The Golden 1 Credit Union
Student Visa® Credit Card Application Disclosure

Interest Rates and Interest Charges

Fixed Annual percentage 
rate (APR) for purchases

14.90%
The rate will not increase while the plan is open

APR for Cash Advances

14.90%, the rate will not increase while the plan is open

Penalty APR

NONE

How to Avoid Paying Interest 
on Purchases

Your due date is at least 25 days after the close of each billing cycle. We 
will not charge you interest on purchases if you pay your entire balance 
by the due date each month. 

For Credit Card Tips from the 
Federal Reserve Board

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

Fees
Annual Fee

Transaction Fees

 Cash Advance

NONE

NONE



Foreign Transaction

1% of each transaction in U.S. dollars.

Penalty Fees



Late Payment

 Returned Payment

Up to $15

$5

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

L-145 Revised 7.1.2010

Student Visa® Credit Card Agreement and Disclosure Statement

By using your Golden 1 Credit Union Visa credit card (“Card”), you agree to the following terms and conditions, the 
terms and conditions disclosed on the separate Visa Credit Card Agreement (“Visa Agreement”) and any future 
amendments to this Credit Card Agreement and Disclosure Statement (“Disclosure”).

This Disclosure describes the terms and conditions of the Card offered by The Golden 1 Credit Union (“Golden 1”). In 
this Disclosure, “you,” “your” and “Borrower” mean each person who signs the Application (“Application”) or otherwise 
agrees to its terms in writing (member and non-member co-applicants). “Golden 1,” “we,” “our” and “us” mean   
Golden 1 or anyone to whom Golden 1 transfers its rights under this Disclosure. 

ACCEPTING THIS DISCLOSURE
We strongly recommend that you read this Disclosure carefully and thoroughly before using your Card. You understand 
that by using your Card, you are agreeing to all the terms and conditions set forth below, plus any amendments that 
may be provided during the life of your credit card account (“account”). If you do not agree to these terms and 
conditions, DO NOT USE the Card and notify us immediately that you wish to cancel your account with Golden 1. For 
your safety, if you have received a card or checks to access the account, destroy them when you notify us.

EFFECT OF DISCLOSURE

Change in terms
This Disclosure may be changed from time to time to affect the terms of this Disclosure, including, but not limited to, the 
amount of your payments, fees, charges and/or interest rate assessed pursuant to this Disclosure, provided we give you 
advance notice of the changes as provided in this Disclosure and applicable law. If you keep or use the Card after our 
notice we will consider that you have accepted the changes. The new terms will apply both to new purchases and cash
advances, and to the outstanding balance of your account.

Other agreements
Use of the Card is subject to the terms of existing Visa U.S.A. regulations governing your Golden 1 Visa and any future 
changes to those regulations.

Severability
Should any provision of this Disclosure be determined to be invalid or unenforceable under any law, rule or regulation, 
that determination shall not affect the validity or enforceability of any other provision of this Disclosure.

Choice of law
This Disclosure and your account shall be governed by the laws of the State of California without regard to its choice of 
law principles. In the event of a dispute, venue shall be Sacramento, California.

RESPONSIBILITY

Membership requirement
In order for you to be eligible for a credit card with us you must be a member in good standing. If you do not maintain 
your membership with us in good standing we may revoke Card privileges, including closing your account.

Use by others
If you allow someone to use your Card, you are responsible for all charges even if the amount of the actual use exceeds 
your permission. If you add an authorized user to your account, you understand that the authorized user will also have 

L-146 Revised 7.1.2010                                                                              1

access to your account information. To remove an authorized user, you must close the account, return the Card(s) to 
Golden 1 and reapply for a new card.

Joint credit
Each person who signs the Visa Agreement is jointly and severally liable for any credit extended pursuant to this 
Disclosure. By signing the Visa Agreement, you and any co-borrower each authorize the other to individually request, 
authorize or receive advances on the account. You will remain jointly and severally liable for any advance under this 
Disclosure even if you did not specifically request a particular advance and/or did not receive any benefit from the 
advance. If you do not wish for any further advances to be made under this Disclosure, you may close the Card. If you do 
not want the co-borrower to be able to request any further advances, you may close the Card. Either of you may close 
the Card, but both of you will remain jointly and severally obligated to repay the outstanding balance of all pre-existing 
advances under the terms of this Disclosure.

Change of name, address, telephone
You agree to promptly report to us any change in your name, address, e-mail address or telephone number(s). You may 
notify us through online banking, write to us separately, or complete the change of address notification section provided 
on the remittance coupon included with your monthly statement.

USING THE CARD

Illegal transactions
Golden 1 prohibits the use of your Card for any transaction that is illegal under applicable federal, state or local law. 
Internet gambling may be illegal in some jurisdictions. Consumers should ascertain whether Internet gambling or other 
transactions are legal/illegal under applicable law. Regardless of whether the transaction is deemed legal or illegal, you 
agree to repay, according to the terms of this Disclosure, transactions you initiate by use of your Card.

Return of Card(s)
Each Card issued on your account is the property of Golden 1 and must be returned upon demand.

Credit limit
If we approve your request for a Card, we will establish a credit limit for that Card. You agree not to attempt to exceed 
the credit limit. If you temporarily exceed your credit limit, your credit limit will not be increased and you agree to 
immediately repay the excess amount. We can increase or decrease your credit limit at our discretion. We will notify you 
in writing if the amount of your credit limit goes up or down. We may suspend or close your credit limit or otherwise 
terminate your ability to use your Card. We may do this at any time and for any reason. Your obligations under this 
Disclosure continue even after we have done this. You may cancel your credit limits established for applicable Cards
upon written request to Golden 1. We will provide you with a separate written Visa Agreement stating the limit that was 
in effect at the time you established the account. 

Uses for your Card
You will be able to use your Card to buy goods and services any place Visa credit cards are honored. You can use your 
Card to obtain a cash advance at any Golden 1 branch. You can also use your Card together with your Personal 
Identification Number (PIN) to obtain cash advances from any Automated Teller Machine (ATM) displaying the Visa logo 
or to make purchases at any designated point of sale (POS) machine. For your protection, keep your PIN safe and 
confidential at all times. Do not write your PIN on your Card or anything that is kept with your card.

Overdraft Protection
You may select your Student Visa to cover overdrafts (checks, preauthorized debit or debit card transactions) that 
exceed the balance in your Golden 1 Checking account.  If authorized by you to set up overdraft services, we will transfer 

L-146 Revised 6/28/2010(2)                                                                              2

amounts from your Student Visa in increments of $200.  If increments of $200 are not available we will transfer 
whatever is available if it will clear the item.   Overdraft will not occur if you are over your credit limit, sufficient funds 
are not available or your account is delinquent.  There is no limitation on the number of transfers per month or on the 
dollar amount of the transfer.  Interest will begin accrue from the date of the overdraft transfer.  A fee will be charged to 
your checking account for each overdraft transfer.  

Internet transactions & Verified by Visa program
If you use your Card for online shopping, we recommend that you enroll in the Verified by Visa Program, as long as it is 
offered by Visa USA. This program is designed to reduce identity theft by allowing you to establish a password to use 
whenever you use your existing Card for online transactions. If you must store your password, you should ensure it is 
stored in a secure place. If you forget your password, contact Golden 1 during normal business hours for a password 
reset. For your protection, do not allow another person to use your Verified by Visa password. If you share your 
password, you are authorizing the transaction on your account.

Authorizations
Most Visa transactions require approval. When an approval is granted, a hold is automatically placed against your 
account. Golden 1 may limit the number or amount of purchases and/or advances per day. If we detect any unusual or 
suspicious activity, we may deny transactions regardless of your available credit limit. Golden 1 is not liable for failing to 
approve any transaction. Golden 1 may approve transactions above your available credit. We are not liable if your Card
is not honored by any merchant, financial institution or ATM.

Limits on obtaining cash
You may not obtain cash in excess of your available credit. An ATM owner may impose its own limits and, for security 
reasons, Golden 1 or other provider of funds may have additional transaction limits. At Golden 1 ATM machines, you 
may obtain cash advances against your Visa up to a maximum aggregate total of $500 per day provided sufficient credit 
is available.

Notice regarding ATM fees by others
When you use an ATM not owned by Golden 1, you may be charged a fee by the ATM operator of any network used to 
complete the transfer. You may be charged a fee for a balance inquiry even if you do not complete a funds transfer. Any 
such fees must be displayed at the ATM or POS terminal location.

PAYMENTS and FEES

Minimum monthly payments
You can pay off all your purchases and cash advances plus interest charges and fees in full each month or you can pay 
monthly installments. If you are paying installments, each minimum payment will be 2% of the new balance on the date 
of cycle closing or $10.00, whichever is greater.  If the new balance is less than $10.00, you only pay that amount. In 
addition to the minimum payment due, you agree to pay any amount which is past due or over limit.

Method of payment
You may pay by check using the remittance coupon on your statement, by automatic payment from your Golden 1 
checking account or by signing on to Golden 1 OnlineSM to make an online payment from any checking account or bill 
payment account you have with a financial institution. You may also pay in person at any Golden 1 branch or Golden 1 
ATM using your ATM/Check Card.

Credit and posting rules
Payments received no later than 5 pm on any business day will be credited to your account effective on that day. 
Transactions after 5 pm on any business day will be posted on the next business day. All payments are subject to 
verification and collection by Golden 1.

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Statements
You will receive a descriptive billing statement monthly listing your previous balance, new balance, due date, and 
minimum payment due. Payment is due on the 15th of each month. 

Liability for payments
If your account is cancelled or closed, whether by you or Golden 1, you remain obligated to pay the outstanding balance 
plus any interest charges, fees and other charges imposed on your account. Golden 1, at its sole discretion, may place a 
temporary freeze on all or part of the credit available to you for new purchases or cash advances under this Disclosure
any time Golden 1 receives payment returned for insufficient funds. In such cases, Golden 1 may freeze your credit line 
until payment is actually collected by us.

Fee schedule
Below is a list of other fees that may be imposed:


Copy of Statement or Transaction Receipt (sales slip)….. $10.00

Replacement Card………………………………………………………… $ 5.00

Rush Card Fee………………………………………………………………. $18.00
 Overdraft fee (posted to checking account)…………………..$ 6.00





Foreign Transaction Fee………………………………………………….1% of transaction amount.
Cash Advance Fee……………………………………………………….... None
Late Payment Fee……………………………………………………….… up to $15.00
Returned Payment Fee.................................................... $5.00

INTEREST CHARGES

Calculation of interest charges
We calculate the interest charges on your Card by applying the daily periodic rate to the “average daily balance” of your 
Card. The daily periodic rate is determined by dividing the APR by 12. To get the average daily balance we take the 
ending balance of on your account each day, including new purchases, unpaid interest, unpaid fees, and deduct 
payments and credits, which gives us the daily balance. Then, we add all the daily balances for the billing cycle and 
divide the total by the number of days in the billing cycle. This gives us the average daily balance. The average daily 
balance on purchases will be considered $0.00 if the previous statement balance is zero. 

Interest charges will not be imposed on any new purchases only if the previous balance is paid in full by the due date or 
payments and credits shown equal or exceed the previous balance. Unless otherwise stated, all cash advances, and 
overdraft transfers are treated as cash items for interest charges computation. There is no grace period for cash items. 
For such transactions, the interest charge begins on the date of the transaction and continues up to the date when 
payment is posted to your account. 

OTHER IMPORTANT DISCLOSURES

SECURITY INTEREST
You pledge all shares, payment on shares, dividends on shares, and deposits (excluding Individual Retirement Account 
shares) which you now have or hereafter may have in any individual or joint share or deposit account to Golden 1, as 
security for each Card you acquire through Golden 1 and for interest thereon, and for late charges, costs and expenses 
(including attorneys’ fees) in connection therewith. You hereby authorize Golden 1 to apply any and all such shares, 
payment on shares, dividends on shares, deposits and balances in your individual or joint accounts to the payment of 
any amounts due on your account including, without limitation, late charges, costs and expenses.

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CANCELED, LOST OR STOLEN CARDS
Cancelation
You may cancel your Card at any time by writing to us. If you cancel your Card you will no longer be able to obtain 
advances or make purchases with the Card. Even if your Card is canceled, you will still be liable for any use which was 
authorized by you or by any person to whom you have given authority to use the Card. You will also be liable for any 
automated or recurring charges authorized by you or your authorized user. You can limit your liability by returning the 
Card to us and canceling any automated or recurring charges when you cancel your Card.

Golden 1 has the right to revoke your Card at any time. Your right to use your Card may be rescinded by us with or 
without cause and without notice. You must return the canceled or expired Card to us upon request. Cancellation or 
revocation of your Card will not affect your obligation to pay any and all amounts due under this Disclosure.

Lost, stolen or unauthorized use 
For your protection, we highly recommend that you continually monitor your monthly statements to identify any 
unauthorized transactions. If your Card is lost or stolen, or you believe that an unauthorized person has accessed or may 
access your Card, or if you notice fraudulent activity on your Card, notify us immediately. If your Card is used 
fraudulently, you agree to assist us in our investigation and you agree to sign an affidavit of fraud and forgery.

To report a lost or stolen Card during our business hours, contact us at (916) 732-2900 or 1-877-GOLDEN 1 (1-877-465-
3361). For holidays or after hours, please call 1- 800-453-4270.

CREDIT REVIEW
Golden 1 will obtain and review your credit report when you apply for a Card. Golden 1 will also periodically obtain and 
review your credit report in order to determine your continued eligibility for credit or to determine which other Golden 
1 products and services may be beneficial to you. Golden 1 may reduce your credit limit or refuse to extend new credit 
as the result of its periodic review of your creditworthiness. Information in your credit report will be used to determine 
if you qualify for a credit card and if so, your qualifying APR. Factors considered by Golden 1 in reviewing your 
creditworthiness may include frequency of late payments, liens, number of new accounts or extent of credit usage, 
among other things.

FOREIGN EXCHANGE/CURRENCY CONVERSION
Transactions that you incur in foreign countries and foreign currencies will be posted to your account in U.S. dollars.
Foreign transactions are normally converted to U.S. dollars by the network processing the transaction, which may 
impose a fee for this service. Since conversion may occur after the date of the transaction, the conversion rate in effect 
on the processing date may differ from the rate in effect on the transaction date or posting date. You agree that the 
transaction amount as converted by the network may be deducted from your account, as well as any conversion charges 
which are imposed. You agree to accept the converted amount in U.S. dollars. 

When you use your Visa-branded Card at a merchant that settles charges in currency other than U.S. dollars, the charge 
will be converted into the U.S. dollar amount. The currency rate used to determine the transaction amount in U.S.
dollars is either:





A rate selected by Visa from the range of rates available in wholesale currency markets for the applicable central 
processing date, which rate may vary from the rate Visa itself receives, or 
The government-mandated rate in effect for the applicable central processing date.

The conversion rate in effect on the processing date may differ from the rate in effect on the transaction or posting 
date.

Visa USA charges Golden 1 a .8% International Service Assessment on all international transactions, regardless of 
whether there is a currency conversion. If there is a currency conversion, the International Service Assessment is 1% 

L-146 Revised 6/28/2010(2)                                                                              5

of the transaction. As a result, we charge you a 1.00% international transaction fee on all international transactions 
regardless of whether there is a currency conversion.  An international transaction is a transaction where the 
country of the merchant is outside the USA.

DEFAULT OF ACCOUNT TERMS
You will be in default under this Disclosure if any of the following:

1. You do not make a payment when due as required by this Disclosure. 
2. You exceed your credit limit without our permission. 
3. You become subject to bankruptcy, incompetency or insolvency proceedings or you die. 
4. You make false statements or omissions or provide fraudulent signatures on any application or financial 

statement provided to Golden 1. 

5. Your payment is returned for any reason. 
6. There has been a material adverse change in your creditworthiness. 
7. You violate any of the terms of this Disclosure, the Visa Agreement, or any other agreement or disclosure

related to this Disclosure or the Visa Agreement. 
8. You no longer qualify for Golden 1 membership. 

We may also (a) terminate or suspend your credit privileges, (b) change the terms in this Disclosure, (d) increase your 
minimum monthly payments, and/or (e) apply any payment to any other outstanding balance. 

Entire balance due
If you miss a payment or break a promise under this Disclosure, we can require payment of the entire outstanding 
balance of your account immediately. No notice is required. We can also do this if you make any false or misleading 
statements on your application, or in the event of your death.

Late charge
Golden 1 may assess a late charge of up to $15.00 per month if at least the minimum payment due is not received within 
15 days of the due date.

Collection costs and attorney fees
If you are in default of your payments or break a promise under this Disclosure, you agree to pay all collection costs 
incurred by us, including collection agency costs, court fees and reasonable attorney’s fees (either hourly or contingency 
fees, which shall be deemed reasonable). These provisions apply to bankruptcy appeals and post-judgment proceedings.

Waiver
The failure of Golden 1 to exercise any of its rights under the Visa Agreement or this Disclosure shall not be deemed a 
waiver of such right or any other right available hereunder.

AGREEMENT TO BE CONTACTED
You agree that Golden 1 may contact you at the telephone number you have provided either during the application 
process or during the term of this loan. This contact agreement extends to any cellular (mobile) phone number you may 
also provide. You understand that Golden 1 will use this contact information if you have defaulted on your loan to 
discuss your account or exchange information concerning your default. You also understand that Golden 1 may employ 
the use of an automated dialer or prerecorded message.

OPTIONAL CREDIT LIFE AND CREDIT DISABILITY INSURANCE 
Your account may be charged monthly for this coverage in accordance with the rate schedule disclosed to you on the 
Optional Credit Insurance Application. This insurance is freely cancelable by giving us written notice 15 days prior to the 
date of cancelation. Premiums for Credit Life and Credit Disability Insurance will be computed on the cycle ending 
balance and shown as a purchase on your periodic statement each month. If you fail to pay your minimum payment 

L-146 Revised 6/28/2010(2)                                                                              6

when due, we will not advance funds on your behalf to pay premiums and the insurance is subject to immediate 
cancelation. In the event of cancelation, the insurance will not be automatically reinstated.

ELECTRONIC FUND TRANSFERS 

Your Rights and Responsibilities 

In case of errors or questions about your electronic transfers, telephone us at (916) 732-2900 or 1-877-GOLDEN 1 (1-
877-465-3361) or write us at The Golden 1 Credit Union, P.O. Box 15966 Sacramento, CA 95852-0966 as soon as you 
can if you think your statement or receipt is wrong or if you need more information about a transfer on the statement 
or receipt. We must hear from you no later than 60 days after we sent you the first statement on which the error or 
problem appeared. 

1. Tell us your name and account number (if any). 

2. Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe there 

is an error or why you need more information.

3. Tell us the dollar amount of the suspected error.

If you tell us verbally, we may require that you send us your complaint or question in writing within 10 business days.

We will determine whether an error occurred within 10 business days after we hear from you and will correct any error 
promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we 
decide to do this, we will credit your account within 10 business days for the amount you think is in error so that you will 
have the use of the money during the time it takes us to complete our investigation. If we ask you to put your complaint 
or question in writing and we do not receive it within 10 business days, we may not credit your account.

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to 
investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for 
the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was 
no error, we will send you a written explanation. You may ask for copies of the documents that we used in our 
investigation.

YOUR BILLING RIGHTS: Keep this document for future use

This Notice tells you about your rights and our responsibilities under the Fair Credit Billing Act. 

What to do if you find a mistake on your statement:

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

The Golden 1 Credit Union 
Attention: Credit Card Operations
P.O. Box 15966 
Sacramento, CA 95852-0966

In your letter, give us the following information:

•

Account information: Your name and account number.

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•

•

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. 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 error:









We cannot try to collect the amount in question, or report you as delinquent on that amount.

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

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

We can apply any unpaid amount against your credit limit.

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





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

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

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

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

Your Rights If You Are Dissatisfied With Your Credit Card Purchases

L-146 Revised 6/28/2010(2)                                                                              8

If you are dissatisfied with the goods or services that you have purchased with your credit card, and you have tried in 
good faith to correct the problem with the merchant, you may have the right not to pay the remaining amount due on 
the purchase.

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

1.

2.

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

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 dissatisfied with the purchase, contact us in writing at:

The Golden 1 Credit Union
Attention: Credit Card Operations
P.O. Box 15966
Sacramento, CA 95852-0966 

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

You may also obtain information regarding shopping for and using credit cards by visiting the website of the Federal 
Reserve Board at www.federalreserve.gov/creditcard. 

L-146 Revised 6/28/2010(2)                                                                              9