VISA Platinum Credit Card Agreement & Disclosure

1. INTRODUCTION. This VISA Credit Card Agreement (Agreement) and 
the Account Disclosures accompanying this Agreement will govern your 
VISA Platinum Credit Card and account issued by Arizona State Credit 
Union. In this Agreement the words “you,” “your,” “yours,” “applicant,” and 
“Borrowers” mean any person who signs the application for this Account, 
any joint obligor, guarantor, authorized user, or the person whose name 
is  embossed  on  the  Card.  The  words  “we,”  “us,”  “our,”  and  “Lender” 
mean Arizona  State  Credit  Union.  The  word  “Card”  means  any  one  or 
more credit cards issued under the Credit Union’s VISA Card program. 
If you sign or cosign an application for this Account or sign or use any 
Card  or  PIN,  or  allow  others  to  use  the  Card  or  PIN,  you  and  they  will 
have accepted this Agreement just as if you and they signed it, and you 
and they, jointly and severally, will be bound by the following terms and 
conditions which will govern this Account.

2. ACCOUNT ACCESS.
a. Purchases, Cash Advances & Balance Transfers. You must sign the 
Card to use it.  Once you have signed the Card, you can use it to buy 
or lease goods or services, wherever the Card is honored, up to the 
full amount of your credit line. You may use your Account to get cash 
advances from us. You may also use your Card to get a cash advance 
from  participating  financial  institutions  or  automated  teller  machine 
(ATM).  You  may  use  your  Card  to  purchase  goods  and  services 
any  place  your  VISA  Card  is  honored  by  participating  merchants.  In 
addition,  you  may  access  your  account  through  balance  transfers  of 
credit  card  balances  from  other  financial  institutions.  No  purchase 
may exceed the available credit line established for your account. The 
Credit  Union  reserves  the  right  to  refuse  any  transaction  that  would 
draw upon insufficient funds.

b. VISA Convenience Checks. If we approve, you may obtain advances 
under  your  Account  by  writing  preprinted  VISA  convenience  loan 
checks that we supply to you. Your use of loan checks will be shown 
as  cash  advances  on  your  monthly  statement.  We  may  not  honor 
your  loan  check  if:  your  check  is  post-dated;  payment  of  the  check 
would exceed your Credit Limit; a check is signed by person without 
authorized access; the amount of the check is less than the minimum 
required  amount;  your  Account  has  been  terminated  or  suspended, 
or  any  drafts  have  been  reported  lost  or  stolen.    You  may  stop 
payment on a loan check if you provide us with the exact information 
describing the check. If you give us incorrect information, we will not 
be responsible for failing to stop payment.  You understand there may 
be  a  charge  for  each  stop  payment  order  requested.    Our  liability 
for a wrongful dishonor is limited to your actual charges; however, a 
dishonor for the reasons stated above is not a wrongful dishonor.  Only 
the person whose name is printed on a convenience check may sign 
it.   All  convenience  checks  must  be  written  in  U.S.  dollars.    We  will 
not certify a convenience check. You may write these checks for any 
amount providing your total outstanding balance does not exceed your 
available  credit  limit  and  your  credit  card  remains  in  good  standing.  
We are entitled to return it unpaid if there is not enough available credit 
on your account to pay it, if you are in default under this Agreement, 
if your card or convenience checks have been reported lost or stolen, 
or if the convenience check is post-dated.  A VISA convenience check 
may not be used to make a payment on your VISA credit card account.  
The  Credit  Union  shall  have  no  liability  for  any  convenience  check 
returned in excess of your credit line.

3. YOU  PROMISE  TO  PAY.  You  promise  to  pay  us  all  such  amounts, 
plus any Interest Charges, which arise from use of the Card or Account 
by  you  or  any  other  person,  and  to  be  jointly  and  severally  liable  with 
such a person, unless such other person does not have actual, implied, 
or apparent authority for such use, and you received no benefit from the 
use.  You  promise  to  pay  us  either  by  direct  payment  or  by  automatic 
transfers.

4.  CREDIT  LINE.  This  Agreement  will  constitute  a  revolving  line  of 
credit  for  an  amount  which  will  be  the  credit  line  under  your Account.  
You may access your credit line through card purchases, cash advances 
at  participating  merchants,  loan  checks  and  balance  transfers.  We  will 
advise  you  of  the  amount  of  your  credit  line  on  your  statement.  That 
amount will be the maximum amount you may have outstanding at any 
one time.  You agree not to attempt to obtain more credit than the amount 
of your credit line. We retain the right to increase or decrease your credit 
line at any time for any reason.  Any increase or reduction on the limit of 
your credit line will be shown on your monthly statement or by separate 
notice  together  with  any  changes  in  the  applicable  minimum  monthly 
payments.  Your  eligibility  for  this  credit  line  is  determined  by  our  loan 
policy  and  may  be  terminated  at  our  sole  discretion,  without  demand 
or  notice. You  may  close  your  credit  line  at  any  time  by  notifying  us  in 
writing.    If  you  terminate  this Agreement  or  if  we  terminate  or  suspend 
your credit privileges, the provisions of this Agreement and your liability 
hereunder shall otherwise remain in full force and effect until you have 
paid us all sums due us under this Agreement.

5.  MINIMUM  MONTHLY  PAYMENT.  You  agree  that  you  will  pay  each 
month  not  less  than  the  minimum  monthly  payment  on  or  before  the 
scheduled  monthly  due  date.  The  minimum  monthly  payment  will  be 
2.0% of your outstanding balance (“New Balance”) or $25.00, whichever 
is greater.  If your outstanding balance is $25.00 or less, you agree to pay 
the balance in full. You may pay in full for all your purchases and cash 
advances each month, or you may repay in monthly installments. We can 
accept  late  payments  or  partial  payments,  or  checks,  drafts,  or  money 
orders marked “payment in full” without prejudice to our rights under this 
Agreement, which are hereby explicitly reserved. A credit posting from a 
merchant or reversal of fees do not constitute a minimum payment. The 
minimum payment may be allocated at the Credit Union’s discretion to 
pay off lower rate balances, such as promotional offers, before higher rate 
balances, such as cash advances or purchases.  Payments in excess of 
the minimum payment will be allocated first to higher rate balances, as 
applicable. From time to time, we may allow you to skip your minimum 
monthly  payment  due.  If  you  choose  to  skip  that  payment,  Interest 
Charges  will  continue  to  accrue  in  accordance  with  this  Agreement.  
Payments received at: 2355 W. Pinnacle Peak Rd., Phoenix, AZ 85027 
at or before 5:00 PM Mountain Standard Time on any business day will 
be credited to your Account as of that date; payments received by mail 
at that address after 5:00 PM Mountain Standard Time, on a weekend or 
federal holiday will be posted to your Account as of the next business day. 
Payment crediting to your Account may be delayed up to five days if your 
payment is received by mail at any other address or not accompanied by 
the remittance portion of your Account statement.

6. SECURITY INTEREST. You grant the Credit Union a security interest 
under  the Arizona  Uniform  Commercial  Code  in  any  goods  purchased 
through  your  VISA  Credit  Card  Account.  You  agree  that  all  collateral 
you  have  given  the  Credit  Union  to  secure  other  open-end  consumer 
loan obligations (except dwelling secured loans), in the past and in the 
future, will secure your obligations under this Agreement.  In addition, by 
signing the Card Application, you have given us a security interest in all 
your shares and deposits, present and future, and all accounts (except 
Individual Retirement Accounts) with the Credit Union you agree, upon 
default, the Credit Union may apply all that is secured to pay any amounts 
due under this Agreement, without further notice to you.

7. MONTHLY STATEMENTS. Each month we will send you a statement 
showing  purchases,  cash  advances,  payments,  and  credits  made  to 
your Account during the billing cycle, as well as your “New Balance,” any 
Interest Charge and any late charge or other charges.  Your statement 
also will identify the Minimum monthly payment you must make for that 
billing  period  and  the  date  it  is  due.  You  agree  to  retain  for  statement 
verification copies of transaction slips resulting from each purchase, each 

advance, and other transaction on your Account.  Unless you notify us of 
a billing error as described below, you accept your monthly statement as 
an accurate statement of your Account with us.

8. CIRCUMSTANCES UNDER WHICH AN INTEREST CHARgE WILL 
BE  IMPOSED.  The  total  outstanding  balance  of  purchases  and  cash 
advances in the Account on the closing date of a billing cycle, including 
any  Interest  Charge  will  be  shown  on  the  Periodic  Statement  for  that 
billing cycle as the “New Balance.”
a. Cash Advances (Interest Charge). An Interest Charge will be imposed 
on cash advances and balance transfers from the date each advance 
is made to the date paid. The Credit Union charges a cash advance 
fee (Interest Charge) of 3% of the cash advance transaction (minimum 
$5.00;  $50.00  maximum)  from  the  date  of  the  transaction  until  the 
amount is paid. There is no grace period to avoid a cash advance fee 
(Interest Charge). There is no cash advance fee on balance transfer 
advances or convenience checks. There is a minimum Interest Charge 
of $1.00 on unpaid balances.

b.  Purchases.  An  Interest  Charge  will  be  imposed  on  the  portion  of 
purchases    included  in  the  new  balance  that  remains  unpaid  25 
days  after  the  closing  date.  This  “grace  period”  allows  you  to  avoid 
an Interest Charge on purchases for a billing cycle. However, to the 
extent  you  do  not  pay  your  purchase  transactions  within  the  grace 
period, your Interest Charge will accrue from the date purchases are 
posted to your account. There is a minimum Interest Charge of $1.00 
on unpaid balances.

9.  METHOD  USED  TO  DETERMINE  THE  BALANCE  ON  WHICH 
THE  INTEREST  CHARgE  MAY  BE  COMPUTED AND AMOUNT  OF 
INTEREST  CHARgE.  The  Credit  Union  figures  the  Periodic  Interest 
Charge on your Account by applying the Periodic Rate to the “Average 
Daily Balance” of new and previous unpaid transactions for your Account.  
To get the “Average Daily Balance” we take the beginning purchase and 
cash advance balances of your Account each day, add any new purchases, 
cash  advances,  balance  transfer  amounts  or  debit  adjustments  or 
charges and subtract any payments or credits, unpaid Interest Charges 
and unpaid late charges.  This gives us the daily balance. Then we add 
up  all  the  daily  balances  for  the  billing  cycle  and  divide  by  the  number 
of days in the billing cycle. This gives us the Average Daily Balance for 
purchases, cash advances and balance transfers.

10. PERIODIC RATE AND CORRESPONDINg ANNUAL PERCENTAgE 
RATE.
a. Variable Rate. During an introductory period, we offer a fixed Annual 
Percentage Rate for purchases, cash advances and balance transfers. 
The  introductory  period  is  six  months  for  purchases  and  cash 
advances and nine months for balance transfers. After the introductory 
period,  your  Annual  Percentage  Rate  will  be  variable  based  on  the 
following terms. The Interest Charge imposed during the billing cycle 
will  be  determined  by  multiplying  the Average  Daily  Balance  by  the 
Daily Periodic Rate times the number of days in the billing cycle.  The 
Periodic  Rate  and Annual  Percentage  Rate  are  variable  based  on  a 
margin  and  an  index,  which  is  the  highest  Prime  Rate  published  in 
the  Western  Edition  of  the  Money  Rates  Section  of  the  Wall  Street 
Journal. We add a margin to the index to obtain the Annual Percentage 
Rate.  The  margin  we  add  may  range  from  6.74%  to  14.75%  based 
upon  your  credit  qualifications.  The  index  is  determined  the  1st 
day  of  the  billing  cycle  immediately  following  the  expiration  of  the 
Introductory  Rate  period  and  subsequently,  on  the  15th  day  of  the 
month  immediately  proceeding  the  1st  day  of  each  billing  cycle, 
rounded  to  the  nearest  .25  percentage  point.  The  index  plus/minus 
margin  equals  the Annual  Percentage  Rate. The Annual  Percentage 
Rate is divided by 365 to determine the Daily Periodic Rate. Changes 
in the Annual Percentage Rate may affect the amount of the payment 
and the number of payments you will make.  The Annual Percentage 
Rate  will  never  exceed  18.00%.  The  Annual  Percentage  Rate  and 
Periodic Rate applicable to your account will be based upon your credit 
qualification  and  margin  assigned  to  you  and  will  be  disclosed  on  a 
separate disclosure accompanying your Card or this Agreement and 
shown on each monthly statement. The “Total Interest Charge” shown 
on your monthly statement consists of the periodic Interest Charge on 

purchases, the periodic Interest Charge on cash advances and Cash 
Advance (Interest Charge) fees.

b.  Default  Rate.  The  Daily  Periodic  Rate  and Annual  Percentage  Rate 
may increase if your minimum payment has not been received within 
60 days after the due date for such payment, in which case the Annual 
Percentage Rate for your entire balance will immediately increase to 
18.00%. Following the default rate increase, if you make your payments 
on time for six (6) consecutive months, the Annual Percentage Rate 
based  on  a  default  will  terminate  and  the  prevailing  variable Annual 
Percentage Rate will apply.

11.  CONDITIONS  UNDER  WHICH  OTHER  CHARgES  MAY  BE 
IMPOSED.  You  agree  to  pay  the  following  fees  and  charges  on  your 
Account:
a. Late Fee. If we do not receive your minimum payment within 10 days 
of the due date, you agree to pay a Late Fee of 5.00% of the payment 
due, subject to a maximum of $10.

b. Returned Item Charge. If any check or draft we receive from you as 
payment for any amount you owed to us is returned to us unpaid, you 
agree to pay a returned item fee of $32.00.

c. ATM Fees. If you use an ATM to obtain a cash advance and the ATM 
is not operated by us, you may be charged an ATM surcharge by the 
ATM operator or an ATM network utilized for such a transaction.  The 
ATM surcharge may be charged to your account if you complete the 
transaction.

d. Attorney’s Fees and Costs. If you default on any part of this Agreement, 
you agree to pay us all costs to collect your Account, including court 
costs  and  reasonable  attorney  fees  and  collection  agency  costs 
whether or not there is a lawsuit, and fees on any appeal and fees for 
bankruptcy  proceedings,  appeals,  and  any  post  judgment  collection 
services, if applicable.

12. CONDITIONS OF CARD USE. The use of your Card and Account 
are subject to the following conditions:
a. Ownership  of  Cards.  Any  Card  or  other  credit  instrument  or  device 
which  we  supply  to  you  is  our  property  and  must  be  returned  to  us, 
or  to  any  person  whom  we  authorize  to  act  as  our  agent,  or  to  any 
person  who  is  authorized  to  honor  the  Card,  immediately  according 
to instructions.  The Card may be repossessed at any time at our sole 
discretion without demand or notice.  You cannot transfer your Card or 
Account to another person.  You may not use the Card for any illegal or 
unlawful transactions and we may decline to authorize any transaction 
that we believe poses an undue risk of illegality or unlawfulness.

b. Honoring the Card. Neither we nor merchants authorized to honor the 
Card will be responsible for the failure or refusal to honor the Card or 
any other credit instrument or device we supply to you.  If a merchant 
agrees to give you a refund or adjustment, you agree to accept a credit 
to your Account in lieu of a cash refund.

c. Currency  Conversion/Foreign  Transaction  Fee.  Purchases  and 
cash advances made in foreign countries will be billed to you in U.S. 
dollars.  The  currency  conversion  rate  for  international  transactions 
as established by VISA International, Inc. is 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.  In addition, you will be charged a 
Foreign Transaction Fee of 1% of the transaction amount for any card 
transaction made in a foreign country.

d. Notices  and  Payments.  All  notices  will  be  sent  to  your  address  as 
shown on your credit union account.  You agree to advise us promptly 
if you change your mailing address.  All payments should be  mailed 
to  us  at  the  remittance  address  shown  on  your  monthly  statements.  
Payments received at that address will be credited to your Account as 
of the date received.

e. Personal  Identification  Number.  We  will  issue  you  a  Personal 
Identification  Number  (“PIN”)  for  use  with  your  Card  at  automatic 
teller machines (“ATMs”).  These numbers are issued to you for your 
security  purposes.    These  numbers  are  confidential  and  should  not 
be  disclosed  to  third  parties.    You  are  responsible  for  safekeeping 
your PIN.  You agree not to disclose or otherwise make available your 

PIN to anyone not authorized to sign on your Account.  To keep your 
Account secure, please do not write your PIN on your Card or keep it 
in the same place as your Card.

13.  LOAN  PROTECTION.  Loan  Protection  coverage  is  not  required 
for  any  extension  of  credit  under  this  Agreement.    However,  you 
may  purchase  any  loan  protection  available  through  us  and  have  the 
premiums  added  to  your  outstanding  balance.  If  you  elect  to  do  so, 
you will be given the necessary disclosures and documents separately.

14. DEFAULT. You will be in default under this Agreement if any of the 
following occur:  (a) Any minimum monthly payment is not made when 
due;  (b)  You  become  insolvent,  bankrupt,  or  you  die;  (c)  You  violate 
any part of this Agreement, or any other agreement with us; or (d) if we 
reasonably deem ourselves insecure on your credit line.  We will notify 
you in writing of any such action as soon as practical if it occurs.  Upon 
default, we may declare the entire unpaid balance immediately due and 
payable, and you agree to pay that amount plus any attorney’s fees and 
costs  including  collection  agency  costs  incurred  by  us.    We  can  delay 
enforcing any right under this Agreement without losing that right or any 
other right.  A negative credit report reflecting on your credit record may 
be submitted to a credit-reporting agency if you fail to fulfill the terms of 
this Agreement.

15. CREDIT INFORMATION/FINANCIAL STATEMENTS. You authorize 
us to release information to others (e.g., credit bureaus, merchants, and 
other financial institutions) regarding the status and history of your credit 
line.  You  agree  to  provide  us,  at  any  time  we  deem  necessary,  with  a 
current financial statement and updated credit information upon request.  
We  may  investigate  your  credit  directly  or  through  a  credit  reporting 
agency.

16.  LOSS  OR  THEFT  OF  VISA  CREDIT  CARD  OR  CONVENIENCE 
CHECKS. You agree to notify us immediately of the loss, or the theft, or 
the use without your permission, of any Card or other credit instrument or 
device which we supply to you.  You may be liable for the unauthorized 
use which occurs after you notify us at: Telephone: (800) 449-7728 or by 
writing us at P.O. Box 31112, Tampa, FL  33631-3112 orally or in writing 
of loss, theft, or possible unauthorized use. If you notify us of your lost or 
stolen Credit Card after discovery, you may not be liable for any losses 
related to credit transactions.  This zero liability will apply provided you 
were not grossly negligent or fraudulent in handling your Card; otherwise 
your  liability  for  unauthorized  VISA  Credit  Card  transactions  shall  not 
exceed $50.

17. YOUR CREDIT CARD 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 to us at: Arizona State Credit 
Union, P.O. Box 31112, Tampa, FL 33631-3112. 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. 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:

delinquent on that amount.

responsible for the remainder of your balance.

continue to charge you interest on that amount.

   •  We cannot try to collect the amount in question, or report you as 
   • The charge in question may remain on your statement, and we may 
   •  While  you  do  not  have  to  pay  the  amount  in  question,  you  are 
  • We can apply any unpaid amount against your credit limit.
       •  If  we  made  a  mistake:  You  will  not  have  to  pay  the  amount  in 
      • If we do not believe there was a mistake: You will have to pay the 

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

question or any interest or other fees related to that amount.

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.  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 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  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.)

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 at the above address. 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.

18.  AMENDMENTS.  We  reserve  the  right  to  amend  the  terms  and 
conditions of this Agreement as permitted by and subject to any limitations 
or notice requirements of applicable law.

19.  gOVERNINg  LAW.  This  Agreement  will  not  take  effect  until  it  is 
approved  by  us. This Agreement  shall  be  governed  by  the  laws  of  the 
State of Arizona.

20. ENTIRE AgREEMENT. You understand and agree to the terms and 
conditions  in  this  VISA  Credit  Card Agreement.  You  acknowledge  that 
you  have  received  a  copy  of  the Agreement. This Agreement  is  a  final 
expression  of  the  agreement  between  you  and  the  Credit  Union.  This 
Agreement may not be contradicted by evidence of any oral agreement 
or alleged oral agreement and contains the terms applicable to the credit 
transaction.

REV. 5/10 

           M-101258