AMERICAN EAGLE FEDERAL CREDIT UNION  
VISA® Platinum Credit Card Agreement 
NOTICE:  “See last page for important information regarding the right to dispute billing errors.” 

M-100421 

In this Agreement, the words you and your mean each and all of those who apply for the card and accept this Agreement. Card means the VISA® Credit 
Card and any duplicates and renewals we issue. The word “P.I.N.” means Personal Identification Number issued by us for use to access our Electronic 
Remote Teller (CURT), the VISA® ATM Network automated teller machines (ATMs), or any other type of electronic terminal that provides access to the 
VISA® system. Everyone who receives, signs, or uses a card issued under this Agreement must be a member of this Credit Union. Account means your 
VISA® Credit Card Line of Credit account with us. We, us, and our means American Eagle Federal Credit Union.  This is the Cardholder Agreement and 
Disclosure statement (“Agreement”) that governs the use of your Account.  It supercedes any prior Agreement concerning the Account.  Please read it 
and keep it for your records. 

1.  Responsibility.  When  a  card  is  issued  to  you,  you  agree  to  repay  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 judgment, to which we are not a party, may direct you or one 
of the other persons responsible to pay the Account. Any person using the 
card is jointly responsible with you for charges he or she makes, but if that 
person signs the card, he or she becomes a party to this Agreement and is 
also jointly responsible for all charges on the Account, including yours. 

2.  Lost Card Notification/Liability for Unauthorized Use. If you believe 
the card has been lost or stolen, you  will immediately call 1.800.449.7728 
and report the lost or stolen card.  You may be liable for the unauthorized 
use of your Credit Card.  You agree to cooperate with the investigation of 
the loss, theft, or unauthorized use of your card including providing a signed 
affidavit containing whatever reasonable information we require. 

3.  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 that is applied to principal. You 
may  request  an  increase  in  your  Credit  Line  by  written  application  to  the 
Credit  Union  or  by  calling  1.800.842.0145.  This  Agreement  permits  us  to 
make certain changes to the terms of your Credit Line at specified times or 
upon the occurrence of specified events.  By giving you written notice, we 
may increase or reduce your Credit Line from time to time 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 
termination  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. 

4.  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  to  the  extent 
authorized in our By-Laws. 

5A.  Monthly Payment.   In each month in which you have a credit or debit 
on your Account, or a FINANCE CHARGE has been imposed, we will mail 
you  a  statement  showing  your  Previous  Balances  of  purchases  and  Cash 
Advances,  the  current  transactions  on  your  Account,  the  remaining  credit 
available under your Credit Line, the New Balances of purchases and Cash 
Advances,  the  Total  New  Balance,  the  FINANCE  CHARGE  due  to  date, 
and the Minimum Payment required. Every month you must pay at least the  

Minimum Payment within 25 days of your statement closing date. 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  either  (a)  2.5%  of 
your Total New Balance or $25, whichever is greater, or (b) your Total New 
Balance,  if  it  is  less  than  $25,  plus  (c)  any  portion  of  the  Minimum 
Payment(s) shown on prior statement(s) which remains unpaid. In addition, 
at  any  time  your  Total  New  Balance  exceeds  your  Credit  Line,  you  must 
immediately pay the excess upon our demand. 

5B. Skip Payment Option.  At our option, we may not require you to make 
a Minimum Payment during certain designated billing cycles.  If, pursuant to 
an  allowed  skip  payment,  you  do  not  make  your  Minimum  Payment  as 
otherwise provided in this Agreement, you understand that we will continue 
to  apply  FINANCE  CHARGES to your  Account.    Beginning  with  the  billing 
cycle  following  an  allowed  skip  payment,  all  other  provisions  of  this 
Agreement shall apply. 

6.  Payment  Allocation.  Upon  receipt  of  a  payment  from  you,  we  will  first 
apply  the  payment  to  the  minimum  payment  amount    due.    Any  extra 
amounts  shall  be  paid  first  to the  card  balance  bearing  the  highest  rate  of 
interest and then to each successive balance bearing the next highest rate 
of interest, until all amounts are paid in full. 

7A.  ANNUAL PERCENTAGE RATE (APR). The ANNUAL PERCENTAGE 
RATE (APR) will be a VARIABLE rate.  The APR will be based on the U.S. 
Prime Rate as published in the Wall Street Journal on the 10th business day 
of  December.    Your  APR  will  be  based  upon  your  cumulative  credit 
history  and  determined  by  adding  4.65%,  6.25%,  8.25%,  11.25%,  or 
12.25%  to  the  U.S.  Prime  Rate.    Regardless  of  the  rate  as  determined 
pursuant  to  the  index  and  formula,  the  maximum  rate  will  never  exceed 
18%. 

7B. Failure to Make Minimum Payment - Default Account APR.  We may 
increase  the  APR  applicable  to  your  outstanding  balances  to  18%  if  we 
have  not  received  the  Minimum  Payment  within  sixty  (60)  days  after  the 
payment  is  due.    If  we  intend  to  increase  your  APR  under  these 
circumstances, we will give you  written notice at least 45 days prior to the 
effective date of the change.  This increased APR will remain in effect for no 
longer  than  six  (6)  months,  provided  that  you  make  the  required  Minimum 
Payments on time during that period.   

7C.  FINANCE  CHARGES.  The  PERIODIC  RATE  (FINANCE  CHARGE) 
will be one-twelfth of the APR.  You can avoid a FINANCE CHARGE on 
purchases by paying the full amount of the New Balance of Purchases each 
month  within  25  days  of  your  statement  closing  date.  Otherwise,  the  New 
Balance  of  Purchases,  and  subsequent  purchases  from  the  date  they  are 
posted  to  your  Account,  will  be  subject  to  FINANCE  CHARGE.  Cash 
Advances are always subject to FINANCE CHARGE from the date they are 
posted to your Account.  If Balance Transfers or Convenience Checks are 
used, the amount of each we pay will be charged to your Account as a Cash 
Advance  and  subject  to  FINANCE  CHARGES  as  Cash  Advances.  We 

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calculate the FINANCE CHARGE on your Account by applying the periodic 
rate  to  the  average  daily  principal  balances  of  purchases  and  Cash 
Advances on your account. To get the average daily balance, we take the 
principal  balances  of  purchases  or  Cash  Advances  each  day  during  the 
statement  period,  beginning  with  the  principal  portion  of  your  Previous 
Balances,  reduced  by  payments  you  make  and  credits  we  apply,  and 
increased  by  purchases  and  Cash  Advances  you  make  and  debit 
adjustments we make during the statement period. We add up all the daily 
balances and divide the total by the number of days in the statement period 
to  produce  separate  average  daily  principal  balances  for  purchases  and 
Cash Advances to which the periodic rate is then applied. 

8.  Fees and Other Charges. 

The  following  other  charges  (fees)  will  be  added  to  your  Account,  as 
applicable:  
a)  Over-the-Credit-Limit Fee with Opt-In: If a transaction will cause 
you to exceed your Credit Limit, we will not complete the transaction 
until  you  “opt-in”  by  giving  us  your  express  permission  to  exceed 
your  Credit  Limit.    If  you  opt-in,  we  will  charge  your  Account  an 
over-the-credit-limit fee of $24.00 in the billing cycle that the Credit 
Limit  is  exceeded.    Once  you  opt-in  and  allow  us  to  exceed  your 
Credit Limit, we will charge you an over-the-limit fee each time you 
exceed  your  Credit  Limit  until  you  revoke  the  authorization.    You 
may opt-in or opt-out by submitting a request in writing to the Credit 
Union or by calling 1.800.842.0145. 

b)  Late  Payment  Fee:  We  will  charge  your  Account  a  late  payment 
fee of $25.00 if payment has not been received by the payment due 
date printed on your billing statement. 

c)  Card Replacement Fee: We will charge your Account a $5.00 fee 

each time you request a replacement card. (Lost/Stolen) 

d)  Copy of a Statement Fee: We will charge your Account $1.00 per 
statement  copy  fee  whenever  you  request  statements  other  than 
the most recent 2 months. 

e)  Rush  Card  Delivery  Fee:  We  will  charge  your  Account  a  rush 
card(s) delivery fee of $10.00 should you request overnight delivery 
of a card. 

f)  Cash Advance Fee:  We will charge your Account a Cash Advance 
fee of $5.00 minimum or 3% of the amount of the advance, but not 
more  than  $40.00  when  you  obtain  a  Cash  Advance  from  an 
automated teller machine (ATM), the Credit Union, or other financial 
institution. 

g)  Money Orders and Wire Transfers: We will charge your Account a  
      fee of $5.00 minimum or 3% of the amount of the transaction, but  

not more than $40.00. 

h)  Balance  Transfer  Fee:    We  will  charge  your  Account  a  Cash 
Advance  fee  of  $5.00  minimum  or  3%  of  the  amount  of  the 
advance, but not more than $40.00 when you transfer a balance to 
the card (unless specifically waived during a special promotion). 

9.    Default.    You  will  be  in  default  if  your  ability  to  repay  us  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  Agreement,  or  if  the  value  of  our  security  interest 
materially  declines.  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. To the extent permitted by law, you will also be required to 
pay  our  collection  expenses,  including  court  costs  and  reasonable 
attorney’s fees. 

10.  Using the Card. To make a purchase or Cash Advance, there are two 
alternative procedures to be followed. One is for you to present the card to 
a  participating  VISA®  plan  merchant,  or  to  us  or  to  another  financial 
institution,  and  sign  the  sales  or  Cash  Advance  draft,  which  will  be 
imprinted with your card.   The other is to use your Personal Identification 
Number  (P.I.N.)  in  conjunction  with  your  card  or  obtain  Cash  Advances 

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from  our  electronic  remote  teller  machines  (CURTs),  the  VISA®  ATM 
Network automated teller machines (ATMs), or any other type of electronic 
terminal  that  provides  access  to  the  VISA®  system  at  any  hour  of  the  day 
(not all ATMs provide such access).   If you use our electronic remote teller 
machines  (CURTs),  the  VISA®  ATM  Network  automated  teller  machines 
(ATMs), or any other type of electronic terminal that provides access to the 
VISA® system,  the  dollar  amount you  may  withdraw  each  day  is  limited  to 
$1,000 or your Authorized Limit, whichever is less. For security reasons, the 
number  of  Cash  Advances  on  your  Account  from  VISA®  ATM  Network 
automated  teller  machines  (ATMs)  will  be  limited  to  5  transactions  each 
day.  

11.  Using the Account.  We offer Convenience Checks for use with your 
Account  as  an  optional means to  purchase  goods  or  services  or  to  obtain 
cash. If you do not wish us to send Convenience Checks to you, we will flag 
your Account upon written notification from you. If Convenience Checks are 
used,  the  amount  of  each  Convenience  Check  we  pay  will  be  charged  to 
your  Account  as  a  Cash  Advance  and  subject to  FINANCE  CHARGES  as 
outlined  in  Section  7C.  FINANCE  CHARGES.  There  is  no  charge  for  the 
cost of supplying you the Convenience Checks. Convenience Checks may 
be  used  only  by  a  Cardholder  and  must  be  completed  and  signed  in  the 
same  way  as  a  regular  personal  check. We  will  not  certify  a  Convenience 
Check. Convenience Checks, which you use and we pay, are not returned 
to you but are identified on your monthly billing statement. We will pay each 
Convenience  Check  you  use  except  that  you  will  not  write  a  Convenience 
Check  and  we  do  not  have  to  pay  any  Convenience  Check  under  the 
following circumstances: (a) you do not have enough available credit in your 
Account;  (b)  your  Account  has  expired,  or  your  right  to  use  your  Account 
has been suspended or cancelled by us; (c) your card or checks have been 
reported stolen; (d) your check is postdated  (shows a future date); or  (e) if 
you are in default under this Agreement as outlined in Section 9. Default. If 
we do not pay a Convenience Check written against your Account, we will 
return it to the payee. 

12.  Credit Union Checking Account Overdraft Credit Line.  Your VISA® 
Line  of  Credit  will  enable  you  to  prevent  overdrafts  on  your  Credit  Union 
Checking  Account.  Provided  you  have  contracted  for  a  Credit  Union 
Checking  Account  with  Overdraft  Protection,  and  you  are  entitled  to  Cash 
Advances under your VISA® Loan Account, we may correct an overdraft on 
your Credit Union Checking Account by advancing funds into your Checking 
Account  as  needed  to  cover  the  exact  amount  of  the  overdraft  up  to  your 
available VISA® Credit Line. The advanced funds will post as a VISA® Cash 
Advance  and  will  be  added  to  your  VISA®  Cash  Advance  balance  and 
FINANCE  CHARGES  will  apply.  Any  loan  amounts  transferred  to  your 
Checking Account in excess of the drafts presented for payment at that time 
will remain in your Checking Account for future use. 

13.  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 
payments  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. 

14.  Foreign Transactions. Purchases and Cash Advances made in foreign 
countries  and  foreign  currencies  will  be  billed  to  you  in  U.S.  dollars.  The 
exchange  rate  between  the  transaction  currency  and  the  billing  currency 
used  for  processing  international  transactions  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, plus 1 percent. 

15.  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 
and services you purchase with the card only if you have made a good faith 

VISA® Platinum Credit Card Agreement  
 525-801 (Rev 1/2010) 

 
 
 
 
 
    
 
 
 
 
 
 
 
 
 
attempt,  but  have  been  unable  to  obtain  satisfaction  from  the  plan 
to  an 
merchant,  and  (a)  your  purchase  was  made 
advertisement we sent or participated in sending 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. 

in  response 

16.  Security  Interest.  To  secure  your  Account,  you  grant  us  a  purchase 
money security interest under the Uniform Commercial Code in any goods 
you purchase through the Account.  If you default, we will have the right to 
recover any of these goods that have been paid for through our application 
of  your  payments  in  the  manner  described  in  Section  6.  Payment 
Allocation. 

17.  Credit  Insurance.    If  you  choose  the  voluntary  Payment  Protection 
Plan,  the  premiums  for  such  coverage  will  be  added  to  your  outstanding 
balance appearing as a purchase.   

18.  Nonwaiver of Rights.  We can delay enforcing any of our rights under 
this Agreement without losing those rights. We can accept late payments or 
partial payments without losing any of our rights under this Agreement. 

19.  Law That Applies.  This Agreement and the rights and remedies given 
to you and us by this Agreement will be governed by Connecticut Law. 

20.    Illegal  Transactions.    Your  VISA®  Credit  Card  may  not  be  used  for 
any  illegal  transaction  such  as  unlawful  gambling.    Use  of  your  card  for 
gambling transactions (including obtaining a Cash Advance for purposes of 
gambling), whether such transaction is legal or illegal, is prohibited. 

21.  Effect of Agreement. This Agreement is the contract that applies to all 
transactions on your Account even though the sales, Cash Advance, credit, 
or  other  slips  you  sign  or  receive  may  contain  different  terms.    We  may 
amend  this  Agreement  from  time  to  time  by  sending  you  advance  written 
notice as 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. 

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  (3)  business  days  before  the  automatic  payment  is  scheduled  to 
occur. 

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 is 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 
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 Finance Charge related to 
any questioned amount.  

If  we  did  not 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.  

22.  Change  in  Employment.  You  agree  to  notify  us  if  your  employment 
status changes. 

23.  Acceptance  of  Agreement.  You  understand  that  use  of  your  VISA® 
credit card will constitute acceptance of the terms and conditions contained 
in  this  Agreement.  If  you  do  not  agree  to  the  modified  terms  of  this 
Agreement,  which  supercedes  any  and  all  prior  Agreements  concerning 
your  Account,  you  must  notify  us  within  thirty  (30)  days  of  receipt  of  this 
Agreement at the address provided on your bill. 

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 (10) 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. We must 
tell  you  the  name  of  anyone  we  reported  you  to. We  must  tell  anyone  we 
have reported you to that the matter has been settled between us  when it 
finally is.   

If  we  do  not  follow  these  rules,  we  cannot  collect  the  first  $50  of  the 
questioned amount, even if your bill was correct. 

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. 

Your Rights and Our Responsibilities After We Receive Your Written Notice  

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 

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VISA® Platinum Credit Card Agreement  
 525-801 (Rev 1/2010)