20.  Currency Conversion Rate. If you effect a transaction at a merchant that 
settles  in  a  currency  other  than  U.S.  dollars,  VISA®/  MasterCard®  will 
convert the charge into a U.S. dollar amount. Visa®/MasterCard® will use 
its currency conversion procedure, which is disclosed to institutions that 
issue the Cards.  Currently the currency conversion rate used to determine 
the  transaction  amount  in  U.S.  dollars  for  such  transactions  is  generally 
either a government mandated rate or a wholesale rate determined by Visa®/
MasterCard® for the processing cycle in which the transaction is processed.  
The currency conversion rate used on the processing date may differ from 
the rate that would have been used on the purchase or cardholder statement 
posting  date.  Visa®/MasterCard®  may  impose  a  1%  Foreign  Currency 
Conversion  Fee  for  all  transactions  completed  in  a  foreign  country  with 
your  Credit  Card.    In  the  past,  the  Conversion  Fee  was  combined  with 
your total purchase/transaction amount on your account statement.  The 
Conversion Fee will be listed as a separate line item.   
Illegal Transactions. Your Card and Account may be used only for valid 
and lawful purposes. If you use, or allow someone else to use your Card and 
Account for any other purpose you will be responsible for such use and may 
be required to reimburse us for all amounts or expenses we pay as a result of 
such use.

21. 

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 on 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 checking 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 corrected 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 interest charges, and we can apply any 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 
interest charges related to any questioned amount. If we didn’t make a mistake, 
you may have to pay interest 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.

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.

If we don’t follow these rules, we can’t collect the first $50.00 of the questioned 
amount, even if your bill was correct.

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 limitations 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.

Interest Rates and Interest Charges

Annual Percentage Rate 
(APR) for Purchases

APR for Balance 
Transfers

14.9%

14.9%

APR for Cash Advances

14.9%

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.

Minimum Interest 
Charge

If you are charged interest, the charge will be 
no less than $.50.

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

None

Transaction Fees

Balance Transfer

Cash Advance

Penalty Fees

None
Either $5 or 3% of the amount of each cash 
advance, whichever is greater.

Late Payment

Returned Payment

Up to $25

Up to $25

Other Fees

Account Handling Fee

$25-If it is necessary to place restrictions on 
account

Statement Copy Fee

$2.50 per page

Reinstatement Fee

Lost/Stolen 
Replacement Card Fee

$25

$5

How We Will Calculate Your Balance: We use a method called “average daily 
balance (including new purchases).”
Billing Rights: Information on your rights to dispute transactions and how to 
exercise those rights is provided in your account agreement

The information about costs of the card described in this application is accurate 
as of 8/1/10.  The information may have changed after this date.  To find out 
what may have changed, write us at: PO Box 6000, Brookings, SD  57006.

08/10 

G-12785

VISA®/MASTERCARD® 
CARDHOLDER AGREEMENT
Please read this agreement carefully and save it for future reference. It contains 
Regulation Z disclosures and your rights in case of errors or inquiries about your 
bill.
This is the Agreement that covers your VISA®/MasterCard® Cardholder Account 
with First Bank & Trust (“Account”). In this Agreement, the words “you” and “your” 
refer to the person who applied for the Account and any Joint Accountholder, if 
applicable. “We”, “us”, and “our” refer to First Bank & Trust, Brookings, South 
Dakota.  The word “Card” means your VISA® Card or MasterCard® Card.

This Agreement is effective when you use the Card or the Account or if you fail 
to cut your Card in half and return it to us within 30 days after the date it is 
issued to you.

To  avoid  unauthorized  use  of  your  Card,  please  sign  the  back  of  your  Card 
immediately.

1. 

2. 

3. 

4. 

Using Your Card. You may use your Card or Account to purchase or lease 
goods  or  services  (“Purchases”)  to  obtain  cash  loans  (“Cash  Advances”) 
from any financial institution that accepts the Card. Any cash equivalents 
obtained  with  the  Card  will  also  be  treated  as  Cash  Advances.  Cash 
equivalent  transactions  include  but  are  not  limited  to  wire  transfers, 
money  orders  travelers  checques,  tax  payments,  gold  bullion  purchase, 
and gamming transactions or services.  If you use your Card or Account, 
you  agree  to  us  paying  the  amount  owed  to  each  merchant  or  financial 
institution which honored your Card. 

If  you  give  your  Account  number  to  make  a  purchase  or  obtain  a  Cash 
Advance without presenting your Card (such as for a mail order, telephone, 
or Internet purchase), the legal effect will be the same as if the Card itself 
was used by you.

If  we,  at  our  option,  give  you  a  Personal  Identification  Number  (PIN), 
you may use your Card to obtain a Cash Advance from any Automated 
Teller Machine (ATM) that bears the VISA®, MasterCard®, or CIRRUS® 
logo. All ATM transactions are treated under terms of this Agreement the 
same as Cash Advances. We have the right to restrict your access to any 
qualified ATM at any time. You should not keep your PIN with your Card. 
If you believe that anyone has gained unauthorized access to your PIN, you 
should advise us immediately, following the procedures under the heading 
“Lost or Stolen Card.”
Joint  Account.  If  this  is  a  Joint  Account,  each  person  (a)  may  obtain 
Purchases  and  Cash  Advances  (but  the  total  of  these  cannot  exceed  the 
credit line); (b) will be responsible for paying all amounts owed; and (c) can 
close the Account.
Credit Line. Your credit line is shown on the folder containing your Card. 
Since we may change your credit line from time to time, your latest credit 
line will appear on your monthly billing statement. You agree not to make 
any Purchases or obtain any Cash Advances that would cause the unpaid 
balance of your Account to exceed your credit line. We may honor Purchases 
and Cash Advances in excess of your credit line at our sole discretion. If we 
do this Agreement also applies to that excess and you agree to pay the excess 
immediately if we demand that you do so. You agree that we may change or 
cancel your credit line at any time without affecting your obligation to pay 
amounts that you owe under this Agreement.
Billing Statements. We will promptly send a Monthly Billing Statement at 
the end of each monthly billing cycle if your Account has a debit or credit 
balance greater than $1.00. The Monthly Billing Statement will show the 
Previous Balance, Purchases and Cash Advances posted during the billing 
period, any Interest Charges, and all payments, debits, and credits to your 
Account through the Billing Cycle Closing Date. It will also show, among 
other  things,  your  New  Balance,  the  Minimum  Payment  Due,  and  the 
Payment Due Date (which will be at least 25 days after the Billing Cycle 
Closing Date).

5. 

6. 

7. 

Lost or Stolen Card. You may be liable for the unauthorized use of your 
Card.  You  will  not  be  liable  for  unauthorized  use  that  occurs  after  you 
notify us through our agent at 1-800-658-3660 orally of the loss, theft, or 
possible unauthorized use. You may also notify us in writing of loss, theft, 
or possible unauthorized use at CARD PROCESSING CENTER, PO Box 
3038, Evansville, IN 47730. In either case, your maximum liability is $50 
for unauthorized charges to your Account made prior to receipt of your oral 
or written notification.
Promise to Pay. By applying for and obtaining credit on your Account, you 
agree jointly and severally, if more than one person applies for the Account, 
to be obligated and pay for all credit obtained on your Account by you or 
any person you authorize to use your Card, as well as our interest charges 
and any other fees imposed by us, as provided for in the Agreement. You 
agree to pay us only in U.S. Dollars drawn on U/S/ financial institutions.

Irregular  Payment  and  Delay  in  Enforcement, Waivers  and  Releases. 
We can accept late payments, partial payments, checks and money orders 
marked  “paid  in  full”  or  language  having  the  same  effect  without  losing 
any of our rights under this Agreement. We can also delay enforcing our 
rights under this Agreement any number of times without losing them and 
can waive or delay enforcing a right against one of you without waiving or 
delaying it as to the other.  No waiver by us of any default shall be effective 
unless in writing nor operate as a waiver of any other future default. We can 
release any one of you in whole or in part without affecting your obligation 
under this Agreement.

8.  Minimum  Payments.  You  may  pay  your  New  Balance  each  month,  or 
you  may  pay  in  monthly  installments.  If  you  decide  to  pay  in  monthly 
installments, you must pay at least the Minimum Payment Due shown on 
your Monthly Billing Statement by the Payment Due Date. You may pay 
more than the Minimum Payment Due and may at any time pay your total 
balance due. We will apply payments to amounts owed on your Account 
based on applicable law. 

9. 

If your New Balance is greater than $20.00, then the Minimum Payment 
Due  will  be  the  greater  of  $20.00  or  3%  of  your  total  outstanding 
balance, plus any Late Fee, and any amount that is delinquent. If the 
New Balance is less than $20.00 you pay only the New Balance.  When 
we calculate the Minimum Payment Due, it will be rounded to the next 
highest $5.00 increment.

Your Account is not in good standing if at any time we do not receive at 
least the Minimum Payment Due by the 60th day after the Payment Due 
Date shown on the Monthly Billing Statement.  
INTEREST CHARGES. Your Account is subject to the following interest 
charges, each of which will be charged to your Account as a Purchase:
Periodic  Interest  Charges.  An  INTEREST  CHARGE  is  imposed  on 
Purchases beginning on the date the Purchase is posted to your Account. 
No  INTEREST  CHARGE  will  be  imposed  on  your  Purchases  if  the 
Previous  Balance  shown  on  your  Monthly  Billing  Statement  is  zero  and 
you  pay  your  New  Balance  in  full  by  the  Payment  Due  Date  shown  on 
your  Monthly  Billing  Statement.  An  INTEREST  CHARGE  is  imposed 
on Cash Advances beginning on the date they are obtained and continues 
until the balance of your Account is paid in full. There is no time in which 
you can pay the balance of Cash Advances in order to completely avoid an 
INTEREST CHARGE.
THE  INTEREST  CHARGE  is  determined  by  multiplying  the  Average 
Daily Balance for Purchases and for Cash Advances outstanding during the 
monthly billing cycle by the monthly Periodic Rate. The monthly Periodic 
Rate for Purchases and Cash Advances is 1.24%, which is equivalent to an 
ANNUAL PERCENTAGE RATE of 14.9%.

The Average Daily Balance is computed by taking the beginning balance 
of your Account on each day, calculated separately for Purchases and Cash 
Advances, adding new Purchases and Cash Advances and subtracting any 
payments  and  credits.  Any  resulting  credit  balance  is  treated  as  a  zero 
($0.00) balance. This gives us the daily balance. The daily balances are then 

added together and divided by the number of days in the billing cycle to get 
the Average Daily Balance.
Minimum  Interest  Charge.  The  minimum  Periodic  INTEREST 
CHARGE each billing cycle, based on the Periodic Rate, is $.50.
Cash  Advance  Fee.  In  addition  to  the  INTEREST  CHARGE  on 
Cash  Advances  calculated  by  application  of  the  Periodic  Rate,  there  is  a 
INTEREST CHARGE of 3% (minimum $5.00), whichever is greater, for 
each Cash Advance posted to your Account that month.
Replacement Card Fee. If at any time you request a replacement credit card 
due to loss, damage, theft, or destruction of your current credit card, you 
may be charged a Replacement Card Fee of $5.00. No replacement Card 
will be allowed on the third lost or stolen Card. This fee is an INTEREST 
CHARGE.

10.  Fees. Your Account is subject to the following fees, each of which will be 

charged to your Account as a Purchase:
Late Fee. If we do not receive a payment from you in at least the amount 
of your Minimum Payment Due by the Payment Due Date shown on any 
Monthly Billing Statement, you may be charged a Late Fee equal to the 
amount of the Minimum Payment Due up to a maximum of $25.00.
Returned Payment Fee. If you make a payment on your Account and your 
check or other payment instrument is not honored for any reason or cannot 
be processed, we may charge a Returned Payment Fee equal to the amount 
of the Minimum Payment Due up to a maximum of $25.00.  
 Account Handling Fee. If you are in default of this Agreement and it is 
necessary for us to place restrictions on your Account, you may be charged 
an Account Handling Fee of $25.00. If these restrictions cause your Card 
to be retained and returned to us, you agree to pay all charges associated 
with recovering your Card.
Reinstatement  Fee.  If  we  close  your  Account  due  to  your  default  and 
we later reinstate your Account at your request, you may be a charged a 
Reinstatement Fee of $25.00.
Statement Copy Fee. If you request a copy of a Monthly Billing Statement, 
you may be charged a Statement Copy Fee of $2.50 per page.

11.  Default/Collection Costs. Your  Account  will  be  in  default  and  we  may 
demand  immediate  payment  of  the  entire  amount  you  owe  us  without 
giving  you  prior  notice,  if:  (a)  your  Minimum  Payment  Due  is  not 
received by the Payment Due Date; (b) you make Purchases or obtain Cash 
Advances in excess of your credit line; (c) you become insolvent or are a 
party to a bankruptcy proceeding; (d) in the case of an Account with co-
obligors where either of you request termination of the other; (e) you or a 
co-obligor dies; (f) you provide false information to us, misuse the Account 
or Card or violate any term of this Agreement; (g) any judgment or lien is 
filed against you; or (h) we reasonably believe that your ability to repay your 
obligations to us has been materially impaired. We shall also have the right 
to all remedies provided by law including, without limitation, closing or 
refusing to renew your Account and demanding return of your Card(s).  If 
we refer your Account for collections to an attorney who is not our regularly 
salaried  employee,  you  agree  to  pay  the  reasonable  fees  of  such  attorney 
and, whether or not an attorney is retained, all court and other collection 
costs  (including  any  amounts  actually  incurred  by  us  in  recovering  your 
Cards(s)). 

12.  Refusals to Honor Card. We are not responsible for refusals to honor your 
Card. And, except as otherwise required by law or regulations, we will not 
be responsible for merchandise or services purchased through use of your 
Card.

13.  Termination. We may terminate your privileges under the Agreement or 
cancel or limit your privileges to make Purchases or obtain Cash Advances 
at any time, with or without cause, without notice or liability. If we ask, 
you must return your Card(s) to us, cut in half. You agree that you will not 
try to make any Purchases or obtain Cash Advances after you have been 
notified that your privileges to use your Account have been canceled. You 
may cancel this Agreement by returning all Cards issued on your Account 

to us, cut in half. Your or our termination or cancellation will not affect 
your existing obligations under this Agreement.

14.  Notices.  We  will  send  statements  and  any  other  notices  to  you  at  the 
address shown in our files. If this is a Joint Account, we can notify one of 
you and the notice will be effective for both of you. Similarly, one of you 
can notify us and we will consider it to be notice from both of you. You 
promise to inform us promptly in writing of any change in your address. 
In determining your last known address, we can accept address corrections 
received from the U.S. Postal Service.

15.  Changes in Agreement Terms. We can change any term of this Agreement, 
including  the  rate  at  which  or  manner  in  which  Interest  charges  are 
calculated, at any time upon such notice to you as is required by law. At 
our option, any change will apply both to your new activity and to your 
outstanding balance when the change is effective. If you do not wish to be 
subject to the change, you must notify us in writing within 25 days of the 
effective date of the change and close your Account. Use of the Card after 
the effective date of the change is deemed acceptance of the new terms.
16.  Arbitration.  “Arbitration” is a means of having an independent third party 
resolve a Dispute. A “Dispute” is any controversy or claim of any type or 
nature between you (or any co-signer, co-obligor, guarantor, joint user or 
authorized user) and us or our employees, officers, directors, attorneys, and 
other representatives and agents, arising out of or in any way relating to 
this  agreement,  including  this  arbitration  agreement. You  agree  that  this 
is a contract involving interstate commerce which is subject to the Federal 
Arbitration Act and that any Dispute shall be settled by binding Arbitration 
in  accordance  with  the  applicable  rules  and  procedures  of  the  American 
Arbitration Association (“AAA”), except as modified herein with the sole 
exception of collection actions by us relating to your Account. You and we 
agree that the arbitrator has no authority to conduct class-wide proceedings 
and  will  be  restricted  to  resolving  the  individual  disputes  between  the 
parties. You further agree to waive any claim for punitive damages to the 
extent permitted by law. The arbitrator otherwise has the ability to award all 
remedies otherwise available by statute, at law or in equity to the prevailing 
party including the recovery of reasonable attorneys’ fees and the costs of 
arbitration,  as  determined  by  the  arbitrator.  Judgment  upon  the  award 
rendered by an arbitrator may be entered in any court having jurisdiction 
thereof. YOU  UNDERSTAND THAT YOU WILL  NOT  HAVE THE 
RIGHT TO GO TO COURT, TO HAVE A JURY TRIAL, TO ENGAGE 
IN  PRE-ARBITRATION  DISCOVERY  (EXCEPT  AS  PROVIDED 
FOR IN THE ARBITRATION RULES), OR TO PARTICIPATE AS A 
REPRESENTATIVE OR MEMBER OF ANY CLASS OF CLAIMANTS 
PERTAINING  TO  ANY  DISPUTE.  OTHER  RIGHTS  THAT  YOU 
WOULD  HAVE  IF  YOU  WENT  TO  COURT  MAY  ALSO  BE 
UNAVAILABLE IN ARBITRATION. If any portion of this Arbitration 
Agreement  is  subsequently  deemed  unenforceable,  the  enforceability  of 
any other provision of this Arbitration Agreement shall not be affected and 
the unenforceable term shall be amended such that it is enforceable to the 
maximum extent permitted by law.

17.  Venue and Jurisdiction. You consent to be subject to the jurisdiction and 
venue of the Circuit Court for the Third Judicial Circuit, State of South 
Dakota, and agree that such court shall be the sole and exclusive jurisdiction 
and venue of all court actions of disputes or claims arising from or relating 
to this Agreement or the Account relationship.

18.  Applicable  Law.  This  Agreement  is  entered  into  in  the  State  of  South 
Dakota where the decision to grant credit is made and in which payments 
will  be  received. Therefore,  this  Agreement will  be  governed  by  the laws 
of  the  State  of  South  Dakota  without  giving  reference  to  its  conflict  of 
law  provisions.  If  there  is  any  conflict  between  any  of  the  terms  and 
conditions of this Agreement and applicable law, this Agreement will be 
considered changed to the extent necessary to comply with the law. The 
other provisions of the Agreement shall not be affected.

19.  Binding Effect. This Agreement is binding upon and enforceable against 

your heirs, legal representatives, or successors.