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

yoUr rights iF yoU are dissatisFied With yoUr credit card 
PUrchases. If you 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 this right, all of the following must be true:
1. The purchase must have been made in your home state or within 100 miles of your 
current mailing address, and the purchase price must have been more than $50. 
(Note: Neither of these is necessary if your purchase was based on an advertise-
ment we mailed to you, or if we own the company that sold you the goods or ser-
vices.)

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

3. You must not yet have fully paid for the purchase.
If all of the criteria above are met and you are still dissatisfied with the purchase, 
contact us in writing or electronically at: Card Services, Pentagon Federal Credit 
Union, Box 456, Alexandria, VA 22313-0456, or online at PenFed.org.
While  we  investigate,  the  same  rules  apply  to  the  disputed  amount  as  discussed 
above. After we finish our 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.

Information about this card is accurate as of February 2012 but may have changed 
since then. To find out what may have changed, please go to PenFed.org or call 800-
247-5626.

Police Form 0104  2/12  POD  FDR M-105953 

Police Federal credit Union/ 
Pentagon Federal credit Union
cardholder agreement and 
disclosUre statement

Joint oPerating agreement. Police Federal Credit Union (Police 
FCU) and Pentagon Federal Credit Union (PenFed) are participating jointly to 
provide you with credit card services. The servicing of your account includes, 
but  is  not  limited  to,  statement  processing,  inquiry  processing  and  payment 
processing, and is administered by PenFed’s Card Services department. Your 
credit report will show Police FCU and PenFed as the creditor.

deFinitions. The “Card” means the Police FCU credit card which we issue 
to you under this Agreement, and includes any device or check used to obtain 
credit or cash from the account. An Authorized User is an individual receiving 
a Card, but who has no responsibility for payment of the Account. The words 
“you”, “your” and “cardholder” mean each person, jointly and individually who 
holds,  signs,  retains,  uses,  or  permits  others  to  use  or  sign  a  card. The  words 
“our”, “we” and “us” mean Police FCU and PenFed or any of its assignees. Unless 
otherwise stated, “Account” means your Visa account with us.

1.  agreement.  We  agree  to  extend  credit  to  you  and  advance  amounts 
up  to  your  credit  limit,  but  transaction  limits  may  apply.  Your  credit  limit  is 
not  increased  by  any  credit  balance  you  may  have  on  your  account.  You  will 
sign the back of the Card as soon as you receive it. You agree to pay us for credit 
extended for the use of the Card by you or any other cardmember, along with 
all applicable finance charges, fees and insurance, if any apply. By signing, us-
ing or permitting others to use the Card, you agree to the terms and conditions 
contained  in  this  Agreement,  on  the  Card,  on  any  charge  slip  resulting  from 
authorized use of the Card, on any authorized cash advance slip, and to accept 
responsibility for all actions taken with the Card.

2. credit limit. You agree to use the Card within the credit limit we au-
thorize. You also agree that we can change your credit limit at any time. We are 
not obligated to accept charges that would cause you to exceed your authorized 
credit limit. Any extension of credit to you, made or honored by us, shall be at 
such times and in such amounts and for such purposes as to conform to this 
Agreement, and only when there is no default.

3.  change  in  terms.  You agree that the terms of this Agreement are 
applicable to any cardholder. You also agree that we can change the terms of 
this Agreement at any time by adding, deleting, or modifying any provision of 
the Agreement. 

Termination  of  the  account  by  you  or  us  will  not  affect  your  obligation  to 
pay  the  Account  balance  plus  any  finance  charge  and  other  charges  you  owe 
under this Agreement. You are responsible for all transactions made to your ac-
count after termination, unless the transactions were unauthorized. Should you 
choose to cancel your Account, the terms in effect at the time that you cancel 
the Account will apply until the outstanding balance of the Account is paid in 
full, unless you are in default. Your card will no longer be available for use for 
new transactions, including purchases, as the Account will be closed (if it is not 
already closed.) . If you do not notify us of your decision to terminate the ac-
count by the date stated in any notice we provide, or if you notify us but then use 
the Account after the date stated in the notice, you will be deemed to accept all 
changes to the Account’s terms and conditions of this Agreement. 

If you are in default because your payment has not been received within 60 
days of the due date, you do not have the right to reject the changes we make to 
this Agreement or the Account’s terms and conditions. 

4.  Financial  condition  change  You agree to advise us of any 
change in your financial condition that may affect your creditworthiness and 
to  provide  us  with  a  current  loan  application  whenever  we  request  one.  You 
expressly authorize any person, partnership, association, firm, corporation or 
consumer reporting agency, upon our request, to furnish us with information 
concerning you relevant to the review and evaluation of this Account. You un-
derstand and agree that we may terminate your account upon reevaluation of 
your creditworthiness.

5.  Finance  charges  WILL  BE  IMPOSED  IN  THE  FOLLOWING 
MANNER AND WILL BE IN AMOUNTS NOT IN EXCESS OF THOSE PER-
MITTED BY LAW:

a.  PUrchases.  (1)  No  finance  charge  will  be  imposed  during  the  next 
billing  cycle  (defined  as  the  time  interval  between  regular  monthly  billing 
statement  dates)  if  you  pay  the  entire  new  balance  shown  on  the  current  pe-
riodic  statement  and  we  receive  your  payment  on  or  before  the  payment  due 
date  shown  on  the  statement.  (2)  In  all  other  cases,  a  finance  charge  will  be 
imposed based on the average daily balance of all purchases and debit adjust-
ments, hereafter referred to as purchases. The average daily balance is the sum 
of all outstanding purchases, which is determined by including new purchases 
and deducting payments or credits and excluding any unpaid finance charge for 
your Account on each day of the billing cycle divided by the number of days in 
the billing cycle. A purchase appearing on the periodic statement is considered 
a part of the outstanding balance from the date of posting. (3) The amount of 
the  finance  charge  is  calculated  by  multiplying  the  average  daily  balance  for 
purchases by the monthly periodic rate. The monthly periodic rate is the yearly 
interest rate divided by 12.

b.  cash  adVances.  (1)  Finance  charges  accrue  on  all  cash  advance 
amounts from the date charged to your Account and continue so long as such 
amounts remain outstanding. (2) A finance charge will be imposed on the av-
erage  daily  balance  of  cash  advances,  which  is  the  sum  of  the  cash  advances 
(determined by including new cash advances and deducting any payments or 
credits  and  excluding  any  unpaid  finance  charge)  outstanding  each  day  dur-
ing the billing cycle, divided by the number of days in the billing cycle. A cash 
advance  appearing  on  the  periodic  statement  is  considered  a  part  of  the  out-
standing  balance  from  the  date  of  posting.  (3)  The  amount  of  finance  charge 
is calculated by multiplying the average daily balance for cash advances by the 
monthly periodic rate.

6. Payments. A payment delivered by regular U.S. mail must be sent to the 
address indicated on your periodic statement. Your payment by mail must be a 
check or money order in U.S. dollars with your account number on the check 
or money order and drawn on a U.S. financial institution, and be accompanied 
by the payment voucher from your statement. Write your account number on 

your check or money order. All such payments will be posted to your account 
as of the date we receive them provided we receive them before 5:00 p.m. at the 
address indicated on your periodic statement. Payments received at other loca-
tions or not conforming to these procedures may be delayed in posting, but not 
more than 5 business days from the date of receipt.

PenFed, in its sole discretion, may accept a check for payment on your Ac-
count even though payment was made before the date of the check or a check 
which has a date more than 6 months old. For the first six months all payments 
received from PenFed members who have held membership for six months or 
less will be credited to your Account as of the date we receive them, but credit in 
the amount of the payment will not be available to you for 10 calendar days. Pay-
ments made electronically through our automated telephone service, member 
service representatives, or our website will be subject to any processing times 
disclosed with those payments. 

Your minimum payment due is the greater of $15 or 2% of the new balance 
plus the past due amount, if any, and/or all amounts in excess of the authorized 
credit line/limit shown on the periodic statement. If the new balance does not 
exceed  $15,  only  the  new  balance  total  is  due  and  is  shown  as  the  minimum 
payment due. All past due or over limit amounts are due and must be fully paid 
immediately  upon  notification.  You  may,  however,  pay  the  total  amount  due, 
which is shown as the new balance, or you may pay any additional amount you 
wish over the minimum payment due.

If your payment is not honored or we must return it to you because it could 
not be processed, a charge may be made to your account in the amount indi-
cated for “returned payment” on Pentagon Federal’s current Schedule of Service 
Fees  brochure.  In  addition,  for  the  6  months  following  any  such  dishonored 
payment, any payments you make will be credited to your account as of the date 
we receive them, but credit in the amount of the payment will not be available 
to you for 10 calendar days.

You understand and agree that payments will be applied first to the card bal-
ance bearing the highest rate of interest, then to each successive balance bearing 
the next highest rate of interest until the payment is exhausted. You understand 
and agree that payments will be applied in the following order: (1) late payment 
fee; (2) finance charge; (3) annual membership fee (if any); (4) credit life fee (if 
any);  (5)  previous  balance  cash  advances;  (6)  previous  balance  purchases;  (7) 
new cash advances; and (8) new purchases.

7. deFaUlt. You will be in default if you fail to make any payment on time, 
if you exceed the credit limit established for the Account, if you become insol-
vent or file bankruptcy, if you become incompetent or die, if a judgment or gar-
nishment should be issued against any of your property including any of your 
Accounts with us, if we in good faith consider our or your obligations or your 
ability to repay or perform your obligations with us unsafe or insecure, or if you 
fail to live up to any of your other agreements with us, to include any PenFed 
policy or procedure. Subject to law, if you default on this Agreement, we can, 
without  giving  anyone  notice,  demand  immediate  payment  of  the  remaining 
balance due including but not limited to any unpaid finance charges, late fees 
and any other charges due under this Agreement. You also agree our obligation 
for further credit extensions shall immediately end and we may terminate your 
Account without further notice to you. We can do this if you make any false or 
misleading statements on your requests for an advance, if you die, file for bank-
ruptcy or if any other creditor tries to seize your property. 

If  your  required  minimum  payment  has  not  been  received  within  60  days 
of the due date, any balance, including a balance transfer with a promotional 
rate,  will  increase  to  the  Penalty  Annual  Percentage  Rate  (Penalty  APR).  See 
Section 10 below for details of the Penalty APR. If collection is necessary, you 
agree to pay all costs of collection, including attorney’s fees and court costs, in 
an amount not more than 25 percent of the balance due.

8. late Payment Fees. You will pay a late payment fee if the Minimum 
Payment Due is received 10 or more days past the due date. 

9. Variable rates. One or more APRs that apply to your account may 
vary with changes to the Prime Rate, which means your rate can increase. We 
calculate the APR by adding a margin to the Prime Rate published in The Wall 
Street Journal. If The Wall Street Journal stops publishing the Prime Rate, we 

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will select a similar reference rate and inform you on your billing statement or 
through  a  separate  notice.  The  “Prime  Rate”  is  the  highest  (U.S.)  Prime  Rate 
published in the Money Rates section of The Wall Street Journal. A margin is 
the percentage we add to the Prime Rate to calculate the APR. Twice a year, on 
the Tuesday in the last full week before January 1 and the Tuesday in the last 
full week before July 1, we determine what the Prime Rate is, as published in the 
Wall Street Journal. We then add a margin to the Prime Rate to get the APR. If 
the APR increases, you will have to pay a higher periodic finance charge and 
may have to make a higher minimum payment. 

Visa Platinum APR: Prime plus 6.74%
Visa Gold APR: Prime plus 9.24%
Visa Classic APR: Prime plus 10.74%

10. Penalty annUal Percentage rate. If your required mini-
mum payment is not received within 60 days of the due date, your Account is 
subject to change to a Penalty APR. The Penalty APR will remain in place until 
you make three consecutive payments on or before the date that each payment is 
due. In addition, your balance transfer rate for any outstanding balance transfer 
amounts will increase to the Penalty APR. After three consecutive months of 
on-time payments, the rates will be reduced to the rates that applied prior to the 
increase, unless the temporary promotional rate has expired or the index for the 
variable rate has changed. 

11.  Promotional  annUal  Percentage  r ate.  At  our 
option  a  special  promotional  rate  may  be  offered  from  time  to  time.  The 
specific  terms  will  be  provided  at  the  time  of  the  offer.  Generally,  the  pro-
motional  APR  will  only  apply  to  select  transactions  (i.e.  purchases  or  bal-
ance  transfers)  during  the  promotional  period.    The  APR  rates  for  all  other 
transactions,  not  outlined  in  the  promotion  as  eligible  for  the  promotional 
APR,  will  remain  unchanged.    If  your  required  minimum  payment  is  not 
received  within  60  days  of  the  due  date,  any  promotional  APR  and  the  pe-
riodic  rate  for  purchases,    cash  advances,  and  balance  transfers  will  in-
crease  to  the  Penalty  APR  until  3  consecutive  payments  are  made  on  time.

12.  accoUnt  closUre.  You  or  anyone  jointly  liable  for  the  Account 
may  terminate  the  Account  at  any  time  by  notifying  us  orally  or  in  writing. 
However, this will not relieve you or any of the other joint owners from liability 
for the repayment of any obligations arising from the use of the Account. In ad-
dition, recurring charges from a third party vendor/merchant will be charged 
to  your  account,  even  though  you  have  requested  cancellation  from  PenFed. 
You  must  cancel  the  recurring  charge  with  the  third  party  vendor/merchant. 
Upon receipt of your notice, we may close your Account or suspend your ac-
count  privileges  at  any  time  without  prior  notice.  You  must  return  all  of  the 
Cards to us upon request.

13. third Party disclosUre. We may disclose information to third 
parties about your account in order to advise third parties, such as credit re-
porting agencies or merchants of the existence or condition of your Account, to 
evaluate your current credit worthiness or as otherwise provided by law. 

14. To protect us if you are in default on any credit extended or cash advanced 
under this account, you pledge all of your shares, deposits, payments and divi-
dends  which  may  be  received,  whether  held  jointly  or  individually,  up  to  the 
amount of your outstanding balance. The foregoing pledge includes the right to 
apply funds available to you in any jointly held account on your date of death. 
This does not include your individual retirement account (IRA). We may take 
all the shares needed by us to repay your credit extension or cash advance. If it 
is necessary to take all of your shares for the payment of this account, you un-
derstand your membership in PenFed may end. Collateral securing other loans 
with the credit union may also secure this loan. 

15. card dishonor. If a merchant refuses the Card, we will not have 
any liability or responsibility. No cash refund will be made to or accepted by you 
with respect to any adjustment for goods or services purchased. All adjustments 
will  be  made  by  credit  to  your  PenFed  account  by  a  properly  executed  credit 

voucher issued by the merchant.

16.  illegal  card  Use.  You  agree  that  illegal  use  of  your  Card  by 
cardholders(s) will be deemed an action of default and/or breach of contract and 
your  account  and  other  related  services  may  be  terminated  at  our  discretion. 
You further agree, should illegal use occur, to waive any right to sue PenFed for 
such illegal use or any activity directly or indirectly related to it. You also agree 
to indemnify and hold PenFed harmless from any suits or other legal action or 
liability, directly or indirectly, resulting from such illegal use. 

17. aUthorized User. You may request us to issue a Card to an individ-
ual who has no financial responsibility under this Agreement. An Authorized 
User has the same access to your Account as you do, subject to any limitations 
we may impose. An Authorized User has no authority to add or delete Card-
holders,  request  a  replacement  Card  or  terminate  or  modify  this  Agreement. 
You may terminate an Authorized User’s authority to access your Account at 
any time. To do this, you must return the Card to PenFed. You agree that you are 
responsible for all charges and cash advances made by an Authorized User, in-
cluding charges made before the Card is returned, recurring charges, or charges 
made without the use of the Card initiated by the Authorized User after termi-
nation of the Authorized User’s access.

18. issUance/Use oF card. Upon receipt of the Card(s) you and all 
other cardholders agree that you will sign the signature panel on the back of the 
Card(s). The Card remains the property of Pentagon Federal Credit Union and 
may be revoked without notice at any time. The Card must be surrendered to 
us upon demand or revocation. If we employ an agent to obtain the Card your 
Account will be charged with any related fees. No expired, revoked or otherwise 
invalid Card shall be used to obtain or attempt to obtain credit. You will remain 
responsible to pay the amount you owe us according to the terms of this Agree-
ment.  Cancellation  of  the  Account  will  also  terminate  any  other  products  or 
services offered in conjunction with it. However, recurring charges from a third 
party vendor/merchant will be charged to your Account, even though you have 
requested  cancellation.  You  must  cancel  the  recurring  charge  with  the  third 
party merchant/vendor. 

19. issUance/Use  oF checks. If we issue you checks, these checks 
are  treated  as  cash  advances  when  they  are  used  and  presented  for  payment. 
We may refuse to issue or reissue and may also terminate, limit or modify the 
use of the checks without notice to you, and you agree to surrender the checks 
upon  our  demand  or  upon  learning  of  our  cancellation  or  withdrawal  of  the 
checks. Use of checks or other methods of access for kiting or similar activity is 
an action of default. The checks at all times remain the property of PenFed and 
we may repossess them without the use of court process. All of the terms and 
conditions of this Agreement apply to the use of the checks. Only check blanks 
and other methods authorized by PenFed now and in the future may be used to 
obtain funds from your Account. If so authorized by PenFed, your use of a per-
sonal identification number (PIN) for such purpose shall constitute your signa-
ture. Paid checks become our property and will not be returned to you. Copies 
may be provided, if requested, for a nominal fee for each item. Should we decline 
to pay any check, or if you instruct us not to pay a check, PenFed shall not be 
liable, except for gross negligence, for any action it takes regarding payment or 
nonpayment of a check. If we decline to pay a check, a charge may be made to 
your account in the amount indicated on our current Schedule of Service Fees 
brochure, which is available at any branch office, on request, or at PenFed.org. 
You will not date any check later than the date that you write it. If you do and the 
check is presented for payment before its date, PenFed, in its sole discretion may 
return it unpaid, or pay it. If we pay it, we will charge the Account. PenFed may, 
in its sole discretion, pay a check which has a date more than six months old.

20. annUal Fee. you may be required to pay a nonrefundable annual fee 
for each Account you have with us for which a Card is issued. You will pay only 
one annual fee, even if more than one Card is issued for your Account. The fee 
will be charged annually to your Account. This charge will appear on your peri-
odic statement for the billing cycle when it first becomes effective. 

22.  Foreign  TransacTions. Purchases and cash advances made in 
foreign  currencies  will  be  debited  from  your  account  in  U.S.  dollars.  The  ex-
change rate between the transaction currency and the billing currency used for 
processing  international  transactions  is  either  a  wholesale  market  rate  or  the 
government mandated rate in effect one day prior to the date processed by Visa 
and may include an international transaction fee. 

23.  debt  Protection  Plan.  Your purchase of the Debt Protection Plan 
(“Plan”) is optional. Whether or not you purchase this protection will not affect your 
application for credit or the terms of any existing credit agreement you have with 
PenFed. If you do purchase this Plan you may cancel it at any time by notifying us 
in writing. You understand that you may rescind this plan within 30 days after the 
date your Plan becomes effective. If you rescind, any premiums you have already paid 
will  be  credited  to  your  account.  We  can  terminate  this  Agreement  by  giving  you 
notice at least 30 days in advance of the termination. You understand that the Plan 
protects only you as the primary Member-Borrower against protected events while 
you are enrolled in the Plan. Co-borrowers, co-signers, guarantors and additional 
card holders are not eligible for protection. The premium, method of calculation and 
assessment are subject to change. If these terms change we will provide written no-
tice  before  the  change  goes  into  effect.  Premiums  will  accrue  on  a  daily  basis  and 
will  be  billed  to  your  account  monthly.  Complete  details  of  this  optional  Plan  are 
included  in  The  Debt  Protection  Plan  Program  Agreement  which  you  will  receive 
upon enrollment.

24.  traVel  accident  insUrance. We agree to provide you with 
Travel Accident Insurance at no direct cost to you. You, your spouse and un-
married  dependent  children  will  be  automatically  insured  against  accidental 
bodily injuries or death while riding in any aircraft or land or water conveyance 
operated by a common carrier licensed to carry passengers for hire provided the 
full travel fare(s) has been charged to your Account. Death benefits will be paid 
to the estate of the insured; all other benefits will be paid to the insured. This 
insurance is subject to cancellation without prior notice. You understand and 
agree  that  the  Certificate  of  Insurance  controls  all  insurance  terms  and  con-
ditions  to  the  exclusion  of  any  statements  made  in  this  Agreement  regarding 
limitations, exclusions, and claims procedures.

25. assignability oF accoUnt. You agree that PenFed may at any 
time sell, transfer or assign your account.

26. lost/stolen card. You are responsible for the possession and use 
of  the  Card  and  must  maintain  the  confidentiality  of  the  PIN  we  may  assign 
you. You will notify us at once if you believe your Card has been lost or stolen, 
or if you have reason to believe the Card is being used without your permission. 
You may notify us by calling 800-556-LOST or 402-399-3600 collect from over-
seas, or by writing to us at Card Services, Pentagon Federal Credit Union, Box 
247027, Omaha, NE 68124-7027.

27. liability For UnaUthorized Use. You are liable for all au-
thorized use of any Card issued under the Agreement regardless of the credit 
limit or the party using it. You agree to notify us immediately (using the contact 
information listed in “Lost/Stolen Card”, above. if you suspect unauthorized use 
of the Card, and to cooperate with us in the recovery of any amounts advanced 
based on unauthorized use. You will not be liable for any unauthorized use of 
the card.

28.  statements. We will bill you monthly, on a date selected by us, for 
amounts due under this Agreement. If you elect to receive your credit card state-
ment electronically, you will receive an email alerting you when your statement 
is ready to be viewed online. Failure to receive a monthly statement or electronic 
statement  notification  does  not  relieve  you  from  making  any  required  mini-
mum payment. Upon receipt of each periodic statement, you should examine 
it and immediately notify us in writing of any transaction you believe to be in 
error. If your Account is a joint account, we can send statements and notices to 
either of you. You agree to notify us promptly of any change in your name, ad-
dress, or email address.

29.  Payment  skiP  oPtion.  At  our  option,  we  may  provide  for  a 
payment  skip  option,  which  means  that  you  may  be  allowed  to  skip  making 
the minimum periodic payment for specified billing cycles. If you accept this 
payment skip option, we will continue to apply the finance charge as disclosed 
above, but no late payment fees will apply to the skipped payment. For the bill-
ing  cycle  following  a  skipped  payment,  all  the  terms  and  conditions  of  this 
Agreement (including minimum periodic payment and applicable late payment 
fees) will continue to apply.

30.  other  agreements  All  the  terms  and  conditions  of  any  other 
agreement  between  us  and  you  and/or  any  other  institution  that  is  part  of  a 
network of automated teller machines (ATMs) in which we participate, and any 
applicable  rules  and  regulations,  also  apply  to  use  of  the  Card.  There  may  be 
minimum and/or maximum limits on the amount of a cash advance dispensed 
from electronic terminals which accept the Card. All of the transactions made 
by electronic means are subject to verification by us, and any checks or other 
items  deposited  for  collection  may  be  deemed  to  be  received  and  any  other 
transaction may be deemed to occur on our next business day. You understand 
that transactions may be limited in some areas. 

You agree that we do not waive our rights under this Agreement if we fail to 
assert them. The Agreement binds and benefits us and our successors and as-
signs and binds you, your estate and your personal representatives. 

31.  aPPlicable  laW  This  Agreement  and  your  Card  and  Additional 
Cards, and all questions about their legality, enforceability and interpretation, 
are governed by the laws of the Commonwealth of Virginia, USA.

yoUr  billing  rights  (Keep  this  notice  for  future  use.)  This  notice  tells  you 
about your rights and our 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 to us at: Card Services, Pentagon 
Federal Credit Union, Box 456, Alexandria, VA 22313-0456. You may also contact 
us on the Web via our Secure Online Message Center at: PenFed.org 
In your letter give us the following information:
• Account information: Your name and account number.
• Dollar amount: The dollar amount of the suspected error.
• Description of problem: If you think there is an error on your bill, describe what you 

believe is wrong and why you believe it is a mistake.

You must contact us:
• Within 60 days after the error appeared on your statement.
• At least 3 business days before an automated payment is scheduled, if you want to 

stop payment on the amount you think is wrong.

You must notify us of any potential errors in writing or electronically. 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 re-
ceive your letter, we must do two things:
1. Within 30 days of receiving your letter, we must tell you that we received your let-

ter. 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 inter-

est 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