
cash advances as of the date of the transaction.

Percentage Rates (APR). The following interest rates apply as 
of March 1, 2010:

(Fixed) 

VISA Gold* 

APR 

MPR

14.65% 
16.65% 
18.0% 

1.22% 
1.39% 
1.50% 
1.05%

VISA Relationship**  12.65% 

*Annual Percentage Rates are established by the credit 
worthiness of the applicant at the time of application for 
new or extensions to credit lines.

**Visa Relationship Annual Percentage Rates may be 
granted if I have a qualifying loan, savings or checking 
account with Provident Credit Union at the time I open 
the Visa Credit Card Account. I understand that Provident 
may review my account relationship periodically and may 
increase my Visa Credit Card Rate should I no longer have 
the account that qualified me for this discounted rate.

Promotional Programs. From time to time you may offer spe-
cial programs based upon the use of my account. Any such 
program may offer me an opportunity to receive a lower 
Annual Percentage Rate on all or a portion of my balance. I 
understand that payments will be applied first to the portion 
of my balance with the lowest Annual Percentage Rate  
however if I make a payment in excess of the minimum 
payment due in any cycle, the amount of the payment that 
exceeds the minimum payment will be applied to the high-
est Annual Percentage Rate on the account.

VISA Gold – Premier Accounts – Variable Rate: 

The Monthly Periodic Rate and the Corresponding Annual 
Percentage Rate applicable in my account shall be determined 
as provided in the table below. To determine the range into 
which my account falls, you will use the “Last Statement Bal-
ance” on my account, on the Statement Closing Date. Then 
depending on that range, you will apply a monthly periodic 
rate as follows:

Last Statement Balance 

APR 

MPR

I.  Convenience Checks. I may request convenience checks, 

$1.00 to $4,999.00 
$5,000.00 to $9,999.00 
$10,000.00 and above 

14.65%  1.22% 
13.65%  1.14% 
12.65%  1.05%

I understand that my Monthly Periodic Rate may vary from 
month to month based upon my outstanding balance.

F.  Periodic Billing Statements. If I have a balance on my Account 
at the end of a billing cycle, you will furnish a periodic bill-
ing statement (normally monthly) itemizing my purchases, 
advances and where applicable previous payments. 

G. Minimum Payment. I agree to pay each statement by remitting 

to you (within 25 days from the date of the billing state-
ment’s closing date) the required minimum payment due, 
which will be the greater of 2% of the outstanding balance 
on my Account or $25.00. I have the option of making larger 
payments on the Account at any time without penalty.

H. Fees and Charges.

1. Late Payment Fee: My Minimum Payment Due will be past 

due if it is not received by you on or before the Pay-
ment Due Date shown on each monthly statement. A fee 
of $15.00 will be charged to my Account, if at least the 
Minimum Payment Due, including unpaid payments, is not 
received by you within 15 days after the Payment Due Date.

2. Returned Payment Check Fee: If I make a payment by 

check and the check is returned unpaid for any reason, my 
Account will be charged $15.00 for each returned check.

3. Automatic Payment Reversal Fee: If I have elected to have 
the payment(s) on my Account automatically deducted 
from another credit union account and I fail to maintain 
sufficient funds in this account causing my payment to be 
reversed, my Account will be charged $15.00.

4. Returned Convenience Check Fee: If I write a Convenience 
Check and it is in excess of my available credit, my pay-
ments are not current, or you have canceled my Account, 
it may be returned and my Account will be charged $15.00 
for each returned Convenience Check.

5. Stop Payment Fee. If I am issued Convenience Checks to 

access my Account and I stop payment on a check, my Ac-
count will be charged $10.00 for each stop payment.

6. Fee for Documents: If I request a copy of a charge slip or 
other document not in connection with a billing error, you 
may charge my Account $6.00 for each copy.

7. Replacement or Additional Card Fee: If I request an ad-

ditional card to replace the card initially issued to me, for 
any reason other than the card not being received by me 
or a defect in its manufacture, or if I request a card for 
an additional user on my account, you may charge my Ac-
count $10.00 for each card.

which I may write against the available credit on my Account. 
Each time I write a check against my Account, I authorize you 
to pay the check when it is presented to you. I understand 
that you will pay checks unless the balance on my Account 
exceeds the available credit, my payments are not current, or 
you have canceled my Account for any reason. 

J.  Charges Made in Foreign Currency. If I incur a charge in a foreign 
currency, the charge will be converted by VISA International 
into a United States Dollar amount. VISA International will use 
the procedures set forth in its Operating Regulations in effect 
at the time that the transaction is processed. Currently those 
regulations provide that the currency conversion rate to be used 
is either a wholesale market rate or a government mandated 
rate in effect one day prior to the processing date. The currency 
conversion rate in effect on the processing date may differ for 
the rate in effect on the transaction date or on the posting date. 
I will be charged a Foreign Transaction Fee equal to 2% of the 
transaction amount in U.S. currency.

K. Application of Payments. I agree to make all payments on my 

account in United States Dollars which you will apply in the fol-
lowing order: to the outstanding balance of the cash advance 
and loan advance transactions made from my Account, then 
to the outstanding principal balance of the purchase advance 
transactions made from my Account. If the payments and cred-
its received by you within 25 days from the billing date total 
less than the New Balance, or if a portion of the New Balance 
includes cash or loan advances, the next periodic statement 
will include a finance charge which I agree to pay.

L.  Events of Default. I will be in default under the Account and 
Agreement if any of the following events shall occur: (a) If I 
fail to comply with the minimum payment or any other terms 
or conditions of this Agreement or on any other obligation 
I have or will have with you; (b) if I try to exceed my credit 
limit without your permission; (c) if I have made any false or 
misleading statements on any credit application submitted to 
you; (d) if I should die or become insolvent; (e) if a petition 
should be filed or other proceedings should be started under 
the Federal Bankruptcy Code, by any authorized signer on the 
Account, whether or not you have been listed as a creditor; 
(f) if a Receiver should be appointed or a writ or order of 
attachment, levy or garnishment should be issued against me 
or any of my property, assets or income; or, (g) if you should 
consider that any debts due under this Agreement unsafe or 
not completely secure or if you should believe, in good faith, 
that the chances of my paying or performing all of my obliga-
tions under this Agreement have been impaired.

If default occurs under this Agreement, you may, at your 
option, without notice to me, terminate this Agreement, 
revoke my right to use the Card, and demand that I pay you 

 
 
 
 
immediately all sums which I owe you. Interest will continue 
to accrue at the contract rate after default.

M. Collection Costs. I agree that if you assign my Account to 

an independent collection agency, or file a lawsuit to collect 
amounts I owe you, that I will pay all costs, disbursements 
and reasonable attorneys’ fees incurred by you in legal pro-
ceedings to collect or enforce my indebtedness in the event 
of delinquency by me or in the event of a breach of any 
obligation by me, whether or not a lawsuit is filed.

N. Ownership of Card. Any Card or other credit instrument which 
you supply to me is your property and must be returned to 
you immediately upon demand or upon notice of cancellation 
of my Account.

O. Use of Card and Account by Others. If I so request, you may 

issue cards not only to me, but also to others who will only be 
authorized users of the Account. Such additional cards may 
be imprinted either with my name or with the names of the 
authorized user(s). I agree that if I permit another person to 
use my Account (whether or not I have told the Credit Union 
that such person will be using my Account), with or without 
the Card, PIN, or Convenience Check(s), that I will pay for any 
Purchases or Advances made by such person(s) on my Account 
and any finance or other charges imposed on those Purchases 
and Advances, even if the amount exceeds my permission.

If I have authorized someone to us my Account and I want to 
terminate that person’s access, I agree that I must notify you 
in writing; if possible, enclosing the Card(s) used by that per-
son, cut in two. Once I have notified you that this individual 
is no longer authorized, even if the card is not recovered, my 
liability ceases for future charges made to the Account. I may 
request you to cancel all cards and establish a new Account 
for me. If I request you to terminate the use of my PIN by 
another person, you will cancel my PIN and issue a new PIN.

P.  Transfer of Account. I cannot transfer or assign my Account 

to any other person or Trust.

Q. Change of Address. I will advise you promptly if I change my 
mailing address. All written notices and statements from you 
to me will be considered given when placed in the United 
States mail, postage prepaid, and addressed to me at my cur-
rent address as it appears in your records.

R. Irregular Payments. You may accept late payments or partial 

payments, or checks, drafts or money orders marked “Payment 
in Full” without losing any of your rights under this Agreement.

S  Security. Other than for a Share Secured Account, no security 
interest is taken in my property to secure payment. However, 
collateral securing other loans with you may also secure this 
loan, except for my principal dwelling and household goods. 

T.  Amendments. You may change any part of this Agreement at 
any time, as long as, when applicable, you give me advance 

written notice as required by law. Any change in terms will 
apply to my outstanding balance existing as of the effective 
change date as well as to all charges made after that date.

U. Cancellation. I can cancel my Account at any time by returning 
to you my Card, along with a letter requesting that you cancel 
my Account. You may cancel this Agreement at any time. 
However, my obligation under this Agreement and any charges 
made under it prior to cancellation will continue to apply until I 
have paid you all the money I owe on the Account.

V.  Skip Payment. At your option, you may not require me to 

make a Minimum Payment during certain designated billing 
cycles. If I do not make my Minimum Payment as provided 
in the Agreement, I understand you will continue to apply 
Finance Charges to my Account. Beginning with the billing 
cycle following a skip payment, I agree that all of the provi-
sions of this Agreement shall apply.

W. Automatic Payment Option. If I have requested this optional 
service, you will automatically transfer the amount of the 
payment requested from my designated Credit Union ac-
count. The payment option can be designated by me as one 
of the following: (1) Full Payment; (2) Minimum Periodic 
Payment; or, (3) a specified dollar amount. If the amount I 
have designated for payment is greater than the amount of 
available funds being on deposit on the day of the transfer 
the transfer has been made, the transfer will be reversed. 
If I make additional payments during the billing cycle, the 
automatic transfer may still take place on the statement 
closing date. You may cancel this service if the transfers are 
not honored because of insufficient and/or unavailable funds 
in my deposit account and you will notify me of this action. 
I may cancel this service at any time, however I understand 
that one more transfer(s) may occur if I do not provide suf-
ficient notice for the Credit Union to input the change.

X. Liability for Unauthorized Use. I may be liable for the unau-

thorized use of my Card. I will not be liable for any unauthor-
ized use that occurs after I notify Payment Systems for Credit 
Unions orally, of the loss, theft or possible unauthorized use. 
In any case, my liability will not exceed $50.00. I may report a 
lost or stolen Card by calling 1-(800) 449-7728.

Y.  Illegal Transactions. I understand that I am not permitted to 
use my Account for any illegal transaction, such as unlawful 
gambling. The legality of any transaction will not affect my 
liability for the balances I have incurred on my account.

AA. Lost and Stolen Cards. If I report my Card lost or stolen as 

provided in paragraph Z, then recover or find my Card and fail 
to notify you immediately of the recovery at 1-800 449-
7728, I agree to pay you the amount of any reward previ-
ously paid by you to a retail merchant to recover the Card I 
reported as lost or stolen.

BB. Other Provisions. Each of us who signed the Application and/

or requested the Account or use the Account is individually 
and jointly obligated for all payments due under this Agree-
ment. The Account has been applied for, considered, ap-
proved and issued in the State of California and all extensions 
of credit are being made from the State of California. I agree 
that this Agreement shall be governed by and interpreted un-
der California and Federal Law. If any part of this Agreement 
is not valid, all other parts will remain enforceable.

My Billing Rights - Keep This Notice for Future Use

This notice contains important information about my rights and 
your responsibilities under the Fair Credit Billing Act.

What To Do If I find A Mistake on My Statement

If I think there is an error on my statement, I should rite to you at:

Provident Credit Union 
P.O. Box 8007 
Redwood City, CA 94063-0907

Or I may also contact you on the Web: Providentcu.org

In my letter, I will give you the following information:

•  Account information: My name and account number.

•  Dollar amount: The dollar amount of the suspected error.

•  Description of problem: If I think there is an error on my bill, 
describe what I believe is wrong and why I believe it is a mis-
take.

I must contact you:

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

•  At least 3 business days before an automated payment is 

scheduled, if I want to stop payment on the amount I think is 
wrong.

I must notify you of any potential errors in writing [or elec-
tronically]. I may call you, but if I do you are not required to 
investigate any potential errors and I may have to pay the amount 
in question.

What Will Happen After You Receive My Letter

•  While I do not have to pay the amount in question, I am 

responsible for the remainder of the balance.

•  You can apply any unpaid amount against my credit limit. After 
you finish your investigation, one of two things will happen:

If you made a mistake: I will not have to pay the amount in ques-
tion or any interest or other fees related to the amount.

If you do not believe there was a mistake: I will have to pay the 
amount in question, along with applicable interest and fees. You 
will send me a statement of the amount I owe and the date pay-
ment is due. You may then report me as delinquent if I do not pay 
the amount you think I owe.

If I receive your explanation but still believe my bill is wrong, I 
must write to you within 10 days telling you that I still refuse to 
pay. If I do so, you cannot report me as delinquent without also 
reporting that I am still questioning your bill. You must tell me the 
name of anyone to whom you reported me as delinquent, and 
you must let those organizations know when the matter has been 
settled between us.

If you do not follow all of the rules above, I do not have to pay 
the first $50 of the amount I question even if my bill is correct.

Your Rights If You Are Dissatisfied With Your Credit Card Purchases

If I have a problem with the quality of property or services that 
I purchased with a credit card, and I have tried in good faith to 
correct the problem with the merchant, I may have the right not 
to pay the remaining amount due on the property or services.

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

1. I must have made the purchase in my home state or, if not 

within my home state, within 100 miles of my current mailing 
address; and, the purchase price must have been more than 
$50.00. (Note: Neither of these are necessary if your purchase 
was based on an advertisement you mailed to me, or if you 
own the company that sold me the goods or services).

2. I must have used my credit card for the purchase. Purchases 
made with cash advances from an ATM or with a check that 
accesses my credit card account do not qualify.

When you receive my letter, you must do two things:

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

1. Within 30 days of receiving my letter, you must tell me that 

you received my letter. You will also tell me if you have already 
corrected the error.

2. Within 90 days of receiving my letter, you must either correct 
the error or explain to me why you believe the bill is correct. 
While you investigate whether or not there has been an error:

•  You cannot try to collect the amount in question, or report me 

as delinquent on that amount.

•  The charge in question may remain on my statement, and you 

may continue to charge me interest on that amount.

If all of the criteria above are met and I am still dissatisfied with 

the purchase, contact us in writing at:

Provident Credit Union 
P.O. Box 8007 
Redwood City, CA 94063

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

3/10

M-99994

VISA Gold Credit Card Agreement, Over-
draft Protection Agreement, and Truth In 
Lending Disclosure Statement
This is your Cardholder Agreement with Provident Credit Union 
which outlines the terms to which you agree by requesting, 
receiving, signing, using or authorizing another to sign and use, 
any Credit Card, PIN, Credit Account, or other credit devices 
issued to you here under. This Agreement covers your VISA Gold 
Cards. Please read this agreement and keep it for your records.

In this Agreement, the word “Account” means the Credit Card 
Account opened pursuant to this Agreement, including use of 
your Card, PIN or Loan Advance Checks. “Card” means one or 
more cards and “PIN” means Personal Identification Number 
issued with respect to the Account. The words “I,” “me,” “my” 
which also mean “we,” “us” and “our,” if more than one person, 
mean the person or persons who use or authorize the use of 
the VISA credit card or sign an application for a VISA credit card. 
The words “you,” “your,” and “yours” mean Provident Credit 
Union or its authorized agents. 

A. How to Use this Account. I can purchase or lease goods and 
services (“Purchases”) from a merchant up to my maximum 
credit limit by presenting my VISA credit card (“Card”) and 
signing a sales slip for the amount of the Purchase. I may 
also use my card:

1. To obtain cash loans (“Cash Advances”) up to my maximum 
credit limit from financial institutions that accepts a VISA 
credit card;

2. By use of pre-printed convenience checks that you may 

issue to me;

3. By making withdrawals with this Card at an automated 

teller machine;

4. By granting merchants telephonic authorization to charge 

products or services to my account;

5. By using my Card to charge phone calls; or,

6. By issuing checks or drafts or the accrual of any charges 
against my checking account with Provident Credit Union 
in excess of its balance (if overdraft feature is available). 
Advances made by automatic transfer of funds directly into 
my pre-designated checking account(s) may be in multiples 
of $100.00 or in the amount of the overdraft depending 
on which option is available.

7. By making transfers of available funds to another credit 

union account through the credit union’s Touch Tone Teller 
or Account Manager systems, or through direct contact 
with a credit union representative.