Visa

Date 

CREDIT CARD AGREEMENT
In this Agreement the words you and your mean each and all of those who apply for the card or who signs the application. Card means a Visa® Credit 
Card and any duplicates and renewals we issue.  Account means your Visa Credit Card Line of Credit account with us. We, us and ours means this 
Credit Union.

1. Responsibility. If we issue you a card, you agree to pay all debts and the 
FINANCE CHARGE arising from the use of the card and the card account. 
For example, you are responsible for charges made by yourself, your spouse 
and minor children. You are also responsible for charges made by anyone 
else to whom you give the card, and this responsibility continues until the 
card is recovered. You cannot disclaim responsibility by notifying us, but we 
will close the account for new transactions if you so request and return all 
cards. Your obligation to pay the account balance continues even though 
an agreement, divorce decree or other court judgement to which we are not 
a party may direct you or one of the other persons responsible to pay the 
account. If more than one person has applied for a card or signed the ap-
plication, paragraph 15 below also applies to your account. You agree that 
you will not use or allow anyone else to use your card for any transaction 
that is illegal under applicable federal, state or local law.

2. Lost Card Notification. If you believe your credit card has been lost or 
stolen, you will immediately call the Credit Union at: (207) 284-2444 or 
after hours 800-991-4961.

3. Consumer Liability for Unauthorized Transactions. Your liability to the 
Credit Union will not exceed $50.00 for unauthorized use of your card that 
occurs prior to the time when you give notice of possible unauthorized use 
to the Credit Union at PeoplesChoice Credit Union, P.O. Box 876, Biddeford, 
ME 04005, and (207) 284-2444 or 877-785-6328.

4.  Credit  Line.  If  we  approve  your  application,  we  will  establish  a  self-
replenishing Line of Credit for you and notify you of its amount when we 
issue the card. You agree not to let the account balance exceed this approved 
Credit Line. Each payment you make on the account will restore your Credit 
Line by the amount of the payment which is applied to principal. You may 
call us to request an increase in your Credit Line, which must be approved 
by our loan department. By giving you written notice our loan department 
may reduce your Credit Line from time to time, or with good cause, revoke 
your card and terminate this Agreement. Good cause includes your failure 
to comply with this Agreement, or our adverse reevaluation of your credit-
worthiness. You may also terminate this Agreement at any time, but termi-
nation by either of us does not affect your obligation to pay the account 
balance. The cards remain our property and you must recover and surrender 
to us all cards upon our request and upon termination of this Agreement.

5. Credit Information. You authorize us to investigate your credit standing 
when opening, renewing or reviewing your account, and you authorize us 
to disclose information regarding your account to credit bureaus and other 
creditors who inquire of us about your credit standing.

6. Details About Your Monthly Payment.
(a)  Monthly Statement. We will mail you a statement every month show-
ing your Previous Balance of purchases and cash advances, the current 
transactions on your account, the remaining credit available under your 
Credit Line, the New Balance of purchases and cash advances, the Total 
New Balance, the FINANCE CHARGE due to date, and the Minimum 
Payment Required.

(b)  Minimum Payment. Every month you must pay at least the Minimum 
Payment within 25 days of your statement closing date. By separate 
agreement  you  may  authorize  us  to  charge  the  minimum  payment 
automatically to your share or share draft account with us. You may, 
of course, pay more frequently, pay more than the minimum payment, 
or pay the Total New Balance in full, and you will reduce the FINANCE 
CHARGE by doing so. The Minimum Payment will be any portion of the 
Minimum Payments shown on prior statements which remain unpaid 
plus either (a) 2% of your Total New Balance or $20.00, whichever is 
greater, or (b) your Total New Balance if it is less than $20.00. In ad-
dition, at any time your Total New Balance exceeds your Credit Line, 
you must immediately pay the excess upon our demand.

(c)  How Payments Are Applied:  The Payment is applied in the following 
order: First, fees; second, finance charge; third, non-accruing balance (i.e. 
insurance premiums); fourth, old purchases; fifth, old cash advances; 
sixth, current cash advances (cycle to date); seventh, current purchases 
(cycle to date).

7. Finance Charges. 
(a)  When Finance Charge Begins. A finance charge will be imposed on 
cash advances from the date made or from the first day of the billing cycle 
in which the cash advance is posted to your account, whichever is later, 

and will continue to accrue until the date of payment. A finance charge 
will be imposed on purchases only if you elect not to pay the entire new 
balance of purchases shown on your monthly statement within 25 days 
from the closing date of that statement. If you elect not to pay the entire 
new balance of purchases shown on your monthly statement within that 
25 day period, a finance charge will be imposed on the unpaid average 
daily balance of those purchases from the statement closing date and will 
continue to accrue until the closing date of the billing cycle preceding 
the date on which the entire new balance of purchases is paid in full or 
until the date of payment if more than 25 days from the closing date.

(b)  Figuring  the  Finance  Charge.  The  FINANCE  CHARGE  (interest)  is 

calculated at the periodic rate of:
.825% per month, which is an ANNUAL PERCENTAGE RATE of 9.9% 
or 1.15833 per month, which is an ANNUAL PERCENTAGE RATE of 
13.9%, based on your credit worthiness.

(i)   Cash  Advances.  The  finance  charge  on  cash  advances  for  a  billing 
cycle is computed by applying the monthly periodic rate to the average 
daily balance, which is determined by dividing the sum of the daily 
balances during the billing cycle by the number of days in the cycle. 
Each daily balance is determined by adding to the previous balance for 
cash advances (the outstanding cash advance balance of your account 
at the beginning of the billing cycle) any new cash advances received 
and subtracting any payments as received or credits as posted to your 
account, but excluding any unpaid finance charges. 

(ii)   Purchases. We figure the Finance Charge on your account by apply-
ing the periodic rate to the “average daily balance” of your account 
(including current transactions). To get the “average daily balance,” we 
take the beginning balance of your account each day and subtract any 
payments or credits and any unpaid finance charges. This gives us the 
daily balance. Then, we add all the daily balances for the billing cycle 
together and divide the total by the number of days in the billing cycle. 
This gives us the “average daily balance.” 

8. Default. You will be in default if you fail to make any Minimum Payment 
within 25 days after your monthly statement closing date.  You will also be 
in default if your ability to repay is materially reduced by a change in your 
employment,  an  increase  in  your  obligations,  bankruptcy  or  insolvency 
proceedings involving you, your death or your failure to abide by this Agree-
ment. We have the right to demand immediate payment of your full account 
balance if you default, subject to our giving you any notice required by law.

9. Using the Card. To make a purchase or cash advance, there are two al-
ternative procedures to be followed. One is for you to present the card to a 
participating Visa plan merchant, to us or to another financial institution, 
and sign the sales or cash advance draft which is imprinted with your card. 
The other is to complete the transaction by using your Personal Identifica-
tion Number (PIN) in conjunction with the card in an Automated Teller 
Machine  or  other  type  of  electronic  terminal  that  provides  access  to  the 
Visa  system. The monthly statement will identify the merchant, electronic 
terminal or financial institution at which transactions were made, but sales, 
cash advance, credit or other slips cannot be returned with the statement. 
You will retain the copy of such slips furnished at the time of the transac-
tion in order to verify the monthly statement. The Credit Union may make 
a reasonable charge for photocopies of slips you request.

10. Returns and Adjustments. Merchants and others who honor the Card 
may give credit for returns or adjustments, and they will do so by sending 
us a credit slip which we will post to your account. If your credits and pay-
ments exceed what you owe us, we will hold and apply this credit balance 
against future purchases and cash advances, or if it is $1 or more, refund it 
on your written request or automatically after 6 months.

11.  Foreign  Transactions.  Purchases and cash advances made in foreign 
countries and foreign currencies will be billed to you in U.S. dollars. The 
conversion rate to dollars will be at wholesale market rate or the govern-
ment mandated rate, whichever is applicable, in effect one day prior to the 
processing date. A one-percent (1%) International Transaction Fee will be 
assessed and billed separately. This fee will be charged on all international 
purchases, credit vouchers and cash advances.

Continued on Reverse Side

 
 
Effective April 1, 2008, Visa will charge 0.8% for international transactions 
that do not involve currency conversions.

Visa  assessed  surcharge/access  fee  for  ATM  cash  dis-
bursement  transactions  initiated  outside  of  the  U.S.  
region:* – Visa assesses a cash disbursement fee of U.S. $0.50 or $1.25 on 
international  ATM  transactions  where  a  surcharge  fee  has  been  assessed.  
* Except in Visa Europe Region.

12. Plan Merchant Disputes. We are  not responsible for the refusal of any 
plan merchant or financial institution to honor your card. We are subject to 
claims and defenses (other than tort claims) arising out of goods or services 
you purchase with the card only if you have made a good faith attempt but 
have been unable to obtain satisfaction from the plan merchant, and (a) your 
purchase was made in response to an advertisement we sent or participated 
in sending to you; or (b) your purchase cost more than $50 and was made 
from a plan merchant in your state or within 100 miles of your home. Any 
other disputes you must resolve directly with the plan merchant.

13. Security Interest. You may be giving a security interest in a specific amount 
of your share or share draft account(s) with the Credit Union by signing a 
separate pledge of shares agreement. If you give a security interest to the 
Credit Union, you must maintain the amount of the security given in your 
account(s) at all times during which you have the right to use your card(s). 
Other than this security interest, we will not assert any statutory right we 
may have if you are in default to prevent withdrawal of your Credit Union 
shares in other accounts or in the secured account(s), above the amount 
of the security you give. The Credit Union also waives any other security 
interest it may have for advances or purchases made under this agreement.

14. Effect of Agreement. This Agreement is the contract which applies to all 
transactions on your account even though the sales, cash advances, credit or 
other slips you sign or receive may contain different terms. We may amend 
this Agreement from time to time by sending you the advance written notice 
required by law. Your use of the card thereafter will indicate your agreement 
to the amendments. To the extent the law permits, and we indicate in our 
notice, amendments will apply to your existing account balance as well as 
to future transactions.

15. Joint Liability. Each person who has signed the application or applied 
for a card will be individually and jointly responsible for paying all amounts 
owed under this agreement. This means that the Credit Union can require 
any one of you individually to repay the entire amount owed under this 
agreement. Each of you authorizes the other(s) to make purchases or cash 
advances individually. Any one of you may terminate the account and the 
termination will be effective as to all of you.

YOUR BILLING RIGHTS
KEEP THIS NOTICE FOR FUTURE USE

This notice contains important information about your rights and our 
responsibilities under the Fair Credit Billing Act.

NOTIFY US IN CASE OF ERRORS OR qUESTIONS ABOUT YOUR BILL.

If you think your bill is wrong, or if you need more information about a 
transaction on your bill, write us on a separate sheet at the address listed on 
your bill. Write to us as soon as possible. We must hear from you no later 
than 60 days after we sent you the first bill in which the error or problem 
appeared. You can telephone us, but doing so will not preserve your rights.

In your letter, give us the following information:
•  Your name and account number.
•  The dollar amount of the suspected error.
•  Describe the error and explain, if you can, why you believe there is an 
error. If you need more information, describe the item you are not sure 
about.

If you have authorized us to pay your credit card bill automatically from your 
savings or share draft account, you can stop the payment on any amount 
you think is wrong. To stop the payment, your letter must reach us three 
business days before the automatic payment is scheduled to occur.

YOUR  RIGHTS  AND  OUR  RESPONSIBILITIES  AFTER  WE  RECEIvE 
YOUR WRITTEN NOTICE

We  must  acknowledge  your  letter  within  30  days,  unless  we  have  cor-
rected the error by then. Within 90 days, we must either correct the error 
or explain why we believe the bill was correct.

After  we  receive  your  letter,  we  cannot  try  to  collect  any  amount  you 
question, or report you as delinquent. We can continue to bill you for 
the amount you question, including finance charges, and we can apply 
an unpaid amount against your credit limit. You do not have to pay any 
questioned amount while we are investigating, but you are still obligated 
to pay the parts of your bill that are not in question.

If we find that we made a mistake on your bill, you will not have to pay 
any finance charges related to any questioned amount. If we didn't make a 
mistake, you may have to pay finance charges, and you will have to make 
up any missed payments on the questioned amount. In either case, we will 
send you a statement of the amount you owe and the date that it is due.

16. Other Charges. The following other charges will be added to your ac-
count,  as  applicable:  a  draft  copy  fee  of  $5.00,  a  card  replacement  fee  of 
$4.00, a copy of statement fee of $1.00.
•	No	Annual	Fee!
•	No	Late	Fees!
•	No	Cash	Advance	Fees!
•	No	Overlimit	Fees!

If you fail to pay the amount that we think you owe, we may report you 
as delinquent. However, if our explanation does not satisfy you and you 
write to us within ten days telling us that you still refuse to pay, we must 
tell anyone we report you to that you have a question about your bill. 
And, we must tell you the name of anyone we reported you to. We must 
tell anyone we report you to that the matter has been settled between us 
when it finally is.

17. Copy Received. You acknowledge receipt of a copy of this Agreement.

If we don't follow these rules, we can't collect the first $50.00 of the ques-
tioned amount, even if your bill was correct.

Applicant

Co-Applicant

  Visa 9.9% Based on your credit worthiness.

  Visa 13.9% Based on your credit worthiness.

SPECIAL RULE FOR CREDIT CARD PURCHASES

If  you  have  a  problem  with  the  quality  of  property  or  services  that  you 
purchased with a 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 property or services. There are two limita-
tions on this right:
(a)   You must have made the purchase in your home state or, if not within 
your home state, within 100 miles of your current mailing address; and

(b)   The purchase price must have been more than $50.00.

These limitations do not apply if we own or operate the merchant, or if we 
mailed you the advertisement for the property or services.

PeoplesChoiceCreditUnion.com

P.O. Box 876 • Biddeford, Maine, 04005 
(207) 284-2444 or 877-785-6328 • FAX (207) 282-1735

Rev 07/14